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Hey credit warriors, in this video we are going to look at the optimum American Express setup for earning the most cash back possible, and it might not be what you think, most of the cards we will look at are not actual cash back cards. It’ll all become clear in a moment. But first if you like saving money and earning amazing rewards, why not consider subscribing for more videos like this every week.
So first of all I want to introduce you to the Charles Schwab Amex Platinum, this is kind of the key to this cash back setup and it enables you to redeem MR points for 1.25 cents per point into your Charles Schwab account. Now why this is so important will become clear as we go along.
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20 comments
GREAT VIDEO! MUCH NEEDED!!
Question: What about using the AMEXBCP for "GeneralTravel" such as tolls, Lyft, Taxi, Buses, etc.. *Uber w/ AMEXP is the exception?
Cryptocurrency trading will be the smartest thing to do in 2021, especially at the current rate.
Than you fam
I spent $50K last year on postage… you bet I'm doing the Amex CASH BACK setup!
Fresh out of college with a 700 credit score. Which AMEX card should I apply for first?
Havent watched your videos since the pandemic or shortly after.. this video caught my attention.. just wow.. the quality difference! Good job mate!
Great video again been a subscriber for awhile now.
An important thing to consider is that the Chase line of cards are Visa Credit cards. The American Express cards however are not considered credit cards but Charge Cards. A credit card and a charge card are both valuable but they work in completely different ways.
Always use the right credit product for the intended purpose and do so wisely.
Glad to know I'm not the only one straddling Amex and Chase for the same reasons. CSR travel portal (before revamp, haven't tried it since) had way more options like little BnBs and such for which to use points which I really like. I would be interested to hear your thoughts on a total Chase set up. Maybe a tutorial on tips and tricks to redeem MR and UR points via travel partners for best value? Good stuff man, thanks! Cheers
Good luck with the Platinum,Gold, Preferred strategy. You need $47,500 of groceries to just cover the new fees. At $24000 per year of groceries, 2 Blue Cash Preferred and 2 Blue Cash no fee cards will net $890. The Schwab plan nets $215. Hmmm.
a bit confused why you recommended the EVERYDAY PREFERRED at 2x Gas when the BLUE CASH PREFERRED gives you 3x on Gas – at the same 95 annual fee and a better bonus with first year free ?
this is the bonus points here in Australia,Receive up to 200,000 Membership Rewards® Points
That’s 150,000 Bonus Membership Rewards Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months. Plus, an additional 50,000 Bonus Membership Rewards Points in Year 2 upon fee renewal. Offer extended. T&Cs apply. New Card Members only.1
I really love your youtube channel
Probably one of your best videos for 2021. Very well done. X4 back on gas x4 back on shipping x4 back on office for the bus plat. also that should be added. You should totally do one for chase set up as well 😉
Interesting…My responses seem to disappear. Thanks YouTube.
Sign up bonuses? Yes sir! But after the first year, I just don't see enough value to keep this as a sustainable cashback plan. Maybe for someone who does a LOT of spending, gets close to 100% valuation of those credits. But that's not me.
My problem with Amex and groceries is that is very limited, usually I don't shop at those little grocery stores, and go to the super stores so I earn nothing
Just got approved for my first Amex card, Blue Cash Preferred. Although it can’t be transferred for points, the cash back is real solid
If you have the Blue Cash Pre and your wife gets it you have the 6% back all year (or for 12K anyway)
I totally get what you are doing here, but I think after the recent Platinum changes this is even less viable strategy. First of all, to use a Platinum card at all you'll have to cough up $695 annually which instantly negates any increases in cashback. Combined with the fact that the Schwab card's cash redemption was devalued to only 1.1x this year, this really is not a smart idea anymore.
30 transcation a month so not 30 items one one receipt but 30 different transcations.