Credit cards can be a powerful tool if used correctly, but ONLY if you use them responsibly.
Using credit cards responsibly can help build your credit score, earn you cash back, and get you other rewards options. Unfortunately, the majority of people aren't paying their credit cards off every month, and it costs them hundreds, sometimes thousands, of dollars per year. Just like compounding interest will grow your army of dollar bills over time, compounding debt will destroy it. Currently, the average American with credit card debt owes $5,315. You can imagine how that debt will slowly become harder to overcome.
We want you as a Financial Mutant to avoid the trap of credit card debt entirely. Our rule of thumb: If you use a credit card, you HAVE to pay them off every month.
These videos will teach you how to use credit cards responsibly.
How Wealthy People Use Credit Cards Differently Than You! (Highlight - 5:16)
Should You Avoid Credit Cards Altogether? (Highlight - 4:25)
Credit Card Use vs. Credit Card Debt: There is a BIG Difference (Highlight - 6:11)