Chase Wants Me To Pay My Taxes With My Credit Card
Earlier today, I had the pleasure of receiving an email from my very favorite credit card company, Chase. In it, they expounded the virtues of paying my taxes via my Chase credit card. How convenient! Their reasons include:
- Earn rewards for every tax dollar paid (wow, 1% cash back!)
- Spread your tax payment over time and control your cash flow (And at only 13% interest!!!)
Suck On It, Chase
Let me see if I’ve got this straight…Chase wants me to pay my taxes with my card, paying a “low” 2.49% fee for the “privilege” of paying my taxes via credit? Is there any other circumstance where you’d even consider paying 2.49% extra just for the privilege of using a card? Of course not. You’d cut up the card and switch to cash-only. Why, then, would you voluntarily take a 2.49% tax hike to avoid filling out a check? I can’t think of a reason. Even worse, they have the nerve to tout that you will earn 1% in rewards in the same paragraph where they disclose the 2.49% fee. Do people fall for this crap? They must.
How To Triple Your Taxes In One Easy Step!
Ah, but that’s not all! For only 13%, you’ll have the privilege of paying this year’s taxes well into 2013! Who could possibly turn down an opportunity to relive tax day every month for the next 4 years? By “manage your cash flow” I think what they really mean is “let your cash flow become our cash flow.”
Seriously, this is a new low in corporate irresponsibility. During the middle of a credit crisis is not the time to be encouraging more reckless consumer behavior. If you made enough money to owe taxes but didn’t save enough of it to actually pay them, you are in way over your head. Taking on more debt is the last thing you should be doing and shame on Chase for trying to make a quick buck at your expense. I dug up the above photo and I think applies equally well in this situation. Do you like it?