One day, my son asked me, “Should I get my own credit card?”

But a friend told me, “Bo, that’s like giving him a loaded gun.  If he’s not careful, he can kill himself and others.”

He’s partially right.  For a lot of people, credit cards are evil. And they have proof: Real-life stories of people whose lives have been destroyed by debt.

I see this every day.

For years, I’ve received thousands of letters from people who told me how they were living in Hell because of their spiraling debts.  They talked about how creditors were hounding them, and the ringing sound of their phone triggered chest pains.  They talked about sleepless nights, migraine, and ulcers.

I remember talking to a woman who told me how she was standing on the rooftop of an 11-story building, crying, ready to jump off because she could not face another day of being cursed by creditors.  (She told me that the only thing that stopped her from jumping was imagining how ugly she would look after the fall.  Thank God she was vain!)

But in this essay, I want to introduce you to a very different world.  There are different sets of people who actually gain from credit cards.

A few years ago, my dear friends and long-time TRC Platinum Members Paz and Judd Balayan gave a talk to fellow Platinum friends.  They started their talk by showing photos of their family vacation on an Asian trip—and sharing that was all free.  They shared how their family vacations were always free each and every year.

Obviously, they caught our attention.  They revealed how everything was paid with the Reward Points of their credit cards.  They showed PowerPoint slides (complete with computations) of how the wise use of their credit cards gave them enough free miles for their airfares.

I was already enjoying these Reward Points, but by listening to them, I learned how to maximize them even more.  Because of their encouragement, I became more deliberate with my purchases.

Obviously, I share this with a lot of caution.  I still believe credit cards, in the hands of an immature person, are deadly.  If you don’t watch it, it will consume you.  But if you have discipline and use it wisely, it can make you save a lot of money.

         Let me share with you practical steps:

1.   Never borrow from your credit card—pay for the entire bill each month.

2.   Use your card to buy only things you need; Never buy just because you want to earn rewards.

3.   Get a credit card with specific rewards that are useful for your situation (I travel a lot, so miles save me money.)

4.   Watch for promos for Reward Points or Cash Rebate programs.

5.   Avoid paying their annual fees if you can.

6.   Use your card for all your planned purchases.

7.   If you run a business, see if you can pay for business expenses through your card as well.

Friend, may you become more financially wise!

(One day, see you in one of our TrulyRichClub Seminars.)

P.S. Are you from Cagayan De Oro? Join me on March 25!!

Did you know only 1% of Filipinos are investing in the stock market?

This means 99% are working FOR money when you can make money work for YOU.

So, where can you start?

This March 25, 2023, I’ll be with my mentor, Edward Lee, in Cagayan De Oro for our “How to Make Millions in the Stock Market” seminar. Here, we’ll teach you how to solidify your wealth foundation like I did with my helpers. Now, they’re millionaires!

Be part of this life-changing event. Grab your friends, neighbors, and those you know around the area to see if our guidance works for you!

Register now at