Optimizing Payment Strategy for CLL (bank / credit rewards)

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Posts: 315

Joined: Dec 2024

Posted on Dec 20, 2024, 9:06 pm

#1

Hey folks:

If you're going with a doctor that accepts credit payment, there's some opportunity to reap some kind of rewards from either a new credit card or potentially a new bank account.

I'm looking at a lump sum of $65,000 here, for example, and I know there's some credit hacking tricks that people do when they have a large amount of money they are about to spend. Like certain cards say "Open a new line of credit and spend $X within Y timeframe, and you'll get Z points / cash back."

Are there any other things I'm not aware of that I should look into? Such as opening a new savings account, dumping the money into it to reap the rewards, then spending that on CLL?

I'll share my findings, but I'd love to hear what you all did. Thanks!

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D

dingdongditch

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Posts: 94

Joined: Aug 2024

Posted on Dec 22, 2024, 12:06 pm

#2

Great questions. I know someone who opened a new credit card with a 0% APR for 24 months. Would love to hear what you find.

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jbfjbj4

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Posts: 181

Joined: Nov 2023

Posted on Dec 23, 2024, 5:18 pm

#3

The best payment strategy - by far - is simply to not repay the creditor. That EV of that obliterates any lousy points or cashback you're gonna get, oh no you can't get a mortgage for 6 years, cry more about it, boohoo.

I've no idea why more people don't just rack up loans and stiff the creditors. There's literally no consequences to doing so at all beyond some number on your credit report goes down. All they're gonna do is call your phone (so change your sim card) and send letters to your house (move, or just bin the letters). I guarantee they'll be no Mastercard hit squad coming round to take you to a camp. I do this every few years for some nice bonus funds, it's easy money.

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dingdongditch

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Posted on Dec 24, 2024, 1:36 am

#4

Are you trolling? Why is 6 years the lucky mark?

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jbfjbj4

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Posts: 393

Joined: Nov 2023

Posted on Dec 25, 2024, 8:07 pm

#5

Quote from: dingdongditch on December 24, 2024, 01:36:01 AMAre you trolling? Why is 6 years the lucky mark?

See, this is the problem with most people. Talk about anything other than being a good goyim and paying back your debts must be 'trolling', cos otherwise the big bad credit monster will come to get you in the night or something. Most of you have no idea what the actual consequences are of not paying, you're just indoctrinated to do so like good sheep anyway.

Nothing will happen. You'll get a few letters and phone calls, easily ignored, that's it. But people cope like mad, saying but wut about muh phone contract, what about muh cashback points, when the EV of cashback is 1% at best (vs stiffing them being at 100%) and with the money you just took from the card companies you can buy your fking phone outright anyway. You'll never ever ever be BETTER off by paying back over stiffing them, as the 20-40% interest rate prices in that some people WILL stiff them - i.e. if you pay back you're essentially just the cuck sucker who is subsidising the Chads who don't pay.

6 years is the statute of limitations for debt where I live. All western countries I know of have a statute of limitations for this, it will vary from 5-10 years depending on where you are. But again, just move house, change your sim card, you'll never hear a word from them again. The bank doesn't have some special forces hit squad to kick your door down in the middle of the night, and neither are they hiring private investigators to track you down. They'll just write it down and sell it off as part of the normal cost of doing business, the buyer of the debt won't be able to contact you either and they'll sell it on for even less and eventually the statute will run out.

Edit Post

Quote from: dingdongditch on December 24, 2024, 01:36:01 AMAre you trolling? Why is 6 years the lucky mark?

See, this is the problem with most people. Talk about anything other than being a good goyim and paying back your debts must be 'trolling', cos otherwise the big bad credit monster will come to get you in the night or something. Most of you have no idea what the actual consequences are of not paying, you're just indoctrinated to do so like good sheep anyway.

