CATEGORIES Auto & Trucks Business & Finance Computers & Internet Education Family Food & Drink Gadgets and Gizmos Health Hobbies Home Improvement Humor Kids & Teens Legal Marketing Men Music and Movies Online Business Parenting Pets and Animals Politics and Government Recreation & Sports Relationships Religion and Faith Self Improvement Site Promotion Travel & Leisure Web Development Women Writing Keyword Search Article Title Author's Name SITE MENU Search Submit An Article Submit Articles in Bulk Submit Press Release Syndicate Articles Distribute Articles Privacy Policy Terms of Use Link To Us Contact Us Site Map Home

Credit Card Wealth Secrets And Ideas  by: Steve Gillman "Credit card wealth secrets," the ad read. I assumed it was yet another over-hyped unworkable scheme. It probably was, but it made me remember the times in my life when I have used credit cards to make money. As Robert Kyosaki says, there's "good debt" and "bad debt. Borrowing for consumer items is bad-debt. You limit your future options, and you get less in life. It seems like more, because you get it now, but with interest, and the tendency to pay more when buying on credit, you'll never be able to buy as much as those who pay cash. Credit card wealth secrets have to revolve around the idea of "good debt." This is any borrowing that increases your income, or produces capital gains. So how do you get your credit cards to start doing that for you? Credit Card Wealth Creation A good friend once borrowed $6,000 from me at 9% interest. I didn't have the money at the time, but I had a credit card offer for a cash advance for 8 months at 5% interest. I loaned him the money for six months. Okay, a 4% spread meant only a $120 profit in the end, but it was easy. A better example is when we bought a little house in Montana. A cash offer would get us a great deal, so with our savings and a $2,000 worth of repairs on a credit card, we made it work. We paid less than $100 in interest before selling the house a few months later for a $6,500 profit. My money was tied up when my brother found a truck we could make some money on. I put it on a card, and paid maybe $35 in fees and interest. The car was sold ten days later, and we split the $950 profit. A friend of mine once borrowed $300 at more than 100% annual interest ($50 for two months). Why? To buy the tools he needed to re-start his dry-walling business. He probably made enough the first week to repay the loan. The point is that any debt - whether from credit cards or other sources - can be good debt if it creates more than it costs. I have known people that have started successful businesses or "flipped" houses for big gains with the help of credit cards. Get rich quick? Doubtful, but then my skepticism almost made me forget my own "credit card wealth secrets." About The Author Steve Gillman has been studying money for thirty years (and sometimes making a little). For interesting and useful information, visit his website, Unusual Ways To Make Money; http://www.UnusualWaysToMakeMoney.com This article was posted on September 13, 2005 Read More Articles from the "Business and Finance" Category: Fiscal Measurements by A. Raymond Randall Finding Capital by Matt Bacak Small Stuff And The Power Of A Penny by David. A. Goldsmith Business Card Printing: At Your Service! by Marlon D. Ludovice Business Insurance – And What You Need To Know by Vickie Scanlon Getting Discounts From Your Auto Insurance Company by Stu Pearson Bad Credit Auto Loans: Make Drive Free From Financial Glitch by Johns Tiel Louisville Mortgage by Mark Lambie When Business Needs Urgent Money!!! Commercial Bridging Loan by Celeste Parker The Lowest Business Cards Printing Services by Maricon Williams << Back to "Business And Finance" Index

Disclaimer: The information presented and opinions expressed herein are those of the authors
and do not necessarily represent the views of ArticleCity.com and/or its partners.

	Web www.articlecity.com