0:05 Welcome back to Careful Boys. Today Joe is going to help all of you understand credit card points. All right, this is not a brand deal. And this is just adulting. And if [snorts] you guys are actually you know, the type that just pays your bills on time, there's a really good hack. And it's not even like a secret out there. It's just using credit cards and points and stuff like that. So, I've been doing this for a hell of a long time. >> Mhm. You got me into it years ago. You came on my podcast and you were talking about this stuff and we've been doing it ever since. >> Yeah. You look like This guy's taking notes now. I'm taking notes. >> For sure. [laughter] You should. >> All right, so credit card points, check this out. So, I fly like over, I don't know, like 200 times a year or whatever, right? So, like Ballin. And you do too, and you should be doing this, but I actually you
0:55 get paid for flying, so it doesn't matter. >> Sorry, I'll take notes. I'll shut I'll shut up and take notes. >> okay, so a third of my flights are free. Wow, that's awesome. >> how like points work, right? So, like the points work because they give you points to spend, right? So, like let's say for every dollar, each card company gives you like, I don't know, like 5 cents or whatever. They have their own contract on how much the points are worth. So, like as you spend and spend, you're going to spend anyway. You're going to spend on groceries, all that stuff, right? Instead of using cash, you use the card. Points rack up. It's like extreme couponing. Now, you can use those points for like travel, Uber, hotel, whatever. >> Amazon. Cashback. There's like hella ████ And so, like that's kind of like the first level of perks, right? So, when you get to the more higher tiers,
1:45 like um like Sapphire Reserve or Preferred. There's like different type of perks you get for each card. So, I'll tell you right now the cool one that I'm using is uh I got to get a notes cuz there's a lot of perks, okay? So, all right. Sapphire Reserve. Not a brand new. Sapphire Reserve. That's my That's one of my favorites. Uh it'll cost you 800 bucks a year, but what you get if you would max out all your points, it's like 1,200 back. So, you actually if you do this right, you get money back plus the points. We're not talking about the points. We're just talking about perks. So, there's two different things, right? So, like for example, uh the annual fee is 795 or let's just even it out to 800. They give you 300 bucks in travel credit. So, what that
2:36 means is like if you fly, if you do a hotels or something or >> Do you have to book specifically through the Chase portal? You don't have to. Wow. But, if you book through the Chase portal, they uh give you more points. Got it. So, you probably should. Yeah. So, like for example, right? Like let's say you stay at a hotel and you just swipe your card, whatever, they automatically look at that and then they give you money back. So, already boom, 300 bucks they give you back for using it. >> Is that every year or is that a first-time perk? It's for 12 months. That's awesome. So, every year every year then? Yeah, I think they take care of your TSA if you have TSA precheck. So, like if you go out there, you buy TSA precheck and then, you know, it's it's it's not every year. Oh, it's like a $100 towards Global Entry or something like that which gives you precheck, right? Another one is dining.
3:27 I just recently did this with OpenTable. So, like you go on OpenTable, you make a reservation. I got a $150 dinner for basically free. Oh, wow. So, like So, you make a reservation OpenTable through Sapphire Reserve and then they'll cover that? >> For 150? Yeah, well there's different dining credits. So, one of them is OpenTable uh and then there's other like Chase partner dining restaurants or whatever. Oh, Chase And um and then so like this one it's calendar six months I think. Yeah, so like from January to the July you get to use 150 and then from like July to like December you get to use 150. So for the year it's 300 on just dining. So that's already 600 bucks, right? On top of that DoorDash credits. So that you can use like if you you get
4:17 like 15 bucks in DoorDash if you're always getting like DoorDash or whatever that's 120 to 180 bucks. So like I could go down the whole entire list here but every single card has these kind of cool perks. >> Basically if that's already your lifestyle that card should pay for itself. Yeah. Do they got like was it Sapphire Reserve that had the Lululemon one too or is that the AMX Platinum one? I'm not sure because there's so many like you just got to go in. You sound so gay right now. Just to prove this isn't an ad video. I love shorts they're sick. Just to prove. [laughter] That's good. It's not an ad video. You're so gay right now. Also you travel hella. The leggings for the YouTube? No no the shorts are training shorts they're one of my favorite shorts. You love wearing Lulus. I have one that someone gave me and I ████ I can't get rid of it. That freaking thing will last. Can't get [laughter] rid of it. I was like bro
5:07 this thing is like They make one of the sickest shorts ever. They have like that one. No I prefer you wear a sports bra right? From Lululemon. Anyways, hey you fly a lot? It's not it's [laughter] not an ad. Do you use airport lounges? I I don't anymore. What? >> Well the thing is uh Sounds like you got kicked out. >> [laughter] >> Like it got out of control. Listen at 16 airports internationally. >> belligerent. [laughter] Well there's cool ass Is that Priority Pass? Does it automatically Sapphire Reserve gives you Priority Pass? It's and and be careful cuz there's two kind there's Preferred and Reserve. Reserve is the one I'm talking about it's the top one. Yeah. How was the lounge? Dude, the lounges are sick. Well, it depends. It It's Depends on >> on the airport. It's Yeah. It's in general very convenient because Priority Pass gives you access to lounges in a
