Cash + and property taxes

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
11 posts
FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1590
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Cash + and property taxes

Postby FutureBillionaire » Thu Feb 28, 2013 1:07 pm

Has anyone used the cash + for property taxes? Did you get cash back?
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape


nishant
Centurion Member
Centurion Member
 
Posts: 120
Joined: Wed Dec 19, 2012 10:07 am
Location: Chicago

Postby nishant » Thu Feb 28, 2013 7:41 pm

You get 1% cash back if property taxes are paid using Cash + card. Not 5%. Typically property tax payments are processed by third party who charges 2.5% commission on the amount paid. Therefore, it is a net loss to pay property taxes by card.

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1590
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Fri Mar 01, 2013 7:34 am

nishant wrote:You get 1% cash back if property taxes are paid using Cash + card. Not 5%. Typically property tax payments are processed by third party who charges 2.5% commission on the amount paid. Therefore, it is a net loss to pay property taxes by card.


I ended up using prepaid cards to pay. I got my 5% after all.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

Sevenfeet
Centurion Member
Centurion Member
 
Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Fri Mar 01, 2013 10:21 am

But the prepaid card functioned as a debit card, not a credit card in the eyes of the processor?
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1590
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Fri Mar 01, 2013 10:33 am

Sevenfeet wrote:But the prepaid card functioned as a debit card, not a credit card in the eyes of the processor?


I had to process the payment as a credit card. I bought the prepaid card with a Chase Freedom, and thus was able to make some money back from the transaction, even after the fee was assessed.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Sat Mar 02, 2013 11:07 am

FutureBillionaire wrote:I had to process the payment as a credit card. I bought the prepaid card with a Chase Freedom, and thus was able to make some money back from the transaction, even after the fee was assessed.


So you bought a $500 card for the 4% bonus ($25 minus the ~$5 fee) then paid 2.5% to use it (paying $500) and made $7.50?

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1590
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Sun Mar 03, 2013 9:20 am

DavidNY wrote:So you bought a $500 card for the 4% bonus ($25 minus the ~$5 fee) then paid 2.5% to use it (paying $500) and made $7.50?


I sense sarcasm here. My property taxes are about 1250. When I made that post, I purchased one card just to make sure that the payment would go through. Once I was sure about that, I went and bought another prepaid card and added that. I paid the final 250 with my CSP because I want to make sure to hit the minimum spend.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Sun Mar 03, 2013 9:59 am

FutureBillionaire wrote:I sense sarcasm here. My property taxes are about 1250. When I made that post, I purchased one card just to make sure that the payment would go through. Once I was sure about that, I went and bought another prepaid card and added that. I paid the final 250 with my CSP because I want to make sure to hit the minimum spend.


OK, so you made $15. I'm just trying to figure out how much effort was put in to doing that.

Minimum spend is a different thing of course and can be more lucrative.

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1590
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Sun Mar 03, 2013 10:06 am

DavidNY wrote:OK, so you made $15. I'm just trying to figure out how much effort was put in to doing that.

Minimum spend is a different thing of course and can be more lucrative.


I drove down the road to the CVS. Made money. I'm happy. I should also mention that I ensured that I made the minimum spend on my Chase Freedom with that one transactiong. I had a couple of gas purchases on there, but this put me over the top. I will use prepaid debit cards and Bluebird everywhere that I can't get decent cashback. To me, the effort is minimal.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

DavidNY
Centurion Member
Centurion Member
 
Posts: 1332
Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Sun Mar 03, 2013 10:12 am

Be sure to max out the Chase Freedom bonus this month. I did it with drug store gift cards and made about $60.



Return to “Rewards”

Who is online

Users browsing this forum: No registered users and 2 guests