Hey, credit warriors! 🎙️ In this episode of "My Credit Sucks," we’re diving into the world of credit cards, highlighting the top 3 must-have cards for consumers with good credit and the top 2 cards for those with bad credit. But first, I share a gripping story about why using credit cards for everyday purchases is safer and smarter than using a debit card. Discover how a simple switch can protect your money and give you peace of mind. Tune in and learn which credit cards can help you maximize your benefits, protect your finances, and boost your credit score! 🚀💳
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Hey there, welcome to my credit sucks. The podcast where we dive deep into the wild world of credit, no gimmicks, just real talk with your credit coach, Rolando Castro from untangling credit. to sharing real life stories that'll have you nodding along and maybe even laughing out loud. We're here to demystify the credit game, one episode at a time.
So, whether you're itching to boost your score, navigate credit card chaos, or just want to feel a little less alone in your credit struggles, you're in the right place. Let's turn those credit woes into wins together. Stay tuned for the latest tips, tricks and tales on My Credit Sucks.
Welcome to episode number four of my credit sucks podcast. I am your host and credit expert, Rolando. And on today's show, I will be giving you my top three must have credit cards and why you should always carry them in your wallet or in your purse at all times. Now, these credit cards will be specifically for individuals that have a great FICO score, Tier 1, 720 or higher.
But what about my people with bad credit? Am I forgetting about you? No, no, no, not today because I too will be discussing the top, I only found two guys, credit cards that you should have with less than perfect credit. So grab your pen and paper. Because class is in session. Before we get started, I want to share a quick story with you.
There was a young individual with perfect credit. Let's call him Little John. I mean, this person never missed a payment. He had a perfect payment history. Nothing negative. And he had the privilege of being taught how credit works. And how it should be used in order to take advantage of the many benefits it offers.
But one thing they left out was that he needed to stop using his debit card once and for all and only focus on Using his credit card. So one day he was pumping gas and he used his debit card Of course, like most people do pump gas went home went about his business right before he fell asleep He received an email that said your bank account has been wiped clean.
Your balance is zero He immediately freaked out and couldn't dial the phone faster. He called the bank He couldn't speak to someone until the next day 6 a. m So just imagine how dreadful that night might have been not knowing that your bank account is at zero You can't do anything about it until the very next day.
So morning came 6 a. m He was on the phone with the bank and they confirmed that yes, it is fraud for now But he's gonna have to wait anywhere between 10 to 21 days before he gets his money back And until he supplies paperwork basically he needed to prove that it was not him now imagine Had he used a credit card instead the scenario would have been different because the bank or the creditor Would have sent them a text message an email saying there has been suspicious fraudulent activity on your account and for that reason We have temporarily blocked your credit card for use it until you confirm it is not you who made these transactions.
The moment he would have confirmed that it wasn't him, they would have reversed the fraud charges almost immediately. And John's personal funds would have been untouched. Now, this experience taught John a very valuable lesson. Using credit for everyday purchases isn't just about building credit. It's about protecting your own money.
You see with credit cards you have a buffer and you have added security. Let the bank fight the fraud for you Not you and if anything goes wrong with that credit card your money in your bank safe and sound Now the moral of the story is this the bank will always fight harder for their money and they will for your money Go figure right?
All right moving on. So let's discuss the top three credit cards I believe everyone should have in their wallet or purse Given that they have a great FICO score credit card. Number one Wells Fargo active cash This card gives you two percent cash back and a 200 cash bonus After spending check this out 500 within three months.
I think I spend 500 a week on groceries I'll be able to knock that out in a week. Give me my 200 cash bonus plus two percent cash back plus 15 Yes, one five 15 months 0 percent APR. That means you get to borrow that money and pay zero interest for 15 months. It's free money as long as you pay it back.
You put that card in the right person's hands, they will do unbelievable things with that card. Credit card number two, blue cash every day from American Express. Unlike every other Amex, they charge a yearly, uh, annual fee. This one has a zero annual fee for the first year, 95 for the second year after now with this one, you have to.
