How To Use Credit Cards Correctly To Create Wealth

How To Use Credit Cards Correctly To Create Wealth
How To Use Credit Cards Correctly To Create Wealth

Introduction Of How To Use Credit Cards Correctly To Create Wealth

How To Use Credit Cards Correctly To Create Wealth. When they think of credit cards they think of debts in paying installments in paying interest in banking costs and anyway many people especially in Latin America where even the rate of use of credit cards is much lower than the rest of the world because the truth is that they try to avoid this type of thing.

My Strategy For Using Credit Cards

When they think of obtaining some kind of loan because they do not have the money to pay for something they want or need because they go to this type of payment method and it turns out that this is the best way to use such an excellent resource. I am going to tell you about my strategy for using credit cards that have allowed me to achieve some benefits.

A credit score or a credit history that gives me access to better financing tools and much more, let’s start With the basics we should never pay with a credit card for something for which we do not have the money perhaps in cash in our bank account, in other words, we are going to use a credit card as a means of payment, not as a source of money in people.

That simply believes that having a credit card is having a worthy availability of money at any time and it is not so, it is a loan for which you have to pay at some point, then all of your money back and apart if you delay a certain amount of time a term because an interest and it turns out that the interest rates of the credit cards are the highest that.

What Is The Point Of Using A Credit Card

Exists n in the market for any type of financial product and it is also considered by the banks to be the highest risk product that exists, so if at any time you really need to pay something in installments, you do not have the money, it has the financial projection that you are going to receive. Later some income but you must acquire that good or service right now and for which then.

You need a loan it is better to look for fun for example an investment nothing forgive a free credit or some other type of means that allows you to buy it because using a card Credit is going to be super expensive so what is the point of using a credit card and if you are not going to make purchases in installments but instead you are going to pay all of them in a single installment even.

When we are in the establishment of the business, you ask us They ask how many installments we want to differ in the purchase we simply say that when we pay a single installment we do not pay anything in Terés only that at the end of the month or when the cut-off date of our card arrives, we receive the invoice for the totality that must be paid and that is fine.

A Credit Card In A Bank Assuming That

Because you simply know that you are using the credit card to buy something With which you can support with your bank account that expense means that if, for example, in this method, you do not have credit cards because you have not considered the need to finance installments and others you could request a credit card in a bank assuming that.

They give it to you and start putting on that credit card the expenses that you already have monthly, such as buying the food of the month in a supermarket, paying for gasoline, or the number of other things you buy online anyway but that are not New expenses that since you have a credit card already then you think about assuming but they are in themselves.

The expenses that you already had and you are putting them there so that to earn points This is one of the things that credit cards allow points that can be redeemed for certain benefits such as travel, airline tickets, hotels, prizes and amount of things or miles depending on the type of bank franchise, identity, with which you have your Credit card and some other cards even offer, for example.

The Truth Is That Each Credit Card Is Different

The catch back benefit, which is when they return 1 or 2% in cash directly for all purchases, the truth is that each credit card is different, it has different conditions, some have handling fees. and mandatory insurance rates, others not others have great benefits and good opening bonuses others have practically nothing so it will require an investigation on your part to know.

Which ones have the most benefits but I will tell you when one takes advantage of its benefits, let’s say in In my case, I have many high business expenses, advertising costs, and many other The operating costs of the different businesses that I manage where I simply use these credit cards and increase my points incredibly.

This allows me to have multiple trips with points each year simply without paying or paying very little in real money allows me to skip 57 days of stay in a hotel inside or outside the country because I am using and taking advantage of the benefits of these credit cards, in other words, credit cards practically generate money for me because I do not pay a penny in interest.

The Cast Majority Of The Cards

The vast majority of the cards I have I do not pay a management fee and because the benefits I receive from them exceed the expenses or costs that they mean to me then this is a strategy a way to take advantage of this as an excellent resource that also helps us increase or increase our credit score and our status before the banks for when the time comes when they can effectively.

It is possible we need such significant financing or credit and in this sense, I am recently experimenting with a new form of financing that is using my car as collateral for a free investment loan and I obtain the lowest rate on the market is almost a third of what is the rate of the cheapest credit card in the market, so let’s say that what.

I do in this sense is, for example, pay with a credit card, whether it be office equipment, a computer, some things that need and then with the car guarantee credit to buy the portfolio to buy that card debt with that lower interest rate and there I start to pay the debt as soon as possible or in the shortest term and number of installments possible so that the interest is but with this.

I Have Never Paid Interest On Credit Cards

I save a lot of things and I am also earning points and the benefits credit cards do not have to é becoming a headache they do not have to be a source of stress they are not debts they do not mean debt I have never paid interest on credit cards since I had my first credit card since I was educated about it and some family members.

They warned of the risks so I have never done because as in any purchase in installments with a credit card, they used alternative strategies for it, and let’s say that another advantage that one also has with cards is that if one makes a purchase strategically on the right day one You can have more than a month to pay without interest and for example, the cut-off date of a credit card is the 15th of each month you make a purchase.