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7 Smart Ways To Use Credit Cards

October 23rd, 2010
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There’s a lot of people out there who shy away from credit cards, and for good reason.

I’m sure you’ve heard plenty of horror stories about outrageous fees, insane interest rates, and crippling debt that all come with the use of plastic for your purchases. With all the bad media attention credit cards have gotten over the years, and recent laws unmasking the shadowy underbelly of the banking industry, it harder than ever to like the damn things.

But to throw them out completely is a mistake. A big mistake. Because with the right tactics, credit cards can be powerful tools in your financial life.

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7 Credit Card Lies They Fooled You Into Believing

July 6th, 2009

creditworryI’m sure you’ve felt the crippling blow of credit card debt in your life at some point. Perhaps even now.

So have I. When I was much younger our family sweated at jobs we hated just to keep up with all the payments. And it’s not like we were living the high life off the debt, either. Most of it was spent on basic necessities and the occasional simple pleasure.

If you’re clever, credit cards are a great way to “float” the payment of anything you buy for as much as 25 to 30 days after purchase – taking advantage of the grace period without racking up interest. That’s how I make use of them today, and I think the only sensible way to deal with personal credit (business credit is another thing entirely.)

But beneath the obvious veneer lurks a more sinister legal truth – one that can trash your credit rating and leave you drowning in fees.

At first these lies sound sensible, even smart. However, their bite is often worse than you could imagine.

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