The Risk Of Chasing Credit Card Rewards

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[LukesPointsandMiles]

I can say that I 100% overspend because of signup bonuses. No question. But I try to balance that with that fact that it’s just as bad as not spending and not living the life want. I’m also debt free though, and all my retirement stuff is squared away. I mean, who doesn’t want a decent watch?

[ronaldhuzo]

Jake is always hitting us with a reality check from time to time 😂

[daw]

I don’t spend too much money to meet the sign up bonus because paying rent, food, utilities, clothes etc. will net a 20-35% rate of return after getting the sign up bonus.

[Nick-]

At this time in life, I wouldn’t say I overspend for SUBs. I don’t go after business SUBs so that probably pays a big factor but with a family of 5 hitting most personal CC SUBs isn’t hard with everyday spend. The worse I feel like we do is buy something a few months earlier then we originally planned to but we already have the money sent aside for the item we’re buying

[splatoon_octo]

I am going to eventually transition to cashback for this very reason.

[omni]

It takes real discipline and budgeting to play the CC game and win. Patience with SUBs is required, don't be in a rush, I put all my utilities on the new card in order to hit the SUB that way I don't over spend or buy stuff I normally wouldn't.

[aarondavis]

Keep the videos coming. Your channel can really grow alot further with this unique perspective you bring

[andreassinats]

It’s a game that the banks are structurally designed to win. Not to say you can’t come out ahead, but it requires some real dedication and attention.

[Just_Stevo]

I don't overspend. SUB"S aren't worth that. If it isn't groceries or gas I don't really need it.

[willo]

As one who plays the points and miles game, it's these kinds of videos that help to keep things in perspective. Great video Jake!

[pear_bear]

Just budget probably and treat your credit cards as cash

[josiahdavidlove]

Just starting to get into the game fr and you definitely got me staying aware, ty brother

[BobI-jbrk]

Appreciate ya’ having the balls to put the best interest of your subscribers above CC referrals.

[TheEvenEvin]

always a good day when we get a take from jake 🎉

[lrnasigo]

Do I really need that iPhone 16 Pro Max? 🤔 let me look for a sign up bonus first

[mtnbikerider]

That's why the US Bank Altitude GO VISA card is best. Traveling not high on my list - practically gas and groceries, is my life for the time being.

[egrip]

Damn Jake speaking directly through my soul. I’ve been intro bonus hungry this past few years but now I have all of these credit card accounts opened with a monthly recurring payment just to keep them opened. I don’t want to close them because of the credit history impact so I’m kinda stuck

[aosmond]

Totally agree with you regarding Economy vs Business Class. If the Business Class seat costs 80k points, and the Economy seat costs 40k, then you’re really basically paying $400 extra to fly business. In a lot of cases, I’d rather have $400 extra cash that I can use to reduce the other out of pocket expenses for the trip.

Maybe Business Class may make more sense if there’s a transfer bonus though.

[ecPaname]

If you have to go out of your way to spend more and it wasn’t planned out ahead of time then doing the SUB might not be the time for you. Sometimes it might look like I overspend if I buy a MacBook and AirPods maxes to hit a sign up bonus but if I already planned to buy those for over a year and I got the card when it made sense for me to do so, am I really overspending?

[chrisschneider]

Great video, great points. It’s good to be realistic about the downside of SUBs with your audience.