7 Credit Card Rules to Live By
In this Video:
In a perfect world, none of us would use credit cards. We would only use cash or debit cards to pay for things, and we wouldn't spend more than we can afford. While this is definitely an option, using credit cards is a necessity for many people. On this episode, I'm going to cover seven credit card rules to live by so you can utilize them responsibly and to their full potential.
Things to Consider:
Accumulated credit card debt is one of the largest threats to your future financial situation. Unfortunately, a lot of people do not learn this lesson until it’s too late. Credit card debt is considered bad debt because the high interest rates associated. The average credit card interest rate in the United States is 23.55% in 2023. To contast, a mortgage is considered good debt because the interest rate is low, typically around 4%. Therefore, if you lack proper credit card education then I would recommend that you use this video as your opportunity to learn everything you need to know.
Key Points in This Episode:
0:00: Intro
1:07: Pay Off Credit Regularly
2:48: Automate Your Monthly Payments
3:46: Get Card Fees Waived
4:52: Negotiate a Lower APR
6:38: Keep Primary Credit Cards Open
8:40: Increase Your Limit
11:47: Take Advantage of Credit Card Secret Benefits