Travel Hacking with Credit Cards

04/18/19 • 15 min

Chain of Wealth - Debt, Investing, Entrepreneurship, Wealth & More

With summer finally here, we decided to dive into an episode all about travel hacking! If you become effective at travel hacking you can get free trips.

[1:51] Do you want to share a few places you've traveled to

London
FLorida
Free hotel stay in Times Square New York
Half a free flight

[2:34] You need to be paying your credit cards off in full

Listen to episode 161

[3:31] How many credit cards do you have?

Amex, Barclay Card, Chase, etc.
About 10 credit cards in total
They are all used for very different reasons, as an example, Denis earns 6% cash back on groceries

[5:19] What are your favorite credit cards?

Amex Cash Back Preferred- 6% cash back on groceries and 3% back on groceries
Chase Sapphire Reserve- great for travel in general. It does carry a high annual fee but if you're a big traveler it's great, good sign on bonus.
Amazon

[9:35] Any spending on Amazon you should definitely make sure you're earning good points. The uber credit card is also great because it gets 3% cash back.

[12:49] A great general credit card is the Chase Freedom Unlimited card.

If you're interested in the Chase card, check out this chase offer.

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With summer finally here, we decided to dive into an episode all about travel hacking! If you become effective at travel hacking you can get free trips.

[1:51] Do you want to share a few places you've traveled to

London
FLorida
Free hotel stay in Times Square New York
Half a free flight

[2:34] You need to be paying your credit cards off in full

Listen to episode 161

[3:31] How many credit cards do you have?

Amex, Barclay Card, Chase, etc.
About 10 credit cards in total
They are all used for very different reasons, as an example, Denis earns 6% cash back on groceries

[5:19] What are your favorite credit cards?

Amex Cash Back Preferred- 6% cash back on groceries and 3% back on groceries
Chase Sapphire Reserve- great for travel in general. It does carry a high annual fee but if you're a big traveler it's great, good sign on bonus.
Amazon

[9:35] Any spending on Amazon you should definitely make sure you're earning good points. The uber credit card is also great because it gets 3% cash back.

[12:49] A great general credit card is the Chase Freedom Unlimited card.

If you're interested in the Chase card, check out this chase offer.

Previous Episode

Take charge of your student loans with Destiny App

Parker is a former professional football player turned wealth advisor turned entrepreneur. Together with his friend and cofounder Jerry Workman, they created Destiny, an app aimed at helping millennials pay off their student loan and credit card debt as fast as possible.

Welcome

[2:0] Tell us a bit about yourself- what’s your money story?

Played in the NFL, noticed that debt was creating a lot of problems with his friends.
Parker grew up at the poverty line and saw first hand what was happening.
Youngest advisor on a 7 billion dollar book of business company.

[3:28] How did you and Jerry come to create a student loan payoff app?

No experience in making apps and tech.
In 2016 Parker started reading about the tech world and startups, it took about a year to understand everything.
He wanted someone who could help him build an app, which is where Jerry came in.
Jerry started coding it in his spare time.
Used to have a rigid schedule with a full family

[7:35] All new businesses have mess ups- what is one of the big ones that you have learned in creating Destiny?

Started building an app in September that they’re not building anymore - originally a fully loaded investment app
Started focusing on debt instead based on feedback with users

[14:14] Tell us the details- where can we find it? What do we need to know about it?

Still in a manual process, you enter all your information and the app calculates how much money it’s gonna save you
Most people saving about $3,600 in the first year
You don’t need to see any spreadsheets the app does it all in the background

Sponsor: Check out the Desinty app in the app store! Use promo code CHAINS

Value Link Round

[21:43] What is your savings or retirement plan?

Feet first into entrepreneurship
All forces are pointed towards setting this up

[22:44] Do you have a favorite book?

Book: The Millionaire Next Door
Podcast: Dave Ramsey, Planet Money

[24:7] Favorite quote you like to live by?

Be bold, tweaks never change the world

[24:35] Any other parting piece of guidance?

Regardless of where you’re at, just start.

Next Episode

Pay Off Your Debt with Jackie Beck's App

Personal finance expert Jackie Beck is the creator of the app store hit "Pay Off Debt by Jackie Beck", an award-winning smartphone app that's been featured in the Oprah Magazine. The app has helped over 53,000 people use a debt snowball to break free from debt. Jackie and her husband Miles became completely debt free (including their house) in August of 2012, after paying off more than $147,000 in debt. She now helps motivate others to do the same so they can live the life they're dreaming of.

Welcome!

[2:10] So your app is all about debt and I’m sure there’s a big story to that, what is your personal debt pay off story?

Came off a long period of unemployment debt comprises of-
Student loans
Home equity line of credit
Credit cards
Car loan
Started with an extra $35 on her house and payments get bigger and bigger

[5:24] So we love money apps and since you had one we had to have you on the show! Can you tell us a bit more about your app- who is the audience that would benefit the most from it and does it just cover debt or other topics as well?

Works with debt snowball or debt avalanche
Calculates by when you’ll pay off your debt

[9:12] Do you have any inspirational struggle stories of any of your users? So what I’m asking is what is the craziest profile you’ve seen and how have they turned their life around?

There’s actually not that much data provided
A lot of people have told their stories

[13:28] A ton of our listeners are paying off debt, which super hard and sometimes depressing as you feel like you aren’t making a dent sometimes. Do you have any advice for people that are in the thick of it and what would you say is the biggest benefit to conquering your debt?