A 3-Credit Card Cash Back Strategy Worth $500,000+

Best 2% Cash Back Credit Cards: bit.ly/3DeaqEM
In this video I update my credit card rewards strategy, including our current balance we've accumulated just from credit cards. I also walk through a simple 3-card strategy you can use to generate on average 3% or more in cash back.
We'll also look at how one can build wealth with credit card rewards or improve spending outcomes in retirement.
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Credit Cards Mentioned in this Video
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Citi Double Cash: bit.ly/3SDoOwe
Chase Freedom Unlimited: bit.ly/3f7nDHs
Amex Blue Cash Preferred: bit.ly/3gLDnk3
Wells Fargo Bilt Card: creditcards.wellsfargo.com/bi...
Chase Business Ink Premier: bit.ly/3gyY56r
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My Favorite Online Banks: www.allcards.com/best-online-...
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#cashback #creditcard #robberger
ABOUT ME
While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (amzn.to/3by10EE)
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.
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Пікірлер: 120

  • @mrwelch2004
    @mrwelch2004 Жыл бұрын

    Here's my lineup: Citi double cash, capital one savor (3 percent on restaurants, entertainment and groceries, Amazon prime (5 percent on whole foods and all Amazon purchases) discover rotating 5 percent, Venmo (top tier category pays 3 percent)

  • @BryanColliver
    @BryanColliver Жыл бұрын

    i use the fidelity card 2% back in to my account every month

  • @antisocialDude
    @antisocialDude Жыл бұрын

    Thanks for outstanding work, Rob. Your reasonable approach is a much needed voice of reason here on YT

  • @rob9990
    @rob9990 Жыл бұрын

    I use a similar setup for rewards, but this is my setup: Fidelity Rewards - 2% on everything, and can deposit right into a Fidelity investing account - no annual fee Amex Blue Cash - 3% on groceries - no annual fee Sam's Mastercard - 5% on Gas, 3% Restaurants, 3% at Sam's Club - no annual Fee (Do need to be a Sam's club member)

  • @mere_cat
    @mere_cat Жыл бұрын

    Rob is great! He even answers emails if you have questions! Thanks you! So glad I found this channel!

  • @gracechristianschoolcypres3189
    @gracechristianschoolcypres3189 Жыл бұрын

    EXACTLY!!! Great stuff right here.

  • @louiswelrod
    @louiswelrod Жыл бұрын

    Great video. The Fidelity Rewards Card offers 2% on everything and rewards can be automatically deposited into your Fidelity account. For dining (you can choose a category, but it stays until you change it) I use a BOA Mastercard which gives 3% back on up to $2400 per quarter. I use the Chase Amazon card for Amazon purchases and Whole Foods (5% back). Finally, I use a CapitalOne Visa with 1.5% back for non-Amazon online purchases as it has "virtual cards" that provide more protection online. All my rewards are deposited into grandkids' college accounts. Up to 18 years growth can add up to a lot.

  • @LK_EBM
    @LK_EBM Жыл бұрын

    I recently got approved for the Bilt credit card! They gave me a $22k credit limit! And I get to earn easy points by paying rent!

  • @MarkUnique
    @MarkUnique Жыл бұрын

    For the Bilt card, the "cash redemption" option is 0.55% (not 1%), in the form of future rent payments (no cash-out to bank option). Plus it requires 5 monthly transactions, so if you already have credit cards doing better than 3% dining (e.g. US Bank Altitude Go, Citi Custom Cash), there will be some amount of lost cash back there. Just something to keep in mind when considering the card.

  • @OfficialChadsMoneyMinutes
    @OfficialChadsMoneyMinutes Жыл бұрын

    I am a staunch advocate of spend optimization and this was a great breakdown for newbies to the world of points and miles. I literally hold every single card you mentioned in this video save the Citi Custom Cash. Keep putting the word out the savings and hedge against inflation are super valuabe!

  • @zoamball2022
    @zoamball2022 Жыл бұрын

    I all ready took this strategy. We think the same way, lol. I just did the other preferred blue without the fee. Great video, makes me feel like my choices that am making are the right ones.

