"How to generate income out of your Credit Card????"

Thanks Soniasony for your advise. I totally agree with your view that "its only good to achieve financial freedom by clearing all your debts from the credit cards". But since you also hinted that we can make the most of it if we take advantage of the interest free period, which may extend to almost 52 days in my country, I think there is some leverage to be made or exploited here to our advantage, if only we use it wisely. There are actually two kinds of creditcard holder, namely: 1. The Revolver - one who only pays the minimum amount due and always pays on top of it the monthly interest slap by the bank as their profit. This type usually gets into trouble by becoming enslaved to cc debts.; 2. The Transactor - one who always pays his/her transactions in FULL upon due date. This way he avoids making any interest or penalties on his credit card. It's like using the money of the bank for free and without having to make any collateral on that. I think for a start, if you can buy & sell something fast for a profit and you can use your credit card in buying it, then you can definitely use "the bank's money" to your advantage without any cash outlay on your part. And the beauty of it all, without having to pay any interest if you remit your payment on time. You get to have the reward points too from the bank for using their card. If you can do or timed your purchase on the date after your cut-off, you even get to have a longer grace period. That means if you were able to sell your product for cash outright, you get to have the opportunity to roll it again and again in another transaction where you can again make, hopefully, a handsome profit. Just make sure that you pay your due in FULL upon your due date so that you avoid paying any interest and penalties like for late payment fees. Be a Transactor not a Revolver! What do you think? Thanks

Thanks for marking as best response..But you know more about credit cards than I do..Yes rotators are the people the credit card firm actually targets..These are the people are actual customers for the firm..

Thanks for the best response .I agree with rakhi as i work in a financial firm i would suggest the same..

I see... I'm glad to know how you were able to get rid of your credit card debts. You're lucky you were able to get probably a much lower interest bearing loan that you used to shoot down and clear your revolving credit card debts. Well, I think that sometimes it helps on how we become wiser and more financially responsible if we actually experience such situations. The lesson learned on how we handle such difficulty will make us a better person. Thank you Rakhi6c and Soniasony. You two are truly wonderful!