What this Black Card Holder Could do with His 45 Million Amex Points

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Dave Portnoy, founder of Barstool Sports, recently made a video flexing his Amex Black Card at Rite Aid and showing off his 45 million Amex points.
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[@ezioaltairac]

I can tell you for certain that if Dave cashes out those points, he’s going to put them on some stupid parlay of the Patriots to win 20 games in a row, with the points, and Mac Jones throwing eight TDs per game.

[@MB-rr1fb]

Dave can't bet anymore since he opened Barstool Sport book...................But those bets were funny and sound like him

[@emmanuelozuna8822]

Sounds like a great bet though 😂

[@nsb2021]

@@MB-rr1fb what u talking about dude bets every week 😂

[@topten7526]

He’s going to eat more pizza

[@ezioaltairac]

@@MB-rr1fb He still bets…

[@AlexBerman]

Ego value of having 45 million points is worth more than 500k donated to charity. Also if he wanted to donate that amount he could do it without cashing the points

[@dannypants0000]

You should tell the government that. They piss away our taxpayer money on useless projects and wars, when they could've put it towards benefitting their citizens.

[@unitaper]

Dave has already done his fair share in donating millions to charities and businesses

[@SAsh-zg6ln]

U must not know pres. he’s donated hundreds of millions to charities and smaller businesses. He’s the type of rich person that actually enjoys his money and still gives back a lot. Also, during COVID, he offered to loan barstool money with zero interest so they can pay their payroll. He’s a good guy. Not a moral hero or anyt but he’d be the first to tell u that

[@AlexPerazaTV]

So you spend $500k on flights with AMEX platinum card, you get 2.5 mil points (5 points per dollar). Spending them at 0.06 cents per point (using the free flights option, such as Singapore airlines), that’s $150,000 in value. That’s a 30% cashback of the original $500k. Crazy!

[@iamjacquesbarjon]

Dave actually did start a foundation to donate money to businesses that were shut down during COVID (laundrymats, restaurants, etc.). Look up the Barstool Fund. That specific charity probably isn't as necessary now, but I could see him cashing it out and donating it if somebody brought that to him as an option. I doubt he probably even knows that he can do that.

[@mattvoigtlander]

Nice video. I saw Dave’s clip and got a good laugh out of the cashier naively saying he could probably go on a trip. Was hoping someone would do a reaction to it like this. Well done!

[@yannsylvester3680]

I think the First Class option is the most attractive for me. I don’t think Barstool owns a jet so he has to either charter or fly commercial. So I mean flying in the best first class every time he flies for the rest of his life while redeeming his point for like $2.9 million would be a greater value add in my opinion than the press on one $495k donation which in philanthropic circles is not insignificant but not a record shattering donation. That’s like the minimum YEARLY donation to have a board seat at a lot of larger NYC charities.

[@user-dw4cv3xq5u]

He charters, only.

[@stevepasquarella823]

I worked for a privately owned company that primarily used a Small Business AMEX Platinum card for paying suppliers. I would be the one primarily responsible for making the payments. We averaged several million a month in payments for our operating expenses. Before the company was sold, the previous owners had at least 18,000,000 points on the account and at one point peaked to over 20,000,000.

[@pahanin2480]

He actually uses it to pay business expenses and millions in personal taxes and churns points from his personal business

[@elvisherrera960]

The guy is worth over 100 million so his expenses are much higher he can rack up those points quickly.

[@24kGanksta]

I had 4mil with Chase Reserve and 2.4 with Citi AA earned this in 2 years traveling with a company.

[@SpencerJohnsonOfficial]

It's great to see all this love for the credit card game starting to come through from Dave's video. It's pretty awesome to think about all the stuff he could do with those points, but hopefully he doesn't just hoard them forever 😬 Fun video idea Ben!

[@sergiogutierrez2466]

Everybody is super generous when the money is not theirs.

[@robertcasanova6904]

Millionaires and billionaires look at there $$ as points. The higher your score the better your playing the game. So I'm not Surprised at what he says about Dieing with the points.

[@claus1225]

AMEX is not a good CC for most ppl. It's fact. I have them and they are nothing but nuisance.

[@andrewtobias4545]

Ppl also overlook the fact that you can deduct business expenses paid with cash or statement credits. But you can’t do the same with point redemptions since no cash was technically spent. That means that it could potentially even be worth more to cash out the points 1/0.63 tax deduction *1.1 Charles Schwab = 1.75 CPP. And this could be for any business expense, not just flights or hotels.

