Video: Using Credit Cards the Right Way

The Budgetnista explains how Credit Cards could be helpful or harmful in this Exclusive MoneyTips video

Tiffany Aliche
MoneyTips Contributor

Borrowing Credit Cards

May 25, 2016

Would you take out a loan for burger and fries? That's exactly what you're doing when you pay with plastic at a fast food joint, explains Tiffany Aliche. The Budgetnista (@TheBudgetnista) reveals the right way to use credit cards in this exclusive MoneyTips video.

If you want more credit, check out MoneyTips' list of credit card offers.

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Carla | 05.25.16 @ 23:02
I only pay cash at fast food joints. My husband sometimes uses our debit card. Our credit card is emergency only. Thanks for the tips.
Steffanie | 05.25.16 @ 23:03
Some really great tips here. Definitely need to think twice before you swipe that credit card. We try not to spend more than we have in our accounts to keep debt from piling up.
Nancy | 05.25.16 @ 23:07
These are some really important tips. Having learned the hard way when I was younger, I wish I had seen this back then.
Erin | 05.25.16 @ 23:09
We use our credit card for just about everything so we can easily track our spending. We also make sure to pay it off every month as well so we don't get hit with huge fees.
Heather | 05.25.16 @ 23:12
I hardly ever use my credit card. I have it for emergencies only. I usually do swipe my debit card for every thing though.
Beverly | 05.25.16 @ 23:26
Great video. Personally, I think Credit Cards are only good if you can pay them off every month because then it is basically a 0% interest loan. If you can't pay it off at the end of the month then you end up paying more for your items. Credit cards are a slippery slope.
Jo Ann | 05.25.16 @ 23:46
Thank goodness I don't have credit cards. It would be too great of temptation to overspend when I didn't have the cash to pay for something. These are great tips for people who do have cards. I hope they use the tips.
Kamie | 05.25.16 @ 23:50
This is something I think all people need to understand about how credit cards work. You are technically taking out a loan for that fast food, or even for some gum. So, in reality it can cost you 10x as much. Credit cards need to be used more wisely.
Selena | 05.25.16 @ 23:51
My parents taught me a lot about being responsible with a credit completely and totally ruining their own credit. My father always saw it as having a means of getting instant gratification, and was constantly charging things on it, whether we needed the stuff or not. I only use credit when I'm in dire need.
Jane | 05.25.16 @ 23:51
I have a strict budget, and I have credit cards and use them to my advantage. I get points on purchases, sometimes up to 5% or even more cash back on what I charge. I keep track of my allotted budget a couple of times a week, and I'm one of those people who doe charge a fast food restaurant purchase, if it's within my budget and I'm getting a deal (using coupons). Since that was budgeted, I can always pay off all my credit cards in full each month. It takes a lot of willpower to not charge things that can't fit in my budget, but it's worth it. I end up redeeming hundreds of dollars of gift cards each year with my personal strategy.
Lee | 06.04.16 @ 16:41
I use credit cards for every purchase possible to earn airline miles and hotel points. These miles and points allows my family of 4 to travel the world for close to $0. But, I only purchase what I can pay off each month so that I don't get charged any interest. That's the key with miles and points, never carry a balance or pay interest. The benefits are not worth paying any interest.
jeff.hart | 06.04.16 @ 17:25
Jeff -- Instead of using credit cards, use cash and only spend what you actually have. If you don't have the money to spend on it, you probably should be buying it, whether it's fast food, car, house, etc. Credit and debt or the two main reasons the country has financial problems. Live within your means and you never have to worry about it. Cash is King. Debt is for financial losers.
$commenter.renderDisplayableName() | 12.02.20 @ 15:32