It’s a passion from SMB and today we talk about the chase Quang Spectre, this is the best four card system by Chase to maximize your everyday spend. But first if you are new here, we’re all about how to match them as a belly for credit cards. If it sounds interesting about how to get the most cash back and how to travel for free, described our channel.
Let’s get started. We’ve already talked about the chase trifecta before, which is the freedom unlimited. The freedom, as well as the Chase Sapphire Preferred or the reserve depending on which one makes more sense for you as a baseline. And this is just taking the next step.
If you miss that video, a quick summary is that you really want to use the freedom card, whenever it’s something, that’s a 5 X category, so that there will be different categories every quarter and pretty straightforward over there.
What does the Chase Sapphire Preferred reserve, you really want to use that card for dining as well as traveling, specifically dining as a category for the freedom card for everything else. You want to use a taste freedom unlimited, which earns 1.5 X points back. Today, we’re going to add in the Inc cash card to make the 3 card system into a forward card system.
One thing to be aware of is that it is a business card, so you have to qualify. But it’s a lot easier than you might think in order to get a taste business card, and you need to have at least a sole proprietorship. This means that you have to be doing something on the side even if you’re not incorporated with your earning money.
If you’re doing a sole proprietorship, this could be anything from fixing people’s computers to help them work or diet. For example, a friend who helps people make diet plans and he applied for the card even though his business was only around one. Here his estimated revenue for this year was about six thousand dollars and he ended up getting a crew for this card for some other chase business cards and might be more difficult.
For the ink cash preferred card, which we’re not talking about, it doesn’t really tie into the four cart system that one’s going to be harder to get approved for, just because it has a higher threshold one final thing to remember is that you need to be under 5:24 in order to get a proof for this card.
If you have more than five new accounts in the last 24 months, you will automatically be rejected for the ink cash cards as well as any other core trades card. So why do we want to add this card? The real benefit here is that it has no annual fee and it has a 5x category, even though the website says cash back you actually earn ultimate reward points, which is even better and we’re going to dive into that a bit more.
But you get 5x back up to $25,000 and offer supplies, as well as on internet cable and phone services. You get to explain back on the first $25,000 in gas stations and restaurants and what explain snacks on everything else. The One X point back isn’t really that interesting, just because you have the freedom unlimited here, which earns 1.5 X back. So we’re not going to discuss that one that much.
And then we’re looking at the 5 X category as well as a 2 X category. The 5 X category is where it gets really interesting. For most people, you probably have a cable bill, a phone bill or a utilities bill, which all depend on how big your family is or how big your other expenses are.
This can be pretty material looking at my internet cable and phone bill. My internet is about $50 a month, so I ended up negotiating it down and I can talk through that in future video. My cable is nothing, because I don’t have cable and my phone bill is about $70 a month. If you’re someone who has a family, obviously your bills are going to be a bit higher.
But if you are a bit more enterprising and you don’t have a family, I know that what some people do is that they are the head of their family for something like t-mobile. And the benefit is that if you add other people, everyone pays a lot less. So I think it goes down from $70 to 60 to 50 per person, if you add in more people.
So if you’re at a head of the family and you’re the one paying it off as long as they’re the people you trust , they pay you back, your phone bill might be $200 a month. The big school we’re going to look at is office supply stores, so this one might be a bit harder.
But there is a really good hack, which enables you to get 5x back in points pretty much. Anywhere you chop places like Staples allows you to buy gift cards at a $1.00 to $1.00 rate for a lot of different places, so target would be a very good example as well as eBay. If you do run through the list, there are a lot of different options: Gap, Lowe’s Target, Whole Foods, Sephora Game Stop hotels.com, Whole Foods, AMC, Group on Home, Depot, just to name a few.
Obviously, it can’t be everywhere. But there are a lot of places, especially if you consider about the places like eBay, where you can buy pretty much anything from. So it helps you a lot because you’re getting products backed on these transactions. There are two considerations, the first one is the extended warranty that you get from your credit cards.
If you do buy something on eBay and if it breaks after a year and if you have the extended warranty perk on the credit card, otherwise you lose out on that. Because the gift card doesn’t provide any perks, the fact that you use your credit card to buy a gift card means that you lose all the benefits that you would otherwise get from the credit card.
