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Credit Cards & Crypto | Did I Sell Out?

Source: Lor3m_1p5um PAB

Just wanted to give a little update on my progress with destroying debt and what my mission is with crypto and personal finance. I know this won't resonate with a lot of crypto or bitcoin maximalists, but it might resonate with others. The rich pipo will probably not care, but be a little bit amused at it. But for me, progress is progress, and I'm just having fun experimenting with different things. Opening new credit cards each year at 0% interest rate for 18 months is something I've been doing for quite a while; and it has been helping me pay down debt while increasing my credit score (not that it matters).

The new one I applied for and got instantly approved for was Capital One's Savor card. This is a cash back rewards card with 3% for groceries 2% for dining and 1% for everything else. I opened this after I paid down my Citi Bank credit card fully right before it was due for APR. The curious thing was shortly afterwards, Citi Bank tried to get me to do more business with them by offering an extension of 0% on balance transfers and/or 0.99% interest rate thereafter until November of 2020. In a decreasing rate environment, and with shaky market climates due to China vs USA (and more), I think the banks are shooketh and want to lock in some long-term clientele.

The weird thing about my strategy for paying down debt, while opening new credit cards every year, and increasing my credit score at the same time; is that I've been doing this for 3 years now without fail. Of course when I first started out, there were some credit cards I was immediately declined for, but I stayed the course and eventually found other credit card companies I was approved for (at 0% interest rate for 15-18 months mind you). It's been slowly reinforcing my strategy for debt paydowns and personal finance because it's almost like net-30 or even 360 credit terms in business. I'm leveraging debt, but still being conservative about it, and increasing everything else at the same time. I'm increasing my knowledge, credit score, business, crypto bags, stock bags, debt management, and furthermost my strategy. I'll talk about it in another post or VLOG.

Now a lot of you crypto folks are going to unfollow me due to this post. Some of you are maximalists, while others are just capitalists, and others are already just rich people who don't even care. I want to talk about why I'm in crypto and what my goals for crypto are.

I'm in it for tech, money, spending, and camaraderie (ironically being the black sheep). When I first got into crypto in the summer (May) of 2016, I was naively in it due to the tech and how I felt like it was going to be the future of currency in the years to come. Later after the bitcoin boom and bust of 2017, I started getting jaded while seeing a lot of my peers exiting the space in frustration or getting filthy rich and retiring from the space altogether. Unfortunately for me, I sold too soon, and I had a lot of situations in my life that caused me to miss out on the ride. I wasn't ready period. I didn't have the skills. Later on, I was in it for the money. I was hodling it despite the second brief run up with ZCASH going to all time highs of $700 only to see my bag crashing down to $350 and $150 precipitously. I was still naive and I didn't have the principle to stay disciplined with my strategy. Later on, I learned how to spend crypto on things I currently use now. You can find what I use when I go deep on that topic at Dividend Hack. Check out @DividendHack in the meantime on Twitter.

2016 all the way to now in 2019 have been formative years in developing my risk tolerance, forging empathy with my peers in silky situations, and increasing my discipline with strategy. It's created a lot of the strategies, products, and substances I'm using to this day; and I'm still backpacking and compounding growths on. I'm that black sheep on Twitter - misunderstood, reviled, martyred, and trampled on; but I'll always stay true to what works in my life. I'm always down for hacking life and going above my circumstances. The evergreen underdog.

(PSSS) The link for Capital One credit card is a shill by the way.

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