Most of the ads I see on Facebook are ones encouraging me to apply for more credit cards. Using the power of the “internet cookie,” Facebook knows that I’m a credit card fiend, and I crave the latest and greatest card with the best rewards program. You see, at the ripe old age of 22, I keep 16 credit cards open. Yes, SIXTEEN.

Which makes me either:

1. A complete idiot for opening 16 credit cards who is probably rolling in tons and tons of credit card debt that will absolutely wreak havoc on my life. Goodbye future dream home, future retirement, and my credit score. (PS – You should read about how having a good credit score is good for you at this link)


2. Someone who knows how credit cards work and how to use them to your advantage.

Hopefully, I can convince you that it’s #2, but if you think it’s #1, you probably shouldn’t be reading my advice on personal finance right now. But before I teach you about its advantages, let’s first talk about how they work and why having credit card debt is bad. My goal with this article is to help minimize your contribution to the almost $1,000,000,000,000 in credit card debt in the United States. The average American should not have over $6,000 in credit card debt.

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