Having over 20 credit cards to choose from, I am able to select the best ones every quarter to give me the best cash back. Let me show you which ones you may want to get if you do not have them already in order to also get the most cash back.
How’s it going everybody this is beat the bush today i’m gonna talk about the theory behind how you can set up the credit cards in your wallet so that you get the most cash back every single quarter you see if you’re ok with handling a lot of different credit cards and you won’t plunge yourself into debt from holding so many of them then having a lot of different
Cards actually helps you because usually every single card has a different category or maybe it might be rotating so the theory behind it is to have a lot of them so that you can just pull together all of them every single quarter and then go okay i’m gonna use this one for that quarter this one for this quarter so essentially you can get you know close to five
Percent off of everything now if you’re not able to suddenly get like ten different credit cards that allows you to pull them together like this you may want to start off with three basic ones that are my favorite citibank double cashback that has 2% off of everything discover credit card that has 5% categories as well as the chase freedom that has 5% categories
You want more than one because sometimes they do not have the exact same categories so they can kind of work in tandem and you can use one for certain things and then one for other stuff one thing that is missing from this is if you travel a lot what i look for is a travel credit card that gets three percent cash back without an annual fee and you’ll know that
If you look around this is really hard to get and i do have one of these that i can show you guys now over here i have my cheat sheet here that i print out every single quarter and stuff it in my wallet why do i keep a cheat sheet rather than use one of these apps that tells you which credit card to use is because i can’t put my phone in my wallet and my phone is
Usually not in the same pocket as my wallet i want to open up my wallet up take out a little piece of paper from my wallet be able to see which credit card i should use and with one motion i can open it like this look at it and then i can take it out if everything is in your phone it means you have to take out your phone enter in your passcode or something you
Know fiddle around with the app and then you gotta push it i feel like it’ll take a lot longer so that’s why i keep on printing out a little cheat sheet and putting in my wall instead okay let me go over the stuff that i’m using and why i’m using them right now i have a bank of america cash rewards card that i have the platinum honors tier on it which gives me
75% additional cash back off of their base the gas is 3% cashback but if you get 75% on top then it becomes 5.25% so it’s really good to try to get into this here it’s a little difficult because you need like a really big investment thing i think more than 100k in investments in there merrill edge account you get 2% cash back off groceries 75% on top of that is
3.5% this is not so good because this quarter discover it and chase freedom has 5% off cash back in groceries category like i said i keep the city doubles rewards card all the time because you get 2% off of everything sometimes if i completely forget which category is which and i just don’t really want to think about it then i would use the city double as the base
Minimum thing u.s. bank cash back is actually a pretty good card sometimes these cards have limits on how much you can spend on those categories for example both discover it and freedom has a $1,500 cap on your 5% cash back every single quarter that limits you to about $500 every month so you might want to have a different credit card so that just in case you want
To buy something expensive for me i’m looking for a monitor a camera and this might actually push me over for $1,500 so it’s good to have other credit cards i have in other categories that you can spend in just in case you spend over there limits u.s. bank cash plus also has rotating categories and for me i picked electronic places and utilities so you i do have
Utility so i quickly went on pgn you paid 500 bucks on that one i went on my trash services and paid $250 i went on my water services and paid $400 so all of this is about 1150 dollars five percent off of that is about fifty seven fifty or so so just me pre paying into my utilities allows me to you know get five percent off basically and i was going to use that
Anyway as long as i stay here and use those utilities then i’m gonna eventually use up the credits that’s in those account now i limited myself to not go too crazy over it because if you store too much money in those accounts you’re essentially not going to be better off because you could have just put that money somewhere else you know in an investment account
You put it in online savings account get 1.5 percent there so you just want to put you know roughly six months to one year worth of credits and u.s. bank cash plus i don’t really need to carry with me because if i buy electronics he’ll be online paying utilities will be online also so this will be done at home i also have to chase inc card over here i get 3%
Cashback on restaurant gas office supply hardware stores home improvement now this chase inc card you can no longer get these categories for three percent this is a grandfather card if you get a brand-new chase inc card you’re gonna have a slightly different amount of cash back in different categories and you know to me it’s not as good so just be aware of this
Like i said discover it has groceries 5% so you know just use this card for all your groceries for this quarter the chase freedom also have the groceries for 5% it also has paypal which i already talked about couple videos ago and chase peso if you really don’t want to do the paypal thing on freedom like i said before you could go buy gift cards at the grocery
Store just kind of by amazon gift cards or something and then store in your amazon account i know i personally keep quite a bit of credit in there because i know i’m gonna use it eventually the freedom i don’t have to carry around because that’s redundant there’s two grocery five-percent now one other one i like to talk about is the bbva compass cart now this is
More like a less well-known bank i guess but when i signed up for that card i got like $100 cash back after spending five hundred so this is 20% off of already and even after you sign up for this credit card you actually have to sign up for their points program you have to sign up for the category every single quarter and pick that you want the travel category
For three percent now this is the 3% cashback that i like because this credit card has no annual fee unlike american express gold which does have one hundred ninety five dollar annual fee but you do get the three percent cashback on travel this credit card is nice because i like to keep things with no annual fee bbva travel three percent i don’t have to carry with
Me usually i buy plane tickets at home i don’t just buy it on the go again i keep a target credit card in my wallet because sometimes i do go to card target and then you get five percent immediate off off of whatever you buy you don’t have to wait to receive the cash back i also have a bank of america balance card that if you use it once every single month every
Single quarter you would get $30 cash back i also have a capital one credit card i do not carry with me all the time but i will carry it around with me if i go international travel because it does get a 1.5% cash back on everything but the most important part is the no foreign transaction fee that’s why i just kind of swap everything out and go forget everything
Else i’m gonna use the capital one or no foreign transaction fee i’m not even gonna worry about like using groceries you know in a foreign country i don’t do that because the foreign transaction fee is really big so just not having that is really worth it and my bank of america debit card and a chase debit card my driver’s license over here and i have a clipper
Card so i would normally put my cheat sheet like this so it’s easy to take out and just take it out like that and then i can read whatever if i forget what’s on here and then i can put it back like that over here just some cash so thanks for watching this video it goes to show that if you optimize all your credit cards you are essentially gonna get five percent
Off of everything you buy basically five percent less than everyone else so it’s kind of like five percent off of life if you’re interested in supporting this and i’ll take out my audible link down in the video description below where you can get a free audiobook and if you don’t like this audiobook or disservice you can cancel it before the subscription expires
And you do not have to pay a thing and you can still keep this audiobook for free i’ll have a patreon over here where i give perks such as early access to my videos and as always don’t forget to subscribe to my channel over here and click that bell icon next to that subscribe button so that you get a notification whenever i upload a brand new video and if you notice
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Transcribed from video
Cash Back Credit Cards for 2018 By BeatTheBush
