Property Investment Articles

Credit Card with Points – Cool or Not?

Hi there Salena Kulkarni here from Phoenix Wealth group, and in today’s short video, I just want to talk just very briefly about the credit cards that offer frequent flyer points and the dangers of using them.

So I’ve been talking with a number of clients, and preparing some strategies for them over the last couple of weeks and the conversation has touched on a number of times the idea of credit cards and the frequent flyer points that attach to them and why they’re so appealing to people, one of the things that I would say is that you do need to be very mindful of the fact that when you think about the number of dollars that you need to spend in order to generate a $200 airfare it’s quite significant, now if you need a credit card for business or work purposes anyway, and the frequent flyer points are really just a bonus then by all means, also if you are really strong with your financial discipline and you don’t perceive there to be much risk in terms of repayment and so forth then again maybe those sorts of frequent flyer
points are just a bonus, for the majority of people though, the reality is that the temptation around using credit cards and the ease of credit cards makes it a very dangerous kind of tool.

Now debt, like anything else, can either be the most powerful tool or a complete noose around your neck and I have many clients who initially come to me who earn significant family household incomes and struggle between pays and survive on credit cards and the reason, is they’ve got themselves into a cycle of relying on their credit card and they find it hard to break what I would encourage you to do, is think twice before taking on a credit card purely because it’s going to give you frequent flyer points and really make decisions around using debt dependent on how disciplined you are with your money management.

If you would like any support whatsoever in maybe even understanding how to simplify and boom bring some ease into your money management then please get in touch with me at the link below and look forward to connecting with you in the future.

P.S. – Whenever you’re ready, here are 4 ways I can help you create more money, more time and more freedom through your property investing:

1. Grab a free copy of my Report

It’s the roadmap to getting off on the right foot as a property investor and to give you the best chance of amplifying your wealth – click here.

2. Join my free online workshop

It covers new insights into property investing that you may not have considered before. Learn about how professional investors are leaving the majority of investors behind and why – click here

3. Join my upcoming Implementation Program

I am pulling together a new coaching case study group at Phoenix next month….stay tuned for details. If you’d like to work with me on amplifying your property investing results and you’d like to build your own personalised property investment strategy….just reply to this message and put “case study” in the subject line.

4. Work with me and my team privately

If you’d like to work directly with me and my team to take you to a seven figure net asset base….just reply to this message and put “private” in the subject line….tell me a little about yourself and what you’d like to work on together and I’ll get back to you.

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