Billionaire Mark Cuban wants you to ditch your credit cards.
The “Shark Tank” investor has long been candid about his thoughts on using credit cards. In a 2008 “How to Get Rich” blog post, he wrote, “Cut up your credit cards. If you use a credit card, you don’t want to be rich. The first step to getting rich requires discipline.”
Cuban told Business Insider in 2014 that he wishes he had known when he was in his 20s “that credit cards are the worst investment that you can make,” admitting that “I should have paid off my cards every 30 days.” And, in a 2017 Inc. Magazine interview, Cuban summed up his best personal finance advice in one sentence: “From my dad: Don’t use credit cards.”
While Cuban’s advice assumes that cardholders are carrying a balance that accrues interest, anyone can learn a thing or two from his credit