This entrepreneur has 16 credit cards and tailors nearly every expense to each card for ultimate points optimization. (via CNBCMakeIt)
A 34-year-old San Francisco-based entrepreneur has a surprisingly high balance: 10,308,398. That's not his checking account balance or the amount of debt he owes — it's the total number of credit card reward points he currently has across over a dozen cards., a financial planning company — started playing the credit card points game in college, and more than a decade later, he's finally reached his dream of having more than 10 million points.
And not all the points are used to jet to exotic locales. Hutchins says he cashed in points for a flight to Denver last month because it was a better deal. Yet despite spending his rewards, he still racks points up at a higher rate than he spends them, hence the current 10.3 million total.But Hutchins is not average. He has 16 credit cards and a credit score of 817, while Amy also has several cards in her name, too.
What really accelerated Hutchins' points total was some extreme party planning. "In the last eight years, I've had plenty of friends decide to get married and every single time there was a bachelor or a bachelorette party, I volunteered to help plan it," he says. That meant that Amy, who works in business development at Lyft, had to get up to speed on how to best maximize points. In the beginning, when they would go out to dinner or shop together, Hutchins would quiz his wife on the best card to use to get the most amount of points.
"Thank god I married an optimizer so he essentially does [all the work] for me," she says with a laugh. "I joke with my friends and family that honestly, if he wasn't around, I don't know how I'd survive on my own because he's gotten so good at optimizing for me." And of course, you have to keep spending. Currently, Hutchins estimates he spends about $90,000 a year on all his living expenses, over half of which he puts on credit cards. Expenses such as the mortgage, property taxes and a dog walker are paid directly.
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