The 2.5 percent fee came out to about $1,470, while the purchase earned him nearly 180,000points. At minimum that's $1,800 in value, but it could be worth even more when redeemed for travel. If Rosso transfers the points to the right hotel or airline rewards programs, he estimates that they'll be worth as much as $5,000.What you need to keep in mind
If you plan to try this at home, do some math to ensure you'll get enough rewards to justify the fee, and do the research to make sure everything will go smoothly. For instance, Rosso warns that "certain cards code Plastiq purchases as a cash advance, so you do not want to use such cards when paying through Plastiq." Cash advances are usually accompanied by a fee of around 5 percent.
To buy something as expensive as a Tesla, you'll also need a high credit line, which can be a perk of a business card. Technically you need to run a business to qualify for a business card, but the definition of "business owner" these days can be broader than it may seem.
MakeIt No wonder 20 something’s cannot pay for college debt or buy homes! Spending $60,000 on a car is obscene 👎
MakeIt This is a lie. Tesla doesn’t accept credit cards. elonmusk
MakeIt 2018? Still relevant?
MakeIt And probably paid $4-5K in interest to the card for the charge
MakeIt $60k available credit? Operator, we have an issue here.
MakeIt It's like my Local Sub Shop. Spend $30, get $5 Off Coupon they've been advertising lately. Except when we get it my bill is always around $20. So let me spend an extra $10, to get $5 of it back.
MakeIt Great job will bring money and its ended to the car.hes lucky enough.
MakeIt had published this article 1k times 🥴
MakeIt if you think this is cool you should dig into what $SOS did for NFT degenerates today
MakeIt I saved $60k one time n $3k per year by not buying tesla
MakeIt clickbait title, purchased thru 3rd party bc couldn’t buy car directly with credit. incurred a $1470 fee but $1800 (or 180,000 points) in rewards. essentially made $330 profit or can use points for a fancy vacation or hotel “worth” up to $5k
MakeIt But then had a 29% APY...sooo.... unless he's paying off his balance in full the long term of paying it off in installments would take 10+ years longer than a fixed loan at 2.9 meaning he will be paying that 5000 back and then some in interest payments.
MakeIt smart
MakeIt wow
MakeIt Is anyone getting concerned about CNBC and their unprofessional tweets? They don't seem to be as professional as they used to be. News about the analysts being I'll from working over 80 hours,filing a suit with Goldman Sachs concerns me with leve expertise we are being built.
MakeIt A 65-year-old made over $1,000 Cash back rewards from USAA.
MakeIt This is such an old story..
MakeIt That card offers 3% back in “select categories” and I rather doubt that a new Tesla is one of those categories and I rather doubt that car is being used for an internet business.
MakeIt Everyday you will see many reasons to testify about this great company on how they changed my lives financially thanks Rolandwolf123
MakeIt Most dealers only allow 5k to 10k on a credit card for the same reason. That 5k in rewards comes from the dealer. Zero sum game
MakeIt Yes everyone get out there and put a car on your credit card! Nothing pairs better with a depreciating asset than high interest debt! But at least you can use the 'rewards' to go on a vacation!
MakeIt Kekw
MakeIt His car has the capability of generating its own income, to pay down the over all price. No brainer.
MakeIt I maxed out mine on silver $13 to cripple the financial system and force delivery on the COMEX. Fuck banks and fuck this stupid kid, I'd rather shit in my hands and clap than have a Tesla.
MakeIt This is appalling.
MakeIt Luck 🤞
MakeIt WOW! This is news you definitely need to know. Thank you once again CNBC for your great journalism. 😘♥️
MakeIt But he bought a car worth half of what he paid for it so he's still down $25,000.
MakeIt horrible
MakeIt Why you keep tweeting this every third day? Are you the 29 yr old or getting some commission off this story ?
MakeIt *Paid content 🤔
MakeIt I don’t know a single vehicle retailer that would absorb a $1800 credit card fee… Unless the $60,000 included the $1800 credit card fee so he could glean $5000 in rewards.
MakeIt Hell I should try that
MakeIt 세계평화 질서유지 유대인 격리조치 해야합니다. 널리 인간세계(人間世界)를 이롭게 한다.
MakeIt find it hard to believe tesla would let you put the whole car on credit card, honda dealer would only let me put 3k....something to do with the fees they pay
MakeIt Don't worry. The 5k saved will go straight to repairs on that car or a rental car while if she uses the warranty.. Build quality is worse than Dodge.
MakeIt But will that offset the depreciation in value of the car once it is driven off the 'dealer parking lot'.? The model 3 typically loses 42% of its value in the first 3 years. This reduction in value is front loaded.
MakeIt This is Old. Do you guys tweet old news articles?
MakeIt I have a question... How does a 29 year old couple have right at 60k in credit cards?
