How To Churn Credit Cards
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- Опубликовано: 28 авг 2024
- Ever wonder how people 'churn' credit cards? Let me shed some light on this topic. We'll look at the possible rewards you can get and some of more the popular ways to manufacture the spending as well as some other unconventional methods.
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I love your videos and how cold is it in your house haha? Nice jacket
It's usually on the cooler side as I just put on a jacket. But even in room temp of 74F, I often still wear much warmer than others. I might have started doing this because it keeps me from getting a cold as easily by staying on the warm side.
For those who pay rent. If your apartment accepts credit cards as a form of payment. You can easily make the $3k or $4k spend in 3 months. Assuming your paying $800 to a $1,000 plus in rent. The $12 to $19 in fees are much less risky. Than buying stuff and reselling it.
I agree. With a fee for using credit on your rent, its a great way to fill up your minimum spend requirements to get the bonus. This is IF you have the option.
If they don't, look at using Plastq. They will help pay bills that cannot ordinarily be paid by credit card.
how many landlords and property owners will accept credit cards when they will have fees taken out of the payment? i know if i were them, there's no way i would take them.
Unfortunately it's very very rare, I tried so hard to find companies who will accept AmEx and even tried for my insurances, rents and finances.
Only BIG companies accept AmEx such as google or someone around that large size or a little lower.
BTW if anyone knows how I can pay rent even though they don't accept any ideas?? Also AmEx enable money transfer but after 6 months!
Why are you always wearing a jacket? Hacking on some electricity savings? hehe
Lol, no way around it for me. I tend to wear on the warm side even at room temp. Just warmer feels better to me rather than cool.
Thanks to credit card churning, I just booked a 4 night cruise for my fiance and I for our honeymoon. We are staying in the fanciest cabin that they have on that particular ship and the final cost to me was $277. People say you won't get rich off of credit card rewards, but it certainly doesn't hurt.
I know right? How nice is that? =D
Can you make a video on your stock investments? like what type do you invest in? 401k, index funds, etc.. Thanks
Yes. It's here: ruclips.net/video/q_jZb7O6Luo/видео.html I generally invest in mid to large public stocks rather than funds. I know this is not the usual way but I manage my own portfolio.
BeatTheBush I'm looking into trading websites. I plan to manage my own portfolio. Any suggestions on which site/app to use. I.e. E-trade, is etc?
There's etrade, merrilledge, ameritrade, scotttrade and robinhood. I'd just pick the cheapest per trade service and go with that. There is a nice aspect with having etrade though since their research info is pretty good.
BeatTheBush just opted to go with E*TRADE . Can you do a video on basic trading 101? For instance, I'm figuring out how to buy a stock and sell a stock.
If I heard right, Home Depot takes credit cards to pay off their monthly statement. One of the reps there told me that but I didn't try it. Later, you return the stuff and have them credit your Home Depot account then let the account sit. Perhaps they will then send you a check if you don't buy something else.
you could also turn off the heat and wear jackets instead!!
How do you protect the "average age of accounts" part of your credit report while churning cards. I really want to start doing this, but I'm afraid I'll start hurting my score. What's the best method to use that won't hurt your score? My current score is 710. I currently have five cards and my oldest card is 3.5 years old.
You can cancel only the cards you churn. They are young so they can be cancelled. I wouldn't start aggressively yet since your score is not strong enough. You can however get and KEEP about 2-3 cards a year if you qualify for them.
I like Amazon as well. It's an easy way to meet minimum spending requirements, and you can use Amazon credit to buy Whole Foods grocery gift cards. I can buy up to 2 months worth of groceries.
Huh, that's an interesting way to convert the amazon gift cards back to something else. However, Whole Foods is known as whole paycheck. A lot of their food is over priced but if you can afford it, well, you can afford it. =D
Only for groceries that expire (liquids, fruits, or vegetables). Everything else I can order on Amazon and have it shipped for free.