  • @MrsFeatherbottom
    @MrsFeatherbottom Жыл бұрын

    Great video, Rob! Here's another setup that might be even simpler and avoids any annual fees (which can be difficult break even on if someone's only spending $40K/year): the Wells Fargo Active Cash + Wells Fargo Autograph. Autograph gets 3% on restaurants, travel, gas, transit, streaming, and cell phone plans, while the Active Cash gets 2% on everything else. Just two cards with a single bank and no annual fee. Only cumbersome thing with the Autograph is I think you have to redeem your points to offset card purchases instead of as a direct statement credit.

  • @briandadude

    @briandadude

    Жыл бұрын

    Forgo the Fargo.

  • @bigislanddriver300

    @bigislanddriver300

    Жыл бұрын

    I think you can also deposit cash into a Wells Fargo account but not other banks.

  • @LogosBKC

    @LogosBKC

    Жыл бұрын

    By your logic why not just do Chase Freedom Flex and Unlimited, and if you want a 3rd card get the Citi Custom Cash? No Annual Fees, better multipliers and all redeemable as cashback.

  • @ccrider8483
    @ccrider8483 Жыл бұрын

    Great video Rob, I guess I tend look at things in reverse because your video shows me how much the little nonessential purchases cost consumers over the long run. Credit cards do encourage us to buy things we probably would not take cash out of our pockets to purchase. One of the worst examples I can think of is the over-priced cup of coffee many have to have daily. Take that amount and calculate the amount generated if invested over 40 years. Yes, I do not drink coffee nor suffer any other addictions with the possible exception of being too frugal which I can live with. It seems many businesses are starting to charge extra for credit card transactions. I am sure the major cards raising their fees has had a lot to do with this and I suppose one could argue these extra charges nullify the advantage of paying by CC.

  • @vevenaneathna
    @vevenaneathna Жыл бұрын

    100$/month is a lot of cash back.... meaning youre spending too much in my opinion (thats 5k/month on credit cards at 2% = 100$/mo). I know its assuming you have a small business, but most do not. really to get this kind of savings/cash back normally, you need to really play the game and sign up for about 3 cards per year, pocket the signup bonus' and build out the best possible 5% cash back setup. most people will not do this.... it takes a lot of time and tanks your credit score the first few years because ur average age of account and credit inquiries goes up. most people will find it much more easy to spend an extra 100$ per month since they have to meet the signup bonus spend requirements. imo, get 1-3 cc's, then once you can audit your monthly expenses for atleast 6 months, and see every single transaction you make, categorize it. then you can responsibly get more credit cards, select the most beneficial ones, and have the ability to track your life style creep over that period of time. if you dont have the self control to audit 6 months of your own finances, it is almost guaranteed you're of the impulsive majority and the game will play you. current setup is WF active cash, chase freedom, discover it, citi custom cash, abound cu plat., US bank cash+, chase freedom unlimited. (all no annual fee) 5% back on gas, grocery, restaurants, utilities, eBay, amazon, and gym/phone/internet/sporting goods ALL YEAR. 3% at pharmacy, 2% all else. I average about 2.5k per year, half from cash back, other half from signup bonus', and only spend about 2k/mo

  • @JoeSouth67
    @JoeSouth67 Жыл бұрын

    Good info.

  • @mattchew4161
    @mattchew4161 Жыл бұрын

    Wells Fargo is simple. 3k in monthly bills = 60 bucks monthly. 720 a year in redemption give or take. Well worth it if used correctly

  • @OroborusFMA
    @OroborusFMA Жыл бұрын

    I combine bank signup bonuses with credit card cash rewards to feed a Fidelity account where I purchase dividend stocks. The goal is to create an additional income stream in retirement.

  • @Omar-et7sb
    @Omar-et7sb Жыл бұрын

    Rob, I definitely would go with the M1 card. The rewards are a minimum of 2%, but sometimes more. But the BEST part is that the rewards go straight to my taxable 4-Fund Portfolio. Easy.

  • @mlj_the_shield
    @mlj_the_shield Жыл бұрын

    Just found the channel and emailed Rob my strategy. This is a fantastic personal finance channel not based on theories but real-world practicality.

