About that AMEX Blue Business Plus and 0% APR

Introduction

I had written about the Amex BBP card’s 0% APR last month or so.  I wanted to give you and update on it and how to maximize it even further.

 

Moving credit lines

In the last post, I said I tried to move credit line from my Simply Cash card to the BBP and got an error.  However, after a few days, I noticed it actually did go through.  So while the rule of thumb is that you have to wait 60 days before you can move CL to a new AMEX, it seemed to work just fine for me prior to 60 days.

 

July statement

This is my July statement, which was my first statement.  Nothing special to see here.

 

August statement

In August, you can see I paid the $35 minimum payment from the July statement.  you can also see I moved my 9K CL to 23.2K CL.  I also charged over 24K in the month and so my new balance is $26.9K.  Since I’m $3.7K over my CL, that was my minimum due.  Also note I didn’t get charged any interest so far.

 

September statement

Come September, I paid the $3.9K minimum payment.  I also charged $2K and now I owe that same $2K on this statement.  So this is working as planned.

 

Going forward

Now that this is working as planned (even better as planned due to the CL shifts,) I’m gonna move my SPG Biz CL over since I don’t use that card often these days.  That way, the BBP’s CL will be around $50K and so I’ll only have to make the minimum payment.  I also plan on doing this with my wife’s account to get even more float.

What am I doing with all this float?  To help me pay off my other cc’s so I can have more float.  Will I forget about this next year?  No because I had a nightmare just the other night where I had racked up $780K or so that was going to come due.  I’ll put a reminder 3 months out of the major due date to generate the cash flow to pay it all off come due date.

  • justinkeiththomas

    My question, how has AMEX not audited you yet?

  • J. Greisman

    How do you find the time to MS 24k a month while juggling a full time job lol?

    • Miles per Day

      Haha it’s cute you think it’s only 24K

      • J. Greisman

        Ok now I’m scared lol.

        Serious question but feel free to not answer, compared to your regular income, how much does this side hustle (MS + resell) compare percentage wise? For instance would you estimate it being 10%, 50%, 100% (or more) of your salary?

        • Justin

          I’ll be surprised if you get an answer. That would pretty much reveal how much he does.

          • J. Greisman

            Not if Vinh did not reveal his salary…which is why I framed it that way. Just wanted to get an idea of time division, assuming Vinh works a regular 9-5.

          • Justin

            fair and he did answer so you were correct 🙂

          • Miles per Day

            It was a % of 2 unknown variables, so I was good with revealing. You can let your imagination run wild on the 2 variables.

          • Justin

            🙂 I did haha

        • Miles per Day

          If you consider post-tax income, I’d say it’s around 33%, give or take depending on what gig I’m currently in.

          • J. Greisman

            Ok, that’s definitely worth it. I was barely doing 10% in my hayday and I decided it was simply not worth it.

          • Justin

            Vinh, if you don’t mind: do you stick almost exclusively to typical MSing or do you also do GC reselling?

          • Miles per Day

            Both

          • Justin

            Vinh I just did the math.. wow. hats off

          • Skor

            Wow! 33% – that is impressive!

    • Justin

      I’ll throw in a comment as I was doing a fair amount at one time. I know Vinh does a lot more (tempted to pay him to find out how much haha). It’s pretty easy once you have a route down. Especially if that route is on the way back from work or on weekends. I made it a point to do stuff that was on the way and/or go at times when not too many people would be in line. Gotta be efficient.

      • J. Greisman

        Yeah I did that for about 2 months before I got burned out…every day after work I just can’t wait to go home, and it will take an army to drag my ass out of bed on a weekend.

        • Justin

          I can understand that but when you give me a choice between sleeping and making ~$30-40/hour I will take the latter. Had a couple hiccups in my routine so gotta figure out something new and get back out there.

          Vinh please don’t laugh at my #s! I know you’re out there grinding harder haha

          • Miles per Day

            I’m similar to Justin. I have a route every day. I don’t follow the route EVERY DAY because there are some days I value my time at home or I’m late for work. I only MS when I’m already out and about. I hardly ever make a trip purely for MS, but if my wife needs groceries, I’ll stop by a few places or if we’re on the way home from errands on the weekend and I drive by a place, I’ll stop in if I feel like it (a lot of times I just drive by.)