In this day and age, cash is slowly being edged out by the purchasing power of the credit card. And that is not surprising at all. After all, credit cards are easy to carry and use. Moreover, they are accepted all over the world. Add to this some of the other advantages that credit card providers offer. The incentives available on rewards credit cards are among them.
Rewards credit cards are the new kids on the credit card block and people can't seem to get enough. These cards offer multiple benefits to their users. The benefits serve as incentives for increased credit card use. Ever wondered what these incentives are? There are perks such as reward points, payment at ease, and zero percent balance transfers.
The best thing is that many credit cards offer these benefits either free of charge or at nominal rates. The credit card holder stands to gain from most of these plans. Thus, even if the rewards and incentives are charged, the card holder might not be grudging the levies.
There are people who hold multiple credit cards, and use different ones from time to time depending on the balances available on each of them. However, if there is one card that they have used to the limit and it is time to make the payment, they might want to transfer the balance to another credit card. One should go in for this because it gives the card holder some time clear off the credit card debt.
Depending on one's current financial situation one could choose to go in for a zero percent balance transfer card. Such a card allows the credit card holder to pay off the debts due on one card by starting another trail of credit. This proves to be very useful for people who have overlooked the payment date and for those who have other bills to pay off.
Many people switch cards because the credit card currently in use charged a high APR. Study your credit card bill. You will notice that interest is charged on the accumulated credit card debt. Thus, if you were to make a part payment, the interest would accumulate on the remaining amount. This would once again have to be paid off in the next billing cycle and would become a major burden on the credit card holder.
The process of transferring the balance to another credit card may be done in a few ways. All that one needs to do is fill out an application for a new credit card. Once this card is issued, one merely needs to transfer the balance to the new card. However, one should not get too carried away with this strategy and make too many new applications.
One should bear in mind the fact that the credit rating of the applicant will be checked and verified each time. If credit card companies find that the applicant is frequently transferring balances to other cards, they may not approve the applicant for further cards till he clears some payments.
Hop Skip Diaper Bags
I've mentored a quite a few already-successful entrepreneurs over the years. To folks holding jobs inside businesses, these business owners appear to be a breed apart. I say 'appear' because you may think all entrepreneurs fall into a single unique category and can be considered 'successful' for making that choice. You'd be wrong and there's a lesson in how to create your High Payoff results by understanding what distinguishes them.
You've heard me say that I'm all about getting my clients what they want (usually it's to achieve their Vision further, faster and easier). One key group of entrepreneurs says to me "Linda, there has to be a better way. Show me what action to take and I'll do it." We keep their focus on a repeating cycle: Intention - Plan - Action. They attend to those steps systematically, repeatedly. Those are entrepreneurs who are 'Movers.'
But that's not the only kind of entrepreneur in business. There's also the person who creates their own business so that no one else will ever tell them what to do, or how to do it. While they put a flag in the ground, and declare "This is mine!" they don't necessarily set goals, or spend any time putting a plan in place that will guide them towards those goals. So they're constantly busy trying to get it all done and won't hear of handing any of it off. Those are entrepreneurs who are 'Doers.'
You might think these are the only versions of entrepreneur to model if you're considering creating a business of your own, you might believe that the only way to create exceptional success is by following the path of a Mover. But that's not the full story. And to understand what it takes to create High Payoff results, you need to know of the third type of entrepreneur as well.
There are also 'Hyper-Achievers' out there. You'll recognize them (if they stop moving long enough for you to spot them). They have more than one business endeavor on their plate at the same time, and six more in their hopper. They have more happening in one day than many of us take on in a given week, or month, let alone year.
So, now you're wondering if I'm walking you through all of this because I want you to walk the hyper-achiever path. But the truth is that focusing on these three labels misses the true keys to creating valuable business results. Each of these versions of business leader might be succeeding enormously or failing spectacularly in their businesses.
Every day, you're surrounded by entrepreneurs who are attorneys, manufacturers, retailers, executives. What makes them each an entrepreneur is that they wake each day with a singular attitude. They take a look at the world around them and declare "I know what I want to create, and I'll take steps today to make that happen!" And then, just like the rest of us, they lead either effective or ineffective days.
For each of them, the roots of their success or failure lie in the actions that follow that declaration.
Remember the Movers? They started with a Vision they want to create in the world. That underpins their decisions. They marshal all their resources to create that result, and then set a game plan that will make it happen. Some of them, however, become absorbed in each detail, worried that it will all collapse if they take their hands off of any of it.
And the Doers? Many of them slip into becoming an employee of a new boss - their own company. They're working long hard hours and their key motivation is doing it themselves, rather than building toward a specific goal. As a result, they wake every day with even more responsibilities than they held onto before.
And the Hyper-Achievers? Some of them set up the structures and processes and delegate the doing so it actually gets done. Others tread a dangerous line between building one fabulous idea after another, and chasing bright shiny inviting opportunities no one else yet sees. You might spot them launching new initiatives one after the other and bringing few of them to completion. Each of these entrepreneurs increased their risk and severely jeopardized their returns.
The 'Already-Successful' achievers I've worked with come from all three styles of entrepreneur. You can learn and use the fundamental High Payoff techniques that set them apart from those who fail. What distinguishes these achievers is that they keep a clear focus to their attention, get rid of their distractions over and over, daily, and keep their attention on the activities that actually are aligned with getting them to their Vision.
Both Ajeet Khurana & Linda Feinholz are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Linda Feinholz has sinced written about articles on various topics from Education Toys, Small Business and Your Online Business. Management expert, consultant, and coach Linda Feinholz is "Your High payoff Catalyst." Linda publishes the free weekly newsletter to subscribers w. Linda Feinholz's top article generates over 14800 views. to your Favourites.
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