All posts by Leonard Kreicas

Jo-Ann Discount Card

Save 10% on purchases with the Jo-Ann Discount Card

New Jo-Ann store cardThe Jo-Ann VIP Discount Card, Jo-Ann Student Discount Card, and Jo-Ann Non-Profit Discount Card replace the Jo-Ann MasterCard, which has been discontinued and is no longer valid.

The various Jo-Ann discount cards are not credit or debt cards, but entitles holders 10% off on almost every purchase made at the store or online at joann.com.

There are three versions of the discount cards:

  • One is the Jo-Ann VIP Discount Card for professionals in the crafts businesses such as re-sellers, members of a professional sewing or crafting organizations, interior design professionals, etc.
  • Another is the Jo-Ann Student Discount Card for students 14 or older at time of enrollment and currently enrolled in high school (Grades 9-12) or a higher learning institution, such as a college or university.
  • The last is the Jo-Ann Non-Profit Discount Card for charitable non-profit organizations with a verifiable 501(c)(3)  tax status such as
    • Churches
    • Schools
    • 4-H Clubs
    • Boys & Girls Clubs of America
    • Boy Scouts
    • Girl Scouts
    • Project Linus
    • Salvation Army
    • YMCA
    • YWCA

To activate the JoAnn discount cards necessary supporting documentation has to be brought to a store manager for verification:

  • Re-sellers: Vendor license, valid tax exemption certificate (if applicable) and a state-issued photo ID
  • Sewing/Crafting Organizations: Proof of membership and a state-issued photo ID
  • Interior Design Professional: Current member of ASID or IIDA or proof of interior design professional certification, valid tax exemption certificate (if applicable) and state-issued photo ID
  • Non-Profit Organizations: IRS-issued proof of 501(c)(3) status and a state-issued photo ID
  • Students: Identification card for the current school year with the college, school or school district clearly identified; or college acceptance letter signifying enrollment into a program; or report card from the current school year if your school does not issue identification cards.

There are no annual fees for the cards and they entitle holders to news of special events and sales.

Win $10,000 Sweepstakes

You could win $10,000 by depositing your IRS refund in a Visa prepaid card.

Visa Prepaid CardThere are also 60 weekly winners of $25 each until April 16, 2012.

This is a limited-time offer good only until April 16, 2012: so the clock is ticking and get your card before time runs out to win your $10,000 prize.

People can also enter the contest, without having a Visa Prepaid Card, by manually sending entry forms through the mail.

To automatically enroll for your opportunity to win $10,000, get an eligible prepaid Visa card and make a purchase or payment with it from January 15th to April 30th, 2012.

Use your card online, over the phone or in stores where Visa is accepted.

The more you use your card, the more entries you’ll receive and the better your chances of getting that $10,000.

Details of winning the $10,000 are here.

Disney Rewards Visa Card

New Disney Rewards Visa card members receive a generous $50 Disney Gift Card after first use of the credit card.

Mickey Mouse credit cardThe rewards keep on coming as each purchase entitles you 1% in reward dollars, with no limit to the number of reward dollars you can accumulate.

With no annual fee and 10% off on select merchandise purchases of $50 or more at DisneyStore.com and Disney Store retail locations, you can make your Disney experience very affordable.

The Disney Rewards Visa card even offers a promotional APR of 0% for 6 months anytime you use your Disney Rewards Visa Card to book select Walt Disney World and Disneyland Resorts vacation packages, all Disney Cruise Line packages and Adventures by Disney packages, and Aulani, A Disney Resort & Spa, Ko Olina, Hawai’i vacation packages.

Disney Rewards Visa card holders receive both 10% off purchases of select items at Disney retail locations or online and 1% rewards to boot, which adds up to a great deal for Disney fans.

In addition to the 10% Disney discount, when you use your Disney Visa card you get special deals at the following retailers:

In addition the Disney Rewards Visa card provides its members free fraud monitoring systems, zero liability on unauthorized use, extended warranty protection, and the buy now – pay later feature.

Apply here for your Disney Rewards Visa Card.

Are Credit Card Rewards Taxable?

Pile of cashCitibank has sent out 1099 tax forms for 2011 to people who received over 24,000 points as an incentive for opening a checking or savings account.

Usually prizes, awards and the such, worth over $600, are reported to the IRS as miscellaneous income.

While the 1099’s were NOT sent out for reward points on credit cards, the recent mailings suggest cardholders might have to pay taxes on all their points sometime in the future, if and when the IRS changes its mind.

Citicard regards any promotion to open an account as a taxable “gift.”

A spokesperson said, “When a customer receives a gift for opening a bank account — whether cash, a toaster or airline miles — the value of that gift is generally treated as income and subject to reporting.”

The IRS currently views reward points on credit cards as a form of “rebate,” which is not considered income, but reduces the price the customer pays for his or her purchase.

As an example, when a customer opens a new Macy’s credit card, he or she gets up to $100 off their first bill on purchases made within 48 hours of opening the new account – the credit reduces the cost their initial statement.

However if Chase credits a new account holder 25,000 points, without even making a purchase, wouldn’t that be considered a gift since nothing was bought?

The IRS treats both promotions the same now as not being taxable.

Stay tuned folks, because the tax situation right now favors cardholders, but Congress and the IRS might want to plug this tax “loophole” in the future.