Description: The article is about costco citi visa login. The author wants to talk about how he uses credit cards and something about credit card companies. He would like to share one of his credit cards which is a city double cash credit card and tell us the reasons why he uses the card.
This is going to be a quick one, because I believe for work in a few minutes, but speaking of work, today is Friday which is my favorite day of the workweek, on top of that, it’s also payday, so it doesn’t get any better than that, but today I want to do a follow-up on my Greg talks debt video.
On the last video, I talked about my disdain for debt, but in that video, there’s one topic that I didn’t cover and that is credit card, so I want to do that here specifically, I want to talk about how I use credit cards and how I use credit card companies.
So I mentioned in the last video that I’m out of debt, I don’t believe in debt and I think it holds you back, but that doesn’t mean that I don’t use credit cards, I have one credit card in particular that I use and it is a city double cash card and the reason why I use that credit card and how I use it is that all of my purchases go on that card.
So Monday through Friday, Saturday, Sunday, every day that I buy something, I use that card for specific reason, the card gives you cash back specifically it gives you 1%, when you make a purchase that goes towards your account.
When you pay off that purchase, it gives you another percent, so you effectively get 2% back on everything that you buy, so what I do is that I use that credit card throughout the week for 14 days, so starting today, I will start using my credit card and I’ll use it until I get paid in two weeks from now which is going to be two Fridays from now.
Then I pay it off on that day, so I only use the credit card for two weeks, I pay it off every two weeks, so I do that and keep myself in check, I don’t like to get out of control with spending, so I think if I pay it off every two weeks, I can moderate more of them.
If I were to pay the credit card once a month, because I’ve done that in that month hits, how did I spend that much money in one month? So every two weeks, when I get paid, I pay it off and then that also gives me in gauges to how much money that I have leftover after I can be off to put into savings.
So I use that for my system, it’s not necessary to do that, but it works for me and then what I do is when I pay that credit card off every two weeks, once I get my statement, they generate the amount of money that I get back based on my purchases which is 2% of that.
Then I take that 2% that I get back and I put that into my checking account, they have the option that you can apply it to your statement or give yourself a credit on there. I have it put it on my checking accounts. so what I do is that I have city pay me to use their credit card, I don’t pay them any interest, I’ve never paid that penny, I never will.
But they pay me to use their credit card every month and I think that’s an awesome situation and another reason that I do the credit card situation instead using a debit card on top of the 2% is that I don’t have anything else on my credit report.
It’s important that if you ever want to get yourself into a position where you want to buy a house or if you want to buy a car and you need to take a loan out or an emergency happens, you need to take a loan people are going to look at your credit.
If you don’t have anything on there, that makes it very hard for them to make a decision as to whether you’re trustworthy or not, if you’re going to pay the loan back or not, so having this credit card on there gives it something each month that is reporting and showing up on there.
If you can get paid for using someone else’s money even for a short two-week period, why not do it? So I thought I would share that, I did, I made it sound like in my last video that I hate debt, I don’t believe in it, I don’t use it.
But I technically do use debt, I do it for a very short period of time and I get paid to do it, so thank you for your time. I think it’s like a financial Friday’s, what shall we call this? I’ll do one every two weeks where I talk about something that interests me, if you have any questions or if you want me to talk about a specific financial thing or issue or problem or if you have any question, let me know, thanks and we’ll see you tomorrow.