Nothing will happen. You'll get a few letters and phone calls, easily ignored, that's it. But people cope like mad, saying but wut about muh phone contract, what about muh cashback points, when the EV of cashback is 1% at best (vs stiffing them being at 100%) and with the money you just took from the card companies you can buy your fking phone outright anyway. You'll never ever ever be BETTER off by paying back over stiffing them, as the 20-40% interest rate prices in that some people WILL stiff them - i.e. if you pay back you're essentially just the cuck sucker who is subsidising the Chads who don't pay.

6 years is the statute of limitations for debt where I live. All western countries I know of have a statute of limitations for this, it will vary from 5-10 years depending on where you are. But again, just move house, change your sim card, you'll never hear a word from them again. The bank doesn't have some special forces hit squad to kick your door down in the middle of the night, and neither are they hiring private investigators to track you down. They'll just write it down and sell it off as part of the normal cost of doing business, the buyer of the debt won't be able to contact you either and they'll sell it on for even less and eventually the statute will run out.

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A

Activatedxx

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Posts: 338

Joined: Jan 2021

Posted on Dec 25, 2024, 10:20 pm

#6

Quote from: jbfjbj4 on December 25, 2024, 08:07:45 PMSee, this is the problem with most people. Talk about anything other than being a good goyim and paying back your debts must be 'trolling', cos otherwise the big bad credit monster will come to get you in the night or something. Most of you have no idea what the actual consequences are of not paying, you're just indoctrinated to do so like good sheep anyway.

Nothing will happen. You'll get a few letters and phone calls, easily ignored, that's it. But people cope like mad, saying but wut about muh phone contract, what about muh cashback points, when the EV of cashback is 1% at best (vs stiffing them being at 100%) and with the money you just took from the card companies you can buy your fking phone outright anyway. You'll never ever ever be BETTER off by paying back over stiffing them, as the 20-40% interest rate prices in that some people WILL stiff them - i.e. if you pay back you're essentially just the cuck sucker who is subsidising the Chads who don't pay.

6 years is the statute of limitations for debt where I live. All western countries I know of have a statute of limitations for this, it will vary from 5-10 years depending on where you are. But again, just move house, change your sim card, you'll never hear a word from them again. The bank doesn't have some special forces hit squad to kick your door down in the middle of the night, and neither are they hiring private investigators to track you down. They'll just write it down and sell it off as part of the normal cost of doing business, the buyer of the debt won't be able to contact you either and they'll sell it on for even less and eventually the statute will run out.

I actually considered doing this in my early teen years. If I was 18-20 I definitely wouldn’t have cared to ruin it, but as you get older you use credit for car insurance, business, and housing. Apartments check your credit, car loans check your credit, and if you own any assets like a second house or car they can take it.

If I was like 19 though and I had 70k in cash, and a 70k care credit limit
I would probably just use the cash for a house down payment and a car, and then just ruin it and at that point I wouldn’t have a need for credit anytime in the near future, and would just wait for it to fall off 6-7 years later.

At my current age and income, I can use my credit to generate 70k of income yearly, so not really a smart idea.

Edit Post

Quote from: jbfjbj4 on December 25, 2024, 08:07:45 PMSee, this is the problem with most people. Talk about anything other than being a good goyim and paying back your debts must be 'trolling', cos otherwise the big bad credit monster will come to get you in the night or something. Most of you have no idea what the actual consequences are of not paying, you're just indoctrinated to do so like good sheep anyway.

Nothing will happen. You'll get a few letters and phone calls, easily ignored, that's it. But people cope like mad, saying but wut about muh phone contract, what about muh cashback points, when the EV of cashback is 1% at best (vs stiffing them being at 100%) and with the money you just took from the card companies you can buy your fking phone outright anyway. You'll never ever ever be BETTER off by paying back over stiffing them, as the 20-40% interest rate prices in that some people WILL stiff them - i.e. if you pay back you're essentially just the cuck sucker who is subsidising the Chads who don't pay.

6 years is the statute of limitations for debt where I live. All western countries I know of have a statute of limitations for this, it will vary from 5-10 years depending on where you are. But again, just move house, change your sim card, you'll never hear a word from them again. The bank doesn't have some special forces hit squad to kick your door down in the middle of the night, and neither are they hiring private investigators to track you down. They'll just write it down and sell it off as part of the normal cost of doing business, the buyer of the debt won't be able to contact you either and they'll sell it on for even less and eventually the statute will run out.

