7 things You didn’t know about Credit Cards

Credit cards are an integral part of modern financial life, yet many cardholders are unaware of the full potential and hidden intricacies of these versatile tools. From boosting your credit score to unexpected travel perks, understanding these facets can lead to more informed and beneficial use of credit cards. Here are seven things you didn’t know about credit cards that can help you make smarter financial decisions.

7 things You didn't know about Credit Cards
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The seven mastery levels of credit card usage

There are many ways to use a credit card, probably as many ways as there are people using credit cards. And, just as there are no two people created equal, there are no two equal ways to use a card. We can’t really talk about each of those in detail so I just created this super-clever 7-level classification in the progressive mastery of credit card usage.

I ordered the seven levels by their increasing level of mastery, but not in the order people would go through them. Obviously, everyone will start at the “average” level (the third level in my arbitrary system). In a way, everyone has a shot at using credit cards in a clever way. From there, one would either go down to one of the first two levels (the “bad” ones) or up to one of the top four levels (the “good” ones).

credit card usage
credit card usage

So here are the seven levels:

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The Millionaire next door (book review)

I finally finished reading “The Millionaire Next Door” by Thomas Stanley and William Danko. Early this summer at a garage sale in my neighborhood I got a copy  of the first original edition from 1996:

And I say “finally finished” because it was hard to go through it, I was a bit disappointed but I still got a few good things out of it (details towards the end). Continue reading “The Millionaire next door (book review)”