Skip to main content

How does using debit cards instead of credit cards affect the lenders?


I see a win for consumers floating in the air, coming towards us like far-off clouds. I read an article today about how the credit card companies are losing money because consumers are using more of their own money instead of their credit cards. This means that they are using their debit  cards and cash instead of making the credit card companies money. I think it was something like $100 billion or some crazy amount like that. But the point behind this is because the credit card companies only make money (outside of annual fees and whatnot), money on interest if you don't pay in full each month. So, if you're paying in full each month, they don't make money. If you're not using your credit cards, the lenders do not make money. Why am I saying that this is a win for us? Because they're been taking from us and closing our cards and cutting out limits and making it more difficult to get approved. They've been taking it all away from us like they think they're our parents and grounding our ability to move forward with our credit. The beautiful thing about this is that I've been saying that all of these thing were going to happen way before they did. I said it was going to get bad and that they would change the laws and they did. You think that the coronavirus changed everything? NO! They've been waiting for an excuse to do this to us and to cut the lifelines away like they don't know we've been hanging from this cliff and our grip is slipping. So yes, this is a win. Yes, this is a major victory!


Popular posts from this blog

1000s of collections removed with this FREE VOD letter!

I'm giving you the 1st of a 4-letter collection removal campaign that's removed thousands of collections in the past 12 months for FREE! You'll find the link to the letter in the video. Believe me, if you're even 1/2 as successful as my other clients, you'll be very, very impressed. For those of you who need some help, I provide a free consultation to take over your file and do the dirty work for you. For those of you DIY-ers, I provide 3 new DIY packages on the new services page of the website. You may also request a 1-hour session to go over your file and get my advice and an action plan @ $85 p/h. Just schedule an appt on the website. Check it all out at

Is a credit sweep the same thing as claiming identity theft?

Is a credit sweep the same thing as claiming identity theft? No, it's not. Most consumers have the wrong idea about what a credit sweep is and believe the 2 are the same but I'm here to clear this up for you! Identity theft: This is where you claim that all (or a few) items are resulting from identity theft and you attempt to get them blocked using section 605B of the FCRA within 4 business days. You must use an official police report and affidavit. Here's the DL on this: it doesn't work. Why? Because millions of consumers used this illegally even thought the debts actually belonged to them and now, even if you ARE a victim, it's almost impossible to get it done in 4 business days. A few months? Sure, if you have all the required documentation, dispute with the creditors as well and have supporting documentation. IF this method is used (either by the consumer or a credit repair company - with or without the consumer's knowledge), the items w

Credit Repair Dispute Reason Cheat Sheet

Use this Dispute Progression chart (cheat sheet) to craft your dispute reasons when writing your dispute letter for credit repair purposes. Buy for only $15 at or directly at Stop using TEMPLATES! Start thinking logically and create your disputes based on "factual" information. This means that you take the info on the credit report and base your disputes on it. This covers ALL negative item types and falls into 6 categories: Collections Charge-offs Late Payments Inquiries Identity Theft Bankruptcies Judgements/tax liens *all negative items fall into these categories, including foreclosures, student loans, repossessions, etc. i.e. charge-off with 3 different dates listed under "date of last activity" dispute reason: remove this account immediately due to the fact that you're reporting 3 different dates under "date of last activity" and this is inaccurate This PDF