I Have 17 Credit Cards and a $157,400 Limit – Here is Why

Video Summary

In this article, the author discusses his unusual hobby of managing 17 active credit cards, which he claims helps him earn thousands of dollars in cashback rewards and benefits. He explains that he was introduced to personal finance and investing through his own self-education in his 30s, and as a result, he now has a system for optimizing his credit card usage to maximize his rewards and savings.

The author warns that this approach is not for everyone, but notes that he enjoys tracking numbers and managing spreadsheets, which makes this hobby enjoyable for him. He advocates for using credit cards responsibly to earn rewards and benefits, and advises against credit card churning, or frequently opening and closing accounts to earn sign-up bonuses.

The author provides a list of his 17 credit cards, including their benefits and features, such as cashback rewards, travel credits, and hotel status. He explains that he uses a small number of the cards for everyday purchases, and keeps the others active by making occasional small purchases or using their static benefits.

The author also provides a detailed explanation of his cashback earning strategy, including how he uses certain cards for specific categories, such as groceries, dining, and travel. He notes that he earned around $8,000 in cashback rewards in the previous year, and plans to do another video in January to track his earnings for the following year. Overall, the author’s approach to credit cards is designed to maximize his savings and rewards, and he encourages viewers to consider his strategies for themselves.

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