DON’T Leave Money on the Table: How To Find The Right Credit Card (and Perks!) For You (Listener Intervention)

A caller shares her personal struggles with the financial system and how the deficiency of financial education and unbiased informational resources has left her grappling with debt and uncertainty.

The caller feels the financial system is lacking in clear, impartial information and guidance to help her make the best financial decisions.

The caller reveals that she was never taught personal finance skills growing up and learned about managing money through negative experiences, like being burdened with debt from earlier in her life. She is critical of the dearth of available resources that provide practical and beneficial information without the ulterior motive of selling a product, which has exacerbated her difficulties in navigating financial matters.

Lack of basic financial education

She tells of having to leave college due to a lack of knowledge about financial aid and grants, and her overwhelming debt from college, reflecting the systemic failure to impart financial literacy. Moreover, she had to work excessively to compensate for her lack of financial understanding.

Growing up in a household that didn't discuss money management, prioritization of spending, or financial planning has had a long-term impact on her ability to manage finances, she recounts. Her parents' reliance on cash and conservative financial attitudes also didn't equip her with the knowledge to engage in or understand more complex financial endeavors, such as investing in the stock market.

Experiences with credit and debt

The caller voices her struggle with credit card debt, indicating a lack of early education on credit use. She has been looking for helpful financial resources but finds that often the information available is tied to someone trying to sell her something rather than genuinely aiding her financial understanding.

The caller's ventures into credit cards have been fraught with challenges. She recounts having to cancel her first credit card due to unfavorable terms, such as a high APR, and the company's unwillingness to negotiate. This lack of understanding on what constitutes a fair credit agreement has left her hesitant and unsure o ...

This article profiles the journey of a caller who overcame significant financial setbacks and provides a look into how past financial troubles can have long-lasting impacts.

The caller has faced significant financial setbacks in the past, including being stuck with debt from a previous relationship that damaged her credit score.

The caller's financial struggles began when she was burdened with debt from a joint credit card after her partner removed his name, leaving her solely responsible. This led to her dropping out of school and working multiple jobs to tackle the high-interest debt. Despite these challenges, her entrepreneurial spirit led her to start a small business. This venture was a turning point, allowing her to pay off the $25,000 debt over eight years and also save enough money to return to school.

Her credit score, which plummeted to around 590 during her breakup, serves as a stark reminder of the difficulties she faced. Additionally, having little savings at the time heightened her anxiety about her financial stability, particularly concerning her ability to rent a place due to her low credit score.

Despite the progress the caller has made, she still feels the lingering effects of her past financial troubles and the lack of financial education growing up.

The shadow of her financial past still looms large for the caller. She describes her financial health as "medium," an indicator of the considerable effort she puts into rebuilding her stability. This is evidenced by her diligence in monitoring her credit score, checking it roughly once a week – a practice she admits may be excessive but stems from a ...

During a discussion about credit cards, a caller expresses her desire to find a card with meaningful rewards that align with her spending habits and financial goals, while Nicole Lapin introduces a tool that could assist the caller in her search.

The caller wants to find a credit card that provides meaningful rewards and benefits that align with her spending habits and financial goals.

The caller has tried various credit cards, but she feels that they have not provided the level of value and perks she is seeking. She has several cards from American Express that offer great perks for specific shops and restaurants, which are not always useful to her. Additionally, she has Chase cards for travel points but often misses out on promotional points due to not activating them. She's also cancelled cards, like one that offered points towards purchases at Barnes and Noble, that had high APRs and poor credit limits. The caller is particularly interested in finding a cash-back credit card that maximizes rewards without high annual fees.

The caller is hesitant to apply for new credit cards due to concerns about being denied and the potential impact on her credit score.

The caller has experienced denials in the past, which contributes to her anxiety about the application process and concerns over her creditworthiness. She fears rejection when applying for new credit cards and is concerned about the negative impact of hard credit checks on her score of 704. Nicole Lapi ...