I go there sometimes for the more unique types of food that cannot be found in the other grocery stores but it comes at a high premium.
but cancelling cards is not a good idea, it affects your credit score.
What about bank account churning?
I LOVE bank churning. The downside is that you have to claim it as income on your taxes.
Really great videos! Thank you for sharing your knowledge on advanced financing and credit card usage. You've probably already made a video about it, but I'm wondering about how frequently you can apply for new credit cards without negatively impacting your credit score from hard credit checks? My understanding is that more than two hard credit checks in one year starts to negatively impact it.
I usually put that info in different vid but not solely a vid on that. I generally recommend 2-3 a year. I'm actually pushing harder than that as an experiment, lol.
BeatTheBush thanks for taking there time to reply. On a related topic, how many times would you apply for increased credit limit, since those usually also create a hard credit check?
Also, do you have any idea what a reasonable amount is for credit increase to ask for our odds that too variable from person to person?
Also, once you have really good credit, would you say the benefits from "churning" new cards outweighs the benefit of increasing your total credit line?
Thanks for your videos! They are really helpful to me in taking those extra steps to improve my finances.
can you use a darker marker for your white board?
Yep, I will and all new vids I bought new markers.
Your jacket makes a lot of noise. Good video though. You mentioned cancelling cards. Wouldn't it better to just keep them to keep your available credit amount up?
Also, what do you think of getting a travel rewards card (airline and hotel type of rewards) for someone who only travels around once a year?
Thanks for your feedback. I'll keep that in mind when wearing a noisy jacket. =D Keeping the cards is one strategy to keep your total credit limit high but I generally like to cancel cards I don't use after a year or so. This is so you can potentially get it again later to get the cash back again.
Travel cards are great for a once a year traveler IF you can time it properly before the annual fee kicks in if any. It depends widely on the card since mostly, the airline/hotel card you might be limited to their airline or hotel network and I feel that's too restrictive for me.
BeatTheBush
Thanks for the reply. I didn't know you could be eligible for rewards again after already having had a previous account with the company. I learn something new everyday on your channel, haha. Thanks!
You can and I've done this before. Have to watch out for the 5/24 rule for Chase cards though.
BeatTheBush
One more question. What do you think of the IHG Rewards credit card?
What's IHG?
I have the AMEX PRG card. I got several offers for the 65k points after 4K spend but then I got the 50k points after 2k spend. I opted to go with the 50k offer. It was hard for me to meet the 2k spend but I ended of doing it.
It's a pretty good deal in terms of spend to reward ratio. Of course, even if its hard to meet, you can always defer some spending through gift cards.
This is the third time I have watched this video and I have learned something new every time! How cool is that???
Thank you!
In your opinion how long would you wait in between applying for a new card? I just recently got the discover IT card and love the 5% back but they change per quarter, so i'd like to apply for other cards to have options. My credit score is in the mid 700's and my utilization is very low.
I even apply to two cards the same day as long as your score is still high enough to get the card you want. Most card issuers just looks at your score. Chase though has that 5/24 rule (5 card opened within 24 months) you might watch out for. Of course, if you apply to too many even outside of Chase, your credit score will start to go down from too many hard inquiries.
BeatTheBush Hi, nice videos. Very educational. If I apply for a CSR and downgrade to a different chase say freedom or unlimited after 1 yr will that be counted as 1 or 2 cards
How do you go about canceling and renewing cards? Does it hurt you much on your credit when you do that? And is it likely the company would approve you right after you cancelled?
should I get an amazon rewards card? I really enjoy your advice, thank you.
The answer largely depends if you already have Amazon Prime. If you do, you can get 5% back on Amazon. If you do not, all is not lost because you can still get 5% off or more through buying Amazon gift cards at grocery stores IF you have high percentage back at groceries credit card.
makes sense! Very insightful. I do have Amazon prime so I think I will apply. Thank you for your help and quick response. keep up the good work 👍
Oh! Then it's a no brainer. Yep, it's a great deal to get the card then. Cheers! =-D
About the manufacturering spending technique instead of buying gift cards or buying anything, can we just pay ourselves through another PayPal account? Or buy a gift card spend it, and return the item to the store to get cash returned?
