Credit cards play a major role in business.

When starting your own business credit cards help you pay for what you need right now vs waiting until you actually make enough money to pay for it. Now, this is a dangerous game, the credit card game, to be playing but with my help and the help of your financial pro’s you should be able to pass GO and collect $200.

Here are just a few of my secrets to successfully managing my credit.

  1. Paying annually for a credit card
    • Unless you travel a lot, don’t pay for a credit card. Why pay for something when you can get a million other ones for free?
  2. Not reading the fine print and marking the calendar
    • What’s the APR % after your 0% interest ends? Did you mark your calendar so you can pay off that card before that day
  3. Applying for a card that doesn’t reward you
    • Why would you sign up for just any card when you can research and sign up for a rewards card that pays you back?
  4. Applying for a card for small potatoes
    • While a few $100 to a $1,000 can be a lot if you can try to avoid opening a new card for this little amount. Try saving it for large purchases so you can take full advantage of that 0% interest.
  5. Not doing the math
    • Yes, those balance transfers sound so good and could really help you out, but have you run the numbers? Understand you need to do some simple math here to decide if it’s in your favor or not to move a balance from one card to another
  6. Not knowing the APR 
    • If you don’t know the APR’s for all your cards then you are in trouble. Write down somewhere you can reference frequently all your cards and their APR’s
  7. Not prioritizing paying off your debt
    • For those who have multiple cards with balances on them, you have to prioritize. Prioritize which cards have the highest APR’s and focus on paying those off first while making the minimum payment on the others

7 of the BIGGEST credit card mistakes I see people making Click To Tweet

Trust me, I’ve been tempted many times to apply for many credit cards as I watched the offers come in. I finally decided to apply for one given the offer and the upcoming expenses.

I held out though until I finally decided to apply for one given the offer they had and the upcoming expenses I needed to pay. It took me months before I actually applied though as I wanted to wait until I really needed it.


The credit card offer?

15-months of no interest plus $200 back when I spend $1,000 in the first 90-days. Add my LLC payment and estimated taxes bam! I pass go and collect $200 back. That’s why I say, it pays to do your research and wait for the right time.

Play wisely and you will come out on top. Play carelessly and you may lose it all. Click To Tweet

My final bit of advice:

Play wisely and you will come out on top. Play carelessly and you may lose it all.

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