[@GoFastJames]

When talking about flights, what I found back when I would travel often worked well was pay full price for flights with in Amex giving you more point value then use points to pay it in the bill then on taxes expense it given your not directly paying the flight with rewards upfront was told this would work fine. More one cpa and tax strategist agreed when comes to taxes. Kind of double dipping. Would be nice to see more videos on taxes with dealing with rewards but with someone that actually knows the rules.

[@bee1979]

With that many points, forget luxury travel. Way to small. He could buy a very respectable house in the Midwest/South in cash points. Or use the points to 100% finance major renovations on one of those million dollar properties on the coasts.

[@Average_Middle_Aged_American]

I think the Amex cards should add rewards not just give different benefits. Make the gold give you all benefits of green plus food. Make the platinum give you all benefits of gold plus travel. Make the black give you all the benefits of platinum plus black card benefits.

[@thedufloth]

That’s crazy, I don’t even know how he allowed himself to accumulate so many points. I have 500k and I’m already going to spend it. 😅 Just to add here as well, he Does have the BUSINESS CENTURION card not the personal. I’m not sure if it changes how he earns the points.

[@ravensjewel-3886]

I think he should pass them to me. I’ll make good use of it lol

[@PatrickDKing]

Or you could just set up a bunch of shell companies and have each apply for sign up bonuses. You can apply at the IRS site for an EIN and get it instantly in a few minutes. Legally you don't even need to file with any states' department of state of corporation bureau equivalent b/c a long time ago a judge decided that it wasn't necessary using the promissory estoppel rule, saying if it looks and acts like a corporation but its only deficiency is the lack of filing paperwork, then it will be treated as a corporation. This comes up in corporate tax law sometimes. Ideally though, you should register with at least one state, especially if it is a real operational business. It's just one more solidification that your business is legit. Now, if you don't register the corporation, you may have a hard time convincing some moron lackey at a bank that your business is real. Some do request the formation papers, along with bylaws, and EIN. Technically you only need an EIN if you are going to have employees and/or file corporate tax returns instead of passing the income through on your personal return. It's just smoother to get the EIN, especially when some states will make up a dummy EIN for you if you don't have one but apply for certain things, like a sales tax license for instance.

[@MrSKlim]

Yup, Chase was adamant on needing EIN and state paperwork. Annoying. But whatever it’s fine we have it in multiple states due to our nature of work (commercial painting)

[@jalexb503]

Most likely gives his Amex to his coworkers. I’ve seen businesses use credit cards to make large purchases then use the rewards to give employees a vacation.

[@COBYJ10]

45mil Amex points has a 990k valuation

[@Whyitll]

I guess you're a "glass is half empty guy".

[@stateradio115]

he worked into his contract that he gets to keep all points used on his barstool business expense CC

[@broncorik2268]

I would take the 270k and go out it on black at the roulette wheel

[@javianjohnson8746]

Wow. Can't wait until I get my AMEX card now!

[@Philipseymorehoffman]

He puts $200k on a football game

[@SamSung-jv3jm]

I would buy a house and get a statement credit to cover it. Can't pass up free investment real estate!

[@bigboss-qv7pe]

Sleazy promo for credit cards

[@alanchen1010]

I can’t even get free flights with 200,000 Amex points because you have to be on a waiting list 😩😂

[@childishj]

I’ve been waiting for someone to do a video on this 😂

[@jalabi99]

I've never had a POS terminal tell me how many points I have on my Amex card when buying something before but maybe it's because I don't buy anything at RiteAid?

[@drrob001]

Interesting video thanks for sharing

[@GATOWN]

Dude casually has $500k in points

[@jasonhoppe781]

If he was to “donate” them to charity I think it would be more efficient to buy flights for people who can’t afford to travel. He can give away life changing experiences which hold much more value than a one time small donation of 500k to some charity.

[@SAsh-zg6ln]

He already donates a lot. 500k is nothing compared to the tens of millions he’s donated

[@josephdoan1355]

Thx dude

[@peterchen632]

I have never flies business or first class before. He should sponsor me one, I will never forget him😂

[@terrelmoss1444]

can you do best business cards for 2023 and product change rules for each issuer?

[@dragonninja598000]

He should use Rakuten to get more MR points. 😂

[@eliwilson3902]

Yeah I could definitely see me hoarding points as well. I don't have that many but still have probably a couple nights in a hotel.

[@dizzle6709]

OH THANK GOD!!! When he bragged about this shit (havent watched the video yet) I wondered wtf he could do with those points.. I was driving at the time and could only calculate them in my head. Ive lost alot of my credit score Ben... :( I am in between jobs - peaked out at 795!! its like 700 now because ive took on alot of debt waiting for this new job to start!

[@thatguy7085]

Many business owners get the points for the cards employees use.

