Use Credit Card Bonuses to your Advantage and Make a Killing


credit card bonusesWhen most people hear the words credit card,❠they usually shut down and stop listening.   With the irresponsibility of big banks and credit card companies in the past, this reaction is totally understandable.   Heck, anything related to borrowing❠and most people run for the hills it seems!   However, I want you to read this article closely.   Please pain attention because credit cards are not evil.   In fact, most people don’t realize the simple fact that you can make money off credit companies risk free with no consequences!

I call what I’m going to explain to you the credit card shuffle.❠  It’s a money making strategy I personally use to make money off of the credit card companies and never have to pay a cent of debt!

At the core of this strategy is what is called a sign-up bonus.❠  This is usually a large cash value bonus that a credit card company offers someone to entice the person to open the card.   Your average credit card company is banking on the fact that you will open the card, get the bonus, and then rack up an obscene amount of debt.   The numbers are definitely on the credit card company’s side however there is a small percentage of people that belong to the group that these companies consider sunk costs.â

I’m someone who uses a credit card but never pays a cent of credit card debt.   How can this be?   It’s rather simple.   I’m always on the look-out for a new credit card bonus and open new credit cards to receive these bonuses.   While I typically use my Chase Freedom credit card for everyday purchases, I’m always cycling through new credit cards to cash in on big rewards bonuses.

It amazes me how many people have no idea they can do this.   I truly believe people assume that there is some catch that these credit card companies are trying to pull.   Well guess what, there is no catch!   This is truly free money and it requires ZERO work!

My yearly plan

I’m going to let you in on my secret recipe for credit card bonuses.   I like to open around four credit cards a year so this comes to around a new credit card each quarter.   This may seem like a little much but when you make $500 in bonus rewards, you will start smiling.

It’s important to point out that I don’t always meet my personal quota of four credit cards a year.   Sometimes the bonuses for top credit card companies are just not worth my time so I just wait.

Another thing to bring up is that some credit cards I open are not cash bonuses.   For example, I just opened the Chase Marriott card and received 7 free nights for opening the card.   For me, this is just as good as cash because I love staying at hotels once in a while!   If you crunch the numbers, the average Marriott is going to cost you $100 a night.   At seven nights, the bonus reward for this card is $700.   Not bad for simply opening a card!

After completely using up the bonus money from the opening of a credit card, I usually close it.   Many people say that you should never close credit cards, but I typically do.   I don’t like to have accounts open and have the chance of identity theft.   Yes, it may ding my credit score temporarily but credit scores fluctuate all the time and I’ve never had my credit score not recover.

Any drawbacks to playing the credit card shuffle?

As I’ve just mentioned about credit score dings, at the end of the day this is something you really shouldn’t worry about unless you’re about to apply for a mortgage.   In that case, you’d want the highest possible credit score.   Like all things in life you should consider all the variables in life and ask yourself if it’s worth it to open or close a credit card and have a possible credit ding.

Real bonuses that I currently recommend

Here are a couple credit card bonus promotions I can recommend to you because I’ve personally received them.   Not only are the following companies extremely reputable but they also offer awesome customer service.   I know because I’ve called them and asked them random questions on purpose to see how they react.   They all get an A+ from me so far!

Barclaycard Arrival World MasterCard — $89 Annual Fee Card  (my every day purchase credit card)

The Lufthansa Premier Miles  (opened this one for 20,000 award miles awarded upon first purchase)

Barclaycard® Rewards MasterCard  (scored $100 cashback)

The Priceline Rewards  (Got 5000 bonus points immediately. Great bonus point offers)

What card will you be opening?

Now that you know how I make thousands of extra dollars each year, will you be joining in on the fun?   While credit cards can be dangerous, you need to realize that you can take advantage of credit card companies and make some easy cash!   It’s super easy and can really benefit you especially in this tough economy.

photo by PT

Written by Jon the Saver

This post was written by yours truly, Jon Elder. My mission is to help you succeed in your personal finance life. Join me on the journey to financial freedom! You can subscribe through RSS FEED or EMAIL updates. You can also find me on TWITTER
and FACEBOOK
. Happy investing 🙂

Jon the Saver

This post was written by yours truly, Jon Elder. My mission is to help you succeed in your personal finance life. Join me on the journey to financial freedom! You can subscribe through RSS FEED or EMAIL updates. You can also find me on TWITTER and FACEBOOK . Happy investing 🙂

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