Credit Cards make an average of 104 billion dollars per year from fees and also interest, so what if there was a way to turn around and make money from them.

3 ways to make money with a credit card

Basic idea: is to do the complete opposite of what credit companies want you to do, and instead of being exploited you become the person taking advantage of the system.

1. Invest
- You have to take the money out and the only way to do it is by doing manufactured spending.
Ways: Buy gift cards and load those on to prepaid gift cards
- Buy gold
- Or just send money to your friends using Venmo or PayPal for a 2.9% fee on PayPal or 3% fee on Venmo

If your tight for cash, I recommend doing this:
- Get a credit card with an interest-free promotional period ( at least 12 months )
- Get a cash advance for 5%
- It's expensive but it’ll be like a small loan and that you’ll get 12 months

Ideas for investing:
a. Side Hustles
b. Course or any education

Why? I don’t want you to quit your day job, that’s how you're going to pay the debt back if anything goes wrong.

Example: I did ones to buy some cellphones and then flip them, and by the time I paid it back, I had made almost 2-3x the money. ( way more than 5%)

2. Sign up Bonus/ Rewards = most people use this to have fun but you could invest it and create more income

Example: I use acorns for investing, and if you wanted to, you invest that bonus and have it grow at an average of 7% per year plus a 2.35% dividends.

3. Credit Card Arbitrage – it’s the idea of taking money from credit and parking it somewhere else and making the minimum payment and then keeping the difference.
Step 1: Find a credit card or low- interest cash advance or balance transfer card offer. ( discover gives you 1-year free interest, and the Citi Simplicity card gives you 21 months interest-free on a balance transfer)

Step 2: Select and offer and write yourself a check and then either invest it or deposit it into high yield savings or a CD. ( right now, it's hard to get more than 2% on savings, but who knows what might happen in the future)

Step 3: Make the minimum paying and set them on auto-pay that way you avoid the risk of late payments

Step 4: One month before the offer is over, just pay it off in full.

The goal if you can get 5-7% per every one thousand, then we could be looking at $50-70 bucks in profits.
Example: $10,000 at 5% is $1,292.14

Warning:
- This could lower your credit score temporally
- If done incorrectly it's going to cost you a lot of interest

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