Anybody making Bank with Credit Cards?

Discussion in 'Lets talk Business!' started by rick imby, May 13, 2018.

  1. rick imby
    rick imby

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    I usually get one new credit card a year. I just cannot pass up the 50,000 or 80,000 free points offered.

    I work the system hard with multiple points cards.

    My favorites

    Chase Freedom Unlimited 1.5 points on everything
    Chase United

    Just got a Discover It Miles card with 1.5 on everything and bonus double miles at the end of the year. 3% on everything this year is awesome. I spend about 20k per month on my cards.
  2. Chris A
    Chris A

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    Just a us bank call rewards card for the business. We(wife) have never been disciplined enough to have personal cards. It turns into a couple k a year in rewards
  3. Doug Cox
    Doug Cox

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    I have the Chase United Mileage Plus card. I have it for airline tickets only. Flew to Hawaii this winter on it. Just paid 20K on it yesterday.
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  4. Nomad74
    Nomad74

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    I use wic vouchers. I love government cheese.
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  5. rick imby
    rick imby

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    So the rest of us tax paining fools are subsidizing those Ugly socks?...
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  6. rick imby
    rick imby

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    I generate too many points to use only for airline miles---- I personally value the Chase points at value between 1.5 and 2 cents per point. The great thing about the United points is the simple United interface for booking flights. It is the best airline card for many locations (as long as you have United local service).

    Doug if you get the Chase Freedom Unlimited card you would get 1.5 points per dollar spent. Then when you build up a bunch of points on that card you can convert them if you get either the Chase Ink or the Chase Saphire card. (you will get 50k or more points for getting a Ink or Saphire card.).
  7. scottw
    scottw

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    Personal cards only; Discover for cash back. I like the United card but Delta and American have more service locally. I rotate between the three to get the bonus miles when you sign-up.
  8. steve_64
    steve_64

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    I've never figured out how to use my rewards. They keep expiring but I really don't care.
  9. TomKing
    TomKing

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    I never met a millionaire who said he made his money with credit card rebates.
  10. Chris A
    Chris A

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    My multimillionaire Uncle certainly didn't make his money from cards but he uses the shit outta them, I swear he's signed up for every hotel, rental car and airline points program, he ends up giving a bunch away which is cool
  11. rick imby
    rick imby

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    I'm not saying I made my millions with rebates but one of my best friends (also a multi millionaire) and I have made in the tens of thousands of --free money--by setting up systems to get credit card points. Many Carpet Cleaners have a few minutes of down time during the day. Applying for a new credit card per year? 10-15 minutes. 80,000 points (between $800 and $2400 depending on how you use the points) for 15 minutes is a pretty good return on time.

    Another point. If you use personal cards for business purchases and are reimbursed by your company the points are not considered income by the IRS---according to my accountant---over the last 20 years I have made between 300,000 and 1,200,000 points per year for personal use.

    Getting paid over and over after setting up a very simple system is how many millionaires become....
  12. steve_64
    steve_64

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    So cheating the IRS is a get rich scheme?

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