American Express cardholders may not be able to use their card at every single small business in the country, but the still widely accepted credit giant announced on Monday that customers could now use their rewards points to their tax bills. Several card companies offer programs that offer airline miles, gasoline credits, other rewards, but American Express’ new program to use reward points to pay taxes is an industry first. CNN Money.com posted an article this morning on AmEx’s announcement; you can find a clip from their story below.
AmEx (AXP, Fortune 500) cardholders can use the points toward federal, state and local income tax payments when they use one of two Web sites to file their taxes: Pay1040.com and OfficialPayments.com.
But to pay off $5,000 in taxes a cardmember would have to charge $1 million.
That's because it takes a whopping 200 points to pay off just $1 in taxes. And, according to an AmEx spokeswoman, cardmembers typically earn about one point for every dollar charged to their credit card.
"In light of the economy, we wanted to give cardmembers a practical use for their rewards points," said spokeswoman Mona Hamouly.
Tuesday, January 12, 2010
Use American Express Points to Pay Taxes
Labels:
american express,
banks,
credit cards,
tax paying,
tax return,
us taxpayers
Blog Archive
-
▼
2010
(1176)
-
▼
January
(68)
- Roni Deutch Tax Center / Sacramento Kings Commercial
- Senate Permits Government to Borrow an Additional ...
- White House Plans to Lend $30 Billion to Small Banks
- IRS Hits Cardinals' Antrel Rolle With $2.2 Million...
- Latest Good Reads
- Tax Prep Checklist - 10 Things to Bring to your Ta...
- New Roni Deutch Tax Center Commercials
- Geithner Says A.I.G. Rescue Prevented a Depression
- Daily Tax Tips for 2010
- Oregon Approves Tax Increase on Top-Earners, Business
- Spend. Cut. Obama's Tough Spot on Debt
- Bill Gates suggests Tax Increase in the U.S
- Turning Your Tax Refund Into an I Bond May Be a Sm...
- Open a Checking Account, Get $100
- Questions for the Tax Lady: January 25th, 2010
- Job Creation Will Be Administration's Main Focus I...
- Why Can’t the I.R.S. Help Fill in the Blanks?
- Roni Deutch Tax Center Ready to Help Local Volunteers
- House Votes for Faster Tax Breaks for Haiti Gifts
- Latest Good Reads
- President Obama Directs Administration to Crack Do...
- Initial Jobless Claims Unexpectedly Rise
- 10 Ways to Make Tax Deductible Donations to Haiti
- Permit Request Jump, Signaling Construction Increases
- Hey, Big Spender: Bundle's Gender Breakdown
- Big Banks vs. Obama
- The First Small Business Loan Of The Year Goes To ...
- Comparing and Contrasting the Two Health Care Bill...
- Five Alarming Tactics Used by Dishonest Tax Relief...
- Citigroup Q4 Loss Narrows, Loans Seem to Stabilize
- Retiree Annuities May Be Promoted by Obama Aides
- The Home Office Deduction
- Questions for the Tax Lady: January 18th, 2010
- Harmonic Tax Advice for Musicians
- Bank Tax Unfair, To Have Serious Effects - Bank Group
- IRS e-file: It’s Safe; It’s Easy; It’s Time
- Federal Reserve Makes Record $52.1bn Profit
- Stuck in the Mud: IRS Spins its Wheels on Electron...
- Wall Street Chiefs Defend Compensation At Firms
- The New Estate-Tax Math: Give to Charity or Your C...
- Should the Government Tax Bailed-out Banks to Reco...
- The Most Valuable Teams In Sports
- IRS Announces Streamlined and Simplified Notices t...
- Use American Express Points to Pay Taxes
- Top 10 Money-Savvy New Year’s Resolutions
- Questions for the Tax Lady: January 11th, 2010
- Crying Foul, Ex-UBS Banker Starts Prison Term
- Sarkozy Proposes Ad Tax on Google
- Shrinking U.S. Labor Force Keeps Unemployment Rate...
- Schwarzenegger Wants More Federal Money for Califo...
- National Taxpayer Advocate Delivers Annual Report ...
- Estate-Tax Repeal Means Some Spouses Are Left Out
- Obama OKs Taxing High-End Health Plans
- Latest Good Reads
- Watchdog Warns IRS Is Overburdened
- 7 Easy Steps to an Early Tax Refund
- Moving Your Money? Then Try a Credit Union
- 20 Ways House, Senate Financial Reforms Differ
- Schwarzenegger Proposes New Round of Homebuyer Tax...
- UBS Informant Files Complaint With DOJ
- U.S. Job Satisfaction Hits 22-Year Low
- IRS Tightens Rules on Tax Preparers
- Watch for Sneaky New Bank Charges
- Top 10 Tax Stories of 2009
- Questions for the Tax Lady: January 4th, 2010
- Lack of Estate Tax in 2010: Now Cheaper to Die?
- Are Taxes the Root of Unhappiness?
- Expanded 120-Day Time Window Applies to Disclosure...
-
▼
January
(68)