Ever wondered how the credit card companies think? What is the correct way to use your credit card? What is the incorrect way? We discuss all this and more on today’s episode. MIT did a study on brain activity during credit card use vs. cash/debit. We get into the results of that study and what that means. We break down how interest on credit cards is calculated and of course talk about our own experiences with credit cards and interest. No one really addresses the elephant in the room that is credit card debt. Meanwhile, many people struggle with it and are too embarrassed to fix their situation before it’s too late. It's important to understand how it works and what the credit company wants you to do so they can profit. You need to do the opposite of what they want you to do in order to win at the game of credit. Credit Card companies want you to be a revolver (carry a balance on credit card) but ideally you want to be a transactor (pay your balance in full every month).  At the end of the day, businesses like Visa and Capital One have a primary goal and that is to make money off your behaviour. People who have learned from experience or have been educated on how the credit card system works, never carry a balance and therefore never pay interest.This episode was inspired by the second episode (‘Credit Cards’) in the Netflix Documentary series called Money Explained. Go check it out if you’re interested. Follow the show on Instagram @wealthispossible