How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line

by Curtis E. Arnold

Who would not be interested in getting an interest-free loan for 12 months for any type of purchase just for taking a few minutes to complete a credit card balance transfer offer? Or a free round-trip airline ticket twice a year just for making purchases on a rebate card? Or lowering their insurance premiums by hundreds of dollars a year just by raising their credit score? Obviously, just about every consumer is interested in saving money and getting freebies! Hence, the universal appeal of this book cannot be overstated. Today, the average American household has 12.7 credit cards. Banks maximize their profits by "nickel and dimeing" and outsmarting their cardholders: that's why credit cards are their most profitable product. Banks spend billions enticing consumers with rebates, freebies, low-introductory rate offers, and airline miles. Learn how to take full advantage of these offers, without paying for them through brutally high interest rates, fees, and penalties! Arnold offers specific advice targeted to young consumers who are being aggressively targeted by credit card marketers; retirees facing credit discrimination; Americans recovering from bankruptcy or other debt problems; and even consumers with great credit. You'll learn the techniques he has personally used to escape credit card debt, "creatively finance" his wedding, car, and home purchases, and earn thousands in credit card "perks" every year.

Genres: Finance

352 pages, Paperback

First published May 16, 2008

Reviews

[Dave · Rating 3 out of 5]

While I'm not necessarily new to the world of credit there's still much I want to learn about raising my score. And how not to let credit use become deleterious to my financial life.

No doubt that that information is here but I was expecting the entire book to be only about which card's one should choose depending on how they want to profit from them.
Instead of naming any specific card's (makes sense since I'm sure this information is ever changing) the author suggests you visit his website where other members of the forum rate the various one's out there so you can make a mindful decision before signing up.

When I ordered this book all I really saw was "How You Can Profit From Credit Cards" and not so much the "using credit to improve your financial life and bottom line".
Guess I was expecting this to be different from some of the other's I've read in the past which are complete overviews of the ins & outs of credit.

And even though there's really solid info in here to help keep you safe I felt that a similar one I've read this year
Your Score: An Insider's Secrets to Understanding, Controlling, and Protecting Your Credit Score by Anthony Davenport to be a bit less of a dry read.

Overall very usefull and informative but probably not the best one to start with if this isn't a subject you find entertaining in and of itself.

[E · Rating 5 out of 5]

An expert report on how to profit from credit cards

Credit card companies seem convinced that most consumers are spendthrifts who will quickly sink into debt if given the chance. And owning a credit card gives you that chance. Unfortunately, few applicants read the fine print on new credit card offers until they are merrily charging away and their debts mount. Eventually, previously naive consumers figure out that if they are late with even one payment, interest rates on all their cards can skyrocket. Fortunately if you know what to do – pay on time – you don’t have to incur heavier debt. Here, consumer advocate Curtis E. Arnold outlines how you can reward yourself financially with savvy credit card use and how you can protect yourself. He hammers hard on the need to pay up, but the message really matters to your credit rating, particularly until new U.S. credit card regulations go into effect. Arnold explains how knowledgeable consumers can use the card companies’ money for little or no interest, get cash back on their purchases, earn airline miles and even get the companies to contribute to their children’s college funds. And none of it has to cost a dime. Want to learn how? getAbstract recommends this book to anyone who uses credit cards and wants to come out on top.

To learn more about this book, check out the following link: http://www.getabstract.com/summary/11...

[Linus Thomas · Rating 4 out of 5]

If you've ever wanted to learn how to deal with credit cards and maximize the use of them, this is the way. It also has a few chapters on how to deal with the debt that some get into. The author recovered from having a $45K credit card debt and provides realistic avenues for addressing it. The only downside to the book seems to be the constant self-promotion of the author's website.

[Shannon · Rating 4 out of 5]

As someone who never pays attention to the fine print on anything, it was useful to discover it is worthwhile when dealing with credit cards. I had no idea credit cards could act as insurance on stolen items, broken items, rental car, etc. Not the most exciting stuff but I definitely have a better understanding of what I should expect out of my credit card and how to maximize the benefits.

[Il · Rating 4 out of 5]

Not particularly new information for me -- but great for anyone unfamiliar with credit cards. As long as you pay off your credit cards -- in full, each month -- they are great. I get 2% cash back on 100% of my purchases with my Schwab Visa Invest First.

[Molina · Rating 5 out of 5]

Wordy boring yet informative.

[Ryan Edwards · Rating 3 out of 5]

The writer repeats himself again and again.
Its mostly dealing with Credit Card Debts then actual profiting from it.
A good read especially if starting to built personal finances.