Mastering Credit Cards: A Disciplined Approach to Earning Perks and Building Wealth
Meet Quinn and Brittney Sturgis, an Air Force couple who have cracked the code on using credit cards to their advantage. By strategically juggling 15 credit cards, they’ve managed to save nearly $500,000 in their 20s, all while avoiding interest charges and maximizing rewards.
The Key to Success: Discipline and Organization
Quinn, a 30-year-old pilot, emphasizes the importance of paying off their balances in full each month. “We never carry a balance,” he says. “Whatever the balance was for the previous billing period gets auto-paid before the next billing cycle.” This approach allows them to reap the benefits of their cards, including cashback rewards, air miles, and upgrades on flights or hotels.
A Strategic Card Selection
The couple primarily uses a handful of cards for everyday purchases, such as their Chase Freedom or American Express Gold cards. They also utilize their Costco card for gas and their Hilton Honors Aspire card for hotel bookings. As active-duty military service members, they benefit from waived annual fees on their premium cards, reducing costs and making it easier to maximize rewards.
Travel Perks and Investment Strategies
The travel perks from their credit cards often cover significant costs, allowing them to stretch their budget. “We do a lot of family trips that are paid for by points,” Quinn says. They also allocate about 30% of their income toward investments, demonstrating their commitment to building wealth.
Expert Approval
Certified financial planner Betsy Hutchins praises the couple’s ability to manage their credit cards effectively. “I applaud them for their ability to maximize credit card perks to their advantage,” she says. “Kudos to them for paying them off every month.”
The Benefits of Credit Cards
Credit cards offer several advantages over debit cards, including stronger protections against fraud and easier charge disputes. A large credit limit can also help boost your credit score. However, carrying multiple cards requires significant organization and financial discipline.
A Word of Caution
While Quinn and Brittney’s approach may not be suitable for everyone, their discipline and organization are key to their success. As certified financial planner Noah Damsky notes, “Squeezing those last few credit card points” may not be “optimal from a practical perspective because it’s such a pain to manage and keep track of.” For most people, carrying no more than four credit cards is recommended to avoid complexity.
The Sturgis’ Exceptional Case
The Sturgis family’s exceptional discipline and financial acumen have allowed them to thrive in a complex credit card landscape. While their approach may not be for everyone, it serves as a testament to the power of strategic credit card management and disciplined investing.
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