my mentor saved $10,000 by using credit cards for med school apps & rotations in med school

@ethicalmed

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Why it worked

The video taps into a common pain point for pre-med and med students (high costs) and offers a seemingly lucrative solution, while also incorporating a strong cautionary element that encourages engagement and discussion.

Summary

The creator explains a "hack" where pre-med and med students use credit cards to earn points on expenses like applications and rotations, which can then be redeemed for flights or to pay off balances. She emphasizes the significant savings potential but strongly warns about the risks involved if not done correctly.

Structure

1Introduction of the hack: saving money on med school expenses with credit cards.
2Explanation of the process: spending to earn points for flights/payments.
3Emphasis on the potential savings ($10,000).

Original caption

#medschool #amcas #medschoolapps #premed #medstudent

More from @ethicalmed

Product placement

Chase Sapphire Preferred Card: ACTS - it is a credit card that the creator is discussing how to use to save money. Removing it would change the video's topic. It is a financial product.

On-screen text

my mentor saved $10,000 by using credit cards for med school apps & rotations in med school 😩😩😩 Chase Sapphire Preferred Card $95 5 points per dollar booked via Chase travel portal 50,000 points No lounges *very dangerous hack if done incorrectly- PLEASE RESEARCH*

Transcript

I just heard that pre-meds and med students are opening credit cards in order to get a discount on med school apps and rotations when they're on them in med school. I'm flabbergasted. But basically what they're doing is they're spending a certain amount of money in a short period of time that they're telling you you have to spend money in, which is like not typically what pre-meds are doing. And then they're getting points they can use towards their credit cards, like paying that stuff back off. And in addition to that, they're taking those points and using them for flights. Oh my gosh. I cannot stress enough how dangerous of a hack this is if you don't know how to use credit cards. So please be mindful, but if you do it right, and you do a lot of research on it, sounds amazing. Don't do it if you don't know how to use credit cards and you're a little afraid because there's a lot of things that go into credit cards. This isn't something you should just like willy-nilly do, okay? But my friend was like, I saved $10,000 doing this. I was like, Oh my gosh. Oh my gosh. Crazy. My friend was like, I saved $10,000 by using credit cards for med school apps and rotations. Mind you, he also did this when med school interviews had to be in person and now we have Zoom, so like it's not the same, but when you're doing rotations, still applicable. Use this one very sparingly. Be smart about this. Do your research. A lot. Use credit karma. I don't work for them. I just love them and use them a lot.