topic Re: Qualifying for Subs in Credit Cards

Qualifying for Subs

dynamicvb — Tue, 23 Apr 2019 12:41:05 GMT

So I just picked up the Cap One Savor One with a 10K SL recently. In hindsight, I probably should have gone with the Savor for the better sub, but at the time did not think I could meet it as I don't spend a lot on CC's. Regardless, got the taxes done and turns out I owe some bucks to uncle sam. I got to thinking, just pay this with the card and net the 150 bucks off the bill right away. but then got to thinking would CapOne honor the sub if I did this. Does anyone know if subs are limited to certain transactions or could paying something like a tax bill still be counted? You do have to go through a third party and pay the fees your self to use a card to pay Uncle Sam, so they would get their fees, I'm just not sure if they would not count this differently like a cash advance which would not count.

Thoughts?

Re: Qualifying for Subs

Anonymous — Tue, 23 Apr 2019 12:43:34 GMT

A cash advance is different from what I know, where other transactions are purchases and shouldn't matter. I believe that paying your tax bill would be just fine in terms of hitting the SUB spend requirement, just like any other bill such as electric, gas/oil etc.

Re: Qualifying for Subs

Anonymous — Tue, 23 Apr 2019 12:44:32 GMT

We actually intend to do the same thing with the Navy card! Glad I'm not the only one that thought to do this!

Re: Qualifying for Subs

Shooting-For-800 — Tue, 23 Apr 2019 13:14:46 GMT

My guess is, if the vendor has to pay fees, it counts.

Re: Qualifying for Subs

Anonymous — Tue, 23 Apr 2019 13:59:43 GMT

It will count, but just make sure there aren't other options for the spend. Savor One will give you 1% back, whereas the fee is going to be just a bit under 2% So if you have other ways of meeting the SUB without extra fees, that's a better approach. If not, unless you are paying LOTS in taxes, the SUB will more than make up for the fee.

Re: Qualifying for Subs

wasCB14 — Tue, 23 Apr 2019 16:01:54 GMT

$3000 in CA state taxes + $69 in fees (Franchise Tax Board via Official Payments) is how I met minimum spend on Savor and got $500. My total spend on the card has only been about $3200, so it definitely counted.

I've used Pay1040, PayUSATax, Official Payments CA state, and NY state DTF. All payents have involved a processing fee but have coded correctly as purchases.

For larger tax bills, there are better options like BBP, CFU with CSR, and BofA Travel/Premium 2.625%.

Re: Qualifying for Subs

pinkandgrey — Tue, 23 Apr 2019 16:10:49 GMT

You can definitely do this. However, keep in mind that there will be fees for putting your tax bill on a CC. I paid mine with a CC though, too!

Re: Qualifying for Subs

dynamicvb — Tue, 23 Apr 2019 18:00:04 GMT

This is a little over 2300, so fees are going to be about 47 and I'll get half of that back in cash back along with the 150 sub, then net about 125. I can see what everyone is saying that I could get more by just swiping especially if I keep most of the spend in restaurants at 3%, but still leaning towards doing it with the card. Mainly because I don't really want to pay this right now and I do have the 0% on the card for the next 15 months.

Thanks to everyone who confirmed this does work.

Re: Qualifying for Subs

Anonymous — Tue, 23 Apr 2019 22:10:55 GMT

If your savings/nest egg is low, paying the $47 fee is the right choice, as you'll be paying it with part of your free money (SUB) and it is 0% APR. Best to have cash on hand in case of emergency/cash is 'flexible' (liquid).

You could also stick that 2300 + the remaining SUB into a high yield 6-12 month CD or savings account for a return of anywhere between 2 and 2.7%, which would outgrow the $47 fee. (2400*.0225 = 54)

Re: Qualifying for Subs

Revelate — Wed, 24 Apr 2019 07:37:19 GMT

Likewise use tax payments to make SUB’s.

Made Marriot that way, may need to use it for CIP too if my travel expenses don’t get there over the next few months.

Outside of that though, in my case CFU w/CSR.