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     Debt is the cost of money.  So, debt is the cost of money means somewhere in it, you are going to be paid interest.  So, when you’re paid interest, 10, 12, 15, percent, it’s a happy day.  When you’re paying interest on credit cards, because you’re not spending and using right, it’s a really bad day.   Some of you, because you just don’t know, you’re spending 15, 18, 21, 28, I’ve seen as high as 31 percent on credit cards, if you don’t use them right.

     So, who makes the money?  The banks.  The credit card companies, which are supported by banks, so why would ever pay that kind of money?  You can’t even make that money on an investment, much less pay it that way.

     People’s concept of debt and credit cards drives me crazy.  Because wealthy people, who use debt and credit cards as an asset, as a tool.  In fact, I just started teaching it that way.  If you want a debt program, we’re going to put it in the asset column, because it is an asset used right.  Why even deal with debt management reconciliation?  Don’t get yourself there.

     So, what’s the best interest rates to keep on credit cards?  Zero, and we’ll help you get there.  From the minute you apply will determine how much you’re going to get, and what the lines of credit are you’re going to get.

     How do you apply?  I’ll tell you the biggest mistake in application is, you don’t declare your income.  You fill out the application from the place that your psychology, or your bank account, which is you don’t have a lot of money.  So, you’re going to work with us, and we’re going to project a year income.  I have a guaranteed system to make you a hundred grand, that’s $8,333 a month.

     What you’re going to say in your application is, that your business is going to make a hundred thousand dollars in the next year.  You can’t lie.  You have to have a total intent to do this, and get moving and make the money, but you can apply that way.  You’ve got to put in income, and it’s the biggest mistake I see people make, is they’ll say, “Well, I make four thousand dollars a month.”  They’re not going to give you much.  They might give you 400, 500, as a line of credit on that card.

     So, your application has to be honest.  But it can be projected income.  If you have really good credit, you can do it fast.  So, it depends.  It depends on you.  It depends on your credit, depends on which company, your company’s history.  If you’re really new, it could take you up to two weeks, three weeks.  I’ve known people to take 30 days.

     It should be on the outset of 30 days, and again, you should apply, and your company should apply.  I’m a huge fan of American Express Discover.  Go back to your bank, wherever you bank, they’re typically going to give you a credit card.  So, start there.  If you’re in the trades, or you have some business where you need supplies at certain stores, apply for those.

     I would rather see you consolidate to cards that have great rewards, and award points.  So, you can accumulate all in one place.

     Parents, teens, you got to do this right.  You do it right from the beginning, you are going to be so healthy financially. 

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