The Upside-Down of Credit Card Usage

There are around 3.5 crore credit card holders in India, mostly using a credit card just like you and I do, for offers, rewards and regular spending. But we all have that one friend, who has a totally different outlook on life. If you ask them, if a glass is half full or half empty, they’d gulp the water down their throat giving a spin to the answer, “both are opportunities.”

Here are three real-life scenarios of how people use a credit card very differently than what we normal people do.

Welcome to the upside-down.

1. The Short Term Trader - When we see red, they see green

While we are still choosing where to invest our money, this chap is using his credit card to earn more. They are opportunists. *They use their credit card to make all their purchases for the whole month, be it their rent payment, fees or any other spending so that their bank balance is always untouched.

Then, when the Sensex drops - we see red but they see green! They have their entire bank balance at their disposal to invest short-term and earn probably more than what we’d expect even in a year. And they continue doing this day on day for a month, making the most out of the interest-free credit period of their credit card.

Some even end up making twice their credit card bill amount for the month! And needless to say, paying back their full amount in time is no big deal for them.

*This stunt has been performed in the presence of professionals, do not attempt unless under the supervision of an expert

2. The Merchant - Building an empire, brick by brick

This budding businessman finds unique ways to make his gig profitable and make more money. While we wait for opportunities to knock at our doors, the merchant is constantly running behind opportunities to make the most out of it.

They have a simple funda - as soon as the new billing cycle begins, *go out on a shopping spree. Search for online and offline offers and buy cheap stuff in bulk and brand it. All this in a span of a few days. The next step? List the items on your website or your store at MRP or a profitable margin. Now they are left with liquid cash in their bank account and a credit-free period before they clear their credit card dues.

By the time they have to pay their bills, all their stuff is sold out. They make profits not only by selling but by also earning interest on their savings bank account and rewards on their credit card spending.

Yet again, paying back the full amount in time is a piece of cake for them

*This stunt has been performed in the presence of professionals, do not attempt unless under the supervision of an expert

3. Referral King - Do you have a passive income?

Do you pay your credit card bills via your bank account? Well, not the referral king. His purchases are paid off by the reward points he earns.

We think they have made it a habit, a good one, to get people their own OneCard. It’s always good to invite people to experience the good things in life, right? And what’s better when you get to earn amazing rewards on it as well!

The referral king creates youtube videos, shares the benefits of OneCard on WhatsApp and telegram groups, and grabs every opportunity to share their exclusive invite link. These people have built a reputation for referring good products in the past, so people listen to their suggestions, install the OneCard app using their link and activate their OneCard.

A referral king earns instant bonus reward points for every referral from OneCard, which are then redeemed during bill payment or against a transaction in the OneCard app. Hence, passive income.

So, do you think you fall in any of the categories? Or have you found a totally unique way are missing out on!

If you still haven’t got your OneCard Click Here