I’ll show you how to use credit cards. Some people say that no one has taught you how to use credit cards, or that if they only knew how to use credit cards when they were young, they wouldn’t.
So today is your chance to understand. We are going to enter a vision. At the end of the article, I’ll write down how I keep my credit score high and all the important tips that are useful so you can avoid debt.
Basically, using the credit card’s whole point, accumulating your points, you can fly around the world for free, depending on the type of reward card you’re going to have, because you certainly want to get some reward cards out of use.
You may get a cash return reward, which is a voucher sent to you at the end of the month. I get one from Costco and the credit card provider, so I get two separate rewards from them.
I get air mileage by personal credit card. If you are an entrepreneur, you can use your business card to get mileage. So the key to using credit cards is that you use them.
Many people make the mistake of distorting it and using credit cards. They’re rich credit card companies and making billions of dollars as Canadians because we don’t make good choices when using credit cards.
Let’s put the monthly cost, it’s a 30-day month. On Tuesday, we’re filling up, we’re spending $60, we’re going to lunch on Friday, because we pack our lunch from Monday to Thursday, whether it’s colleagues or us for $25, we buy some groceries on the weekend, we’re spending another $180.
I’m using random numbers, we have to fill the car with petrol again and again on Monday, and then we’ll deal with dental appointments or our regular expenses and daily life.
They are not extracurricular activities, but you need to live to carry out your daily activities, so some people think you need a credit card to live.
If you need a credit card, you can use it to collect daily fee points so that you can carry another credit card free of charge around the world.
On Friday, you decided to go out with your colleagues. You don’t need 30 dollars for lunch. Maybe you want to have a few beers with some friends after work, and then spend another 40 dollars sitting around chatting for hours.
It’s Saturday night. It’s a date night. You’ll go out to dinner with Misus and spend $90. Next week, maybe you go to the cottage at home, you have to refuel two times, the cost is 120 dollars. Or at that time, it’s winter, you go skiing at night, you spend 120 dollars.
Later this week, if you skip beer after work, will you go out again and spend $30 with your colleagues? We rented a grocery store and spent another $220 on groceries, and then we went on for the whole week, and we got $60 more gas.
You have another appointment, and you have another 10 dollars to park. On that day, you go on for the whole month, and there are other expenses.
Netflix charges on your cable TV bill and other charges like gym memberships deduct a lot from your credit card. Have your Netflix, your Internet service provider’s stuff. The total amount is 120 dollars, you add fuel again.
These are the basic things you need to use, take care of your regular fees, it’s convenient, you don’t have to go into the gym and pay $25. Get money from your credit card like your Internet service provider.
You don’t have to go to the bank to create a draft or a check or a bill of exchange and mail it to them. They transfer money from your credit card, so there’s a lot of eavesdropping when you’re filling up your car.
This is useful and useful, so these are the monthly fees you need. But now I don’t like dating nights because they’re not necessaries and you want to take the kids to the ski resort and do the same thing.
If you make a couple of date nights, and another $120 dinner and movie, maybe dessert, there’s nothing else you can do for fun that might not be a regular monthly fee.
If you want to go to LCBO and get a large beer, you will get some spareribs because you want to make some barbecues. You spent $200 to entertain some friends, because it’s your turn now.
So this is an example of how to use a credit card. Let’s add this. It’s $1460. It’s not a lot of money, but you put it in, your groceries, your utilities, your gym membership, extra gas to the family cabin, and take the kids along the ski resort. A couple of date nights, a couple of beers, ribs and wings, you’ve been to LCBO and got your stuff and refueled your car again, which could be the regular month for the average Canadian.
Now you may ask yourself, so how to make good use of credit cards. Your bill usually runs on a 30-day cycle, and most credit cards usually expire between the 24th and 27th of the month, so I’ll be online.
My statement is usually in the first week of this month, and I will create billing online through online banking. This is quite simple. Once I create the bill payment, it will automatically pay the date.
Now, if the bank issuing my credit card can pay on that date, it should expire. If I am dealing with my Costco card, it will be issued by the service driver. I do not intend to mention the name of credit card companies bank, but it has nothing to do with the bank I handled.
I usually make sure payment is made between one and two days, so there is no delay charge. If it expires on the 25th and I set the bill payment to the 25th, they may not receive payment on the 25th, and it may arrive in a day or two, which will be a delay in payment.
You may generate interest or a fine, which may have a negative impact on your credit rating. So remember, if you’re dealing with one of the five big banks and they issue credit cards, you can pay at maturity, but you can now automate the process.
The whole idea is that user cards charge you fees, collect your points, and fly free to all parts of the world. You have to pay the bills every month. Now let me make it clear that you have no right to get anything because you have a credit card in your wallet.
That doesn’t mean you can spend $2,000 on large-screen TV and hand-painted settings or handbags and shoes. Whatever luxuries or anything you think you deserve, you don’t deserve them if you don’t have enough money to pay the bill in full.
You want to see a credit card as cash, and what it does is postpone. When you withdraw cash from your bank account instead of paying it in cash, All you do throughout the month is collect cash as soon as it matures, and then you pay the loan on the loan card.
Without interest charges, you can get full points for free, and in some cases, you will be able to use them to reward flight travel or rent a car.
You’ve probably talked about using credit cards to get important tips on good credit scores, so there’s no downside to your credit rating, because what we’ve done is get people out of credit card debt, which we’ve personally done for a long time, but in the credit collection business for nearly 20 years.
We have already solved hundreds of millions of dollars worth of debt and helped thousands of Canadians. I have a little experience in this field. I give you this information, because I am not from an inexperienced place. This is what I have seen. This is a pattern or trend. Not doing so will make you indebted. At the end of the story, according to this, you will not be indebted.
Now, in this case, it is important to manage credit cards and maintain very high credit scores. We have $1160 and one thing you always have to make sure you never charge more than 50 percent. Control it at 50% of your limit.
One reason you’ll never exceed the 50% limit is that once you exceed the credit card issuer’s threshold, they all have their own algorithms and rules, and the cookie cuts one out to let you know what’s going on.
But my experience is that if you charge a limit of 50% or less, you will be fine. Anytime you’re over 50%, if I charge a lot and spend $1,500 a month on my card, I manage my budget, I’m good at money, I’m not going beyond the limit, I’m not going to spend $3,000 on my own happiness, and then I have to balance, and that’s garbage.
I’m managing my budget, so if I keep around $1500 a month, I need a card with a limit of $3000. It’s so simple that it’s the most important thing not to charge more than 50% of the quota.
If you hold the balance, you will pay 19% to 28.8% of the fee, in some cases, if the credit card company does not like your payment habits, you can unilaterally decide to raise the interest rate. You may have or may carry more balances on credit cards. So never balance. PIF is always paid in full.
Third, always pay on time. If you pay at maturity, maturity, and credit cards are not guaranteed, they will not provide any assets for your health.