591-Friday Q&A (Credit Card Edition): New Cards, Refinancing Mortgages, and Credit Freezes
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 12 October 2018
⏱️ 49 minutes
🧾️ Download transcript
Summary
Today we tackle:
- How do I get new credit cards when I've already maxed out my limits?
- Should I refinance my mortgage over onto my credit cards so I can drop Private Mortgage Insurance?
- How should I handle a credit freeze on my accounts?
Remember, go buy the credit card course this weekend. It's at www.radicalpersonalfinance.com/creditcardcourse and you can save $10 with promo code CREDITCARDTEN.
Joshua
Transcript
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| 0:00.0 | So, the Animal Medical Personal Finance, we do live Q&A again on the subject of credit cards and credit card |
| 0:06.0 | debt. Welcome to Radical Personal Finance, a show dedicated providing you with the knowledge, |
| 0:25.8 | skills, insight and encouragement you need to live a rich and meaningful life now |
| 0:30.0 | while building a plan for financial freedom in 10 years or less. |
| 0:33.0 | My name is Joshua, I am your host, and today we do live Q&A, today with some students of mine |
| 0:38.1 | in my most recent credit card course, how to borrow money safely and never pay interest |
| 0:42.4 | using credit cards. |
| 0:44.0 | It's going to be technical, but I think you'll learn something if you stay put. All this week and also a couple of shows last week we have been discussing the topic of credit cards |
| 1:00.1 | and we've been doing it in probably what's a fairly unusual way in the personal finance space. |
| 1:06.0 | We've been doing it in a very technical way. |
| 1:08.8 | Now I have some presuppositions and basically I can list them very simply for you. |
| 1:13.0 | One, I don't want you to be in debt. |
| 1:15.0 | I don't want you to borrow money because I want you to experience maximum freedom and minimum cost. |
| 1:19.0 | Two, I acknowledge that there are times in life where it makes sense to go into debt either because of past decisions |
| 1:25.0 | you may just already be there or because of some very compelling circumstances that you've decided |
| 1:30.4 | make sense to go into a debt and I I believe you're an adult. Your moral |
| 1:33.8 | obligation is to pay the debt. How you actually do that, that's up to you. But I also |
| 1:37.9 | believe that credit cards can be a very valuable way of actually borrowing |
| 1:42.4 | the money and they're often just beat |
| 1:44.3 | upon by people who don't understand the system. Now the concepts that we've been |
| 1:48.2 | discussing are not entry-level concepts. My goal and my hope with even the course that I've launched is to take you up a level where you don't look at a credit card as a simplistic single source of findings and but rather you understand the credit card system, how it works, and how it can serve you. |
| 2:06.0 | And so we talk a lot about credit card debt, and hopefully it's coming through that I want |
... |
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