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IRS Loan Agreement Payments

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Cazzieboy
Established Member

IRS Loan Agreement Payments

Hey Everyone,

Just wanting clarification on what is probably not that big of a deal. In the past I have been making payments to the IRS on a loan agreement with a debit card out of my checking. Want to begin making those payments for a while with a bank credit card. My question is...Will making the payments with a credit card cause the card issuing bank to re-evaluate my credit status and possibly take a negative view of that status? The IRS agreement was in place before I was issued the bank credit card and was not on any credit bureau's record for consideration of the issuance of the bank card. By the way, my credit rating/performance is pretty much flawless with high 700's scores.Thanks for you thoughts.

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2 REPLIES 2
FireMedic1
Community Leader
Mega Contributor

Re: IRS Loan Agreement Payments

Why not leave it the way it is.  Paying by CC/Debit they charge a fee. Say you get 2% CB. The fee avg between all banks is 1.5%. Then if you let a couple payments build up on the credit card. Then you pay their interest.

https://thepointsguy.com/credit-cards/paying-taxes-credit-card/ 

I had some back taxes released in BK. Didnt hurt a thing during my rebuild. But if you do auto payments direct from your account. Its free.


Message 2 of 3
OmarGB9
Community Leader
Super Contributor

Re: IRS Loan Agreement Payments

To answer your question, fees aside, no, it shouldn't affect anything. CC companies just see it as a regular purchase since IRS CC payments are process by a third party vendor. 


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