Chase Sapphire Reserve is now 50,000 bonus points, not 100,000 points (unless you apply in-branch now through March)
Yeah, I watched it pass right by and didn't get the card myself. The rewards are great it's hard to even defer so much spending.
BeatTheBush you could still apply in the branch! I am currently working on my 50K Sapphire Preferred bonus, almost there. Great channel, by the way.
Agreed. The reduction really reduces the incentive. Now I really wont get it when I was just on the fence before. Thanks!
Just remember that if you make any profit on reselling your things, you have to report that as capital gains and pay the appropriate taxes.
Is there a benefit to doing that? Or is it more for legal reasons?
Yup! Although, it happens sometimes and more often if you're really good at reselling. Most the time, the fees and shipping costs amount to 20%-25% ish and that gets subtracted from your sell value.
Even more often the case, when you sell your old junk, you often get rid of stuff at a lower price than what you buy for. In that case, it does not need to be reported and you do not get a credit for the loss.
It's required by law so yeah, it's for legal reasons.
Almost everything you own is considered by the IRS to be a capital asset. If you sell it at a profit, then you'll have incurred a capital gain, and Uncle Sam will want his piece. You'll have to record it in form 8949. If you sold a bunch of stuff at profit, you'll have to get multiple 8949 forms.
If the asset was held for less than a year, then the profit will be taxed at the normal income tax rate. If held for more than a year, the rate will be 15% for most tax brackets. The rationale for the discount on long-term capital gains tax is that, because such capital gains usually comes from the increase in capital of a business which has already paid its own income taxes, any additional tax is effectively "double taxation." To compensate, such long-term capital gains tax rate is lowered.
However, if the asset was a collectible (work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage), then different rules apply for long-term capital gains. For those in the 28% tax bracket or lower, the long-term collectible capital gains tax rate will be equal to your marginal income tax rate, and those in higher tax brackets will pay the 28% rate. Thus, for most people, there is no special discount on the capital gains tax for long-term profits of collectibles. The rationale here is that such "collectibles" aren't really economically productive, and haven't already paid an income tax, as businesses have.
Out of curiosity, I looked into how file a long-term collectible capital gains as an individual. Let's say you sold an ounce of silver that you've held for a couple years, and you have no other offsetting capital losses that year. It's convoluted if done on paper. You'll need to fill out form 1040, obviously, as well as Schedule D, Form 8949, the 28% worksheet on the instructions for Schedule D, the Schedule D Tax Worksheet in the instructions, and then consult the Tax Tables. It all ends up flowing into line 44 of form 1040.
Enough to make you head spin, that's for sure. Luckily, it's difficult to turn a profit selling your old stuff and most the time, you have a loss. It's a great way to reclaim money you put into something and not have it sit for any longer to depreciate.
Thanks for sharing money 💰 saving tips. Just subscribed.
You're welcome! Thanks for your sub! =D
But don't you still get charged interest to meet minimum spending
Great video! New subscriber!!!!cant wait to watch all your vids
Welcome Keyz Sotelo! That's quiet a plan! I think it adds up to be maybe 24 hours worth of videos! lol.
im up for the challenge. I actually watched about 3 hours worth today while at work. and tomorrow at my other job ill be able to watch atlas 6 more. LOL. I also used your link for the Audible download, hope that helps your channel (i also let the ads play all the way without skipping, not sure if that helps your overall Adsense #'s) I've picked up a lot of new info from you and hope to learn more. Much success!!!!
Thank you for being considerate and using the Audible link. I really appreciate it.
