Do you want to know how credit cards helped us to reach our financial freedom in a new country? 

I know. Credit cards are scary because of their relationship to debt. But actually, using credit cards can be very beneficial if you want to establish a solid foundation in your new country. Why? Because credit cards help you create a financial history so in the future you can buy your dream home, start a business, etc.

And if you are like us and immigrated to this country in your mid 20s, 30s, or more… you really need to create an excellent credit history fast so you can build that dreamed life you have in mind before you get too old and tired to achieve it. 

Your credit history will show the bank if you are responsible enough to commit to a big debt like a mortgage… they will check your level of debt, if you pay it consistently, if you carry a balance every month, etc. So with this information, they will define how risky you are for them. If you have too much debt and you skip payments, you will be very risky for them so they might not give you any mortgage or if they do, it will be with a very high-interest rate.

The credit history is rated with a score, so the more responsible you are with your credit, the higher the score, the higher the chances to get a mortgage and the lower interest rate you will pay.
So how can you get a high score?
  1. You have to have self-discipline. If you can’t control your spending habits, you will quickly ruin your score and your life. So if you don’t think you can control yourself, you better don’t even try to get a credit card because you will only dig a financial hole that will not benefit anybody. But don’t worry, self-discipline is a habit, so if you need help developing this habit we have a FREE course for you, you just need to click the link below.
  2. Spend less than what you earn every month. This is very important because if you go over your monthly income, it means that you will carry a balance and even if this balance stays there for only a couple of months it will lower your score.
  3. Pay the full amount of your credit card every month and before the due date. That’s how you show the bank that you are committed and responsible. So make sure you create a good impression by paying the full amount of your cards religiously every month. 


And that’s it! Simple right?... So why do people get so in debt? Because they haven’t developed SELF-DISCIPLINE so they end up overspending, getting tempted to buy stuff they can’t afford and losing control on their payments. So if you think you need to work on your self-discipline we invite you to watch this video over here WHAT IS SELF-DISCIPLINE - AND HOW CAN I PRACTICE IT

Also, if you are married, we recommend you get one credit card for each of you and pay half of the bills with one credit card and the other half with the other one, so you both develop a strong credit history at the same time.

I hope this information was helpful. And don’t forget to get your FREE COURSE where you can learn how to control your spending habits so you can spend your money on the things that really matter to you.

Keep crashing your money goals, and we will see you next time!

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