Thread by @FluentInFinance

Credit cards can save you thousands from:

• free insurance
• travel protections
• purchase protections
• raising your credit score
• reward points & cash back

Here are 5 credit cards everyone should own (and use responsibly) with NO annual fee:

1) The Chase Freedom Credit Card:

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

2) The American Express Blue Cash Credit Card:

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

3) The Costco Anywhere Credit Card:

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

4) The Capital One SavorOne Credit Card:

• $0 Annual Fee
• 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

5) The Dave Ramsey Credit Card (for people bad with credit cards):

• Automatically declined everywhere
• $0 Credit Limit

A) Credit Card "Hack":

If you have 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 and house hack — early on in life.

B) Tip to Increase Your Credit Score:

The easiest way to raise your credit score is by lowering your 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 (if you don't use it).

Use credit responsibly — Never charge anything you can't pay back in 30 days!

Always pay your credit cards in full — Never let credit card companies make a dollar off of you.

Credit cards offer many benefits that debit cards don't — rewards points & cash back are "free money".

What's your favorite credit card?

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