Download MaxRewards: maxrewards.app.link/spencer (Code: SPENCER) 💲 To see why I plan on adding these specific annual fee credit cards to my setup, watch this video next: ruclips.net/video/lYPKbSX9A9M/видео.html 🎥 How much do you expect to pay in annual fees in the next year or two? 👇🏼
I'm at $1978 in annual fees already after a year and a half into the game. I just took my family on a 5 week trip to Europe and paid almost exclusively with points. It sounds insane, but I spent 350k Amex points, 320k Hyatt points and 300k Hilton points and had round trip business class flights to Europe which would have been $25k in peak summer. All the hotels combined were $20k had I paid cash. I got Globalist last year through work travel so all 5 weeks was in a suite. I easily saved $50k on the vacation by using points. I didn't over spend at all. Just hit the SUBs on 8 cards in 18 months. I did have some work spend that helped, but I still have about 1 million points left over in Hyatt, Cap One, United and AMEX about evenly.
Wow man, that is a big time redemption! Congrats on that!! The experience you were able to give your family must have been so amazing. That's the whole point of the credit card game in my opinion, so I'm happy to hear y'all got to have that experience. Keep up the great work!!
When paying that much in annual fees, you definitely have to make sure that money spent is generating value, which is something that you're definitely intentional about!
That's key!! I expect my annual fees to rise and lower depending on the season of life I'm in, but in this next season I'll be traveling a lot and these high AF travel cards are gonna make me pay for it!
Those annual fees add up fast! Great video Spencer on showing how you manage all of your annual fees, and how you get value from them. You get the best value from those high AF cards, but if not used correctly, they can start taking value from you!
They sure do man! I really appreciate you watching btw. I probably should have noted that more of these cards will likely get cancelled over time, but while I'm trying out a bunch of travel cards, the AFs are gonna be high. But hey, I can just make another video down the line I guess! 😆
watching this from 30,000 feet, great video spencer!! definitely inspiring me to make a table of the same for my own records. always appreciate your insight!!
I appreciate your channel. I'm 45 and only just recently entered the credit card game. I have a family of four and channels talking about aspirational travel just don't resonate. I appreciate your down to earth approach especially with your focus on domestic travel.
Amazing video Spencer! I really appreciate how you clarified that even though we get positive value out of some credit cards w/ annual fees, we still pay for it. Some peers of mine act like they don't pay a penny by using these cards despite them being able to use benefits that out weight the AF.
Thank you so much man! I'm glad that point resonated with you. I think it's really easy to justify in our minds that we're getting infinite free value, but that's just not the case.
Really important point here that Credits & other benefits you get on AF Cards aren't "Free" but instead you are paying for those benefits and you just need to make sure they are benefits/credits that you can use organically and don't have to put in a bunch of work for that spending. Love that you have a lot of specific, tangible ways to get value from all of your AF Cards as well. Hilton Gold Status getting you free breakfast at nice hotels can be sooo valuable. The Free Breakfast I got at the Waldorf in Cancun was valued over $115 so paid my annual fee with one meal haha. Great video as always Spencer!
Dude that free breakfast is key for sure! That's wild it saved you that much money in just one meal haha. And I'm glad you resonated with the point about credits not being free. I feel like we don't cover that enough and I don't want people thinking all this value is just infinite with no downside. It all comes at a cost! Thanks for watching man!
Great content. Road map is a great way to see what is actually worth it. It could always change but a plan is better than getting cards willy nilly. That is a lot in AF but the fact you are getting cards that fit your lifestyle shows responsibility.
Thank you so much Woodzy! I really just wanted to show people here that it's really fun to create a roadmap and add all these really cool cards we want in the future, but if you don't take the time to see both sides of it, it could really hurt you in the long run. I'm glad you enjoyed it though man!! Thank you for your support as always!
I currently have $600 in annual fees. Just today I used my VX $300 travel credit for a one night hotel stay and because it's a part of the Cap1 lifestyle collection I also get a $50 hotel credit. Not too shabby in my opinion. Fun video!
great way to look at the fees too in that you are pre-paying. Like with Gold card...I am going to buy $250 worth of food at restaurants during the year (heck probably in a month) so now I would be prepaying for that to eventually get for free but getting the benefits of the 4x and sign up bonus. Of course gotta love cards that give higher value like the Hilton or Marriott cards with free nights annually
Most people don't realize how much additional value you can get from annual fee cards when used correctly. It is wise to do the math to make sure you are getting positive value. If you can be responsible and take advantage of all the perks, it makes perfect sense to trade in a few thousand dollars in annual fees to gain 2x-3x that in value.
