Expenses you didn’t know you could pay for with a credit card

4 hours agoLast Updated: November 17, 2024

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If you’re reading this, chances are you’re already doing all the right things when it comes to maximizing your living expenses. This may include the use of permissions credit card when eating out or shopping grocery. Maybe you even have Set up automatic payments for utility bills and insurance premiums.

However, there are plenty of big purchases that you can skip entirely. Here are some common expenses you may not have realized you could pay with a credit card.

Housing costs

Housing is one of the biggest expenses for most of us, and luckily, you can earn points on it. Through a service like plasticyou can pay your rent or mortgage with a credit card. This service charges up to 2.9%, but you can earn free Dollars by signing up with a referral link and referring others.

plastic accept all major credit cardsalthough you can only use Mastercard and Discover cards to pay your mortgage.

Besides, Mastercard® card allows cardholders to earn Bilt Points when paying rent with no transaction fees (see exchange rates and fees). With the Bilt card, you can earn rewards on your rent payments (up to 100,000 Bilt Points in a calendar year) without paying transaction fees (see exchange rates and fees And Bilt rewards and benefits).

To learn more, take a look Full review of Bilt Mastercard.

TPG founder Brian Kelly is an advisor and investor in Bilt.

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What you might not know is that you can actually buy stocks with a credit card. Through a company named storage warehouse, You can use a Visa or Mastercard credit card to purchase a Stockpile gift card, which can be redeemed for merchandise.

You cannot use an American Express card to purchase gift cards. Reserve gift cards are not available in Connecticut.

However, stock trading is risky, and if you’re in it just to earn miles, you could get into a lot of financial trouble. Always research your options thoroughly before investing in any stock.

A few years ago, I used a now-defunct website called Loyal3 to buy blue-chip stocks to meet the card’s spending requirements. The company doesn’t charge any credit card transaction fees, and I actually made a small profit selling all the stocks I bought with my card.

Buying stocks with a credit card can be worth it meet spending needs.

A car (or at least part of it)

If you’re looking for a shiny new set of wheels, you know it won’t come cheap. Lucky for you, you can pay for this purchase with credit card.

This is a case-by-case basis, but some car dealerships will let you buy a car with a credit card – or at least cover the down payment. Some dealers may charge you a transaction fee, so you’ll definitely want to address this before diving into the purchasing process.

Tesla actually allows customers to pay the initial order fee with a credit card. When I bought the Model 3, this fee was $1,000 but now it’s reduced to $250. While that won’t help you earn too many points or miles, it can help you start progress toward the welcome bonus.

Tax

Taxes have to be everyone’s least favorite expense. But they are inevitable, and in fact we can Pay taxes by credit card get rid of this chore. Currently, the lowest credit card payment fee is 1.82%. Depending on the type of credit card you use, it can really be worth it.

For example, Pursue Unlimited Freedom® earn 1.5% cash back on all purchases outside of its bonus categories. New cardholders can earn an additional 1.5% on all purchases on up to $20,000 in spending in the first year.

If you combine Chase Freedom Unlimited with Ultimate reward-money-making cards, such as Chase Sapphire Preferred® CardYour potential return is 3.08%, according to TPG as of November 2024 valuation. So even if you had to pay a 1.82% fee on your tax payment, you’d net a profit of 1.26%.

If you are saving Member reward points to redeem premium giftsthen charge your taxes to a card like Blue Business® Plus credit card from American Express can also make sense.

The card earns 2 points per dollar on the first $50,000 in purchases spent each calendar year, followed by 1 point. TPG’s pricing puts Membership Rewards Points at 2 cents each, so you’ll earn 4% interest on your tax payments, well beyond the 1.82% fee.

Medical bills

Medical bills is often considered the largest portion of consumer debt. With high credit card interest rates, charging these fees to your credit card is not advisable. But if you can get reimbursed by your health insurance company or health savings account, you’ll definitely want to charge those bills to a credit card.

Whether it’s a trip to the dentist or a prescription copay, you should try to charge all of your medical expenses to a credit card when possible. Even if it’s just a small copay, it all adds up.

The best part is that I have yet to come across a healthcare provider that charges a credit card transaction fee. However, don’t assume this is the case. Check carefully before swiping your card.

Tuition

Whichever you are a student or have children currently in college, chances are paying tuition isn’t something you look forward to every semester.

That’s why you should check with your institution to see if they accept credit card payments. You can easily earn tens of thousands of points or miles per semester at a cost that you will certainly incur.

Before you do, be sure to consider the fees. Although many colleges charge a convenience fee when you pay your tuition with a credit card, some do not. If your card falls into the latter category, consider yourself lucky and use the card that earns the most rewards on everyday spending.

Or, use those payments to reach the spending requirement to receive a variety of welcome bonuses.

Deposit money into your bank account

If you’re looking to switch banks or take advantage of a checking account’s welcome bonus, you can maximize this move by funding your bank account with a credit card.

That’s right — when you open a bank account, you’ll see several deposit options. Most people will use a debit card, but some banks allow you to use a credit card.

I once did this when I funded a new checking account and was able to charge $500 to my account. Pursue unlimited freedom. I won $7.50 worth of cash but because I also had Chase Sapphire Preferred CardI can convert it to 750 Final bonus point. It’s not a huge amount of money, but Ultimate Rewards points are extremely valuable and every bit counts.

Keep in mind that some banks will charge a cash advance fee if you use a credit card to fund your checking account. The way you can avoid this is to find out what your cash advance limit is. Then try using the card to fund your account with a higher amount. If the transaction is declined, you will know that it is being coded as a cash advance.

Girl Scout Cookies

It’s pretty much the law that when a 10-year-old shows up in your office building to spark your Tagalong addiction, you have to buy a minimum of 10 boxes. Additionally, you can purchase Girl Scout Cookies online with a credit card.

Today, every Girl Scout has one specified web template where you can pay for cookies while still giving credit for the sale. It’s very likely that Girl Scouts will continue to grow their online platform in the next sales cycle, which would be great news.

Dog walking service

If you’re working from home while caring for your own Points Pup, you may find yourself using the dog walker more often than before. The good news is that if you use a service like Rover.com, you can pay your dog walker with a credit card. You can even earn bonus points or cash back on this expense.

In the past, Amex offers did deals on Rover, each offering $10 for $50 spent, which is quite significant. Rover even has a referral program, allowing you to earn a $20 credit for referring friends to the site.

Bottom line

All of the costs mentioned above are significant and can really help you increase your rewards balance for your next dream vacation. You’ll want to factor in the additional fees associated with paying some of these costs with a credit card and make sure the rewards you earn are worth it.

As with any purchase, remember to pay your card in full each month to avoid interest charges.

See Bilt Mastercard rates and fees This.

See Bilt Mastercard rewards and benefits This.

4 hours agoLast Updated: November 17, 2024

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