Chexy | General financial discussion | Discussion forum

Chexy is a service that allows one to pay billers that don't accept credit cards with a credit card. That way, one can earn credit card rewards on payments to such billers, like CRA!

The catch is the fee:

1.75% Canadian Visa & Amex
2.50% International Credit Cards

I don't think the Bank of Montreal Eclipse Visa cards can pay a bill if the biller refuses charge the bill to a credit card.

Tangerine Mastercards can reward recurring bill payments charged to one of their credit cards. But, the biller has to charge the bill to the credit card and, consequently, pay interchange and other card processing fees.

Only credit cards I've seen that can pay a biller that doesn't accept credit cards are the Canadian Tire Triangle Mastercards.

If you use a Scotia Momentum Visa Elite cashback card, you earn 4 percent cash back on recurring charges, so you net 2.25 percent ( up to 25K in charges per year ). Another good cashback card for Chexy is TD Cashback Visa Infinite which earns 3 percent on recurring charges, up to 15K per year.

You can use this for payments you can't just put on your credit card eg. rent, CRA taxes, municipal taxes, condo fees, utility bills.

As an aside I used to use a Tangerine card for recurring purchases and I found quite a few recurring fees were not classified by Tangerine as recurring, so I got 0.5 percent cashback instead of 2 percent.