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- Aug 2, 2013
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Deadbeat is a slang term for a credit card user who pays off his or her balance in full and on time every month, thus avoiding the need to pay off interest that would have accrued on their accounts.
Disclaimer: This will not help you move you to the “Fastlane”. However, it could be one of many good habits to implement to set you on the right track financially (if you have the discipline).
———-
Should you cut up your credit cards? Freeze them? Or can you create the discipline and get PAID for having them?
I’ve literally made thousands of dollars over the past few years from VISA and MasterCard even after my annual fees. Last year alone I was paid $713.52 by Visa. I am considered a “deadbeat” in their eyes for sure.
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I’m constantly looking at ways to earn a higher yield on my investments, cut expenses, and get free stuff! Who else is utilizing this strategy?
I have a few different cards, and I strategically use them for certain purchases below.
Here’s my lineup and how I utilize it (I’m in Canada btw):
Scotiabank Visa Infinite Card ($99/yr):
- 4% cashback on gas, grocery
- 2% recurring bills & drug stores
- Lots of travel benefits ( Ex: when I went to Spain last year, I got free car insurance that otherwise would have been about $500 for the trip. Another trip to Europe my baggage was delayed and I had a $1,000 shopping spree that was reimbursed by Visa and my luggage came a day later).
Tangerine Money Back MasterCard (free):
- 2% back on restaurants, coffee shops & renovation supplies (Home Depot, Rona, etc)
TD First Class Visa (free w/ being a TD customer):
- 1.5% earn rate
- 4.5% earn rate anytime I book travel on Expedia (which is quite often)
**I use this on all categories outside of the categories I listed on the two above credit cards (as my earn rate is less than 1.5% on outside categories)
Scotiabank Business Visa Infinite Passport (for my Real Estate biz)
- I mainly use this as I need a biz card and I get free lounge visits at airports which the above CC’s don’t cover
- 1.5% earn rate on all biz expenses
Any other “deadbeat”s out there?
Disclaimer: This will not help you move you to the “Fastlane”. However, it could be one of many good habits to implement to set you on the right track financially (if you have the discipline).
———-
Should you cut up your credit cards? Freeze them? Or can you create the discipline and get PAID for having them?
I’ve literally made thousands of dollars over the past few years from VISA and MasterCard even after my annual fees. Last year alone I was paid $713.52 by Visa. I am considered a “deadbeat” in their eyes for sure.
——-
I’m constantly looking at ways to earn a higher yield on my investments, cut expenses, and get free stuff! Who else is utilizing this strategy?
I have a few different cards, and I strategically use them for certain purchases below.
Here’s my lineup and how I utilize it (I’m in Canada btw):
Scotiabank Visa Infinite Card ($99/yr):
- 4% cashback on gas, grocery
- 2% recurring bills & drug stores
- Lots of travel benefits ( Ex: when I went to Spain last year, I got free car insurance that otherwise would have been about $500 for the trip. Another trip to Europe my baggage was delayed and I had a $1,000 shopping spree that was reimbursed by Visa and my luggage came a day later).
Tangerine Money Back MasterCard (free):
- 2% back on restaurants, coffee shops & renovation supplies (Home Depot, Rona, etc)
TD First Class Visa (free w/ being a TD customer):
- 1.5% earn rate
- 4.5% earn rate anytime I book travel on Expedia (which is quite often)
**I use this on all categories outside of the categories I listed on the two above credit cards (as my earn rate is less than 1.5% on outside categories)
Scotiabank Business Visa Infinite Passport (for my Real Estate biz)
- I mainly use this as I need a biz card and I get free lounge visits at airports which the above CC’s don’t cover
- 1.5% earn rate on all biz expenses
Any other “deadbeat”s out there?
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