Is it worth paying tax via credit card?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The humblebragging on this thread is too funny.

Only one idiot taking 6 vacations

Actually, we travel for leisure at least once a month – only 5-6 of these trips are long enough (4+ nights) to be considered luxury vacations (e.g, this year it is Bali, Singapore, London, Tokyo, Maui, and Prague). Our shorter 2-3 night getaways are always via direct flights over long weekends (e.g., this year it is Punta Cana, NYC, Las Vegas, Turks & Caicos, New Orleans, Mexico City, Napa Valley, and Lisbon).

Or I guess we could just stay at home, pay all our bills with bank transfers, ignore the wonders of CC benefits and travel, clip coupons, and sip on glasses of boxed wine while endlessly watching YouTube videos like all the other DCUMs. Oh but we could spice it up with an occasional splurge on an overnight to Rehoboth Beach or maybe even the Greenbrier. Pathetic.

I am intrigued. How much do you spend on CCs a year? Do you just use the chase freedom card? How do you keep up with converting points etc?

So because she’s a SAHM she has time to run these endless spreadsheets how to maximize her DH benefits.
Most people don’t have time for that

[Anonymous]

Anonymous wrote:Also, learn how to flex your time within a twice-monthly pay period. Example: we fly IAD-HND on Saturday 06/13 landing in Tokyo on 6/14 at 3:55pm. We stay in Tokyo for 7 nights. We fly HND-IAD on Sunday 6/21 landing in D.C. on 6/21 at 3:50pm. Flying over two weekends means we need only 5 days of PTO, but this trip is over Juneteenth (Friday 06/19) which means we only need 4 days. By flexing time and front-loading hours in the 06/01-06/15 pay period we can avoid using PTO on Monday 06/15. By flexing time and back-loading hours in the 06/16-06/30 pay period, we can also avoid using PTO on Tuesday 06/16. And, voila, we really only need two days of PTO to enjoy a 7-night luxury vacation in Japan.

Repeat this 5 more times and use only 12 days of PTO total for 6 trips. Have shorter 4-6 night trips and use even fewer days of PTO.

I feel bad for the people too stupid to figure this stuff out….

I admire your efforts here. I'd need a vacation just from figuring it all out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The humblebragging on this thread is too funny.

Only one idiot taking 6 vacations

Actually, we travel for leisure at least once a month – only 5-6 of these trips are long enough (4+ nights) to be considered luxury vacations (e.g, this year it is Bali, Singapore, London, Tokyo, Maui, and Prague). Our shorter 2-3 night getaways are always via direct flights over long weekends (e.g., this year it is Punta Cana, NYC, Las Vegas, Turks & Caicos, New Orleans, Mexico City, Napa Valley, and Lisbon).

Or I guess we could just stay at home, pay all our bills with bank transfers, ignore the wonders of CC benefits and travel, clip coupons, and sip on glasses of boxed wine while endlessly watching YouTube videos like all the other DCUMs. Oh but we could spice it up with an occasional splurge on an overnight to Rehoboth Beach or maybe even the Greenbrier. Pathetic.

I am intrigued. How much do you spend on CCs a year? Do you just use the chase freedom card? How do you keep up with converting points etc?

So because she’s a SAHM she has time to run these endless spreadsheets how to maximize her DH benefits.
Most people don’t have time for that

Married to a Senior EXECUTIVE.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No, you have to pay a 3% fee. That would be almost $4000 for me this year and my credit limit isn't that high anyway.

OP, unlike this moron, we follow IRS suggestions and use Pay1040 to make periodic tax payments at a very reasonable rate of 1.75%. We use our Chase Freedom Unlimited card (which has a $75K limit) to make estimated quarterly payments of around $53K each. This works out to be about $3710 in fees. The spending earns us 1.5X per dollar spent which is about 318K Chase points per year. We also have a CSR credit card which allows us to transfer 1:1 to Hyatt points which are nominally valued at about 1.7¢ each. This means we’re getting at least $5406 in value for only a $3710 expense.

Truthfully, though, we cash in those 318K Hyatt points to book multiple rooms or suites for week-long vacations at places like the Park Hyatt Maldives, Alila Ventana Big Sur, or the Impressions by Secrets in Cancun.

