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"Tis the time for giving" as the end of the year draws near. Making charitable contributions by the end of the year ensures that one can be generous as well as earn some well deserved tax credit for it. Credit cards are becoming increasingly the favorite and the simplest method to give to charities.
The Discover card is one of many such cards that allows its cardholders the opportunity to be generous and to be thrifty at the same time. In tough times, it is difficult to open purse strings to others, but if you have been making your everyday purchases with your Discover card, it is easier to give your cash back bonuses to those who need it more without affecting your own budgets.
Make Your Contributions Count
According to experts if you make a charitable contribution via checks, those donations can be deducted in the year they were made. When it comes to credit cards, contributions are valid the year the charge was made. If you are going to wait till New Year, giving to charity via your credit card seems like an easier way to do it.
Today, all or most charitable agencies accept credit card donations. While it makes it easier for cardholders to pay via credit card, some credit card companies charge processing fees for the transactions. Although this means that credit card companies are making some profit off of charitable contributions, it also means things are that much more convenient for the end users, who use their credit cards on a daily basis.
Cash Back For Charity
While most credit card companies will offer rewards programs in miles or cash backs, only a few can match up with Discover cards' rewards program. It is unique in the sense that it changes every month, giving you an opportunity to earn cash back bonuses on a variety of categories like restaurants, retail, travel, gas, groceries, and more.
What makes this program even more interesting is the amount of flexibility it allows for credit cardholders to redeem their rewards – the cash back bonuses. As a cardholder you can transfer all the money to your bank accounts, use it to pay off your credit accounts, effectively double the reward by choosing gift certificates from brand partners, choose a Discover Gift card for a loved one or make a charitable contribution to your favorite cause.
Although rewards or points are typically not considered to be tax deductible, you can speak to a Discover customer service executive to find out precisely the tax deductible status of your cash back bonuses.
Over 1.5 Million Charities
The Discover card website has a comprehensive list of over 1.5 million charities and growing. Through the website you can choose to make your contribution a onetime payment or a recurring gift and you can also choose how to give it – anonymously or in the memory of a loved one or on your own or spouse's name. For every dollar that you give to charity through Discover, you earn even more rewards. Discover your benevolent and charitable side with your Discover card.