This NEW Credit Card NEWS Is Very DISCOURAGING Advice
Vložit
- čas přidán 3. 06. 2024
- This new credit card news is very discouraging advice.
In a recent new credit card news article, some discouraging advice was brought to the forefront.
Dave Ramsey and Dallas Mavericks owner Mark Cuban discussed their dislike for having a credit card.
Both men believe that having a credit card could be damaging and prevent people from becoming rich.
In this video, I explain why I believe this advice is both discouraging and damaging.
I believe there needs to be a bridge put in between the gap of having a credit card and not having credit card debt.
Feel free to believe your opinion regarding this new credit card news below.
Do you believe having a credit card will stop you from being rich?
#creditcard #creditcards #creditcardnews #creditcardadvice
Article referenced in the video: finance.yahoo.com/news/credit...
------------------------------------------------------------------------
CHECK OUT THE CREDIT CARD HELP FOR BEGINNERS PLAYLIST:
• CREDIT CARD HELP FOR B...
------------------------------------------------------------------------
Water Your Soil ® online course teaches you how credit scoring works. Click the link below to join the course:
www.wateryoursoil.com/courses...
------------------------------------------------------------------------
I have a book (Strategies to Master Credit) to assist you with improving your Credit Score:
www.mastercreditbook.com/
--------------------------------------------------------------------------
Yes, the book is on Amazon as well | Strategies to Master Credit:
www.amazon.com/Strategies-Mas...
-----------------------------------------------------------------------
Also, be sure to check out the Water Your Soil ® community section for posts and polls regarding credit cards and credit:
/ wateryoursoil
------------------------------------------------------------------
Become a channel member: / @wateryoursoil
------------------------------------------------------------------
Disclaimer: The information provided is for informational purposes only. Content on this Water Your Soil ® channel is opinion based. Advice on this channel does not guarantee results. Please consult with a certified financial advisor or use your own discretion when making decisions regarding your credit report, credit score, and credit cards.
-------------------------------------------------------------------
Heads Up: If you use foul language in the comment section, your comment will not be posted by CZcams. Please keep that in mind when posting.
-------------------------------------------------------------------
For Advertising & Serious Business inquiries contact:
infowateryoursoil@gmail.com
My book 'Strategies to Master Credit' is currently available on Amazon. Also, be sure to check out www.wateryoursoil.com for more helpful resources from Water Your Soil.
I’ll tell you what, I dragged myself out of credit debt and instead of cutting up my cards I learned how to use them correctly and responsibly thanks to videos like yours, changed my life
I appreciate it, Norman. Thanks for watching.
number one reason to use credit cards, is the most important reason. I don't want to give anybody access to my bank account.
Thanks for watching, Brandon.
Exactly
Just saw a huge story about problems with USAA, not to mention all the skimmers that are popping up in stores these days. Better of using one credit card and paying it off in full in my opinion.
Tell it Nell 🎯
I think they are out of touch with the struggles of normal people because they have been rich for ever they do not account for people who pay off cards monthly. Great video
I appreciate you, Betty. Thanks for watching.
I totally agree with you regarding this. There is a medium…not paying interest.
Indeed. Thanks for watching, Tasha.
Its a challenge to build the almighty credit score without the credit cards.
Thanks for watching, Peter.
What Cuban is not telling you is, he use a credit card of all his transactions. Just cause he’s a billionaire doesn’t mean he’s been spending cash money everywhere he goes.
Thanks for watching.
Keep dropping 💎💎💎
We all know that business owners such as Mark Cuban take lines of credit which Essentially the same thing
Not to mention the number of businesses that are able to reorganize under bankruptcy laws.
@@herbertdaugherty636 💯
Facts. Thanks for watching, Sledge.
I would be happy to cut up my credit cards if I was a billionaire like him. Credit cards like everything else in this world can be good or bad just depends on how you use them.
Indeed. Thanks for watching, Blake.
"no one is above criticism" i love that quote. But it sucks to hear that coming from Cuban. That advice is especially meant for those who have bad spending habits. However there are so many people that can use credit cards responsibly and NEVER pay interest.
Very true, Chase. Thanks for watching.
I'm willing to bet that both of them don't run their businesses out of cash in their own pockets. Just because they say one thing when the cameras are on doesn't mean they do what they said when the cameras are off.
💯
Thanks for watching, Jay.
I paid off all debt. The key is using responsibly
Indeed. Thanks for watching, Kim.
Credit cards are a tool. If you don’t use them right you can get hurt. But if you use them right you can build. Not every tool is for everybody. Know yourself and Do what works for you
Thanks for watching, Carlos.
Great video. He is basing his opinion on historical fact as evidenced by the amount of credit card debt in this country. It took me a long time to become debt free, the vast majority are still swimming upstream.
Congrats on becoming debt free, Herbert. Thanks for watching.
I don't believe you need to burn the cards after you pay off your cards. As a working person it is almost impossible to function in society without a credit card, however, one needs to be responsible to not carry the debt. On spend what you can pay off and don't live beyond one's means.
Definitely. Thanks for watching, Chris.
