Credit cards can be a powerful wealth-building tool [Video]

All too often, credit cards are given a bad reputation. You might have heard a friend or family member say that opening a credit card was one of the worst financial decisions they made.

Don’t get me wrong, irresponsibly using a credit card or racking up a balance without properly understanding your interest terms is an awful idea that can land you in a lot of financial trouble. When used properly, though, credit cards can be a powerful wealth-building tool.

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By leveraging interest-free periods, choosing cards that reward your spending habits, and always paying balances in full, you can improve your financial health, grow your credit profile, and create new opportunities for yourself.

How credit cards can help build wealth

Last month, I wrote a column  debunking some of the most common credit score myths. One of these myths was that credit cards are inherently …