CREDIT CARD TIPS from Motife (Cashback/rewards on your CC)

[Motife43]

Just wanna break up the depressing, idiotic and weirdo threads in TLR and put yall on some financial game

It's nothin groundbreaking or rare, but I've shifted my thinking on using credit cards and now I put everything (other than rent/car payment) on credit.

If you aren't getting rewards (hotel stays, flight miles, etc) or cashback on your credit card. Find one that offers it! Credit cards incentivize spending.

• MOST IMPORTANT: STAY DISCIPLINED. If you couldn't cover the expense with cash don't use your credit card. That's how people get into debt "oh I have a $5,000 limit, I can pay this $1500 off later" and before you know it you could run it up. This a good philosophy to have even with 0% interest
  
• Along the lines of interest, if your card is charging you interest, find one with an introductory 0% interest (usually 12-24 months). It'll give you the cushion if you do have to carry a balance month to month
• IThe Amex thread on here has been helpful for me: Big Boy Club……Amex Gold & Platinum Discussion I also recommend the credit card and churning subreddits

 

[RoidJonesJr]

I have Chase Freedom Unlimited. I get back about $25-40 dollars a month. That's nothing but it adds up overtime.

 

[beenz]

I have Chase Freedom Unlimited. I get back about $25-40 dollars a month. That's nothing but it adds up overtime.

I made like $1200 in free credit card cash in 2012. I use them for EVERYTHING other than paying the mortgage

 

[Motife43]

Another thing most cards give you a bonus for spending a certain amount in your first 3 months (Ex. $300 for spending $3k)

It sounds small and inconsequential, but if it's $3k you were gonna spend anyways, it's a no brainer to be get a "free" $300

I helped my mom get a new card and told her I'll put a large personal purchase on the card to get her the bonus

 

[sosaa]

BOA gives folks perks over certain money amounts and one of this is credit card bonuses. on my card you also get to select a category and earn 3% on putchases in that category. with the perk money + choice i make 5.25% back on select purchases. can be even more if i make a purchase thru sumn like rakuten or topcashback.

in fact, i just bought a new laptop from bb, was offered 5% from topcashback and with my credit card it was more than 10% back. shyt A1

 

[Wiseborn]

Another thing most cards give you a bonus for spending a certain amount in your first 3 months (Ex. $300 for spending $3k)

It sounds small and inconsequential, but if it's $3k you were gonna spend anyways, it's a no brainer to be get a "free" $300

I helped my mom get a new card and told her I'll put a large personal purchase on the card to get her the bonus

exactly, If you're planning to make a big purchase (or a series of purchases) and you planned to pay it back in a month Then signing up for a card makes sense.

 

[Wiseborn]

The other part of the game is credit card debt transferiing. You can take debt from one credit card to another. If you credit score is on point you can get a low interest card and transfer debt to that card some cards have a zero interest first year APR so you essentially gave yourself an interest free loan.

PayPal has a credit card with a six month zero interest APR.

 

[Wiseborn]

Just wanna break up the depressing, idiotic and weirdo threads in TLR and put yall on some financial game

It's nothin groundbreaking or rare, but I've shifted my thinking on using credit cards and now I put everything (other than rent/car payment) on credit.

If you aren't getting rewards (hotel stays, flight miles, etc) or cashback on your credit card. Find one that offers it! Credit cards incentivize spending.

• MOST IMPORTANT: STAY DISCIPLINED. If you couldn't cover the expense with cash don't use your credit card. That's how people get into debt "oh I have a $5,000 limit, I can pay this $1500 off later" and before you know it you could run it up. This a good philosophy to have even with 0% interest
  
• Along the lines of interest, if your card is charging you interest, find one with an introductory 0% interest (usually 12-24 months). It'll give you the cushion if you do have to carry a balance month to month
• IThe Amex thread on here has been helpful for me: Big Boy Club……Amex Gold & Platinum Discussion I also recommend the credit card and churning subreddits

When I get back to the states I'm gonna get into the AMEX suite. The Chase suite is starting to lower the travel benefits.

 

[beenz]

Another thing most cards give you a bonus for spending a certain amount in your first 3 months (Ex. $300 for spending $3k)

It sounds small and inconsequential, but if it's $3k you were gonna spend anyways, it's a no brainer to be get a "free" $300

I helped my mom get a new card and told her I'll put a large personal purchase on the card to get her the bonus

I've had two cards that said they'd give u $200 if u spend $1000 in the first 3 months. shyt is super easy. one time I did the majority of that paying my car insurance.

 

[Originalman]

I made like $1200 in free credit card cash in 2012. I use them for EVERYTHING other than paying the mortgage

Man them credit cards cash back, coinbase card crypto back, lolli bitcoin back and USDC staking (on apps like Voyager) is some crazy passive income.

I am talking crazy amounts back every month. Its crazy how much you can make just by doing nothing.

 

[cyndaquil]

Combine that with acorns round ups

 

[DropTopDoc]

Yeah i do that, i use my cc as my every day card and pay it off after two weeks

 

[NO-BadAzz]

I have Chase Freedom Unlimited. I get back about $25-40 dollars a month. That's nothing but it adds up overtime.

How does the "cash back" work with this card? I have this card also

1. I make purchases with the card

2. I make my payments on time, before the monthly statement is due.

3. The next month I see the rewards/points tally

When you say that you receive "cash back" are you speaking in terms of "reward points"? which can be use to by flight tickets and pay for hotels?

 

[NO-BadAzz]

Man them credit cards cash back, coinbase card crypto back, lolli bitcoin back and USDC staking (on apps like Voyager) is some crazy passive income.

I am talking crazy amounts back every month. Its crazy how much you can make just by doing nothing.

Could you elaborate? or is there a thread on this information.

How does Voyager work? And Acorn

 

[beenz]

Man them credit cards cash back, coinbase card crypto back, lolli bitcoin back and USDC staking (on apps like Voyager) is some crazy passive income.

I am talking crazy amounts back every month. Its crazy how much you can make just by doing nothing.

when it comes to credit cards, I'm buying shyt that I already have cash on hand to purchase. I have never paid a cent in interest ever. so they make no money with me as a customer.