20 Million Reward Points & $3.2 Million Credit Card Limit: How Stephen Liao Went From 0 to Credit Wiz he's an interesting character and undoubtably successful, enjoy the latest installment from tai lopez

“When I first started, I had no idea what credit card points were. Now I stay at Ritz-Carltons and fly first-class for free.” - Stephen Liao

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The best way to learn history is to travel the world for free.

But our school system doesn’t teach us this. We’re tested on the year the Mongols invaded Europe instead of learning how to score free travel points from credit card companies so we can actually go visit Europe.

Today, Stephen Liao teaches us how to sift through the world of credit card perks to be able to do just this. Stephen dropped out of Stanford to figure out the credit card game just a year ago, and today he has a credit-limit that exceeds $3 million spread across 220 different credit cards. If he’s not flying first-class, he’s on a private jet. And if he’s not staying at the Waldorf Astoria, he’s at the Ritz-Carlton.

This is all because he’s figured out how to hack the credit card companies and beat them at their own game. Between the cash back, the flight miles, the discounts at other vendors, he distills all of it on today’s episode of The Tai Lopez Show!

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“Make this a law in your brain: only spend money that you physically have in your bank account. That way you’ll never go into debt and never miss a payment.” - Stephen Liao

(click to tweet)

Points to Keep In Mind

• Play the long game on credit cards. Don’t ever spend money you don’t have
• If you need to file a dispute, do it at CFPB.gov
• Discover it® for a beginner credit card
• Chase Freedom with 5% money back (MB) for an intermediate credit card
• Chase Sapphire Reserve for an advanced credit card
• Establish relationships with banks by paying 90-100% of your credit card payment. This will make the time when you need to do a CLI (credit card line increase) easier
• For those under 18, get authorized on your parents/relatives’ cards to build rapport with banks
• Ask friendly questions to the people at call-centers
• For people with bankruptcy history, adopt HUCA (Hang Up Call Again) philosophy when dealing with credit card companies over the phone
• Use uscreditcardguide.com to research each card’s points
• Figure out how to get ‘status’ with each credit card
• With Chase Sapphire Reserve/Preferred call annually to waive retention fees
• Try to get status with each card (ex: Delta’s status for travel allows you to upgrade to first-class for free)
• Join Tai Lopez’ credit mentorship at tailopez.com/credit
• Build business credit for business owners
• Don’t just seek out credit cards with cash back
• • There are some that let you convert membership rewards (MR) points to cash back
• Secured credit cards are for students or the unemployed
• • You give the amount of money that starts your beginning credit line (ex: Capital One Platinum)

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