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Hi, Welcome to my podcast The
Way I See It. Here we'll talk

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about money, the market, and
of course personal finance. My name is

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Carlu Hager, and this episode I
want to talk about credit cards. You

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know, credit cards what we call
or what I call a necessary evil.

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You need them because you want to
get a good credits call right, but

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they're very dangerous because if you misuse
them, they do put you into a

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lot of problems. So somewhat text
out there on how you use your card

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as I do, like my top
should we say about top thirteen reasons why

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you should get a card credit card
and how you should use lettles. Go

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down the list. Number one is
get maybe one or two cards maximum.

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You don't need five or six cards
to boost your credits CAD. One card

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is good, two cards are good. That's really enough. I would say,

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you know, if you want to
til that down, let's go to

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a number two point. Get a
card or get cards based on how you

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spend. So like if you do
your groceries, you can get a general

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card that you're going to use to
pay in the store. Let that card

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have points on it, right,
so if I'm spending I'm getting points back.

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If I like to travel, I
want to get travel my house back.

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So if I'm going to have two
cards, I could use one card

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for my grocery shoping to pay all
my expenses, and I get points back,

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and I can use one card to
travel, so I get those points

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as I travel. So get one
or two cards and be a max.

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Three cards, and then make sure
your cards are all point cards. So

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if you use your credit card just
to get the points, it's almost like

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free money. You're not putting the
balance on the card. It's just to

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get those three points because you're always
going to shop, right, So that's

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how you want to use it.
Third point is use your cards frequently.

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Don't get the card and keep it, use the card, pay the card,

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don't carry the balance, but use
the card, pay the card so

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you get the points. Right.
Also, you keep your credit quote unquote

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yeah, it is. As long
as you pay the card off in full

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every month, then you don't have
any interest. You don't have in any

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APR to worry about. The fourth
point is if you want to carry a

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balance, balance means that you don't
pay the card off completely in the month

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you've used it. If you're gonna
carry a balance. Try to keep that

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balance below thirty percent. That then
gives you your life sort of skating below

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where you can make your credit card
start to fall. So if you're gonna

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carry over a balance, what I
means if you if your card is one

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thousand dollars and you spend one thousand
dollars, try to pay at least seven

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hundred so you only have thirteen percent
that you're carrying overright, So very very

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important. If you can pay on
your card, great, if you can,

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try to keep the balance at below
thirty percent. Number five most important,

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never miss a payment, Never ever
ever miss a payment on your credit

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card. The minimum most cards to
pay is two point five percent off the

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card balance. Set that up on
autopay. So even if you forget to

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pay your card or you have an
explorer your your card is charged and you're

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aware of it, at least you
pay the minimum. Then you can go

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back and contest or dispute or whatever
you want to pay your want to keep

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your call exactly correct, So never
ever ever miss a payment. That kills

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you. Right. Payments is about
that's paying your cards consistent. It's about

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twenty five percent offer to the credit
card. You only keep that as high

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as possible. Right when you're traveling, it's a six point, try to

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use your credit card or not your
debit card. I mean, it's why

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it's well most debit cards, maybe
you should buy your bank. Right if

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you have a dispute or fraud on
a card, they tend to shut those

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cards down. So imagine if you
left your home and your on holiday and

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maybe somewhere exotic, and your card
gets shut down, then you're like,

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you don't you can't use that debit
card anymore. But with credit cards,

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they can try and they can focus
on just that transaction in dispute, but

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your car still stays open. So
just the hack I mean, go with

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your credit card is I think it's
quote unquote is easier for you to file

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disputes than using a debit card.
That's what I'll say on that point on

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six. Right on seven, you
want to make sure you keep your ficoscore

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i e. Your credits CAD as
high as possible, so the card allows

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you do that. So the more
you use your card and pay your card

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off and keep your balance is slow
the best. That's the best way to

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keep your ficlescore up and up and
up and up, so use your card

