Credit Cards…Devilish temptation or Divine solution?

🤠Easy there, cowpoke. Before listening to the little devil on your shoulder and charging those new boots to your black card, you might want to pay down your monthly bill. 

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💳More people than ever are relying on credit cards with Americans collectively having over $1 trillion in credit card debt. Even though it's not the best long-term solution, credit cards have actually been helping people deal with our “less-than-heavenly” gas and grocery prices. 

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👿If you've been relying on plastic more than usual these days, you're not alone. The truth is, credit cards aren't as evil as they seem…. but they can get pretty devilish if you don’t use them right.

Here’s the Five Fast Facts on how to make credit cards work for you, not against you: 

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1. 💸 Levels of Credit Hell - Even if you pay your bills each month, running up high balances can kill your credit score. Try not to use more than ⅓ of your available credit at a time.
2. 📆 Going MAD - If you carry a balance from month to month, at least pay the minimum amount due (or MAD). Missing payments leads to expensive fees and a ding on your credit score. No matter how good you think your memory is, set your payments to autopay.
3. 👜 Buy Now, Pay...Now - Tempting "Buy now, pay later" services like Klarna and Afterpay have blown up over the last few years. Purchases are interest-free if you pay them off on time, but can cost you quite a pretty penny if you forget a payment or make a late one. It's best to use these services only if you REALLY need them. 
4. 💳 Friends with Benefits - Smart credit card holders know the power of using those points. If you're going to use a credit card, shop around for one that offers cash back on purchases or vacations.
5. 🚫 No Fraud Zone - Speaking of benefits, if your card offers it, take advantage of free fraud protection. Sign up for alerts on unusual purchases and always double check your statements.

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🔥Bottom line: Credit cards can be a HUGE help, but you need to use them wisely.

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Are you dancing with the Debt? Won’t use a credit card until Hell freezes over? Let us know by connecting with us on Social Media and be sure to share this newsletter with any friends & coworkers!

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