MakeIt 5 year ROI: -493%
MakeIt And only $25,000 due in interest!
MakeIt Follow me I'll follow you back
MakeIt I'm about to make a play and profit $5,000 in airplane miles and put them into TSLA stonk! stonks Tesla $TSLA then flip the car for $69,000.
MakeIt tdmsbn but you won't let us get fast food on the Discover 😦
MakeIt I would imagine that interest rate suuuuucks 😂
MakeIt Should have just spent $60000 on tesla stock
MakeIt Yeah, I just read the article. Not a good idea for a few hundred bucks.
MakeIt And if he does not pay the credit cards bills when they come he will be paying a lot more in financing charges
MakeIt Credit cards are cooool
MakeIt What a Gylord
MakeIt She should have used that money to invest in tesla
MakeIt Why pay a bank 26% interest when I can pay the mob 10% interest ?
MakeIt I tried this b4 and most they let me charge was 5% because of merchant fee. I call bs!
MakeIt Can I get an electric car 🚗 from a Chinese car company for $12,000?
MakeIt The article didn’t mention that you need to pay your card immediately to make this all worthwhile
MakeIt Errr $5k on a $60k purchase would be 8% back in rewards... I call BS on that one. The best credit cards give maybe 2-3% back.
MakeIt The banking propaganda that comes outta this MF 😆😆😆😆
MakeIt Wait till we start buying them up with Bitcoin
MakeIt They could buy a decent $10.000 car which would travel without interruption for charging...
MakeIt Does he realize that he will be paying way more than this in interest payments?
MakeIt lol
MakeIt Guess he has the money to pay his credit card balance, otherwise his $5000 reward will disappear soon just paying interest on it.
MakeIt This advise only applies to very very few people who could afford to pay 60k in full now. The point of the article is the rewards outweighs the 2.5% fee to use the card, which is fine, but this is either a rich kid or a fool that has no concept of the time value of money/ NPV
MakeIt And what was the interest rates on that purchase? These kind of articles are for brain dead idiots...
MakeIt I call that ignorance
MakeIt That's huge..
MakeIt
MakeIt Points aren’t dollars. This must be paid placement.
MakeIt Wasn't this story from like 3 years ago?
MakeIt Uob bank 645 394 372 8 please healp poor people
MakeIt Did he install the pedals? very good joke...🔝🚖😀 Forza Toyota Full Hybrid Elettric
MakeIt
MakeIt Recommending people who sometimes take pictures or sell items on Craigslist obtain a business card with a limit this big so they could try this themselves is the most guy-wrenching part of this article. An editor at CNBC should have cut that.
MakeIt Nice post while people continue to suffer during COVID and the fight to raise the minimum wage goes on.
MakeIt We’ll be doing that as well!
MakeIt And how much in extra fees did he pay with the merchant for using a credit card? Come on cnbc with your clickbait
MakeIt Should have purchased a $5k car and used the rest as a house deposit
MakeIt If he was smart, he would have bought $60k in tesla stock, and bought a decent $10-20k used car.
MakeIt Why do your YouTube videos always contain interviews of the most random unqualified people
MakeIt The amount of garbage post made by CNBC, I think I’m about to block
MakeIt Has CNBC lost its mind?
MakeIt Now has has to pay 24% in interest on 60,000 dollars now he has a monthly minimum of $1700 a month for 5 years which means he would have paid $103,500. No financial sense, no student loan forgiveness.
MakeIt It's a warehouse cart ... But costs way more ... Morons .
MakeIt what interest rate?
MakeIt
MakeIt Article written two years ago. Had he invested that $60k in Tesla stock it would now be worth over $500,000.
MakeIt Your reputation is dwindling
MakeIt And Dave Ramsey gets a heart attack
MakeIt Credit Limit ? 🤷🏻♀️
MakeIt This is getting old.....you tweet this out day after day in random spurts....for 2.5 years now
MakeIt HFSP
MakeIt Yeah because everyone can redeem points for travel right now. LOL
MakeIt I just moved to your city, who wouldn't mind showing me interesting places?
MakeIt 😁
MakeIt I will always tell you about kellybrian__ _ he's one in a million I make money from home despite the world pandemic inbox him to know more about his crypto trade offers / 🙏🏻🙏🏻
MakeIt Are you guys sure the person didn’t pay off the cc afterwards. Effectively got 8% worth of rewards at no cost
MakeIt Wow fake news telling me to go into Credit card debt. amazing!
MakeIt Imagine if he would buy the stock instead!
MakeIt What a junk article
MakeIt When I bought my Mercedes they would only allow 10 grand on a credit card. There is a cost for businesses to use credit cards. That eats at margin.
