Do you have an annual credit card fee? Pay 50 cents to use your card at the corner store? What about those interest charges you pay on your credit card every month?
Congratulations! You just funded someone ELSE’S vacation. Well, sort of.
Those fees you pay go back to your bank – and that’s how they’re able to offer “free trips and hotel stays” – to someone ELSE. Want it to be YOU going on these trips? You absolutely can – just follow these tips.
You can completely avoid paying interest – just pay your card off BEFORE the statement date! Also, NEVER get cash advances on your credit card, because you’ll be charged interest PLUS a fee.
Interested in earning perks and cash? Get a rewards card! But be careful.
Rewards cards can be a great asset – but are useless if you carry a balance. Pay your bills and earn perks, like travel, as well as cash to transfer into your checking account – but ALWAYS pay off the balance!
And at the corner store? Pay cash.
Finally, if there is a credit card you don’t use anymore, cut it up instead of closing it! Closed credit cards don’t look good on credit reports.
Building credit with a credit card is a crucial way to bridge the wealth gap – but you’ve gotta be careful!