I went to my letter box today to collect the mail and I had a rather unique advertising flyer card from ANZ bank:
Talk about a personalised promotion! They must have produced a unique poster for every customer and with a name like mine they won’t be able to replicate it for other customers like possibly for “Dan” or “Lucy”. I was quite impressed, at least from the point of view of someone interested in advertising and marketing. It certainly made me take notice.
The flyer is advertising a frequent flyer points credit card. I’m not a good customer for credit card companies because I never stay in debt long enough to pay interest. I use my VISA for everything to accumulate points but I pay it off within the interest free days. It sort of feels like free money for me but does nothing for my credit rating. Consequently I have had problems increasing my credit limit.
I just finished Michael Simmon’s book, The Student Success Manifesto (review coming soon!) where I read a story about an entrepreneur that managed to fund his start-up mostly using credit card “loans”. He made purchases on a card and then used another card to pay for the balance. He managed to “juggle” his debt until his cashflow could cover it and in the process established a great credit rating.
I’m not sure I’d recommend that method to raise funds, but if you like to live dangerously and you are confident in your business (what entrepreneur isn’t, foolish optimists that we are) then hey, why not!
Which leads me to a reminder, no pun intended…
For the Brisbane based entrepreneurs the next YNOT (Young Network of Entrepreneurs) meeting is on this coming Tuesday. See the YNOT site for details. I’ll be there so come say hello if you attend. Just look for the guy with the big curly-boofy hair.
