Credit Cards Offering Tax Service Saving Rewards 2024
![Credit Cards Offering Tax Service Saving Rewards](/personal-finance/static/762df235608ebe6db1ab9cc9192e193d/8ae18/credit-cards-offering-tax-service-saving-rewards.jpg)
Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partnersโ links. This content is created by TIME Stamped, under TIMEโs direction and produced in accordance with TIMEโs editorial guidelines and overseen by TIMEโs editorial staff. Learn more about it.
Credit cards have all kinds of perks these days, but one that not all credit card users are aware of is paying your taxesโor paying for tax-preparation services or softwareโwith a credit card. Specifically, several credit card issuers offer savings on tax services when you pay with one of their cards.
If you prepare your own taxes to save money, paying with a credit card may help you save even more. Plus, credit cards come with attractive benefits, such as welcome offers and 0% introductory APRs, sweetening the deal even more. You just have to make sure to pay the card off at the end of the month so that interest charges donโt wipe out the potential savings you might realize by paying with a credit card.
Card name | For tax software | Offer | Regular APR | Annual fee | Minimum credit score |
---|---|---|---|---|---|
30% back (statement credit) | reg_apr,reg_apr_type (Rates & Fees) | annual_fees (Rates & Fees) | credit_score_needed | ||
9% back (statement credit) | reg_apr,reg_apr_type | annual_fees | credit_score_needed | ||
$5 to $15 off | reg_apr,reg_apr_type | annual_fees | credit_score_needed | ||
Get 6% back (statement credit) | reg_apr,reg_apr_type | annual_fees | credit_score_needed |
Some of the most popular credit cards come with an offers program that may include discounts on tax-filing services. American Express, Capital One, and Chase are just a few examples of card issuers that may have these discounts. However, these offers typically have an expiration date, so check with your card issuer to see if there are any active offers for tax services.
In addition, discounts are only available for specific software or services. So, if you are using a particular service, itโs worth checking to see if it offers a credit card discount.
The card_name is among the best choices for filing your taxes, thanks in part to the 30% statement credit on TaxAct from Amex Offers. This is one of the biggest discounts on tax filing available, especially if you opt for TaxActโs costlier services.
This card includes a $250 welcome offer, but it requires you to spend $3,000 in the first six months. Still, six months is plenty of time to meet your spending requirement, and it may not take long if you have a large tax bill coming due. Thereโs no annual fee for the first year, but it has a annual_fees annual fee thereafter (Rates & Fees).
The card_name is also a great credit card overall. Despite the annual fee, it earns 6% cash back on up to $6,000 in groceries per year, 6% back on streaming, and 3% back on gas and transit. The card also includes a $7 monthly statement credit when you spend $12.99 per month on Disney streaming services, for a total of $84 in statement credits per year.
card_nameCapital One cardholders can get a 10% statement credit on H&R Block tax filing services through Capital One Offers. Thatโs one of the better discounts available and can help you save a significant amount when you file.
The card_name is also a premium travel card, and its annual_fees annual fee reflects that. However, that is much lower than the fee youโll pay for competing cards, such as the card_name (annual_fees). It includes a $300 travel credit, which nearly pays for the annual fee on its own. In addition, it earns 10x miles on hotels and rental cars booked through Capital One Travel and 5x miles on flights booked through the portal. It earns 2x miles on all other purchases. If youโre a frequent traveler, this is a great choice for paying your taxes.
Introductory Offer:
Card Rewards:
Additional Benefits:
Member FDIC
card_name cardmembers can get $5 to $15 off TurboTax through Chase Offers. Specifically, you get $5 off Deluxe, $10 off Premier, and $15 off Self-Employed tax filing services from TurboTax. While these are modest discounts, itโs nice that the discount is immediate and not a statement credit.
The card_name also happens to be one of the best credit cards available from Chase. Although it has a annual_fees annual fee, you can offset that with $50 in statement credits on hotel stays booked through Chase Ultimate Rewards. Plus, the card earns 5x points on travel booked through Chase Ultimate Rewards. It also earns 3x points on dining, 3x on groceries, 3x on streaming, and 2x on all other travel purchases.
Capital One cardmembers can get 6% back as a statement credit on TaxSlayer services, in addition to the 8% credit on TurboTax mentioned earlier. With no annual fee, this card could be an easy way to save on tax filing.
This card also includes extra benefits, such as a 20,000-point welcome offer after you spend $500 within the first three months of opening your account. The low spending requirement makes this a relatively easy goal to reach.
In addition to this benefit, card_name earns 1.25 miles on every purchase and you can earn five miles per dollar on hotels and rental cars booked through Capital One.
You can reap the benefits of paying your taxes with a credit card in several different ways. Here is a quick overview:
Again, keep in mind that this assumes you will pay your credit card bill in full every month. Only pursue this strategy if your finances are in order.
While there are many benefits to paying taxes with a credit card, there can also be disadvantages. Hereโs a quick look at some of the biggest potential drawbacks:
If you pay your taxes with a credit card, you could save money in the form of a discount on services or cash back. Some of the most popular card issuers offer these benefits during tax season. Depending on the offer, this can help you save money on your taxes. Credit cards also have many other benefits, including welcome offers, cash back, and travel discounts.
However, there may be a fee if you pay your taxes with a credit card. And if you donโt pay your bill on time, there may be interest, penalties, and fees that can wipe out your discount entirely. Be sure to read your card issuerโs fine print so you know what to expect before deciding to move ahead with this strategy.
The information presented here is created by TIME Stamped and overseen by TIME editorial staff. To learn more, see our About Us page.