Making the Most of Your Business Spend ft. BowTiedBum

The exact method I use to get free vacation and travel, thanks to my business.

Today’s post is brought to you by

BowTied Bum

who specializes in credit card cash back and rewards accumulation.

By using what he teaches inside his own newsletter, I have heavily increased the amount of cash back I get on my Amazon and LEGO investing spend.

It’s free money, so I heavily recommend you take advantage of it.

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BowTied Bum

here. Friend of Jarek and in awe of what he’s been able to teach his audience via his newsletter.

I’d like to show you how you can combine what he has taught you with some incredibly profitable credit card strategies.

You should know that every $100,000 you spend on your business, you can earn up to $15,000 by signing up for credit cards in a strategic fashion.

This is how many business owners, Jarek and I included, travel and vacation for free without ever paying out of pocket for it.

Jarek chiming in here, he is correct. I haven’t paid for a flight in 5+ years and I always fly first class because I have more rewards points than I’ll ever use

With that being said, let’s jump right into it.

For those that don’t know me, I also have a newsletter here on Substack and a Slack community that discusses how to use credit cards to generate lucrative returns. 

My newsletter outlines exactly which credit cards to get, which order to get them, how to generate spend to make sure you get the signup bonus.

My Slack Group helps you answer any questions you have along the way.

Almost all of the members in my Slack Group are on track to earn $10K+ credit card rewards their first year in this game. 

They can expect to earn an additional $10K each year of their membership, by using these tactics.

Basic Overview of BowTiedBum Tactics 

Credit card issuers love to compete for your business, and offer lucrative signup bonuses as a way to do so.

You’ll often see credit card commercials showing a couple vacationing at a lavish resort or sipping a frozen cocktail while lounging on the beach.

The credit card issuers can afford to do this for two reasons:

1. They charge merchants a processing fee for each transaction

2. They know that many of their customers will get sucked in, thinking they can get a free vacation, but will fail to pay their bills on time and rack up tons of debt at high interest rates

Here’s how the game works…

Banks offer a signup bonus for premium credit cards (usually between $500-$900) after you hit a certain minimum spending requirement (usually $3K-$5K). 

Once you complete the spend requirement in the time period (usually 3 months), you get the points deposited in your account.

Again, they offer this knowing that many people will go into debt, will not hit the signup bonus, and just be overall irresponsible with their spending in general.

The banks are playing a game where they try to hook you in and trap you, like a fisherman using bait. 

My job is to help you rob the banks and beat them at their own game!

Chase Business Cards

Business cards often offer more lucrative sign up bonuses than personal cards.

That’s great news if you’ve been listening to Jarek and have already started an Amazon FBA business and/or a LEGO investing business!

A common response I get to this is, “I don’t have a business yet though.” 

Many issuers (particularly Amex and Chase) are very lenient in who qualifies for business cards and will issue them to basic sole proprietors.

To be clear, if you sell anything online such as baseball cards or furniture on Facebook Marketplace, you can often qualify for a business card.

My favorite card is the Chase Ink Business Cash, because with a few tricks, you can generate 8% back on all purchases.

It also has a $900 bonus after spending $6,000 in the first 3 months after opening. 

That’s a 15% return on $6,000 spending. Best of all, this card does not have any annual fee, so you can keep it open forever.

Good news! There is also an additional no-annual fee Chase business card that also has a $900 sign up bonus. 

The Chase Ink Business Unlimited also offers a $900 bonus after spending $6,000 in the first 3 months. 

Chase usually makes you wait 30 days in between applications, but many people in the BowTiedBum Slack group have had success applying for (and getting approved) for both in the same day! 

*Note* In the Slack Group, we have a shared spreadsheet that tracks all approval data points to help you make informed decisions.

To be clear, if you apply (and get approved the same day) for a Chase Ink Cash, you can also apply for a Chase Ink Unlimited that same day!

It gets better (we’re just getting started). 

If you have a spouse, significant other, etc (we refer to them as Player 2 or P2)… You can have them apply as well for the same cards and get the same bonus. 

Here’s what $24,000 of business spending looks like following the BowTiedBum tactics: 

With $24,000 household spend (2 Chase Ink Cash’s and 2 Chase Ink Unlimited’s), you’d generate $3,600 cash back.

