Top 3 credit cards to pay the taxes

Top 3 credit cards to pay the taxes -

Update: April 20, 2016

The deadline for filing your taxes is fast approaching and for those who owe IRS money, this can be a very stressful time. To make matters worse, anxiety levels may increase if you do not think you have the money to pay your tax bill on time. For most, the establishment of a payment plan with the IRS is a good option because you will be able to spread your payments to the government and avoid paying late fees. For some, however, pay your tax bill at once with a credit card could be the way to go, even with the 1.87% credit card processing fee.

When consider paying your tax bill with a credit card

If you know that you will not be able to pay your taxes in full to the IRS within 120 days an intro APR credit card 0% might be a better choice, as long as you can repay it within 12 to 18 months. In fact, the IRS charges a one-time $ 120 fee to set up a standard payment plan if you want directly from your paycheck each month or a one-time fee of $ 52 if you pay directly from your bank account. While the costs are relatively reasonable, it does not include late fees, you can suffer if you do not pay your debt each month. On the other hand, with a credit card introductory APR of 0%, you pay no interest charges as long as you pay your bill in full before the kicks of interest rates. This is a viable option for many people, even with the small credit card processing fee, you must pay the IRS.

Best credit cards to pay taxes

With so many credit cards available, you may find difficult to decide which is the best card to pay your taxes. We have detailed the top three cards to help you save money you pay your balance and maybe even earn rewards in the process.

Best Intro APR: Citi Simplicity

There are many reasons why Citi Simplicity (a NextAdvisor seller) is one of our top credit cards. First, it comes with a generous 18 months 0% Intro APR This will allow you to pay your IRS bill without paying any interest as long as you do it within 18 months. To top it off, there are no late fees, annual rates of cost or penalty - what you see is what you get

.

Top awards: Capital One Venture Rewards Card

Although the Capital One Venture Rewards Card does not offer a 0% introductory April as the detailed map above, you may find that generous rewards and IRS offset the burden intro bonus points credit card and installment plan fee, depending on how much your total balance. This card gives you 2% on all purchases at redemption for travel expenses, equivalent to 2.0% cash back. Not only that, but it also gives you 40,000 bonus miles - a $ 400 value - once you spend $ 3,000 in the first three months of opening your account. The Capital One Venture Rewards Card has an annual fee of $ 89, but this fee is waived for the first year.

best combination of Intro APR and rewards: Chase Freedom

Chase Freedom combines an introductory APR of 0% with cash back rewards and a generous bonus intro. To start, you will have 15 month 0% Intro APR, which will give you some time to pay off your taxes without incurring interest charges. To sweeten the deal, you get a $ 150 bonus after you spend $ 500 on purchases within the first 3 months, 1% on your IRS bill and pay no annual fee. Assuming you pay your tax debt in full before the end of the 0% Intro APR deal, you will not pay interest and you could even make a little money back, even with the credit card processing fee 1.87% with the IRS.

Although the IRS pay with a credit card may not be ideal, it may be helpful for some people in some situations. This is especially true for those who are afraid that they will be late making their payments each month. Ask about our view of credit cards to learn more about the above detailed maps and see other options for paying your taxes. If you have not yet filed, it is not too late. Discover the best online tax preparation services to save time and money.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and has not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but the terms and conditions of card can change at any time. This site may be compensated by the sending credit card affiliate program.