  • @nickdoyle-achievefinancial2464
    @nickdoyle-achievefinancial2464 Жыл бұрын

    Sapphire reserve makes the freedom unlimited 2.25% on every purchase (if you redeem for travel or pay yourself back). Also makes restaurants 4.5% and freedom flex 7.5%. Even better you can redeem the ink ultimate rewards bonuses for 50% more. This is the primary setup I run.

  • @rob_berger

    @rob_berger

    Жыл бұрын

    Yep, so long as you use it for travel through Chase.

  • @jtdockendorf
    @jtdockendorf Жыл бұрын

    FYI - if you have an E Trade or Morgan Stanley account you can apply for a cobranded Blue Cash Preferred. Has a few more perks than standard BCP. I have both due to high grocery spend. Great Video!

  • @kevinmcnally3811
    @kevinmcnally3811 Жыл бұрын

    My wife and I use 4 credit cards, but pay them off each and every month. Costco VISA (cash back from Costco and Citi Visa), Fidelity (cash back directly into our investment account), Amazon Prime (5% on Prime products), and Delta (miles and airline status).

  • @OnCashFlow
    @OnCashFlow Жыл бұрын

    I love cc churning for massive $$$ But there is a realistic limit per year for how many cards you can do per year. One of my "permanent" cards is the Walmart cash back card because it's 5% back for online orders at Walmart. I use Walmart+ for delivering all my groceries so it works out great for me.

  • @myutoob2011
    @myutoob2011 Жыл бұрын

    Thanks for confirming my choices of Citi Double Cash and Amex Blue Preferred. Had them both for many years. Also have had a Discover card for 30+ years, 5% on rolling categories every 3 months. Lastly, for those that frequent Target, their Red Card gives you a 5% discount at checkout, no waiting for cash back. Also gets you free shipping.

  • @aaront936
    @aaront936 Жыл бұрын

    I use the chase trifecta but I use the points for known travel expenses.

  • @larryb131
    @larryb131 Жыл бұрын

    I never thought about using these cash back cards as an investment vehicle to add the cash back to your portfolio. Very interesting concept. Your gonna spend that money anyway, and if your investing window is long enough, I can see where this could be big in the long run. Thanks Rob!

  • @hanwagu9967

    @hanwagu9967

    Жыл бұрын

    it's a ruse. you invariably will spend more buy chasing points and cash back, even when you try to convince yourself you are gonna spend that money anyway, that it negates the strategy. There is plenty of research into consumer behavior both in using credit cards and credit card rewards programs.

  • @terryadams1830
    @terryadams1830 Жыл бұрын

    Great video - Thanks Rob! Another card to consider is the Sam's Club card from Synchrony bank. It has no fee (other than Sam's Club membership) and gives you 5% back on gas (on first $6K per year) and 3% back on restaurants.

  • @terryadams1830

    @terryadams1830

    Жыл бұрын

    All the cash back comes as an annual check, or it can be spent as credit at Sam's Club.

  • @vevenaneathna

    @vevenaneathna

    Жыл бұрын

    about cu visa platnium just gives you a flat 5% back on all gas/gas station spending, all year round, and has extra rotating 5% categories every quarter. the cash back comes right off your bill at the end of the month, so you never see it and spend it on something else. only save it. it is one of the least well known card, 0$ annual fee, 15$ once in a lifetime creditunion fee. takes forever to get, basically like applying for a home loan. I got it in WA state, never even been in kentucy lol. rather not sit in line at walmart for hours and be able to use at any place with the cheapest gas. theres a website called gas...buddy... that can find you the best price.

  • @avstars
    @avstars Жыл бұрын

    I would add a 5% rotating category card line Discover IT and chase freedom flex.

  • @mannymac82
    @mannymac82 Жыл бұрын

    I agree that normal Amex cash out rate for points is terrible. But that is one of the reasons I am getting the Amex Charles Schwab Platinum card. That $0.011 cash out rate is very good.