But you know what I really enjoy? Success stories of what you do with the info. Like how many points you've improved in how long. If you feel less pain from using my method of contact lens removal. Or anything else really! I really enjoy reading about it all. =D
One thing to definitely avoid is manufactured spend with American Express. Amex is definitely the most strict lender when it comes to MS. They will shut you down and blacklist you if you apply for a card and go buy $1000 in Visa gift cards to hit minimum spend. They have various methods of knowing what you bought at the store, one being level 3 data acquired from the merchant, and also determining from the amount you spend (a $505.99 charge is obviously a $500 gift card plus the $5.99 activation fee).
They'll also blacklist you if you open cards with them, hit minimum spend without MS, and then close the account once you've hit minimum spend.
Lesson here is don't fuck with Amex, they will screw you over. Happened to a friend of mine who was mortified when he lost his relationship with Amex and 100,000 MR points because of churning and MSing with them.
IRS charges fees for paying with a credit card. :) Just fyi. I churn cards all the time though. Actually just got another one today! Yay for free money!
+Christina B. Yes they do so pay with a checking account to get a bonus. Although I think Turbotax no longer offers this bonus.
Is there a suggested wait time in between the cancellation of a card and apply for a new one?
Will the same bank deny you if you apply again after canceling?
Is there a limit to how many times you can apply to each type of credit card after canceling each time?
Good info.
=D
What FICO scores ranges works best for Credit Card churning?
I'd say about 800+ if you plan to use your credit score. If you do not need it then you could have it down to about 760 or so and still get all the good cards.
If you have many credit cards, will it cause any problem when applying for home mortgage?
They don't look at how many you have, they look at your credit score itself. So if you applied for many recently, that may reduce your credit score. However if you've had 20 cards the last 5 years, you're fine.
Hi! Is it a good idea to take cash advance from the card in order to meet the required amount to gain the points? Does cash advance count?
great stuff... do you pay all your bill through platiq to get the points or you pay the bills directly and earn the points and cash back?
I leave bills alone since they are small. I use plastiq for the big fish so I don not have to deal with using a card multiple times.
great ideas!
Thanks! =D
Just out of curiosity, would you be able to tell us what your AAoA (average age of accounts) and your score is on your current reports? I know AAoA and credit inquiries are only a collective 20% of a credit score, but considering how low your AAoA must be with so many new accounts and how high the number of inquiries must be, I'm curious to know how those two factors effect your scores against the backdrop of (I'm assuming) perfect utilization, payment history and account type mix. THX BTB!
Oh my gosh, it'll take a while for me to figure that one out as I have so many accounts to look through. I can only offer that a majority of my accounts are over 10 years old. And perhaps AAoA is kept high because I cancel the young cards after a while. I don't go crazy churning like people who are really on this so I recreationally apply for cards maybe 2 a year.
Ah HA! I did it just for you! Average age is roughly 6 years.
Score is around 830 these days.
BeatTheBush Nice, your aaoa isn't too far off around mine, which is 4.5 years with the oldest account being my older brother's credit card that I'm an authorized user on and is 15 years old. I'm guessing once my one negative account ages off in two months, I'll get a pretty significant bump from 730. I bet churners who really take it to the max must have like 15 inquiries a year and aaoa of like .5 years. My guess is scores probably top out at around 730 for people with that sort of super serious churning activity on their reports. Still thinking of getting into it once I get the personal loans I need for a business start up tho. Great vid man!
Hard to say. I think if you do more than 6 a year, you'll see your score significantly impacted. If you have a young card, you can cancel it and the AAOA will just pop right back with no long term effects. One annoying thins though is your credit report may turn into a 100 page monster.
I gave the American express platinum card and for me to get the 40,000 points I need to spend $3,000 with in the next three months
the problem here is that I have to pay everything thing by the end of the billing cycle.
how can I make it easy on my and spend all that money and not hurt my pocket ?
It sounds like it's hard for you to pay the amount that you spend. It makes it a lot harder when you cannot afford the minimum spend but you could try to pay for things that others pay you back on. Or buy things to sell so you get your money back.
