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10-21-2018, 01:37 PM
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#21
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by Goawayrain
Pay with a new AmEx Magnet card which charges no interest for 15 months. The card provides 1.5% cash back plus pays a total of $250 in spend bonuses in the first year, so there would be $400 in bonuses. The card has no annual fee.
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Just curious - Is the $10K paid all at once? If that's case, AMEX only pays $150 for spending $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. If the tax payment was bi-annual, $250 is right.
__________________
May we live in peace and harmony and be free from all human sufferings.
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10-21-2018, 01:39 PM
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#22
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Recycles dryer sheets
Join Date: Jun 2014
Posts: 193
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I pay my property tax by credit card. The fee is 2.5% but my credit card rebate is 2.625%. So I still win a little, plus I get the float of the money until the CC bill is due.
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10-21-2018, 01:42 PM
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#23
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by audreyh1
I would definitely pay my property taxes via credit card if they city imposed no fee. But they impose a pretty hefty one.
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I am not aware of any governmental agency would accept credit card payment without fee. If existed, I would rather pay with a credit card with cash back also.
__________________
May we live in peace and harmony and be free from all human sufferings.
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10-21-2018, 01:50 PM
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#24
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Dryer sheet wannabe
Join Date: Oct 2016
Posts: 24
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Quote:
Originally Posted by Spanky
Just curious - Is the $10K paid all at once? If that's case, AMEX only pays $150 for spending $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. If the tax payment was bi-annual, $250 is right.
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Great catch. I can pay bi-annually, but there is a slight penalty. The AmEx was one example - I haven't researched all possibilities. Discover, for example, has a card that gives 1.5% and then matches it at the end of the year for an effective 3% (so, $300 not $400). I would have to explore the different options (and paying bi-annually) to see what the best option is and if it's worth the effort
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10-21-2018, 01:53 PM
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#25
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by catotx
I pay my property tax by credit card. The fee is 2.5% but my credit card rebate is 2.625%. So I still win a little, plus I get the float of the money until the CC bill is due.
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Our county charges 2.29% service fee. Cash back from AMEX is only 1%. A introductory credit card as described by the OP may be okay but only at the beginning (the first 15 months). I guess you could always cancel it after that period.
__________________
May we live in peace and harmony and be free from all human sufferings.
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10-21-2018, 01:56 PM
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#26
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Dryer sheet wannabe
Join Date: Oct 2016
Posts: 24
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Quote:
Originally Posted by Spanky
I am not aware of any governmental agency would accept credit card payment without fee. If existed, I would rather pay with a credit card with cash back also.
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Ours are processed through a 3rd party called Official Payments. It looks like on their website that you can see which jurisdictions they contract with
https://www.officialpayments.com/index.jsp
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10-21-2018, 02:09 PM
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#27
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by Goawayrain
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Thanks. It does cover our county.
__________________
May we live in peace and harmony and be free from all human sufferings.
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10-22-2018, 07:56 AM
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#28
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 4,172
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I understand the cashback calculation but don't understand how the spending bonus works. Have you done the alternate calculation: instead of paying the large fee for govt bill, what happens if you just use the card for your normal fee-free spending and then bank that money in a saving acct paying 1.9%.
Yes , the interest you earn will be less and will slowly build w/ time as you spend but you won't have to pay the large govt fee so perhaps it won't be as bad as you assume.
In the past, the biggest turnoff for these things has been the consequence of not paying back on time. Perhaps you get distracted, ill etc............
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