There’s a lot of negativity surrounding credit cards. If you believe A Current Affairs, they’re s’pose to be the root of all evil … A nasty poison brewed by the nastiest, greediest scums alive … the banks! Hold on though.. yes it is easy to get yourself into a bottomless pit of debt but have you ever heard of a gazzillionaire without a credit card? This is a must have accessory for the rich. So much so that it’s become more of a status symbol. There’s the normal plastics, the GOLD cards, the platinum cards,… and then there’s BLACK AMEX CENTURION. Rumor has it that acceptance into the black amex membership is by invitation only. If you get invited, you need to fork out $2500 in annual fees and spend more than a quarter of a million a year! All that to be in an exclusive club of less than 10,000 in the world.
If you haven’t got an invite yet, ANZ has made the credit card into a fashion accessory with the ‘design my card‘ promotion. My wife’s friend’s friend that works in this department says they review every user submitted image and they’ve rejected a fair few so far. So if you’re thinking of submitting a pic of Jessica Alba, save yourself the time and send in the decent one. :p
As for me, I only have one credit card - a GOLD one of course. I charge everything I can on it (even that maccas lunch meals!). It’s great, at the end of every billing cycle you get to see all your monthly outgoings. It’s like having a personal book keeper and you can even download them to excel! There’s no annual fees for me (I got in early when they were giving it free for accredited engineers) and the rates are high but I always clear the balance before the rates kick in so it’s like free money for 45 days. With ANZ, you can even set it to automatically pay off the full balance from a linked savings account every month - how bout that for hassle-free credit? The best thing of all, that’s free money and free reward points!
So… yes credit cards can be evil when handled by the inexperienced, but you can’t seriously be ridiculously rich if you don’t know how to take advantage of one.
Popularity: 1%
1 comment so far ↓
[…] already raved on about how great Credit Cards are (Credit Cards: Essential Rich Tool #1), now I’m going to tell you how I’ve actually made money from Credit […]
Leave a Comment