Is there a smart way to go about applying for 0% cards? The only thing I can think about is not applying them all at once and then apply for a new 0% card once the date for the previous one ends so I never have to pay interest rate for my purchases fir awhile. Do you agree with this method? Is there a better way to go about it?
Awesome video! Thanks!
=D You're welcome.
Very interested in doing this once I graduate college. I have a pretty good credit score but little history so I really won't get approved for much. Also spending say $1000 in 4 months is a little unrealistic for me. I really want to do some traveling after college.
The cards has varying spending requirements and some have it as low as $500 in 3 month so that might be more manageable.
Yeah, I think there is a "student" card that has like a $25 bonus after spending $500 in 3 months. I just feel like it's a lot of hassle for $25 considering if I refer someone to my Discover card I get $50. The main thing is I don't know what I would get approved for and don't really want to do a bunch of hard pulls so it's a tricky line I have to toe.
I agree, too much hassle for $25. If you look hard enough, some websites gives indication of what credit score you need for a certain card. It's not a slam dunk though but at least you know you're within the range.
BeatTheBush let's just say for the sake of it, with a credit history of 1 yr and 750 CS, what are my odds of getting approved for something other than a student card? I know these hypothetical questions are dumb and you don't have the Rosetta Stone to credit approval rate (I actually hate these Q's), but I'm going to ask anyways haha? For example the Citi Double Cash card?
750 is pretty good actually. I personally wouldn't be too fearful and just apply. If you don't get it then apply again 1 year later.
Awesome tips I can get to use when I have a credit score XD.
Lol... if you do not perhaps one day. =D
Are there any rules that certain cc providers have on cancelling and then getting the card? I hear that some of them ban you after doing it so many times? Do you know how chase, capital one, and amex work with that? Thanks.
very helpful!
Regarding the chase reserve credit card, is gift card qualified for the first 3 month spending ? For example, can I buy $4000 worth of gift card to qualify for 100k points ?
I have purchased gift cards for large spend requirements before and it does count. You just gotta hold on to the card and slowly spend it off. You can buy $4k worth of gift card but it'll be a lot of physical risk.
Great video! Does it ding my credit score to open a bunch of new cards in the same month? Also does canceling the cards after I get the bonuses negatively affect my score? Thank you in advance
Yes it does since you rack up many hard inquires. Cancelling cards reduces your total credit limit and the extent of which depends on how much it reduces it by. So both can reduce your score.
I have AMEX gold which I use everywhere possible. A question I have is obviously being a charge card it wouldn't help my utilization ratio. So would I still want to be using all my other (5) cards at least once a month. Meaning if I don't use them would they show "inactive" and not act as available credit towards my utilization?
For charge cards, it has no limit so it does not get factored into your utilization ratio. You still want to use your other cards because they are still being counted towards your score. If you do not use them, they will show inactive but the credit limit will still count towards your total credit limit.
+BeatTheBush awesome, makes sense! Thank you for your reply!!:D
no problem. =D
Great video. You have a new subscriber sir.👍
Thanks! =D
Subscribed!
What’s your top tips for hard inquiries? I’ve got 13 right now & cant get approved for any of these solely got this reason I am getting denied
Time. Wait until they fall off.
Is it snowing in your house?! Lol Thanks for all the info. Im just starting out in this whole arena
Lol, I tend to wear very warmly. =D
BeatTheBush rumor has it that's his secret to keep his utilities low.
You could use the savings to buy new dry erase markers.
I bought new ones since this vid! Boy, I really didn't know what I was doing. Markers of all things.
when do you recommend to cancel them? after year 1 or sooner?
Only if your credit score will handle it. But if there's an annual fee, I would cancel regardless.
I mean, I would cancel before the annual fee kicks in. And if you pay an annual fee the first year, then I'll cancel before the 2nd year fee kicks in.
Whats with the coat? Did I catch you not using your heater to save money? lol
Anyone know if I can use my own payment processor to take in 500 in each cc then just deduct the 15 dollars in transaction fee that comes with that?
