So this is one of those videos, that I rarely make, it’s a bait and switch video, which I’m not a fan of making but there are some massive benefits to making videos. Not for me but for the people that watch them.
First off in this video I’ll tell you the top 3 crerdit cards, but I will also tell you after I give you what you came for, why I don’t have credit card, how I bought a home without credit, and also a car; and why today I live debt free and I don’t owe any money at all.
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If youre are a beginner watching this video and you want to get credit cards to buildl credit here are the best
First secured credit cards are best for people new to credit
And secured credit card, are that require a cash deposit
So if you don’t pay they can take your money
So here is my list of the best secured credit cards
Capital one secured credit card
Discover secured credit card
Chime also has a credit builder account
OpenSky but it has a $35 annual fee but they basically accept anyone
Now Here are some normal credit cards
Discover it card
Chase Freedom Credit card
Capital platinum.
Now these credit cards, are gateway cards and they are pretty easy to qualify for
They can be used for students, people new to credit and so on
But if you have a terrible credit score because of bad paying habits or whatever the reason is
You could be better off with credit builder accounts and credit cards with annual fee but that will accept you
Here what you didn’t come for but if you stay it may change your life
You don’t need a credit card at all and they give you a bunch of Reason which are really excuses and traps to get you to get one
First you didn’t earn a credit card application
Credit cards are not for emergencies
Points don’t matter
100% of the people that use credit cards are in debt
You don’t need to build Credit
Okay lets break this down point by point
Most likely you’re getting offers
These offers are made because they want to get you on the hook early on
When you are most ignorant about interest rates and spending habits
So you will get offers like no interest for 12 months and so on, don’t fall for it
Credit for emergency
Imagine using a credit card as emergency that if things go wrong or get worst
You have to continue to pay interest.
Just get a debit card and build up some savings.
Points don’t matter
To get a $1 you have to spend $100
Most point go on un-used
And people tend to spend 12-18% with credit cards, so point are just a catch
Plus one missed payment and boom points gone ( in the same of interest is super high )
100% are in debt
If every person that plays is in debt why would you play this game
Plus the ones that get really hurt, get stuck with 4-6 grand worth of credit card debt
And they don’t even remember what they bought
You don’t need to build Credit
Car you can buy cash ( buy something affordable )
Apartment can use your bill history and so can insruance by the way (and income )
I recommend
Don’t get a credit card
Focus all your energy on building wealth, via staying debt free, saving for emergencies, investing and focusing on paying off a home or saving up for one
Credit is one of things that gets a lot of people hurt, and even the ones that don’t get hurt, end up spending more
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
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