Is the Credit Card Game Even Worth it?

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[@kudude12many]

Bros going through SUB withdrawal 😭

[@jakemercure]

It really do be like that sometimes

[@ntrlbrnpnoi]

You caught the sentiment I have perfectly! The approvals and SUBs are great but then when you get that first, second, etc. denials, it really messes up your peace. It’s really not good to have to spend that much either for the “pennies” or “crumbs”

[@jakemercure]

Right, its important to know whats going on with your cash, rather than how much points you are making.

[@MontyTheCardNerd]

Well said Jake, I think statement credits often get you to spend more than you should've. You justify saving $100 on a $150 purchase when really you could've been happy not making the purchase at all ... $0's always less than $50 right!

[@jakemercure]

exactly, so many people can do without buying things they dont need. Lots of overconsumption and the CC game pushes people harder

[@CheckRaiseYou08]

I like you more, and more every day, thay you make "real" content like this!

[@H20K9]

I feel this so hard. Currently have like 12 card. Did all the math and I can get 890 in cashback if I just use the freedom unlimited. 1100 if I use 2 cards. 1270 if I use like 5 lol. I’m going back to 1 card and I’ll get like a SUB once a year. I have plenty of cards that I can bring 2 others when I travel or have a special purchase. The headache became too much and it’s not worth it to me anymore. I’m going to focus on saving money. Not going out one Friday night could be like a year of cash back for a card.

[@jakemercure]

Exactly the point I was trying to make. This guy gets it 🤝

[@MusicalAspie]

I totally understand what you're saying. I'm leaning towards simplifying my setup. It's possible to get more value from a more complex setup, but as it is with all things, it comes with a price. For example, I'm thinking about cancelling my Amex platinum card, because it's definitely a high maintenance card.

[@Sci-Fi_Fan296]

I agree and am in the same boat considering canceling my Amex platinum soon as well for similar reasons.

[@maxcohn3228]

I really think the most gain for the smallest input is the way to go for most people. Honestly, if i could go back in time, I might just have a single 2% card and call it a day

[@hudsonhooper]

Credit cards are a fun thing to worry about sometimes but I think they are only worth worrying about until you get a long term set up that covers your categories of spend

[@ItsMeCJ]

I’d say that I have wasted some money getting cards that aren’t for me. Exhibit A: The Amex Gold 😬, however, I’ve never overspent to meet a welcome offer. Ultimately, the banks know that my actions fall in the minority of people and “bank” on most people doing exactly what you shared. Keep grinding brother 🙌🏾

[@Re3iRtH]

Couldn't agree more. The biggest mistake people make is thinking they are smarter than the banks. All of the time we spend on this is a very low value activity, it's simply a hobby

[@Sci-Fi_Fan296]

I definitely am striving towards a simpler credit card system and focusing more energy on financial freedom and less on credit card rewards. You’ve earned some respect from me in having this open dialogue about this issue. Cheers

[@JazzyMarineVet]

Yes, they do plan this game to GAME us. BUT if we are are wise and strategic, we can come out on top. A. Venture did a video this weekend about transfering Amex Schwab Platnium MR points as a transfer to the brokerage for IRA. So there can be some value, outside of travel.

[@jakemercure]

I think that is a great strategy for MR points. I would love the Schwab Plat someday

[@rmknicks]

I literally just got back from Belgium today. The biz class seats were paid for by points as well as the hotel with IHG points. But yeah man, I feel what you're saying. I'm thinking of simplifying and killing the VX, for example. great video as usual!

[@Matt_Lopez]

Simplicity the name of the game Jake , multiplier grinding will keep you sane , doesn’t require much attention , and the SUBs the sprinkles on the top

[@JoseSantiago-yq7co]

The game is not simple and like everything else, requires discipline. Is it worth it? Could time be better spent more profitably elsewhere? Probably.

[@TheDjim49]

I’ve had this question before, and it makes sense for me. I track everything, so I know what goes in and what goes out. This hobby has allowed me to create memories with my wife and kids that would not have been possible. I see points as potential memories

[@DCGEMINI202]

Thats a decent setup. Keep going harder!!!

[@caribdude8151]

Yes Sir! Happy Monday! 👍

[@De_Guatemala]

After having travelled to 73 countries and six continents, I say, yes, credit cards are valuable to me. I will visit 7 more countries this year in Europe and South America...flying in lie flats (LOT and LATAM).

[@rmknicks]

Good luck with LATAM. I had a horrendous round trip with them.

[@fogrunr5075]

Last Christmas I spent $2,750 on Delta-Korean Airlines roundtrip ticket. I'm already booked for December 2024 $900. And along the way, I've earned points and cash back $200.+ 900 + 750. If you have points to transfer that's good. But simply booking direct for an excellent price Is great!

