Universidad Tecnológica de El Salvador
How You Can Profit from Credit Cards
Book

How You Can Profit from Credit Cards

Using Credit to Improve Your Financial Life and Bottom Line

Curtis E. Arnold
FT Press, 2008
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Editorial Rating

8

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  • Innovative
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Recommendation

Credit card companies seem convinced that most consumers are spendthrifts who will quickly sink into debt if given the chance. And owning a credit card gives you that chance. Unfortunately, few applicants read the fine print on new credit card offers until they are merrily charging away and their debts mount. Eventually, previously naive consumers figure out that if they are late with even one payment, interest rates on all their cards can skyrocket. Fortunately if you know what to do – pay on time – you don’t have to incur heavier debt. Here, consumer advocate Curtis E. Arnold outlines how you can reward yourself financially with savvy credit card use and how you can protect yourself. He hammers hard on the need to pay up, but the message really matters to your credit rating, particularly until new U.S. credit card regulations go into effect. Arnold explains how knowledgeable consumers can use the card companies’ money for little or no interest, get cash back on their purchases, earn airline miles and even get the companies to contribute to their children’s college funds. And none of it has to cost a dime. Want to learn how? getAbstract recommends this book to anyone who uses credit cards and wants to come out on top.

Summary

Turn Plastic into Gold

Credit cards financially bury people who don’t know how to use them. But if you understand how credit cards work, you can take advantage of great perks, including rebates on purchases, partial mortgage payments, retirement plan contributions, free airline miles, gift certificates and much more. Plus, you can use credit cards to buy the things you want at low interest rates or for no interest at all. If you learn to be smart about plastic, you can benefit financially in numerous ways. You can even use cards to enhance your credit rating, enabling you to get great deals on major purchases, including car loans and mortgages.

Credit card companies operate in an intensely competitive environment. They offer special incentives to compel customers to choose and use their cards. The trick is to take advantage of these deals without paying high interest charges – the pipeline for credit card companies’ profits. U.S. law now requires the credit card offers you get in the mail to include important information, such as annual fees (if any), annual percentage rates, interest calculation methods and so on. Always read this information carefully, including...

About the Author

Curtis E. Arnold is a consumer advocate and the founder of a Web site that provides credit card information to consumers.

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