I pay my mortgage with my credit card and meet spending goals to churn - baby - churn!
Your mortgage lets you do that?
@@BeatTheBush yes
this is good stuff.
How soon after you meet spending requirements and receive cash back do you cancel card?
A month or two before they charge the annual fee.
Can I do this? If I close my credit card, transfer my money to another 0 fee 0 interest for a few months, and then when the zero fee is almost up, re-apply for the previous credit card that I closed in order to get the starter pronotion special of 0 fees and zero interest. Then repeat the cycle. Does this method work, anyone tried it
hey is amex gold charge card a good idea for me? i have just 2 cc a d never a late payment and i pay i full. im trying to build excellent credit . my fico8 ex is 713 right now
It might be hard to obtain an Amex gold at a score of 713 and only 2 cards even with perfect history.
awesome video :)
Thanks! =D
Great topics but I think it's time to invest in some film editing software. The white board is getting old and hard to read at times.
Ahhh but if you watch my other videos, you'll know why. Anyhow, I got some new markers recently. =D
Any reason you wear your jacket when you're indoors?
I do that even when it's room temp. Is it distracting? I tend to do that because I like to keep warm.
No not at all, it was just an observation. I just thought you like to keep the thermostat low =p
Ahhh =D Lot of people say the same thing but I wonder why it's so strange to wear a jacket indoors.
Finally, the firts video without a stupid face on its cover. Thanks.
You can't buy gift cards with credit cards at least not in Massachusetts
Sadness. You can still use it to pay bills via Plastiq then.
Just purchase them online. Was trying to purchase a gift card at walmart in California the other day and they told me I couldn't use my credit card. I was surprised, but you can always buys gift cards online. Samsung pay has good gift cards at 20% off sometimes, just have to wait for their promotions.
I just buy a WalMart gift Card(s) and sell it on craigslist for a small discount. Probably the easiest thing to resell. No ebay/paypal because it's too easy to get scammed that way. I also, depending on the minimum spend, purchase gold or silver which I buy all the time anyway.
If you look up churning on google you can find a lot of advice about loading money onto certain prepaid cards and using those cards to buy money orders. i've never tried it, but a lot of people swear by it.
Time! Time is lost here! But if you are comfortable doing this then sure thing. It takes practice to know what you are doing for any given trick. I generally do not like craigslist too much myself although I used it many times before.
can i buy stuff on amazon with the credit card, recieve thr rewards and return the item back to amazon
The spending requirements subtracts out returns.
I like to keep my gift cards in an external hard drive in my safe that I can access when I need them and it shows what folder it’s in physically while showing me the numbers to use on the screen for online purchases lol
thanks for the gift card idea. Chase keeps offering me saphirre but I am not a spender. I may be able to make it work if I use that gift card method. thanks again
edit. I forgot! you mentioned in another video that Chase only will approve you for two cards correct? I have the amazon card and slate but slate is useless after I used up the interest free period.
You can get more than 2. It's just when I got my third one, they wanted to split the credit limit among the cards. Also, try plastiq. You have to pay a 2% fee to pay bills with your card but it is a great trick to fill up the spending requirement.
I've never paid attention in the past. Do you still acquire points at the regular rate as well as the bonus when making the initial $x000 in first 3 months? I just received the amex premier gold 50k pt offer and I'm thinking I might as well try since I haven't applied for a card in quite a while.
I actually churn it much harder as of late. I've obtained ... uhhh... 50k points x8 or so this year? So 400,000 points, lol!
BeatTheBush I think you misunderstood my question. Do you know if those first$2000 of spending earn you points at the regular rates as well as the bonus 50k? (Hence a "bonus"). And to respond to your comment... Dang! What are other cards did you churn?
