Brad HartI help 7-8 figure entrepreneurs scale faster with AI, masterminds, and results-driven systems | Founder of Optimus & Repurposefully

Why A Credit Card Is So Important #makemoremarbles #financialfreedom #creditcard #wealthmindset

Name: Why A Credit Card Is So Important #makemoremarbles #financialfreedom #creditcard #wealthmindset
Uploaded: 2022-12-22T04:10:18+00:00
Duration: 39 s
Channel: Brad Hart
Description: Brad Hart explains how credit cards generate rewards like travel points and cash back when you pay them off responsibly. Card companies actually make…

22 Dec 2022 · 1 min

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Brad Hart explains how credit cards generate rewards like travel points and cash back when you pay them off responsibly. Card companies actually make money from merchant fees, not from the rewards they give you.

Chapters

And that'll be $315. Put it on my card, please. Hey, brother, if you're short on cash, I got this. I'm good, dude. I like to use my credit card like the rich do. What do you mean? Well, the rich put everything on credit cards like this one. Credit cards give them travel points and cash back just for spending money that they're already spending. Then the smart ones pay it off every month. So not only does it not cost them extra, they make money on their spending. Then how do banks make money if you're giving all this free stuff away and not paying any interest? So banks don't actually make money unless you pay interest. The credit card companies make money on the fees they charge the businesses you're buying from and use that to give you the rewards. Dang. Thanks, Brad. I'm going to definitely follow you to learn more about money.