WARNING: Before you read this you must read “The Dangers Of Overleveraging“. Keep in mind that this credit card guide was written from the point of view of someone with $0 and 0 credit trying to grow as fast as possible. While I succeeded, it might not work for you. Instead of deleting this post, I decided to keep it up as documentation of what I did to get to where I am. It’s a true story. This is not financial advice. I am not liable for reckless debt accumulation or your business failures. Credit Card Guide Part II coming soon on MKAMZ.
Here are my updated thoughts to keep in mind [9/29/2024]: High interest debt works during a period of rapid inflation which is when I wrote this blog post. You want to make sure you don’t take on interest rates higher than the rate of inflation if you want to make money. In fact, I highly advise you don’t pay interest at all.
Don’t be a retard who refuses to use debt to get rich and buy inventory, but then goes out and uses consumer debt to buy a car you can’t afford to flex on people online. That’s laughable.
Do I still use debt? Every single day.
Do I pay interest? Zero.
Do I still use Amazon Lending? No.
Do I still use personal credit for business purchases? No.
Is everything in this blog post true? Yes.
Do I save money? No, but I stack massive quantities for future opportunities.
Do I max out my cards? No, I only use business charge cards without credit limits now. My utilization is about 3-6% on my personal cards at all times.
Do I care about my credit score? Not really, but my credit is perfect now and I have all the cards I want.
My plan unfolded exactly as I expected, but it might not play out the same way for you.
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This will likely be a highly controversial post because I will teaching you how to utilize debt to get richer.
Most people use debt to get poorer.
Even more people believe debt is terrible and the way to get rich is to get out of debt.
They believe every word Dave Ramsey says, cut up their credit cards, eat canned beans and live far beneath their means.
The same people who believe debt is bad are the people who believe that saving money is good.
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