It's hard for me to take Ramsey's advice serious when he tells you that your car and insurance should be $250 all together lol, that is not available in this day and age. Insurance alone for some people is $200. Yeah he made it big, but his advice is out of date as well.
It IS if you are old, live in the sticks, are married with a 750 and haven't had an accident in 5 years.
Thanks for watching.
Hello, how’s it going? I agree with you I have several credit cards and I now have learned. They are a tool for establishing a good credit score nowadays you need this for an auto loan, a mortgage or getting into an apartment thank you for the video.
Yep. Thanks for watching, Joel.
I completely agree with you when it comes down to it people that are financially responsible should have credit cards you can pay your bills off you can get cash back
Thanks for watching.
Very articulate video. My opinion is that it’s very irresponsible for folks with such prestige to pretend they don’t work with banks.
When interest rates are low, it makes no sense for people to use their own money to finance things.
Also, credit cards as an investment is a weird thing to say.
Thanks for bringing this article to my attention. I’ll read the whole thing after this
Thanks for watching, Key.
I agree with "Water Your Soil". Don't burn up your credit cards. That's horrible advice. What Mark should of said is if you want to get rich, pay off your credit card as soon as the bill comes in. No debt. There's no guarantee that if you burn up your credit cards that you'll become rich.
Indeed. Thanks for watching.
Nope, not cut up credit cards but I do understand what they are saying. If it wasn’t for me doing Dave Ramsey I don’t think I would be here now. It helped me to gain the discipline needed to use a credit card responsible. Keep showing us the game 😊
I appreciate it, Tasha.
Me too! No more debt
That’s why Dave Ramsey is debt free and is a millionaire.👍🏼💪🏼🇺🇸
Thanks for the watching, Albert. 👍🏾💪🏾🇺🇸
I would like to elaborate a little also, 1st I agree with you, but we live in debt and buy now pay later society.. im just throwing out number base on my opinion and experience (This isn't a Fact) out of 10 people i would say 1 or 2 has the will power to be responsible, I was say 4 would like to be able to take advantage of the credit card benefits but the pressure of life pushes them into to mis use and you have the last 4 will not do right, they just enjoy spending... Base of my thought process this is why Dave and Mark pretty much tells everyone not to use credit cards because 80% will fail. So to help their platform they run with that Im like you i use my card to bill wealth but my family members and friends fail when they try.
Thanks for watching, Robert.
Use your credit cards responsibility to help build wealth thru good habits
Indeed. Thanks for watching, Tiant.
I can see why the mention cut or 🔥 credit cards with the amount of high interest rates credit card debt. They 🔑 is to avoid credit card debt and have a budget to avoid overspending using credit cards, regardless if we don’t pay interest. Thanks for sharing the article and information Nell!🫵
Definitely. Thanks for watching, Cesar.
Well, folk have a choice in the matter. Just be intentative about your finances.
Thanks for watching, Naomi.
Credit cards properly used, are simply a TOOL to use when spending your money. Staying out of debt is the rule. Paying off your balance at the end of the grace period is the KEY. I have NO credit card DEBT. But I enjoy all the PERKS that credit cards offer. Points, cash back, hotel discounts, airport lounges, ect. And like it or not, we live in a credit based world. Credit scores matter. Everyone needs at least ONE card to function financially in many places. Cash isn't king everywhere.
Good points made, Gordon. Thanks for watching.
It’s just their opinion. I work at a bank and using your cash it not a good idea especially in this scamming climate. Credit is easier to dispute when your card is scammed. My opinion
Thanks for watching, Nadirah.
🤝💳🔥📈💎💪
Thanks for watching, Jeffrey.
Why do people want credit cards?
Usually to buy things.
Why do they use credit instead of cash/debit?
Usually but not always, because they don’t have the cash to make the purchase at the present moment.
Why couldn’t they save up the money to buy the item in the first place?
My guess is lack of discipline or bad habits when it comes to money.
If you can’t do something as easy as save up cash. Why would anyone think you can do something as simple as pay off a monthly balance in full consistently?
Sure some people can use credit cards wisely and take advantage of certain deals. I think these people are the minority.
Credit card companies make lots of money based off this concept.
It’s like giving a child a gun. It has the ability to use it, but eventually it’s going to end up shooting itself or something it doesn’t want to.
It’s better to not have one until you’ve proven you have some kind of discipline.
I’m not saving credit is bad it’s just a tool and lots of people don’t don’t understand how to use it.
Lastly credit is just a stand in for cash. If you have cash you don’t really need credit. If you do need credit it’s because you’re over spending. People see credit as a short cut to get cash.
I’m on the opposite side of the fence. I’m the creditor not the debtor. I don’t use credit but I get paid when other people do.
Thanks for watching.
These are individuals that have private jets lol😂
Definitely. Thanks for watching, Joel.
Very articulate video. My opinion is that it’s very irresponsible for folks with such prestige to pretend they don’t work with banks.
When interest rates are low, it makes no sense for people to use their own money to finance things.
Also, credit cards as an investment is a weird thing to say.
Thanks for bringing this article to my attention. I’ll read the whole thing after this
Good points, Key. Thanks for watching.