DH and I are staying at the Park Hyatt Tokyo in June for 7 nights using 315K points plus a Suite Upgrade Certificate. This is peak pricing! The cash price for the most entry level room over the same dates is $14K. When you factor in the suite upgrade, we’re looking at a standard suite that would otherwise cost $22K.

So, yeah, we’re cool spending an extra $4K in CC fees to land a luxury suite in Tokyo that would cost a cash-paying customer an extra $18K. This is why our family takes 5-6 luxury vacations every year to most people’s 1-2.

Yeah, I know they link from the IRS website, but these IRS tax payment websites look so shady. I don’t want to deal with a several thousand dollar chargeback and missed tax payment because of fraud of incompetence in cybersecurity.

Look at these websites: https://www.pay1040.com/

We used Quicken, which honestly feels sketchy enough despite being the standard.

We pay bank transfer. Points are worth about than a penny unless it’s a promotion, and it’s not like you weren’t going to make it to the minimum without paying taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The humblebragging on this thread is too funny.

Only one idiot taking 6 vacations

Actually, we travel for leisure at least once a month – only 5-6 of these trips are long enough (4+ nights) to be considered luxury vacations (e.g, this year it is Bali, Singapore, London, Tokyo, Maui, and Prague). Our shorter 2-3 night getaways are always via direct flights over long weekends (e.g., this year it is Punta Cana, NYC, Las Vegas, Turks & Caicos, New Orleans, Mexico City, Napa Valley, and Lisbon).

Or I guess we could just stay at home, pay all our bills with bank transfers, ignore the wonders of CC benefits and travel, clip coupons, and sip on glasses of boxed wine while endlessly watching YouTube videos like all the other DCUMs. Oh but we could spice it up with an occasional splurge on an overnight to Rehoboth Beach or maybe even the Greenbrier. Pathetic.

Keep trying to win the admiration of anonymous strangers on the Internet, dork.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The humblebragging on this thread is too funny.

Only one idiot taking 6 vacations

Actually, we travel for leisure at least once a month – only 5-6 of these trips are long enough (4+ nights) to be considered luxury vacations (e.g, this year it is Bali, Singapore, London, Tokyo, Maui, and Prague). Our shorter 2-3 night getaways are always via direct flights over long weekends (e.g., this year it is Punta Cana, NYC, Las Vegas, Turks & Caicos, New Orleans, Mexico City, Napa Valley, and Lisbon).

Or I guess we could just stay at home, pay all our bills with bank transfers, ignore the wonders of CC benefits and travel, clip coupons, and sip on glasses of boxed wine while endlessly watching YouTube videos like all the other DCUMs. Oh but we could spice it up with an occasional splurge on an overnight to Rehoboth Beach or maybe even the Greenbrier. Pathetic.

I am intrigued. How much do you spend on CCs a year? Do you just use the chase freedom card? How do you keep up with converting points etc?

So because she’s a SAHM she has time to run these endless spreadsheets how to maximize her DH benefits.
Most people don’t have time for that

Married to a Senior EXECUTIVE.

You will address me by my husband's paycheck!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The humblebragging on this thread is too funny.

Only one idiot taking 6 vacations

Actually, we travel for leisure at least once a month – only 5-6 of these trips are long enough (4+ nights) to be considered luxury vacations (e.g, this year it is Bali, Singapore, London, Tokyo, Maui, and Prague). Our shorter 2-3 night getaways are always via direct flights over long weekends (e.g., this year it is Punta Cana, NYC, Las Vegas, Turks & Caicos, New Orleans, Mexico City, Napa Valley, and Lisbon).

Or I guess we could just stay at home, pay all our bills with bank transfers, ignore the wonders of CC benefits and travel, clip coupons, and sip on glasses of boxed wine while endlessly watching YouTube videos like all the other DCUMs. Oh but we could spice it up with an occasional splurge on an overnight to Rehoboth Beach or maybe even the Greenbrier. Pathetic.

I am intrigued. How much do you spend on CCs a year? Do you just use the chase freedom card? How do you keep up with converting points etc?

