Why We Don't Believe In Credit Cards
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- čas přidán 5. 09. 2024
- Why We Don't Believe In Credit Cards
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You get the card , you pay the balance every month that's it. No need be against it
If you have the money in your bank account, just use your money. Why use the bank's money?
security of a credit card vs debit card....have never had a Debit card...won't.....
@@Myhusbandrenamedmyhandlebecause I can get 2-5% back on everything I buy with my credit card, and it provides addition security. Had a hell of a time trying to get my money back when my debit card info was stolen, but didn't hardly have to lift a finger when I had credit card fraud. Never paid a dime in intereest and I've earned thousands of dollars in cash back. It's really not complicated at all.
@UranusSmells You need a credit score to get good interest rates and also get approved for a loan. Idk about you but I don't have hundreds of thousands of dollars to buy a house with cash.
@@Myhusbandrenamedmyhandle because it doesn't cost anything and you don't have to walk around with huge wads of cash.
Credit Cards
1. Pay off in full monthly or daily.
2. No Annual Fees.
3. 2% Cash Back.
Why is that so hard? I get a free PS5 every year simply for using credit.
Why watch the video or comment if you disagree? You have the right to use a credit card and other people have the right to avoid them at all cost. Dave isn’t holding a damn gun to your head and telling you not to use credit cards. You’re a big boy who can make his own decisions!! MOVE ON!
Between opening new cards and bank accounts (and subsequently closing them after fulfilling the terms of their sign up bonus) and utilizing several cards which earn us 2.6-6% back on all our purchases outside of our mortgage, my spouse and I earned nearly $10000 last year. The “credit card game” can be very profitable if you follow doctorofcredit or other similar sources to take advantage of the best rewards for your spending.
@@monadrake755Why are you so angry about someone sharing their opinion? They don’t have to move on because you disagree 😂😂😂 come one, mate have better communication skills. Agree to disagree without being disrespectful.
I get free airline tickets to visit my family through points and free companion tickets. I like to think I’m pretty disciplined with my spending and I have 1 credit card, that’s it.
Personally I have been 100% on board with this pretty much my entire life. That is until this last January. I had a lot of little emergencies pop up throughout December that wittled away almost All of the safety net that I had started to save up. And then i had to start putting some of it on credit.Then just after Christmas my company ended up letting me go with only a few weeks of severance. I have been fortunate enough to find a new job quickly. But it’s enough to pay my bills and then only barely more than the minimum payment. I hope I can find a better paying job soon. The pay for this job is not great but I took it because I needed it
These guys are literally for people who have absolutely no self control. Credit card debt is so easy to avoid its stupid.
Yes, the Dave Ramsey program is about getting out of debt.
@ericabrown7354but for those of us that do, there is absolutely nothing wrong with using a credit card. Everyone is entitled to their opinion, but Dave seems to take the stance that using a credit card is stupid. I've used credit cards my whole adult life and I've never paid a dime in interest all while earning thousands of dollars in cash back. It would be stupid for me NOT to use a credit card.
Read the room.
The one thing I will push back. Its when I travel outside the US. When I need to use plastic I use cc. I never take my debit outside the us.
I’ve been using credit cards and getting reward points without carrying a balance for over 15 years. This advice is for undisciplined clowns
True, traveler's checks don't really exist anymore so a Visa credit card really is the best replacement.
@@RoastBeefSandwich I have never used travelers check outside the us. I only use their currency and cc when needed. I forgot those excisted.
Nah. Use the bank’s money and pay it off before interest accrues. It’s a liability deal, not just a credit card rewards deal.
Cool you don’t believe in using credit cards but it’s not a toxic game if used responsibly.
And because of my credit card we’ve saved over $1900 on groceries over the last 12 months!
And I didn’t spend more bc I have credit card. I didn’t buy anything I wouldn’t have bought if I didn’t have a credit card.
Haven’t paid a single interest fee bc we pay it off.
Nothing wrong with being a responsible credit card user.
