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Cream of the Crop 20 (Terry Blount) (1996).iso
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ECKW_I07.FIL
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1995-08-01
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The New Philosophy of Credit
My goal in this section on credit is to show you a winning
philosophy for using your credit. The average person uses
their credit to increase their buying power. Then they buy all
kinds of goods and services.(some are "needs", most are "wants")
The problem with this is that they always end up being deep in
debt after they're done.
Y'see, a major credit card is considered the same as cash.
You can go to any bank or ATM machine and get a cash advance of
hundreds and even thousands of dollars. You don't have to beg,
work, or even fill out any forms for this money. It's cash and
it's quick!
Now, with all this in mind, what if I told you that a
credit card is a great tool for raising short term investment
capitol? Sounds kind of crazy, does'nt it? Well, you've got to
think about it like this; "I'm going to be charged interest for
using this money from my credit card, I might as well be
multiplying the original money into more money and make a profit
from it!", right? The profit we're talking about here would be
anything higher than the interest you would pay on the money
anvanced on the credit card. The kind of investing I'm going to
tell you about will always earn many times the amount you would
pay.
We're not talking big stock market moves here, but small,
little profit investments that make you money. For example:
You come across an excellent deal on a car, motorcycle, boat,
etc... for say $500, and you know the item is worth $1500
minimum. Most of us have passed on these deals because we
did'nt have the extra cash at the time to buy. But, with this
new philosophy in mind we have another chance to make money in
our day to day lives.
There are several ways to use a cash advance for investing
in small profit ventures and I will go into them further in the
Credit Income section of this program. Mainly I want to get
across the idea that credit cards should be used for investing
only. Avoid using them for your standard purchases. You should
now start collecting as many credit cards as you can for this
purpose and this program can help you do that and more.