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Paying tax, utility, and insurance bills with Canadian Tire credit cards
October 8, 2021
2:52 pm
COIN
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savemoresaveoften said

words are some get $150, some as high as $250, by invitation only.  

Ok, so it is by invitation only (I wasn't sure). As high as $250, wow!!!!!!

October 13, 2022
10:44 am
CanSaver
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When you pay your taxes, or any other bill via the Canadian Tire credit card, it is treated just like a purchase (and specifically NOT a cash advance)? I wouldn't want to be paying cash advance fees just to get some Canadian Tire money!

If I understand correctly, using this service effectively allows me to pay bills that I normally can't via CC. It won't cost me anything (if I pay my CC in full by the due date), payment of my bills put on the card effectively delays me paying out cash for them to my CC due date, and I'll get a percentage Canadian Tire cash-back.

Do I have that right?

October 13, 2022
10:51 am
BillieBob
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CanSaver said
… If I understand correctly, using this service effectively allows me to pay bills that I normally can't via CC. It won't cost me anything (if I pay my CC in full by the due date), payment of my bills put on the card effectively delays me paying out cash for them to my CC due date, and I'll get a percentage Canadian Tire cash-back.

Do I have that right?  

That is correct. I pay my property taxes for properties located in two different municipalities, and all of my utilities bills this way. There are no additional fees plus I earn a bit of CT money.

October 13, 2022
6:51 pm
savemoresaveoften
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CanSaver said
When you pay your taxes, or any other bill via the Canadian Tire credit card, it is treated just like a purchase (and specifically NOT a cash advance)? I wouldn't want to be paying cash advance fees just to get some Canadian Tire money!

If I understand correctly, using this service effectively allows me to pay bills that I normally can't via CC. It won't cost me anything (if I pay my CC in full by the due date), payment of my bills put on the card effectively delays me paying out cash for them to my CC due date, and I'll get a percentage Canadian Tire cash-back.

Do I have that right?  

All u said is correct, but keep in mind of the following:

Its been reported on forum that CT does it manually, thus check to make sure whats being sent to the payee is indeed the right amount.
Also since its done manually, there are reports of post dated transactions being missed, results in penalty interest charge which of course CT wont reimburse you for. Personally I only do spot transactions.
The first time you set up the payee, test it with a $1 transaction only. Its not the easiest process to try to retrieve payment sent to the wrong account if its your fault to provide wrong info.

October 14, 2022
1:01 am
smayer97
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I've been doing it for years, paying 6 utility bills, 2 property taxes, insurance premiums, etc... NEVER one missed or incorrect... so far!

BTW, not sure how manual this can be... they way it works is that they process the payment out of a back-end bank account so that it appears to the recipient like it is a bank payment... the recipient does not see or recognize it as a credit card payment. I'm sure the volume would be such to make manual processing very impractical.

October 14, 2022
4:16 am
savemoresaveoften
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smayer97 said
I've been doing it for years, paying 6 utility bills, 2 property taxes, insurance premiums, etc... NEVER one missed or incorrect... so far!

BTW, not sure how manual this can be... they way it works is that they process the payment out of a back-end bank account so that it appears to the recipient like it is a bank payment... the recipient does not see or recognize it as a credit card payment. I'm sure the volume would be such to make manual processing very impractical.  

Yes the process is basically what you described. And based on their ‘tech’ capability, I can easily believe it has to be done somewhat manually as oppose to 100% automated. It’s essentially their high yield loan business, trying to capture potential 21% interest charge for late payment vs paying away up to 1% CT money.

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