CRAZY New 5% CASH BACK Card + EASY $900 Chase BONUS

In this video, I want to talk about three things. We have a brand new credit card that's going to be offering 5% cash back on everything. We have a $900 cash bonus when you open a new Chase checking account with a very low spend requirement that most people should be able to do. And lastly, an easy way to get 20,000 Hilton points. Hey, credit warriors, welcome to the show. My name is Ben Hedges, aka The Credit Shifu. And on this channel, I cover US credit cards, personal finance and luxury travel. If you like the sound of that, do subscribe. and this video is brought to you by Silo who's launching their first ever transfer partner this month but more on that later so there is a brand new credit card that's offering up to five percent cash back on everything with no annual fee now if that sounds too good to be true well there are a few catches and uh one of them involves having a million dollars one million dollars but if you don't have a million dollars the card actually still offers an incredible cashback rate just not quite 5%. So let's take a look. The card is called the Flex Elite Credit Card, and it's a new personal credit card from a financial technology company called Flex. And the headline feature of this is cashback. Look at that, 5% back on everything. But actually, there are three different earning tiers, and which one you qualify for depends on how much money you hold in deposits with Flex. At the first tier, you earn 3% cashback on eligible purchases. And here's the interesting thing, though, you don't actually have to maintain any minimum deposit balance to qualify for that rate. So right out of the gate, we're talking about a no annual fee credit card that earns 3% back on almost everything. That's already pretty impressive. Most popular flat rate cash back cards like the Citi Double Cash, Wells Fargo, Active Cash, etc. earn 2%. There is now the X debit card, which I'm a big fan of, and that earns 3%. But it does require X premium, which is like $8 per month. The Robinhood Gold card also earns 3%, but you need Robinhood Gold, which is $5 per month, and there's a waitlist. So Flex is offering an extra percentage point without charging an annual fee. Or are they? Because there is a pricing page on their site where they advertise their Flex Elite tier of membership, and that is the same name as the new credit card. So will it only be available to Flex Elite members? I'm not sure. And will Flex Elite have an annual fee? Maybe. Or maybe there'll be a deposit requirement. I don't know. Let's assume that doesn't for now though. If you spend $30,000 a year on the card, that's $900 in cashback compared with $600 on a typical 2% card. But that's only the beginning. If you maintain at least $250,000 in deposits with Flex, your cashback rate increases to 4%, 1 million or more, and you unlock the highest tier, 5% cashback. Now 5% on everything is an absolutely massive earning rate. For example, if you spend $50,000 a year on your card, that's $2,500 in cashback. But here's where we need to talk about the catch. To get that 5% rate, like we said, you need to keep a million dollars deposited with Flex. And that's a lot of money to have sitting in an account just to earn an extra couple of percentage points on your credit card. Flex's deposit accounts currently earn around 2.47% in interest. Now compare that with a hypothetical high yield savings account paying around 4%. On a million dollars at 4%, you'd earn 40,000 per year versus 24,700 at Flex's lower rate. The difference in interest would be $15,300. So even if you were spending $100,000 annually on the card, earning $3,000 in extra interest compared to a 2% cashback card, you wouldn't come close to making up that difference. Now there's another restriction worth knowing about too. For the 4% and 5% tiers, the elevated rewards only apply to spending up to your credit limit during each billing cycle. So let's say you have a $10,000 credit limit, you spend $10,000, pay it off early, and then spend another $5,000 in the same billing cycle, that additional $5,000 would only earn 3% rather than the 4% or 5%, whatever tier you're at. Put simply, the annual limit for the 5% on everything would be your credit limit times 12. So in the case of a $10,000 credit limit, it would be $120,000 per year you could earn 5% on. There's also no welcome bonus currently being advertised, although I think I can forgive them for that considering the special nature of this card. Another important point is that the card is currently invitation only, with interested customers able to request access through a waitlist. So what is my verdict? Well, actually, I think the most interesting part of this card isn't the 5% rate, it's the 3% rate, because a no annual fee card that earns 3% back on eligible purchases without requiring a six figure deposit balance could be genuinely competitive. This could become one of the best one card setups for cashback people on the market. Obviously, we'll have to find out if it is only available to Flex Elite members when it comes out. So there may be some monthly fee to be a member of that, and then you get access to the card for free, all right, Robinhood Gold or X Money style. The 4% and 5% tiers, on the other hand, are much harder to recommend unless you're already keeping substantial deposits with Flex for other reasons. So let me know what you think in the comments below. All right, let's now talk about a $900 Chase bonus and then an easy 20,000 Hilton points. But first, if you've been watching our channel