  • @joevelasquez2757
    @joevelasquez2757 Жыл бұрын

    you got my attention

  • @mooring10
    @mooring10 Жыл бұрын

    VISA cars:PenFed 5% for gas, bp 3% for groceries and restaurants, us bank 5% for utilities, and capital one 2% for all else. Pay all in full on auto pay. Challenge is to communicate which card for what to wife.

  • @joy2come119

    @joy2come119

    Жыл бұрын

    Do you have to have an account with Penfed credit union in order to be eligible?

  • @markmusto2527
    @markmusto2527 Жыл бұрын

    Sorry if I missed it,Rob, but how often do you recommend redeeming your points? Monthly? Yearly? Great stuff!

  • @Bonez1999
    @Bonez1999 Жыл бұрын

    The wife & I use the Citi Custom Cash card x2 (one card each), and rotate the categories against the 5% back categories for the Discover It & Chase Freedom. This pretty much makes almost every category we spend money on 5% back. For example, this quarter: Discover It - 5% on Digital Wallet purchases (Android/Apple Pay) Chase Freedom - 5% on Paypal/WalMart purchases My Custom Cash - 5% on gas Her Custom Cash - 5% on groceries We try to use Apple/Android/Paypal this quarter whenever we go shopping for anything else... The Custom Cash cards are like a filler for the other cards and what they're 5% back aren't hitting.

  • @GDUBLEY
    @GDUBLEY Жыл бұрын

    Im invested in BofA cards. With their preferred rewards adding multipliers you can get 3.5% on all purchases. They also have a higher % category card to go alongside it. Granted you would need at least $100k invested with BofA/Merril to get the max benefit. But even at lesser tiers you can get at least 2.25%

  • @canyonoverlook9937

    @canyonoverlook9937

    Жыл бұрын

    I have 2 BOA cards. If you have 100,000 in Merril Lynch you can get 5.25 on the Cash reward card up to 2500.00 per quarter on travel. Or you can use the 3 percent for online, dining, gas. It's simple and cash back.

  • @rob_berger

    @rob_berger

    Жыл бұрын

    I carry one of their cards, too, but as you noted, you need a lot of money at BofA/Merrill.

  • @canyonoverlook9937

    @canyonoverlook9937

    Жыл бұрын

    @@rob_berger Why not just move 100,000 over in kind from your Vanguard total stock market fund and let it sit there. That is what I am doing. you can get 1000.00 for each 250.000 you move over per account-ira, roth, brokerage because you are a current customer. You can get 400.00 if it is just 100,000 or 250.00 for non-current customers. You have to have a BOA checking for Preferred Rewards but you can 100.00 to open or more than that as a current customer for a certain deposit.

  • @canyonoverlook9937

    @canyonoverlook9937

    Жыл бұрын

    You can also get their 1.5 card for everything and then with the multiplier for 100,000 you would get 2.625 on everything with no annual fee or you could get the Premium Rewards card with a 95.00 annual fee but a 100.00 travel incidental credit. I don't know how much you travel. That has 2 percent dining and travel plus 1.5 on everything.

  • @TheMuljo
    @TheMuljo Жыл бұрын

    Instead of the Unlimited, I'd go with the Freedom Flex since you get an additional 5% in rotating categories. IMO that's better than the 1.5% flat rate with the Unlimited which you wouldn't be using since you have a 2% card.

  • @poolking25

    @poolking25

    Жыл бұрын

    only downside is a cap of $1500 per quarter with the freedoms

  • @poolking25

    @poolking25

    Жыл бұрын

    freedoms unlimited would give you 3x dining and drugstores, 5x on travel for chase portal so these are great spending options for the specific categories only. Freedom flex is fine as well, I use that as well

  • @silver6054

    @silver6054

    Жыл бұрын

    @@poolking25 If you aren't going to use the 1.5points (as he isn't doing transferring) the Unlimited has no advantage over the Flex, and the Flex 5x categories can be useful

  • @richardcarlin1332
    @richardcarlin1332 Жыл бұрын

    Credit card for rent is cool. The only issue is my landlord won't allow credit cards. When I bought a car, I put $3000 on the card (the maximum amount) and got $30 cash back.

