I'm A Credit Card Deadbeat: You Can Be One Too!

I am delighted to say that I am a credit card deadbeat! In fact, some of you might already be credit card deadbeats too, if so, I commend you for your excellent work! Now, as for those who dont know what a credit card deadbeat is, before you start thinking I have a screw loose, you may want to continue reading! When I say that I am a credit card deadbeat, I dont mean that I avoid my credit card bills. To the contrary, a credit card deadbeat is the insider term used by credit card company executives and refers to all of the credit card users who pay off their bill each month promptly; in doing so, such customers pay no interest and prevent the creditor from making any profit! Thats me! I love being a credit card deadbeat! The alternative to being a credit card deadbeat is what credit card executives call a revolver. A revolver is a credit card user that constantly carries a balance and is charged regular, monthly interest on their charges. Credit card companies love revolvers because they, in essence, increase the bottom line for the credit card company and make them a nice profit. Further, from an insider perspective, the best customers not only carry a balance, but also make their payments late, triggering extra fees and a higher interest rate. Okay, so I've been a credit card deadbeat for awhile now, but last year I went even further in improved my deadbeat ways. Not only did I hang onto my hard earned cash by refusing to line the wallets of the credit card companies, but I also happily lined my own wallet with their money, to the tune of $,. Yes, thats right, they paid me $, to use their cards; continue reading to find out how! Cash Back Credit Card First, I applied online for a Cash Back Credit Card and I was instantly approved. My new cash back credit card arrived to my house the following week ready for me to use. This card offered me % APR for months and carried no annual fee; With it, I made all of my gas purchases, as well as grocery and drugstore purchases and earned % back cash back on the gas purchases and % back on all other purchases. I have a family of four and the gas purchases included gas for my spouses car as well. My average monthly purchases and cash back earnings were as follows: Monthly Gas Purchases $ x . = $. Monthly Grocery Bill $, x . =$. Monthly Drugstore Purchases $ x . = . Total Cash Back Earnings From Credit Card $ . x = $. Airline Rewards Credit Card I also applied for an airline rewards credit card and again was instantly approved online. Like the cash back credit card, my new airline rewards credit card arrived the following week, came with a % introductory APR for months and had no annual fee. This credit card earns frequent flyer mile for every $ charged. I charged many of my miscellaneous expenses, including major purchases and business expenses, on my new Airline Rewards Credit Card. As a result, the qualified expenses came to an average of $, monthly or $, for the year, earning , frequent flyer miles, more than enough for an airline ticket to Hawaii: a $ value! % Introductory APR for Months Now heres the kicker. Since both credit cards came with a % introductory APR for months, I paid only the minimum payments on each card and placed the money for my purchases into a savings account earning .% (rates have gone up since). Using averages for simplicity, I made monthly deposits of $, into a savings account earning .% interest compounded monthly. By the end of the year, I earned $ in interest! My Total Credit Card Earnings for the Year So here is my total earnings from the cash back credit card, airline rewards card, and interest earned. Cash Back x . = $ Free Airline Ticket $ Savings Account Interest $ Total Earned $, Just to make sure I maintain my deadbeat ways, now that the % introductory rate has expired, Ive paid off my balance from the money I deposited into my savings account during the year. To be a credit card deadbeat you need persistence, determination, and discipline. I did it, and so can you! Copyright © Stephanie Andrews