Dollars & Sense: How to use a credit card to your advantage
NORTH TEXAS (CBSNewsTexas.com) — If you're not careful, credit cards can get you into a lot of trouble.
Americans' credit card debt surpassed $1 trillion for the first time ever in the second quarter of this year. And Texans had the second-highest increase in credit card debt, with Texans accumulating nearly $4 billion more from the first to second quarter of the year
Keith Russell recently shared his journey rebuilding his credit in his younger days. During that process, a credit counseling service took away his credit cards.
That was years ago, and now that Keith has good credit, he uses his cards to his advantage.
Here are a few tips he has for you to do the same:
- Choose a card with no annual fee
- Look for one with perks
- Some cards even have cash back rewards
- Many offer 0% interest for balance transfers
Hear more advice from Keith in the video player above.
Every week, CBS News Texas anchor Keith Russell tackles a personal finance segment in his Dollars & Sense segment. Watch it every Wednesday on CBS News Texas at 7 p.m. on TXA 21.
Here are some topics Keith has recently covered: