Business
Is paying with Chexy worth the fee?
Tax instalments, GST / QST or a supplier: work out the real cost per point of business payments put on a card through Chexy, and compare it with the point's value and with buying points directly.
Yes: $198.44 net value
- Chexy fee (1.75%)
- $437.50
- Charged to card
- $25,437.50
- Points earned
- 31,797
- Cost per point
- 1.38 ¢
- Point value (Milesopedia)
- 2.00 ¢
- Points value
- $635.94
- Buying these points directly
- $569.17 – $1,192.39
- Pay the card balance in full: interest quickly wipes out the gain.
- CRA and Revenu Québec go by the date the payment is received, not the day you send it through Chexy.
- The GST / QST treatment of Chexy fees has not been publicly confirmed.