26/04/2024
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HOW TO MAXIMIZE CREDIT Cards
If youβre a member of Kaskasan Buddies, youβll know how will CCs can help you build your business and most importantly how it can help you achieve your goals.
Ha? Paano makakatulong sakin yung CC para makuha ko yung goal ko eh utang yan?
Most of people believed na masama ang credit card, not knowing magiging masama lang ito kung ikaw mismo hindi alam paano ito gamitin.
I always advise my friends, if you already have a credit card, hold on to that and use it more more than your debit card. If takot ka, use the credit card then pay it off agad using your debit.
May isang nakapagsabi sakin na client ko
βAlam mo Yen, hindi mo kailangan ipunin yung business na gusto mo para matayo mo ito. Ang kailangan mo lang, magandang credit standing para pera na ng banko ang gagamitin moβ
Nung una hindi ko ito gets. But when I researched about it. Naintindihan ko na.
There are Good debt and Bad debt.
Good debt, ito yung inutang natin, pero yung utang na yon can create additional income stream sayo.
For example, umutang ka sa banko ng 100k payable in 12mos with 1% interest monthly. Ang babayaran mo sa banko say 9.5k montly.
Yung 100k na inutang mo, tinayo mo ng Milk Tea Shop (kunyari lang) na nagbibigay ng 30k monthly income sayo.
Ibig sabihin,
9.5k monthly ang binabayaran mo sa banko, pero 30k ang kinikita mo. Meaning kumita ka ng 20.5k additional in a month. Ito ay Good Debt.
(Disclaimer: Ito ay sample lamang. Always do your due diligence and risk analysis bago kayo sumabak sa business)
While ang bad debt, ito yung mga inutang natin na alam nating walang balik sa atin $$$. Kunyari, umutang ka pang pambili ng gadget or phone na gusto natin. Ito ay Bad debt. In short, utang na walang balik.
Napakaraming uses ng Credit Cards. I build mine for almost 9years. Malayo na pero malayo pa.
If you already have 1 card, apply for another after a year. Build your credit score, build your credit limit.
Caveat βΊοΈ
Ps. Hindi rin ako basta basta nagaapply pag wala ako makukuha. π
Apply to those have a great promo. Then pag nakita mo na wala siya use, either keep it for CL or cancel it, atleast you get their promotion. π
Credits: Anne May Teves