It does. I made a video on the cards I went through the past 2 months here: ruclips.net/video/DND_TPj7uiE/видео.html
The CSR from Chase is definitely worth the $450 fee as you get $300 in travel credits that post instantly to your account plus the Priority Pass card for most airline VIP lounges (worth at least $400 to me), plus you get $100 for Global Entry/PreCheck every 5 years. I applied in November and earned travel credits for 2016 and 2017 before any payment was due so I had a credit on my first statement ! Awesome card, worth tracking down a Chase branch to get the 100,000 points. Will I keep the card forever ? Who knows, but for short-term benefits it can't be beat plus it's a great ice scraper ! lol Alaska.
You mean you got two $300 travel credits because it's credited per year and not per year of your membership? It is a great card if you can make use of the travel credit. I do not travel that frequently so it might be wasted on me. It's sort of like pre-paying for the credit that I'm not sure if I'm going to use. For those that are frequent travelers, its well worth it even with the fee.
Exactly - $300 per calendar year and very liberal as to what constitutes travel as a snorkeling charter in Maui was covered as well as the airfare between islands and part of a car rental. Amex has a similar card but it's limited to travel 'incidentals' that doesn't include airfare, and it has a ridiculous spend to get the 100K.
Hmm, I didn't know it's so liberal so that might work. Too bad the 100k dropped to 50k few days ago eh?
If you apply at a Chase branch before March 11th it's still 100k - I just wish it was annual vs 1-time - I wonder if balance transfers qualify as minimum spend ?
No bueno on balance transfers, but I negotiated a 7% prepayment discount on HOA fees for a year, yay !
Awesome...
=D
Hey Beat the Bush I need some help I just applied for the HSBC Cash Rewards MasterCard and got approved the sign up bonus is waste 500 and get 150 cash back but after I got approved for the card I was reading more about the card and it says you could only redeem as statement credits or deposit to a HSBC bank there's not a bank close to where I live so what if pay my bills meet the spend and pay it off and then go get the 150 and get a prepaid card add 150 and pay it off with the statement credit what do you think? Thanks in advance hope I made sense lol
Don't buy a prepaid card because you have to pay a fee. Why don't you just get the statement credit and just spend you normally would on the card until you reach $150?
BeatTheBush I'll do that thanks
“It’s not illegal to buy stuff” lol 😂
XD
Another RUclipsr or said that if we cancel the card then all the credit history will be gone? Is this true?
If you cancel the card, it will not be gone completely. It will stay on record but the average age of your credit will change immediately.
BeatTheBush i started out with probably the worse credit card creditone card, and it has an $80 annual fee. I've used it to raise my credit to 800. But eventually I want to get a Chase Sapphire card. Can I transfer my credit to the Chase Sapphire card? I just want a card without an annual fee and to keep my credit score at 800
You can ask if you can keep the same number but it's up to them because they would rather you pay the annual fee right? This is down to company policy.
Wait if you're in California you shouldn't be wearing jackets like that. In Minnesota we wear those all the time.
I just tend to keep myself on the warmer side. In Minnesota, I wont be able to move from wearing 3 jackets.
It's so hard to read the stuff written on the whiteboard..Can you use some other method haha
Yup. All new vids has a new method.
Buying then reselling gold to meet minimum spend on my Amex, anyone else down this ?
Reselling gold has about a -10% loss. But I suppose you can make it work since sign up bonuses are at a higher rate than that. It sounds like a lot of work.
Damn you've got some cheap ass car insurance. $200 something for 6 months? A steal.
Depends a lot on driving years and the car. =D
Why not just use paypal to pay yourself with the 2.75% transaction fee? instead of collecting gift cards?
The more fees you avoid, the more goes in your pocket. So if you will spend the money on gift cards anyway, it's a lot better. Also, Paypal-ling yourself is not advisable as it will trigger a review of your account.
BeatTheBush will it trigger a review to your credit card or your PayPal? Will this take place even if you email a separate email from your PayPal email asking for payment?
Are you wearing a jacket because it's cold and you don't want to turn the heater on to save money?