That’s a lot of money but as long as you’re getting positive value and it fits into your lifestyle comfortably then you’re good. Good you’re tracking and scrutinizing your card setup regularly
It sure is man! I think it's really important to audit your annual fees regularly. I should note too that in general I won't always have this many annual fees to pay, but for the next year or two while I'm trying out a lot of travel cards, those AFs are gonna be high. Thanks for watching as always man!
You're the man Ed! I'm glad you enjoyed this one. It's super important to not only plan for the good of our credit cards, but the bad as well. It isn't always sunshine and rainbows, you know?
I think this is the first time I'm commenting on a video of yours, you put out great content Spencer! I totally agree with your statement that you're not getting "free" travel credits, you're just prepaying. Another point I'd add to 14:11 is that factoring the welcome bonus into the ledger for anything beyond year 1 is counterproductive since if you can't justify the card alone without the SUB, then you're just losing that initial value you gained from the SUB and paying it back over several years. So if the card can't justify itself without a SUB, you really shouldn't keep it beyond the necessary 1 year to avoid points clawback.
Thank you so much for commenting Michael! That means a lot. I'm glad you resonated with that point of credits not being free. It's something we can't forget! And I completely agree with your last point. As I mentioned in the vid, I'd definitely recommend downgrading or canceling after a year if you're not getting positive value after that first year. You don't wanna waste all that SUB value by paying for more annual fees for no reason!
Great video! I enjoyed this detailed breakdown of your plans and strategy! I used to think I’d never get a card with an annual fee. Now though I have 7. As long as there’s value to having them I will keep them. So far so good. Keep up the great work!
Thank you so much man! Annual fee credit cards can definitely be really powerful if you understand how to use them correctly. But they aren't a mandatory either... it just depends on your goals!
Off topic, but I like your fan in the back moving slightly, reminds me of the virtual CoffeeZilla backdrop. Also, that’s a handsome amount of annual fees, but you justify them all, so it’s all good ha, and I always like how you project out years into the future, and not just a few months. I’m with you on cancelling the Business ones too, especially that Hyatt Business, people love that card but I’m still not quite sure why.
Haha that's honestly something I didn't even think about but I know exactly what you mean. And you're right about the annual fees for sure! They're quite hefty, but as long as each card is giving me more positive value than they're costing, then I'm happy to prepay for those benefits. As for the Hyatt Business, I think it's good for high spenders, but that's not me at the moment haha.
I should probably do this too..but I kind of don't want to know either lol But I should make sure I don't stack too many annual fees in the same month.
How have you found splitting your spend between so many different ecosystems? I’m looking to run a similar setup, except with the reserve instead of CSP.
Hi spencer ! I am sure that you know about Personal Finance, But I recommended that you have at least 3 to 6 months of that annual fees covered because that way you make sure that if you add more in the future that you will have the money covered! 💰🙌
I appreciate you saying that! That's 100% right though. If you can't afford to pay for the annual fees on your credit cards without flinching, I would recommend to just stick to the no annual fee cards for now. You gotta be financially responsible for sure!
In stan's video he mentioned that you have to get the marriot brilliant sign up bonus prior to product changing the boundless to the ritz card but I dont believe you've highlighted getting the brilliant card. Is it coming after 2025?
Why aren’t you pursuing Ink cards ? I’ve been stacking various inks to my businesses not only for the 0% leverage of 12 months but also for the new 90k bonus they just got updated to
You know, if the 90k offers were out while I was applying for the Boundless I would have really had to think harder about it. Now I can't get them until February, so they're on the backburner. I personally don't like taking advantage of 0% intro APR periods right now as I think it's a slippery slope, but those bonuses would definitely be worth picking up right now! I may be making a video on those cards once those public offers go live.
Apples to oranges. You can't really compare them directly. If you don't use travel portals, the CSP 25% is a useless benefit. And the 10k bonus is used to help justify the high annual fee. You're not really getting anything from it.