And when you buy a house or car you can save hundreds of thousands of dollars for having good credit.
If people need the Ramsey 7 step program then I agree, no credit card for you.
So it absolutely makes sense that they live by that rule.
I don’t spend more, I do pay it off EVERY month and I enjoy the perks that come with it.
Thank you for acknowledging that this advice isn't for you, rather than claiming it's wrong just because it does not apply to you. Narcissism is rampant on the internet.
Broke people should not use credit at all, nor travel, nor dining out, etc It is like a beer for alcoholics, once they start, they can't stop drinking for days. Airline CC actually saves me money and enjoy the perks. No foreign transaction fees, no $75 per bag, no comprehensive insurance for car rental and you always board with group 2 😊✈️. The key is to pay off every month.
I’d be curious to know what they REALLY feel, not what they have to because they work for Dave Ramsey.
What is the “credit card game”? Is it having a budget and sticking to it? Because that is all it takes to use a credit card responsibly. Dont want to have cage point take an airline card that gives miles or strait cash back and take 1-3% off everything.
@@bryan_witha_whyy if they express their true feelings, they will be fired on the spot. Dave Ramsey has preached for decades that CC are the devil 😈 which is true for broke people, the same as alcohol for alcoholics. Regards
@@nibblitman the CC end game is to pay off every month in order to avoid outrageous interest rates. The type of CC will depend on your lifestyle, if you like traveling ✈️ an airline CC works best but if you don't, a Cashback CC is better. Also, CC adds a layer of protection to your checking account. Regards
@@rodrigofernandez9055I mean yeah that is how you use a credit card but I meant the “game” they were talking about here. The women’s comment of the “toxic credit card points” and the man’s mention of the “credit card game” as having too many hoops to dealt with.
I mean I feel their position is likely for some kind of angle but asking out of trying to take them seriously and at their word.
We got in credit card debt twice and got out of it both times- paid it off! I cut up the cards bc I have no self control…:/
But when we had car trouble on vacation- couldn’t plan ahead for THAT- they wouldn’t take our debit card NOR cash!
Fortunately, our car got fixed in a timely manner… thank you Jesus! But we would’ve been in a pickle if it hadn’t been…
I don't live in the US, in my country credit cards are almost nowhere. You can't use them in supermarkets or clothing stores or bakeries or other stores. You can use them in some gas stations, but usually not the ones with with a shop. Garages won't accept them. Cinemas don't accept them. It's mostly an online or outside of the country thing. People who travel a lot tend to have one, but within the EU your debit card is probably more useful. Outside it becomes a different story and credit cards become more useful because your card may not be accepted. About 3% of people have a credit card where I live. The limit cannot exceed your monthly income and they're automatically linked to your bank account and take what you've spent that month out, so building debt using them is impressive more than anything.
I don't like cards. In order to get a mortgage I got one always paid it off. I don't go on vacations so I got one with points for the grocery store. It saves $30-80 a month on groceries. Nice thing is if it gets compromised I've not frustrated canceling it. Debit card gets canceled I've no access to my bank account than. We use flash food get most of the food on there for 50% 75% off. And you need a card for that.
Credit cards are great because its not your money until you pay the bill off in full each month. If your debit card is stolen and they can spend all of your money in the bank. Sure you can get it back but auto payment fail and you are broke until then. If its a credit card its their problem.
Completely disagree I use my credit card the exact same as a debit card. The minute I make a purchase on my card I go on my phone and transfer the money to the credit card. Collect points while building credit with no risk of missing a payment
Yes from an individualistic standpoint don’t use the bank’s money.
However it’s the banks that fund their local economy’s infrastructures so if people don’t use their money then there is no improvement being made to city.
What??? Credit cards help you build credit. As long as you’re not irresponsible, CC are great.
I don’t think the points game is so toxic but people don’t often have a grasp of how much cold hard cash they really have if they are plunking down $2000 a month on credit cards, because if they stop all the sudden and pay everything off instead of when the next bill is due there won’t be as much cash there.
