字幕列表 影片播放 列印英文字幕 you're wasting money if you're not paying off your credit card every single month. Credit card, credit card, credit card. Now, do you have a credit card you're using right now? Or do you have multiple credit cards or you're one of my younger fan? And you are thinking of getting one comment below today I want to share with you three credit cards secrets that the banks don't want you to know. I'm gonna take you behind the scenes a little bit and share with you how banks actually make billions of dollars from credit cards and how the model works. Now, what does that have to do with you when you arm yourself with this knowledge first? Or you could protect yourself and so also give you some ideas of how the industry works. Also, in this video, I'm going to give you a couple strategies that you can implement today to save yourself some money. Are you excited? Common below. Here we go. Credit cards. Secret number one. Your interest rate could jump at any time. You have to understand how massive the credit card industry is. How many credit cards are out there when you go to the mall, You see, Why are companies so eager to give you free gifts and free stuff for you, too? Hey, man, just just sign up a credit card. Why did they do that? Because they make so much profits from it. When people find out how much money banks actually make from credit cards, usually the off shocked. So you see advertisements where they sing a low interest rate. No problem. Sign up. Right. And you say Okay, great. Low interest rate, right, Lois? Interest. What you would get right now, the average interest rate on your credit card, it's around 17%. 17%. Think about it. Right. And then they were advertised and seo, low interest rate. And when you sign up the cart when you don't know is the critical companies the banks they have toe right to adjust meaning increase your interest rate at any time at any time. And usually they would give you, like, say, a 15 day or 30 day notice. And you get a package in the mail which usually never read with a letter like this, and, like mumbo jumbo legal stuff and say, Oh, now before 17% now it's 18% of 19% now. If you have credit card debts, meaning you're not paying off the credit card every single month before you know it. Now you have the power of compound interest working negatively working against the rich, get rich and stay rich. What do they really invested? Discover North America's best kept investment secrets. See Dan La Live one time only February 23rd and 24. Seating is limited. Get your tickets now. Secrets of the rich event dot com Click the link in the description. This is why people making minimum payment people who want credit card debt. It's very difficult for them to pay that off, because now it just keeps accumulating, accumulating So that Secret number one critic, a secret number two banks and credit card companies. They make a lot of money from you just using the court, even though you pay off your balance every single month. So what I mean by that? So as a merchant, it's a seller's a business owner. When someone comes into my business and someone swiped their card, the critical company actually charges the business owner a fee. We call that an interchange fee for the convenience for providing the machine so that customers compay conveniently and they charge could be anywhere from 2 to 3%. So let's say you go in there and you make a purchase for $1000. The banks actually charge the merchant that Mrs Owner to say 3% on average, 3% of the money, meaning they make $30 for doing nothing for doing nothing, simply by providing the convenience that people could use it. This is why sometimes you go into places to go into restaurants and they say, Hey, you know what? We'll give you some free appetizer or a free concert or something, because if you don't use your credit card, they save a few points. So they make money both ways from you if you don't pay off your credit card accumulating interest, but also from every transaction that's taking place from all the merchants or around the world, that adds up very, very quickly. Can you see that this is why they encourage you to use their credit cards as much as possible to give you points that give you all kinds of free stuff, right? They want you to get a new car. It is in their best interest for you to use the credit cards as much as possible in many places as possible. Now credit card itself. It's not bad. It builds up. The credit is convenient. I love my credit cards. Nothing wrong with it, just as long as you're paying off your balance. Carefree single one. Do not listen to me. Do not accumulate credit card gets It is a very, very dangerous, slippery slope. Critical Secret number three Because safe money right now with one simple phone call. Now you realize how much money their credit card companies make from you and from the merchants. Don't be afraid. Don't be afraid of credit card companies. You could make a phone call right now and the number of things that you could do you could call them right now and say, You know what? I'm thinking off cutting up my credit card. I'm thinking of switching company. Ask them to see if they can lower your interest rate. You will be surprised what they would do just by you asking. Making a simple phone call. Most of you don't do it. Ask them Can you lower the annual fee? Some cases. Can they wave the annual fee, right? If their charges that are fraud, what could they do? Well, other free stuff they could give. You simply need to ask. You could also call them to adjust your credit limit. If you want to build up your credit faster, right, you can also do that. Or you can also ask them to adjust your payment. Your due date that fits your schedule. You don't know that, do you? You could absolutely do that. You are a customer. You are spending money with them, asked him. Make a simple phone call. You could also ask him in case if you miss a payment your couple days late, what are some of things that they could do that wouldn't ruin your credit rating? At the credit bureau, there's so many things you could do. All you need to do is pick up the phone and ask. It's a simple is that credit card is a very, very powerful tool. It makes so many things buying, purchasing so convenient when you're buying online. But don't let Critica controls you. You become a master off the credit card and stepping a slave to the credit card company. That's my biggest takeaway for you today. So are you going to call the credit card company today and come back and common below and let me know how it works for you? Always takes? It's a simple phone call that they lower your interest rate today. Maybe convert your car, tow a no annual fee card. Do they adjust your credit limit? What did they do for you? Let me know. I want to know.