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We get it—not everyone is interested in flashy international trips in first class.

While most of us don’t like paying taxes, the silver lining is that paying taxes through credit cards that earn rewards—in the form of cash back, points or miles—can be profitable compared to paying taxes from bank accounts using checks or electronic payments. Despite the processing fees associated with paying taxes with credit cards, the value of the rewards earned often exceeds the fees.

Tax Payment Basics

Before getting into the details of earning points and miles by paying taxes with credit cards, let’s review some basics about paying taxes, specifically individual (personal), federal income taxes.

All information about the Hilton Honors American Express Aspire Card, American Express® Green Card, Amex EveryDay® Card and Amex EveryDay® Preferred Credit Card has been collected independently by MileValue. The card details on this page have not been reviewed or provided by the card issuer.

All information about the Southwest Rapid Rewards® Premier Credit Card has been collected independently by MileValue.

For a long time, most purchases were made with either cash or checks. Credit cards were only used for larger purchases that needed to be paid off over months or years. However, in recent times, more and more people have begun using credit cards for all of their purchases, big or small. On the other hand, some people use their debit cards for everything.

Premium travel reward credit cards offer a host of perks, from complimentary lounge access to hotel benefits.

One type of perk they offer is an annual travel statement credit. This applies to purchases that code as travel, although card issuers are free to define what counts as travel.

Earning points and miles can seem like an uphill struggle.

The world of points and miles can be massively rewarding. With the right strategy, you can land yourself free hotel stays, mile-funded flights, cabin upgrades, and much more.

As hobbies go, earning points and miles is one of the most lucrative ones. However, it’s not without complications. Whether you’re an experienced points and miles collector or just starting out, it’s only a matter of time before rewards chasing gets the better of you.

Let’s take a look at the top 12 mistakes to avoid when collecting points and miles.

1.

There are two major parts of planning your credit card strategy. One part, and the primary focus that many people take, is focusing on sign up bonuses that fit your immediate needs. This is a very important part of credit card strategizing, but it’s not the only thing to consider.

In addition to sign up bonuses, it’s important to build a long term strategy with the cards you select. There are lot of things to consider when deciding to keep a credit card long term.

You might be wondering why do you need business credit cards? Or maybe you think you can’t qualify for one because you don’t own what most people would perceive as business? There are a lot of misconceptions about what qualifies as a business, who is eligible and how to apply for these cards.

However, business cards often come with some of the most attractive welcome offers and have the most generous earning structure. They can prove to be extremely rewarding for anyone who is willing to learn and understand the rules.

The Chase Sapphire Preferred® Card and the Capital One Venture Credit Card both have made a few waves in the ocean of rewards credit cards recently. Both earn flexible points, have comparable annual fees and charge no foreign transaction fees.

However, are these two cards really that similar? Let’s go over their differences and similarities to help you decide which choice suits your needs best.

Chase Sapphire Preferred® CardCapital One Venture Credit Card5X points on travel booked through the Chase Travel℠3X Ultimate Rewards points on restaurants, streaming services, and online groceries (excluding Target, Walmart, and wholesale clubs).