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.
Verdict
Yes: $198 net value
- Points earned
- 31,797
- Cost per point
- 1.38 ¢
- Point value (Milesopedia)
- 2.00 ¢
What you pay
- Chexy fee (1.75%)
- $437.50
- Charged to card
- $25,437.50
What you get
- Points value
- $636
- Buying these points directly
- $569 – $1,192
Good to know
- Pay the card balance in full: interest quickly wipes out the gain.
- The CRA goes by the date the payment is received, not the day you send it through Chexy.
- The sales tax treatment (GST, HST, QST) of Chexy fees has not been publicly confirmed.