this works usually when you are in a high output company constantly needing supplies. you also have to be in the position to spend that koney. I know some people use their personal card and are reimbursed by the company, so you'll quickly earn alot of cash back. like he said he uses it for everything! so it makes since that he gets 20,000 back.
It's a capital one spark business card. I don't know if they offer it anymore, last mailer I saw offered 1.5% cash back. I got on that 2% deal as well, but I only buy roughly 300k of stuff a year :( I need to step up my game
WOW!! Exactly what I do!! I pay EVERYTHING with CC. If you don't have money to pay them off every month, DON"T USE Credit Cards!! Great Video!! So many people don't seem to understand this concept???? Idiots...
I buy everything with credit cards and pay it off right away. I get cash back, accidental merchandise damage protection insurance, buyers remorse return allowance, and EXTENDED warranty. Extremely valuable services. But pay a bill late and you will see how they can offer this!
Great tip. Was wondering. With credit cards. If you are in an accident, and are incapacitated for 2 months. Would you have to pay the interest, on all your credit card payments, that you could not pay?
Do you think its worth it to sell on ebay if you already sell private label on amazon? I havent sold on ebay in years but remembr all the scammers and issues with ebay
3 month worth would be $50,316.00 a month spending. If your paying off the bill each month,then there losing money because they don't make interest off you. Won't they catch on? 3 months would be $150,948.00. What you spend 3 months on, it takes me a year to make that. Time to ramp it up a little :)
He has a Capital One letter on his hand. I looked and it is possible with a business credit card that has unlimited rewards with a 2% return. If the math is correct he does need to spend 1 million dollars a year to receive $20,000. He does mention 2% return on the video. However, the point of the video is not to show you how to make 20 k but to show us how easy it is to make money back with money we are spending anyways.
Credit card companies charge like 3% to process charges, manufacturers raise their prices 3% to compensate, this guy pays an extra 3% to get 2% back. The Idiocracy.
Decent video with nice proof, but you forgot mention what type of card you use. Sure it's capital one, but which one specifically? If you want to help us out, tell us what you're using. Of course it's easy to go google and find out, but you presenting this video should tell us.
I have chase freedom and get 1% unlimited on all purchases and 5% on rotating categories (on up to 1500). I notice a lot of cards are doing the unlimited 2% instead of the larger rotating categories. I would guess he is using the Spark business card from capital one.
I went and researched and figured it was that card. I have a few cards that are usually 1%, but I was curious which provided 2%. But if he's making $20,000/year on returns that's equivalent to spending $1,000,000/year. Interesting huh?
***** Yeah it takes money to make money unfortunately, I just wish I knew someone with a business that would let me give them my card to make purchases on and collect the interest lol
So you spent 150000 using your cc. 2 percent would give you that. Question is though paying cable bill and groceries isn't going to bring you anywhere near that. So stop the bs and tell people what you spent 150k on. And do you spend 150k every two months? If so that means you earn more than a couple million per year.
Bro there is no way in hell your making money on cash back. Banks aren't just giving out free money they know they can cover the cost of any cashback given in interest, transaction charges, and fees. It is a ploy to get stupid people who don't understand that businesses cant make money when operating at a loss to buy a credit card.
Robert I have 4 cash back credit cards at 2% cash back , if you spend enough money then you would get higher amounts back . Also cash back is only paid to you once the balance is paid , so if you pay it off monthly then you'd earn the cash back monthly
It's a way to encourage people to use the credit card. Merchants pay swipe fees that are significant but they do it to get the business. Banks passes on a small portion to the card holder to basically incentivize consumers to squeeze more fees from merchants.
Ok so what's next after selling us this snakeoil, take off our shoes and sell them to us? Just subbed today but, I am already looking at your sideways now. All them too-good-to-be-true stories, we've been there before trust me.