[@nat5112]

So when did Credit Shifu became Ben Hedges!? Lol

[@rickc.3552]

Can you have a Centurian and Platinum card? I always thought that once you accept the Centurian invitation, your platinum was no longer valid.

[@llary]

I'm a Centurion cardholder, you can absolutely hold multiple Amex cards including Centurion and Platinum, in fact depending on your country the platinum card and some supplementary cards are free. Most Centurion cardholders prefer to use gold or platinum for everyday purchases to avoid drawing attention.

[@rizwanirfan5249]

@@llary how much did you spend monthly before you were invited? also do verify your income too

[@maltebay8135]

I have a weird question. If the guy who bought the painting were to sell it for the same price, would he still keep the points? If that is the case, there have got to be some loopholes to get infinite points, no?

[@NCKyle1980]

Yes because he completed a transaction. Reselling would not be a refund. Same as if you bought a PS5 at retail and resold for profit. You would get same deal.

[@OutstandingO]

Honestly... I think he should donate some of those rewards points to me. With a family of 5, I could use it to take a nice trip.

[@kazama850]

Quit having kids. And you could.

[@suitcafe]

I don't think El Presidente is worrying about points or using them.

[@spakjoeXD]

I thought this was going to be about the guy from China... Who buys all of his paintings with his Centurion

[@GIJew]

Donate $500,000 to charity? Hahaha. $1,000 of it will be used for a good cause, the other $499k will mysteriously disappear. That's what charities do!

[@TheCreditShifu]

I guess it depends which charity

[@le9335]

You can research which charities act better than others. Easy tools available online.

[@user-uv6oe1ns6r]

So true my girlfriends a social worker works for a ton of non profits they are all corrupt

[@marshalljensen32]

I thought those were Rite Aid points. I’ve never know Amex or any credit card to post your rewards on the screen.

[@AM-nm1oe]

Don't forget centurion redemption bonus since it's prob a business centurion

[@TheCreditShifu]

Thats only on bookings through the travel portal, but yeah you are right, 50% if he does it that way

[@Hug_life]

I’d throw my mate Dave a Birthday party

[@WillHal1000]

If you cash out your cash back points is that taxable?

[@TheCreditShifu]

No

[@ChrisEckman]

How much safe moon does it buy though?

[@riskingmybiscuit4209]

He can thank the pizza shops for 45 million thats a lot of pizza.

[@Luciidreamz]

Pocket watching is crazy

[@richardliu7499]

Wait until I can get it........

[@MGMG007]

Cashing in the point is dumb, he has money, he doesn’t need it, his pride would take a hit loosing those points, then he would try to collect them again

[@NCKyle1980]

I like your CS idea and donate, but add a twist; since there is a cap, change the charity every cap. Spread the philanthropy. I hope you and your family have a Happy Thanksgiving, sir.

[@TheCreditShifu]

Yeah 4 million points each

[@chriswalker83cw]

Meanwhile in the UK hardly anyone takes AMEX

[@jdiluigi]

AMEX has way higher processing fees for businesses. When i ran a pizza shop back un the day thats why we didnt take Discover card. If it wasn't for all the corporate events that usually use AMEX we would have refused accepting them. But making less money is better than none at all if they went somewhere else.

[@LMays-cu2hp]

Hahaha! thank you for sharing..

[@keltecdan]

He could get a Richard Mille or Patek Philippe 5980.

[@boogeymanw9643]

you can see your points and use it for in-store shopping? what??

[@GQBRYANT]

Ben you think he’s using other amex cards such as platinum , gold, & green or he’s putting them all on the black centurion. Because he could’ve used the gold on ride it and it would count as 4x on groceries instead of the black for just 1x lol 😂😂

[@GQBRYANT]

RITE AID *

[@nychris2258]

Im sure its accumulated from all Barstool employees on one account.

[@SMARio23]

Well if I had that first class to Paris here I come

[@AnthonyVenture]

I love this haha, funny, I did a video on Liu Yiqian and called him Liu “Youqian” as you would already understand the joke Ben haha. I tried to do the same to break down the point value and CNBC stated that with Liu’s Amex points, he could travel from JFK to Hong Kong 677 times I believe which is enough for him, his children, his children’s children and so on! Great video 师傅！

[@orlandoalessandrini2505]

I know I'm against the majority, but i can't stand Portnoy.

[@Psylliumhuskie]

Oh! snap

[@orlandoalessandrini2505]

@@Psylliumhuskie ?

[@MaqAttaq1]

How much is the cost for every $ he spent?

