I just got approved for the American Express Gold card!!!! 💳 It has NO LIMIT… Which is dangerous AF lol 😂 But if used wisely, it can help you earn points on money you already spend, so you can fly for free. 💯 Now, I know what you’re thinking: this dude just wrote a book about being debt-free, and he gets a credit card. 🤔 But, here’s the thing, this is not a credit card, it’s a charge card. There’s a difference. Charge cards have to be paid off in-full every 30 days. So it is a great way to maintain your credit, while staying out of debt and has the available option to #stunt!!! 🤑😂😂
A week later, I was so impressed with the concept of being able to fly for free that I ordered our whole company Gold Cards. I was informed that American Express Business cards allow your team to earn points for the business overtime they swipe, just like the personal cards do. And we buy cars. I literally spent $4k that week and knew that our whole team would be doing the same thing over the summer so this decision would change everything! Now, whenever we buy cars, or gas, or do ads, or anything, we get points that we can spend as incentives for the sales team; like tickets to the Future concert, iPads, and Hawks tickets – without coming out of pocket. The AMEX cards will also allow us to rack up points to fly for free to our business destinations.
Here’s why you need to get the American Express Gold Card:
1. Earn Points – Every swipe is a point or more. When you sign up, you get a 50,000 pain bonus. To put this in perspective, you need 62,000 points to fly to Hawaii from Salt Lake City round trip for 5 days.
2. Safer than a debit – If anybody get this card info, you’re not responsible for any charges you didn’t make.
3. Builds credit – The concept of this card is essentially borrowing money for 30 days, and paying it down, so it builds your credit.
4. Keeps you out of debt – since you have to pay the card balance off in full every month, you never end up back in debt.
5. Has a higher spending limit than debit cards – Most banks will limit your spend to $7,000 a day. I buy cars, so that wasn’t enough for me. With American Express, there is no pre-set spending limit, so if you make large purchases for your business, and you don’t have to worry about them declining you or not having enough credit to execute.
Until next time, Q.