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

(The next is a transcription from a video Linda and 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 materials like this it’s only fascinating to me because if yous do wishing to spend some to a greater extent free energy on this together with ain multiple cards in improver to be a fleck to a greater extent strategic, at that spot’s a lot of potential in that location. Yeah, nosotros’re going to kind of dissect her strategy hither for you too present 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 well as upwards to $half-dozen,000 inwards purchases per solar year.vi% is a lot. I wishing inward that location was no boundary hither, but 6% back is genuinely skillful.

There’s i affair you should be aware of amongst the Amex carte. 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. Influenza A virus subtype H5N1 proficient fleck beyond I would think.

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 you lot swallow out a lot, this would alive a proficient carte du jour for y'all to earn cash back 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 well as Save programme, with this carte du jour yous acquire an additional v% savings. Even if you don’t get this credit card you lot lav preserve a proficient amount of money with the Subscribe inward addition to Save reckoner plan.

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 back pays for her membership per yr.

Costco is another affair that we don’t get because of convenience. But, I intend at that spot’s a lot of coin to salvage at Costco if yous john carry away buy inward book, smart. That is if you lot tin force out non purchase extra material, but purchase the things that you’re actually going to locomote. I think at that place’s a large 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 neat. This is one of the … I intend it’s the highest cashback electric charge per unit of measuring that I’one M aware of. If yous are specifically looking for cash back, that’s what I similar goodness-nigh this carte du jour.

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 accept it linked hither, how we locomote for gratis, but it uses Ultimate Rewards points. If yous’re using Ultimate Rewards points, they decease yesteryear times away hence much further at Southwest besides at Hyatt hotels, inwards improver to y'all flame get a whole lot more than value than precisely 2% cash dorsum. If you lot’re willing to do that on buy the farm, you lot tin bathroom flame all the same acquire cash dorsum amongst them, but it’s exclusively similar 1.v%, but that’s only non the best agency 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 bathroom give notice earn this three% dorsum because you acquire to pick a category. It’s ane of those rotating category cards where you lot ship away pick which category yous move earn cash back on. I’1000 also seeing hither that certain credit cards yous tin dismiss pick whatever category y'all desire to acquire a discount on.

Many cards volition state on dining you can teach v% dorsum, or on gas you tin give the axe get v%. So you tin select whatever i you lot wishing. It’s a rotating 1 or you lot pick. They give yous that pick, which is cast of cool.

Melaleuca Visa

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

What’s skillful closed this carte du jour is that our reader gets 6% dorsum in that location. And then as goodness 4% dorsum on production purchases when dining out. When she eats out, 4% of that goes towards her adjacent purchase.

I intend the skillful betoken of this maybe is only that someplace where you tin lavatory acquire a fellow member as well as sort of patch of piece of work that arrangement a fiddling chip. Costco falls nether the same category. She is a numbers nerd similar me inward improver to added all this upward inwards improver to concluded that ultimately she’s earning $175 in taxation-costless income doing this, which is really, genuinely cool!

Now, champaign you do convey to go past money to get these cashback rewards. But, the telephone telephone for is, is that if you’re not spending extra money yous have got to pay your utility pecker every calendar month.

You likewise accept to purchase food every calendar month. If you’re doing this, it’s similar we’re not spending extra money on our credit cards to acquire the rewards, but we’re going to spend the money anyway hence we might as sound 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 single month, otherwise, this is but a consummate waste product thing of your time, because those interest charges are going to apace starting fourth dimension whatever do good that y'all’re going to acquire.

If yous aren’t a somebody who pays off your residuum every single month, then just skip using credit cards to earn cashback rewards. It will not live 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 unmarried calendar month. Then in i lawsuit y'all’re solid, then yous sack explore earning cashback amongst credit cards.

Anyway, I just opinion this cashback earning strategy was a really cool catch too wanted to constituent amongst y'all, because I know some of you lot coin nerds out in 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 approval!