Partially. But I've been known to wear a jacket indoors even when it's 74F. I like to keep warmer than others.
Just curious...are you wearing a jacket to save on your electric bill?
I guess I sort of am. However, I tend to wear jackets in the office too. Lol.
For someone who works this system and cancels credit cards for bonuses every 2 years, do you think there would be a large impact on their credit history and score? I want to try this for the bonuses, but unsure if it's worth damaging some credit history...
It does make it really long. It does make it go down a little short term but I've been doing it for a really long time and my score is still insanely high.
You must really hate taking out trash.
It's more about doing more with less time.
Love your videos but you misspelled Craigslist. Haha.
Hey! You're right! Nice catch! =D Lol, my bad.
So today I went gas station shopping , My dad's birthday and fathers day shopping?
this is what I picked up today local merchant pizza place gift certificate Capital 1 venture card
gift card Home depot, bottle water and a Milky way used Capital1 venture card.
went to quick check don't know if there are any out in San Francisco , but it's a gas station Picked up a bed bath and beyond gift card and 2 bottles of soda for the football game used my American express blue cash card
picked up a bp gas gift card used my American express blue cash card
picked up a outback gift card Used my Capital1 venture card.
I got gas at shell and don't have a shell charge card, So I used my American express blue cash card.
I was going to buy a Shell gift card but the gas station attendant said for a shell gift card it has to be cash, I can understand if you were going to buy a Amc , Ruby Tuesdays or Fridays gift card and the Merchant said cash only for those gift cards that I understand but buying a shell gift card I don't think that's right?
I went and got a hair cut used cash as in physical cash NOT my debit card but real money.
are you getting that Gold card or are you just going over the details with us? when they say points it's usually for transferring points so let's say you have that card what you can do is transfer your points to Hilton, starwood or delta accounts and any that are also partnered with them.
Hamsandwich this part is for you. first of all do you travel on company business? do you stay a lot at hotels even if it's in the same state where you live?( Not the same town but the same state) if you only travel 1 time a year it's a very bad idea.
if you travel 4 times a year yes an airline and or hotel credit cards make sense.
Well the video is about how to churn cards in general. I'm debating if I should get the card so I haven't decided yet.
Dang I churned too hard and my score went down to 680
It happens, let up a bit and it'll recover in half a year.
The best way to do it , is to have a square account. 😁
=D You might be paying fees though.
@@BeatTheBush its like a 2 percentages fee for every swipe. That's noting comparing to buying a visa gift cards. Besides you cant even buy visa gift cards with your credit cards now days. The only place that do accepct credits for gift cards is only CVS pharmacy. You didnt hear that from me thoe!
PayPal yourself from your credit card
There's a 3% fee for the sender side and it's in the grey area and could draw the attention of the IRS due to 'unusual' activity. Just from the slight possibility, I rather stay far from it.
@@BeatTheBush not if you select to family or friends.
+BeatTheBush you should earn million + points with but do you have a instagram snapchat & twitter
I do have a twitter linked through my channel page. I haven't setup an instagram yet though. I do have a facebook page.
Ooh Now I Get It Becuase You Don't Have Other Social Media At All You Cool Still I Like That Video You Got But You Still Need A million Points In Your Card
I guess I participate mostly on RUclips as that's where all my main content lives.
AHHH I’ve got 500 dollars!! lol
Did you just get this card too? Nice!
Lol no I just thought it was funny when you said that in the video. I like your ideas. I used to buy cheap inventory from thrift stores and sell on amazon and Ebay for many times what I paid .
This is ridiculous. Just get to the point. Go to your WM, buy $500 VGC's then take Them to the service desk and buy MO's with Them, to Pay off your CC. Come on. Sheesh.
This is old news really. All this information is all online anyway. I have All These Cards, but can't get Any More Chase due to 5/24. I MS by buying VGC's then buying MO's with Them. Yawn, old news really.
JACK WILLIAMS its not all about you jack!