Why do people fear credit cards?
I read another article this week on credit cards and why they are so bad for us and all the other negative spins you could think of when it comes to credit.
While the author of this article brings up valid points and is a professional writer for the Globe and Mail, I very much disagree with her view of credit. She also has her own blog, squawkfox.com and is a “personal finance and consumer expert.”
I am OK with all of that – just not her view on credit.
Basically the article goes on about how people mess up credit and are terrible with money.
I am also OK with all of that – perhaps you are one of them?
She concludes with “let the offers come in – I’ll never be drawn in”
Fine. This may be true for many of you – it certainly is true for some of my co-workers!
BUT…WHAT IF YOU ARE GOOD WITH MONEY???
Yes. I know it seems impossible after everything you hear and read about, but WHAT IF YOU ARE GOOD WITH MONEY???
That means…WHAT IF…
1. You can pay all your credit cards bills on time without paying any interest?
2. You put any big ticket purchases on low interest loans or lines of credit?
3. Paying credit card fees and interest has NEVER been an issue for you?
4. You are sick of getting nothing in return for being with a certain credit card issuer for years?
This is a skill people. Not everyone can do it, but maybe you can.
Perhaps you “just know” when to pay off your cards and don’t need email or monthly statement reminders.
Perhaps you keep a spreadsheet and like to be very organized with your expenses.
Perhaps you pay them off online immediately like me.
Perhaps you wait for the statements and pay them off on time.
Whatever way works for you, you should not be “fearing credit cards” at all.
In fact…you should be TAKING ADVANTAGE OF CREDIT CARDS.
Yep, I said it and I stand by it.
The offers out there right now are extremely generous and for many cards there are no annual fees first year.
I have been following the Canadian “credit card game” for 4 years now and I can tell you 2 things with certainty.
1. I have had thousands of dollars of free flights and hotel rooms since I started through multiple credit card issuers.
2. My credit score is HIGHER than it was when this started.
I know those 2 facts are hard to believe but they are true.
Thing is…those 4 WHAT If’s above are all true for me. When number 4 kicked in I started to do something about it.
We devote one page to “how to get started” with the process – read it if you are interested in getting the perks you deserve.
Think of it as a hobby. That lets you travel free!