No one NEEDS a credit card to build credit. I haven’t had a CC in over 23 years. CC issuers have been running this scam for years and years. A savings account is a better indication of your ability to manage your finances that a bunch of credit cards. With a credit card, you are BUYING a credit profile. With a savings account, you are EARNING a credit profile. But they don’t care about your ability to save money. They care about your ability to spend money. They want their card holders to get into as much debt as possible so they can make as much money (interest) as possible for the CEO and stockholders. They couldn’t care less about their customer’s financial burdens or how the CC issuer got them into that situation. The important thing is that it takes individual responsibility to keep that from happening.

CC issuers know human nature. Humans are impatient, forgetful, egotistical status seeking animals, greedy, and not very smart at financial matters. Humans can’t wait to buy something that will make them feel good, regardless of the cost. They’ll forget to make the payment, incurring a late payment fee. They can’t remember how much credit they have left and will overspend, incurring an over limit fee. They’ll spend more than they can afford, incurring interest charges on their credit balances.

Rewards programs are designed to do one thing, and one thing only. To get the CC holder to spend money, more money than they can afford. There’s no correlation between the $ value of the rewards points earned. An airline ticket may cost 40,000 points. But they can change the exchange rate and require 50,000 points for that same ticket. Rewards points might expire in 5 years. So any points earned are lost after that time. And because you spent more than you can afford, if yoiu are late with a payment or go over your limit, you’ll lose your points. To get them back, you’ll have to pay an expensive reinstatement fee.

Credit card issuers have been manipulating credit profiles on card holders for years. They’ll use any excuse to justify their actions.

Open a CC account, it will hurt your score. Close a CC account, it will hurt your score. Don’t use the CC account, it will hurt your score. Use your account too much, it will hurt your score.

Too many credit cards with low balances and high limits? You’re a risk, so raise the interest rate on your CCs and lower the limits. The gap between your balance and limit is potential debt you can incur without the lenders knowedge. It could impact your ability to service other debts.

All of your CCs near the max? You’re a risk. Your ability to pay your current debts are in question. Raise your rates.

Too few or no credit cards? You’re a risk. No credit history.

Are you making more than the minimum payment? You’re costing the CC issuer interest money. Raise your minimum payment from 2% to 4% so you won’t have that extra money to apply to your higher interest balances.

As of now, the best balance transfer offers (for a big balance) are ones that are capped at $75-$150. That way if you balance transfer $3,000 or more, you will actually pay less than 4% for the most part.

In fact, there is a way to actually transfer your credit card balances to a 0% APR credit card, pay no fees and put money in your pocket. I know, it sounds too good to be true but hear me out…

The perfect card will meet these three criteria:

First, look for a credit card that offers 0% interest on balance transfers. There are still many of these offers out there.

Second, look for a balance transfer offer that has a "cap" on the balance transfer fee that they charge. In other words, the offer may state that you will be charged a 3% balance transfer fee but with a maximum $50 per transfer.

Finally, make sure the card has a rewards program that pays a cash-back reward on the balance transfer amount. (Most don’t so beware.) If the cash-back reward is equal or greater than the fee you are in business.

The card I found that meets these criteria (you can learn more about it here http://www.debt-help-and-beyond.com/best-balance-transfer-credit-card.html ) will actually put money back in your pocket (or more precisely back onto your credit card to pay down your debt).

But beware.

Even this balance transfer credit card is only a temporary solution as the 0% intro rate only lasts 9 months. If you are considering a balance transfer I would highly encourage you to combine it with an overall debt reduction plan that will allow you to pay down as much of the principal as possible while you are enjoying your "interest rate holiday".

Good luck