Credit Card Interest

I have always made money from my credit cards; I have never purchased anything with them that I couldn’t sell for more than I paid for it.

I know a lot of other people who don’t look at it that way, but I look at all credit cards as a tool to help me make money, that’s all they are to me.

I just read a credit card company report that said about 5% of the credit card accounts are 30 or more days past due, this does not surprise me.

My cousin has a great job and makes over 100k a year but keeps his credit cards charged up all the time.

Over the years while I have made thousands from my cards, he has paid thousands for his.

He once missed several days of work because his car broke down and needed some repairs. The repairs were done but he didn’t have any room left on his credit cards to pay for it. The guy wouldn’t give him the car until the bill was paid so he had to sit at home until payday so he could get his car back.

I had a friend who was much better with his credit but he would figure out to the penny how much he could charge today and be able to make the minimum payment next month.

He didn’t mind paying what ever interest he was charged.

Both of them have paid thousands and thousands over the years in interest.

Just the thought of paying interest for buying something makes me cringe.

If there is any interest to be paid I want it being paid to me, so on occasion I have pulled money off my credit cards and loaned it out when the points and interest was worth my time.

Use your credit cards wisely and you’ll be all the richer for it.