How to get your credit cards to pay you.

It’s very simple to get your credit cards to pay you for using them.  In order for this to work you need to have discipline.  Hers what you do:

Open a new credit card that gives you cashback like discover or has another type of point system to give you rewards or cash back.  Use this card to pay for every purchase that you make.  When your statement comes, pay it in full - every month, no exceptions.   And that is where the discipline comes in.

You need to be able to spend no more than you would if you had cash. It’s not easy to do.  Then pay the bill in full every month - treat the credit card like it’s your money, not free money.

Every month that you do this you will gain points for using the card, these points will accumulate and you’ll eventually get cash back.  At this point your credit card is now paying you to use it.

It’s actually more convenient to do this.  Use your credit card to pay all of your bills online and you will save money by not having to buy stamps anymore.  The more you use the card to pay for stuff the more the card pays you for using it.

This method also has two more benefits - First, if you are disciplined enough to do this for over a year your credit score will go through the roof.  And remember, the higher your credit score the lower your APR. The second benefit is the fact that your borrowing power will go up.  Your credit limit will eventually grow to be over very high if you can prove you’re disciplined.  This will allow you to be able to do what you want when you want.  If you want to start a business or buy a boat, or whatever, you will always have a borrower to fall back on.

 

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