MakeIt What's the interest rate on the credit card. 24% What's the interest rate on a mortgage loan. 3%
MakeIt is this what you consider important news
MakeIt Stop recycling old paid promotions. It's irresponsible.
MakeIt Read the article. Headline is misleading as usual. He only received $1800 in points plus a fee of $1470. That's $330 total. If you can get that and then pay the card in full to avoid interest payment then it's a good thing. You get something that you didn't have previously.
MakeIt A year from now: “A 29-year-old bought $60,000 of Bitcoin a year ago, and just bought two Teslas, a yacht, and a house.”
MakeIt CNBC why keep running same crap 💩 over and over ?
MakeIt Buying a new car with a credit card isn't normally a good idea or a possibility even. It's a good idea if you have $55,000 lying around, can get your hands on a business credit card with a high credit limit,and can use the reward for maximum benefit,like going to the Maldives
MakeIt What a backwards way of looking at things holy shit !! No wonder there’s is trillions in debt load !! He better keep focusing on the $60,000 debt not the $5000 “carrot” the card company trapped him with !!
MakeIt Time to unfollow.
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MakeIt BadAtMath
MakeIt That doesn’t make sense 🤦🏻♀️
MakeIt good
MakeIt So he went 60k in debt, with interest and only got 5k back? Sounds legit.
MakeIt RampCapitalLLC was this you Ramp?!
MakeIt Still a waste of money
MakeIt WTH
MakeIt Which bank gave 60k credit card limit, shit, fawk sbi
MakeIt This is such bs...
MakeIt jimcramer is likely getting paid for being the 1 cheerleader and BS man selling propaganda for TSLA. Jimmy Shill will start pumping next years battery day soon and for $2 million a year CNBC lets the shillman push betting in a fun way for the kids- $DFKG BET, bet, bet!
MakeIt I have read this same tweet daily for thr last two months. Get some new material.
MakeIt Smart
WholeMarsBlog MakeIt Correction: he bought it through a third party service which cost him 2.5% or $1,470 in order to get exactly $1,800 in points (which MAY be worth up to $5k with some hotels & airlines). Don't publicize this kind of BS.
MakeIt One week before one of the most significant elections in American history, and one of the candidates for president is hiding in a foxhole, refusing to speak to the press. All this in the midst of his documented criminal behavior. Absolute silence from the liberal media.
MakeIt Wait, that option didn't exist when I tried!
WholeMarsBlog MakeIt GrahamStephan bought another $78 Tesla? 🤣
MakeIt Bs most dealers won't let you put more than 3-5k on a cc
WholeMarsBlog MakeIt Should have financed the car as the interest rates are low right now and invest the cash in TSLA stock.
MakeIt I don’t feel like that would be worth it...
MakeIt There's no way this is a good idea unless you have the cash to pay the CC bill within 30 days
MakeIt So he's $55,000 dollars in debt because he wanted a rapidly depreciating luxury asset on high interest rate credit? Great plan.
MakeIt Because everyone has a credit card with a $60k limit.
MakeIt This is a marketing ad. Pass
MakeIt good luck
MakeIt This isn’t uncommon is it?
MakeIt I find a lot of dealers will not accept a card because they get charged a fee on the gross amount
MakeIt If he’s smart, take the 5K and invest it in Tesla. Use the return to pay of the balance
MakeIt Wonder how much elon paid for this ad
MakeIt How's this news? 🤣
MakeIt Tell someone who cares!
MakeIt How much is that interest rate?
MakeIt This article is 2 years old.
MakeIt Seems like people are just learning how credit cards work. Nice.
MakeIt Of he had the money to pay it off he's really smart he pocket $5k
MakeIt This 'article' is an ad that is disguised as journalism. Content Marketing
MakeIt How much will he lose in interest if he can't clear it in the statement period?
MakeIt How much will he lose in interest if he can't clear it in the statement period?
MakeIt
MakeIt You can afford it too investment and bitcoin is very profitable now
MakeIt Great deal!
MakeIt
MakeIt This is a solid clickbait article with zero newsworthiness. There are so many of and but to the $5k figure that there is no doubt this is a paid ad being peddled as a news article.
MakeIt Well, he can use his rewards to go fuck himself...
MakeIt This is an old article
MakeIt Is CNBC reposting articles? I feel like I've seen this tweet at least 5 times now.
MakeIt hi, to anyone reading this, can you please share my moms go fund me if you aren’t able to donate, it would mean the world to us ❤️ ❤️ 🙏🏽 thank you for all prayers, retweets and donations
MakeIt I’m all about paying every bill on a charge card which must be paid off each cycle. Earn points, improve credit score, and if your CC is stolen and used, it’s not your personal money being stolen. SmartMove
MakeIt Didn’t know you can get credit limit that high
MakeIt Most credit card doesn’t allow this make purchasing in this amount
MakeIt Baller!