So because she’s a SAHM she has time to run these endless spreadsheets how to maximize her DH benefits.
Most people don’t have time for that

Married to a Senior EXECUTIVE.

You will address me by my husband's paycheck!

[Anonymous]

Anonymous wrote:

Anonymous wrote:No, you have to pay a 3% fee. That would be almost $4000 for me this year and my credit limit isn't that high anyway.

OP, unlike this moron, we follow IRS suggestions and use Pay1040 to make periodic tax payments at a very reasonable rate of 1.75%. We use our Chase Freedom Unlimited card (which has a $75K limit) to make estimated quarterly payments of around $53K each. This works out to be about $3710 in fees. The spending earns us 1.5X per dollar spent which is about 318K Chase points per year. We also have a CSR credit card which allows us to transfer 1:1 to Hyatt points which are nominally valued at about 1.7¢ each. This means we’re getting at least $5406 in value for only a $3710 expense.

Truthfully, though, we cash in those 318K Hyatt points to book multiple rooms or suites for week-long vacations at places like the Park Hyatt Maldives, Alila Ventana Big Sur, or the Impressions by Secrets in Cancun.

DH and I are staying at the Park Hyatt Tokyo in June for 7 nights using 315K points plus a Suite Upgrade Certificate. This is peak pricing! The cash price for the most entry level room over the same dates is $14K. When you factor in the suite upgrade, we’re looking at a standard suite that would otherwise cost $22K.

So, yeah, we’re cool spending an extra $4K in CC fees to land a luxury suite in Tokyo that would cost a cash-paying customer an extra $18K. This is why our family takes 5-6 luxury vacations every year to most people’s 1-2.

Certainly this is unassailable logic. Because no one has ever had health issues or family issues that prevent planned travel. And we all know that hotel and airline points program NEVER devalue their points currency.

PP, the certainly with which you speak makes you look foolish.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, you have to pay a 3% fee. That would be almost $4000 for me this year and my credit limit isn't that high anyway.

OP, unlike this moron, we follow IRS suggestions and use Pay1040 to make periodic tax payments at a very reasonable rate of 1.75%. We use our Chase Freedom Unlimited card (which has a $75K limit) to make estimated quarterly payments of around $53K each. This works out to be about $3710 in fees. The spending earns us 1.5X per dollar spent which is about 318K Chase points per year. We also have a CSR credit card which allows us to transfer 1:1 to Hyatt points which are nominally valued at about 1.7¢ each. This means we’re getting at least $5406 in value for only a $3710 expense.

Truthfully, though, we cash in those 318K Hyatt points to book multiple rooms or suites for week-long vacations at places like the Park Hyatt Maldives, Alila Ventana Big Sur, or the Impressions by Secrets in Cancun.

DH and I are staying at the Park Hyatt Tokyo in June for 7 nights using 315K points plus a Suite Upgrade Certificate. This is peak pricing! The cash price for the most entry level room over the same dates is $14K. When you factor in the suite upgrade, we’re looking at a standard suite that would otherwise cost $22K.

So, yeah, we’re cool spending an extra $4K in CC fees to land a luxury suite in Tokyo that would cost a cash-paying customer an extra $18K. This is why our family takes 5-6 luxury vacations every year to most people’s 1-2.

Certainly this is unassailable logic. Because no one has ever had health issues or family issues that prevent planned travel. And we all know that hotel and airline points program NEVER devalue their points currency.

PP, the certainly with which you speak makes you look foolish.

PP here who earlier said it makes sense when chasing a big signup bonus, but probably not in most other cases. Have been in the points/miles world for a long time, getting most points from big signup bonuses. Have spent a lot of time redeeming Amex, Chase, etc points into various hotel and airline currencies. The valuations presented by THAT PP were on the high end, and assumed certainty of availability that you should never have. For example, Alila Ventana Big Sur might only have saver availability right now for a few mid-week days a year in advance. And it's not reasonable to compare cash prices at luxury places if you would never pay those out of pocket-had a friend who used Chase-->Hyatt for a weekend at a luxury hotel in Napa Valley. I think it was around 130k points for a 3 night stay, the hotel would have been around $1600/night in cash. You could calculate that as 3.7 cents per point in value, but this was a splurge in points gained from bonuses, if they were paying out of pocket they probably would have stayed at the Hilton Garden Inn (still probably $600/night because it's Napa) and been fine with it.

