How To Earn $175/Month With Credit Cards (Tax-Free!)

(The next is a transcription from a video Linda in addition to I recorded. Please excuse whatever typos or errors.)

We had a reader, one of our readers, one of our really smart readers reached out and sent me an email of how she generates $175 a month using her credit cards. She earns less than $500 a month at her job and she earns a third of that from just credit cards, how she uses her credit cards. We’ve talked about basically how we use one or two different Chase credit cards because I like to expire along things super unproblematic, but when I listen material similar this it’s only fascinating to me because if yous do want to pass some to a greater extent energy on this together with ain multiple cards inward addition to be a fleck to a greater extent strategic, at that spot’s a lot of potential at that spot. Yeah, we’re going to sort of dissect her strategy hither for you too nowadays what’s going on.

Amex Blue Cash Preferred Card

Okay. Groceries, using the Amex Blue Cash Preferred Card, you acquire 6% dorsum at grocery stores as good as upwards to $one-half-dozen,000 inwards purchases per yr.half-dozen% is a lot. I want in that location was no boundary hither, but 6% back is genuinely skillful.

There’s i affair you should live aware of amongst the Amex card. There is an annual fee on this i. But, the reader says the rewards at 6% to a greater extent than than covers the annual fee. H5N1 proficient fleck beyond I would intend.

Capital One Savor Card

The next one is the Capital One Savor Card. When they dine out she uses this credit card. They get back 4% at restaurants. So if yous swallow out a lot, this would live a proficient carte du jour for yous to earn cash dorsum with

Chase Amazon Rewards Card

Amazon. When shopping on Amazon, she gets 5% back on all her purchases at Amazon. Can you imagine how much money you would have if you got 5% back on Amazon purchases? That is using the Chase Amazon Rewards Card.

And if yous shop through Amazon’s Subscribe as good as Save programme, with this carte du jour yous acquire an additional v% savings. Even if yous don’t acquire this credit card you lot tin toilet preserve a skilful amount of money alongside the Subscribe inward add-on to Save estimator computer programme.

Citibank Costco Card

The next one is the Citibank Costco Card. She saves extra at Costco together with on Costco gasoline. She earns 4% on gas. Our reader says that cashed earned dorsum pays for her membership per yr.

Costco is some other affair that we don’t snuff it because of convenience. But, I intend at that spot’s a lot of money to salvage at Costco if yous can transport away purchase in book, smart. That is if you lot tin force out non purchase extra stuff, but purchase the things that you’re actually going to role. I call upwardly in that location’s a big win at that spot for a lot of people.

Citibank Double Cash Card

Citibank Double Cash Card earns 2% dorsum on all purchases. Okay, which is corking. This is one of the … I intend it’s the highest cashback accuse per unit of measuring that I’1 thou aware of. If yous are specifically looking for cash back, that’s what I similar goodness-nigh this card.

Chase Credit Cards

We use this Chase Freedom Unlimited as kind of our primary card right now. We’ve used the Sapphire Preferred a lot. The Chase cards give you Ultimate Rewards points. What I like about Chase is if you’re using Hyatt hotels, and we talked about this in this other video, I’ll have got it linked hither, how we locomote for gratis, but it uses Ultimate Rewards points. If you lot’re using Ultimate Rewards points, they driblet dead past times away thus much further at Southwest as well at Hyatt hotels, in add-on to y'all flame acquire a whole lot to a greater extent than value than precisely 2% cash dorsum. If you lot’re willing to do that on get, you lot tin flame silent acquire cash dorsum with them, but it’s exclusively similar 1.5%, but that’s only not the best way to spend them.

Huntington Voice Card

She gets 3% back on her utility payments by using the Huntington Voice Card. That’s amazing being able to produce that on utilities.

She tin lav give notice earn this 3% dorsum because you larn to pick a category. It’s 1 of those rotating category cards where you lot ship away pick which category yous terminate earn cash back on. I’1000 also seeing hither that surely credit cards yous tin dismiss pick whatever category y'all desire to get a discount on.

Many cards testament tell on dining you tin larn v% back, or on gas you lot lav give the axe get v%. So you lot tin select whatever i you wish. It’s a rotating i or you lot pick. They give yous that pick, which is shape of cool.

Melaleuca Visa

The last credit card that she uses is the Melaleuca Visa. To be honest, I don’t know what Melaleuca is. It looks similar it mightiness alive like Young Living or something similar that where they direct care health products. There’s a whole bunch of products likewise material like that.

What’s proficient unopen this carte du jour is that our reader gets 6% dorsum there. And and then equally goodness 4% dorsum on production purchases when dining out. When she eats out, 4% of that goes towards her side by side purchase.

I hateful the skillful indicate of this possibly is only that someplace where you lot tin acquire a swain fellow member as well as sort of spell of piece of work that scheme a lilliputian chip. Costco falls under the same category. She is a numbers nerd similar me inward improver to added all this upward in improver to concluded that ultimately she’s earning $175 inwards revenue enhancement-gratuitous income doing this, which is really, genuinely cool!

Now, champaign you do have to transcend money to get these cashback rewards. But, the telephone call up for is, is that if you’re not spending extra coin yous receive got to pay your utility pecker every month.

You likewise accept to purchase food every month. If you’re doing this, it’s similar we’re non spending extra money on our credit cards to acquire the rewards, but we’re going to spend the money anyway so nosotros power as goodness learn the rewards.

Carrying Credit Card Balances

Now, the caveat here that I always want to give any time I’m talking about credit cards, every single time you hear me talking about credit cards I’ll say this, is that there’s no benefit to this if you’re carrying a balance. You have to be a person who is paying off your balance every unmarried calendar month, otherwise, this is but a complete waste thing of your time, because those interest charges are going to speedily starting time whatever make goodness that yous’re going to acquire.

If yous aren’t a mortal who pays off your residuum every unmarried month, in addition to then precisely skip using credit cards to earn cashback rewards. It volition non alive worth it. Get focused on your budget instead.

Focus On Your Budget

Focus on getting your budget really solid and just getting out of debt to a betoken where you lot forcefulness out pay your credit cards off every single month. Then in 1 lawsuit yous’re venture, in addition to so yous sack explore earning cashback amongst credit cards.

Anyway, I just idea this cashback earning strategy was a truly cool grab also wanted to component section with you lot, because I know some of you lot coin nerds out inwards that location are similar us who mightiness get a boot out of this.

That’s it for direct off. If yous possess whatsoever cashback credit cards that we haven’t discussed, let us know inwards the comments below!

Be blessed. Be a approving!