For those that are paying thousands of dollars in income tax, how would you like to get 2.51% of that back? Lets say you gotta pay $10K in taxes for last year income. If you get 2.51% of $10K back, that is $251 free money back to you. Too good to be true?
First, make sure you have less than 3 Citi Cards so you can apply for the Citi CashReturns Card. The CashReturns card gives you 5% cash back on everything for 3 months. You heard me right, yes 5% cash back on EVERYTHING for the first 3 months with the Citi CashReturns Card. You wondering, I thought you only get 2.51% cash back?
There is a new site Official Payments that allows you to pay your taxes with credit cards. The site charges 2.49% processing fee, therefore you will get 2.51% back from the 5%. This is legit.
From the website:
Official Payments provides electronic payment services to the United States Internal Revenue Service, 25 States, and more than 2,500 local collecting organizations nationwide. The payment pages for each are linked on this website, and grouped into one of the three categories shown below. Select “Pay Now” to begin the process. You can also search for our payment partners by zip code.
You might worry that your approved credit limit is not big enough. It’s simple to raise your credit limit by 1) Ask them to increase your credit limit once approved 2) Transfer your credit limit to your new Citi CashReturns Card from other Citi cards.
There is NO CAPS or LIMITS for cash back earning. Remember, you have 3 months for 5% cash back on Everything. Time the 3 months window right so that you can make all your big purchases during this 3 months. Best time to get this card would be paying your taxes, upcoming wedding, renovating a house, paying your tuition bills, etc etc. Many readers have told me they got over $1000 back with their holidays spending last year.
After signing up for the Citi CashReturns Card, the 3 months officially starts during your application and not the day you got your card in the mail. I would spend everything on this card, whether it’s a getting a coffee at Starbucks or filling up my gas tank. The best part is getting cash back and not Thank You points. Checks will be sent automatically upon earning $50.
*If you are converting to this Citi CashReturns from another Citi card, you will not get the 5% Cash Back Promotion.*
**I would even buy gift cards for places you know you will shop. Hence guarantee 5% cash back for the future. Examples: Walmart, gas stations, groceries stores, etc**
***Another site similar to official payment is Pay1040 ***
Quick Summary Citi CashReturnsSM Card:
- Earn 5% cash back on ALL purchases for 3 months
- Earn 1% cash back on ALL purchases and eligible cash advances after the first 3 months
- NO LIMIT and NO EXPIRATION on the amount of cash back you can earn
- Checks will be sent automatically every time you earn $50 – no calling necessary
- 0% APR* on balance transfers for 12 months
- No Annual Fee