#boss!!! Lewis thanks for dropping knowledge! I was raised to think and believe credit cards are bad until you want to buy a house lol! Thanks for spitting fire, extremly motivational!!!
You keep it at a zero balance. Pay it off completely before the due date. No interest is charged then. If you revolve a balance you are charged interest and this would usually negate any value of the points you're using the credit card to accumulate.
I'm currently on Vacation .. I don't have much money so was looking like I was going to be staying home this year for most of my vacation. Instead.. since I have around 10 000 airmiles (from paying for house expenses as I'm a landlord) I was able to go visit a friend in Calgary, and then family in Vancouver. Since that part was free it didn't cost me more than staying at home. And since my friends and family live so close to some epic ski country I've been able to ski i Banff and now Whistler, BC for next to nothing... the only thing I've had to pay for is my ski, lift tickets, all thanks to my credit card life style.
Thoughts on renaming your channel to "What school doesn't teach 101"? :'D Hahaha These videos are just awesome On that note, how about a vlog somewhere along the lines of the most effective methods of learning - whether it's life hacks, physical skills, or academically, I feel like there's room for improvement for most people.
Very nice video. Always inspiring Lewis. Question; when you say that your money sits in interest baring accounts. Don't interest baring accounts use people who trade stocks, bonds, commodity or Forex. My question is why put it in another account when you're an expert Forex Trader?
So you had to spend somewhere between $130,000 and 200,000 to accrue those points that are in your current balance... Either your parents are very wealthy or you work a fantastic job. Also, when you were comparing Economy and Premium, when did you decide that three times as expensive is "a little extra."
+M Smith Oh my... Okay let me pretend you didn't make the rich parents/good job assumption, and instead asked this empowering question: Daaaammmm son! How did you accumulate those points?! I would then say... GREAT QUESTION! $200k spend for 200k points at 1 point per dollar is a reasonable assumption, but what you're missing are all the bonus's. When I fuel up at certain gas stations, when I stay in certain hotels, when I buy all my flights, it's not 1 point per dollar. Sometimes, it's up to 9 points per dollar, on TOP of my AMEX benefits. My parents do okay, they don't give me money. I don't have a job. I own and operate businesses :) I personally consider $1,450 to be a very small amount to exchange for the economy > premium upgrade. This doesn't make it a small amount as a matter of fact. All figures are relative. To a 7 year old earning $5/week in pocket money, 10c may be "a little"... to someone in a regular job, $100 may be "a little"... to me $1,450 is "a little"... to someone like Trump $1,000,000 is "a little"... it's just relative to your level of financial empowerment. Neither person in the above scenario is right/wrong/better/worse. Don't be offended by me saying $1,450 is a little - that's crazy. I would never be offended by Trump saying $1M is a little. If building financial empowerment isn't a value of yours, that's fine! You have your own areas of life that you excel in and are more passionate about. If it inspires you to want to call $1,450 a little, then open your eyes, ears and heart and endeavour to learn and grow! :)
At yo son. Put me up on game on how I can learn this trading game and get some quality coaching in that area and what will be my investment for that. Real talk.
I don't have debt or a credit card. I'm not here to convince anyone about credit but I won't take your advice about the use of one. We know most people won't be responsible with credit even if you manage to. Good luck to you however.
If you have low levels of discipline, definitely don't get one! Though there are millions of people who can use them wisely, many of whom who started from watching this video and who have now taken their first business class trips! The source of low level discipline is not rooted in the task eg. Using a credit card, starting a new diet/lifestyle routine or personal training regime... The task is just where the trait surfaces. Low level discipline is usually rooted in low levels of fulfilment, fuelled by the quest for immediate gratification and pleasure seeking.
+LewisMocker. Thanks Lewis. I guess we just disagree on the fundamental aspect of having a credit card. We could no doubt have a long conversation and still disagree but hey, I respect your right to approach the topic how you see fit. At least nice to see an Aussie take on the subject, I should try one myself! Best of luck.
@@LewisMocker What a condescending thing to say. The entire invention of credit cards is designed by lack of discipline and problems with delayed gratification. To deny that is to deny reality.
