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Self-made billionaire Mark Cuban has admonition for those attractive to body wealth: Don’t use acclaim cards.

“Cut up your acclaim cards. If you use a acclaim card, you don’t appetite to be rich,” the “Shark Tank” brilliant wrote on his blog in 2008. “The aboriginal footfall to accepting affluent requires discipline.”

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It’s admonition he wishes he had heard in his 20s, he told Business Insider in 2014, “that acclaim cards are the affliction advance that you can make. That the money I save on absorption by not accepting debt is bigger than any acknowledgment I could possibly get by advance that money in the banal market.

“I anticipation I would be a banal bazaar genius. Until I wasn’t. I should accept paid off my cards every 30 days.”

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Credit agenda companies accomplish it abundantly accessible to absorb money you don’t have: Most cards alone crave you to pay one percent to three percent of your antithesis anniversary month, a appetizing advantage if your account is tight, but a cher one, acknowledgment to interest. Perhaps that’s why U.S. households now collectively authority over a abundance dollars in acclaim agenda debt.

Cuban’s band-aid is to canal the plastic. Most Americans, 71 percent, accept at atomic one acclaim card, though, CreditCards.com reports. And added and added Americans are aperture accounts: The American Banking Association begin that as of the end of 2017, there were 364 actor accessible acclaim agenda accounts in the U.S., a 4.1 percent access back the end of 2016.

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When you’re accepting started as an absolute adult, it’s important to authorize acceptable credit, back that allows you to accomplish beyond purchases in the future, such as a car or home — and one way to do so is by aperture a acclaim card. That’s why money experts like David Bach acclaim aperture a acclaim agenda in college.

“Get the acclaim agenda because it’s abundant to advice you body your acclaim account early,” the bestselling columnist and self-made millionaire tells CNBC Accomplish It. But use it responsibly: “You don’t accept to use a acclaim agenda a lot to body your acclaim account — you aloof accept to pay your acclaim agenda bills on time and pay those cards off in abounding every month.”

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As Bach notes, if you stick to a few basal guidelines, you can calmly use a acclaim agenda after activity into debt.

But if you acquisition yourself not authoritative payments in full, or if you accept already racked up acclaim agenda debt, Cuban’s cash-only band-aid may be the acknowledgment for you.

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Related video: This is back you should get a acclaim card, David Bach says

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