Credit is a mystery to a lot of people. Generally people know they have a credit score, they need to pay their accounts every month or they get a ton of phone calls, and that credit card companies are an evil force that only exist to enslave the proletariat.
All those things might be true, but there's so much more to know! That pamphlet you get with every credit card offer holds a ton of information that you can use, but it's a bit dense. It mostly contains information about when you need to pay the company and how much you'll be charged if you sign up.
That's boring, right? You want to know how to get free money and great credit. That's what that clickbait title I wrote told you you'd get. Well, we're here to help. Follow the rules, and you can't lose.
1. Don't Buy What You Can't Afford
This one seems obvious, but I need to include it, as it has to be rule number 1. Now is not the time to fake it until you make it. You should spend with a credit card as if you were using cash. You'll never get that free money I was talking about if you end up using it all paying for interest.
2. Check Your Credit Score Regularly
This used to be a huge ordeal, but has become trivial with tools like Credit Karma (and soon Witsi.co), and many cards include this as a free service with your account. It's important for a lot of reasons that we'll get into in another post. In our case, it's important for rule 3.
3. Get Rewards Cards That Work For You
What card you need to get depends on your personal situation, and can be answered by two questions: What card will you qualify for with your credit score and history, and what do you tend to spend money on? Once you get your credit score, check out places like CreditCards.com for information on what cards would best fit your spending, or sign up for Witsi.co for free, and we'll do all that for you!
4. Use A Credit Card For Every Purchase
You won't get those rewards if you don't use the cards. The rewards are free money! Rack them up! Paying with a credit card offers other benefits as well over using your bank account. We can get into these later.
5. Pay Off Your Balance at The End Of Every Month
This is the last step, but probably the most important. There will be people in your life, probably an uncle or family friend, that will tell you that credit cards will ruin your life, and you should never use them. I can tell you, with 100% certainty, that credit cards were not their root problem.
If you're following rules 1 and 5, you will never have an issue with your credit. Your score will grow, more opportunities for rewards will be presented, and then you will be able to make more free money, get free flights, an collect other perks.
Thanks for reading! We'll get into other credit secrets, including how to carry a balance for almost free, and what cards you need to have in your repitoir in future editions!
While you're here, check out Witsi.co! It's a free tool we built to help you manage your credit card rewards, and make sure you're using the right cards for the right purchases.
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