This transcript was generated from the episode audio and may contain minor errors.
Financial analyst turns card comparison into cash. That is our story today, our throwback Thursday segment here on Side Hustle School. Welcome to the podcast, by the way. What a year it's been, episode 2,917 here. Wow. I should just pause and say again, what a year it's been.
All right. So last week in this series, we heard from a side hustler whose passion for organization and design morphed into a thriving side business. She was a bullet journaler, if you're familiar with that format. Even if not, basically she had this skill, she turned it into an income stream. That's what we're all about in different ways here.
Today in this feature, again, a fintech or a financial analyst fintech employee whose side project comparing credit cards grew into a profitable venture. We explore how her background in finance and commitment to user education created a trusted resource in a crowded market. There's lots of people in this space. I used to have a business in this space. It was really interesting. I learned a lot through that process, but we're not here to talk about that. We're here
to talk about Alicia and the success that she has found perhaps a lesson for you and me as well. So let's pass the microphone to her. I'm going to be back at the end with a quick little wrap up. Two years ago, I was a financial analyst by day and a personal finance blogger by night. Now, I'm Alicia Mendez and I run Card Choice, a credit card comparison site that's become close to my main source of income. The idea came from my own frustration. I was looking for a new rewards
card and found myself lost in a sea of conflicting information. Most comparison sites seemed more interested in pushing specific cards than providing clear unbiased information. I started Card Choice as a simple spreadsheet comparing the cards I was considering. I shared it on my personal finance blog and the response was very favorable, especially from readers who were used to bloggers pushing only specific cards that they got paid for. Those same readers asked for more cards to be added and for explanations of terms. Before I knew it, I had the beginnings of a full fledged comparison site.
I used a free WordPress theme and taught myself enough HTML and CSS to customize it. The real challenge was creating content that was both comprehensive and easy to understand. Instead of just listing card features, I explained what they meant and who they were best suited for. I created a calculator to help users estimate rewards values based on their spending habits. For the first six months, growth was slow. I worked on the site one night a week,
gradually expanding the number of cards reviewed. I was meticulous about keeping information up to date, which was time-consuming but crucial for building trust. The site started to gain traction when I introduced a card matchmaker quiz. Users could answer a few questions about their credit score, spending habits, and preferences and get personalized card recommendations. This feature got picked up by a larger financial blog, bringing in a wave of new visitors. As traffic grew, so did my affiliate partnerships with
card issuers. I was careful to maintain editorial independence, never letting commission rates influence my recommendations. This sometimes meant leaving money on the table, but it was essential for the long-term credibility of the site. Also, I didn't give up too much money. On average, card choice generates around $8,000 a month in referral fees. Technically,
it's enough to quit my day job, but I don't know that it'll be secure and keep coming every month, so for now, I'm still working full-time. This means I get to save almost all of the profit, which feels great. I'm continually working to improve the site. Like recently, I added user reviews and a forum for discussing credit strategies. I'm also exploring expanding into other financial product comparisons. By focusing on credit cards and committing to user education,
I've been able to create something truly useful in the crowded personal finance space. Alicia, thank you so much. I really appreciate you sharing those updates with us. As I said, it's a crowded space doing credit card referrals, but it's also a space with a lot of money, so you can end up doing pretty well if you're able to attract a user base. The commissions are often $100 to $200 per referral, sometimes more. When there's a big offer, it can be $300
or $400 per referral, so that just adds up, especially if you're encouraging people to get multiple cards, to get a card together with their partner, and so on. Consumer cards, business cards, et cetera, can be a pretty good business, so I appreciate the behind the scenes there. And listeners, let me know what you think. If you have a question and update, you know where to go, sidehustleschool.com. Some resources there as well. As mentioned,
this was episode 2,917. Thank you for being there. Thank you so much for listening. I do not take your attention for granted. I want to do a good job for you in every single episode, so I'm going to sign up for now, and get to work on the next one. My name is Chris Guillebeau. This is Side Hustle School.
From the Onward Project. From the Onward Project.
