How to Make Money Using Credit Cards

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By Miguel Dos Anjos  

Lots of people hate credit cards and avoid them at all costs, and I do not blame them. Credit cards can ruin a person’s name when wrongly used, but, there is a place for credit cards, especially once you fully understand the system and can make it work in your advantage.

When to Use a Credit Card
The secret here is not to charge your credit card buying things you don’t need because you will get a small percentage back. You have to use your credit card every time that it is possible to buy things you were going to buy anyway, like, food, groceries, house expenses, phone bill, gas, etc. Instead of paying cash for these things you swipe your credit card. Now you are getting that percentage (usually 1% – 6%) back, small yes, but it’s great since you were going to buy those things anyway like food or your phone.
Equally extremely important is to pay the credit card in full at the end of the monthly billing cycle. This is the only way this strategy can fully work. If you do not make a full payment and let the credit card bill snow ball into next month’s bill that 1 to 6 percent that you were collecting means nothing, because the credit card company would then collect 15% to 30% off of you. This is the reason, even though we are now buying everything with a credit card we still can only buy things that we could buy cash anyway.
This is the secret to go around the system. I have not paid one penny to credit card companies for over 5 years, and I collect about $200 yearly off my credit cards. This revenue number could be so much higher if it was somebody else, but for me this number is ok because I have cut most my expenses everywhere, so at this point there isn’t that many things I buy anyway.

Only Use the Credit Card if You Could Buy It Cash at that Moment
Only buy things with the credit card if you are able to pay for it with cash as well, because if you cannot afford it now, you will not be able to afford that bill next month when it will be piled up with that month’s expenses plus the interest the credit card company will then; be collecting from you.

Find the Best Credit Card Offer that Fits Your Needs
Now that we know all these strategies we need to find the best offer out there. Credit cards collect a fee from merchants on every transaction. Another reason, banks can afford to offer great cash back deals is because the majority of people do not simply collect that cash back, but allow banks to instead collect from them, and even worse, thinking that they will get their money back, go all out and spend more than they would if they were not offered that cash back reward.
Another point to take in consideration are the fees that the card may include. If the cash back percentage is great but the card will charge monthly fees it might not be the best option, since there are so many fee free cash back credit cards out there for most people that would be the best way to go. 
It is your choice and option to be the one colleting the benefit or to be the one paying, so other people can collect these benefits. In reality if the majority of people followed the steps I suggest, banks would stop these offers.  

Let’s Go Over These Steps Again:
1-      Only swipe the credit card for things that you were going to buy anyway.
2-      Only buy things with the credit card if you are able to pay for that item in full with cash at that moment.
3-      Pay the credit card bill in full every monthly billing cycle.
4-      Find the biggest percentage cash back credit card with $0 fees, or monthly fees.
Besides collecting some free cash you will also be building up your credit score, and name as a person that pays on time, and manages money well, which; these days can help you find a good job, rent a good location, buy a car, a house, or any other investment that requires financing.
Do you already follow any of these strategies? Do you have a strategy that works for you that’s not listed here? Let us know in the comments bellow.
Thanks for coming! Have fun making free cash!

Our video on this subject: How to Make Money Using Credit Cards

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