The INCORRECT way to use credit cards.

Since nobody teaches us about credit cards, credit scores, and credit reports we are left to our own imagination what to do with these tools once we have access to them.

We look at what MOST people do with credit cards and it's easy to see what is the WRONG WAY to use credit cards. So the INCORRECT way to look at credit cards is as a way to SUPPLEMENT your income. If you make $4,000 per month and you have a $10,000 credit card limit, it does NOT mean you have $14,000 to spend.

For some reason people think that's what cards are for, or to use as "emergencies". But this is a TRAP! People load up their cards by going out to restaurants, buying drinks at the bar, buying shoes, clothes, purses, medical debt that is NOT within their budget.

And then you end up paying interest through the NOSE!!! For example we had a client that has about $14,000 of credit cards at an average rate of 18%. He is only making minimum payments of about $350. This will take 375 months (31.25 years) and will pay $20k + worth of interest.

There are only really 2 correct ways to use credit cards. These ways will allow you to use credit correctly and NOT pay credit card interest. You can choose 1 of these 2 ways depending on whether you have a consumer mindset or an investors mindset.

(Disclaimer you have to work your way up to get good cards with good rewards.)

Watch the video to learn how to use credit cards correctly!

If you’re interested in scheduling a talk with me about YOUR specific situation in regards to a mortgage / real estate transaction or need help with your credit…

Send me a DM, email me, call me, or book an appointment on my website!
consulting@richardlep3.com
(949) 791-9023


#mortgage #realestate #creditrepair

Follow me on social media @ richardlep3

cards.