Make Money Using the American Express Blue Cash Card
In our last post, we looked at the American Express Blue Cash card. Now we’re going to look at a way to make it pay off for you. It’s actually possible to make money with the AmEx Blue Cash. Sounds like a scam, I know, but it’s not–it’s legitimate advice from Online Banks Blog. I’ll ease your mind: you don’t actually get cash in your wallet or a check in the mail.
What you do get from this way to make money using AmEx is a lower grocery and gasoline bill. Who can’t use that?
First, the American Express Blue pays up to 5% cash back for those items. To get that, though, you need good credit and to spend at least $6,500 in a year on your card. That’s not hard to do if you consider your total gas and grocery bill. Up to that $6,500 spending mark, the card pays 1% on gasoline and groceries, which is still pretty good.
The American Express Blue Cash card, though, shines after that spending mark and jumps up to 5% cash back. So here’s how to make money using AmEx and this cash back bonus.
Let me suppose a small theory: you have a card and you get your spouse another card on that account, so you’re sharing the account with American Express Blue. Now every time either of you puts gas in the car, buys groceries, or buys items at the drugstore, you use the AmEx Blue Cash to do it. Since these are basically regular budget items, you should be able to pay off the card’s balance monthly.
After a year of doing this, you’ve definitely gone over the $6,500 minimum. If you’re like most, your $6,500 spending total on your American Express Blue Cash card came around the fifth month you got the card. So that’s 7 months of 5% cash back on those purchases!
So at $1,300 in spending per month for seven months, that’s $9,100 you’ve spent on gas and groceries. So your cash back is $455 for those 7 months! Now, before that you spent $6,500 at 1% cash back, so you also get another $65, putting your total cash back at $520.
That’s cash money you didn’t spend and is about half a month’s expenses in gas, groceries, and drug store purchases if you’re spending the $1,300/month in our model here. Most people will find that they spend more than this monthly, so your ability to make money using AmEx might be even better.
See how that works? That’s a great way to save a little extra money in today’s bumpy economy.
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