Credit Card and Bank Account Bonus Churning, and Interest Income Maximization

From the stickied post at the top of this blog, you can earn a 5% APY from Insight Visa Prepaid Card (on the first $5,000 balance, up to 4 cards per SSN) and Northpointe Bank Ultimate Checking (on the first $10,000 balance). With both accounts, you can earn a 5% risk-free return on up to $40,000 of principal. This return beats the pants off of any bond fund in terms of risk-adjusted returns. If you want to take it up even further, you can open 10 Netspend accounts using the same SSN with a 5% APY on the first $1,000 balance for $10,000 (a person from  doctorofcredit 's comment section reported his total accounts). Account management would not be an issue for individuals in this business as it is assumed that s/he is very organized. I would personally do this with Mint to keep track of balances effortlessly. Here is a summary +----------------------+-----------+----------+---------+----------+ | Account               | Interest ...

Insight is a prepaid visa card that allows you to use it as an ordinary debit card. It comes with a FDIC-insured savings account from Republic Bank of Chicago, up to a maximum balance of $5,000 (earned interest is allowed past the limit). The sole reason to open this prepaid card is for the 5% APY on the savings account, which is compounded daily and paid quarterly . What you'll have to do is load the prepaid card via direct deposit (I'd use Popmoney ideally to avoid dealing with verification deposits) then transfer the money from the card to the savings account. When you need to withdraw a balance, you'll have to move the money from the savings account back to the card and do an ACH pull. Now, since this product targets the under-banked, it is hefty with fees that nickel and dime you for practically everything you might want to do with a debit card. Be sure to read their terms and conditions . As a summary, to avoid all their fees, restrict your activities to the followi...

Well, May and June of 2017 have been one hell of a MSing spree for me. I had ordered 3 cards and had a huge minimum spending to hit within 3 months. Platinum - $5,000 Ink Business Preferred - $5,000 Premier Rewards Gold - $2,000 I'm still not done, but what I've done so far to hit them was to use Plastiq to knock off around $3,500, loaded a new PNC savings account with $2,000, and bought AGCs worth $3,000 on a monthly basis for the rest. I included a ton of organic spending on it, of course. Next in line would be to apply for the CSP, CSR, and Everyday Preferred for a total of $8,200 in required minimum spending. This will be in July as I am already 5/24, but my AMEX cards haven't reported on my credit reports yet.