Credit Cards

30k property tax, how to use credit

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  • May 27th, 2019 1:20 pm
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[OP]
Deal Addict
Feb 26, 2006
2381 posts
391 upvotes
Ottawa

30k property tax, how to use credit

Hi guys, I was chatting with a friend about points and cards. He mentioned he pays easy 30k+ year in property taxes in Ottawa. I couldn't think of a way for him to benefit significantly by using a credit card.

He has all 3 cards, visa Amex and mc. (won't churn)
Doesn't need to pay to earn points, like me he gets to earn a lot via work purchases. So wouldn't pay 2% to effectively buy points.

So it was a challenging question I couldn't think of an answer to. So figured I'd put it out to you guys.
16 replies
Deal Addict
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Mar 23, 2011
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Only if he has like 10 properties is he paying that much in property tax.
Alex
Member
Aug 5, 2018
346 posts
364 upvotes
payTM + mastercard (such as Rogers WE)
works for some cities, you need to first get payTM and check the payee list.
1.75% CB


Canadian Tire Cash advantage
can pay almost any bill, most likely including the propertytax of ottawa.
1% between 3k to 24k, 1.5% above 24k
(per year)
[OP]
Deal Addict
Feb 26, 2006
2381 posts
391 upvotes
Ottawa
xx1what wrote:
May 25th, 2019 9:24 am
payTM + mastercard (such as Rogers WE)
works for some cities, you need to first get payTM and check the payee list.
1.75% CB


Canadian Tire Cash advantage
can pay almost any bill, most likely including the propertytax of ottawa.
1% between 3k to 24k, 1.5% above 24k
(per year)
No cost for using either for that big an amount? I can't remember which paytm or the other one had a max amount you can pay per month without a fee.

Some new homes here are 10-12k property tax a year, I'm sure someone with a store or commercial property pays lots more.
Member
Aug 5, 2018
346 posts
364 upvotes
shylok wrote:
May 25th, 2019 10:40 am
No cost for using either for that big an amount? I can't remember which paytm or the other one had a max amount you can pay per month without a fee.

Some new homes here are 10-12k property tax a year, I'm sure someone with a store or commercial property pays lots more.
No cost for both.

I would say, maybe payTM would have a fraud measure if any payment is above 900: 1 week hold.

But the payment should still go through after a week.

No limit on CT except your credit limit.
You can pre-pay your CT card, and pay your CL, which takes 3 business days to clear (along with your CL) and then pay your CL again.
Deal Addict
Oct 7, 2007
4596 posts
1481 upvotes
sherman51 wrote:
May 25th, 2019 8:51 am
Only if he has like 10 properties is he paying that much in property tax.
In Vancouver this could easily be for only 3 relatively modest homes.
[OP]
Deal Addict
Feb 26, 2006
2381 posts
391 upvotes
Ottawa
xx1what wrote:
May 25th, 2019 11:01 am
No cost for both.

I would say, maybe payTM would have a fraud measure if any payment is above 900: 1 week hold.

But the payment should still go through after a week.

No limit on CT except your credit limit.
You can pre-pay your CT card, and pay your CL, which takes 3 business days to clear (along with your CL) and then pay your CL again.
This is helpful thank you. Heck now I'm thinking about doing it. 🤣
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May 8, 2009
9834 posts
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  1. I just verified and yes, City of Ottawa Property Taxes can be paid with any MC via PayTM. Highest base earn rate no-AF is Rogers WE, with AF is Collabria MC World (2%) or the Desjardins WE card (tiered)
  2. CTFS will let you pay up to your CL. Once you exceed $3k past card anniversary in spend, you're at 1% (until you hit $24k, then it's 1.5% and resets to 0.25% at card anniversary). CTFS ∆ WE is 1x eCTM flat. CTFS bill pay up to CL
  3. Careful with PayTM. You'll want to build up history before making big payments. This is very important. New PayTM accounts quickly get flagged for large payments (especially with MC). Happened to me on a $1k bill pay with this history. Build up your history with PayTM and teach them what your normal is.
  4. There's a cap on the PayTM pts you'd earn per category, but no cap on your MC rewards (obviously). If you're planning on making a big lump sum payment, break it down into smaller payments that you'll schedule over the course of at least a few days. If each payment is <$900, they'll probably leave you alone. If you have thin history, I'd go with smaller installments to be safe. For the overzealous, you can contact PayTM and send them a copy of your municipal taxes bill ahead of time so at least they know you have a big bill to pay
  5. Can't be bothered with PayTM? Just use CTFS and call it a day
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[OP]
Deal Addict
Feb 26, 2006
2381 posts
391 upvotes
Ottawa
titaniumtux wrote:
May 25th, 2019 1:29 pm
  1. I just verified and yes, City of Ottawa Property Taxes can be paid with any MC via PayTM. Highest base earn rate no-AF is Rogers WE, with AF is Collabria MC World (2%) or the Desjardins WE card (tiered)
  2. CTFS will let you pay up to your CL. Once you exceed $3k past card anniversary in spend, you're at 1% (until you hit $24k, then it's 1.5% and resets to 0.25% at card anniversary). CTFS ∆ WE is 1x eCTM flat. CTFS bill pay up to CL
  3. Careful with PayTM. You'll want to build up history before making big payments. This is very important. New PayTM accounts quickly get flagged for large payments (especially with MC). Happened to me on a $1k bill pay with this history. Build up your history with PayTM and teach them what your normal is.
  4. There's a cap on the PayTM pts you'd earn per category, but no cap on your MC rewards (obviously). If you're planning on making a big lump sum payment, break it down into smaller payments that you'll schedule over the course of at least a few days. If each payment is <$900, they'll probably leave you alone. If you have thin history, I'd go with smaller installments to be safe. For the overzealous, you can contact PayTM and send them a copy of your municipal taxes bill ahead of time so at least they know you have a big bill to pay
  5. Can't be bothered with PayTM? Just use CTFS and call it a day
I can't even log back into paytm.. Has been a year or so. Reset doesn't work.. New Signup says can't use same phone number.. Gongshow already. Emailed support.

