Credit Cards

Getting rid of consumer debt, like credit cards is the first step on the road to building wealth and creating financial stability for the future. Educate yourself on the pros and cons of using credit, and proceed with caution.

Exclusive Credit Cards

Credit Cards
If you have a high enough income and a high enough credit score, there are a number of credit cards out there that offer exclusive benefits and that allow you to run up your balance and spend to your heart’s content.

How To Stop Credit Card Offers

Junk Mail
I hate junk mail, and I hate spending the time sorting through it all. One of my goals this year is to simplify my finances and eliminate most of the mail I receive at my home and business. Getting credit card offers in the mail can be risky especially if you just toss these offers in the trash without shredding them first.  You become a potential target of scammers stealing your mail. Today there are enough credit card offers available online. Being we are now living in the twenty first century, snail mail is no longer needed. There is a way to eliminate all credit card offers, best of all, it only takes two minutes.

0% APR Transfer..That Really Isn’t

Dave Ramsey
My wife and I have a number of credit cards, but we rarely use most. For the most part, any debt we incur we pay off monthly. We now have a Fidelity Visa that gets decent cash back rewards.  As I’ve mentioned before, I’m not one to state “debt is evil” as so many other personal finance gurus state.  Debt, if used wisely, can help achieve your financial independence.  Debt is like a gun.  In the right hands it can be used for good, and for others it can go off in their face killing them.  I believe it’s more an educational and personal responsibility issue than anything else.   If you are too impatient or too dumb to buy that big screen TV on a 19.99% APR credit card – Who’s fault is that?  The credit card companies didn’t force you to sign up with them or force you to use them at the checkout counter.

Responsible Credit Card Use

Credit Cards
Credit cards have benefits, despite their dangers. While it may not be advisable to have a plethora of them if you’re a spendthrift (being that credit cards can be a dangerous tool in the wrong hands) for those of us who have better self-control, there are solid credit cards that can prove to be more helpful than plain old debit cards.

The Poor Transfer Wealth to The Rich Via Credit Cards

Three Card Monte
Reuters has a story about the poor getting bamboozled with yet another scam.  No it’s not three card monte or state run lotto tickets.  It’s via credit cards, and the rich are getting well.. rich off of them.  According to the Boston Federal Reserve report, with its pretzel logic, only poor people pay by cash, and the rich elite pay via credit cards.  Who better to perform the study than the Federal Reserve.  With their multi-generation devaluation of the dollar, the Federal Reserve is an expert about wealth transfer.  The report though, is class warfare at its finest.