in Gear Grinders

Credit Cards for Dummies

The recent news about the credit card interest rate hikes has reminded me to write this post about how to use your credit card and never get in debt.

If you recently got your first credit card, please remember these very simple rules.

  1. Don’t buy shit you can’t afford
  2. Always pay your balance in full

If you follow these simple rules, you won’t ever be affected by stupid interest rate hikes since you’ll owe nothing to the bank.

To explain a little further rule #2, when your credit card statement comes, DON’T EVER pay the “Minimum Amount Due“, pay everything you charged for during the last period, leave the balance in 0, it will give you a warm fuzzy feeling in your belly to know the bank won’t stick it up your ass anytime soon.

If you can’t pay everything you charged, it means you didn’t follow rule #1, shame on you!

Another tip, don’t use your credit card for the “points” or the “Rewards”, it’s all a load of crap.

Remember, a Credit Card is not Free Money. Believe it or not there seems to be a shitload of people out there that don’t seem to follow these 2 simple rules and now they’re “pwned” by the banks and crying to papa Obama.

Again…

DON’T BUY SHIT YOU CAN’T AFFORD, AND ALWAYS PAY YOUR BALANCE IN FULL

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