How to Make Money from Credit Cards

"I avoid friends. I don't take telephone calls. I don't sleep even for a minute. I tell lies. I don't attend meetings..." Rakesh gave me a long list of things that were the direct outcomes of his problem - credit card debts. Sounds familiar?
"I am working in a big company. A few years ago, dozens of banks and finance companies issued credit cards to me without my asking. When I signed up for the cards, I thought 'I will never use these credit cards. Even if I use them I will pay the bills in full every month. However, I will get and hold them for a rainy day.' But, slowly, over time, I got into the habit of using credit cards and now I am in deep trouble. I have exhausted the limit on all cards and monthly payments on all my credit cards are overdue." Rakesh narrated the history of his credit card debt problem.
"Have you thought about how to solve your credit card debt problem?" I asked him.
"That has been my only preoccupation for the past few months," Rakesh said, "I have two ideas. I can run away from this city and become a fugitive. Or I can declare bankruptcy." He was very serious about his ideas.
"Can't you think of something positive? Why don't you come up with an idea or plan to repay your credit card debts in full?" I asked him.
"My monthly salary is Rs.12,000. I pay 70% of my salary to my creditors. I have borrowed from all my friends and relatives. I have not paid even rent for the past three months. I don't know when the house owner will throw me out. It is only a matter of time. I have debts to the extent of Rs.2,00,000. My problem is insoluble," Rakesh said.
"How many litres of water can you pour into one litre bottle?" I asked Rakesh. He looked offended for a moment. But he replied, "The bottle can not contain more than one litre."
"We are like bottles and the issues are like content. Every man has a capacity. He can never get into a problem that is more than his capacity. So, you have the capacity to solve all your problems. You will never get into a problem that is insoluble," I told him.
"Thanks for your positive words. Unfortunately, my creditors will not accept such philosophical explanations. They want only their money back," Rakesh said.


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"The solution to your problem is already built in the problem. I am sure you know, by this time, everything about credit cards," I said.
"Yes, Yes. I know more about credit cards than the creator of the credit card!" Rakesh said.
"Share your knowledge about credit cards with others. Make money in the process. And, repay your credit cards in full," I told Rakesh.
"Is it possible? I am not a professional financial advisor or a practicing accountant. I am willing to work hard and explore all new opportunities. Please explain to me what you have in your mind," Rakesh showed genuine interest in knowing the details of the project.
"Internet exists because of content. People with knowledge created this content. Internet users read the content and gain knowledge. If you have good knowledge that will be useful to others, you can make money with it. Millions of people carry and use credit cards. So, you have a wide audience base. Do you know every third credit card holder has some problem with his card? Create a website, blog, forum, bulletin board, eBook, software, manual, guide or service to help these people. You will make money." I told Rakesh.
"Will people pay me for my work?" Rakesh was doubtful. "You can create a website that helps people find out the right type of card, manage credit cards and get out of debt trap and get sponsorship from a bank. If you have good traffic to your website, banks will pay you good money. Or you can sell your guide or eBook in digital form. There are many ways to make money on internet. You can go for affiliate programs, referral programs, impression revenue or click revenue. You can learn about these methods in an hour or two," I explained to Rakesh about these methods in detail.
I met Rakesh after five months. "I have started to repay my debts," Rakesh said with a smile. "That’s wonderful news. What did you do to solve your insoluble problem?" I asked him.
"In the first month, I visited dozens of websites that have information on credit cards. I learnt what they do and how they make money. In the second month, I learnt how to create website and promote it. In the third month, I learnt to write my thoughts and create content. In the fourth month I prepared business plan and launched my website. This is the fifth month. I have made Rs.8,000. I feel it is going to be a regular income from this month onwards and I am sure the income will go up and up. I have repaid in full the card that had the least balance. I think very soon I will repay all my debts," Rakesh spoke in a cheerful voice.
"I am glad to hear that. I will meet you after a few months to discuss how to invest your savings," I told Rakesh with a smile.