Credit Card Consolidation, And How To Make Money From It!

Hi,

I used to be in debt up to my eye balls, but I learned a few things the hard way that I'd like to share with you and the rest of the world.

The first thing I want to say is I use to be a gambler. I spent huge money online and got in serious debt and ended up needing professional help. I learned how to talk to credit card companies after they threatened to take my house. I thought once I kept my bank happy then my house would be secure..wrong!

I soon found out in my terms and conditions with my credit card company, that they are entitled to everything in my name and in some cases your spouses stuff too. I got help to manage debt from my accountant (I went to school with him) and he got me out of the red. However I still had to go to court and sell my 2 cars.

I found that being straight with the judge and explaining that I had a gambling problem, that he was very lenient. He made me pay back only what I could afford to pay which was a terrible weight off my shoulders. I learned also that credit card companies like insurance companies, employ people to phone customers that owe money. So expect harassing phone calls, its all apart of the game. And the person ringing you is only doing their job.

GET OVER $400 OF CREDIT REPAIR BOOKS HERE FOR FREE

You may like to know that most credit cards are calculated at an APR (annual percentage rate) of 21%. That means if you owe them $1,000 you now owe them $1,210. The part to note is thats over one year(annual) so thats only if you have a lend of that money for 12 months. This again is all in your terms and conditions, this may differ according to different cards and promtions so check yours carefully.

Next thing I noticed, you can actually cost your credit card company money!

This is what card companies hate the most -

For example:

If you have a limit of $600 on your card and your terms state you have 4 weeks before your charged any interest. The thing is companies want you to miss your 4 week deadline so they can charge you interest on your money owed.

If you pay the money back every month on time, your getting a 0% interest free loan. Visa and Mastercard take out HUGE loans from the world bank and various institutions at a rate of say 4%. That means you cost visa for example 4% of your money every year. If you took out and paid back $600 every month, that means over a year you had $600 of visa's money and they never benefited.

You actually cost them 4% of $600, because they have to pay back your $600 loan with interest. So you actually cost them $24 plus all the letters, stationary and staff they have to pay. Any profit they do make is also taxed aswell so its a tough game for them too.

How to make money from a credit card -

Right think of it like this, you take out $150 a week and over a month thats $600. The next month you now owe $600 BUT you only owe them money when you have it for 4 weeks (28 days). So the next month you owe them $150 a week before they apply interest. So when you pay them back the first $150, you could take out another $150 and use that to pay off next weeks' $150 bill and keep doing that.

You can actually set this up using direct debit, so theres EVEN less work. Your now after getting $450 FOR FREE. Now think about could you get an even bigger credit card?

I'm sure if you missed a couple of payments and let them apply a bit of interest, the credit card companies would take you for a sucker and give you a bigger credit card.Remember they only make money when you mess up!

So what happens if you land yourself a $10k limit card then? Hmmm now its interesting, you now have $7,500 FOR FREE. Now to do this in an even bigger way then I recommend getting one of the guides you'll see featured on this site. Long story short, you can get bigger limits and multiple cards and expand to using off shore accounts and make huge money out of this.

This info I've given away is regarded as a trade secret, they don't want you know this. They especially don't want you to end up making $100,000's of dollars off them at their expense PLUS interest.

Finally if you bothered to read all this, you may have figured out how I swindled my way out of debt and ended up making a killing and beating the card companies at their own game. You just need to know the rules of the game first! If you found this info useful then take my mini-course and get some inside track knowledge and let your debts, start making you money.

Enjoy, Vince :)