How to Use Credit Cards Wisely

by MOINSBD

There are so many credit cards out there: regular credit cards, rewards credit cards, cash back cards, travel cards, premium travel cards, and the list goes on. But to really reap the benefits of these rewards, you have to learn how to credit cards wisely and effectively. Otherwise, credit card rewards can wind up costing you a lot of money. There are some credit card tips and tricks, but it all boils down to one simple habit: pay credit card balances in full every single month.

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14 comments

A22DNAL August 8, 2021 - 3:08 AM

I "love" how this video is NOT speaking to the subprime credit card borrower.

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Joel August 8, 2021 - 5:01 AM

Yep, there’s only one right way of using a credit card: do all your purchases with it and pay it off when your statement arrives.

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Mr_4point6 August 8, 2021 - 5:59 AM

You did an amazing job..kept it simple and straight to the point…

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Mr-Alex Knight August 9, 2021 - 5:42 PM

I have 5 credit cards and use them everything. I REFUSE to get a card with an annual fee. I don't carry cash. And I pay them ALL off WEEKLY. My credit utilization is 2% Doing this my Fico went from 540 to 761. I was pretty bad with debt when I was younger.

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Edcel Jann M. Corre August 10, 2021 - 5:33 AM

Keep extreme track of your expenses on your credit card regularly, never let it out of your sight and never let anyone else use it, never swipe what you really can't afford, and always make sure that you have funds that's 2x than that of your statement.

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muckymucks August 11, 2021 - 5:16 PM

Only spend money you have and pay in full.

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China Consulting & Travel Blog August 22, 2021 - 10:54 AM

Absolutely don't need a credit card. Fool's use them.

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Jitendra Yadav August 22, 2021 - 8:07 PM

plan your major spends right after the bill is generated, so you get maximum benefit of interest free days. of course, this is true only if you pay your bills in full and do not carry a balance.

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Fab🎃 August 23, 2021 - 5:21 PM

3:46 Pro-tip if you go over your the 30% but still under your spending limit: Try to pay your credit card balance as soon as it is posted (or as much as you can). You’ll usually have a week or so to pay your outstanding balance when it is posted, but carrying that balance could result in a hit to your credit score even if it is prior to the due date.

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Nate August 24, 2021 - 11:28 PM

Td is tripping

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Rui-9-CS August 25, 2021 - 7:01 PM

credit cards are scams, the interest rate is just too high.

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Kevin A August 25, 2021 - 9:34 PM

if im starting off whats a good credit limit?

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Rudra Chatterjee August 30, 2021 - 9:18 PM

Lol. 17%? Come to India. Here we pay 48% yearly. Sureshot way of going into debt trap

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Ki September 10, 2021 - 8:52 AM

Wait, so if I spent $100 through 1 month, can I pay before the due date? And if I do, will I reap the same benefits? Will the bank tell me when the due date is? If the due date is, say 1st October, will I be charged interest if I pay a day late? Sorry I’m new to this.

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