Been using credit cards exclusively for a decade, never paid a penny in interest. Just be responsible and pay your bills.
@danielortman25348 ай бұрын
I got a secure credit card that I use and automatically pay off so I can build my credit score. It isn’t a rich person thing, it is a responsible thing.
@user-sb1hu8wb4y
8 ай бұрын
I agree ☝🏽
@kdafwwfw8 ай бұрын
or you move from America and don't have to suffer with a credit score.
@justin_watson1
8 ай бұрын
Nope, just gotta work on that social credit score.
@tylerofearth22968 ай бұрын
Half truth. Real wealth isn't debt or a credit score.
@Eligaminglee
8 ай бұрын
real wealth is income and assets to liability ratio
@tylerskiss8 ай бұрын
We need to start teaching kids how credit and interest works BEFORE they are old enough to get a credit card. I never knew that interest accrued on the entire amount. Meaning 4 bills in and you are pay interest on your interest. The whole thing becomes an exponential time bomb.
@spray_cheese
8 ай бұрын
Convinced the credit card companies pay the education system to cut that out, which probably cost just as much as they would loose to their customers being smart🤦♂️
@danny8388 ай бұрын
So the lesson here is pay your debt 😂
@Ren-bj4xm8 ай бұрын
??? Do People really does not treat their credit card as debit card?
@ctran19558 ай бұрын
Uhhhhhhh. So basically she said rich and poor people pay everything with credit cards. Got it. (Which obviously isn’t true since there’s plenty of people and the rest of the world who use cash.)
@Eligaminglee8 ай бұрын
Having a credit card is a must. Some jobs do a credit check, and im going to assume you are going to get a loan for a house, which the rates depend on credit score. Also credit cards are usually a no fault if lost or stolen unlike some debit cards.
@danny838
8 ай бұрын
My old man needed a card to go on holiday with but couldn't get one because he had no credit score, because he had never borrowed. He even showed a 7 figure bank account, and it meant nothing.
@kevinjohnson98448 ай бұрын
Sorry, when I was very well off, as did folks that were/are worth millions, paid cash. Before any "cash back" credit cards etc....
@thomashartzell62688 ай бұрын
No. Sorry to say. But you are paying back more than you spend. That's how banking works..
@burningraccoons
8 ай бұрын
More often than not if you pay it off by the end of the month you will incur no interest, so you would pay back exactly what you spent. Unless you are talking about annual fees and such but those fees also apply to debit cards which I believe is the contrast the video is trying to make.
@justin_watson1
8 ай бұрын
No, that’s not how it works lol. The credit card companies charge the vendors 3% per transaction. The CC companies aren’t targeting the consumer, they target the vendor who accepts credit cards.
@ashtonhennings10888 ай бұрын
Ooo! Pick me! Pick me! I like guns! I like to be around ignorant people! Pick me!
@MPHMitch8 ай бұрын
No
@joshdavidson8548 ай бұрын
Eat the rich
@dustinwheat40968 ай бұрын
Why are the comments being aggressive this is just objectively true.
@justin_watson1
8 ай бұрын
Because they’re the people who aren’t responsible enough to have credit cards.
@joshroberts85468 ай бұрын
That works if your credit is within your means, most poor people with credit cards have credit limits way beyond their means, and get up to their eyeballs in excruciating debt
@Ren-bj4xm
8 ай бұрын
That's why its stupid, people should know that they can request the card limit themself and not the maximum limit the bank trust them with.
Пікірлер: 27
Been using credit cards exclusively for a decade, never paid a penny in interest. Just be responsible and pay your bills.
I got a secure credit card that I use and automatically pay off so I can build my credit score. It isn’t a rich person thing, it is a responsible thing.
@user-sb1hu8wb4y
8 ай бұрын
I agree ☝🏽
or you move from America and don't have to suffer with a credit score.
@justin_watson1
8 ай бұрын
Nope, just gotta work on that social credit score.
Half truth. Real wealth isn't debt or a credit score.
@Eligaminglee
8 ай бұрын
real wealth is income and assets to liability ratio
We need to start teaching kids how credit and interest works BEFORE they are old enough to get a credit card. I never knew that interest accrued on the entire amount. Meaning 4 bills in and you are pay interest on your interest. The whole thing becomes an exponential time bomb.
@spray_cheese
8 ай бұрын
Convinced the credit card companies pay the education system to cut that out, which probably cost just as much as they would loose to their customers being smart🤦♂️
So the lesson here is pay your debt 😂
??? Do People really does not treat their credit card as debit card?
Uhhhhhhh. So basically she said rich and poor people pay everything with credit cards. Got it. (Which obviously isn’t true since there’s plenty of people and the rest of the world who use cash.)
Having a credit card is a must. Some jobs do a credit check, and im going to assume you are going to get a loan for a house, which the rates depend on credit score. Also credit cards are usually a no fault if lost or stolen unlike some debit cards.
@danny838
8 ай бұрын
My old man needed a card to go on holiday with but couldn't get one because he had no credit score, because he had never borrowed. He even showed a 7 figure bank account, and it meant nothing.
Sorry, when I was very well off, as did folks that were/are worth millions, paid cash. Before any "cash back" credit cards etc....
No. Sorry to say. But you are paying back more than you spend. That's how banking works..
@burningraccoons
8 ай бұрын
More often than not if you pay it off by the end of the month you will incur no interest, so you would pay back exactly what you spent. Unless you are talking about annual fees and such but those fees also apply to debit cards which I believe is the contrast the video is trying to make.
@justin_watson1
8 ай бұрын
No, that’s not how it works lol. The credit card companies charge the vendors 3% per transaction. The CC companies aren’t targeting the consumer, they target the vendor who accepts credit cards.
Ooo! Pick me! Pick me! I like guns! I like to be around ignorant people! Pick me!
No
Eat the rich
Why are the comments being aggressive this is just objectively true.
@justin_watson1
8 ай бұрын
Because they’re the people who aren’t responsible enough to have credit cards.
That works if your credit is within your means, most poor people with credit cards have credit limits way beyond their means, and get up to their eyeballs in excruciating debt
@Ren-bj4xm
8 ай бұрын
That's why its stupid, people should know that they can request the card limit themself and not the maximum limit the bank trust them with.
@justin_watson1
8 ай бұрын
Aka don’t be an idiot.