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paid off in full or keep a
balance below tedy percent. That's one very

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very good practice to keep your credits
care up and up and up. On

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a eight points, don't close out
older credit cards. The first credit card

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you get trying not to close it
out, or the older cars trying to

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close them out wide because how long
your cards have been gives your score on

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your fire c is about ten percent, So the longer you've had your credit

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get about ten points. It helps
you with your fycroscope so you don't have

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to use it. You don't have
to buy a thousand dollars on your card,

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buy gas or buy coffee with the
old cards paid off. End of

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story. Instead up on autopay.
Every month it maybe pays some tiny tiny

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Winni bill and you paid off your
autopay. Keep the car active. It

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gives you those points and you're good
to go. Number nine. Be careful

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about how you apply for new loans. The more you apply for loans,

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even outside your own institution, it
records. The more you apply, it

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dings you when your credit is being
pulled. So if you apply one story

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strap and all that, it's recording
that against you. And it's dinging you.

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When it's pulling your credit, it
shows up that you're applying for credit

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and it's not illegal. It's not
muchly shows if you want to buy a

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house, clearly you're gonna have to
go shopping around to get the best ap

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R. But be careful that you
don't pull a lot of credits. You

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go to a store and say,
hey, if you get this stuff,

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you're gonna get ten percent if you
apply for a credit card. Try not

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to do those stuff. It's not
that necessary forward to pull creditors to get

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a discount and new jacket, right, So be careful about applying for new

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loans. Number ten, if possible, get on the card that you don't

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pay annual credit card fees. Most
cards now are zero percent and all fees.

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You don't have to pay a fee
to a card. Hold are lots

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of cars out of US sero percent, so go for those ones. Don't

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pay any and all fees for a
car doesn't make any sense now. Number

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eleven. If you suspect fraud,
report immediately immediately. Most claims are only

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good if you report within sixty days
off you discovering right, So make sure

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once you see a fraud or dispute, are not aware of call the bank

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called the credit card company, issue
immediately and report that very very very important

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number twelve. This is more like
a hack. Right, you want to

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build credit out for your kid.
If your kid is eighteen years old,

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you can go with your kid and
apply for credit together as a joint with

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your child. But look at the
cabyet Right, I wouldn't give my kid

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a credit card. I would apply
for the credit card, get the credit

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card, keep it. When I
spend on that credit card, my kid

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gets the credit score. It gets
the better because of that credit card as

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well. Right, I can use
the credit card and pay for its expenses,

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but I might not give him the
card to use, right, I

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mean it's your call. Ultimately,
there's not a law that says you can't

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give him your card. But it
might be your kid goes to school at

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eighteen, and it spends four years
in school or five in school, and

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you're spending on that card and pain
back on time when he graduates. HA

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got a better credit care than his
colleagues. So that's a hack for you.

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For twelve. You might want to
get that credit card and put your

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kid once it's eighteen on that card
and just build his credits piggyback in off

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you. Then the last one is
min number thirteen. So credit reports and

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America at least are free the lossage. You get one from the credit compinning

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once a year, and I think
America has got four with means technically,

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if you get four free reports,
it's not your FICO score, but the

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credit report that shows your inquiries why
might have a good or bad credit score

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is very detailed. It's good practice
to at least pull once, at least

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once in six months and just take
a look at it or what has happened?

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Do I agree with all this?
Whenever I don't agree with to call

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the bank or the credit card company, I do a dispute interity. It

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is a good had for you to
get it and to review it and know

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exactly what's happening with your money.
That's the guy's thirteen points on how you

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want to use your credit score,
not not just to get a good FICO

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score, but also to build a
practice of savings and spending responsibly. I

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hope it helps you, and I
hope you will gin back next time.

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We do have a podcast, and
my podcast is the way I see it

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to share and subscribe and appreciate it. I appreciate you guys listening. Thank

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you so much, and by