Leveraging Credit Cards
Donald M. Fink has over 40 years’ experience in helping clients with investments and increasing their retirement portfolio.Credit cards are very important in today’s economy. They allow you to make purchases now even if you are getting paid in a few days, they also have their own warranty and offer rewards. However, credit cards can also harm your finances and bring a lot of stress into your life due to the high interest rates that are charged on it and for some people, a lack of self-control when using it. Due to all the different perks and types of credit cards there are these days, you should do your research to know which one is right for you.
A few different perks that are common for credit cards are 0% transfer balances for those with a high balance and are trying to pay it off and deals for the college student who is trying to build their credit with some perks as well.
Which balance transfer card should I choose?
There are many balance transfer cards to choose out there but you want to compare and see which one provides the most benefit. The Chase Slate Visa card is the best one out right now and provides more than just a 0% interest rate on balance transfers for 15 months, it also gives you a $0 introductory balance transfer fee. The 0% interest rate also expands to purchases for the first 15 months, so basically you are paying no interest on anything for 15 months.
Which student card is best for me?
Student credit cards all depend on what the student wants or what their interests are, because they are just starting out and building their credit. For the student who goes out a lot to restaurants, events and movies, the Citi ThankYou® Preferred Card for College Students would be the best way to go. You receive 2 points for dining and entertainment and 1 point for everything else. For the student looking to build their credit and only use their credit card for certain items such as gas or emergencies U.S. Bank Secured Visa® Card is the best one. With an initial deposit, which is put into an interest earnings savings account, you can start building your credit and increase your card limit after 12 months of good standing.
At the Advisory Co, we have an impeccable record of providing sound financial advice to our clients. Call us today at 702-869-1919 and let us get you setup with a retirement expert.
Donald M Fink has been advising and helping high income individuals and business owners with strategies for over 40 years. He continues to consult with private clients in the areas of estate planning, wealth management and asset preservation and to this day maintains Life & Qualifying membership and Honor Roll status in the Million Dollar Round Table (MDRT).