  • @rob_berger

    @rob_berger

    Жыл бұрын

    I should have mentioned that the card works even if your landlord only accepts checks. From the Wells Fargo website: "Even if your property only accepts checks, you can still pay with your credit card through the Bilt app and we’ll send a check on your behalf."

  • @Tattooclownfish71
    @Tattooclownfish712 ай бұрын

    Thanks I think 🤔 figured out how to pay my big bills with credit and I get the rewards from it again thank u not easy trying to save 40 grand I need 30 more 😂😂😂😂😂😱😱😱😱

  • @aperson1181
    @aperson1181 Жыл бұрын

    Rob the $30k that you mentioned at the end of the video, is this from the rewards accumulated over time, how long it took you?

  • @sullivan1ist
    @sullivan1ist Жыл бұрын

    Would you throw any capital one savor cards in there?

  • @richmurphy8144
    @richmurphy8144 Жыл бұрын

    Nice video Rob, as always. Where did you get the 9% APY in the first calculator you showed here? Thanks!

  • @rob_berger

    @rob_berger

    Жыл бұрын

    Just an estimate. An 80/20 portfolio has done better than that over the last 45 years. Of course, we don't know the future.

  • @taco5467
    @taco5467 Жыл бұрын

    Quick question how do you get the apy to 9 percent ? In the beginning of the video

  • @sharaf.6333
    @sharaf.63334 ай бұрын

    How often do you cash out the credit card rewards to invest?

  • @70qq
    @70qq Жыл бұрын

    Ty

  • @jomo4976
    @jomo4976 Жыл бұрын

    Money is fungible - it makes no sense to separate out cash back from credit cards as a category separate from money saved (or earned) in other ways

  • @HB-yq8gy
    @HB-yq8gy Жыл бұрын

    Rob never mentioned Costco visa cash back. $60 annual with Costco gold 2 membership.

  • @zekeboz5533
    @zekeboz5533 Жыл бұрын

    Nice recap but I think the challenge is that it looks like these cards have a max limit on their cash back. For a family that limit is somewhat low, 6k on groceries... we spend that much in 4 or 5 months. Unless you start having separate cards (not added to the account) for each parental unit. I think a review on cards that have unlimited cash back would be better otherwise you will have to juggle cards in a single year. maybe wells forgo or BA .

  • @jtdockendorf

    @jtdockendorf

    Жыл бұрын

    If you have an E trade or Morgan Stanley account you can get a second Blue Cash Preferred. I use this set up because I have high grocery spend as well.

  • @rob_berger

    @rob_berger

    Жыл бұрын

    Most don't have a cap, but you are right, Amex Blue Cash does. The best grocery card beyond BCP will depend on where you shop for groceries.

  • @frankekpu1270
    @frankekpu1270 Жыл бұрын

    How do i create an account on Cashback

  • @taco5467
    @taco5467 Жыл бұрын

    How do you get 9 apy ?

  • @jtdockendorf
    @jtdockendorf Жыл бұрын

    Is anyone using a Fidelity Rewards straight into a Fidelity Go account? I was curious how streamlined the process is/could be, or if you had to manually do the investing yourself.

  • @NotTheRealJoker

    @NotTheRealJoker

    Жыл бұрын

    I use a similar strategy with Charles Schwab. I use the Schwab Investor Card by AMEX which automatically deposits my 1.5% cash back into my Schwab Intelligent Portfolio. The process is streamlined and the algorithm buys ETFs automatically.

  • @jtdockendorf

    @jtdockendorf

    Жыл бұрын

    @@NotTheRealJoker Thank you for the info. I have a Schwab Account, just not an Intelligent Portfolio at the moment.

  • @mmactc
    @mmactc Жыл бұрын

    @Rob Berger Rob what about the Fidelity 2% back credit card if you open an account with them you could easily invest with their excellent investment products?

  • @markjoseph2801

    @markjoseph2801

    Жыл бұрын

    I thought the same. But the Fid card has a minimum before they will transfer the money to your account. It's a game. Check again to see if it changed. You have to hand it to the Chase card with Amazon. If you earn $10 they immediately credit. Good luck

  • @mmactc

    @mmactc

    Жыл бұрын

    Perhaps you’re right about that. But I believe if you put it into say a Fidelity cash management account or a brokerage account it goes in immediately which would allow you to invest in ETF or stocks this would be doing what Rob suggested. Naturally you’d have to invest with Fidelity but I think it could simplify things as long as you are ok with Fidelity.

