Credit card offers and how to make the most of them

by | Dec 21, 2020 | 0 comments

 

Want to make some extra cash on the side while living in Israel? Here is a crash course on how to make a nice amount of money with credit card points and signup bonuses.

 

Let’s divide it into a few steps, each of which we will discuss thoroughly in this article:
Step 1: Sign up for a credit card with the best offer that can work for you
Step 2: Use buying groups to reach spending requirements for signup bonuses
Step 3:  Maximize your points accumulation using Amazon and Fluz
With these 3 simple steps, you can make as much as $1700 worth of points in the first 3 months! WOW- right? Let’s delve into it a bit more.

 

Step 1: Credit Cards 

We’ll start with 3 cards that currently offer great deals
a) Amazon credit card – I find the most basic way to capitalize when using buying groups (step 2) is by spending on an amazon credit card. These cards offer 5% cash back on all purchases on Amazon with a Prime subscription. So if you spend say $10,000 for the buying group (more about this in step 2), you make $500. Not bad. Here is a link to an Amazon business card
Anyone can open a business card. Open as a sole proprieter, make the name of the business your name and write your social as the tax id number.
b) Chase business card – If you’re up for a slightly bigger challenge (and reward!) you can try this Chase business card. The sign up bonus for this one is 75,000 Chase points for spending $7,500 in the first three months. This card also earns 5 points per dollar on office supplies – see step 3 to learn how you can maximize your buying group purchases with this!
Use this link to see details about the card and to sign up
c) Capital One Venture: Another lucrative sign up bonus that can be reached through spending for the groups is the venture card from capital one,. the current offer is 60,000 points for spending $3000 in the first three months. plus earn 2 points for every dollar you spend. Use this link to see details and sign up https://capital.one/3ooruz7
Step 2: Buying Groups
Reach your spending requirements, plus gain lots of extra points!
Buying groups are companies who want to buy electronics at discounted prices to redistribute, but cannot buy enough because of website limits per person. They employ you to purchase for them. You ship it directly to their warehouse and they send you a check online. You gain by being able to reach spending requirements and getting points for all your purchases. Occasionally they offer commissions as well. You have to sign up and then they send you the deals they want to buy via email or WhatsApp.
While I have had only good experiences with the above groups,  keep in mind that there have been ppl who have laid out lots of money for these kind of things and weren’t paid back, so only lay out what you can afford to lose, in the rare case something happens.

Step 3: Maximize 

a) Amazon: Most of the deals posted are from Amazon. It is also the easiest website to use in terms of managing your orders, customer service etc. On some other websites, they may flag the buying group warehouse shipping location and cancel orders, but on Amazon all orders go through.
It is worth it to have a separate amazon Prime account to use for this purpose. You can get a free prime account by adding your account to any Prime account as part of the household. On the prime account go to Your Account- Manage your Household, then add the new account info to invite to the household. One you’re added you will have Prime on that second account for free.
b) Fluz app
For credit cards like the Chase business card mentioned above, which earns 5% for office supplies on up to $25,000, this app can come in handy. With the Fluz app you can purchase Amazon business gift cards and Chase categorizes it as office supplies. You can then use the gift card at checkout on Amazon. Which means you earn 5 chase points per dollar on Amazon! sign up for Fluz here
So a quick calculation –> if you sign up for Chase business card and spend the $7500 in three months exclusively on Amazon gift cards through the Fluz app you would earn: 75,000 signup bonus points PLUS 37,500 points for the spending, a total of 112,500 Chase points.  Which can potentially be worth almost $1700!!
Using credit cards and buying groups this way is a great, fairly easy way to make some extra bucks and/or save up points for your next big vacation!
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