My Best Cashback Scheme to Date

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How’s it going everybody this is beat the bush today i’m going to talk about some advanced tips and tricks i use with my credit cards in order to get the most cash back but in order to do this i’m gonna head back to my whiteboard and do some drawings on it so let’s head over there so here we are back at the whiteboard again now i want to make this video very

Generalized so that everyone can take advantage of the tips and tricks even if you cannot get certain credit cards now i want to talk about a credit card framework every single person has a different set of credit cards right some people have better credit cards therefore they’re able to get better cash back credit cards and some people even if they have the same

Credit score they’re not guaranteed to have exactly the same mix of credit cards some people might be really into travel credit cards all the people might be in the cash back so the total idea here is with whatever that you already have you want to map out every single category that you have your best cash back percentage in in this tournament i want to list out

What i have in terms of cash back percentage based on the category first just to give you an idea now here’s a rough list it does not include every single little category there is because there is definitely more in my wallet right now i want to emphasize that for example the sears card it’s really good for me but you can no longer get this card so the cashback

Percentage that you get personally it’s gonna differ a little bit and most likely it’s not gonna be as good as 10% it might be hovering around 5% using a combination of the chase freedom card as well as the discover card now right here right now this month i’m gonna get 10% off cashback on gas groceries restaurant as long as i spend more than i think $800 usually

What i do is i spend what i will and at the end of the month if i see if i’m short and i usually am then i would go to the grocery store and buy the rest of the balance whatever balance that they require in order for me to get the minimum cash back because there’s a minimum cutoff here then let’s say i’m gonna spend another four hundred dollars or something i’ll buy

An amazon gift card at the grocery store and then yeah it’s gonna be $400 sitting around but i’ll stick that in my amazon gift card balance then right now i’m getting three percent on travel on the bb a v compass car i’m getting 1.5% cash back on international purchases i use this because there’s no foreign transaction fee is called the capital one quicksilver car

And then basically everything else that’s not in these categories i would spend it on the citibank double car which i get 2% now this is not completely true there’s also sometimes these 5% categories in the discover order for chase freedom there might be other categories that i’m using but i don’t want to completely concentrate on which cards has the most percentage

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Because there’s something more important i want to cover today now i want you guys to take a look at these 7 bills over here and see what the similarities are first i got gas electric water trash health insurance car insurance irs taxes and property taxes the stuff in the first column does not have a fee when you use your credit card the stuff on the second column

Does have a fee sometimes it’s like 1.5% or something so therefore if you use your credit card to pay those things you’re losing out on 1.5% in fees now a lot of times people pay these bills on the first column with their checking account now you can also do something different where if you look at all the bills that you ever pay just look at every single outflow

That you have and see if they accept a credit card with no fee if they do then there is something interesting that you can do because you can essentially use all these things as a sort of like a buffer zone in order to turn credit cards on top of that a lot of times these utilities will actually allow you to prepay many many months in advance for example right

Now on my gas electric water and trash i have like several hundred dollars that’s just stored up in there why do i have this is because i was churning a credit card and i needed to spend like some $1,500 and i’m like i don’t have anything to buy i don’t need to buy a lot of groceries i don’t need to buy gadget gizmos or anything so therefore i prepay into these

Things my recommendation is the most you should prepay is up to about six months of utility because if you pay any more than that you’re essentially losing in terms of depreciation of your money your money is gonna lose its value about 2 or 3 percent so it’s probable really better that you only pay up to about six months worth and then the rest of the money you

Can stick this in your savings account learn interests and stuff because if you put money in these things they don’t give you interest so you should limit the amount that you put in these utilities now there is yet another interesting aspect about this because sometimes you might be buying a lot of visa gift cards you might have some visa gift cards that’s just

Dangling around that’s really really annoying i know it bothers me a lot when i stick it in my wallet it’s really hard for me to use because as in the previous thing you see i get a lot of cash back from wherever i need to go 10% cash back gas groceries restaurants then without those where else can i spend money right it becomes like a very hard thing i don’t go

To like in an electronic store i know i was able to use it when buying tickets i was able to use it on an online store that did not have gift cards to be purchased at a grocery store you see how complicated it can get so knowing that you can do this with these utilities if you have some visa gift card then once you get it you can go okay instead of bringing it to

