Watch Me Increase My Networth on Camera by 78

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How’s it going everybody this is beat the bush today i’m going to increase my net worth by 478 dollars right here live on camera this is basically done by me signing up for a brand new credit card that has a high signup bonus and then me using plastic to use that card to pay my mortgage plastic does have a 2.5 percent fee however after the cashback bonus and me

Subtracting out the fee i’m still gaining about four hundred seventy eighty dollars for this process i purposely sign up for this capital one spark card this is a business credit card it has a four thousand five hundred dollar spend requirement and you get five hundred dollar cash back on top of this it also has a two percent cash back on everything that you spend

So spending four thousand five hundred dollars means i would get yet another 90 dollars on top of the five hundred dollars i get back paying four thousand five hundred dollars through plastic charges me at 2.5% fee which means it’s about $112 worth of fees i have to pay if you’re interested in turning credit cards using this method i have a plastic referral link

Down below where you can get $500 of fee fee transfers so if you sign up for this thing you can have $500 that you do not have to pay for and if you sign up for this spark card you can essentially only pay the four thousand dollars that has a fee which comes out to be a hundred dollars instead of one hundred twelve dollars in this particular case for the capital

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One spark card they sent me an email right after i apply saying oh you’re approved oh by the way you can sign up and use their app and i can get the credit card number right away which means right after i get the number i didn’t even have to wait for the credit card for to come in the mail and i can use the plastic service pretty quickly like one or two days

After i signed up this is the app and you just tap the credit card number over here to view it and it appears right there some of you have complained that oh in order to get this 478 dollars you have to spend four thousand five hundred dollars it is true that i have to spend four thousand five hundred dollars however the way i’m using it is not really spending it

On anything that depreciates where the value is being taking away from my checking account when i use the $4,500 and put it into my mortgage i’m essentially transferring yes cash i have around to put into the mortgage value now yes i would not have this cash anymore is essentially transferred into the home property value it’s reducing my mortgage balance now of

Course if you are not about to pay more into your mortgage anyway this might be a bit of a stretch if you are having problems paying mortgage payments anyway and you’re trying to find extra cash to put in there then this method might not work so well for you you do not necessarily have to pay more in tern mortgage like i am doing you could wait for months a month

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And then pay the normal mortgage payment instead and then pay over to three months and then you can most likely meet this $4,500 anyway certainly this is going to take a bit longer but i’m in the super turning mode here i’m just trying to get as many cards as i can and see just how much i can pay into my mortgage to reduce the balance and yet get some cash back

I’m actually getting a cash value here of 478 dollars when i redeem it into my credit card is actually going to reduce my $4,500 i spent to about $4,000 instead so i spent four thousand five hundred dollars into my mortgage and yet i only had to pay four thousand dollars into this credit card to pay off whatever i spent to pay down the mortgage you actually made an

Additional payment of four thousand five hundred dollars into your mortgage payment you’re actually reducing your mortgage loan by four thousand five hundred which means if you had about a four percent interest rate on it you’re essentially saving yourself a hundred eighty dollars just in the first year every single year after this you’re also going to save another

$180 so not only am i getting 478 dollars off of this process at the end of the year i’m going to get another $180 of effective increase in my network and every single year after that i’m not going to spend another $180 on mortgage interest payments so then yes paying down your mortgage is actually a really really good thing because it compounds over every single

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Year so the way i look at this is if you’re going to pay more into your mortgage why not grab some of these cards and pay more into it through this plastic service so out of all this trickery 478 dollars plus another $180 this is 658 dollars of value you hear that i essentially just created out of thin air i hope you guys enjoyed this method and if you’re in the

Position to pay more into your mortgages essentially kind of like selling hard inquiries for like five hundred six hundred dollars a pop if you have a really good credit score this is certainly something you can do and you can duplicate this with many different credit cards that have a high credit card cash back don’t forget to give me a like on this video comment

Down below let me know if you signed up through plastic through my affiliate down below if you’re interested in supporting my channel i have an audible link down in the video description below where you can get a free audiobook and if you want to support this channel directly i have a patreon link over here where i give various perks at various contribution levels

And as always don’t forget to subscribe to my channel over here and click that bell icon so that you get a notification whenever i upload a brand new video thanks for watching

Transcribed from video
Watch Me Increase My Networth on Camera by $478 By BeatTheBush

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