Credit Cards UK Explained - How to Make Money off Credit Cards

I go through benefits of credit cards and the three different types: Purchase credit card, Money transfer credit cards and Balance transfer credit cards and how I make profits using the banks money.

A balance transfer is when you get a new card that repays debts on other credit or store cards for you, so you owe it instead but at 0%. This means you'll be debt-free quicker as repayments will go towards clearing the actual debt, not interest.

A few specialist cards offer a 0% money transfer that lets you pay cash into your bank for a small fee. You then owe the card instead but interest-free, which is usually much cheaper than loans for amounts under £3,000.

Great Investing & Trading books:

Timestamps:
00:10 Credit Explained
01:09 Consumer Credit Act
02:00 Purchase Credit Cards
02:23 Balance Transfer Credit Card
02:37 Money Transfer Credit card
03:18 Profit Calculations
05:32 Things to be wary of!

[LVJANISLV]

Investment a bit like gambling... Never borrow money to invest money in the stock market. So dangerous..

[rajkotecha]

‪Very risky borrowing money to invest, a lot of people will not understand not to borrow more than they can afford‬.

[yveshinett]

What do you think of taking out 10k in order to buy ethereum at the dip and other growing stocks that also pay good dividends (4/5% plus)?

[samwalters]

Dude I love your videos but this is a very dangerous strategy to be promoting.

Unless people are astute, smart, stock market enthusiasts such as yourself, using credit cards to make money in stocks is a TERRIBLE idea, especially in something as volatile as crypto. People could potentially get into debt and ruin their credit rating if they pick the wrong plays or don't manage their stocks properly.

Not your best idea putting this out there imo

[vascularlab]

Great video Mosh, is there a limit to the number of transfer back cards you can get at once?

[Exercisewithleah]

What about the company “Think Money Credit” ?

[BarrettGamingHD]

Hi Mosh, first time viewer! Thanks for the content.

Are there any money transfer credit card companies that you would recommend?

[alexd]

did you have to pay tax on that profit you made from buying/selling BTC?

[marton]

Another problem is, generally money transfers are bad for your credit score.

[samuelevans]

So use of credit cards to buy risky stock shares and crypto 😅😅 good idea🤨

[jordanbrough]

Worse video ive seen of yours Mosh, would you have posted a video if your investment had tanked, bitcoin is very volatile ...your gamble paid off this time. I like you man but not this video..

[problemslayer]

People, do not under any circumstances utilise a credit card for the purchase of crypto. This IS financial advice