Your Introduction To The Credit Card Game
Your Introduction to the Credit Card Game, yes its a game you are gaming the system. Your goal to get sign up bonuses.
The credit card companies goal to make you go into debit. Debit is where the money is not the lousy two or so percent they get per transaction.
What Credit Card Company’s Do To Get You To Go Into Debit
The credit card companies invest fortunes into getting the average individual to open a credit card. Below is a list of some of what they do to pull you in.
- Credit Card call it by its name a debit card the more you spend the more you go in to debit.
- The “prestige” you feel good showing of the card its metal feel etc.
- The thrill of points you are earning for “free” . Ever wondered why they don’t give cash back. Well cash doesn’t give you the ability to dream and psychological it doesn’t subconsciously cause you to spend more so you can earn a “free” vacation.
- The excitement that comes along when they “congratulate” you on a credit limit raise. These feelings make you feel a warm feeling hey they trust me I’m doing well.
- Guess why there is no interest for the first 18 months, they don’t want you to think they want you to max it out. Then after 18 months they will charge you interest and not from that day but retroactively from the day you opened the card.
- Finally the last one I’m going to list is that when you swipe a credit card your mind register’s it as being a swipe. When you hand over cash your body trembles you feel like you are giving over literally hours of your life. You will purchase much less.
So How To Beat Them At Their Game
My philosophy no credit cards for personal reasons it is much tougher to tell yourself no to a chocolate bar because after all what’s the big deal its only $1 and same swipe.
I believe run your personal life as a business, this is how I go about it. Keep in mind I opened over 47 credit cards over the past 5 years earning over $20,000 of bonuses.
Plan ahead divide up your bills into lumps aiming to hit the required bonus amount as soon as you can on necessary bills. An example Auto Insurance etc. open up the Credit Card and pay in a lump sum. Such a large bill will help you immensely towards your bonus. Further your insurance should give you a discount for paying in full.
If you want do do grocery shopping plan ahead know what you want and keep in mind this is a business opening credit cards and every extra purchase is a loss.
In short the sooner you treat it as a business the sooner you are in business. I over the past 5 years opened 47 credit cards earning over $20,000.
Stay tuned as we travel further into the world of Credit Cards you will be amazed.
Looking forward to hearing from you,