Credit Cards-Working in your Favor

My co-worker CJ has a really great head on his shoulders regarding how to use credit cards to help you, not hurt you. So for this post I'd like to highlight some words he wrote about this subject. Check it out!

CJ and me with credit card
Credit Cards-Working in Your Favor

By CJ Tanner

I think most people my age don't have credit cards because my generation is taught that credit cards can only be a bad influence by giving people money the don't have. Even Dave Ramsey says that plastics are bad you should use cash for everything. Of course, that can be true if you max out every credit card you can get your hands on, but if it is used correctly it can only benefit you. Just about every credit card has reward points or flyer miles or cash back, so if used the right way, you can actually make money.

For example, I set the limit on my credit card to the amount I can spend each month, so I know I can never spend money I don't have and I pay the monthly balance off so I am never charged interest or late fees. This allows me to rack up flyer miles with no extra charge. It also allows me to build up my credit score at a young age.

The best credit cards are the ones that have no monthly or yearly fees, provide some sort of reward or cash back points and have the Spokane Federal Credit Union logo on them. :)

In my opinion, the best way to use a credit card is to set the limit at what you can afford to pay off at the end of the month and never raise it unless your monthly pay goes up. I've had my credit card for four or five years and I have enough miles to fly round trip anywhere in the US for free and I have never been charged any interest.

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