How I Paid Taxes With a Credit Card and Came Out Ahead My 2020 tax bill was $4,200. Because I was going through a divorce at the time, I simply didn’t have the money to pay that bill all at once. So I decided to peek into 0% intro APR credit cards to see how I could finance the bill. Once I ran the numbers, I decided to go for it. I applied for the Capital One Savor Rewards Card and was approved immediately. When I received the card, I used it to pay the entire tax bill. Below is how the charges appeared on my credit card statement: The fee to pay my taxes using a credit card was $82, but the numbers worked in my favor. Start With the Sign-Up Bonus First, I was able to earn the sign-up bonus since my tax bill was well over the spending requirement. You get a $200 cash bonus after you spend $500 in the first three months of card membership. It is a solid sign-up bonus for a no-annual-fee cash back credit card . Additionally, I earned 1% cash back on the ent...
Bookkeeping, Financial Consulting & Educational Services