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Hi Everyone,
Ok, I know the title sounds stupid but hear me out....
We have to do some construction work on our home. The contractor does not currently accept CC's but I would like to use my Citi Double Cash card since it the project will cost about 12k, I'd like to gain the 2%CB if I run it through the card. So, my question is, since the contractor doesn't accept CC's, is there a way that I'm missing to still gain the CB for the transaction... like a balance transfer etc? Ideally, I'd like to not accrue interest in all this either, we have the cash to pay it off also.
I just feel like I'm overlooking an option somehow.
Thank you!!
@Peanutbutter wrote:Hi Everyone,
Ok, I know the title sounds stupid but hear me out....
We have to do some construction work on our home. The contractor does not currently accept CC's but I would like to use my Citi Double Cash card since it the project will cost about 12k, I'd like to gain the 2%CB if I run it through the card. So, my question is, since the contractor doesn't accept CC's, is there a way that I'm missing to still gain the CB for the transaction... like a balance transfer etc? Ideally, I'd like to not accrue interest in all this either, we have the cash to pay it off also.
I just feel like I'm overlooking an option somehow.
Thank you!!
Look into Plastiq. They will send a paper check to the recipient (no fees for the recipient, just cash like a normal check). However, it's more than likely the transaction fee they charge will offset any rewards you may gain from using it. It's a great way to meet minimum spend but not necessarily profitable for ongoing use.
@Peanutbutter wrote:Hi Everyone,
Ok, I know the title sounds stupid but hear me out....
We have to do some construction work on our home. The contractor does not currently accept CC's but I would like to use my Citi Double Cash card since it the project will cost about 12k, I'd like to gain the 2%CB if I run it through the card. So, my question is, since the contractor doesn't accept CC's, is there a way that I'm missing to still gain the CB for the transaction... like a balance transfer etc? Ideally, I'd like to not accrue interest in all this either, we have the cash to pay it off also.
I just feel like I'm overlooking an option somehow.
Thank you!!
Could you buy some of the materials? as stated above there are some services that will take a CC and send a check but typically have fees greater than the cash back you would earn.
Also keep in mind pretty much all major credit cards exclude BT from recieving cash back.
See if they can send you some convenience checks to use for the payment to contractor. Bonus with that is, a lot of them come with a promo APR...sometimes 0%
I'm not sure balance transfers qualify for the 2% cashback on the Citi Double Cash anyway.
ETA: According to their website, no, balance transfers do not qualify.
@Anonymous wrote:I'm not sure balance transfers qualify for the 2% cashback on the Citi Double Cash anyway.
ETA: According to their website, no, balance transferes do not qualify.
Balance transfers does not qualify for cash back.
Find another contractor who's up to par with the 21st century.
I'd tell him to get lost because he doesn't take credit cards. Many contractors will happily take plastic for your business. The guy probably doesn't want to pay taxes on top of the fees.
@Anonymous wrote:Find another contractor who's up to par with the 21st century.
I'd tell him to get lost because he doesn't take credit cards. Many contractors will happily take plastic for your business. The guy probably doesn't want to pay taxes on top of the fees.
I would find another contractor. You have some protection if you pay the contractor directly with a credit card. That's a lot of money to pay someone in cash.
@Anonymous wrote:
^ What he said. I don't understand how there are still businesses that don't accept plastic. With options like Square and readers for your iPhone, it's so easy nowadays.
Well, as the post above said, probably trying to avoid taxes, which is a big motivation