Just to clarify what I was saying in the video - It’s impo..

Just to clarify what I was saying in the video - It’s important to know the many, many ways the credit card companies actively try to fuck you up. One of the ways they do is by fucking around with how they charge you interest. As I explained in this video, if you DO NOT CARRY A BALANCE! - Maybe I should do that weird shouty thing - iF yOu Do nOT CaRrY a BaLAnCe!!!! - meaning you pay off your full balance every single month, on time, and zero out what you owe them, you will have this 55 day grace period forever and ever and you will annoy the hell out of them. I know, I’ve done it for years, they hate me. HOWEVER And yes, I’ve done this too - if you can’t pay off your full balance one month, if you can only make a partial payment (even if you pay $195.00 of a $200.00 bill), these lovely people start CHARGING INTEREST FROM THE DAY YOU PURCHASE THINGS FROM THAT POINT ON. I hope you’re understanding the gravity of this situation. Math ain’t my bag, baby, but even I can see how devastating this can be if it goes on too long. Normally you get nearly two months before interest starts being applied - and let’s be clear, we’re not talking the lousy 0.5% you’d be lucky to get on your savings account, no I’m talking the heavy artillery, the massive 22-29% LOAN SHARK type rates the banks can charge you and somehow still look you in the face. But if you don’t pay off your bill, they wipe out that grace period and start charging you interest right away. And credit cards may vary slightly on this, but most of them (that I know of) have this little rule (provided ever so helpfully in the ‘terms’ brochure that no one ever reads) that you have to pay off your whole entire bill TWO MONTHS IN A ROW to go back to the grace period thing. This adds up really quick, keeps in you a cycle of constant debt for a long time, and absolutely RIPS YOU OFF to the tune of (sometimes) as much as $29% on top of what you spent. So please please please understand this - it is VITAL that you have at least one credit card that has a zero balance, and that you do not plan to carry a balance on. Use this one for your every day purchases, or big purchases that you’d like a 55 day interest free loan on. Pay this one off every single month, even if you have to borrow from lines of credit or other lower interest options to do it. This way, you’ll have nearly two months to pay off what you bought and the credit card companies won’t take their pound of flesh. As I said in the video, the whole ‘balance transfer’ thing is a huge issue as well, so do that carefully if you’re looking into that. I’ll do another video on that if you’re interested. ❤️