Hey there! I'd say that the 25% boost on the CSP is uncapped in the amount of value it can provide (if it fits your redemption habits) while the 10k Cap1 miles are capped to only that many miles. It all depends on how you like to use your points!
I plan on getting the CSP after I am done doing the welcome bonus for the Amex Gold. I want to run a two cc set up for now. Are these two cards a solid combo or should I keep my Amex Gold and get the Freedom Unlimited? Just debating between those two Chase cards.
I'd say that if you're wanting to use your Chase points with travel partners (which is what I'd recommend) then you need the CSP in your setup. You could just get the 3 cards though to build out a solid hybrid trifecta that would cover a lot of your general spending.
I would definitely add the CSP! Its a great match with the gold, especially when amex isn’t accepted. Plus the CSP has better insurance including primary auto CDW.
Not at this time to be honest. If I was mainly focused on a Citi setup I would, but there are a lot of other cards I plan to get in the future and focusing on one ecosystem alone right now isn't exactly my plan. That could change though!
@SpencerJohnsonOfficial yeah I'm holding off on that too tbh just the Citi custom cash for now. I think we both applied at the same time for the Marriott Bonvoy Boundless same time with the 5 nights so that 5k to focus on atm. Wanna get the Ritz card by next yr also but wanna work on business card bonus as well to many cards to get lol
It sounds like you spend way too much time jumping through hoops chasing credits to justify annual fees. Almost like it's an addictive game you can't stop playing rather than wise financial management.
I could see myself getting the Aspire at some point, but if I got it right now, that would add to my 5/24 count and I'm avoiding that with the Business version. Plus the Biz version allows me to try out the Hilton ecosystem for a bit before committing to that $450 annual fee. I know the Aspire is great though!
Crazy to think there are people in the world that would NEVER pay an AF and there are people that would pay an unlimited amount of AF. Got to love banks😂.
Can I suggest you keep your videos within 10-12 minutes? There are a lot of guys covering credit on you tube (and most keep theirs at around 10 minutes...) and it is tough to watch all of that if every video is over 17-18 minutes. When I see the length to be over 12 minutes I just skip quickly and move on. Most of yours recently have been well over 16 minutes. Just my opinion and hopefully you view it as constructive.
Download MaxRewards: maxrewards.app.link/spencer (Code: SPENCER) 💲
To see why I plan on adding these specific annual fee credit cards to my setup, watch this video next: ruclips.net/video/lYPKbSX9A9M/видео.html 🎥
How much do you expect to pay in annual fees in the next year or two? 👇🏼
I'm at $1978 in annual fees already after a year and a half into the game. I just took my family on a 5 week trip to Europe and paid almost exclusively with points. It sounds insane, but I spent 350k Amex points, 320k Hyatt points and 300k Hilton points and had round trip business class flights to Europe which would have been $25k in peak summer. All the hotels combined were $20k had I paid cash. I got Globalist last year through work travel so all 5 weeks was in a suite. I easily saved $50k on the vacation by using points. I didn't over spend at all. Just hit the SUBs on 8 cards in 18 months. I did have some work spend that helped, but I still have about 1 million points left over in Hyatt, Cap One, United and AMEX about evenly.
Wow man, that is a big time redemption! Congrats on that!! The experience you were able to give your family must have been so amazing. That's the whole point of the credit card game in my opinion, so I'm happy to hear y'all got to have that experience. Keep up the great work!!
When paying that much in annual fees, you definitely have to make sure that money spent is generating value, which is something that you're definitely intentional about!
That's key!! I expect my annual fees to rise and lower depending on the season of life I'm in, but in this next season I'll be traveling a lot and these high AF travel cards are gonna make me pay for it!
Those annual fees add up fast! Great video Spencer on showing how you manage all of your annual fees, and how you get value from them. You get the best value from those high AF cards, but if not used correctly, they can start taking value from you!
They sure do man! I really appreciate you watching btw. I probably should have noted that more of these cards will likely get cancelled over time, but while I'm trying out a bunch of travel cards, the AFs are gonna be high. But hey, I can just make another video down the line I guess! 😆
watching this from 30,000 feet, great video spencer!! definitely inspiring me to make a table of the same for my own records. always appreciate your insight!!
Love the explanation of how you are justifying those annual fees. Great video spencer.
Thank you so much man! That means a lot.
