Read on Twitter
(1/17)
I will break up this FTW credit card (CC) series into the following 6 parts:
#007 - How to use credit cards to pay off debt faster
#008 - How to maximize cash back rewards
#009 - How to travel the world for FREE using credit card points
I will break up this FTW credit card (CC) series into the following 6 parts:
#007 - How to use credit cards to pay off debt faster
#008 - How to maximize cash back rewards
#009 - How to travel the world for FREE using credit card points
(2/17)
#010 - How to build your wealth using credit cards
#011 - My ideal credit card strategy
#012 - A look into my wallet
The purpose of this thread is to show how I would leverage CCs to build my wealth.
#010 - How to build your wealth using credit cards
#011 - My ideal credit card strategy
#012 - A look into my wallet
The purpose of this thread is to show how I would leverage CCs to build my wealth.
(3/17)
See FTW #007 - #009 to to learn more about CCs and ways it can be used to pay off debt faster and to earn free cash back & travel.
This is not financial advice, and is for entertainment purposes only. Please do your own research before deciding to open up a new CC.
See FTW #007 - #009 to to learn more about CCs and ways it can be used to pay off debt faster and to earn free cash back & travel.
This is not financial advice, and is for entertainment purposes only. Please do your own research before deciding to open up a new CC.
(4/17)
By now, whether you agree or disagree with me, you should at least be able to see/understand how I use credit cards as a tool to earn free money and travel.
Now I’d like to go through a potential real life scenario to show how...
By now, whether you agree or disagree with me, you should at least be able to see/understand how I use credit cards as a tool to earn free money and travel.
Now I’d like to go through a potential real life scenario to show how...
(5/17)
... a person can use credit cards to build their wealth.
Scenario:
- Jill, who is 25 y/o, has always wanted to start a wedding photography business but she doesn’t have the up front money to buy the equipment and supplies needed
... a person can use credit cards to build their wealth.
Scenario:
- Jill, who is 25 y/o, has always wanted to start a wedding photography business but she doesn’t have the up front money to buy the equipment and supplies needed
(6/17)
- She has a steady W2 job and a great credit score because she has been building her credit score since she graduated high school
- She has applied for a loan from a local bank to get her business kick started but she...
- She has a steady W2 job and a great credit score because she has been building her credit score since she graduated high school
- She has applied for a loan from a local bank to get her business kick started but she...
(7/17)
... realizes that the 8% interest rate is a little too high for her taste
- She read FTW #007 ( https://twitter.com/warrenrubin_/status/1329638971215790082?s=21)">https://twitter.com/warrenrub... and realizes she could apply for a credit card that offers a 0% intro APR promotion
... realizes that the 8% interest rate is a little too high for her taste
- She read FTW #007 ( https://twitter.com/warrenrubin_/status/1329638971215790082?s=21)">https://twitter.com/warrenrub... and realizes she could apply for a credit card that offers a 0% intro APR promotion
(8/17)
- After some research, she decides to apply for the Chase Freedom Unlimited (see link below if interested) and she gets approved for a $10,000 credit limit with an intro APR offer of 0% for 15 months AND an intro bonus of $200 after she spends $500 in 3 months
- After some research, she decides to apply for the Chase Freedom Unlimited (see link below if interested) and she gets approved for a $10,000 credit limit with an intro APR offer of 0% for 15 months AND an intro bonus of $200 after she spends $500 in 3 months
(9/17)
- Upon receiving her new Chase CC in the mail, she goes out and spends $8,000 for cameras, lenses, tripods, a computer, business cards and other equipment/supplies needed to start her business
- Upon receiving her new Chase CC in the mail, she goes out and spends $8,000 for cameras, lenses, tripods, a computer, business cards and other equipment/supplies needed to start her business
(10/17)
- Jill understands the time-value of money so she uses her W2 income to only make the minimum payments on her CC. If Jill wanted to, she could cash out the $200 bonus that she earned and use that to make the minimum payments for about 3-4 months
- Jill understands the time-value of money so she uses her W2 income to only make the minimum payments on her CC. If Jill wanted to, she could cash out the $200 bonus that she earned and use that to make the minimum payments for about 3-4 months
(11/17)
- She lands her first gig within a month after she advertises her new business on social media
- She does such a great job on her first gig that the bride and groom recommended her to a friend who also decides to hire her. Within 12 months, Jill is...
- She lands her first gig within a month after she advertises her new business on social media
- She does such a great job on her first gig that the bride and groom recommended her to a friend who also decides to hire her. Within 12 months, Jill is...
(12/17)
... fully booked every weekend
- 12 months after she received her CC, she has earned enough in profit to pay off the remaining ~$7,000 balance. At this point, Jill has 2 options:
... fully booked every weekend
- 12 months after she received her CC, she has earned enough in profit to pay off the remaining ~$7,000 balance. At this point, Jill has 2 options:
(13/17)
1. She can use all the profits that she has earned to pay off her CC and wait for future profits to expand her business
2. She realizes she’s about to reach the end of her 0% APR promo period, so she applies for the Chase Freedom Flex to...
1. She can use all the profits that she has earned to pay off her CC and wait for future profits to expand her business
2. She realizes she’s about to reach the end of her 0% APR promo period, so she applies for the Chase Freedom Flex to...
(14/17)
... get another 0% APR period for 15 months AND another $200 intro bonus. She uses this new CC to scale her business. She hires employees using the profits she has made, and buys more equipment/supplies with the new CC.