  • @rob_berger

    @rob_berger

    Жыл бұрын

    Yes, it's a great option.

  • @hulenbryant5637
    @hulenbryant5637 Жыл бұрын

    Not sure if it’s every card, but Bank of America has a 3% on gas charges.

  • @larryTX415
    @larryTX415 Жыл бұрын

    Dave Ramsey has left the chat.

  • @trapcracker
    @trapcracker Жыл бұрын

    Rob, why Citi Double Cash over the Fidelity Visa? It is 2% cash back immediately and it automatically goes into your brokerage to invest. It seems that’s the goal with this video. Thanks!

  • @rob_berger

    @rob_berger

    Жыл бұрын

    They are both great. Citi Double is paying a signup bonus. Not sure about Fidelity. Also, Fidelity is ideal if you have a Fidelity account. But you don't need it to invest your rewards. I just do a transfer once a month.

  • @InBrz
    @InBrz20 күн бұрын

    THE PROBLEM with the AMEX card is that they DO NOT INCLUDE food club stores like Walmart, Sam's, Costco etc in their 5% discount 1% with BILT isn't even worth my time, it's a joke

  • @rapfreak7797
    @rapfreak7797 Жыл бұрын

    I wonder how long it will be before the government starts considering credit card rewards as ordinary income.

  • @zekeboz5533

    @zekeboz5533

    Жыл бұрын

    Shhhh…. 🤫

  • @aaront936

    @aaront936

    Жыл бұрын

    They do consider referral bonuses as income.

  • @thoryan3057
    @thoryan3057 Жыл бұрын

    I currently have just one card that gives me 1.5% on everything. If I applied for a second card in the near future, would Citi Double Cash be better or would Citi Custom Cash be better? Citi Custom Cash pays 5% on up to $500 in your top spending category and 1% on everything else. My top spending category is usually groceries, which is over half of my credit card usage but usually less than $500/month. I want to get the Citi Double Cash *eventually* in my lifetime but want to spread out when I get each new card. I feel like the 5% on up to $500/month on groceries would payoff more than an extra 0.5% on an everything card.

  • @rapfreak7797

    @rapfreak7797

    Жыл бұрын

    I have the custom cash card just for groceries, it’s a great card.

  • @wdeemarwdeemar8739
    @wdeemarwdeemar8739 Жыл бұрын

    I will take 800 per year… happily.

  • @unclemiketrader
    @unclemiketrader Жыл бұрын

    With american exprees card are groceries at r walmart considered a supermarket for the 6% reward?

  • @EwaRuiz

    @EwaRuiz

    Жыл бұрын

    No, but you should look into the new U.S bank Shoppers Card for Walmart 🔥

  • @InBrz

    @InBrz

    20 күн бұрын

    Capital One for Walmart

  • @randolphh8005
    @randolphh8005 Жыл бұрын

    Credit cards are only good for people that are VERY disciplined, detail oriented, and financially solvent. And be honest with yourself! Otherwise you will pay fees, and spend too much. After all that is how the CC companies make money. One late payment costs big bucks! Lots of purchases easily put you over budget without realizing it. The interest rates are astounding! We now use them correctly, (although still have to worry about overspending)but not so when we were young. I have elderly parents that still carry balances! The psychology of the free stuff is created to suck people in, and confirmation bias allows us to remember the “freebies” and “forget” the fees or the late payment, or “I will pay it off next month”

  • @InBrz

    @InBrz

    20 күн бұрын

    EXACTLY, WHO wants to spend all their spare time dealing with that bullshit ? NOT ME, 3-5 % is NOTHING, MY TIME IS WORTH MORE !

  • @juanserrano3297
    @juanserrano3297 Жыл бұрын

    Put the money in an M1 finance account.

  • @JoeSouth67
    @JoeSouth67 Жыл бұрын

    Dave Ramsey had his 15 minutes. He is a rude know it all. He doesnt listen.

