The Basics
Credit card companies make hundreds of billions of dollars a year off of interest from people. Just let that amount of money soak in! The companies try to incentive people like you and me to sign up for credit cards by flaunting attracive sign on bonuses, juicy cash back rates and mouth watering perks for holding a card, and in return the credit card card companies are hoping, praying and even begging for you to fill up your balance and not pay it off every month, thus slowly draining you of money by you paying interest on the amount you allow to roll over every month. AND the best part for them??? All those amazing bonues, rates and rewards they give out are nothing in comparison to the interest they claw back from those who don't pay each month in full.
So how can we make that work in our favor?
What if we signed up for these credit cards (with the attracive sign on bonuses, juicy cash back rates and mouth watering perks), but paid it off every month? Well, you would be in the roughly 50% group of people who reap these small rewards that that credit card compaines are baiting people with, but without falling victim! Unless you fall into one of the of these catergories to not use credit cards to amass rewards points, the statergery is quite simple.
1. Research and apply for a good credit card that has a good sign up bonus.
2. Spend your normal amount of spending on that credit card to earn the bonus.
3. Once you achieve that bonues, go back to step 1 and restart the process.
It is really that easy?
Well yes and no. If your just interested in getting a card or two, there isn't much you to worry about. Just head on over to the Recommended Cards page to get started! But if your looking to continually keep stacking new credit cards to keep amassing points to keep fueling yearly vacations (like I do!), then feel free to drop by the Expert Level page to learn the additional statergeries and methods!