8 responses

  1. Luis Narvaez
    November 29, 2012

    When I was a kid I remember that my grandmother used to say that good credit was more important that having money in your pockets. Having excellent credit is the most important lesson she ever taught me.

    It still puzzles me that many people destroy their credit over buying things that are really not necessary. I think it is sad to see people buy assets that depreciate in value using credit with APY higher than 14%. This is financial suicide. I use credit only for emergencies or to buy things that can make me money like stocks, bonds and even websites if I find a good deal. My credit is excellent. I get approved for mostly everything I apply to.

    • Dominique Brown
      November 29, 2012

      You grandmother was very wise. However, why do you only use your credit card for emergencies? You seem like you got your stuff together and can take advantage of rewards points by sticking to your budget and using your credit card for everything.

      • Luis Narvaez
        December 1, 2012

        Hi Dominique thanks for the reply. Currently I do not have rewards or cash back card because incomes in Puerto Rico tend to be on the low side. My bank offers a rewards program for the card I have but it costs like $2 a month. I am waiting to cut down this card’s balance because I used it to buy some investments. I know it is not too wise to invest on credit but the bank offered a 0% APY for one whole year and I took advantage of the offer. I am currently using dividends and other gains on my investments to pay down the card and keep the difference before interests return to their usual double digit rates. After I finish this operations I am considering using the card for daily expenses and paying in full each month to earn some gift cards that can earn me cash backs in Upromise.com for shopping using their affiliate links. That site returns around 10% on some stores if your shop on Tuesdays. A person with Sallie Mae student loans can send those cash backs directly to any loan that is financed by Sallie Mae to help pay down debt which I think is amazing for people that are struggling with student loans issued by this company.

  2. Dominique Brown
    November 27, 2012


    I hope the advice helps a lot of people. I know for a fact that I needed something like this when I was trying to repair credit.

  3. @lovedeez
    September 18, 2012

    Love this video! Straight to the point. Thanks!

    • URFinanceSimple
      September 18, 2012

      I appreciate the comment. Don't forget to subscribe. I break down a other piece to the credit mystery puzzle.

Back to top
mobile desktop