1142: [Part 1] How to Rebuild your Credit (using credit cards WISELY) by Ramit Sethi of I Will Teach You To Be Rich

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🗓️ 25 April 2020

⏱️ 9 minutes

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Summary

Ramit Sethi of I Will Teach You to be Rich shares how to rebuild your credit using credit cards wisely. This is part 1 of 2. Episode 1142: [Part 1] How to Rebuild your Credit (using credit cards WISELY) by Ramit Sethi of I Will Teach You To Be Rich Ramit wants to use money to say YES. He knew there was a better way to live a rich life—if we could use psychology to focus on what actually works. Not just for personal finance, but all aspects of life: money, careers, relationships, business, fitness, and more. Since then, he's been testing and sharing his findings with the world via I Will Teach You To Be Rich. He's also written a New York Times bestselling book, been profiled in a 6-page Fortune article, and been pictured next to Warren Buffett in Forbes Magazine, as well as been featured by a long list of media, including the Wall Street Journal, ABC News, NPR, Fox Business, PBS, CNBC, and more. He also has tons of documented success stories—more than 20,000. The original post is located here: https://www.iwillteachyoutoberich.com/blog/credit-cards-to-rebuild-credit/ Visit Me Online at OLDPodcast.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is where I'm
0:02.0	1142.
0:03.0	How to rebuild your credit using credit cards wisely.
0:07.0	Part 1, by Ramit Saiti of I Will Teach You to Be Rich.
0:10.0	com. And I'm Dan, I'm your host, and this is where I read to you from some of the best blogs on personal finance, every single day, including weekends and holidays.
0:18.0	And we actually have five shows where we do that, and each covers different topics topics so you can search for optimal living
0:23.9	daily wherever you're hearing this to find all five of our podcasts. But for now
0:28.1	let's get right to it and continue optimizing your life. your I will teach you to be rich.com.
0:43.0	Credit cards are convenient enemies.
0:45.0	Almost everyone has a bad story about late fees, unauthorized charges or overspending.
0:50.0	Not surprisingly, many pundits and parents have a knee-jerk reaction to credit cards.
0:56.0	Using credit cards is the worst financial decision you can make, they shout.
0:59.7	Cut them all up!
1:01.0	What an easy battle cry for people who want simple solutions and don't realize the benefits of
1:05.4	multiple sources of credit. But from one perspective, credit cards are like a delightful gift
1:10.2	from heaven. If you pay your bill on time, they're actually a free short term
1:14.0	alone. They help you keep track of your spending much more easily than cash.
1:17.5	They let you download your transaction history for free. Most offer free warranty
1:22.4	extensions on your purchases and free rental car insurance.
1:25.0	But unfortunately, there's more to them than that.
1:28.0	The truth about credit cards lies somewhere between these two extremes.
1:32.0	As long as you manage them well, they're worth having.
	...

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