Smart to keep track of all that + determine the value you're getting. Thanks for the info + video!
Absolutely right Jimmy! Tracking everything with your finances is really important in my opinion. Thanks for watching as always!
I appreciate your channel. I'm 45 and only just recently entered the credit card game. I have a family of four and channels talking about aspirational travel just don't resonate. I appreciate your down to earth approach especially with your focus on domestic travel.
Thank you! I’m new in credit card journey, and your videos helps me a lot!
Of course! I'm really glad you found it helpful!!
Amazing video Spencer! I really appreciate how you clarified that even though we get positive value out of some credit cards w/ annual fees, we still pay for it. Some peers of mine act like they don't pay a penny by using these cards despite them being able to use benefits that out weight the AF.
Thank you so much man! I'm glad that point resonated with you. I think it's really easy to justify in our minds that we're getting infinite free value, but that's just not the case.
Building out a credit card roadmap definitely helps with what end game you're seeking in the game.. Great vid as always Spencer 💥
I completely agree! Thanks so much Mike!
Really important point here that Credits & other benefits you get on AF Cards aren't "Free" but instead you are paying for those benefits and you just need to make sure they are benefits/credits that you can use organically and don't have to put in a bunch of work for that spending. Love that you have a lot of specific, tangible ways to get value from all of your AF Cards as well. Hilton Gold Status getting you free breakfast at nice hotels can be sooo valuable. The Free Breakfast I got at the Waldorf in Cancun was valued over $115 so paid my annual fee with one meal haha. Great video as always Spencer!
Dude that free breakfast is key for sure! That's wild it saved you that much money in just one meal haha. And I'm glad you resonated with the point about credits not being free. I feel like we don't cover that enough and I don't want people thinking all this value is just infinite with no downside. It all comes at a cost! Thanks for watching man!
Thanks for sharing! Best of luck! Definitely worth the value with specific utility in a category like travel.
Absolutely!@@matthewvillegas6494
Great content. Road map is a great way to see what is actually worth it. It could always change but a plan is better than getting cards willy nilly. That is a lot in AF but the fact you are getting cards that fit your lifestyle shows responsibility.
Thank you so much Woodzy! I really just wanted to show people here that it's really fun to create a roadmap and add all these really cool cards we want in the future, but if you don't take the time to see both sides of it, it could really hurt you in the long run. I'm glad you enjoyed it though man!! Thank you for your support as always!
This is a very very great in depth video of your breakdown, I liked it a lot!
I didn’t expect for all those fees to add up so quickly !
Thank you so much Fanta! It's crazy to see how quickly those fees add up. You just gotta be sure to audit them every once in a while!
I currently have $600 in annual fees. Just today I used my VX $300 travel credit for a one night hotel stay and because it's a part of the Cap1 lifestyle collection I also get a $50 hotel credit. Not too shabby in my opinion. Fun video!
great way to look at the fees too in that you are pre-paying. Like with Gold card...I am going to buy $250 worth of food at restaurants during the year (heck probably in a month) so now I would be prepaying for that to eventually get for free but getting the benefits of the 4x and sign up bonus. Of course gotta love cards that give higher value like the Hilton or Marriott cards with free nights annually
Most people don't realize how much additional value you can get from annual fee cards when used correctly. It is wise to do the math to make sure you are getting positive value. If you can be responsible and take advantage of all the perks, it makes perfect sense to trade in a few thousand dollars in annual fees to gain 2x-3x that in value.
Awesome breakdown! I'll need to add a Numbers sheet like yours if I get any more cards!
Love your content
- Ivan
Well maybe if I build this thing out better you could just copy mine! I appreciate you as always Ivan. Thanks so much!
Will be following along on your Marriott to ritz Carlton journey as I too coincidentally applied for the 5 night Marriott card on 9/1 🤟🏼
That's awesome man! Congrats on the new card! We'll be on the same journey this year it seems.
That’s a lot of money but as long as you’re getting positive value and it fits into your lifestyle comfortably then you’re good. Good you’re tracking and scrutinizing your card setup regularly
It sure is man! I think it's really important to audit your annual fees regularly. I should note too that in general I won't always have this many annual fees to pay, but for the next year or two while I'm trying out a lot of travel cards, those AFs are gonna be high. Thanks for watching as always man!
