Strangest Credit Card Hacks

This video is about strange credit card hacks that can increase your credit score and save you money, including getting late fees waived, using a credit card to earn cash back on large purchases, removing annual fees on credit cards, utilizing credit utilization to boost your credit score, and a potentially risky method of creating an infinite money glitch.

This video by Daniel Iles was published on Dec 9, 2022.
Video length: 04:55.

The video is about strange credit card hacks that can increase your credit score and save you money.

The video discusses various hacks, such as getting late fees waived by calling and offering to turn on automatic payments, using a credit card to purchase a Tesla and earning cash back, removing annual fees on credit cards by utilizing the Truth in Lending Act, boosting your credit score by keeping credit utilization below 30%, and creating an "infinite money glitch" by using prepaid money cards to pay off credit card balances.

The video also warns about the potential risks and consequences of some of these hacks.

• Credit card late fees can be waived by calling the credit card company and explaining the situation.
• By making a large purchase through a third-party service, it was possible to earn cash back or points on the purchase.
• This loophole has been closed and is no longer possible to exploit.

Strangest Credit Card Hacks - YouTube

Strange Credit Card Hack #1: Waiving Late Fees

• If you miss a credit card payment, you can call the credit card company and ask to have the late fee waived.
• Offer to turn on automatic payments to ensure you never miss another payment.
• Most people don't know that late fees can be waived, but it is possible if you catch it early enough.
• Calling and explaining that it was a mistake and won't happen again can often convince the credit card company to remove the fee.
• Missing a payment on purpose before can be a way to prove that late fees can be waived.

Strange Credit Card Hack #2: Earning Cash Back on Large Purchases

• A person bought a $60,000 Tesla on a credit card and earned $5,000 in cash back.
• Tesla didn't accept the credit card payment directly, but they accepted a payment through a third-party service called Plastic.
• Since the charge went through Plastic and not Tesla, it was classified as an advertising expense.
• Using a credit card that earns points on advertising expenses, the person earned 180,000 points worth about $5,000 in travel.
• This loophole has been fixed, so it is no longer possible to do this.

Watch the video on YouTube:
Strangest Credit Card Hacks - YouTube