For ctfs, which of their cards is the best for this, and which is like to provide a larger limit. I looked and wasn't sure. Between the 3.

Thanks for your detailed reply I see you're in Ottawa based on the other thread.

Is there anyway to setup automated payments via paytm or ctfs. Most of my hydro accounts are auto withdrawal per month as are lots of my other Enbridge etc etc bills for various properties. I don't want to really manually do this. Lol.
Member
Aug 5, 2018
346 posts
364 upvotes
shylok wrote:
May 25th, 2019 1:36 pm
I can't even log back into paytm.. Has been a year or so. Reset doesn't work.. New Signup says can't use same phone number.. Gongshow already. Emailed support.

For ctfs, which of their cards is the best for this, and which is like to provide a larger limit. I looked and wasn't sure. Between the 3.

Thanks for your detailed reply I see you're in Ottawa based on the other thread.

Is there anyway to setup automated payments via paytm or ctfs. Most of my hydro accounts are auto withdrawal per month as are lots of my other Enbridge etc etc bills for various properties. I don't want to really manually do this. Lol.
payTM does allow automatic payments.

For CT, clearly canadian tire cash advantage is the card to go for getting rewards.
CT triangle is for other benefits, with a lower return on bill payments. You'd have to look into the perks and decide whether they're right for you. (They are not for me.)
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May 8, 2009
9834 posts
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shylok wrote:
May 25th, 2019 1:36 pm
I can't even log back into paytm.. Has been a year or so. Reset doesn't work.. New Signup says can't use same phone number.. Gongshow already. Emailed support.

For ctfs, which of their cards is the best for this, and which is like to provide a larger limit. I looked and wasn't sure. Between the 3.

Thanks for your detailed reply I see you're in Ottawa based on the other thread.

Is there anyway to setup automated payments via paytm or ctfs. Most of my hydro accounts are auto withdrawal per month as are lots of my other Enbridge etc etc bills for various properties. I don't want to really manually do this. Lol.
for paytm, you can schedule recurring, but will likely charge your MC a few days prior. ctfs also allows recurring bill pay. only issue is that you would have to update it each time the amount changes. that's why i stick to paper bills. initially had enbridge on pre-auth to avoid credit deposit, but once exceeded 6 months history that was no longer needed.

+1 to cash advantage. it's a hidden gem that might not stay around.
eBay profile| Motorola phone. Linux on 2xcomputers. Brew beer & wine @home.
DUCA thread | Simplii Account Linking | Make CCTS Claim | Max on Koodo Referrals Thread
[OP]
Deal Addict
Feb 26, 2006
2381 posts
391 upvotes
Ottawa
titaniumtux wrote:
May 25th, 2019 1:57 pm
for paytm, you can schedule recurring, but will likely charge your MC a few days prior. ctfs also allows recurring bill pay. only issue is that you would have to update it each time the amount changes. that's why i stick to paper bills. initially had enbridge on pre-auth to avoid credit deposit, but once exceeded 6 months history that was no longer needed.

+1 to cash advantage. it's a hidden gem that might not stay around.
Can you redeem cash advantage for not cash? Or gc or points or something. Redeemed for cashback cheque leaves me paying tax on it. Or statement credit goes back to my company lol. Worse.
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May 8, 2009
9834 posts
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shylok wrote:
May 25th, 2019 2:03 pm
Can you redeem cash advantage for not cash? Or gc or points or something. Redeemed for cashback cheque leaves me paying tax on it. Or statement credit goes back to my company lol. Worse.
it's a personal card, ctfs doesn't issue business cc's afaik. cashback auto redeemed as statement credit on card anniversary. can request it sooner via chq or statement credit. triangle WE is eCTM. gas card is 10cents off per litre when you maintain min $2k monthly spend on the card.
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DUCA thread | Simplii Account Linking | Make CCTS Claim | Max on Koodo Referrals Thread
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For person with the tax bill like that $500 of credit card points won't make their life any better. It will probably make their life worse because they will have to manage the payments to these credit cards when they are due instead of just letting them come out of their bank accounts.

It's a diminishing return. A small sum like $500 won't mean anything. It will be more of a hassle than it is worth. I would do nothing if I were that person.
[OP]
Deal Addict
Feb 26, 2006
2381 posts
391 upvotes
Ottawa
batcave wrote:
May 25th, 2019 2:09 pm
For person with the tax bill like that $500 of credit card points won't make their life any better. It will probably make their life worse because they will have to manage the payments to these credit cards when they are due instead of just letting them come out of their bank accounts.

It's a diminishing return. A small sum like $500 won't mean anything. It will be more of a hassle than it is worth. I would do nothing if I were that person.
Yea for me it'd cost me more in my accounting fees to reconcile the additional card and payments than it would benefit me. If there was a clean and easy way to do it maybe..

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