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The electronic store and blowing it all off on a brand new portable camera or something you can just go okay yeah you know i got this brand-new gift card $50 $100 $200 whatever amount it is you just shove it in one of these utilities let it sit there then it’s just sort of acts like a bank account really because once you put that money in there instead of these

Utilities withdrawing from your bank account it’s worth drawing from that gift card so therefore when you do this you’re not losing out on the cash back percentage you would have gotten if you use those cash back credit cards instead because you know every single opportunity that you go to a gas groceries or a restaurant you can get 5% cash back in my case i get

10% cash back if you are not using those credit cards then you’re not getting those tens percent cash back if you use a gift card then you’re losing out on that 5% you spend $100 at a restaurant it could have cost you only $90 but instead you use that $100 gift card then you essentially spent $100 instead so instead you put it in here $100 then it really means

$100 now what’s the alternative to this is you can theoretically use a credit card to pay all these but most the time you do not get such a good cash back amount in very very special circumstances for example the u.s. bank cash plus card it will have a 5% off cash back on utility so you know it will cross those out and citibank double you can pay these guys 2%

So what you do really depends on what you have at your disposal in terms of cash back you really have to map everything out and see what the opportunity costs are now a subscriber showed me something really cool called vitacost which is the place that allows you to buy low-cost health foods including beans spices and things by the cos did not sponsor this video

I’m just mentioning it and when you compare to the amazon prices it is lower on vitacost on top of using the vita costing i used the honey chrome extension on top of that this chrome extension allows me to automatically check a lot of different coupon codes if you’re interested in this honeycomb extension you can use my referral link down in the video description

Below if you use my referral link you will get five dollar cash back the first time you use that thing i got to mention one more thing when i was talking about the international fees when i am out and about internationally i will use the capital one quick silver card because that has no foreign transaction fee and i still get 1.5% cash back if i were to use one of

These fancy cards and stuff i might get a foreign transaction fee that might completely wipe out whatever cashback that i get and the fees that they charge is substantial if there is a foreign transaction fee so sometimes when you’re going international you also want to withdraw some money from an atm is you guys the subscribers that are commenting on my videos

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And recommending me stuff and i am actually going out there trying these things and i go oh yeah you know what it does work many of you have asked me to try the charles schwab investor savings account because this account you can go around everywhere internationally and use any atm that you want and there will be no atm fee no transaction fees before i’ve been

Completely using other cards and i think i paid you know in aggregate probably 2030 dollars worth of fees or probably even more got my card and everything i even tested it out to make sure that i can withdraw 20 bucks from just some random atm to see that it does not charge me a fee after all so you guys are interested it’s called charles investor checking account

Does require you to have an equities account with them already it’s worth it but the way to play this is only put enough money in there for the amount that you think you’re going to need while you’re international because the interest rate on this is only about 0.5% apy the best one that you should use for a savings account if you’re just sticking cash in there for

Me personally i feel like the goldman sachs marcus account is the best right now right now it’s october 2018 1.9 5% apy on that account no strings attached not like some accounts where you got to have a debit card and use it 30 times a month or something or like have a credit card associated with it and spend at least five hundred dollars every single month there

Are no requirements like that which is what i personally like i don’t want to keep on doing work every single month and now trying to chase it so that it doesn’t charge me a fee i want to be able to do nothing okay when i open these accounts i want to do nothing have it not charge me anything and and not need to actively make sure i do not get charged a monthly

Fee so i hope all this was interesting for you this is like the state of the art method here you know i’ve been whittling at this and trying to improve it left and right here there and right now you know you can probably improve on this some more and i am and probably gonna make new videos going forward so thanks for watching this video i hope you guys enjoyed it

And sort of pulled a little bit of information here and there and you can use it in your own credit card cash back methods don’t forget to give me a like on this video comment down below let me know if this helps you remember that i do have the referral links down in the video description below if you’re interested in supporting this channel don’t forget to push

That subscribe button and ring that bell icon thanks for watching

Transcribed from video
My Best Cashback Scheme to Date By BeatTheBush

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