In this video we discuss the top credit card myths out there and why they may not be entirely true. Credit cards can be very harmful or very helpful to your financial life depending on how they are used. By the end of this video, we hope to extract the truth and the lies behind some of the most common credit card myths. This is part 2 of a 2 part series of Myth Busters – Credit Card Addition. Video Breakdown:
Myth #8 : You should cancel your credit card accounts you are not using.
Myth #9: The opposite -You should never cancel your credit card accounts.
Myth #10 : Credit card terms are non-negotiable.
Myth#11 : Use your debit card instead of a credit card , its practically the same thing.
Myth #12: If you get declined from a credit card after you have applied, that decision is final.
Myth 13: I cant get a credit card until I am 18, so I cant build history or my credit score until then.
Myth #14: Never use your credit card online, it is unsafe.
Myth #15 : Once you get the sign up bonus, you can put the card away and not use them ever again.
Myth #16: Paying an annual fee on a credit card is a waste of money.
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In addition, it is important that if you do look to open more accounts, that you get quality credit cards that will not charge you outrageous fees but instead give you great sign up bonuses. Below are a few links to some of my favorite credit cards for both Business and Personal use.
Personal Credit Card Referral Links:
*Chase Freedom Unlimited:
Earn $200 cash back with Chase Freedom Unlimited. I can be rewarded, learn more
*Discover It – Cash Back
Become a Discover Cardmember and get a $50 Statement Credit with your 1st purchase within 3 months.
Business Credit Card Referral Links:
*Chase Ink Business Unlimited
Earn $500 bonus cash back with Chase Ink Business Unlimited I can be rewarded, learn more.
Free Annual Credit Report:
Photo Links:
Washington Bill Photo:
Myth Buster photo:
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