Just dropped: 4% cash back card, more points and money hacks!

December 31, 2024

This Week’s Money Map:

  • 💳 A 4% cash back card? Is this for real?!

  • 💵 Credit card points strategy (part IV): Boost points with business cards

  • 💰 Money hacks (part III): The secrets your banker keeps quiet

  • 💸 Tax update: Your 2025 tax brackets are getting a glow-up

  • 👌 Maximize rewards now: Transfer bonuses galore

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💳 A 4% cash back card? Is this for real?!

Wow. I'm usually all about those credit card points, but 4% cash back is the highest we have EVER seen … with one catch.

The U.S. Bank Smartly™ Visa Signature® Card stands out with a solid 2% cash back rate on every purchase — no rotating categories or complicated hoops, just a straightforward high return. But if you keep $100,000 or more in a U.S. Bank Smartly savings account, that rate jumps to an incredible 4% cash back!

I’ve never seen anything that high on all purchases, especially from a major bank. Yes, the catch is that you need to have $100,000 in an account — and that is A LOT of money — but if you need a new savings account, this may be an opportunity for you.

Add in the Visa Signature perks — like travel and purchase protections — and it’s even more appealing. If you can meet the balance threshold, this could be one of the most rewarding cards out there. Even if you don’t, that easy 2% on all purchases is still tough to beat.

Applications just opened two weeks ago. For those looking for simplicity and a huge cash back rate, jump on this card!

💵 Credit card points strategy (part IV): Boost points with business cards

Think business credit cards are just for big companies? Think again! If you're a freelancer, side-hustler or even occasionally sell stuff online, you can apply as a sole proprietor using your Social Security number.

These cards pack a serious punch, with mega sign-up bonuses and sweet reward categories. Heads up though — expect higher initial spending requirements to score those tasty bonuses. Here's the scoop on unlocking these hidden gems.

How to Pick the Right Business Card:

1. Evaluate business spending categories: If you spend on advertising, gas or office supplies, pick a card with bonus points for those categories.

2. Look for high sign-up bonuses: Business cards often have larger bonuses than personal cards, so take advantage of them. I’ve seen as high as 300K for a targeted offer, but typically, they are in the 90K to 150K bonus point range.

3. Choose flexible points: Like with personal cards, transferable points offer more redemption options for business and personal travel.

Power Play: Personal + Business 
Combine business cards with your personal credit card strategy to multiply your rewards. Focus on bonus categories and keep expenses strategic.

Ready to level-up your points game? You don't need a Fortune 500 company to qualify! Check out our complete business credit card guide to find your perfect match and start earning points like a pro.

💰 Money hacks (part III): The secrets your banker keeps quiet

Think you’ve heard all the money-saving secrets? Think again. These clever strategies could have even your banker re-evaluating their game plan.

The "Savings Challenge Arbitrage"
Banks like Prize Pool and Yotta offer prize-linked savings accounts where your deposits earn you lottery-style entries instead of traditional interest. This unique twist can lead to returns of 4–8% APY in 2024, far exceeding typical savings accounts. Curious about other high-earning options? Check out MoneyGeek’s guide to high-yield savings accounts.

The "Bonus-Hopping Bankroll"
Why settle for low savings interest when banks are offering cash bonuses just for parking your money with them? For example, SoFi is currently offering a $250 bonus for new customers who deposit $5,000, while Chase’s new checking customers can snag $200 by meeting simple balance and activity requirements. The real kicker? Once your bonus clears (usually after 90 days), you can move your money to another bank promo and start over. Repeat this a few times a year, and you could easily pocket a few thousand dollars. 

The "Debt Recycling Technique"
Using 0% balance transfer cards saves borrowers nearly $2,000 in interest annually. Pair that with investing the extra funds into Series I bonds (which still deliver around 4.35% APY) and you're reducing debt while growing savings. Check out MoneyGeek’s debt management tools to master this.

Take one of these hacks and master it this week — your bank account will thank you. For more cash-growing strategies, explore MoneyGeek’s money-saving tips.

💸 Tax update: Your 2025 tax brackets are getting a glow-up

Good news from Uncle Sam: Your 2025 taxes just got a bit more exciting. Yes, taxes can be exciting — especially when they mean more cash in your wallet. Here’s what’s changing and how it impacts you.

You Get to Keep More of Your Money
In 2025, tax brackets are increasing by about 5.4% thanks to inflation adjustments. What does that mean for you? It means more of your income is taxed at lower rates. 

For example, if you’re single and earning $50,000 a year, you could move into a lower tax bracket next year. That means less money for Uncle Sam and more for your savings, bills or maybe even that long-overdue vacation. For middle-income earners, this adjustment can translate to additional hundreds or thousands of dollars saved for the year. That’s what we call a win!

How to Take Advantage of the Changes

  • Max out your retirement savings: Contribute the full $7,000 to an IRA — or $8,000 if you’re over 50 — to reduce your taxable income.

  • Keep those receipts handy: If your itemized deductions exceed the new standard deduction of $14,600 for singles or $29,200 for married couples, itemizing could save you even more.

  • Work from home? Don’t overlook the home office deduction!

Don’t Skip Last-Minute Prep
Avoid penalties by making an estimated tax payment by January 15, 2025. Feeling stressed? Filing for an extension is totally fine — just be sure to pay what you owe by the deadline to dodge interest fees.

Want to take control of your tax strategy? Visit MoneyGeek’s tax resources for expert tips and strategies to save more in 2025 and beyond.

👌 Maximize rewards now: Transfer bonuses galore

Want to stretch your rewards further? Transfer bonuses are the ultimate hack for making your points work harder. These limited-time offers can supercharge travel plans and help you snag bigger perks for fewer points. Let’s break it down so you can cash in while it lasts.

What Are Transfer Bonuses?
You sometimes get bonus points when you transfer points from your credit card program to a travel partner. For example, with a 25% transfer bonus, 10,000 points become 12,500 — just for being strategic.

Here are the latest offers to help you plan:

Why They’re Worth It
Transfer bonuses give you extra bang for your buck. Programs like British Airways Avios, Marriott Bonvoy and Air France/KLM Flying Blue often run these promos, letting you book dream vacations or score luxury perks for fewer points.

How to Maximize the Value

  1. Plan smart: Match bonuses to your upcoming trips. Got a vacation in mind? These bonuses make it even better.

  2. Act fast: Transfer bonuses don’t last forever, so don’t hit snooze.

  3. Know the rules: Not all transfers are instant. Confirm the timing if you're booking soon.

Start Maximizing Rewards Today
Your points are worth more than you think! Learn how to make the most of transfer bonuses with MoneyGeek’s guide to travel credit cards and rewards points strategies.

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- Benjamin Franklin

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The MoneyGeek Team

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