Is This Credit Card Thing Legit?

May 1st, 2020

Credit cards have a bad rap. Stories of people running up unmanageable debt dominate the media. If that describes you -- please read no further. BUT… If you have good self control and are financially responsible -- and you want to leverage your monthly spending into FREE travel -- the rest of this article is written just for you.

Credit cards are an incredible tool for ordinary people who practice a bit of financial savvy. In fact, we would say that if you are NOT opening at least two credit cards per year, you’re being fiscally irresponsible. That might seem like a strong statement, but let’s break it down together:

If we were to say to you, “I have this simple job... it’ll take only 8-10 hours a year... even fun to do. You can do it from the comfort of your own home, whenever you have time, and we’ll pay you $5,000 every year -- tax free.”

You might be thinking:

“It’ll take more than 10 hours” or,

“I don’t even know where to start.” or,

“$5,000?!...what cards are offering those kinds of dollars?”

Good questions

And that’s exactly why we built the Points Navigator. So let’s start with some common questions/objections:

• Won’t this hurt my credit?
  • No. The people we coach in this hobby have better credit, not worse, over time. Find out why »
    
    
• Won’t I end up "giving back" the bonus in annual fees and interest?
  • You do have to pay off your cards every month for this to work. But provided you do, there is no interest. Some cards have annual fees, but in essence you’re paying $95 to get $700 in bonus points. Hard to pass up that profit. We also have great strategies on avoiding future annual fees without hurting your relationship with the bank… oh, and we’ll email the details of these strategies to you 45 days before your annual fee is due. That way, you don't wind up paying an annual fee unless there's a good reason.
    
    
• Won’t the credit card companies eventually cancel my cards and/or refuse to give me new ones?
  • Not if you’re honest and follow our guidelines. The banks have some written and unwritten rules, of which you need to be mindful. And, yes, you can do things to make banks unhappy with you (though you have to try pretty hard). But Points Navigator is built specifically to help make sure you follow the rules -- without having to do the research. Keeping you in standing with the banks is built into every step of our coaching process.
    
    
• How can the companies support this? It sounds like a pyramid scheme?
  • Banks, airlines, and hotels have run the numbers. They’re still making money on card users. How? Most “award flights” and “hotel stays” would have been unused inventory. The true cost to them is relatively small -- smaller than the advertising cost they used to pay to get new customers. On the flip side, they get 2% of every purchase you make with the card. They have a loyal customer for other purchases and future services.
    
    
• But aren’t all the good dates and flights blacked out?
  • Not typically. Today's systems are much more flexible and have more options than the blackout dates of yesteryear. That means nearly any travel purchase is bookable with points.
    
    
• Do I spend enough to earn the bonuses?
  • If you make enough money to qualify for the card, you probably have the spend. Did you know you can pay mortgages, rent, car payments and utility bills via credit card? You may have to pay a small fee, but a $50 fee to make $700 is a solid return on investment. Get more ideas for spending »