Money and Credit Cards

Some people can fear or love credit cards. Its all depending on how you use them.

I love them!! I get paid to use them!! I'll tell you why.

First of all take everything you know about credit cards out of your head. You need to understand that there are two ways to use credit cards the good way (credit card companies hate this) and the bad way (credit card companies love this).

To start off let me tell you that credit cards should not carry a balance from month to month. I have never carried a balance on my credit card longer than the grace period. I have never paid a cent in interest. I use credit cards for only select things.

I actually get a check every few months from my credit card company for about $50. Here is how.

To let you know I don't work for any one...currently unemployed so no one is paying me to tell you this.

Certain Cards like the Dividend card from Citibank offer cash back rewards for purchases. I get 1% cash back on every purchase and 3% back on select purchases like gas and drug store purchases and whatnot. There are actually quite a few cards out there that allow you to do this. All you need to do is wait for your balance to come due at the end of the month and pay it off. If I am going to buy gas anyways why not charge it on my card and make 3% cash back? The thing to keep in mind though is that if you miss a payment or don't pay the balance off in full you defeated the entire purpose of the card and the credit card company has just won the game.

You need to do research on any credit card that you do get and only get the ones that are the best. I personally did lots of research and ended up with a Citibank Divident Student Card and an American Express Blue Student Card. These might not be the best choices anymore but they are certainly one to look into.

Also something to keep in mind is to know that Congress passed laws not long ago that now don't allow you to walk away from credit card debt while in bankruptcy. So if you bought it on a credit card you need to pay for it....end of story.