Worth SIGNIFICANTLY more if redeemed for airline or hotel travel.

This is simply from just two cards each. 

After a month or two, you can apply to the same cards and get the bonuses again (refer to the spreadsheet in the Slack group for data points), and many Bums have been doing just this. 

Additionally, there are multiple other cards to get, and the Substack/Slack outlines the order so it takes all of the guesswork out.

*Note* If you get denied for any of these cards, make sure to call the reconsideration line.

 Oftentimes, they just need to verify some basic info like your address.

The Slack Group has a 90%+ approval rate after calling the reconsideration hotline. 

Generating Spend

The first question I always get is “but I don’t know how I’ll spend that much.” 

We have two options:

1. Buying inventory for your Amazon FBA or LEGO investing business

2. Manufactured spending (purchasing cash equivalents or items that can easily be converted to cash) 

Let’s have a look at the first and best option, your own business.

Amazon FBA and BowTiedBum credit card hacks pair perfectly together, as Amazon selling requires a lot of spend.

If you have any other biz that requires spending, that works too and will make this game much easier. 

If you still aren’t convinced to start your own biz, you’ll have to do manufactured spending. 

Some of the popular manufactured spending techniques in the BowTiedBum community are gift card reselling (don’t do this during the signup bonus period though), buying groups, and paying rent. 

Buying groups are very straightforward and one of the first MS methods that newbies start with. 

You sign up for a service like mysbuyinggroup.com or BuyForMeRetail, and you purchase products to send to them from retailers like Amazon, and they send you a check or ACH payment in return. 

Why do they do this? 

They purchase in demand items that usually have quantity limits, so they get people like you to send them those items, so that they can resell them later. 

*Hint* If you’re a hustler, oftentimes you can see which items are in demand and either sell them yourself either locally or online. 

8% Back Play

Before giving away too much sauce, I’ll leave you with a bonus gem. 

I get 8% back on every single purchase.

I put all of my spend on my Citi cards (either Citi Double Cash or Citi Premier). 

This gets me 2% or 3% back. 

I then buy no-fee gift cards online that code as 5X (for office supply category with Chase Ink Cash). 

I can use these gift cards as “debit cards” to pay off my Citi balance, to generate 2% + 5% for a total of 7%. 

Afterwards, I can use Chase’s PayYourSelfBack feature to redeem my Chase points at 1.25 cents per point.

What $100,000 of Business Spend Looks Like

While there are multiple paths to take in this game, to get a solid return on $100,000 spending, my favorite is to start by loading up on Chase Business cards. 

This example below assumes you have a Player 2 playing this game with you:

CIC P1: $900 

CIU P1: $900 

CIC P2: $900 

CIU P2: $900 

I would apply to these cards three times (with each player) in the following 12 months, waiting at least one quarter to do so. (Example Q1, Q3, and Q4 apps) 

Results? 

$72,000 spend and $10,800 cash back.

In addition to the above, I’d grab a Citi card (either Double Cash or Premier) to unlock the 8% play.

Then?

I’d sit tight and wait until one of the Amex cards (Gold or Platinum Personal or Biz) was back at an all time high Sign up Bonus and grab it.

Conclusion and Action Steps 

I realize this sounds a bit overwhelming at first, but most people get over the learning curve after they spend a few weeks in the Slack Group and read my newsletter posts.

I provide all the spreadsheets you need to stay organized and on track.

I know it also sounds time consuming but once you get over the learning curve it shouldn’t take more than a couple hours a week. 

You could do 95%+ of this game on your phone during your lunch break at your W-2. 

The Slack Group is a great place to ask any questions and get a quick response. 

If interested in getting involved, join the Slack community by DMing me on Twitter with the email you used to sign up for Substack and make sure to read the “start here” post. 

Q4 is a fantastic time to join, because the Buying Groups have lots of Black Friday and holiday deals, so it’s the easiest quarter to generate manufactured spending. As always, if you have your own business that is significantly better!

Additionally, make sure to check out this post to learn how to quickly pay for your membership:

Stop Paying Out of Pocket for Your Damn BowTiedBum Membership!

I’ll answer any questions in the comments below, and look forward to helping you guys rob the banks!

Remember, Banks are Zeros.

Feel free to ask any questions below.

Disclaimer: None of this is to be deemed legal or financial advice of any kind