5:59 lot of places. So, unless you only are traveling to like A and B, then you can even maybe more specific with which lounge is like the better one. But when you just want to have access to some random layover or ████ other country that has happens to have a lounge, then Priority Pass is very very good. I ████ love lounges. Me, too. Me, too. Love lounges. Cuz you get the food for free, there's coffee, there's drinks. Some of them even have showers. So, if you just feel like if you're in a layover and you're like, "F███, I'm ████ sweaty. I just want to take a quick shower real quick." >> Every time I go to lounge, straight to take a nicer ████ jump on the Wi-Fi, and go straight to the bar. That's like it's That's all I do. You don't get some protein and then jack off after? I just jack off first, protein after. >> off You're just in the lounge open beating it? Yeah. No, in the in the shower. >> trying to prove this isn't an ad, Reese. >> [laughter] >> That makes me not want to go to that shower. >> Yeah, dude. Sick. I also jack off in the shower. Better
6:50 than jacking off on the plane. Better than jacking off on the plane, yeah. Have you jacked off on the plane? He has. >> [laughter] >> He's the Mile High Club by himself. >> [laughter] >> He's like, "I'm going to hit the Mile High tonight." I'm a father. >> took Can I >> [laughter] >> Nutcracker belly? during Christmas Good transition. Nutcracker belly. Yeah, the Nutcracker. Well, they have one, you know, like whatever, but basically Oh, man, I forgot It wasn't Ticketmaster, but it was one of these sites and they covered like 150 bucks. So, I only pay like 20 bucks. Dope. So, if I added up all of it, right? If you max it all out, you get like 1,300. So, you're spending 800 and then you get, you know, all the extras so for free. But does that mean next year after you pay the annual fee again, you're like, "F███, I got to go watch The Nutcracker again you have to worth it."
7:42 Thankfully, it's like Ticketmaster where it's concerts, it's whatever. So, you don't have to watch just the Nutcracker. But the catch is you have to watch Nutcracker every year. One time. So, in case you feel like your wife has a period, you can still go and it's free. [laughter] ████ it, you're not spending $2,000. Good point. >> [laughter] >> But that's not counting like points. So, that's a whole different thing, right? So, like now you got points racked up because you're spending and ████ and now you can like get all this extra stuff. It's pretty cool. I use most of it for travel. >> What is your points kind of like you would say? Like what? Like two like $1 you get like two points? Cuz like I have American Savings and I I can never even reach anything. >> Yeah. And I do I travel quite a bit. I spend a lot of money and I'm like, "Bro, I hate this card." >> Usually they're like 1%, 2%, 3% and they'll be like 1 you can and the different cards are different ones. So, some of them will be at the gas station, some will be groceries, some will be
8:33 like Postmates or whatever, and you choose the one that benefits you the most. Yeah, okay. >> Yeah, so like for example Because my everything is one for one. Like Capital One like Venture or something like that will be like this is a small one like instead of points. When I use my Capital One Venture card international, there's no transaction foreign transaction fees. Which hell it adds up cuz you're always paying for shopping, dining, random stuff. And then just because they swipe your card internationally, you're going to get relative or proportionate to how much you spend, there's a fee on there. Which often times like for me internationally, if I'm using like my regular business card that is not technically an international card, but I have to use it cuz it's a business thing, my foreign transaction fees end up being like 40 bucks by the time I get back after like a bunch of different swipes. So, like just choosing to use a different credit card that is relative to like your actual lifestyle. Or like certain cards will be like 5% back on
9:23 Lyft versus Uber. So, from there I'm like if if I check both apps and they're the same price, I'm just going to go with Lyft cuz I'm just going to get more percentage back. >> [snorts] >> And then when you acquire those points, then sometimes like those partner like I think Hyatt partners with Chase. Sometimes throughout the year they do random promos where like for the same, you know, one point that you would use regular that's a one-to-one, now you get like five points for it. So a hotel that might be like 20,000 points a night now is only going to be 4,000 points. So me and Nina our honeymoon because we used Chase reward points partnered with Hyatt and we had to just move our Chase points over to Hyatt reward points and go through their system and book through there. Little bit of a loophole. >> So you had to go cheap on the honeymoon. We had to go cheap on the honeymoon, but we got a five-star Indonesian Bali resort for five nights for the price of one. Wow. >> Wow. insane. So it's like those are
10:15 moments when like for the the >> the points? >> Yeah, well, when they do specific promos and they're you're using their partners. That's why he's talking about doing stuff like OpenTable because they may be partnered with Chase. And that's why I asked like, oh, do you need to book that thing through the Chase portal because various different ways you just kind of like if you're just kind of like hip to like what's going on with the reward timing, the promos, or the partnerships. Apple will do 10% off a couple times a year through Chase. So if you already knew that you needed to buy a laptop or an iPad and then during the holidays you were just like, you know what, let me just buy the same thing I would have got for myself anyway but through Chase reward points then from there you might get 10% off your iPad. >> That's cool. And it's like those little things make it so >> Oregon and don't pay sales tax either. Exactly. While booking your flight to Oregon through through you'll save so much money if you spend a little bit