There is a good article by JohnnyFD from this month about, how he collected 1 million reward points in 2015 only by having one credit card. For sure worth a read ;)
If you pay off your balances every week, does that mean you can use a higher balance without affecting your credit score? Are balances only applied to your score of they are carried? Newbie to credit here. I know it's probably dif over there.
Your statement balance is what is being reported to the credit agencies (and therefore affect your score). If he/you pay off your card weekly and have a $0 balance reporting on your statement you have 0% utilization reporting for that card. If you have a card with $10,000 of available credit and you spend $10,000 a week ($40,000 a month) and pay it all off before the statement date - you're still going to have a $0 balance reporting.
Bless you Lewis and your beautiful life! Thank you for Infinite Prosperity!
+RazorTNK Thank you !!! :)
Thanks for sharing my dude!
-QUOTE- "Haters don't really hate you. In fact, they hate themselves because you're a reflection of what they wish to be"
#boss!!! Lewis thanks for dropping knowledge! I was raised to think and believe credit cards are bad until you want to buy a house lol! Thanks for spitting fire, extremly motivational!!!
YOUR A BEAST! LOL :) CAN'T BE STOPPED!
Points are huge, my ticket to Tahiti for later this year was covered by cashing in points!
I didn't use mine enough and they cancelled my points :) problem is QANTAS doesn't fly where I live :(
Really amazing video/lesson Lewis! Totally agree, and thanks for even more info😋 #madgenuis
I still reckon you would save more money if you stocked up your freezer with a months worth of food at a time and generally do shit cheaper.
Do you keep your balances below a particular percentage?
You keep it at a zero balance. Pay it off completely before the due date. No interest is charged then. If you revolve a balance you are charged interest and this would usually negate any value of the points you're using the credit card to accumulate.
everyone have credit card from usa chat me i can transfer 10 K usd per day in this credit card USA
Best revenge is MASSIVE SUCCESS ....
I'm currently on Vacation .. I don't have much money so was looking like I was going to be staying home this year for most of my vacation. Instead.. since I have around 10 000 airmiles (from paying for house expenses as I'm a landlord) I was able to go visit a friend in Calgary, and then family in Vancouver. Since that part was free it didn't cost me more than staying at home. And since my friends and family live so close to some epic ski country I've been able to ski i Banff and now Whistler, BC for next to nothing... the only thing I've had to pay for is my ski, lift tickets, all thanks to my credit card life style.
+Jon Speed Haha that's boss Jon. Nice one man!
Really great lesson Lewis! -- Can you imagine if they Actually taught this in schools?!!
Thoughts on renaming your channel to "What school doesn't teach 101"? :'D Hahaha These videos are just awesome
On that note, how about a vlog somewhere along the lines of the most effective methods of learning - whether it's life hacks, physical skills, or academically, I feel like there's room for improvement for most people.
I always fly economy. I can be uncomfortable for 5-10 hours. I would rather spend the 3-4k elsewhere.
This video is brilliant.. Very good information. thanks Lewis.
“CLEVER” Lifestyle _
Very nice video. Always inspiring Lewis. Question; when you say that your money sits in interest baring accounts. Don't interest baring accounts use people who trade stocks, bonds, commodity or Forex. My question is why put it in another account when you're an expert Forex Trader?
everyone have credit card from usa chat me i can transfer 10 K usd per day in this credit card USA
So you had to spend somewhere between $130,000 and 200,000 to accrue those points that are in your current balance... Either your parents are very wealthy or you work a fantastic job.
Also, when you were comparing Economy and Premium, when did you decide that three times as expensive is "a little extra."
+M Smith Oh my... Okay let me pretend you didn't make the rich parents/good job assumption, and instead asked this empowering question: Daaaammmm son! How did you accumulate those points?!
I would then say... GREAT QUESTION!
$200k spend for 200k points at 1 point per dollar is a reasonable assumption, but what you're missing are all the bonus's. When I fuel up at certain gas stations, when I stay in certain hotels, when I buy all my flights, it's not 1 point per dollar. Sometimes, it's up to 9 points per dollar, on TOP of my AMEX benefits.
