Credit Cards. I know what you’re probably thinking, “Credit Cards are the devil to become financially free!” They aren’t the devil if you’re doing it right! If you are disciplined, pay your bills on time and only buy what you actually have the money in your account for, you will benefit from having a rewards credit card. The difference between rewards credit cards and your average credit card is that rewards credit cards pay YOU every time you use them! You can get paid in cash (Cash Back Rewards) or points (travel miles, gift cards, hotel stays, etc.). I have to buy food. You have to buy food! So why not use your credit card to buy what you're going to spend money on anyway and earn some profits? Throughout travel life I always say, "If I've gotta spend money I want to make money at the same time."
I only have 3 credit cards and they are enough for me.
My Top 3 Credit Cards!
I have listed 3 credit cards that I’ve used that I enjoy. There are many other options
(E.g. Capital one Saver One, Capital One Venture, Chase Freedom, Discover, etc.)
This was my very first credit card while attending university because they didn't charge any fees for university students. I later switched banks to Charles Schwab because they have NO FEES!😁. Wells Fargo was a good start but I DON'T recommend staying with them unless you to want to play a ¨dodge the fee¨ game with them for years to come. I later cancelled this credit card and got the credit cards I describe below. I initially chose this card because it didn’t have an annual fee. When building wealth and saving money, I find it important to find free things that still give me advantages. The cash back percentage (2%) is lower than its competitors but without the annual fee, it’s an attractive option for people who are starting out and don’t want to worry about another needless bill they have to pay. It takes a bit of time to start getting cash rewards but the more you spend the more you’ll receive. If you have to spend money on necessities, use your credit card and you’ll earn cash rewards quicker. Just remember to pay your credit card balance immediately. Set a reminder to do it and DO IT!
$99/ year annual fee after the first year.
The Citi AAdvantage Platinum Select was the second credit card that I added to my collection. I knew I would be traveling more across the ocean outside of USA and I wanted to earn rewards for it. This is a really attractive option for frequent travelers! My flight to Asia from USA assured that I would meet the requirements of spending $2,500 within 3 months to receive the 50,000 miles towards my account instantly (Those flights aren’t cheap!!). I later went on to use those 50,000+ miles to pay for hotel stays in different countries. I could also use my points for flights, rental cars and gift cards in some cases.
$99/ year annual fee after the first year.
The Delta Gold was the third credit card that I added to my collection. I knew I would be traveling to different countries now that I have a dog. Delta Airlines has been the best for me and my dog for flying so I got their credit card. I paid for the Gold card for 2 years until I decided to switch to Blue (no annual fee). I still earn miles with my Blue card but not as many as I did with Gold. I also learned the Delta Rewards shop was expensive. I used my 2 years worth of points on only 3 nights in a budget hotel in Amsterdam. I know Amsterdam is naturally expensive, but I also know from experience that there are better deals out there for my rewards points! I was able to stay in a palace Suite in Prague with my Platinum Select AA Credit Card Rewards! PALACE SUITE! As a bargain hunter, I realized I don’t get a good value for my points with my Delta Rewards. I still love flying with them though! They’re my favorite American airline! 😁
For a list and comparison of other Rewards Credit Cards, you can visit Cardonomics, US News, and Nerd Wallet to see other options that might appeal to you.
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