Is our addiction to credit cards and consumer debt really a necessary evil in today's interconnected world - or is there another way? Steve Stewart of MoneyPlanSOS joins us to explain his anti-debt philosophy and what options the average person has if they want to stay away from making expensive debt-related mistakes. Since a few of us on the panel have well-established love affairs with our travel rewards credit cards the conversation should prove lively!

Show notes: http://moneymastermindshow.com/episode7/

Key Takeaways From This Episode

Some important points made in this episode:

Is it even possible to ditch credit cards in today's world if one wanted to?

Peter and Tom bring up some interesting proof of rewards credit cards being tied to higher spending habits.

Will not using credit cards hurt your credit score?

Is it safer to use a credit card than a debit card?

Do your credit cards rewards points fall from the sky or is someone else footing the bill?

Items Mentioned In The Show

Steve likes eCredable.com and what it can do for people who refuse to buy into the credit score game.

Mastercard's zero-liability plans for debit cards.

Canada's credit card addiction as of this year.

See your FICO score today at http://www.myfico.com/

Canada's credit scores are kept by Transunion http://www.transunion.ca/ and Equifax http://www.consumer.equifax.ca/home/en_ca.

Panelists:

For a quick bio of each of our show participants, head on over to our panelists page. http://moneymastermindshow.com/panelists/

Special Guest: Steve Stewart | MoneyPlanSOS.com

Glen Craig | FreeFromBroke.com

Kyle Prevost | YoungandThrifty.ca

Miranda Marquit | PlantingMoneySeeds.com

Peter Anderson | BibleMoneyMatters.com

Tom Drake | CanadianFinanceBlog.com

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