Video

I let it fully settle (e.g.), so received

@@FatStacksAcademy ah okay on their little timeline tracker it actually goes 1.initiated 2. Requested 3. Received 4. Available

Ah bummer but $200 is better than nothing and it’s great you can get the bigger bonus again!

I kept a spreadsheet for each account and bonus. All the banks sent me a 1099-INT in the mail or on their portal and I sent the paperwork to my accountant. There’s a section for interest income on all the tax software programs and it’s pretty easy to just fill out the boxes

That’s pretty sketch on Axos’ part, sorry to hear Awesome local offer! I can’t find too many of those here in Hawaii

@@FatStacksAcademy Yeah…I wasn’t happy I wasted so much time with Axos. But what is done is done. Maybe I’ll close my account so I can get back in line for next time. I’m not sure I knew you were in Hawaii. Nice.

Thank you so much!

@@professormeowington Thanks.

Thank you! I’m still alive thanks to your contribution and support :P I don’t think you need to close the account to open a new cash account

Thanks for watching and saying hi!

Not for the accounts in this video, no.

@@FatStacksAcademy I just wanted to make sure because I was reading when you fund checking account using credit card there’s a 3% or 4% balance transfer fee.

Set your cash advance limit to below the amount you want to fund on your credit card to avoid a cash advance apr/fee Balance transfer fees are usually associated with transferring a balance to a new credit card, not bank account

Exactly 👍

Sorry about that. I’ll try and work on the audio in the next one

Thanks Monty! Yes chase business cards are the best and I love the referral bonus between me and my P2

That’s a great way to make sure you’re able to pay the card in full at the end of the intro period. Nice!

@@FatStacksAcademy Thanks. I appreciate that.

I don’t get a referral for Discover regardless, it’s just their public link. Thanks for letting me know!

@@FatStacksAcademy ah okay hopefully the account bonus will still work! Wasn’t sure if it was your bonus or the actual offer it self that expired.

Thanks Gannon!

Anthony look at his setup surrounding him. Do you really think he is living rich this way? More like living on an edge and one slip he’s done. Wait for the algorithms to catch up on him too. Then he’ll have no access to any of it! Time is better spent learning skills and actually making more income than trying these silly gains as if he’s a mogul.

Thanks man! It’s not for everyone but I get a lot of value personally

As with almost all income, Uncle Sam wants his cut at filing :)

@@FatStacksAcademyyeah but with bank interest it shows on the transcripts 😉

Wealthfront. Its 5 standard but with referrals its 5.5

Right, thank you!

Thank you Michael!

I believe it’s only for new checking accounts

Can anyone confirm if the 25k TOTAL deposits worked?

Yes, that’s what I did when I received the bonus back in January

@@FatStacksAcademy thank you! Keep grinding!

Aloha! Awesome, I’m on the Big 🏝️

Thanks for dropping by! Wire transfers are $10-$11 I think

No it does not unfortunately. I’m just using my business credit cards for normal spend and only making the minimum payment. This lets me earn interest on the money that I’d usually have used to pay off the credit card

Yes, you’ll always need to make the minimum monthly payment to avoid a late fee and penalties. Usually it’s only $40ish dollars or 1% of the total balance (whichever is more) It’s definitely not worth doing if you don’t make the minimum payment

Thanks for dropping by! Always good to verify for yourself. They are FDIC insured and have been around for years

Working on it!

I’ve seen data points that wise does work for both. They both pay out really quickly so you should be able to see if it worked within a few days

Thanks man! I don’t think there are any limits on the categories/buckets. Another cool thing about them is the individual categories show up as separate accounts in budgeting software like YNAB and Rocket.

@@FatStacksAcademy Cool. Thanks for the reply. Much appreciated. Definitely going to open an account.

Do you know...can you order actual paper checks? I live in rural America and a lot of people/businesses only accept cash or checks.

@@teresahunt5521 When I opened my account, I did read that you can’t order paper checks directly from Wealthfront. But you can request Wealthfront to mail a check to someone. Interesting option. But I imagine you can order paper checks from an outside source. When I would order paper checks in the past, I would always order them from an outside source. Most of the time it was cheaper to do this than to order them directly from the bank.

Hey thanks for watching! Fortunately, none of the banks I’ve recommended have any such fee for ACH transfers which are pretty standard across the board

@@FatStacksAcademy How are you getting the 10k credit line converting that into cash. Only thing I'm aware of is a balance transfer.

This is the fine print for the US bank triple cash credit card. "Balance Transfer fee: 3% of each transfer amount, $5 minimum."

Oh I understand now. Probably could have made it more clear in this video but essentially I’m just making normal purchases (gas, utilities, insurance, work supplies, etc.) on my triple cash and then only making the minimum payment until the 15 month intro period is over. Since I’d normally pay off my card in full each month, that money is instead sitting in my high yield account earning interest. You’re right, if I did a balance transfer there’d be a fee involved.

He’s the 🐐

Thanks Monty!

Not sure about Blupeak, but Key point is letting me buy CDs at $500 a pop. Not great, but good if you need to hit a visa/mastercard sub in a pinch

@@FatStacksAcademy I tried opening a KeyPoint checking with my Chase Ink Cash and they were claiming it was throwing a "Insufficient Funds" error when I had plenty of credit available. Maybe I'll try my luck with their CDs?

That is odd. I don’t know if it’s giving that error a CD would make a difference. I’d call their customer service and get in touch with a banker. They’re pretty helpful

Thanks Lani!

I actually use Wealthfront for both checking and savings. The cash account doesn’t have transaction limits so I just use it for both

@@FatStacksAcademy thanks for the reply love the content!

Working on it!

From my experience so far, it hasn’t affected me at all. I keep my personal credit utilization well under 10%. Since most of my utilization is on business cards, like you mentioned, it hasn’t shown up on my personal credit report. I was just approved for another business card (U.S. bank triple cash) in the last couple of weeks with a 10k limit despite the business having close to a 50k combined balance and at nearly 80% utilization. I’m just one data point though. I have over 14 years of credit history with 0 missed payments so that probably helps me a lot. I’m also in the 740-790 range depending on the agency. Thanks for the feedback! I’m working on a video for the best cards for 0% APR and how to strategize. Hoping to work it in soon!

He eats very well 😀

Haha glad you can relate to the algorithm struggle!

Please consult your doctor

That’s a solid extra $500. Nice!

Thank you!!

Yes you are!

@@FatStacksAcademy I feel like a badass mofo!

Unfortunately I don't. have one currently. Crossing my fingers that BILT will cover my provider. when they roll out their mortgage rewards

Awesome way to make sure you get as much as you can from the interest AND ensure you have the money to pay the card in full. Thanks for watching and the comment!

Thanks Matthew! Health insurance is a bit of a special situation. 1. I’m a Veteran so my healthcare is covered by the VA 2. Here in Hawaii, there’s a pretty high threshold for CHIP so my son is covered without an increase to the premium 3. That just leaves my wife and we are on a high deductible HSA plan so the premium is a lot lower. The $157 was for last year and it’s gone up quite a bit this year too

@@FatStacksAcademy Thanks so much for sharing. Much appreciated, and best wishes to you and the family!