Thread by @FluentInFinance

Credit card points = passive income

Use credit cards to save thousands by earning reward points, cash back, travel rewards, free insurance, travel protection, purchase protection & to raise your credit score

Here are 7 credit cards everyone should own & use responsibly:

1) The Chase Freedom Credit Card:

• 5% cash back rotating categories each quarter
• 5% on travel
• 3% on dining & drugstores
• Trip delay or cancellation insurance
• $0 Annual Fee

2) The Capital One SavorOne Credit Card:

• 10% cash back on purchases made through Uber & Uber Eats
• 8% cash back on entertainment
• 5% cash back on hotels & rental cars
• 3% cash back on dining, entertainment, popular streaming services & grocery stores
• $0 Annual Fee

3) The American Express Blue Cash Credit Card:

• 3% Cash Back at U.S. supermarkets
• 3% Cash Back on U.S. online retail purchases
• 3% Cash Back at U.S. gas stations
• 1% cash back on all other purchases
• Purchase protection
• $0 Annual Fee

4) The Costco Anywhere Credit Card:

• 4% cash back on gas and EV charging
• 3% cash back on travel, hotel and rental cars through Costco Travel
• 3% on restaurants
• Travel accident insurance
• $0 Annual Fee (with Costco membership)

5) The Discover It Credit Card:

• 5% cash back on rotating categories each quarter
• 3% cash back on drugstore purchases & dining at restaurants
• 1% cash back on all other purchases
• $0 Annual Fee

6) The Citi Custom Cash Credit Card:

• 5% back on your top eligible spend category
• 1% cash back on all other purchases
• $0 Annual Fee

7) The Dave Ramsey Credit Card:

• $0 Credit Limit
• Automatically declined everywhere

A) Credit Card "Hack":

If you have a credit card & a child, add your child to the card as an authorized user, and pay your bills on time.

When your kid turns 18 they should have an 800+ credit score.

With great credit, they can get a rental property at 18.

B) Tip to Increase Your Credit Score:

The easiest way to raise your credit score is by lowering credit utilization.

You can boost your score by using less than 30% of your total credit line.

Asking for higher credit card limits can help with this.

C) Credit Score Importance:

A good credit score can help you qualify for a mortgage, car loan, or credit card with a low-interest rate, which can save you thousands of dollars in the long run.

It can also make it easier to rent an apartment or open a new utility account.

D) I love using credit cards due to the benefits associated with them.

I always pay my credit card balances off in full each month, so credit cards are an asset and not a liability for me.

My rule is I never spend what I cannot pay off in 30 days.

E) If you pay credit cards on time & in full, rewards points and cash back is "free money".

Use credit responsibly! Do not charge anything you cannot pay off in 30 days!

Compounding credit card debt is one of the worst things in the world.

Credit cards have a TON of benefits & value that debit cards do not. These threads take time to write, so if you found it helpful, please:

• RT the FIRST tweet to share it🔁
• Follow me @FluentInFinance for more
• Sign-up for my FREE newsletter: TheMoneyNewsletter.com!