Sup /biz/raelis
I'm 19 with 6 months credit history but was accepted for an Amex platinum everyday cashback card, which gives me 5% cashback on up to £2000 spending in the first three months.
I'm /frugal/ so that normally wouldn't be possible for me, so I was wondering if /biz/ had any advice to utilise this offer without actually spending much. I'm using it at every opportunity and even buying things for other people on it in return for cash, but I won't make it unless I do something
Pls respond.
How can I spend money on credit for cashback and profit?
>help /biz/ how do I play into the banks hands to be a wagecuck my whole life
>>1013326
I don't see how I'm doing that at all. I'm just using it for everyday expenditure. It's a free card so I pay nothing. Credit > Debit > Cash anyway.
I've never paid interest. There would be no real economy if everybody was like me.
What's your problem?
What's the interest rate?
Maybe you could stooze the card on things like microloans. You'll get more profit over time than the £100 you'll get from cashback.
>>1013315
if you know someone you trust, and at least have a backup plan. you can ask them to buy somethign with your card and pay you back in cash, that way you can repay the card.
i did this with a chase saphire to get the 40000pts(~600$)
>>1013315
I pass it to my mum to do groceries. Whatever she spends she pass it back to me in cash. Told her not to give me any spare change as an incentive
>>1013363
This one is 19% but another one I have is 0% until July and one I intend to get in a few months is 0% for 24 months.
>>1013377
This is really your only recourse. If you're autistic and don't have this then you should really only use the card for the occasional purchases and not change your spending habits. I know that when I got my first rewards card I got into the pleb mentality that I'm earning money by spending for one month, but that's really never the case. You only earn by investing.
Don't get caught up in trivial credit card benefits. Those are just marketing incentives. If you actually want to build your credit you want to utilize as LITTLE credit as possible. Building credit saves you a lot more money in the long run than the little chump change you get from cash back rewards. If your utilization goes above 10% you're doing it wrong.
(OP here) Tried to use it today for a family member's shopping and they wouldn't accept my card because it's an Amex. Feels bad man.
Just used my MasterCard with 6 months left of 0% interest.
>>1014769
I use credit wherever I can and pay it off in full at the end of the month... the exception being stoozing. That's not an issue, surely?
>>1013315
don't use it for anything you wouldn't have bought anyway, otherwise you'll be a poorfag and remain such in no time
OP will be back here in 3 months crying about how much trouble they're in with Amex.
Only poorfag losers use credit cards
Manufactured spending.
Maybe post some nudes and get a better response *shrug*
>>1015656
Have anime boobs in a sweater.
>>1013315
5% cashback on $2000 spending.... or will the cashback not exceed $2000?
Because you seem to be asking how to go about earning $100 in 3 months - about $1 a day
$ sign used because cbf finding pound sign
>>1015722
5% on £2000, so £100 max.
Also: cntl+c; cntl+v.
>>1013315
You can actually do this as a part-time job, of sorts, for maybe $1k/month ~~ $100/hr. But I have actual expenses. Paying my rent with a money order and such. Not sure what you'd do in the UK with no expenses.
>>1013315
get a Serve one VIP, buy VGCs and use them to put money on the serve account and bill pay your amex card.
>>1015692
/cheapfag/ what are the rewards categories.
>>1014769
Yes goy don't worry about cashback or minimum spend bonuses, you'll never get to fly anywhere you want in first class for free.
>>1014769
>at least 2% cash back on purchases I would otherwise make anyway
>chump change
Amex Blue Preferred
>Groceries (6% cash back up to $6k in purchases)
>Gas (3% cash back)
>Department store purchases (3% cash back)
Chase Ink Business Card
>Cell phone service (5% cash back)
>ISP/Cable TV (5% cash back)
>Office supply store purchases (5% cash back)
Citi Double Cash (2% cash back) for everything else.
>>1015887
>tfw britbong
I don't know this feel senpai
>>1013315
at your age your goal is to simply establish a line of credit so that you can begin your credit history. Get a credit card or two, don't charge more than 10% of your limit each month and pay off the balance in full every month. I REPEAT DO NOT SPEND MONEY YOU CAN'T AFFORD TO REPAY MONTHLY.
Request credit line increase once every year or two.
>>1015902
O-oh. I have the money to cover my 0% card in the bank right now but I have no financial incentive to pay it off immediately.
>>1013323
Go for a card when you know you will need to make enough purchases to hit the spending goals for the reward amount.
>car needed tires
>got an offer for a card with $100 back for spending $500 in 3 months
>got card
>got tires for $350, put another $150 in normal spending on card
>got $100 back
>paid in full every month
I used someone else's money for a few days and got $100 from them for it.
>>1015902
>>1014769
Utilization matters little for credit scores. Payment history and age of accounts is a far bigger factor. If you are going for a car loan or mortgage keep the utilization under 10% that month to get a few more points on your score.
>>1015887
the better your credit score = the bigger your penis
>>1015933
>the better your credit score the less your penis size matters
fify
What's a good card that can be accepted in both North America and Europe that gives money back?
>>1015931
Utilization matters if you're trying to go from a relatively high score to a higher score and are young. Example, I have only 4 years of credit history or so. If I want to go from a 760 to over 800 I definitely need to worry about credit utilization especially if I pay off all my cards in full every month. However, if you're at 400 and trying to go up yeah, payment history is definitely more important.
>>1015887
>Chase Ink Business Card
I've tried getting one, it really is the holy grail for MS but their new 5/24 rule is a bitch.
>>1015943
get something that doesn't charge foreign transaction fees.
>>1015957
Debt to income matters more than having >10% utilization on a card
Take 2 people going for a car loan
>person A
>100k/yr income, 650k mortgage, 800 credit score
>nothing charged on his card when they pull the report
>person B
>50k/yr income, 75k mortgage, 700 credit score
>has about 50% utilization on card when they pull the report.
Person A despite the excellent credit would get denied a car loan because of debt-income ratio. He simply can't afford the loan. Person B will get the loan despite the utilization.
Utilization only comes into play when they pull the report. It is month to month, and lender only factor in the current month when making decisions based off the score.
Regardless it is stupid to carry a balance past the due date. Spend away within reason and enjoy the cash back.
bros my credit score is 795 because my mom added me on her credit card a long time ago. Is this going to be legit when I go to buy a house or whatever? It doesnt seem right because I have never taken on any debt or anything in my life.
>>1015990
You need cards of your own and maybe an auto loan right now you've got what they call a thin file.