The rear binding things that are consumable, then this typically doesn’t matter. Obviously, you can’t pay in return to the protection on something like the food at the same hotels. So there are situations where you might be able to do charge box. But for me, I don’t really consider it. You can buy some gift cards and just get a lot of value from it.
Another thing to consider is that if a gift card is something that you buy certain ones, it might actually trigger a review on chases end, and they might close your accounts. A lot of credit card companies get level three data, which basically shows what you’re purchasing as well as your quantity.
If you go on flyer talks, there are a lot of people who talked about how to get shut down for buying Visa gift cards and the main thing here is, because Visa gift cards aren’t really affiliated with a specific brand. So they can be used anywhere, so it’s seen as more of a cash equivalent than something like staples, like on gift card or something like Panera Bread.
For most people here, I don’t think it will be a problem, and this is literal that people buy $25,000 in Visa gift cards. The main reason why I brought it up is that it is a risk if you abuse it, so you can move on to the two weeks category, you get to expect on gas stations as well as restaurants.
For gas stations, this is pretty awesome, depending on whether you have any other option and how you value your points. If you value them at two cents per point, that’s effectively four percent back. And we’re going to dive into the points a bit more afterwards, so don’t worry too much about that now and then.
For restaurants, you’re getting two weeks points back. So depending on whether you have the cheese sapphire Reserve or the preferred, it might not really be that beneficial. The main benefit here is that if you want to downgrade one of those two cards to Chase Sapphire Preferred or the Reserve at some point in the future, maybe you’re getting negative expected value, then you’re still going to have this card that are in Stu expect for me. The main value of the ink cash card is that it opens up a lot more doors for five, expect in places. You wouldn’t be able to get by vechs back.
And the other thing is that there’s no annual fee, so you don’t need to justify it with a lot of other cards that have annual fees, you need to make sure that you’re getting positive expected value. If you’re looking to redeem the points towards cash back, which I typically wouldn’t really recommend, you’re not getting the most value and you’re getting since proponent.
You’re getting 5% dodge as well as 2% back. If you have to chase Sapphire Preferred, then you’re going to get one point two five cents per point. If you book two using the travel portal and two cents per point, if you use transfer partners, this means that the five six points you get back. Here is really a six point two five percent return on, spent the two weeks back is a two point five percent return on spend.
If you have the Chase Sapphire reserve and you’re going to get one point five cents per point, using the travel portal and two cents per point, using transfer partners, this means that 5x points back is really seven point five percent return on spent and two explains bag is really three percent return on spend.
Transfer partners 5x points back is really ten percent return on friends and to expect is really four percent return on spend. In past videos, I’ve mentioned how to use transfer partners and maximize this value. So I’m not going to cover it too much.
Here looking through your decision flow which means that you should use your freedom card if possible first and if God doesn’t earn you anything. Then you look to the Inc cash card to see if you can get that fixed bag, and use one of the gift cards or one of the specific categories. After that, you would use it to change that five Reserve or the preferred, depending on which one you have.
If it fits, one of its categories and then afterwards, you would use the freedom unlimited card, that’s a catch-all card for everything else running through a few examples. So the current category for the Freedom Card are restaurants, so you would want to use the freedom card, just because it fits.
There you’re getting five six points back, if you’re looking to do hotels calm, you wouldn’t use the freedom cards as a wn5 expect and you would use the inc card, because you can buy gift cards to hotels tom for the bags back. If you’re looking to book air fares and you wouldn’t use the freedom card or the ink card, just because it doesn’t fit any of the categories and you would use either two preferred or the reserved.
You wouldn’t have both the preferred and the reserved, and you would only have one of them. And the main reason is that a lot of their benefits overlap, there are some situations where you would want to use the Chase Sapphire Preferred or the reserved for the better perks, but most of it relates to travel.
If you’re looking to apply for any of these cards and you want to support our channel, it’d be really great, if you apply to use the links on our website, I hope that was helpful and let me know if you have any questions, my question for you is: what are your thoughts on the chaise longue?
Specta is not a scripted name, do you think it’s a really good system? Let me know in the comments down below. If you like it, give it a thumbs up, it really helps us out. If you know anyone else who’s been, please feel free to share it with them. Because it’s probably going to help them out. See you next time.