Credit Cards

Credit cards get a bad reputation. I am not saying that there are no predatory practices in the credit card industry, but there are ways to utilize credit cards so that they benefit you and not the company you hold an account with. 

If used correctly credit cards can have the following benefits:

  • If you have a high balance on a credit card 0% balance transfers often can save a ton of interest. 

  • Credit card companies usually value their customers because without you spending, they make no money, and while you will know how to correctly use a credit card, the company will not know that which means you have some leverage to request 0% balance transfers, fee reimbursement, etc. 

  • If used correctly, credit cards can help raise your credit score

  • Cash back rewards

  • Travel rewards

  • Points for gift cards

  • Shopping discounts and more

In my 3 Phases to Financial Freedom Self Paced Course, I have outlined how to properly use a credit card. I even help you adjust your credit card usage as a previous debt holder to someone using the card as a tool. (Use code Summersale until 9/22/2022 at 11:59:59 pm EST for 20% off)

Although I wanted to provide one crucial tip here. Credit card usage can be a slippery slope if you are not prepared to use it correctly. Do not go and sign up for any old card. Do your research and find a card that truly meets your needs. For me, it’s cash back and travel rewards. I have a friend who ONLY has the Starbucks credit card because Starbucks is her one vice she will NEVER give up so she milks the card for every free star she can get! 

Here are my favorite cards, with referral codes if they have one available. 

I have the Delta American Express which I use for my flights whenever I travel. 

If I do not use my AMEX, then I use my Southwest Chase Credit Card. In my experience, both these cards have a reasonable points system. 

According to Nerd Wallet some of the best credit card options are Capital One Venture Rewards, Wells Fargo Active Cash® Card, Chase Freedom Unlimited®, and Discover it® Balance Transfer. 

Whether you apply for them or not, make sure their benefits meet your needs. 

Allison Grotteland