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Adult Life Tips - Credit Cards

Thank you for tuning in! I'm so excited to announce all these great credit stuff:

+ Target Red Card limit increase after 3 years with Target
+ Angel VIP upgrade
+ Paid off 1 credit card
+ Paying off 2nd credit card in June
+ Paying off Best Buy MacBook Pro in June
+ Now I can put some money aside for student loans (still a 36 months goal)


I'm going to wait for all this to process so I'll have a higher credit score to "score" me a Chase Unlimited Freedom card. They are offering $150 for spending $500 the first 3 months and 1.5% cash back on every purchase. I have so much dental work and it'll total over $500 for sure, even after my dental insurance. My visa is currently at 1.25% only and I want to be rewarded to the max with my spending, so I'm hoping for the Chase Unlimited soon.

After that, I'm looking into a crazy bonus traveling card too because a roundtrip to Thailand is $600 ish right now. I'll finally buy my and mother's flight! Potential traveling date is August or October. I'm looking at the Capital One® VentureOne® Rewards Card: Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within the first 3 months, equal to $200 in travel. Travel when you want with no blackout dates and no foreign transaction fees. Miles don’t expire and there’s no limit to how many you can earn. Our tickets will be over $1k for sure.

For now, I'll discuss about credit cards.

Why: Credit is needed for you to get loans in your adult-er life; like car and house loans. If you don't have a credit or if you have bad credit, it'll affect what you pay. My car was financed through Toyota at 1.9%, which meant I paid about $700 in interest over five years. If my credit wasn't as good at that time, I would've paid more interest.

Biggest credit card rule: Always pay off the balance to avoid interest. Interest is how the company/business earns anything.

BestBuy: Anycard with their own store name is usually a store card, but if it's actually a credit card, then it's one. I charged my $849 macbook pro on my BB card and choose the 18 months no interest. This meant that I had 18 months to pay it off and pay no interest. If I don't pay it off in 18 months, then I have to pay all of that because I didn't pay on time.

VS Angel & Target Cards: They usually have an interest right away; there is no waiver period. When I first had a balance on my Angel card of maybe $150, my interest was about $10. I was like, uh naaaah! My Target card took forever for a credit limit increase.

Credit Limit: How much you use and what's available to you. Lets say your credit card limit is $500 and you use $100 a month, that's 20% of your credit you're using. In the credit world, this is bad! That's why it's important to have a high credit limit, so it doesn't appear this way. Therefore, if your credit is $1000 and you only use $100, your credit usage is only 10%. The credit world thinks you're awesome! For me, I'm always using my Target card, so it looks like I use 70% of it all the time, but it's not.

I'll discuss more another time.

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