The credit card industry is a lucrative industry (providing about 3x the return of commercial banking), and is powering close to $2 trillion per year. And while things like cryptocurrency may become competitors in the coming years, we're likely a ways off from crypto transactions replacing credit cards.
So if this is such a big industry, how do you make money with credit cards?
Obviously you could get a job with a credit card company and take a salary, or you could invest in a credit card company and earn from dividends. But I'm talking about how the average person can realistically earn from credit cards.
One option I've seen over the years is selling merchant services to businesses and taking a small piece of all their credit card transactions. I'm not an expert in this, but it's one option to consider.
The easy option for the average person is to earn from consumer spending rather than business earning. They're two sides of the same coin, but if you don't want to have to convince businesses to switch their credit card merchant services, you don't have to. You just need to introduce people to a new Visa credit card and you can forever after earn from their purchases on that card.
Better yet, if they do the same, and their referrals do the same, you can earn from the spending of more and more people.
There's no catch here. You see how many expensive ads credit card companies run on TV and in other media. It's expensive to get consumers using their cards. But one company is taking this new approach, investing in their users who share their card rather than advertising. It'll actually be a huge win for them, as they'd struggle to compete with the entrenched cards.
Users of the card get at least 1% cash back, but they also compete with all others users for up to 5% cash back (on ALL their purchases) each month. Gamification makes this interesting.
The company itself says it's "designed from the ground up to engage the new consumer culture through social gamification, the 'gig' economy and mobile lifestyle. As a company, we seek to leverage this understanding and our industry experience to create a new paradigm in credit card issuing and rewards."
The word "rewards" is key, as Business Insider research shows that this drives card usage even more than cash back (the second primary driver). And at the time of this writing, less than half the 75 million "Millennials and Gen Zs" have a credit card. There is a massive opportunity here.
Best of all, for those reading this in 2021, the company is only expected to launch this year, meaning a ground floor opportunity to really build passive income based on something people already do: use credit cards.
Until they launch, you literally just plug in your email address to show your interest and start asking others to share their email address as well. You can start earning some early (non-financial) rewards by doing so, and also start seeing how your potential monthly earnings advance.
The site is professional and built on gamification. The company already has a partner bank that will power the financials. And they have already raised half a million dollars to fund their launch this year. So it's the real deal, and you can get on board by just entering your email address here:
I'm an author and professional writer / marketer with an interest in gathering teams of those who want to learn, grow progressive businesses, have fun, and make a difference.