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LFTM - for Schwab - you have to open a brokerage acct and the money goes in there, right?
do you actually have to trade or invest?
how do you get your cashback out?
This whole Schwab (and Fidelity/etc) functioning has been eluding me for a long time.
Thanks!
I do the same thing with ALL of my cards. Between my personal expenses, business expenses, as well as family-issued cards, I charge 4-5k a month through my cards, and pay them off every two weeks or so.
I wouldn't worry about it. The credit card companies make money off the interchange fees, so they're not losing out entirely.
@ma_fico wrote:LFTM - for Schwab - you have to open a brokerage acct and the money goes in there, right?
do you actually have to trade or invest?
how do you get your cashback out?
This whole Schwab (and Fidelity/etc) functioning has been eluding me for a long time.
Thanks!
You do NOT have to trade or invest, and there's no requirement to place even a cent in the brokerage account. As your rebates accrue, you can have them mailed or electronically sent.
@Anonymous wrote:
@ma_fico wrote:LFTM - for Schwab - you have to open a brokerage acct and the money goes in there, right?
do you actually have to trade or invest?
how do you get your cashback out?
This whole Schwab (and Fidelity/etc) functioning has been eluding me for a long time.
Thanks!
You do NOT have to trade or invest, and there's no requirement to place even a cent in the brokerage account. As your rebates accrue, you can have them mailed or electronically sent.
This is REALLY helpful!
Thanks so much!