🐺Credit Cards Can Make or Break Your Financial Future...

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Debit cards are simply inferior credit cards.

Here are the 5 reasons why I use credit cards for practically everything…

1) Rewards

Credit cards commonly offer rewards like cash back and points.

Although these rewards are small, they add up over time.

Such as 3% cash back on groceries = $300 on $10,000 spent annually.

2) Credit History

Consistent credit card spending and repayments build your credit score.

That could mean the difference between a 6% and 7% mortgage.

That’s $100k+ more interest over a 30-year average mortgage from a 6% to 7% spread.

3) Cash Flow Management

As you know, credit cards have a grace period between the purchase date and payment date.

That gives you more flexibility regarding when money actually leaves your bank account.

Cash flow management is everything – the more flexibility, the better.

4) Fraud Protection

Credit cards have better fraud protection than debit cards.

Particularly because these fraudulent transactions do not directly affect your bank account.

Plus, federal laws like the Fair Credit Billing Act give credit cards favorable liability policies.

5) Insurance

Credit cards sometimes offer insurance benefits as complimentary perks to cardholders.

Examples include travel insurance, rental car insurance, and cell phone insurance.

Beware, cards that offer insurance sometimes jack up your annual fees.

I’m not saying debit cards are terrible.

I’m merely suggesting credit cards are superior in just about every way.

The one obvious downside is if you’re unable to make your payments.

If you’re undisciplined, stick with a debit card