[@ceciliaruns72]

I want more MR points....send them my way!!! 😆 🤣

[@gilbertnicholas1582]

He could book first class flights for his employees

[@G2Precision]

I get statement credit of $1 for 100 points on my Centurion card.

[@kenreynolds1000]

Racking up points is a nice, but points don’t get interest and suffer from inflation. Holding them for 20+ years is like stuffing money in a home safe. Ok for a few k, but dumb when you are talking 6+ figures.

[@TheCreditShifu]

Still suffer from inflation im afraid

[@Rainy_Day12234]

Are points taxed?

[@joebasso7042]

1.5 points on over 5k transactions

[@2017phattang]

Not his owner money , stopped because everyone is steslers from my owner accounts business ,but I'm not approved for them to do my owner accounts business enterprise ..

[@nick31427]

**Black Card Holder** ...clearly a white guy

[@TheCreditShifu]

i see what you did there...

[@maxdragon15]

Davie Pageviews, take the advice!!

[@kingzts]

rich people love convince of ONE card. Dont think to hard about it. It’s all black card spending

[@BronxY2k2]

It would be nice if amex points could be passed on to a significant other or child who is old enough with an amex account legitimately. Kind of like your lottery winners.

[@mgutierrez097]

I 100% agree. I just got my brother into AMEX and would love to help him experience the perks of the card. Or it would be even cooler if we could donate points to others within the AMEX network, like a close friend or girlfriend

[@BronxY2k2]

@@mgutierrez097 That would also be awesome too.

[@davidpham9353]

With that kind of points, he can easily convert to cash/ other assets to reinvest to tons of businesses/ investment rather than having that being dead for nothing. I got average about $3M+ points yearly from my Chase/ Amex and never ever keep 10%+ of it at the end of the year. My ROI is much higher than keeping it or just converting it to airplane to get only 2x.

[@keltecdan]

If you’re a billionaire you’re most likely chartering a private jet.

[@kingdomsbricks4762]

Breh “this video is really popular “

[@TamerRashdan]

Very stupid idea, AmEx can just close his account and forfeit all his points and he can’t do shit about it

[@TheCreditShifu]

he doesn't care, he's not going to use them, he has so much money doesn't care for points

[@NN-sp9tu]

@@TheCreditShifu idk those points are still like .5% of his net worth. That’s not nothing

[@TamerRashdan]

@@TheCreditShifuno matter how rich he is, 45 million reward points are alot

[@stricnine69]

1 point, everybody knows the rules.

[@upindaug43]

It's obviously from buying pizza every day...

[@AbcXyz-lv5iv]

Roughly $270,000.

[@physicsudel2013]

Or Amex gave him the points to shoot the promotional video

[@briancorrell]

Why did you not put his name in the title

[@TheCreditShifu]

should I? Is there some rule?

[@No-ri7xs]

What happened to Generation Tech?

[@TheCreditShifu]

So me and Allen used to be in a company that included Generation Tech, Generation Films and this channel. In may this year we split it up. Allen has Generation Tech, i have this channel and American Ben has Generation Films

[@No-ri7xs]

@@TheCreditShifu Why did you split up? You were amazing in generation tech!

[@TheCreditShifu]

I was just getting burned out and running out of ideas for sci fi stuff. Needed a break. I want to watch sci fi shows without having to take notes for a video script lol

[@No-ri7xs]

@@TheCreditShifu It was an amazing few years, especially your 2017 videos, with star trek & the scale of the ships. Remember the winnebago?

[@No-ri7xs]

@@TheCreditShifu Maybe make a guest appearance on one of his videos tho, would be fun.

[@davidportnoy]

🤔🤔🤔

[@AryanSingh-zw3oq]

Just give the money to me man.

[@MB-rr1fb]

Come on, we all know Dave Got those points vis CHURNING cards, lol

[@Samsonight33]

What is Dunatin? Portnoy donates and ran the large small business donation during covid.

[@TheCreditShifu]

Thats great, so he already has an organization to donate it to

[@WhoDeanyUnchained]

I think he should not bring so much attention. I can see legislators looking at this and wanting to count that as taxable income...

[@TheCreditShifu]

True. Although he doesn't care about the points. Throws everyone else under the bus though.

[@salc8724]

That’s a lot of pizza purchases…

[@jbig6650]

Take all barstool employees of 5+years of employment on an amazing trip

[@JonnyMReck]

Lost me at the donation piece - charities are a total sham

[@TheCreditShifu]

He apparently has his own charity, so he could just donate it to that

[@mith2946]

Not all charities are a scam

[@hp_overload]

500k in peanuts to him

[@loranv3435]

ANY SICK KIDS HOSPITAL.