We live in the Greatest Country on Earth, The United States of America, and in America, credit is a ‘way of life’.
Good Credit is what makes the American economy go round-and-round.
Your Good Credit can be a big part of building personal wealth and personal financial security, but it is important to know how to use credit the right way.
Good Credit is just one piece of a larger financial strategy, and for any strategy to work well, you must first know the rules.
The first rule of Good Credit is to never accept any more credit than your income can handle.
The second rule of Good Credit is to not purchase anything on credit that you cannot pay off in full before the monthly statement date.
The third rule of Good Credit is to not purchase any large ticket item that you cannot pay off in less than six months.
Of course, there are always exceptions, like a vehicle or a house, but all other purchases should be paid off within six months.
These are the rules of Good Credit.
If any person out there is using credit, or a credit card, as a piggy bank, or is setting aside a credit card for emergencies, then I can tell you, that this is a potential recipe for financial disaster.
Good Credit is Meant to Help You in Certain Ways:
- Convenience: using credit allows you to not carry large amounts of cash
- Opportunity: Good Credit allows you to take advantage of profitable investment opportunities
- Employment: Good Credit helps you to qualify for jobs that pay more than $75,000.00 per year
- Saves You Money: Good Credit allows you to buy discounted high ticket items at very low interest rates
There are a variety of loyalty programs and cash reward programs that are offered by several credit card companies, and you should know the purpose of these programs, they are designed to entice you to excessively use your credit card, and though you may earn loyalty points or cash back rewards, if you are not careful, these rewards and loyalty programs may lure you into accumulating massive amounts of debt.
I personally have a 2% cash back rewards credit card from my local credit union, and I do use my credit card to buy everything, and I do mean everything, from bubble gum, gas, groceries, travel, and just about all that I need, and all that I want.
I am so glad to report, that for the past 20 years, I have been committed to paying my credit card balance in full, every single month, on the statement date, and I have never paid one red cent in credit card interest, but instead, I have collected thousand of dollars in cash back rewards.
It’s all about changing the way you think about credit.
You can do the same thing too.
Start today to change the way you think about credit, and look at credit as an ‘investment tool’ that can help you to enhance the quality of your life, rather than looking at credit as a means to buy things today, that you can pay for… later.
Credit is serious business for me, and since I have changed my way of thinking about credit, I have dramatically changed the way that I use my credit.
This one simple ‘switch in thinking’ has allowed me to take advantage of so many good opportunities.
You need to know, that there are just so many financial opportunities out there, that will never be available to good people with bad credit.
I can honestly say to you, that having Good Credit is a totally different way of life, and every bit of struggle that you might face to achieve Good Credit (800+) is absolutely worth it.
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