I own 7 CREDIT CARDS

@cindyandcheese

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Credit Cards (General)

Why it worked

The video provides practical, actionable advice on credit card management and maximizing rewards, resonating with viewers interested in personal finance. The creator's clear organization and specific examples make the information easy to understand and apply.

Summary

The creator details how they strategically manage seven credit cards to maximize cashback rewards and track expenses. They explain the specific categories each card is used for, such as subscriptions, Amazon purchases, rental property expenses, and travel, to optimize their financial strategy.

Structure

1Introduction of credit card ownership and total limit
2Explanation of expense tracking strategy using credit cards
3Detailed breakdown of each credit card and its specific usage category
4Discussion of cashback rewards and annual fees for each card
5Mention of travel card and sign-on bonus strategy

Product placement

Wells Fargo Autograph (ACTS - used for food, gas, tolls, earns 3% cashback, removing it would change spending strategy) Chase Freedom Unlimited (ACTS - used for Amazon purchases, earns 1.5% cashback, removing it would change spending strategy) Capital One Quicksilver (ACTS - used for rental property expenses, earns 1.5% cashback, removing it would change spending strategy) Discover it (ACTS - used for improvement stores, earns variable cashback, removing it would change spending strategy) Bank of America (ACTS - used for subscriptions and miscellaneous purchases, earns 1.5% cashback, removing it would change spending strategy) Apple Card (ACTS - used for miscellaneous purchases and Apple Pay, earns 2% cashback, removing it would change spending strategy) Chase Sapphire Reserve (ACTS - used for travel, earns points, has an annual fee, removing it would change travel spending strategy) VantageScore (APPEARS - a credit score metric, removing it would not change the video content) Amazon (APPEARS - mentioned as a usage category for a credit card, removing it would not change the video content) Netflix (APPEARS - mentioned as a subscription, removing it would not change the video content) Apple (APPEARS - mentioned as a payment method, removing it would not change the video content) Home Depot (APPEARS - mentioned as an improvement store, removing it would not change the video content) Amazon.com (APPEARS - mentioned as a purchase category, removing it would not change the video content)

Original caption

I own 7 credit cards, have an 800 credit score, and a total credit limit of $98,000. Here's how I organize my credit cards to maximize cashback rewards, track expenses, and manage my finances efficiently. From cashback categories to travel rewards, every card has a specific purpose. #CreditCardTips #PersonalFinance #CashbackRewards #CreditScore

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Transcript

I own seven credit cards and have a total credit limit of $98,600. This is how I manage them. I never use my debit card. Every single purchase that I make, I put it on a credit card. My expense tracker is organized by credit card. And under each credit card, I have exactly what category to use the card for to maximize cashback rewards. That way I can be sure that I'm maximizing the cashback rewards. So this is how I manage all my credit cards. I'm gonna go through my list of credit cards based on when I applied for them. So the very first credit card I applied to when I was 18 was with Bank of America. This credit card, I earn 1.5% on all transactions. This credit card I only use for my subscriptions and the only subscriptions I pay for is Netflix and my grandma's phone line. This credit card has a credit limit of $13,900. I earn 1.5% cashback on all transactions. This credit card I only use for my subscriptions. And the only subscriptions I pay for is Netflix and my grandma's phone line. No annual fee. And the only subscriptions I pay for is Netflix and my grandma's phone line. I have the Chase Freedom Unlimited card and I earn 1.5% cashback on that card as well. And this one I only use for Amazon purchases. And I order from Amazon at least once a month. I have a Capital One credit card and that one I earn 1.5% cashback as well. And this one I only use for my rental property expenses. So when I have to file my taxes, it's just so easy to just pull up my credit card statement. I have the Discover card and this one fluctuates what I use it for because of the way that the card is set up. You earn 5% cashback depending on the category for that quarter. So right now it's 5% back on improvement stores, which was perfect timing because I am selling one of my properties. So all my Home Depot runs, I put it on this card, which was kind of nice. My Wells Fargo Autograph card, I only use for food, gas, and tolls because I earn 3% cashback on those categories. So I have the Apple credit card and this one is 2% cashback on any purchase that you use that you use Apple Pay. So this one's kind of miscellaneous. I use it for clothes, grocery stores, just any category that I did not mention and I use Apple Pay, then I use this card. The most recent card I applied for was the Chase Sapphire Reserve card, and this one is a travel card. And this one I plan on using it for booking flights, hotels, just anything related to travel. But I do have to spend $6,000 in three months in order to get the 150,000 points for the sign-on bonus. So any big purchase that I have the next three months, I'm gonna put it on this card.