for a while, you've definitely heard me talking about Silo. Silo. Silo. Silo. Silo. Silo. Silo. Basically, they've done for investing what Bilt did for rent. Silo allows you to earn credit card style points on your portfolio balance. The annual multiplier is 0.5 points per dollar on your total account value. So if your portfolio is $500,000, you get 250,000 points per year. Silo points are redeemable for cash at 1 cent per point, or you can use their travel portal to book at up to 1.3 cents per point, depending on your membership tier. Now, here's the big update, though. Silo is finally launching its first transfer partner. Yes, I know we've been talking about this for a while, but it is finally happening. I can't say which airline it is, but I can say it is a one to one transfer rate and it is a Star Alliance airline, which is one of the big three airline alliances and thus you'll be able to book 26 different airlines including United, Swiss and Singapore Airlines. Many credit card points transfer to this particular airline in Star Alliance too so this gives you another source to earn points and reach those milestones faster. And transferring your points out to an airline and booking normally means you get way more value per point when booking premium cabins. For example I've got six cents per point when booking United's Polaris business class. With the launch of their first transfer partner, Silo is officially exiting their beta, or is it beta? How do you say that? I don't know. Anyway, and switching to their long-term points earning rate of 0.25 points per dollar in November. But anyone who signs up by the end of October will lock in that 0.5 points per dollar rate for at least the first year and will likely be grandfathered in for life. Silo is also running a new member bonus of 250,000 points to celebrate the launch of their first transfer partner. Accounts are covered by 5 million in FDIC insurance and 500,000 in SIPC insurance. So if you want to lock in 0.5 points per dollar on your stocks and earn up to 250,000 points as a new member bonus, use my link below silo.com/ben to get started by the end of this month. So Chase has just launched a huge new $900 checking account bonus. And this is actually one of the best bank account offers we've seen in quite a while. And the best part, you don't have to deposit $15,000 into a savings account or maintain a huge balance to get it. So here's how it works. Open a new Chase total checking account. And depending on how much money you receive in qualifying direct deposits during your first 90 days, you can earn one of three bonuses. If you receive $2,500 in direct deposits, Chase will give you $425. That's actually quite a lot anyway, and that's just the first tier. Increase that to $5,000 and you'll get $600. But if you receive $10,000 or more in direct deposits, you'll get the full $900 cash bonus. And remember, that's $10,000 total direct deposits over 90 days. You don't need to deposit the entire amount at once, and you don't have to keep $10,000 sitting in the account. So for example, if you earn around $50,000 per year, that's a little over $4,000 per month in salary. After taxes are taken out, it's gonna be around 3,500. You could potentially qualify for the full $900 bonus just by switching your paycheck deposits to Chase for three months. In the past, we've seen the same deal, but you had to deposit $15,000 in Chase Bank. So this bonus with the lower spend requirement, the lower deposit requirement, I should say, opens it up to a lot more people. Just remember, it is 90 days, not three months, and some months have 31 days. so you may need to try and get your paycheck early the last month or get your paycheck late the first month just so it falls within the 90 days. Just a few catches with this the offer is only available if you don't currently have this account open and you can't have had a new account bonus in the last two years. Second must be genuine deposits like your salary etc and thirdly Chase Total Checking normally has a $15 monthly fee you can waive it by getting at least $500 in qualifying electronic deposits each month. Now this offer is currently scheduled to end on January 27th, 2027. So if you've been considering switching banks, this is definitely one offer worth checking out. Although this offer is open to everyone, you do need a direct link. I'll paste it down below. All right, lastly, let's talk about how to get an easy 20,000 Hilton points. So there is currently an Amex offer out there where if you spend $200 at Hilton properties in the US with your enrolled card, you get 20,000 Hilton points. It's valid from October 12th to the end of the year. I assume this is on the Hilton Amex cards, although the articles about it don't actually specifically say that, but I was able to confirm by searching on my own Hilton Honors Surpass card, and I had an offer for 15,000 points after spending $400 at Hilton, and it says it's a new offer, so it is part of this new offer that's just come out. So there are actually two offers out there, one for 20,000 and one for 15,000 now obviously the 20,000 one is better but if you don't get it you may get offered the lower one like me remember you do need to add it to your card for it to be active all right guys that's the video for today don't forget to check out Silo in the links below if you want to lock in 0.5 points per dollar on your stocks and earn up to a 250,000 point new member bonus use my link silomarkets.com slash ben to get started by the end of this month please subscribe if you're new we'll see you next time bye