Thanks for tuning in everyone! If you haven’t already, please consider subscribing and let me know in the comments if you have the Blue Business Plus or any other interesting Catch-All strategies!
I must have said, "Wow" 10 times during this video. 🤯 Absolutely changed my thinking as I already have a high-yield savings account and the Business Plus card... Thank you!!!! Liked and subscribed 🫡
The BBP is a super solid card as a catch all. I keep a 2% flat cash back card as my catch-all, but I am considering getting another points card as a catch-all. Part of me wants a Venture X, but I am also trying to cut down on annual fees in general. This card seems like a solid fit.
Hey, really starting to love your videos. What I'm really learning is that in order to maximize the points, rewards cash back you have to spend. That's why I want my cards to be business cards so the spend will go towards investing in the business and it can be business expenses. Is there a formula for spreadsheet that calculates the interest you will earn in your savings account. I'm not sure that If I copied your spreadsheet that I would get the same figures.
Thanks for watching man! The spreadsheet in the description can be customized based on your spending and APY. Just enter what you actually spend each month on the card in the corresponding column and change the APY at the top to your bank’s current yield. Most bank accounts will pay interest monthly and you can invest that according to your goals. Just keep in mind that interest income is taxed, so I set aside 20-30% for tax time when you get the 1099-INT from your bank :) The total on the spreadsheet just shows a very close approximation and it takes up to a year to be paid out fully while your money is in the account before paying off the card. For the formula to be exact you’d need a spreadsheet that lets you enter every transaction, every day of the year and that takes more time than it’s worth in my opinion.
Amazing way to think about it. It’s really about the opportunity cost I guess. If you were to pay it off on time and in full every month, you wouldn’t have made the 5.5% from Wealthfront. So the 0% APR is fire. This is definitely a high risk strat that if you are not keeping tabs on your dates/ budget, it can burn you big time paying interest on that fat balance. Not a beginner strat by any means, more for experts for sure, but that’s what this beautiful game is about!
For me, it was a link on www.doctorofcredit.com. Sometimes it’s available via referral but I can’t find it anywhere right now. If you’re really lucky, sometimes you can find a 75k offer but I haven’t seen it for months now. Also if you’ve had other Amex business cards, you might get a mailed or online account offer. The blue business cash (the cash back instead of MR version) has a $500 cash back offer right now via referral including my link in the video description. I personally always check www.doctorofcredit.com just to see if there are any other better offers before using referrals
Probably a bad idea in my opinion. First off, there’s usually a 3% balance transfer fee and in the event you get any kind of manual review, personal debt moved to a business card could look like a bit of a red flag. For me, I don’t hold on to any debt longer than the 12 month into period which probably makes my credit profile look better to issuers in the long run.
Not in my experience and I haven’t heard of any data points of others having this problem. However, it is a slight risk from their terms but at the end of the day, they seem to be happy if you spend on their cards and pay them off :).
Great video and love the strategy! I also used it to further stack upon the 2x multiplier when I got the BBP. "Free" money and no balance showing on your personal credit report? Sign me up anyday!
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Thanks for tuning in everyone! If you haven’t already, please consider subscribing and let me know in the comments if you have the Blue Business Plus or any other interesting Catch-All strategies!
You just earned a sub! Nice content man!
amazing information! liked and subscribed, thank you
Thank you professor!
I must have said, "Wow" 10 times during this video. 🤯 Absolutely changed my thinking as I already have a high-yield savings account and the Business Plus card... Thank you!!!! Liked and subscribed 🫡
Thanks so much for the sub and like! Hope you make some more cash off your set up!
Good breakdown of all of your spend including the deductions that you made to account for tax fees, etc.
Thank you!
The BBP is a super solid card as a catch all. I keep a 2% flat cash back card as my catch-all, but I am considering getting another points card as a catch-all. Part of me wants a Venture X, but I am also trying to cut down on annual fees in general. This card seems like a solid fit.
Hey, really starting to love your videos. What I'm really learning is that in order to maximize the points, rewards cash back you have to spend. That's why I want my cards to be business cards so the spend will go towards investing in the business and it can be business expenses. Is there a formula for spreadsheet that calculates the interest you will earn in your savings account. I'm not sure that If I copied your spreadsheet that I would get the same figures.
Thanks for watching man!
The spreadsheet in the description can be customized based on your spending and APY. Just enter what you actually spend each month on the card in the corresponding column and change the APY at the top to your bank’s current yield.
Most bank accounts will pay interest monthly and you can invest that according to your goals. Just keep in mind that interest income is taxed, so I set aside 20-30% for tax time when you get the 1099-INT from your bank :)
The total on the spreadsheet just shows a very close approximation and it takes up to a year to be paid out fully while your money is in the account before paying off the card. For the formula to be exact you’d need a spreadsheet that lets you enter every transaction, every day of the year and that takes more time than it’s worth in my opinion.
Currently waiting for September, as last year the Blue Business cards had a $750| 75000 MR point SUB for the same 12-month spend
Nice! I might keep an eye out for my P2 then too
Amazing way to think about it. It’s really about the opportunity cost I guess. If you were to pay it off on time and in full every month, you wouldn’t have made the 5.5% from Wealthfront. So the 0% APR is fire.
This is definitely a high risk strat that if you are not keeping tabs on your dates/ budget, it can burn you big time paying interest on that fat balance. Not a beginner strat by any means, more for experts for sure, but that’s what this beautiful game is about!
Very true, it takes a bit of discipline and planning but for me is worth it
How do you find that 50K SUB. I didn’t know that was a thing!!
For me, it was a link on www.doctorofcredit.com. Sometimes it’s available via referral but I can’t find it anywhere right now. If you’re really lucky, sometimes you can find a 75k offer but I haven’t seen it for months now. Also if you’ve had other Amex business cards, you might get a mailed or online account offer.
The blue business cash (the cash back instead of MR version) has a $500 cash back offer right now via referral including my link in the video description.
I personally always check www.doctorofcredit.com just to see if there are any other better offers before using referrals
I just got this card and currently doing the spend to get 50,000 ME points and I made a video to on my blue business plus
Awesome! Where’d you find the 50k offer?
@@FatStacksAcademy it was in my offer page on my Amex app
Nice!
Should you or could you transfer a debt on your personal card to your business card? And is that a good or bad idea and why?
Probably a bad idea in my opinion. First off, there’s usually a 3% balance transfer fee and in the event you get any kind of manual review, personal debt moved to a business card could look like a bit of a red flag. For me, I don’t hold on to any debt longer than the 12 month into period which probably makes my credit profile look better to issuers in the long run.
you wont get flagged from spending personal expenses on a business?
Not in my experience and I haven’t heard of any data points of others having this problem. However, it is a slight risk from their terms but at the end of the day, they seem to be happy if you spend on their cards and pay them off :).
Amex Checking and Saving gives more APY then Wealth Front
From what I can find Amex is at 4.35% APY and Wealthfront is at a base rate of 5% or 5.5% for referral
@@FatStacksAcademy plus 1 APY checking and 4.35 Savings = 5.35
You’d get 1% on the money in your checking account and 4.35% on the money in your savings. I don’t think it stacks like that
👀‼🎯
Great video and love the strategy! I also used it to further stack upon the 2x multiplier when I got the BBP. "Free" money and no balance showing on your personal credit report? Sign me up anyday!
Thanks Monty! Glad to see you’re also a man of great interest!