My parents do okay, they don't give me money. I don't have a job. I own and operate businesses :)
I personally consider $1,450 to be a very small amount to exchange for the economy > premium upgrade. This doesn't make it a small amount as a matter of fact. All figures are relative. To a 7 year old earning $5/week in pocket money, 10c may be "a little"... to someone in a regular job, $100 may be "a little"... to me $1,450 is "a little"... to someone like Trump $1,000,000 is "a little"... it's just relative to your level of financial empowerment. Neither person in the above scenario is right/wrong/better/worse. Don't be offended by me saying $1,450 is a little - that's crazy. I would never be offended by Trump saying $1M is a little. If building financial empowerment isn't a value of yours, that's fine! You have your own areas of life that you excel in and are more passionate about. If it inspires you to want to call $1,450 a little, then open your eyes, ears and heart and endeavour to learn and grow! :)
At yo son. Put me up on game on how I can learn this trading game and get some quality coaching in that area and what will be my investment for that. Real talk.
Oh my, the man of value. Now I have to check all of your videos again, just because your comments add up even more value, value, value.
I don't have debt or a credit card. I'm not here to convince anyone about credit but I won't take your advice about the use of one. We know most people won't be responsible with credit even if you manage to. Good luck to you however.
If you have low levels of discipline, definitely don't get one! Though there are millions of people who can use them wisely, many of whom who started from watching this video and who have now taken their first business class trips! The source of low level discipline is not rooted in the task eg. Using a credit card, starting a new diet/lifestyle routine or personal training regime... The task is just where the trait surfaces. Low level discipline is usually rooted in low levels of fulfilment, fuelled by the quest for immediate gratification and pleasure seeking.
+LewisMocker. Thanks Lewis. I guess we just disagree on the fundamental aspect of having a credit card. We could no doubt have a long conversation and still disagree but hey, I respect your right to approach the topic how you see fit. At least nice to see an Aussie take on the subject, I should try one myself! Best of luck.
scarymovier
@@LewisMocker What a condescending thing to say. The entire invention of credit cards is designed by lack of discipline and problems with delayed gratification. To deny that is to deny reality.
@@mirandataylor6385 Cool story. I'm not talking about the reason they were invented, I'm talking about how to exploit them to your advantage.
I completely agree with this!! I've used my CC for years and reap the rewards much like you do. Theyre a no brainer IMO.
Great video Lewis. Points programs are not what they used to be. Does your card have a monthly cap?
Thank You for sharing the info about points and traveling.. How did you find a bank with interest barring accounts, not to many banks do that..
Another fantastic video, keep it up Lewis! I would love to see more videos like these with smart tips alongside your vlogs.
whats the point of collecting point's using credit cards when you pay way more for the things you buy?
Lewis - yet another beast of a video... Keep these coming!
Great video, I'm gunna do the numbers.
awesome!! I will go get a credit card tomorrow
Economy next to the toilet... Been there before!
There is a good article by JohnnyFD from this month about, how he collected 1 million reward points in 2015 only by having one credit card. For sure worth a read ;)
Correct me: overall, not 2015 ^^
Just Amazing
Love it Lewis.
+Joseph Colfs Thanks Joseph!
If you pay off your balances every week, does that mean you can use a higher balance without affecting your credit score? Are balances only applied to your score of they are carried?
Newbie to credit here. I know it's probably dif over there.
Your statement balance is what is being reported to the credit agencies (and therefore affect your score). If he/you pay off your card weekly and have a $0 balance reporting on your statement you have 0% utilization reporting for that card.
If you have a card with $10,000 of available credit and you spend $10,000 a week ($40,000 a month) and pay it all off before the statement date - you're still going to have a $0 balance reporting.
Ke B Thanks, I have since figured it out :)
Awesome
Ballerrrrrrrr haha I love this video
+Paul Hobus Haha thanks Paul!!
everyone have credit card from usa chat me i can transfer 10 K usd per day in this credit card USA