For the last couple of years, I have spent mine from Capital one, Discover, and NFCU. I still have a several hundred dollars left from 2017's credit card spending. Also, I havent cashed out my MR's from AMEX because the dollar amounts arent as good.I didnt count the statement credit from BCE or Synchrony as I dont put much throught hem to get any significant dollars. I so want to put them in a separate account and splurge on a trip or cool gift to my kids or something. Its cool doing what ifs on choosing which card to put spend on for most of the year.
@Anonymouswrote:I have become big on 0% intro cards lately. I tend to always have on in my wallet. I pay the bill in full to a brokerage account invested in Municipal Bond ETFs [if the price is low] or a Discover savings account. On top of the cash-back offering of the 0% card, I can make an additional 1.5% to 4% [pre-tax] on the money. It's not going to make me a rich man, but definitely a way to make some extra green and pay a few extra bills throughout the year, especially if you run that 0% high - north of $10,000 or so. Anyway, just thought I would share. Any other systems you guys have developed to try and maximize your gains from credit cards?
No. It's only the lenders who make money on my credit cards.
I'm not sure if OP is stating that they invest their cash back earnings from credit cards to earn a little interest on them, or if they're taking 0% advances and investing them?
@K-in-Bostonwrote:I'm not sure if OP is stating that they invest their cash back earnings from credit cards to earn a little interest on them, or if they're taking 0% advances and investing them?
My guess is that he is saying that he uses his 0% card for purchases, then takes the cash that he would normally use to pay the card off and invests it until the end of his 0% offer.
@Jimp2323wrote:
@K-in-Bostonwrote:I'm not sure if OP is stating that they invest their cash back earnings from credit cards to earn a little interest on them, or if they're taking 0% advances and investing them?
My guess is that he is saying that he uses his 0% card for purchases, then takes the cash that he would normally use to pay the card off and invests it until the end of his 0% offer.
I hope he is saying he takes the cashback and invest it with other funds and not fund with the card. I dont think you can fund with credit cards with brokerage. I figured they want proof you have cash or funds from other brokerages to transfer
I think @Jimp2323 may have it. I suppose that strategy could work for those with modest spend and high starting limits; I just did the math and I'd run into major utilization issues doing that unless I were getting something like a new $25,000 card at 0% on an almost monthly basis. So if I just got for example a $7500 15-month certificate at NFCU paying 2.25% every month instead of paying my card, I'd make $168.75 a month starting in 15 months. That would work out to $2025 a year (plus churning bonuses left and right!), but at the cost of opening up 10-12 new cards every year and racking up over $100k in debt the first 15 months until I started paying off the balances one at a time when cashing out those certificates. That sounds like a recipe for AA disaster.
Here's one better OP, getting free points for business and travel expenses.
That's the best strategy I could come up with.
Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR