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In this video we interview Dave Hanson about his 5% on everything cash back credit card setup.
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Hey there credit Warriors it's credit Shifu here from that intro you might Have guessed if you're a fan of this Person you might have guessed who my Guest is on the show I mean his name's Probably in the title of the video Anyway by now but Um today we have Dave Hansen on the show Welcome the show Dave hey there Dave Here thank you it's uh it's good to Finally uh see you face to face you too Man yeah and it's great to have you um So Dave uh launched onto the YouTube Scene a couple of years ago with some Videos what do you have the Black Card Unboxing the black card that's Inadvertently became a credit card YouTuber it was it was actually the Apple card that you know got me started My channel is kind of like everything Else okay yeah and and then you were Also the first person to get the X1 card Weren't you I was yes dropping that Metal card I remember that yeah I remember that the Old uh credit card uh sound appreciation Uh videos They actually contacted me because they Uh they saw me dropping the AmEx black Card and they're like we have a metal Card would you like to drop it and I'm Like yeah let's do it they they even put The sound on their website didn't they They were very uh I should have
Trademarked that or done something at The time Yeah right Um so the reason I wanted to have you on The show because Dave he he brought out A very interesting video a few weeks ago Uh on your ultimate cashback credit card System to get five percent or around Five percent on everything and it was Really useful and I wanted to have you On the show and basically go through the System and we can ask the question is This the ultimate system what do you Guys in the audience have something Better we'd love to hear your thoughts Okay do comment below Um so first of all I know let's talk About what you used to do because you Used to use a certain credit card which Isn't offering this deal anymore yeah The uh the old crypto.com uh rose gold Card which you had to have a whole bunch Of their coin staked in order to get the Highest rewards and it was actually Great when it worked and then when uh The the crow coins started falling in Value that was the sign that maybe I Need to get out and then they started Changing the rewards program and they Changed the staking program and nothing About the program that I liked is around Anymore so that one for the rose gold You had how much did you have to stake It wasn't super I remember the obsidian
Was like 400 Grand wasn't it but the the Rose was the rose gold was forty Thousand so you for the for the I think They gave eight percent if you staked 400 000 and that just didn't make sense To me uh but staking 40 000 to get five Percent back Also doesn't make any sense but really They were paying so much on that staked Crypto and they really did pay uh until They reduced those rates I I made I made Great money on my staked uh usdc and cro And and all of that uh until so at the End Um even though crypto.com's coin dropped In value did you still come out ahead Even though uh did you lose money on Your staked crypto or not Um no because by the time I saw it Falling I was able to sell it so I I Actually doubled my money in the cro Token sold it kind of near the top when They started changing their uh program Around uh so I Unwittingly timed that quite well Those were the good old days huh Um so yeah because of the crypto winter Uh Dave had to rethink his whole uh five Percent on everything cashback strategy And you put together a video showing Um a pretty good system of how you can Get five percent cash back on almost Everything Um so let's let's talk about it so you
Had I've got it written on my screen Here so you have first a couple of cards That are not in your wallet you've got The Amazon Prime Visa signature and then You got the city custom cash do you want To introduce those first those cards are Just kind of no-brainers it's five Percent a huge portion of my spend is Amazon so you have to have that card no Annual fee why not and I use it all the Time but I usually I literally only have It like stored in my Amazon account and I don't use it for any other purposes so That's just locked away and then I had The city double cash card switch that Over to the custom Cash Card going from The two percent to the five percent in a Category that I knew I wouldn't go over Their cap and for me that was gas Stations I see yeah so like the Amazon Card actually I've got that situation Too I don't even know where that card is It's somewhere but I've just on the First day I got it I just entered it in Amazon and that's it I keep it I keep it in the wallet of Random credit cards so that I can hold It up in YouTube videos yeah yeah yeah Me too I've got a few cards like that as Well Um and then with the uh City Custom Cache uh so that's not on your wallet I Know in your video you actually Mentioned that you keep it in your car
Which I thought was kind of funny yeah Keep it in the center console I I'm Assuming that a valet is not going to Steal it and I okay Park in a secure Area so I'm I'm not too worried though Remember that guys have you seen Today's Car Well I mean you've got zero percent Fraud liability anyway so I'm sure You're fine Um but yeah I thought that was kind of Funny so you got two cards that are not In your wallet one that's entered as a Payment method in Amazon gets you five Percent and another in your car and yeah For me also um it's hard to go above Five percent on gas sorry 500 on gas in A month unless you're maybe an Uber Driver or something or you drive for Work but just daily driving I probably Spend maybe 200 uh to 300 a month on gas So it's it's a great category to utilize The systi custom cache let's move a Little further down the list now but Before we move on guys we live in Turbulent Financial Times with many of The once golden growth stocks like Tesla For example being in the red over the Past year and the stock market is Basically flatlining right now this is Largely because the FED has raised Interest rates 10 times in the past year To counter all the money they printed Since 2020 but the FED raising rate does
Have some advantages for smart investors Who know where to look and right now if You look at the six-month treasury which Is a type of government security you can Earn around five percent on your money Which beats the average savings account And it's backed by the US government so How do you buy treasuries well you could Go to the US government's website which Like the nuclear program these missiles Their launch control centers and their Command capsules all operate on this Antiquated technology Seems to be based on something from the 9 T's and run on floppy disks okay I Joke they have actually updated the Nuclear program now it now runs all the CDs but treasuries we're talking about Treasuries there is another way the Investing platform public.com recently Launched their treasuries platform where You can invest in treasury bills and Earn around five percent on your money Through a modern interface that will Also reinvest your money when your bills Mature and give you the freedom to cash Out at any time so it gives you the Flexibility of a bank account with the Yield of a six-month treasury from the Convenience of a smartphone app public Also has a social media element where You can see the stock Bond and crypto Portfolios of all your favorite Influencers including me you can see my
Investments on there too so sign up Today by going to public.com Ben Hedges And start earning five percent on your Money and we've got uh in your wallet We've got the the AmEx Gold Card which Is next uh do you want to explain that One that is my all the time everyday use At restaurant card and so that card is Four times points but I also have you'll Be talking about this in a minute the Platinum Card Schwab Edition which gets Me 1.1 cents cash back per point so Those four times points are worth four Point four percent cash back that's Awesome yeah it's a shame that the Schwab Cod went down it used to be 1.25 Didn't it but it was and that was a that Was a sad day all right so and and you Redeemed that all for cash back don't You you don't do airline miles or Anything I don't because I I have been This like team cash back guy all along Because points are just confusing and Redeeming and swapping to Transfer Partners I saw your video on uh the Evaluating points guys points and you Had one graphic in there that was like All these like partners and 1.7 1.5 that Makes me want to just like Stop using credit cards altogether so The simplified method is cashback you Know you're going to get the same value As everyone else and they can't devalue Your points I mean the FED can devalue
Your US dollar points but that happens Equally everyone gets the same Devaluation at the same time so I've I Just find that that is better than Hoping for that one unicorn airline Ticket in first class going to Singapore Or something yeah those are really hard To book I've tried to find the Availability I mean everyone says I'll Use AmEx points to book Singapore so I've never managed to find availability To book that it's it doesn't exist yeah Sure it's somewhere I'm sure they have To for legal reasons have it exist at Some point but you know for me just Being able to get five uh four point Which one are we on Gold Card 4.4 on my dining and then five and a Half percent on travel That to me is just easier and you you Don't have to worry about it and you Just cash it in at the end of the year And pay for stuff as you go that's Awesome and you said in your video you Spent twenty nine thousand dollars a Year on dining or you did that year Um so that off more than offsets the Annual fee I think through the the Cashback you earn yeah it does and and My my whole thing about annual fees I Was also a big anti-annual fee guy for a While Um but if I can have my all the perks For things that I would buy anyway pay
For the annual fee I'm okay with paying The fee I'm net cash flow positive on my Annual fees yep uh one thing I want to Ask about though you don't mention Grocery and it seems like you spend a Lot on dining but you don't spend much Money on grocery No I eat out all the time You're dying out every day yeah Basically Um so yeah I will actually use the gold Card for grocery when I am in the Grocery store but it is not a category For me the big categories and my system Works for me it may not be for everyone But my categories are travel dining at Restaurants and then kind of everything Else I see okay yeah that makes sense so If actually for me uh dining on grocery Were about equal I spent about 8 000 a Year on both yeah yeah so but you know I've got like two kids and stuff and It's kind of you know more it's Different you know I can't be bothered To take them to a restaurant every night You know it's just me and my girlfriend So we we get off like you know half Price yeah yeah no that's great that's Great Um okay so let's move on to travel uh Because I know you've got two cards for This you've got one main card and you've Got another card that you sometimes use Yeah and travel is kind of I try to keep
Everything simple have as few cards as Possible but travel does get a little Complex sometimes so my main card is the MX platinum card that's five times Points on airfare and five times points On hotels with a little asterisk you Have to book it through the AmEx travel Portal which I always shop but then if The AmEx travel portal doesn't have the Best price for the hotel room I will Book it elsewhere because low price Beats cash back every time right you're Gonna you're gonna save if you can save 100 bucks per night it's better to book It the other way and for that I use my Bank of America Cash Card which I used To use for dining that gives me 5.25 Which is the three percent uh in your Selected category plus the preferred Reward 75 multiplier gets you to 5.25 I'm sure you're adding all the things Yeah so yeah preferred rewards it's Pretty it's a pretty good deal actually Because you have to have a hundred grand With Bank of America or Merrell to get a 75 bonus and you know if you're watching This and you're like 20 okay that might Seem a little bit far away but for Seriously for anyone who's over 30 And who's saving it's really not out of The question that they could have a Hundred grand in a stock account or Something you know Um so it's actually not it's not that
Difficult of a bar to reach Um if you're someone who's saving for Retirement or whatever Um and you get 75 extra on your bonus on Your points so travel originally it's Three percent on travel right and it Takes it up that card is three percent In your selected category and I picked Travel but that 75 bonus gets you up to 5.25 which is great but they have a cap 2500 uh quarter and that cap the reason I stopped using it for dining because That is such a big category for me uh it Just I was hitting the cap every single Time and then my effective cashback was Way lower and it's just too much effort To have multiple cards and I just Decided the 4.4 with the gold card would Be better for me but then if the cash Card once I've once I've hit that limit Which for hotels it's a little bit Easier to kind of keep track of because You're maybe booking one big hotel stay And if it's over 2500 then I roll over To my Bank of America premium Rewards Card which is two percent in the travel Category but that also has a 75 Multiplier which gets you up to 3.5 Percent uh Yes yeah yeah I think so and but that's Because the annex Platinum it's only Prepaid hotels through Amex travel so Sometimes the price isn't as good as Booking direct and all that kind of
Stuff right exactly exactly oh and I Also use that that Premiere Card for uh Rental cars because three and a half Percent and built-in CDW coverage is Better than amex's one-time points uh For rental cars Uh okay yeah nice okay so yeah that's a Pretty good setup for travel Um next and this is actually going to be Your biggest category isn't it I think Um everything else non-category where's My biggest category and we kind of Touched on some of the everything else Which includes Amazon and the gas card And this is where I think people just Need to look at what they spend if you Buy a lot at Target or Walmart those Brand specific cards or a hotel brand That you're loyal to that makes sense For me though Um I'm using drumroll the X1 card For kind of that catch-all everything Else non-category spend category it's Three times three percent back on uh Everything and then if you invite people To use it which as a credit card YouTuber I've invited quite a few people To use it so I have four times points For just about uh forever and they Changed that program too it's a little More like it's a it's a lottery to see If you're gonna win four times or ten Times but instead of for 30 days at a Time it's like it can be a week or like
10 times points yeah so maybe it's like One person out of a thousand gets the 10x right or something exactly forget The 4X so not not quite as like Lucrative if you're a YouTuber and and Can just like Bank a month at a time Back in the old days but now uh you know It's it's you it's kind of gamified and You have that chance of winning like uh 10 back for a week awesome so yeah I Have some details of this card here so It's it's a two percent card but like You said Um if you spend over fifteen thousand a Year you three percent on everything but That is limited to seventy five hundred Dollars per month that you get that Extra one percentage point in Um so just you know uh be aware of that And then Um if you refer people you can get most Commonly four percent but if you're Lucky you might be able to get five or Even ten percent but probably not let's Talk about redeeming this because though These are tractors points aren't they And there are some little tricks for Redeeming because some redemptions you Don't get a full sent in value exactly This is the one place where I don't Actually redeem for cash but you Basically it's kind of like the pay Yourself back kind of yeah methodology Where select Merchants uh are qualified
At the full penny a point rate and it's A huge list for me I uh Apple is one and So basically I get a free iPhone every Year which I would buy anyway And uh some airbn airbnbs on there so I Might get an Airbnb stay for free I Charge all of my little purchases Because you have to have enough points To cover them entire purchase and so I Use it to buy my Apple apps and all of That and at three percent or four Percent back it's as good as the Apple Card right so okay like uh Elon musk's Twitter 8.99 a month thing that's Apple Isn't it Um well actually you get a discount if You pay him directly So I've I've done that on my X1 card so I'm getting four percent charging me More that's why it's charging me more Isn't it because I I'm paying through Apple pay or through there yeah he has To he has to pay them and so he's Charging you more to pay that commission But if you unsubscribe from the Apple Version wait for it to expire and then You resubscribe directly uh you can keep The check mark and pay less but make Sure you look at the list and put small Purchases on the card apple is great Because apps every single app that Purchase or movie download or that sort Of thing or your uh you know iCloud Subscription put all of that on there
Because then you'll be able to redeem it Uh because you have to have the entire Amount to cover the uh pay yourself back Kind of I see so you would raise charges On the card you pay yourself back for Charges on the card That's right but you also are earning You get the you get the you get to earn And then pay yourself back so you don't Get uh dinged on on the Redemption oh That's awesome hopefully we'll have you Back Um and thank you you guys at home for Watching leave a comment what do you Think I'll put Dave's original video on The end card you can look at it you can Go subscribe to his channel I'll put the Uh the video Dave mentioned from my Channel about the points guys well his Valuations if you want to check that out Big thank you to today's sponsor Public.com you can check out their new Treasuries platform uh at public.com Forward slash Ben Hedges okay earning Five up to five percent or around five Percent on your money investing in U.S Treasuries please subscribe to the Channel if you're new I'll see you next Time bye Foreign
