Dave Ramsey would absolutely hate this post but let me explain. DR deals with people with spending problems and not everyone has them. I have a buddy of mine who hasn't carried a balance on a credit card in more than a decade. What's his secret? He pays the balance in full before he's ever billed for it. He never spends money that he doesn't have in the bank. He simply uses the card when convenient and as soon as he get's home he sends the credit card company their money. See, alot of people have good intentions and claim that they pay their bill in full every month but a closer look at their records would prove that they have occaisionally paid a late fee or carry a balance every January from their Christmas debt until their income tax refund arrives. These are the reasons why DR is so against cards. He knows that the average person has things come up and makes mistakes. These mistakes cost you in the long run.
So how does all of this add up to extra income? If you use the method that my buddy does, then you can earn rewards while basically paying cash. Shop around for a card that has no annual fee and has a 30 day billing cycle so that you are certain to not inquire any fees from paying it off each month. If you do this correctly, you can get some free miles, gift cards, gas savings, etc. Do it incorrectly even once a year and you have lost everything you gained. This one is clearly not for everyone.
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