💳 Learn more on the Save Wealth Card:
In this video we look at the Save Wealth Card, actually there are two versions of this card, the plus and the Premier. These are cash back cards with a twist, they invest a multiple of the money you spend on the card and pay out the equivalent of 4% or 6% in cash back. These would be candidates for the best cash back credit cards of 2022.
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36 comments
I will check this card out, thanks!
2 questions:
For military members, we may not have to worry about the annual fee since we usually get them waived for our service. Would this card be better than Citi DC with no annual fee effecting the earnings?
Also would taxes have to be paid for the earnings?
Would a more accurate comparison be the Fidelity Rewards card rather than the Citi DoubleCash? Same 2% return and no fees, but the return is placed into an investment account.
Free for military Ben? 🙂
️I'm so excited 😊 my life is totally changed. I've been earning $10,250 returns from my $4,000 Investment every 13 days
Greta video! It would be good to see this vs a points based card.
Temping since I pay over 19k on Childcare and shop on Amazon
This seems like such a scam. We would need to pay them an annual fee (guaranteed earnings for them), and they make money on the transaction fee and the "cashback" isn't even guanrateed! Just give me the 2% CB and I can do that investment myself. There is also a 0.79% wealth management fee if there is at least a 0.79% ROI. What a flipping scam!
How do you manage to find all these scams and ponzi schemes to advertise on your channel?? How much do these companies pay you for this?
Definitely an interesting concept here and I’m glad they made the card. I won’t be applying for it any time soon because my spend isn’t that high and I usually sign up bonus search but I’ll keep an eye out for sure. Hopefully other issuers will do something like this as well.
So with inflation you have negative returns?? Rather just get travel points that aren’t affected by inflation.
I'll stick with my current cards. Much easier. Have been considering getting a cash back card, but I can wait for now since I don't feel like opening another card right now
Are cardholders responsible for any capital gains taxes or taxes on any dividends?
Am I the only one, listening to ear hey credit warriors it's credit shifu 🤣🤦🏽♀️. Forgive me am still adjusting to the change 🙆🏽♀️
Finally something interesting)
Would this be a good card to use with plastiq? Pay rent, mortgage, or other non credit card eligible bills?
Not sold on this card. I am loving my capital one venture x. No card on the market comes near.
These 2 cards look interesting, and I hadn't heard of them before. Are business purchases possible or only personal purchases?
Ehhhh I like my investments with my investments and my points with my points
That save card sounds so scammy. So complicated, on purpose. Most people wont make crap on that card
Hey Ben!
Big fan of the channel and where it’s headed. I have a question about these newer investment reward cash back style credit cards. I have a recent interest in them and in simplifying my cc setup and investments. Do you think that a card like the SoFi card could earn more per year when you factor in the percent you could make investing your rewards than having a more complex setup for cash back? I wouldn’t put all spend on a 2% card but possibly a bit more than just non category spend.
I do put a lot of value in having not only my cc rewards but investments all in one place and having traditional options and crypto options for rewards as well.
Would love to hear your thoughts!
Interesting card for sure.
There is an old saying about keeping your insurance and investments separate. That can be extended to also say this – keep your credit card rewards and your investments separate.
when is that credit card available to sign up for?
Not sold. Need a high spend rate, with risk of not getting any cash back on a market downturn.
Discover it 5% cash back on gas rn
Good for rent payments
But are the cards metal tho?
Thanks for calculating the break even point, as (almost) always.
lol them taxes tho
An awesome strategy I deployed was using the hell out of my cash back cards and taking all my rewards and staking USDC at 12%pa I’ve come out on top year over year! But that’s if your into crypto. I’m so grateful for this channel I’ve made so many generational leaps in my credit knowledge that I can now help my family understand how credit works! Thanks Ben for all your hard work!
Nothing that I'm really interested in but I love to see competition in the market and giving people more choices.
I prefer my method of just taking all my MR points and dumping into my Charles Schwab and putting that towards ETF LEAP options. Same idea but more perks I feel and I’m a control freak lol.
No thanks
That save company only have customer service on the app… The benefits is cool, but the con is reaching customer service…I shouldn't have to go to an application for that.
So if I spend $100 on the CitiDouble I get $2 back that I can invest and at an average market grown of 3%, after a year I'll have $2 x 1.03 = $2.06. But spending $100 on the Save Premium would do what exactly? ($100*2.17*1.03)-($100*2.17)=$6.51 ? If markets are stable and after the break even point. Still a way better potential return than investing by yourself.
What are strategy-linked securities? Do they have a big vault of cash and actually invest whatever you spent? How is that sustainable?