I have a ~$25k IRS tax payment coming up and am considering opening a new card to hit a strong SUB, even factoring in the ~1.8% processing fee. I’m okay splitting payments if that meaningfully increases value.
My FICO is 810 and income is $370k, and I do a fair bit of traveling.
A lot of my basic cards (such as Delta Skymiles or Chase Freedom) were downgraded from previous high annual fee cards to keep the age alive.
What would you suggest? Thanks!
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Current cards:
AMEX Consumer Platinum: No Preset Spending Limit – 2023
Delta Skymiles Blue card – 2015 – $6k
AMEX Green Corporate card – 2022 – $25k
Federal Credit Union Card – 2021 – $15k
Wells Fargo Autograph Visa – 2026 – $20k
Chase Ink Business Cash – $7k – 2020
Chase Freedom Unlimited – $20k – 2020
Chase Freedom – $5k – 2019
Chase Freedom Flex – $17k – 2020
Bank of America Cash Rewards Visa Signature – $14k – 2012
Bilt Blue Card – $20k – 2021
Apple Mastercard – $8k – 2019
REI Capital One card – $15k – 2024
FICO is 810, Income is $370k
Oldest Account Age: 14 years 8 months
Average Account Age: 7 years, 1 months
Chase 5/24 status: 2/24
Average monthly spend and categories:
Dining: $2,700
Shopping: $1700
Gas: $300
Travel: $1000
Other: $1000
Open to Business Cards: Yes
What's the purpose of your next card? Earning Points or Cashback
Do you have any cards you've been looking at? Chase Sapphire or Venture X
Are you OK with category spending or do you want a general spending card? Either is fine
What is the best card to open for paying off $25k of taxes with the IRS?
byu/SeparateFly inCreditCards
Posted by SeparateFly
3 Comments
I am in same boat, have about 15K of tax payments and ended up opening chase ink business preferred after trying for AMEX gold and getting low SUB offer of 60K.
Either Amex Business Plat or Venture X Business
You didn’t list when you got the cards so no way to tell your 5/24 status with chase… instead it seems you are worried about your credit limit which suggests you might be close…
You have already dipped into biz cards which means you have a side hustle… so I would shoot for the biggest amex biz bonus you can get (200-300 for gold-plat). Your first bonus is usually larger than later NLL offers.
Unlike personal amex cards, you don’t have to do them in order, they don’t affect your 5/24, and the sooner you get one the sooner you can start watching for the same card in the future as NLL. Also, some give 2x for big charges (tax).
All of this assumes you are chasing points… if not then just pay from checking (2% cashback with 2% fee is a wash).