Profiting From Credit Cards

Why Use Credit Cards To Earn Cash

If you’re anything like us, you love easy money. This is why we love credit cards with rewards points.

When you buy goods or services with cash, checks or debit cards you don’t get points that convert into cash each month — but you do with certain credit cards!

In all likelihood, you probably already have multiple credit cards, but you might not be using the ones you can profit from the most because, like most people, you’re probably avoiding the credit cards that have an annual fee. This is a no-no because, nowadays, many credit card companies—with American Express and Chase being two of the best—offer rewards points that can be turned into cash and applied towards your monthly statement balance every month. You could potentially profit more than $1,000 per year depending on how much you buy annually with your credit cards.

That’s as easy as investing in crypto staking and high-yield accounts!

Best Credit Cards To Make A Profit

We have the American Express Gold Card for its high rewards points on restaurant dining and groceries, and the Chase Sapphire Reserve Card for its travel rewards points on flights and hotels. 

Credit card companies are always changing their rewards deals, so make sure to thoroughly research the latest credit card rewards online to determine which suits you best. For example, some credit cards offer more points for purchases at gas stations or grocery stores while others for travel or dining. Lately, the best credit cards are the:

– American Express Platinum Card (AMEX)
– American Express Gold Card (AMEX)
– Chase Sapphire Preferred Card (Visa)
– Chase Sapphire Reserve Card (Visa)

How To Make Money From Your Credit Cards

Simply apply for credit cards with new cardmember bonuses. These cards offer bonuses anywhere from 50,000 to over 100,000 points when you sign up and spend a certain amount of money within the first three to six months. If you reach the required spend limit, you can redeem your new points to cash.

Crypto Credit Cards

You may see “crypto credit cards” being advertised but, technically, they are debit cards (or pre-paid cards) with rewards. Real crypto credit cards aren’t being offered just yet. However, crypto debit cards can offer good rewards. For instance, these are currently the best crypto cards:

– The Gemini Mastercard provides 3% back in crypto and has no annual fee.
– The Crypto.com Visa card offers up to 5% cashback on all purchases.
– The Nexo Mastercard has 2% cashback on all purchases.

 We have the Crypto.com Visa card because Visa is accepted by practically all businesses around the world, and the 5% cashback on all purchases is outstanding.

This Is How Credit Cards Companies Make Money

When you don’t pay your monthly statement balance in full you get charged an interest fee on your balance due, the Annual Percentage Rate (APR), which can be over 20%. Luckily, your new rewards points credit cards with cashback will help you pay off your statement balances every month.

Our articles may be republished online or in print under Creative Commons license CC BY 4.0; Proper attribution and link to our web site are required.

Image by vectorjuice on Freepik

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