... get another 0% APR period for 15 months AND another $200 intro bonus. She uses this new CC to scale her business. She hires employees using the profits she has made, and buys more equipment/supplies with the new CC.
(15/17)
If I were Jill, I would choose option 2 b/c it provides her w/ the opportunity to scale her business and leverage low risk debt.
Note: If any business/tax professionals are reading this, I’m making the assumption that Jill is operating her business as a sole proprietor.
If I were Jill, I would choose option 2 b/c it provides her w/ the opportunity to scale her business and leverage low risk debt.
Note: If any business/tax professionals are reading this, I’m making the assumption that Jill is operating her business as a sole proprietor.
(16/17)
Final Remarks:
The BIG key takeaway here is that Jill was able to start a profitable business without ever paying any interest to her CCs. In fact, if she goes with option 2, she would...
Final Remarks:
The BIG key takeaway here is that Jill was able to start a profitable business without ever paying any interest to her CCs. In fact, if she goes with option 2, she would...
(17/17)
... earn $400 in free cash from the sign up bonuses from both the Chase Freedom Unlimited and Freedom Flex! It’s almost like she got paid to start a business.
Feel free to also message me if you have any questions!
... earn $400 in free cash from the sign up bonuses from both the Chase Freedom Unlimited and Freedom Flex! It’s almost like she got paid to start a business.
Feel free to also message me if you have any questions!
Chase Freedom Unlimited or Freedom Flex: https://www.referyourchasecard.com/18f/7DLWBD5V0B
Chase">https://www.referyourchasecard.com/18f/7DLWB... Sapphire Preferred: https://www.referyourchasecard.com/m/6a/6L5/G9F9/1557547579
American">https://www.referyourchasecard.com/m/6a/6L5/... Express Platinum: http://refer.amex.us/WARRER8qP0?XL=MIACP
Capital">https://refer.amex.us/WARRER8qP... One Quicksilver: https://capital.one/31ofZfL ">https://capital.one/31ofZfL&q...
Chase">https://www.referyourchasecard.com/18f/7DLWB... Sapphire Preferred: https://www.referyourchasecard.com/m/6a/6L5/G9F9/1557547579
American">https://www.referyourchasecard.com/m/6a/6L5/... Express Platinum: http://refer.amex.us/WARRER8qP0?XL=MIACP
Capital">https://refer.amex.us/WARRER8qP... One Quicksilver: https://capital.one/31ofZfL ">https://capital.one/31ofZfL&q...
Join me tomorrow at 6pm HST for FTW #011.
What is FTW?: https://twitter.com/warrenrubin_/status/1327360078177914880?s=21
FTW">https://twitter.com/warrenrub... #001: https://twitter.com/warrenrubin_/status/1327491766312845312?s=21
FTW">https://twitter.com/warrenrub... #002: https://twitter.com/warrenrubin_/status/1327838753344217088?s=21
FTW">https://twitter.com/warrenrub... #003: https://twitter.com/warrenrubin_/status/1328186040083890176?s=21
FTW">https://twitter.com/warrenrub... #004: https://twitter.com/warrenrubin_/status/1328549059192258561?s=21
FTW">https://twitter.com/warrenrub... #005: https://twitter.com/warrenrubin_/status/1328911090026115073?s=21">https://twitter.com/warrenrub...
What is FTW?: https://twitter.com/warrenrubin_/status/1327360078177914880?s=21
FTW">https://twitter.com/warrenrub... #001: https://twitter.com/warrenrubin_/status/1327491766312845312?s=21
FTW">https://twitter.com/warrenrub... #002: https://twitter.com/warrenrubin_/status/1327838753344217088?s=21
FTW">https://twitter.com/warrenrub... #003: https://twitter.com/warrenrubin_/status/1328186040083890176?s=21
FTW">https://twitter.com/warrenrub... #004: https://twitter.com/warrenrubin_/status/1328549059192258561?s=21
FTW">https://twitter.com/warrenrub... #005: https://twitter.com/warrenrubin_/status/1328911090026115073?s=21">https://twitter.com/warrenrub...
FTW #006: https://twitter.com/warrenrubin_/status/1329277987842187265?s=21
FTW">https://twitter.com/warrenrub... #007: https://twitter.com/warrenrubin_/status/1329638971215790082?s=21
FTW">https://twitter.com/warrenrub... #008: https://twitter.com/warrenrubin_/status/1329999116940689410?s=21
FTW">https://twitter.com/warrenrub... #009: https://twitter.com/warrenrubin_/status/1330726176818556930?s=21">https://twitter.com/warrenrub...
FTW">https://twitter.com/warrenrub... #007: https://twitter.com/warrenrubin_/status/1329638971215790082?s=21
FTW">https://twitter.com/warrenrub... #008: https://twitter.com/warrenrubin_/status/1329999116940689410?s=21
FTW">https://twitter.com/warrenrub... #009: https://twitter.com/warrenrubin_/status/1330726176818556930?s=21">https://twitter.com/warrenrub...