Well said in that "certainty makes one look foolish". There is a lot to learn in this game, and the nuances are where you get a lot of value. PP would have so many more points than 318k/year from estimated taxes of $200k/year if they were getting big bonus cards like the Amex Biz Plat and using those strategically. Could easily be above 1 million/year in Amex points just from that alone. Personally I would never pay taxes with a credit card for unbonused spend. Juice not worth the squeeze.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, you have to pay a 3% fee. That would be almost $4000 for me this year and my credit limit isn't that high anyway.

OP, unlike this moron, we follow IRS suggestions and use Pay1040 to make periodic tax payments at a very reasonable rate of 1.75%. We use our Chase Freedom Unlimited card (which has a $75K limit) to make estimated quarterly payments of around $53K each. This works out to be about $3710 in fees. The spending earns us 1.5X per dollar spent which is about 318K Chase points per year. We also have a CSR credit card which allows us to transfer 1:1 to Hyatt points which are nominally valued at about 1.7¢ each. This means we’re getting at least $5406 in value for only a $3710 expense.

Truthfully, though, we cash in those 318K Hyatt points to book multiple rooms or suites for week-long vacations at places like the Park Hyatt Maldives, Alila Ventana Big Sur, or the Impressions by Secrets in Cancun.

DH and I are staying at the Park Hyatt Tokyo in June for 7 nights using 315K points plus a Suite Upgrade Certificate. This is peak pricing! The cash price for the most entry level room over the same dates is $14K. When you factor in the suite upgrade, we’re looking at a standard suite that would otherwise cost $22K.

So, yeah, we’re cool spending an extra $4K in CC fees to land a luxury suite in Tokyo that would cost a cash-paying customer an extra $18K. This is why our family takes 5-6 luxury vacations every year to most people’s 1-2.

Certainly this is unassailable logic. Because no one has ever had health issues or family issues that prevent planned travel. And we all know that hotel and airline points program NEVER devalue their points currency.

PP, the certainly with which you speak makes you look foolish.

She clearly has lots of free time in her hands if she bothers to run all these points have for $1696 savings a year.

As a working woman, my time is literally worth $1300/hr. I will loose more money trying to save some negligible amount

It’s the same as spending half a day shopping at Costco vs just buying groceries from Whole Foods actual the street.

[Anonymous]

You can listen to some podcasts about it. I have found it’s not worth it for us, even when chasing a sign up bonus. We can hit bonuses with other spend that doesn’t also charge a transaction fee so we don’t like to pay fees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No, you have to pay a 3% fee. That would be almost $4000 for me this year and my credit limit isn't that high anyway.

OP, unlike this moron, we follow IRS suggestions and use Pay1040 to make periodic tax payments at a very reasonable rate of 1.75%. We use our Chase Freedom Unlimited card (which has a $75K limit) to make estimated quarterly payments of around $53K each. This works out to be about $3710 in fees. The spending earns us 1.5X per dollar spent which is about 318K Chase points per year. We also have a CSR credit card which allows us to transfer 1:1 to Hyatt points which are nominally valued at about 1.7¢ each. This means we’re getting at least $5406 in value for only a $3710 expense.

Truthfully, though, we cash in those 318K Hyatt points to book multiple rooms or suites for week-long vacations at places like the Park Hyatt Maldives, Alila Ventana Big Sur, or the Impressions by Secrets in Cancun.

DH and I are staying at the Park Hyatt Tokyo in June for 7 nights using 315K points plus a Suite Upgrade Certificate. This is peak pricing! The cash price for the most entry level room over the same dates is $14K. When you factor in the suite upgrade, we’re looking at a standard suite that would otherwise cost $22K.

So, yeah, we’re cool spending an extra $4K in CC fees to land a luxury suite in Tokyo that would cost a cash-paying customer an extra $18K. This is why our family takes 5-6 luxury vacations every year to most people’s 1-2.