  • @dylanyoung7315
    @dylanyoung7315 Жыл бұрын

    Oh 😊

  • @gregarnet
    @gregarnet Жыл бұрын

    9% yield is super difficult to get. Maybe 5% average.

  • @-mr3puttz-310
    @-mr3puttz-310 Жыл бұрын

    Walmart has a 5% back for Walmart buys

  • @rob_berger

    @rob_berger

    Жыл бұрын

    A good card for Walmart shoppers. Target, the warehouse clubs and Amazon each have similar cards.

  • @okrajoe
    @okrajoe Жыл бұрын

    Aha, over 45 years!

  • @rob_berger

    @rob_berger

    Жыл бұрын

    Your mileage may vary.

  • @robertw477
    @robertw477 Жыл бұрын

    I actually know a better one that pays 3% cash back on everything and 5% on groceries and fitness. Unlimited BTW.

  • @unclemiketrader

    @unclemiketrader

    Жыл бұрын

    What is that one?

  • @adamduvick

    @adamduvick

    Жыл бұрын

    You should tell us what this card is unless you’re trying to just make everyone jealous of your perks.

  • @claricehirata3303

    @claricehirata3303

    Жыл бұрын

    Is there an annual fee?

  • @howardfriedman7077
    @howardfriedman7077 Жыл бұрын

    Gee, didn't Dave Ramsey say all credit cards are bad???

  • @thehylander266
    @thehylander266 Жыл бұрын

    Capital One savior one has 3% cash back and no annual fees.

  • @briandadude

    @briandadude

    Жыл бұрын

    Annual Fee $95

  • @thehylander266

    @thehylander266

    Жыл бұрын

    @@briandadude Hmm. Weird. Mine doesn’t charge one yearly. Maybe it’s something new they added to the newer ones. Oh well. I get over $150-$300 per month back so still well worth it to me.

  • @jesslai8363

    @jesslai8363

    Жыл бұрын

    @@briandadude that’s the savor. Savor one is the free one

  • @briandadude

    @briandadude

    Жыл бұрын

    You’re right. Savor one only gets 3% on certain categories

  • @scott1441
    @scott1441 Жыл бұрын

    You don’t mention the fact that using a credit card at a restaurant and a gas station, for example, cost more (added surcharges) than when paying in cash. I will only use a credit card if there is no other alternative. Credit cards users will run up more debt because there is no initial feeling of a monetary loss when using a plastic card compared to cash paying individuals .

  • @adamduvick

    @adamduvick

    Жыл бұрын

    These added surcharges for credit cards is definitely something to be considered, but not every gas station or restaurant has those (especially in my area). As for your second point, they is likely true for immature spenders. But once you learn to pay off the cards regularly & in full, it becomes a non-issue. And even if I wasn’t using a credit card, I would still be using a debit card instead of cash 99% of the time. It’s much more convenient.

  • @aaront936

    @aaront936

    Жыл бұрын

    Your body can not differentiate between your debit card and your credit card.

  • @hanwagu9967

    @hanwagu9967

    Жыл бұрын

    @@adamduvick those who market a fee, are just trying to get you to buy from them. In reality, all businesses account for the transaction fee in one way or another then pass on the costs to the customer. Hogwash about immature spenders. The psychology in using credit cards is well researched, as is the whole reward incentive system based on gambling. By the simple fact you say once you learn to pay off credit cards in full is actually the wrong perspective. It is about spending not about paying the card in full. Credit cards are designed to get you to spend more.

  • @taserpulse
    @taserpulse Жыл бұрын

    Looks like you tried very hard not to say "financial planning" again this time.

  • @mariusfacktor3597
    @mariusfacktor3597 Жыл бұрын

    It's a shame that credit cards made it so that merchants need to charge ~3% more for everything. People who get credit card rewards don't mind but people who don't qualify for credit cards are made to pay more. It's messed up.

  • @stevedice5963
    @stevedice5963 Жыл бұрын

    The Charles Schwab amex trifecta is the best way to cash out amex points. You get a higher rate cashing out to the brokerage account than just using points to pay off your credit balance