1. Credit Cards
Consumer Math

2. A Case for Cards
One of the fastest and most concrete ways to improve Credit Score
Free Short Term Loan
Credit card companies often offer bonuses and points for use
If paid off at the end
of every month, they
can work for you!

3. The Dark Side Interest Rates are sneaky dangerous
Assuming 14% interest and 4% min payment
Instead of paying off a $10,000 sofa for 13 years, if you’d invested the same amount and earned 8%, it would’ve turned into about $27,000!

4. The Dark Side
Interest Rates
Late Fees
Convenient

5. Getting a New Card NOT the ones in the mail Secured Credit Card
Out of every thousand students who are mailed offers, 150 accept them, an astonishingly high number.
Secured Credit Card
Without income; Through the bank
Compare Cards Online
Bankrate.com

6. Getting a New Card Avoid Cash-back rewards Rewards are important
Often less valuable than flights, etc.
Rewards are important
Find one that gives you something valuable
If you don’t travel don’t earn flights
Don’t go crazy
Between 2-3 cards; Take it slow

7. The 6 Commandments Pay it off quickly Do NOT make a late payment
Payment history is 35% of credit score

8. The 6 Commandments Get all Fees Waived
Call and ask to have the fee waived
Be persistent
Have the attitude that it will be waived

9. The 6 Commandments Negotiate a lower APR Keep your credit card active
Should not matter if payments are made
Keep your credit card active
Use it once every three months
History improves credit score
Get more Credit
Use your rewards

10. Things to Avoid Avoid Closing Costs
Manage Debt to avoid damaging Credit Score
Think ahead before closing accounts
More credit is better when applying for loans
Don’t play the “0% Transfer” game
Don’t get suckered by “Apply Now”
Avoid paying for the group and pocketing the cash

11. Paying It Off

12. References
Resources:
Bankrate.com
Dinkytown.net