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The Millionaire Dropout: Fire Your Boss. Do What You Love. Reclaim Your Life! by Vince Stanzione

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Credit Cards, Cash Back, and Points

Whenever you use your credit card, the merchant is charged a fee—of which the issuing card company gets a percentage.

For example, Marks & Spencer have a credit card. If you use it to buy a plane ticket, the airline pays a fee. M&S gets a percentage of the fee.

It follows that customers should get a little of the fee, too. In the case of M&S, you'll receive points when you spend, which can be redeemed in store for food or other goods.

This card has no annual fee and offers 55 days of interest-free credit (although cash advances are not interest free). So overall, not a bad card. If you're going to make the purchase anyway, you may as well get something back.

American Express has a Blue Cash Everyday card, which has no annual fee and offers cash back per spend. This card is available in the United States and UK.

Tip: Amex offers a business version of its Blue Cash card. This card includes cash back and extra interest-free days to pay.

Some cards also earn air miles. Personally, I prefer to get cash back and vouchers.

Which card you apply for depends on your credit status, but if you're in the United States see http://www.creditcards.com, as they have a selection of the best offers. In the UK, try http://www.comparethemarket.com, which offers a good selection of credit card deals.

Need a Credit Card but Have Poor Credit?

To survive these days, you need a credit card. However, if you have bad credit, previous debts, or no established credit ...

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