Great video Spencer. I also love the plan you have for your cards
You're the man Ed! I'm glad you enjoyed this one. It's super important to not only plan for the good of our credit cards, but the bad as well. It isn't always sunshine and rainbows, you know?
I think this is the first time I'm commenting on a video of yours, you put out great content Spencer!
I totally agree with your statement that you're not getting "free" travel credits, you're just prepaying.
Another point I'd add to 14:11 is that factoring the welcome bonus into the ledger for anything beyond year 1 is counterproductive since if you can't justify the card alone without the SUB, then you're just losing that initial value you gained from the SUB and paying it back over several years. So if the card can't justify itself without a SUB, you really shouldn't keep it beyond the necessary 1 year to avoid points clawback.
Thank you so much for commenting Michael! That means a lot. I'm glad you resonated with that point of credits not being free. It's something we can't forget! And I completely agree with your last point. As I mentioned in the vid, I'd definitely recommend downgrading or canceling after a year if you're not getting positive value after that first year. You don't wanna waste all that SUB value by paying for more annual fees for no reason!
Great video! I enjoyed this detailed breakdown of your plans and strategy! I used to think I’d never get a card with an annual fee. Now though I have 7. As long as there’s value to having them I will keep them. So far so good. Keep up the great work!
Thank you so much man! Annual fee credit cards can definitely be really powerful if you understand how to use them correctly. But they aren't a mandatory either... it just depends on your goals!
Loving your recent videos! Very practical and a refreshing perspective compare to most creators.
Dude I really appreciate that. Thanks so much for saying that!
Off topic, but I like your fan in the back moving slightly, reminds me of the virtual CoffeeZilla backdrop.
Also, that’s a handsome amount of annual fees, but you justify them all, so it’s all good ha, and I always like how you project out years into the future, and not just a few months.
I’m with you on cancelling the Business ones too, especially that Hyatt Business, people love that card but I’m still not quite sure why.
Haha that's honestly something I didn't even think about but I know exactly what you mean. And you're right about the annual fees for sure! They're quite hefty, but as long as each card is giving me more positive value than they're costing, then I'm happy to prepay for those benefits. As for the Hyatt Business, I think it's good for high spenders, but that's not me at the moment haha.
Good content. Thank you very much for sharing
Thank you so much!
I should probably do this too..but I kind of don't want to know either lol But I should make sure I don't stack too many annual fees in the same month.
Why are holding the Venture alongside with the Amex Platinum????
Just curious ❤
Krysta
How have you found splitting your spend between so many different ecosystems? I’m looking to run a similar setup, except with the reserve instead of CSP.
Hi spencer ! I am sure that you know about Personal Finance, But I recommended that you have at least 3 to 6 months of that annual fees covered because that way you make sure that if you add more in the future that you will have the money covered! 💰🙌
I appreciate you saying that! That's 100% right though. If you can't afford to pay for the annual fees on your credit cards without flinching, I would recommend to just stick to the no annual fee cards for now. You gotta be financially responsible for sure!
In stan's video he mentioned that you have to get the marriot brilliant sign up bonus prior to product changing the boundless to the ritz card but I dont believe you've highlighted getting the brilliant card. Is it coming after 2025?
Why aren’t you pursuing Ink cards ?
I’ve been stacking various inks to my businesses not only for the 0% leverage of 12 months but also for the new 90k bonus they just got updated to
You know, if the 90k offers were out while I was applying for the Boundless I would have really had to think harder about it. Now I can't get them until February, so they're on the backburner. I personally don't like taking advantage of 0% intro APR periods right now as I think it's a slippery slope, but those bonuses would definitely be worth picking up right now! I may be making a video on those cards once those public offers go live.
Great video Spencer! Which do you think is a better value, the CSP’s 25% boost or the VX 10k anniversary bonus?
Apples to oranges. You can't really compare them directly.
If you don't use travel portals, the CSP 25% is a useless benefit. And the 10k bonus is used to help justify the high annual fee. You're not really getting anything from it.
@@LK_EBM thanks! It was more so a fun question to ask but that makes sense. Appreciate your input
Hey there! I'd say that the 25% boost on the CSP is uncapped in the amount of value it can provide (if it fits your redemption habits) while the 10k Cap1 miles are capped to only that many miles. It all depends on how you like to use your points!
