Credit Car hack that will change your life Grit Financial

Two Credit Card Hacks That Will Change Your Life

Two Credit Card Hacks That Will Change Your Life

On our Grit Financial Tiktok account, Andy shares advice on credit card hacks.


Hi, this is Andy. All right, today in a minute, you’re going to learn two incredible things about credit card debt. On average, the interest rate is about 20%. Here is the first thing, say you’re carrying a $5,000 credit card debt at a 20% interest rate. If you don’t do anything about paying off this credit card, every three and a half years, the balance is going to double. $5,000 will become $10,000, and in another three or half years, it will become $20,000 and in another three and a half years, it will become $40,000. In about 10 years, your $5,000 balance can go to $40,000 and this is what bankrupts people. This happens so quickly.

The second thing I want to talk to you about is forget about investing in the stock market. The best investment you can make is paying off this credit card debt; for example, if your minimum payment is $100. If you pay another $100 on top of that every month, you’re getting a guaranteed 20% rate of return—you cannot get that return anywhere. Think about these two facts ask me the questions here. Pay off that high-cost credit card debt.

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Wendy Oliver

A seasoned lawyer and legal compliance expert specializing in the financial sector, Wendy has worked in large law firms and as in-house counsel for companies such as Bank of America and OnPoint Credit Union, and educational institutions such as the University of Chicago and Duke University. She’s also worked at a fintech startup, a consumer lender and a large credit union, as well as running her own practice advising financial institutions.
Well-versed in the ins and outs of disclosures and agreements, contracts and corporate matters, Wendy is most excited about helping others to achieve financial stability, something she had to grapple with herself in her younger years and as a law student. Her goal is to ensure Grit’s financial wellness tools not only help people through financial emergencies, but also establish long-term habits for financial success.
How she got her financial grit: “In college, when I was living off loans and part-time work, I had a budget and that really helped me. After college and law school I had loans to pay. Budgeting and understanding where your money goes can really make a difference in your financial security.”


  • General Counsel, OnPoint Credit Union
  • Chief Compliance Officer, Aven
  • Asst. General Counsel, Bank of America
  • Duke, U. of Mich, U of Chicago


  • Led compliance function for the industry’s first Home Equity backed Credit Card
  • First GC at Oregon’s largest credit union preparing institution for crossing $10B threshold


  • 30+ years of experience in Banking Legal and Compliance including Startups, Scale Players, & Regional Players