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How’s it going everybody this is beat the bush today i’m gonna cover credit card training and how you can get 1 250 on a 4 000 spending i know there are some people out there not very much into this credit card scene they don’t like churning they don’t like to get very many credit cards at all because sometimes it can plunge you into debt if you are not careful
With it the way you should be using these credit cards is to get it have the money in the bank to pay it off the four thousand dollars whatever you need to buy with it and then with that you get your 1 250 worth of points or cash back the credit card in question today is chase sapphire preferred now i normally don’t recommend any of these annual fee cards but in
This case it’s actually a really really good deal spend four thousand dollars within three months and then you’re gonna get one hundred thousand points worth about one thousand two hundred fifty dollars on travel but there is a way for you to extract this money out and sort of turn into cash and then you can use it for whatever which way that you want there is a 95
Annual fee so what i personally did i already have this card is i get it and then i mark on my calendar exactly one year away from when i actually signed up for it and then i cancel it right before the one year is up so that i don’t pay yet another 95 worth of annual fees keep in mind that if you do cancel it you need to spend all the points that’s in your account
During this pandemic they have all these really great offers with ways you can spend these points there’s this thing called pay yourself back using ultimate rewards points and they’re going to give you another 25 bonus on top of this so the category that you can spend is dining grocery stores home improvement stores and select charities all these categories is
Normally not there if you have chase ultimate rewards points with a different credit card you may not get this 25 bonus so it needs to be this sapphire preferred card to get this now how do you exactly transform your points into cash well not exactly cash but you can actually transform it into visa gift cards because there is a grocery store category a light bulb
Went off in my head and i’m like hey if it’s a grocery store why don’t i get a visa gift card over there of course you have to pay 5.95 cents fee for a 500 gift card so it’s just a just a small amount of fee but this visa gift card essentially allows you to spend on any category that you want of course if you have places where you can spend on dining or groceries
Go ahead spend that first because then you don’t have to pay a fee but for me using a visa gift card is actually very versatile you can use it on any of the online shopping stores you can go back and use it for groceries if you really want you can use it for restaurants although with a visa gift card you probably don’t want to hand the gift card to anybody because
They might be able to take down your credit card number and the back three-digit number as well so whenever you use your gift card try to just only swipe it uh by hand yourself and don’t give it to a server or anything i’ve also noticed for visa gift card if you want the most portability get one that is issued by made up banks they have all these different visa
Gift cards that is issued by various different companies and i’ve noticed that sometimes not all online utilities will accept these cards so check it out here i’ve already spent a little bit at the grocery store and you get 25 percent more point value so essentially if it’s 1 000 points that you have to pay on ten dollars you only need to pay 750 points if you
Guys are interested in this credit card check out my referral link down in the video description below and you can directly help out this channel if you want keep in mind that for this chase credit card in order to get it you have to have fairly good credit score and it is a chase credit card so the 524 rule applies you have to get less than five credit cards
Within the past 24 months if you got five or more then they’re automatically not going to approve you for this credit card so make sure you stay under this threshold you can go to various credit cards and check your credit score and how many credit cards you apply to in the past 24 months do this before you actually apply so if you break down the numbers 100 000
Points it means you can get something at the grocery store for 1 33 and then you have to apply 100 000 points to that and so the value you essentially get is 1 33. subtract the annual fee 95 subtract maybe three six dollar things because you have to pay the transaction fee for each visa gift card and each visa gift card can only go up to 500 you’re looking at
Something like 30 discount on everything that you buy now the way to play this is you have 4 000 to spend this is a lot of money for myself my entire burn rate it’s not this much every single month but it might reach close to a thousand dollars so you just use this credit card for everything under the sun like your utilities your groceries you go out for whatever
You know and anytime they would allow you to use a credit card use it keep on filling it up make sure that you reach that four thousand dollar threshold and if you want to get this 25 percent bonus on groceries make sure you do all this before september 30th because that’s when it expires and then you can you know this little trick you can essentially get a lot
Of visa gift card out of it and then essentially spend it on every which way that you want and you don’t have to specifically stick to this particular category of dining grocery home improvement charities one more interesting tidbit over here is if you decide to buy something at the grocery you don’t actually have to redeem all of the points for whatever you buy
Let’s say you buy a 500 gift card and you only have enough points for let’s say 400 or so you can still buy the 500 gift card and you can apply the rest of your points that you do have onto that and it’ll essentially reduce that particular line item that you purchase at the grocery store by that much so you don’t actually have to you know look at how many points
That you have and spend exactly that amount you can go over a little bit and it would be okay but realistically if you’re buying a gift card you can easily tell the cashier you’re buying some smaller amount 400 gift card and you know it’ll work out perfectly what doesn’t work out perfectly is let’s say you went to a restaurant and it’s a hundred dollars let’s say
And you only have eighty dollars worth of points you might worry that oh okay that’s not going to cancel out you cannot pay the entire line item of that restaurant bill but this point system allows you to uh redeem partially to particular build so thanks for watching this video i hope you guys enjoyed this little rundown on how to spend your points wisely on chase
Sapphire preferred check out my referral link for this credit card down in the video description below and like and subscribe for more thanks for watching you
Transcribed from video
Easy $1250 from Chase Sapphire Preferred By BeatTheBush