I actually considered doing this in my early teen years. If I was 18-20 I definitely wouldn’t have cared to ruin it, but as you get older you use credit for car insurance, business, and housing. Apartments check your credit, car loans check your credit, and if you own any assets like a second house or car they can take it.

If I was like 19 though and I had 70k in cash, and a 70k care credit limit
I would probably just use the cash for a house down payment and a car, and then just ruin it and at that point I wouldn’t have a need for credit anytime in the near future, and would just wait for it to fall off 6-7 years later.

At my current age and income, I can use my credit to generate 70k of income yearly, so not really a smart idea.

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C

Calic

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Posts: 344

Joined: Sep 2013

Posted on Dec 26, 2024, 12:52 am

#7

I didn't seriously look into this but a safe approach would be to get some credit cards that provide an intro bonus and ongoing passive benefit that you will use for the foreseeable future. Split up the surgery payment so you get the intro bonus for each card and then use an unlimited cashback card for the remaining amount. Below are some good options I've looked into and used, only the Shopper and Amazon cards have an annual fee:

Amazon - 5% cash back on Amazon, requires active Prime membership
US Bank Shopper Cash - 6% cash back on Amazon and Walmart.com and others, it's about 4.5% cashback after you factor in the $95 annual fee
Citi Custom Cash - 5% cash back on 1 category - gas, grocery, restaurants/takeout, home improvement
US Bank Cash+ or Fulton Max Cash - 5% on 2 chosen categories, can be used on utility and home internet bills
Wellsfargo Active Cash - 2% unlimited cash back and gives cell phone damage and theft coverage
AAA Daily Advantage - 5% cash back on groceries, no AAA membership required
US Bank Altitude Go - 4% cash back on restaurants/takeout

These require opening a free account at a credit union but are nice:

Alliant Visa Signature - 2.5% cash back on first 10k per billing cycle and no foreign transaction fees
Redstone Visa Signature - 5% cashback on gas and restaurants/takeout

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badgerbrocktree

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Posts: 326

Joined: Dec 2024

Posted on Dec 26, 2024, 7:35 pm

#8

Quote from: jbfjbj4 on December 23, 2024, 05:18:04 PMThe best payment strategy - by far - is simply to not repay the creditor. That EV of that obliterates any lousy points or cashback you're gonna get, oh no you can't get a mortgage for 6 years, cry more about it, boohoo.

I've no idea why more people don't just rack up loans and stiff the creditors. There's literally no consequences to doing so at all beyond some number on your credit report goes down. All they're gonna do is call your phone (so change your sim card) and send letters to your house (move, or just bin the letters). I guarantee they'll be no Mastercard hit squad coming round to take you to a camp. I do this every few years for some nice bonus funds, it's easy money.

Okay I respect the out of the box thinking here. However, I don't have enough cash to coast credit-less for the next 10 years or so (and I'm certainly not in the "fk you money" stage where I can stiff arm corporations).

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jbfjbj4

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Posts: 31

Joined: Nov 2023

Posted on Dec 27, 2024, 9:09 am

#9

Quote from: badgerbrocktree on December 26, 2024, 07:35:41 PMOkay I respect the out of the box thinking here. However, I don't have enough cash to coast credit-less for the next 10 years or so (and I'm certainly not in the "fk you money" stage where I can stiff arm corporations).

If you don't have much cash it's very likely you're a prime candidate for doing just this. What, exactly, are you going to do with a x limit credit card which will generate and/or save you more cash than simply taking 'x' from the balance? It certainly won't be achieved by points or cashback rewards as even the best cards are 1% back.

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badgerbrocktree

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Posts: 181

Joined: Dec 2024

Posted on Dec 27, 2024, 5:38 pm

#10

I mean I have enough cash to pay for the surgery.

And I imagine there's some credit cards on the market that have like a $1000 point equivalent reward for high initial spend

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