Cashology by FNBO

Credit Card 101

Episode Summary

Credit cards. Convenient, for sure. And a quick way to build good credit, if you use them wisely and pay your credit card bill on time every month. And that’s what we want to talk about today. Understanding credit cards, picking a good one for the way you want to use it and managing it . . . rather than letting it manage you. We’re calling this Credit Card 101. And it’s a great topic for anyone starting out with credit cards or who just wants to learn how to better manage the cards they have.

Episode Notes

TALKING POINTS

Everybody understands what a credit card is, right? 

Credit cards can help you build your credit score pretty quickly, though.

Is the same true for using a debit card?

Are all credit cards the same? Does it really matter which one you get?

So if you pay off your balance in full each month, think rewards card. And if you make partial payments, think low-interest card?

What about perks and special offers? What are some of the better ones we can get? 

And what about the costs of carrying a card? What should we watch out for? 

Any final advice?

Useful info/links

  1. Nerdwallet: https://www.nerdwallet.com/article/credit-cards/credit-cards-101
  2. MoneyWise: https://moneywise.com/a/credit-cards-101
  3. SmartWallet: https://thesmartwallet.com/credit-cards-101/?articleid=12183