This doesn't work out for me. However,I enjoy watching you on RUclips ❤
Annual free credit cards are not a necessity so that's completely fine! You just gotta do what's best for you. Thank you so much for watching!
I plan on getting the CSP after I am done doing the welcome bonus for the Amex Gold. I want to run a two cc set up for now. Are these two cards a solid combo or should I keep my Amex Gold and get the Freedom Unlimited? Just debating between those two Chase cards.
I'd say that if you're wanting to use your Chase points with travel partners (which is what I'd recommend) then you need the CSP in your setup. You could just get the 3 cards though to build out a solid hybrid trifecta that would cover a lot of your general spending.
I would definitely add the CSP! Its a great match with the gold, especially when amex isn’t accepted. Plus the CSP has better insurance including primary auto CDW.
a phrase I heard in college that also applies to credit cards "it's not free, it's included"
That's a great way to think about it! It's included in the price of an annual fee.
Were you planning to get the Citi plus card also to pair up with the Premiere later on the road?
Not at this time to be honest. If I was mainly focused on a Citi setup I would, but there are a lot of other cards I plan to get in the future and focusing on one ecosystem alone right now isn't exactly my plan. That could change though!
@SpencerJohnsonOfficial yeah I'm holding off on that too tbh just the Citi custom cash for now.
I think we both applied at the same time for the Marriott Bonvoy Boundless same time with the 5 nights so that 5k to focus on atm.
Wanna get the Ritz card by next yr also but wanna work on business card bonus as well to many cards to get lol
Theres so many cards out there that give nothing and have a $70+ AF. Just because people have bad or no credit.
That's a great point too. Those predatory cards can be a big trap unfortunately.
When you upgrade to the Ritz-Carlton card, you can downgrade the Venture X card.
That's definitely an option! I'm not sure if that's the route I'll go exactly, but it's something to consider down the line.
Dang if thats your backyard thats sick lol
Haha I'm definitely blessed to have all this space. It's pretty amazing!
It sounds like you spend way too much time jumping through hoops chasing credits to justify annual fees. Almost like it's an addictive game you can't stop playing rather than wise financial management.
Jesus, you guys are so fast!!
Nah, you just took your time so you can call us fast 😊
@@ItsMeCJRight that’s exactly what I did hahaha.
Hahah idk how they do it dude. It's insane!
If they added 5 qualifying nights to the WOH business card stackable with other cards. Id probably keep it just so i can save 5 nights 😭
Haha fair enough! I wish they just made it a little bit more justifiable for people with smaller businesses.
I would suggest the Hilton aspire instead of the Hilton business.. It’s truly worth it after having the surpass for 4 years.
I could see myself getting the Aspire at some point, but if I got it right now, that would add to my 5/24 count and I'm avoiding that with the Business version. Plus the Biz version allows me to try out the Hilton ecosystem for a bit before committing to that $450 annual fee. I know the Aspire is great though!
Crazy to think there are people in the world that would NEVER pay an AF and there are people that would pay an unlimited amount of AF. Got to love banks😂.
Haha great point man! It all depends on your goals in the credit card game at the end of the day.
Hi spencer😀😃🤩
Hey Pablo!
@@SpencerJohnsonOfficial thank spencer
👍🏻
I appreciate you man! 🥉
1
You're gonna get him one day CJ, I can feel it 🥈
Can I suggest you keep your videos within 10-12 minutes? There are a lot of guys covering credit on you tube (and most keep theirs at around 10 minutes...) and it is tough to watch all of that if every video is over 17-18 minutes. When I see the length to be over 12 minutes I just skip quickly and move on. Most of yours recently have been well over 16 minutes. Just my opinion and hopefully you view it as constructive.
Thank you so much for the suggestion! I definitely want to start knocking that time down a bit when I can. I appreciate the feedback!
@@SpencerJohnsonOfficial Thank you, I appreciate all the good info you present.
First
Dude!!!! Come on 😣😣😣. How are you getting your notifications so fast!
That’s just crazy 🤯🤯🤯
@@ItsMeCJ I have fiber internet, 1000 mbps upload and download! That’s my cheat code 😈
@@AhmadKhwajazadathat makes sense. I think I have 300 mbps.
We might as well sit back and watch the mastery at work lol 👑