Credit cards can save you thousands of dollars, here are 5 credit cards everyone should own
Credit cards can save you thousands of dollars due to:
• reward points & cash back
• raising your credit score
• purchase protection
• travel protection
• free insurance
Here are 5 credit cards you should own & use responsibly (with a $0 annual fee):
1) Chase Freedom Credit Card:
• 5% cash back rotating categories each quarter
• 5% on travel
• 3% on dining & drugstores
• Trip delay or cancellation insurance
• $0 Annual Fee
2) Capital One SavorOne Credit Card:
• 10% cash back on purchases made through Uber & Uber Eats
• 8% cash back on entertainment
• 5% cash back on hotels & rental cars
• 3% cash back on dining, entertainment, popular streaming services & grocery stores
• $0 Annual Fee
3) Discover It Credit Card:
• 5% cash back on rotating categories each quarter
• 3% cash back on drugstore purchases & dining at restaurants
• 1% cash back on all other purchases
• $0 Annual Fee
4) American Express Blue Cash Credit Card:
• 3% Cash Back at U.S. supermarkets
• 3% Cash Back on U.S. online retail purchases
• 3% Cash Back at U.S. gas stations
• 1% cash back on all other purchases
• Purchase protection
• $0 Annual Fee
5) The Costco Anywhere Credit Card:
• 4% cash back on gas and EV charging
• 3% cash back on travel, hotel and rental cars through Costco Travel
• 3% on restaurants
• Travel accident insurance
• $0 Annual Fee (with Costco membership)
A) Credit Card “Hack”:
If you have a credit card & a child, add your child to the card as an authorized user, and pay your bills on time.
When your kid turns 18 they should have an 800+ credit score.
With great credit, they can get a rental property at 18.
B) Tip to Increase Your Credit Score:
The easiest way to raise your credit score is by lowering credit utilization.
You can boost your score by using less than 30% of your total credit line.
Asking for higher credit card limits can help with this.
Credit cards offer many benefits that debit cards do not, rewards points & cash back can be considered “free money”. Always pay your credit card in full each month, so credit cards are an asset & not a liability. Use credit responsibly, and don’t charge anything you can’t pay off in 30 days!
What’s your favorite card?
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