Go offline with the Player FM app!
Credit Card - Your Friend Or Foe?
Manage episode 326954095 series 3337684
Even before you apply for a credit card, and certainly before you use it, ask yourself this question: Is a credit card your friend or your foe? Perhaps it’s your friend when you need or wants to make a purchase and it’s your foe when you struggle to pay the bill. True, but this sort of situational logic isn’t really helpful if you’re trying to develop a healthy perspective on paying with plastic.
Click here to get full information about credit card-your friend or foe
In truth, a credit card is neither friend nor foe, it’s simply a tool: useful for some jobs, ill-suited for others. An electric saw is a great tool for cutting wood, but not so great for mixing cement.
You get a free credit period
When we pay using a credit card, we are essentially paying the bank’s money instead of depleting our own cash balance. Different credit cards give a free credit period between 30 to 50 days. This can be very helpful at times. For example, when you have to pay a security deposit to rent a self-drive car or guarantee when staying at a hotel. Typically, if you use a debit card the funds in your bank account get blocked thus affecting your liquidity.
25 episodes
Manage episode 326954095 series 3337684
Even before you apply for a credit card, and certainly before you use it, ask yourself this question: Is a credit card your friend or your foe? Perhaps it’s your friend when you need or wants to make a purchase and it’s your foe when you struggle to pay the bill. True, but this sort of situational logic isn’t really helpful if you’re trying to develop a healthy perspective on paying with plastic.
Click here to get full information about credit card-your friend or foe
In truth, a credit card is neither friend nor foe, it’s simply a tool: useful for some jobs, ill-suited for others. An electric saw is a great tool for cutting wood, but not so great for mixing cement.
You get a free credit period
When we pay using a credit card, we are essentially paying the bank’s money instead of depleting our own cash balance. Different credit cards give a free credit period between 30 to 50 days. This can be very helpful at times. For example, when you have to pay a security deposit to rent a self-drive car or guarantee when staying at a hotel. Typically, if you use a debit card the funds in your bank account get blocked thus affecting your liquidity.
25 episodes
Todos los episodios
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.