You know, it is like using your money if you pay it off next day, next week.
Dave always says that debt is Dumb and Cash is King.
Getting 1-5% back on every single thing you buy is king. Pay off on time and in full every single month and there's no reason not to use a credit card.
@@MrMnvikingsfan This is the wrong channel to be pro credit card.
@@katyedwards3935 nah. No reason I need to agree with every single one of his points to enjoy his content.
@@MrMnvikingsfan True
I’m not the only one lol 😂 I don’t like credit cards at all. I remember them trying to make us sign up for one at college my damn they we’re so aggressive lol
We are the same. Debit cards for us, too.
Credit cards are dope
Fun fact, some peeps just love problems more than peace, crazy peeps
If my debit card gets stolen, all the money in my account is at risk. If my credit card gets stolen, none of my money is at risk.
Credit card and self-control.
Clear it at the end of the month.
Also, always use a CREDIT card for Internet purchases.
Then, you argue with the bank over THEIR money when a fraud occurs, not your own.
I've never had a problem with my credit card, I use it only when needed and pay it off straight away so I don't get charged. I use it to my advantage not theirs
If you can afford to make the purchase, you do need a credit card. If you need a credit card, you can't afford it.
I genuinely don't understand why you are so anti-credit card. Credit cards in the hands of mature, responsible people are incredibly useful and convenient. Your position seems so extreme. There are alot of us folks out here who use credit cards and pay the balance off in full and on time. It's actually very easy.
Yeah but judging by how much money these lenders are making, that’s not happening. If people did that, they wouldn’t be getting absolutely crushed with debt.
I am not an American, and in my country people have debit card, and the concept of a credit card is really strange to me. I learnt about credit score and all this system in the US, obviously I still find that really strange (to me it is like borrowing to get to borrow even more!).
There's nothing wrong with AA. But it would be wrong to sell people AA material to make money by either convincing them they are alcoholics, or pretending the 12 steps are general purpose advice for everyone. And that's what Dave has been doing for years.
I wish he would just be honest and say he is giving financial based psychology advice, and admit that, purely by the numbers, it is not optimal.
If you have no history of a debt problem, avoiding credit cards is foolish. Paying cash for a house or a car is foolish. Avoiding debt as a principle is foolish. Simply by the numbers.
Thx for paying for my points.
For people who don’t know, or a stupid always use your money always. Do open a second account preferably an investment/interest account with the bank. Never subscribe to a credit card
Let them try to rent an apartment. Credit is needed.
Use your debit card and get all your money stolen..hm
This "bigger hoop" is SO MUCH more work. Promise.
Yall are delusional.
I hate when financial personalities don't trust their audience. Over 90% of millionaires use credit cards, but Dave doesn't recommend it because he doesn't trust you to pay it off. If you are trying to emulate millionaires, use a credit card and pay it off.
I mean, if you are in so much debt that you need a financial guru to walk you through the common sense steps of spending less and making more then it's kinda hard to make the argument that you've got the same level of self discipline with a credit card that a millionaire does...
Dave Ramsey’s audience isn’t millionaires
@@ducks-on-quackI mean millionaires are probably less than 1% of the world's population.
The people who most need Dave’s help shouldn’t use credit cards. Plenty of us can while still sticking to our budget.
A lot might be millionaires. I just realized we have a million net worth (Ira and house) but listen to Dave and also use a credit card!
Straight facts, every camera I’ve ever purchased I paid cash for. Couldn’t imagine getting a credit card.
By using cash you are leaving money on the table and helping pay the rewards of others lol. Just play the game and know the rules. I’m sure these guys are using credit cards too; they just can’t admit it because they have to sing the same song as Dave 😂😂
That’s just stupid!
this is bad advise. credit cards are great if u know how to use them for profit!
This lady is wrong.
Haha. Use your money? ..... im trying to say it without laughing. If people had money, there wouldn't be a need for credit. I dont have credit cards and wont. However, having a few for emergencies is fine. I wont get one to get makeup or travel