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Keeping Credit Cards Active

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Erusidhion
Frequent Contributor

Re: Keeping Credit Cards Active

 

    Wow. That is an amazing idea that I hadn't even considered. When you make a charitable contribution it's a tax deduction at the end of the year right so you would get it back? I'm going to have to research more about this. I wouldn't mind charging $1.00 to $2.00 per card for charity. Thanks for the suggestion.

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Utilization: 9% AAoA: 20 months Total History: 3Y
Updated: 08/04/2017 Premier 3B
Message 11 of 12
core
Valued Contributor

Re: Keeping Credit Cards Active


@Erusidhion wrote:

 

When you make a charitable contribution it's a tax deduction at the end of the year right so you would get it back?


It's only a deduction if you itemize.  And no you wouldn't get it all back, just the amount of your marginal tax rate... 10% or 39% or whatever.

Message 12 of 12
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