Oh FFS.

[Anonymous]

This thread is crazy. Some lady is bragging about her "executive" husband and crazy ass intricate credit card scheme. The big payoff is a really long flight and 2-3 day luxury vacation! Haha

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, you have to pay a 3% fee. That would be almost $4000 for me this year and my credit limit isn't that high anyway.

OP, unlike this moron, we follow IRS suggestions and use Pay1040 to make periodic tax payments at a very reasonable rate of 1.75%. We use our Chase Freedom Unlimited card (which has a $75K limit) to make estimated quarterly payments of around $53K each. This works out to be about $3710 in fees. The spending earns us 1.5X per dollar spent which is about 318K Chase points per year. We also have a CSR credit card which allows us to transfer 1:1 to Hyatt points which are nominally valued at about 1.7¢ each. This means we’re getting at least $5406 in value for only a $3710 expense.

Truthfully, though, we cash in those 318K Hyatt points to book multiple rooms or suites for week-long vacations at places like the Park Hyatt Maldives, Alila Ventana Big Sur, or the Impressions by Secrets in Cancun.

DH and I are staying at the Park Hyatt Tokyo in June for 7 nights using 315K points plus a Suite Upgrade Certificate. This is peak pricing! The cash price for the most entry level room over the same dates is $14K. When you factor in the suite upgrade, we’re looking at a standard suite that would otherwise cost $22K.

So, yeah, we’re cool spending an extra $4K in CC fees to land a luxury suite in Tokyo that would cost a cash-paying customer an extra $18K. This is why our family takes 5-6 luxury vacations every year to most people’s 1-2.

Certainly this is unassailable logic. Because no one has ever had health issues or family issues that prevent planned travel. And we all know that hotel and airline points program NEVER devalue their points currency.

PP, the certainly with which you speak makes you look foolish.

She clearly has lots of free time in her hands if she bothers to run all these points have for $1696 savings a year.

As a working woman, my time is literally worth $1300/hr. I will loose more money trying to save some negligible amount

It’s the same as spending half a day shopping at Costco vs just buying groceries from Whole Foods actual the street.

Only 3 mil per year? You could earn a lot more if you learn how to use leverage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, you have to pay a 3% fee. That would be almost $4000 for me this year and my credit limit isn't that high anyway.

OP, unlike this moron, we follow IRS suggestions and use Pay1040 to make periodic tax payments at a very reasonable rate of 1.75%. We use our Chase Freedom Unlimited card (which has a $75K limit) to make estimated quarterly payments of around $53K each. This works out to be about $3710 in fees. The spending earns us 1.5X per dollar spent which is about 318K Chase points per year. We also have a CSR credit card which allows us to transfer 1:1 to Hyatt points which are nominally valued at about 1.7¢ each. This means we’re getting at least $5406 in value for only a $3710 expense.

Truthfully, though, we cash in those 318K Hyatt points to book multiple rooms or suites for week-long vacations at places like the Park Hyatt Maldives, Alila Ventana Big Sur, or the Impressions by Secrets in Cancun.

DH and I are staying at the Park Hyatt Tokyo in June for 7 nights using 315K points plus a Suite Upgrade Certificate. This is peak pricing! The cash price for the most entry level room over the same dates is $14K. When you factor in the suite upgrade, we’re looking at a standard suite that would otherwise cost $22K.

So, yeah, we’re cool spending an extra $4K in CC fees to land a luxury suite in Tokyo that would cost a cash-paying customer an extra $18K. This is why our family takes 5-6 luxury vacations every year to most people’s 1-2.

Certainly this is unassailable logic. Because no one has ever had health issues or family issues that prevent planned travel. And we all know that hotel and airline points program NEVER devalue their points currency.

PP, the certainly with which you speak makes you look foolish.

She clearly has lots of free time in her hands if she bothers to run all these points have for $1696 savings a year.

As a working woman, my time is literally worth $1300/hr. I will loose more money trying to save some negligible amount

It’s the same as spending half a day shopping at Costco vs just buying groceries from Whole Foods actual the street.

Ah yes the person who bills $1300 an hour but can’t differentiate between loose and lose.