People are far too scared of falling into debt by using credit. Just use it like a debit card, look at your bank and make sure you can afford it, then remeber to pay the card off in time

@brandonsewell1520

Жыл бұрын

Exactly! Preach!

@thanasis-_-

Жыл бұрын

I don't like credit cards because you can unexpected expenses at any moment.

@americangamer1632

Жыл бұрын

@@thanasis-_- not sure what you mean, as credit cards actually give you protection if someone steals you're card details, whereas debit cards don't

@thanasis-_-

Жыл бұрын

@@americangamer1632 have you never had unexpected occurances ever happen in your life? I'll give you a very American example, what if a medical emergency happens and you end up not being able to pay your credit card on time?

@americangamer1632

Жыл бұрын

@@thanasis-_- As I said use it like a debt card, don't exceed the balance in you're checking account so you can always pay it. Being scared of credit cards it stupid, I pay only 99% of everything I buy, for literally no cost

Yeah thanks. I’ll stick to my debit card.

Only in America, where using credit is incentivized. That’s why you stay poor.

I pay bills, gas, food, insurance with credit card. I just pay it at the end of the month so I won't pay interest. It helps with credit and I get cash back.

Only if you are financially secure and not drowning in consumer debt..

Dave Ramsey has joined the chat

@khaeld091

Жыл бұрын

​@@Kevin-fm1vnThis is true he experience many people taking risk in card in there financial. If they take the credit card as like a debit card, you won't have a problem. Impulsive buyer shouldn't use credit card.

@LifeOfTheParty-zf5bi

4 ай бұрын

Haha yeah, my school is using him right now and we are on lessons about using credit cards.

Beware of the false advertising!

Where I live you don’t need credit cards to have good credit rating (just regular saving) America is set up so dumb.

@julianmarshall2127

11 ай бұрын

Same here.where I'm from,we have other ways of building credit

@KittyKat-vb1nd

10 ай бұрын

Designed to keep them in debt and theyre drowning in it rifght now. Ans worse is theyve made people think this is a normal and adult way to live.

Fidelity 2% Visa

I became financially stable when I did the opposite of everything that is in this video

@swaggytoast5242

Жыл бұрын

yup. that's the way to do it

@inactiveeagle04

10 ай бұрын

Good cuz your smarter than this youtuber

@Moj999_

9 ай бұрын

Not everyone is responsible enough to handle a credit card and not overspend with it. Sticking with debit and cash is probably best for the many idiots of the world. Shame though. Lotta missed out value. And hopefully no one gets access to your bank account.

@thecapone45

8 ай бұрын

I literally retired in my 20s with no wife/kids by doing the opposite of the video. It’s just teaching you how to be consumerist.

@tonytony2277

6 ай бұрын

It's your money and even though both have risk, interest rates from the credit card can cause Major inquiries that can ruin you if you can't manage it. Even the rich go broke. With debit you monitor your cash directly and can sum up what needs to be used . Credit card can be the same but it's not yours it's the bank aka someone else money and it's cycling transfers that have interest rates because it's more of a 3rd party thing. Both have a risk of unauthorized purchases and can be taken care of if taken seriously. Yes credit has benefits that make things like getting a house and all easy but with how much you'll be juggling things with it it's best to split em up. What I did was use a credit card for small purchases or emergencies and used my money that I worked for to pay for bigger things or balance my accounts. Advice would be to lessen the spending rate of the credit card unless needed be careful not to max it out and lower the withdrawals from your deposit only using what you need also be careful on the limit of what you withdraw. Their more like the economy version of yen and yang ☯️.

Love the cash back on discover it. I've saved thousands using it over the years and I've never paid any interest or fees.

Every transaction that is charged is going to the CC company. It's basically printing money for them. Many merchants now charge 4% extra than they pay for CC fees and I suspect that many items have that fee built in already. Avoid CC as much as you can as they make buying stuff so easy, you would be drowning in debt. Ive paid 45K in about 4 years and it was not fun. I'm not even accounting for the interest that I've paid and various transfer fees.

@kabob21

Жыл бұрын

You didn't watch the short, did you?

@trich7108

Жыл бұрын

thats because youre not a credit card person and over spend... got 230k in personal credit lines. have 1.5k on em and none accuring intrest.. sounds like its a you problem

Ha. You credit card users think these “rewards” come from the credit companies are lost. The place you make the purchase at actually pays it with 2-5% of the fees they’re charged. Pay with cash. Dont be sheep.

@mattschmitt9924

Жыл бұрын

Dear sheep, Ha. You're paying the same markup at the same places if you pay cash, you just get nothing extra in return. -Credit card user

Both credit and debit piss me off! Why? If I buy something, they take the money instantly, but when I want my money back a 3, 5 or 10 working day wait, for what is mine!

Yea but your still using the money in your account to pay the credit card off

I don't like credit cards because you can unexpected expenses at any moment.