Spend 2, 000 within the first six months to earn a 200 statement credit, not cash credit. But why do I like this card is because you give 3 percent cash back at supermarkets, online and gas stations. Three percent on each of those categories. That is amazing. It adds up. Trust me Now my favorite is discover cash back The reason why I say it's my favorite is because it gives you five percent Cash back on everyday purchases.
Yes, you heard right five percent And here's the thing, here's what I like the most, is that whatever you accumulate in cash back rewards for that first year, Discover will match it dollar for dollar. Tell me that's not amazing. I mean, you're using your credit cards, might as well get paid for it, right? So if you save, if you accumulate a thousand dollars, it will match it dollar for dollar.
You'll be like Oprah at Christmas, everyone's getting a gift. Here's a word from one of our partners. Hey,
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So we just finished discussing the top three credit cards for individuals with great credit. Now, what about my people that have bad credit? I only found two credit cards. I tried doing research.
There's a lot of secure credit cards, but these are the two credit cards that do have rewards, cashback. So the first one is Capital One Quicksilver is 2 percent cashback. It's not a lot, but 2 percent adds up right on everyday purchases. And it doesn't have an annual fee. FICO scores all the way down to 580.
That's a pretty cool card two percent adds up on everyday purchases credit card. Number two is a capital one silver This one only offers one percent cash back on everyday purchases And no annual fee fico scores 580 There's a good thing about these two cards is they're not going to start you off with the high limit For the first six months as long as you make your payments on time They'll double your limit and then they'll increase it every year thereafter.
So they're good starter cards They're amazing cards. You get cash back And uh, the good thing is they don't have an annual fee. All right, so Today we discussed the top three credit cards that I recommend for individuals that have a great FICO score And the top two credit cards for individuals that have Less than perfect credit.
So here's the thing just because you were approved for a thousand dollar credit card or even a 20, 000 dollar credit card free of money 18 months 24 months just free zero percent apr chase has one of those It's not a license for you to go out and acquire debt What I mean by that is yes having credit cards is fun and dandy and if used well They open a lot of financial doors that of course will be closed with having back credit, but you got to be very mindful You We're using credit cards and I could personally tell you that I've used credit cards the wrong way.
And, you know, sometimes you feel a little sad or, you know, it's just kind of feel a little blue. And whenever you had a rough day, rough week, rough Monday, like, man, you know what? I feel like buying myself something nice because if I buy myself something nice, it'll make me feel better. And it's that instant gratification.
And it becomes a little bit of a habit and we start buying a bunch of crap that we don't need. And then we find ourselves. With the credit card that is maxed out and we're like, shoot 29 percent APR Even if I send the minimum payment 80 percent of it's going to interest and then you find yourself back against the wall You're like man, how did this happen?
So be very mindful when using credit cards only use whatever you can pay back Do not spend money you haven't earned yet and what I mean by that is going shopping thinking that you'll have enough where it'll be easy to pay back later because You'll It adds up. So please be very mindful when using your credit your family and your future is counting on you to make smart Decisions with your money.
Okay. So again guys, thank you so much for your time I truly hope the information shared with you today was both valuable and helpful And if you enjoyed the show, please don't forget to subscribe rate us leave us a review And please share this episode with your friends and family. It would try to help us reach as many people as we can As we possibly can organically and if you have a question about anything that I discussed on the show if you want to Disagree with me and tell me that you have better credit cards Um, i'm not saying that the credit cards that I suggested They are the best ones the ones that I use I and I like them because I like the rewards Okay, but if you have a credit question that you'd like for me to answer on the show Please shoot me an email at contact at my credit sucks Podcast.
com. And I always like to end the show with this. Take care of yourself, your health, and your credit. God bless you.
To whoever may need this nugget of encouragement, things will be all right. So put your word. I get it. The eyes can stack back against the wall, but even considering such no, you'll stand firm and watch from the sidelines. But too many times we get gas black, make me wonder. My mind found solitude