Friday, March 17, 2017
Property Taxes Are Coming Up....To Charge or not to charge?
It's a fact of life .... property taxes. Twice a year, we are faced with this looming tax on our homes. But what if you could turn that tax around and make it work for you to earn free travel?
Now it's not quite so bad, right?
You can pay your taxes online with a credit card, yes, you will incur a fee of 2-3%, but even if you pay a $100 in fees, if the charge nets you two roundtrip plane tickets to Europe, it's worth it.
Now with a big expense like this, I like to put it on a brand new credit card to help reach the minimum spend.
You could just put it on a card you already have but you will probably earn just 1 mile/point per $1 spent which is okay, but if you get a bonus by charging this expense, now we are talking some serious bank.
For example, we just applied for a Starwood Business American Express card with the increased bonus of 35,000 points for $5,000 spend in 3 months and an additional $3,000 spend in the first 6 months. Our property taxes will net us almost the entire $5,000 spend and then with just regular spending, we can earn the 35,000 points.
35,000 Starwood points are the most valuable points out there. They can get us multiple hotel stays or we can transfer them to airlines and get the additional bonus 5,000 miles for airlines tickets. Starwood merged with Marriott recently so you can transfer Starwood points to Marriott at 1:3.
The Chase Sapphire Preferred is another favorite of mine. Right now, you can spend $4,000 and get 50,000 ultimate rewards points. The $95 fee is waived for the first year. You can use these for hotels, airlines, experiences, cash back and gift cards. Add an authorized user and get another 5,000 points.
Another idea would be the American Express Gold Business Card. With a $5,000 minimum spend, you earn 50,000 American Express membership points. Fee is waived for the first year. OR try the American Express Gold Personal Card with a $2,000 minimum spend and a bonus of 25,000 points. Fee is waived for the first year. I have seen higher bonus offers for this card so it may not be the best option.
Property taxes are a fact of life, but at least there's a silver lining and you can travel for free!
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