@thanasis-_-

Жыл бұрын

@@noahhjelmeng5223 where i am from there isn't a strong insensitive to have a credit card

@julianmarshall2127

11 ай бұрын

​@@thanasis-_-same here.where I'm from,banks don't really give you much if any perks.only the high end cc customers get those perks

And then there's germany, where building credit is not necessary in the first place. you started out as "fine citizen" and only have to work on your score after you failed. So there is really no reason to use credit cards, and one could just use debit cards. the only reason to use a credit card might be inflation, but I personally don't care.

@Todbrecher

Жыл бұрын

@@Kevin-fm1vn In germany the Schufa is the most relied on credit score supplier, and their score is almost always asked for when applying for a loan, rentig appartments and whatnot. And I have a 98.5% score (or at least I had this in 2021 when I last checked), whitout ever even using an installment paying, let alone taking a loan. my car was also paid in full immediately.

@Todbrecher

Жыл бұрын

​@@Kevin-fm1vn exactly...I think you just have it (that's my perception though, first checked at age 25...). And yes, this is convenient, but we really only need this for property or car loans. Most of the people I know very much dislike the fact of even owing as little as 10 bucks to a friend, so they try to not even borrow money there.

Where I'm from,not a lot of credit cards offer you certain perks like how the U.S does

3.anything percent interest rates are long gone…

Thoughts on Manual overwriting?

3.5% home interest rate 😂 My, this video has aged 😂

Dave Ramsay would have a field day with this video

Credit cards do suck for places that charged 3% transaction fees 😢😂

That's usually how it works. If i want to buy something for $20, then i buy it of course i havec$20 less😅

@Stubbari

2 ай бұрын

That's not how it usually works in the credit world. Try to use that

Statistics show people using credit card spend more and going to debt compare to people using debit card. Ps I like cash 😂 even though i do us credit card sometimes for gas ⛽ and food I like more using cash 😉

I have a cash back debit.

@LifeOfTheParty-zf5bi

4 ай бұрын

There are also apps where you can get rewards for taking a picture of your receipts too

That 500K house does not look worth it. Realtor inflation markert price more like it. There's been other 500k houses that provide way more.

What mortgage rate are you at?

I have to many inquiries and 9 collections and my credit score is only 591 I don’t think I will ever be approved for anything and I been trying really hard

@iitickle6510

Жыл бұрын

I took an accounting course for my program and our instructor told us she knew a person who had a crazy accident and had medical bills that ruined his credit and was unrealistic to pay off. He managed to get help for it and now his credit score is above 700, wasn't sure how but I'm pretty sure it was government-provided assistance

@bruceh4180

Жыл бұрын

Get a secured card perhaps

well what is my Bank offers debit cards? Does that change anything?

How come this insane system still works. If I have a debit card, I am obviously better off than majority of people who have a credit card. I never needed to borrow money = credit score should go through the roof.

yes

I’m Muslim and cannot take a interest based loan. So credit score is irrelevant.

@movieandshowreviewsondeman3134

Жыл бұрын

I work with Muslim clients who have credit cards. They don’t pay any interest.

@jonathancajas2932

Жыл бұрын

@@movieandshowreviewsondeman3134 that’s true. But I meant for the loan itself it wouldn’t even apply to me in this case but yes you’re right we can still have a credit score.

@julianblacksmith8539

9 ай бұрын

​@@jonathancajas2932why do Muslims need a credit score if majority of loans are interest based.

I pay cash

Dave Ramsey will be triggered by this video hahaha

is there any benefit of using a credit card for someone who doesn't use credit?

@movieandshowreviewsondeman3134

Жыл бұрын

Of course.

@marlonarancibia3247

Жыл бұрын

well, yes, the points and miles you get on cards over time. I believe I've gotten around $1,000 worth of cash back

@mattschmitt9924

Жыл бұрын

I get about 2k a year in cash back. Paid in full every month. No fees. No interest. Just rewarded for spending the money I would have spent anyways.

How do i apply for a debit card?

@massacrematt4613

5 ай бұрын

Make a bank account and they send you a debit card

Anti Dave Ramsey?

If you’re a credit card person, get an Apple Card and open a savings account with them! Their savings account has a 4.15% APY and it’s compounded daily AND whenever you buy something, you get 1-3% cash back that immediately goes into your savings account. It’s a great way to combat inflation and you won’t be making fractions of a penny in your standard savings account.

Never use a credit card

The 2-3% reward isn't worth it. It's not going to make you wealthy and puts you at risk of spending more than you should. The only expenses I would recommend spending it on if you want to build credit are your bills which you then immediately pay off afterwards.

This is great but most people don't pay it off. Great for the people who can but most of society can't so this for majority doesn't work. But you have to figure out what works for you best that's why it's called personal budget. Be safe in these streets 🙏

Next, we need a social credit. Give acess to people in good standing better rewards and opportunities than does who dont.

@ilenastarbreeze4978

Жыл бұрын

in america, thats called being rich and white

pay absurd interest rates to spend money I have but I get 10 cents back per gallon of gas? do the math. you're throwing away money

@theinfinity2994

11 ай бұрын

That’s not how credit cards work

@Stubbari

2 ай бұрын

Why would you pay any interest?

Get a secured credit card. They're far superior to unsecured credit cards.

@kabob21

Жыл бұрын

They literally are not. Limited spending capability and no cashback rewards.

Nerd