11:05 more money. Yeah. Yeah, yeah, yeah. Travel to Oregon and buy an Apple laptop. And you map it all out. But if you can't even buy it in the cuz like so Chase has this one thing where it's like a Have you heard of the edit? It's like um So it's like luxury resorts, right? Like minimum ████ rooms are like 500 bucks a night or whatever, right? So like they give you 500 bucks credit. But like none of us are actually going to stay at these resorts on a regular. It's like maybe for a special occasion. But, for me, I'm like, if you're not at that level, it doesn't make any sense. But, yeah. But, um, AMEX is also a solid one. I think it's the competitor to the Reserve, the Platinum. Recently, they have like a pop-up at the Aria. It is ████ sick, dude. So, like, if you're AMEX Platinum member, you go in, and then like it's
11:57 like a lounge, right? It's like imagine a bar they give you ████ free drinks, free charcuterie board. It's just a place to just chill. >> Strong, brother. Yeah. Strong. It's like high-quality ████ too. And I was like, bro, what the ████ So, they're doing these experiences all over. So, it's like it's like a free date, basically. You know, I don't want to take her on the first date, but like you can take your wife [laughter] every ████ day. Hell yeah. Yeah. That's pretty cool. >> Babe, we're going to the Aria lounge again. >> [laughter] >> The American Express Aria lounge. >> That's where I'd go cuz she plays poker at Aria all the time. So, I'd go kicking in there. I mean, you know though that that there are some people that those personalities out there that they're so enticed by the rewards programs, the points, the the perks, and stuff like that that in their mind they're like, yo, I'm saving all this, and they're in mad credit card debt. >> That's how they get you. >> That's how they get you. Cuz people will
12:47 be like, why would they give you all this ████ It's cuz those ████ right there >> Cuz there's way more of those people than there are that know how to be so Credit whales? Yeah, cheap. You got to be cheap about it, you know? >> They're spending 30 Gs to get like 2 Gs worth of points. Yeah. Like, I got 2 Gs worth of points. Every month. Like, how can I get points? It doesn't matter. I just keep spending. >> The people who don't pay it off every month are really messing up. Yeah, it's a myth. Guys, if you think, you know, having a balance and then like paying it off slowly is going to build your credit, that's actually not true. Yeah. What What actually gives you good credit is, um, if your credit to debt ratio is high. I mean, uh, not high, but like your your credit, I mean, debt ratio is low, depending on how much credit. So, like, let's say you're approved for a car card that gives you $10,000, right? If you're only spending like a thousand or two, and that's how
13:37 much debt you have, that's going to keep you in the clear. But, if you have like $9,000, but your your know, credit limit is 10,000, then that kind of like lowers it a little. Well, also, too, you If you have like, say you have $10,000 credit limit or something like that, but you're only putting gas on there, they they're going to kick you out eventually, like, at some point. No, if you keep using it, it's okay. Also, it depends on how much If you're not using it at all, though. >> Yeah, if you're not using it, I mean, it's just going to expire. You're not really >> long time for them to kick you out. But, you never you should never close your own credit cards by yourself. >> Don't close your credit cards. >> On top of that, too, every now and then you should always request a credit limit increase, cuz that's just going to smooth your credit as much as you can all the time. You always just request it whenever it's available for you. And then on top of that, too, apparently, there's two points at which they track your credit based off of the debt that you have, and it's one time during the month, because you always want to pay it
14:27 off at the end of every single month. You you want to have a zero just You never want to have debt, right? Cuz they they charge like 24% interest or some ████ >> That's how they make money. But, the point is, there's actually a moment where they like uh they meter what your credit is, and then having the debt is good for your credit, and then there's [snorts] a point where paying it off makes sense. So, it's almost like you don't want to always just pay off your credit card like uh sporadically. You just kind of set it on an auto payment to always fully pay it off, so that mid-month it'll track it to know that you have spent money, which improves your credit or gives you the ability to increase your credit limit, but then still automatically pay off the entire thing by the end of the month. Exactly. Yeah. >> But, this isn't financial advice. Why the ████ are you listening to people that are talking comedic and ████ >> [laughter] >> That are gay. Who's gay? >> I just wanted to prove it's not an ad. Yeah, just want to make sure it's not an ad.
15:17 >> a ████ ad. I didn't [laughter] I didn't even get to American Express and ████ Capital One and all the other dope ones. I'm just talking about Sapphire. >> [laughter] >> One. Sapphire. Go get one.
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