E90 – How To Manage Credit Cards

[2:48] The importance of your credit score

• Everyone wants to know if you have a good credit score
• Credit runs everything when you’re an adult Everyone seems interested in what your number is
• There are ways to fix your credit

[3:59] Why you need a credit card yesterday

• Crucial for everything and gives you the ability to manage your money better
• You need to pay off your credit card in full each month
• It’s very easy to spend “invisible money”
• You want to have as many credit cards for as long as possible
• Don’t close your credit cards even if you’re not using them!
• You want to have lots of accounts open for as long as possible

[5:53] How to manage your credit card

Pay off your balance in full every month- avoid interest!

Everything else will have interest Tons of credit card companies draw you in with good incentives Always keep your accounts open You can use your credit card to finance things, just make such you have a big available balance

[7:46] Credit card gaming/ travel hacking

• You can travel for free if you spend and get points on the right points programs

[9:47] What happens when you’re late

• Always make sure you pay on time! ALWAYS!
• At least make the minimum payment so you’re in a good place with your creditors
• A great way to make sure you pay it is autopay!