MakeIt ALL GOOD. LETS DO THIS WAR. IM OKAY. Pizza?
MakeIt Which are of much less value for most regular redemptions - and on net very a small prize after the processor's additional fee. And - forgoing the low interest rates of secured car loans for credit card APRs? Even with an intro offer...hm... (Views my own; not of DoD)
MakeIt did he pay back to the credit card company in the 1st billing cycle or else you are hyping a false reward narrative by ignoring 15-22% in credit card interest payments....
MakeIt If you have the cash to buy the car, it is smart to buy the car with a credit card and receive the reward points. You have to be disciplined enough to pay that credit card off though.
MakeIt And paid $120,000 in interest. Sounds like a great deal.
MakeIt Poop in your hand and throw it at your dog and laugh at his expression! Fun times! Trump
MakeIt He should have bought the stock when it was floundering at $200 and he would have been able to buy Ten of them with no payments to his credit cards.
MakeIt Still a terrible decision unless he is worth over 1m
MakeIt Always a smart investment
MakeIt And that 60k car was worth 45k once out of the showroom.
MakeIt Dumb. 21% interest, to get $5000 in rebates. Could have paid cash for something less expensive, still got the $5000 of stuff and been out of debt. Pay cash for the car you can afford, not the payment you can.
MakeIt It’s BS. He used a 3rd party service to pay with the CC and it charged a 2.5% fee. The card that he used apparently earned him 3% cash back on the purchase and chase’s ultimate rewards site if used them on the chase website they have a higher value
MakeIt he should have bought TSLA shares instead
MakeIt Because he bought a Tesla or because he used a credit card?
MakeIt foxandfriends CBSNews cnn - How does China have a population of 1.3-1.4 Billion people when there top 400 most populated cities have 350-400 million & the geographic area is the same size as the USA
MakeIt i call bullshit, rewards arnt that good
MakeIt Shoulda bought 60k in call options and he could have bought 5k Teslas but CNBC only displays prudent investing advice
MakeIt If he had a line of credit that high and paid it off in one statement cycle or in a few months that would be lower than 5 years of auto loan interest then yes kudos
MakeIt Bs dealership won’t even let you put over 5k on a card, credit or debit... then they want a cashiers check
MakeIt nishchay_bahl
MakeIt ya'll didnt see the debate?
MakeIt Top.
MakeIt Where’s the repo man?
MakeIt Why is this news
MakeIt This is a terrible idea for any 29 year old reading this tweet.
MakeIt Terrible financial decision
MakeIt Calling BS on this
MakeIt This 69 year old bought $60,000 in TSLA in June and it's now worth $129,000.
MakeIt Added 60k debt
MakeIt And the credit card will charge him interest eternally 👏👏👏
MakeIt So they used an app that charged them 2.5% of the entire transaction. Is this an ad for that app? It sure seems like it is.
MakeIt He would be a millionaire if he bought TSLA stocks instead
MakeIt What is the purpose of this article?
MakeIt Assume he will pay the credit card off soon. Even if they gave him a 0% 12 month intro, he's toast if he can't pay it off. If he can, then cool move. Its only $5,000 per mo.for 12 mos!
MakeIt Car loan would have been cheaper unless they intend to pay it off immediately.
MakeIt Cars are going for 0% apr these days.. dude does not understand the time value of money. He could’ve taken a 3-5 year loan with ultra low interest rates and used his money for something with greater ROI. He’s capped his upside at 8% in today’s value.
MakeIt
MakeIt First of all you cant earn if you spend. It’s worded wrong, now maybe saved 5k in rewards on the total cost , yes.
MakeIt And if he doesn’t pay it off in the first month, he’ll be paying 18% or more on his car loan.
MakeIt Basically your article is like a game show that states the MSRP as the value, not the actual street value.....
MakeIt 9% cash back? BS.
MakeIt nvm....i read your click bait 'journalist report'.... the $5K is in cash equivalents, travel points.... whatever.....kinda hard to monetize that (or even use it since no one is traveling nowadays)
MakeIt WTF is this news?
MakeIt That sounds stupid, like buying $100 worth of salt b/c it’s 2 for one..financial tip-do not buy (get suckered in) anything you do not need now.
MakeIt oh yeah? how? tell me who is offering credit cards w/ a 10-12% cash back promotion.....
MakeIt If he doesn’t pay it off immediately, what’s the interest charge in month 2 on a rewards card at like 20%?
MakeIt Or he could of not paid the fee and invested that money and saved much more......
MakeIt Only a good strategy with new credit card with 0% promotional interest and he plans to pay it off before the promotion expires.
MakeIt Guy must be loaded that he has at least a 60k credit limit on his card.
MakeIt YOLO
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