Jan 30

Do I have to pay taxes on credit card rewards?

Credit Cards 6 Comments »
credit card rewards
I may already be paying some fees to the credit card company or interest for which I am not really getting any tax break. So if the credit card gives me some rewards, or cash back…its just like they are giving me discount on money I am already paying them. It shouldn’t be thought of as extra income on which I need to pay state and federal taxes.
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Jan 25

I always pays my credit card in full and I like free rewards, which credit card do you recommend?

Credit Cards 1 Comment »
credit card rewards
I am willing to get a card with a high APR that offers great rewards, because I charge appx $250 a week to my card, and pay my credit card in full every 2 weeks. I am interested in miles, gifts, or any other rewards that pay generously. Do you recommend a certain credit card/rewards program?

Thanks!

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Jan 10

Are you supposed to report credit card rewards as other income on your taxes?

Credit Cards 3 Comments »
credit card rewards
For example, Citibank has a credit card called “Citi Dividend Platinum Select”. You get 1% cashback on all your purchases. Are you legally supposed to report the rewards you get back from this as income on your 1040? Even if it’s a small amount such as about $200?
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Jan 05

What are the credit card rewards program of American Express Blue Sky Rewards Credit Card?

Credit Cards 5 Comments »
credit card rewards
I’m considering applying for Blue Sky from American Express. What are the rewards credit card program benefits and features of Blue Sky American Express?
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Jan 04

How do credit card rewards work?

Credit Cards 1 Comment »
credit card rewards
I just signed up for an Amazon Visa credit card, It says that for every dollar I spend I will gain a point….Once I get to 2500 points that I will get a $25 gift card. I have a vacation coming up in March and we are going to pay cash. Can I simply put the vacation on this card and immediately send payment and get the reward? Or do you think it has to stay on the card for a certain amount of time.
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Jan 05

What is the best credit card rewards program?

Best Credit Cards 5 Comments »
Best Credit Card
I currently have a Bank of America credit card in which I earn no rewards from using. Because I’m starting to use it more and more, I’ve decided it’s time to switch to a credit card where I can earn rewards. I’m wondering if people have suggestions on the best credit card to get based on the rewards/incentives associated with it?
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Jul 26

When comparing credit card rewards, how much money is 1 frequent flyer mile worth?

Compare Credit Cards 3 Comments »
credit cards compare
That is, if you card offered 1 mile per dollar and another card offer 5 cents a dollar.

How would you compare the two? What dollar amount would an air mile be roughly equivalent to?
Thanks for your answer Spiffer.

You sound like you know more what you’re doing than I do.

I’m not talking about “points.” That doesn’t mean anything. But a mile and a dollar (or a penny) are real amounts. How do you compare them?

Or, if you’d rather, how do you go about finding the very best rewards on your credit card?

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