Skip to main content

Credit Card Companies to Lose $100 Billion Over Debit Card Usage







We finally have a victory over the credit card companies and
even though it may only be a small step, it’s going to cost them $100 bill per
year because of the pandemic.

I’m talking about the fact that consumers are using their
debt cards more than credit right now and it’s costing the cc companies a lot
of money – try a whopping $100 bill, as I mentioned.

So while they’ve been cutting our limits and closing out
cards and approving fewer consumers for new accounts like they’re our parents
punishing us for coming home late, we’re slowly pushing back – but in a very
big way!

Debit card volume went up 12%, while cc volume declined by
21% in May – that’s a big hit and it’s because of the fear of being in debt
during the pandemic, according to a visa executive.

This is similar to the 2008 financial crisis, the 2018 gov’t
shutdown and the initial clashes from the trade war with China when the stock
market took a big dip.

This is exactly what I was talking about when I said invest
in yourself, because just as the great Warren Buffett said, you can’t go through
life paying 18% . Most high-apr credit cards are around 29% so fi you can, take
his advice and pay off your cc’s because all you’re doing is putting money in the
banks pockets instead of your own.

So let’s take this victory and continue to push back,
continue to keep our eyes on the  big
stuff – house, car, etc. – instead of worrying about the small crap like credit
cards that don’t really make that big of a difference in our lives and make us
frustrated.

Remember, the biggest revenge is success.

Speaking of which, because of all the recent requests for
coaching, I’ve created video calls for mentoring, advice and digital counseling
and you will find the link on your screen and in the description.

Thanks for watching and if you’re struggling with negative
items on your report, book a call with me for a credit sweep and I will see if
I can help.

Schedule coaching call: superpeer.com/vargasrevolution

Want to hand over the burden to an expert? Get a free consultation at https://live.vcita.com/site/expertcreditsweeps

*I offer this content for free. Buy me a coffee at buymeacoff.ee/vargascoach




Comments

Popular posts from this blog

Tips for my brokers; Craigslist, Facebook, websites, advertising and more!

I work 90% with brokers, 10% with clients, and I actually prefer to work with brokers, as I have contact with only one person instead of 300 clients. So considering there are 528 of you brokers, I figured that I would post some tips and tricks for my brokers. I will break it down into sections to make it easier reading, and if you have any questions, comments or suggestions, let me know! Advertising Advertising can be a serious pain in the butt, and it is utterly necessary for a business like this one. I will give you a couple of suggestions that work for me. I am mostly just word of mouth now and do not need to advertise, as I have thousands of clients, but there are days when I do put my business out there again for new clients. Craigslist It is quite difficult to advertise with CL now, but there are tons of ways to get around being flagged or to prevent it from happening. CL is the 4th most visited site in the  world , so that right there should tell you that you need to

3 Resons why you should wait to apply for new credit

Applying for new credit before all derogatory items are deleted: My advice to my clients is always the same: wait until you're done with your credit repair or credit sweep program, but have a strategy to move forward from there. Here's a few reasons why: #1 you may be denied if you still have 1-2 items remaning and will end up with new inquiries that will drop your score #2 it may hinder the process of removing the last few items and can add 1-3 months to the timeframe #3 you may be approved with a very low limit and would have to wait 3-5 months prior to requesting an increase. In comparison, you can wait til everything has been completed and obtain a higher limit right off the bat. Here's a real-life example: I have a client would only has 4/86 negative items remaining and he wanted to move forward with his mortgage. I advised him to wait because (see #1) it would add inquiries and he may not be approved. He'd mentioned tha

How to Lower Debt to Income Ratio Without Paying a Dime (Mortgage Loan)

If you want to get approved for a higher mortgage loan amount and lower your debt to income ration without paying anything, watch this video! If you would like to get a free credit sweep consultation head to https://my740.com. You can learn how to legally and permanently remove negative items from credit reports with confidence at https://sendmeto.co/steroids. Client results playlist https://www.youtube.com/playlist?list=PLCkW-fTkIGnxOdGjZrudHSn-ygbYuWuQO Violations video 1 https://www.youtube.com/watch?v=fMOe-xaGW-0 Violations video 2 https://www.youtube.com/watch?v=woZS_VI-Pts Links: Credit repair course on steroids: https:/sendmeto.co/steroids Guaranteed Deletion Debt Validation Dispute Method: https://sendmeto.co/vod2 EvolutionLine Method Workshop: link coming soon Dispute Funnel Workshop: link coming soon All courses: https://sendmeto.co/courses Live Automation: https://sendmeto.co/auto Credit Sweep Secrets Playbook: https://sendmeto.co/getmycheatsheet Advanced Credit Sweep Ta