[@theclown888]

Like anything, it comes down to planning. Purchase things you would buy anyway. Use tools that fit you, don’t mold yourself to fit the tools.

[@callmeNeno]

I am definitely gardening for the rest of the year : no credit applications for 2024. I have 11 open credit cards and exactly at 5/24. I have my eye out for CSP or ink Cash for next year. I am taking a break burnt out.

[@LukesPointsandMiles]

💯. I have a great example. I’m currently working on a large SUB and I just bought a new watch that I would NOT have purchased otherwise. But hey, gotta hit the sub right?

[@jakemercure]

Yeah its hard to know what we would have otherwise done. I would totally watch a video about your watches if you somehow could make one

[@dylanschang6386]

I mean depending on the watch it can hold its value and you can resell... kind of a hack with SUBs not gonna lie

[@benchoflemons398]

Bank bonuses, Chase inks, and a sapphire reserve will keep you chillin

[@Jesus-kt5dc]

2:53 They can rip it, right out of us. Which explains the high pitch voice.

[@LK_EBM]

Not sure how much time people are spending on the credit card game. But that time might be better spent working overtime, furthering your career, or starting a side hustle.

[@BobI-jb4rk]

We are the product being bought and sold.

[@robert8311]

Only get a card if the multipliers help me and it’s on auto pilot 2x freedom flex bc I might need home improvements soon Autograph 3x in almost everything Savor one for groceries Bilt for rent and that’s all I got only card I might add is active cash or sapphire but no more cards for me

[@truchillztv642]

Is it worth it? Short answer: No. …maybe If you make a lot & spend a lot…or you time it right: have a big spend coming up, maybe it might make sense to “churn” a card for that one time “welcome offer” one time hit.

[@cosmic_muffin]

smartrip card..are you in the dmv?

[@Cody.Little]

Are you kidding I love spending more money than usual to hit those SUBs 💯🔥

[@robert8311]

Don’t need 15+ cards in at 6 and I’m only getting small bonus for things I had to pay for any way Medical bill Travel General bills All no annual fee cards

[@fogrunr5075]

It's worth it for a short period of time when you need to travel, or want to travel.

[@L_____E_______IT]

Jake- you’re doing it wrong if you’re stressing out over this. Take a breath, use a couple cards to pay your bills, and the points you earn are nothing more than extra gravy… think of it as a bonus you will eventually cash in on when the time is right and you have enough points… don’t be chasing SUBs and stressing out over this shit. Don’t be overspending just to earn a bunch of a points. One dollar is always going to be worth more than one point/mile….

[@MoneyMace]

You’re not in credit card debt are you? If so the game is killing you

[@MrHawaiiboy510]

So we should be careful when chasing sign up bonuses? Make sure it makes sense before you get in over your head?

[@scrumpy615]

I love the grounded reality of this channel!!! *Retirement took a toll on my finances, but with my involvement in the digital market, $15,000 weekly returns has been life changing. AWESOME GOD* ...

[@lucassilvaoliveira6064]

I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do ? Thank you

[@scrumpy615]

Well I engage in nice side hustles like inves'ting, and the good thing is I do it with one one of the best(Jeff Clark), he's really good!

[@mikeyreacts5839]

Jeff demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

[@codecreateurroku6764]

I'm surprised that you just mentioned and recommend Mr Jeff Clark. I met him at a conference in 2018 and we have been working together ever since.

[@채은우CHAEUN_WOO]

Sounds interesting. I was planning to invest some few £ in some coins, stack them up and leave them for a few years, but seeing this changed my mindset. Thank you very much

[@adrianvilchis8113]

its a hobby.. like everything else

[@JQuint_]

Take my like and subscribe, sir

[@stirlingstephens6293]

I get what you’re saying and I have these thoughts sometimes that I spend more money than I might otherwise if I didn’t have SUB’s to work on. But I will say in the last year the travel has been amazing. I will have stayed 15 nights at Waldorf’s in Maui, Orange County, and Cabo for $1.5k out of pocked which would have been $21k all from signing up for three cards. While I never would have paid that normally it definitely is making my life better experiencing these places. So to me the game is worth playing even if I may spend a tad more as I do get several thousand back per year in return.

[@Xavier_ID.]

👍🏼👍🏼

[@johnnyappleman7159]

Sam Hyde was the first to the punch, with cred maxing to buy Bitcoin lol

[@scrumpy615]

I love the grounded reality of this channel!!! *Retirement took a toll on my finances, but with my involvement in the digital market, $15,000 weekly returns has been life changing. AWESOME GOD* ❤️