USING CREDIT CARDS

 

Credit Cards
WARNING, using credit cards can be like carrying a loaded gun. At the same time, they can be financially beneficial if you know how to shoot. On the other hand, they can be deadly if you don’t. In fact, many people do end up in debt using them. The interest that accumulates can make it impossible to ever pay them off. Groups that help people get out of debt prohibit their use altogether.

credit cards are a financial survival tool for the poor middle class crisis
Credit Cards from Linkedin.com

But in my case, using credit cards is part of my financial survival toolkit. With this caveat, I also strongly suggest the following. If you are not able to be vigilant using them by never missing a payment, do not include them in your financial survival toolkit.

 

How I Make Money Using Credit Cards
Yes, I have actually learned how to accumulate cash or credit towards purchases using my credit cards*. So far, I have discovered two ways to create income. If you know of others, please let me know. I have the following cards:
• a cash rewards card
• a travel points card
* The ‘income’ from them, the cash rewards are not taxable because the money is a discount or purchase rebate, not income itself.

 

Cash Rewards Credit Cards
Some banks offer credit cards that accumulate cash points for purchases. The points are a percentage of the expense. They range between 1% and 3%. I have been able to earn about $20/month with this system.

the poor middle class crisis financial survival toolkit
The Chase Freedom Unlimited Cash Back Visa
* Mention of this card is in no way an endorsement of it.

 
Travel Rewards and Sky Miles Credit Cards
I signed up for a travel rewards credit card when the bank had a special promotion. If I charged a certain amount of purchases within three months, I would receive 20,000 in travel points. I did this. The travel points will go towards a trip out of state to see family and friends.
Financial Survival Toolkit for the poor middle class crisis
Five Star Sky Miles Credit Card
* Mention of this card is in no way an endorsement of it.

 

Sources & Resources
Here is a list of the best credit cards for a variety of categories. You can explore these websites for even more suggested card categories.

Excellent Credit Scores:
Excellent Credit Score Cards

Cash Back:
Best Credit Cards for Cash Back | Compare Cards

Travel:
Best Travel Credit Card-BankAmericacard Travel Rewards

Credit Karma | Best Travel Credit Cards

General use:
Best Credit Cards for 2017 | Compare Cards

Credit Karma | Best Credit Cards

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