siankaan1

Anyone have experience using Chase Ink Bold or Plus cards to prepay federal income taxes? Will it show up as a purchase or as a cash advance?

Thanks.

wcj

I am assuming that you are not converting to debit or otherwise doing tactics outlined in this forum. if that is correct, then the fee is outrageous IMHO, but info. can be found in this thread.

http://www.flyertalk.com/forum/credi...s-cr-card.html

It pains me to provide the link and would encourage you to look around the forum. Hope that helps.

siankaan1

Thanks. Am I mis-thinking this? I've just taken out two personal cards that I need to make minimum spend on in the next 3 months. Now there's the new Ink 60,000 UR cards, no way I can make minimum spend on those too. But for 2% of $10,000 in prepaid taxes = $200 in fees (and lost taxable interest of $10) I can capture 120,000 UR. Sounds like a good deal to me.

I'm unimpressed by the idea to buy $10,000 in gift cards to spend over time, because that's just going to make it harder to meet spend requirements for future cards.

Edited: Oh, I think I see. I could buy 20 $500 gift cards and use those instead, plus 1 gift card for the residual spend, for $60+ in fees, but subject to having to telephone to use multiple cards rather than pay on-line. That makes sense as an option, but it's not worth my time.

hamhead

Money orders.