Credit Cards

What are smart ways to deal with credit cards? What are not so smart ways?

3 thoughts on “Credit Cards”

  1. Mike Finley says:

    Smart ways: (1) Pay it off in full each and every month. If you can’t do that, don’t use it. (2) Use a rebate card that pays you back each year with cash or other benefits you prefer like travel miles. (3) Read up on the other benefits (purchase protection, price protection, return protection, extending the warranties, car insurance, etc.), and use them when applicable.

    Not so smart ways: (1) Make a payment that does not cover the full amount. This eliminates your grace period and you are stuck paying high interest that will compound in some very bad ways over time. (2) Think of your credit card like it is a bank to borrow from whenever you like. People go bankrupt thinking like this. (3) Hang out with other people who misuse their credit cards. The wrong people and the wrong kind of thinking in the wrong environment can devastate you and your future plans. Be smart!

  2. Mike Finley says:

    Smart ways: (1) Pay it off in full each and every month come hell or high water. If you can’t do that, don’t use it. (2) Use a rebate card that pays you back each year with cash or other benefits you prefer like travel miles. (3) Read up on the other benefits (purchase protection, price protection, return protection, extending the warranties, car insurance, etc.), and use them when applicable. Basically, understand the good that comes with credit cards while avoiding the bad.

    Not so smart ways: (1) Make a payment that does not cover the full amount. This eliminates your grace period and you are stuck paying high interest that will compound in some very bad ways over time. (2) Think of your credit card like it is a bank to borrow from whenever you like. People go bankrupt thinking like this. (3) Hang out with other people who misuse their credit cards. The wrong people and the wrong kind of thinking in the wrong environment can devastate you and your future plans. Be smart!

  3. Mike Finley says:

    Smart ways: (1) Pay the balance off in full each and every month come hell or high water. If you can’t do that, don’t use it. (2) Use a rebate card that pays you back each year with cash or other benefits you prefer like travel miles. (3) Read up on the other benefits (purchase protection, price protection, return protection, extending the warranties, car insurance, etc.), and use them when applicable. Basically, understand the good that comes with credit cards while avoiding the bad.

    Not so smart ways: (1) Make a payment that does not cover the full amount. This eliminates your grace period and you are stuck paying high interest that will compound in some very bad ways over time. (2) Think of your credit card like it is a bank to borrow from whenever you like. People go bankrupt thinking like this. (3) Hang out with other people who misuse their credit cards. The wrong people and the wrong kind of thinking in the wrong environment can devastate you and your future plans. Be smart!

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