CREDIT Cards 💳 Pros & Cons - Personal Finance

Video Description

𝙉𝙀𝙒 𝙨𝙚𝙧𝙞𝙚𝙨 😎 𝙎𝙐𝘽𝙎𝘾𝙍𝙄𝘽𝙀! http://bit.ly/SocraticaSubscribe Socratica Presents SMART MONEY Many people are embarrassed that they aren't great with money. We believe it's never to late to learn! We're all about Lifelong Learning here at Socratica, and we are here to help you increase your Financial Literacy. The theme of SMART MONEY is making informed choices. It's easy to overspend when you have a credit card, or even go into debt. In this video, we discuss how you can be smart about using credit cards as a financial tool to manage your money. It starts with understanding the pros and cons. Some of the CONS include having to pay interest, fees and penalties, and the increased risk of going into debt. But there are some reas PROS to using credit cards as well! These include great convenience and safety. You don't have to carry around huge wads of cash, and even if someone uses your card fraudulently, you are protected by credit card insurance so you don't have to pay the false charges. It's also a way to build your credit history. If, after weighing the pros and cons, you decide to apply for a card, we'll talk about what that process involves. And then once you have a credit card, what you can expect every month from your statement and the billing cycle. One important piece of advice we hope you will take is that it really helps your financial health if you don't make just the minimum payment on your credit card balance. To Learn MORE about this idea, you can visit a special short exercise for you to see the numbers. It's available here on our website (socratica.com): LINK COMING SOON 𝙅𝙪𝙢𝙥 𝙩𝙤 𝙩𝙝𝙚 𝙙𝙞𝙛𝙛𝙚𝙧𝙚𝙣𝙩 𝙩𝙤𝙥𝙞𝙘𝙨 𝙝𝙚𝙧𝙚: 0:00 When you decide to use credit 1:46 What are credit cards 2:40 Cons - Interest 3:30 Cons - Debt 4:22 Cons - Fees, Penalties 5:15 Pros - Credit History 6:00 Pros - Convenience & Safety 6:37 What about Privacy? 7:00 Pros - Rewards 7:38 Pros - Emergencies 8:19 Why Businesses want you to use credit 9:37 Marketing strategies promoting credit 10:45 Applying for a credit card 12:48 Your Statement & Billing Cycle 𝙒𝘼𝙏𝘾𝙃 𝙉𝙀𝙓𝙏: Setting Financial Goals https://youtu.be/iqQlrF5-IJg 𝙒𝙀 𝙍𝙀𝘾𝙊𝙈𝙈𝙀𝙉𝘿: Wealth Made Easy (advice from Millionaires & Billionaires) https://amzn.to/3yczvSb Budget Planner & Monthly Bill Organizer https://amzn.to/3WOXoZr To continue receiving good advice about personal finance, subscribe to Socratica: http://bit.ly/SocraticaSubscribe Support Socratica on Patreon: https://www.patreon.com/socratica This video series is made possible by the generous support of our Patrons on Patreon. We'd like to recognize our VIP Patrons and send them our sincere thanks! Thomas Myers, KW, M Andrews, Jim Woodworth, Marcos Silva, Christopher Kemsley, Eric Eccleston, Jeremy Shimanek, Michael Shebanow, Kevin B, John Krawiec, Umar Khan, and the wonderful Tracy Karin Prell! Written and Produced by Kimberly Hatch Harrison and Michael Lee Harrison Edited by Megi Shuke #creditcard #personalfinance #smartmoney