THIS Is Why I ONLY Use A Credit Card
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- čas přidán 8. 09. 2024
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Jeespret isn't a credit card using debt. I use my credit card but I pay it off immediately before the due date I don't even see a due date lol. I think using debt responsibly is the key but mostly everyone has issues with self discipline.
That air BnB story is repulsive. I can’t believe the host and even Air BnB themselves said “not our problem”. Who would have thought the credit card company the last resort would come in clutch in a situation like that.
God Bless Your Journey 😇❤Thank You 😇
Me
They've got the legal jargon, they know how to shake thugs down.
I'm kind of amazed that AirBnB would take these kinds of risks though. Maybe it was because of the amount.
Risking a lot with those kind of business practices
Same happened to me with scammy AirBnb
Cash back on credit cards is epic. I normally make anywhere between $10 to $20 in points just spending money on groceries. That is extra free cash I just throw into my Roth and into the S&P
wich credit card you use
Wait till you find out how to use points and miles smartly then you’ll love them more!!
CCs are not for broke people or people that can't control their emotions.
It all has to do with how you manage money! I've been broke and needed a credit card to help me get by, but the next month, I paid it all back, and my dad, who was making a lot of money just blew it all and got into severe debt. So I can attest to it's how you manage your money, I'm still not rich, but I am well off.
A debit card has the same FDIC protection .
So basically women
If you borrow money over a period of X years, whether credit card or loan, but use that money to invest in something which gives you a greater return than the loan interest over the same period then you are not being dumb are you!!!
Also a financial record of borrowing money enables you to demonstrate that lenders consider you a good risk to borrow higher amounts.
@@fatheadcat9958 not really because you would have to be paying back the loan out of your money rather than the money borrowed from the loan. Meaning you would be spending twice as much. And thats if the investment does not fail. This is high risk and double the cost. You should only invest with money you are okay to lose. If you throw everything into investing you will be screwed. The thing people need to focus on is assests like house but not assest that lose value fast like a new car.
I myself like to use credit card on every purchase I made, because I get all the perks available for me. But of course I don't spend more than my budget each month. I make sure I paid in full the due.
It's not difficult. So many Americans dig their own graves being irresponsible. Treat credit like a debit card, budget, pay monthly with responsibility. People treat credit like free money with no sense of responsibility to stay within limits, watch spending and pay on time. It's not free money but this is what gets people in the messes they're in.
Amex is fantastic for this. Any legitimate issue from a retailer will be handled. With a CC, you’re using the banks money initially. With a debit card, it’s directly your money from your bank account. CC companies will go to bat on your behalf to get their money back.
I want a Amex card so bad
@@crystailmoniquesmith8088What is the obstacle?
@@crystailmoniquesmith8088i have a amex prepaid debit card only I'm not getting a credit card
I feel the same way about my Mastercard. And nefarious dealers dont pick fights with credit card companies because they dont want to lose access.
@@Jon_E debit is better than credit because you don't owe money back
I use one. Credit cards are a great tool for people that have discipline. If someone doesn't have discipline then best to not use them.
Dave Ramsey is like AA. He is perfect for a select group of people who cannot control themselves for various reasons and during the program he is rigid and tough. Once you graduate or get through the program (ie get out of debt)… you realize that the messages and rigidness is perfect for the person who is going through the program but not for people who have graduated or never had an issue with spending/alcoholism.
Time and place! Dave gets you out of debt but I feel other people will help you build wealth faster!
i could see what he is talking about
This is such a great analogy!
👌🏿👌🏿 I am debt free by watching Ramsay, I now I a have way more discipline when it come to using credit cards 🦾
My debit card was hacked three times a few months ago. Finally wised up and started using my credit card and pay in full each month.
I’ve been watching your videos since before 2019 and they way my life has changed since then is unexplainable. I went from over 20k in debt to having no debt. Becoming self employed and my credit score as well as my credit limits and cards are way higher. I don’t say this to brag its just went I started I only had two credit cards. One with 600 and the other with 750 and now i have over 100k in credit simply from applying what you were teaching. I appreciate all the value I’ve gained over the years and I also only use credit cards and carry no debt. It has no been easy resisting the urge to go buy liabilities but at this point in my life I’m focused on my bigger picture. Material things will come later
No, you can't use cash for a reservation booking half-way around the world. But if you use your credit card for everyday simple purchases, those perks you get like cashback/rewards are simply an enticement for the data they collect from you on how you spend and where.
I agree. What choice do we really have when the use of places accepting cash in the US is getting more scarce?
I've lived paycheck to paycheck, but I had good financial habits, and I used my credit cards like debit cards to build up my credit. I am not broke, but not rich, and I still don't carry credit card debt.
Me too! I have a savings account that is dedicated to paying off my credit cards. If I don’t have as much money in there as needed to cover my balances I get nervous. Like “I know I’ve got a pay check coming Friday but I don’t like that I can’t afford to fill my “CC payment” account all the way.
I pay off my credit card every weekend. It definitely helps with being organized and spending properly. Make sure you can afford what youre buying with available funds before you use your credit card. Too easy!
Spot on as usual. I always buy plane tickets with a cc. Flights get cancelled. Cc are great if…… you set up auto pay monthly
Treat a credit card like a loaded gun. Quote from Robert Kiyosaki Rich Dad Poor Dad
You're ABSOLUTELY right! Use of credit cards is the BEST way around stress free interactions with bad service and management. State your case/explain why you are dissatisfied, if no one cares to rectify the situation, swipe with your favorite card with a smile and file the dispute. No muss, no fuss :)
God, I wish there was Internet & someone like you on it, when I went out on my own after high school. You're awesome!
Thank you for this explanation. I had a debt card for many years because I was controlling myself and my spending. I have no credit card debt.🎉🎉🎉 Now that I understand how all of you use credit cards, I am now ready to 'graduate' to a credit card.😊
Always make sure you can pay the statement balance to avoid interest charge
you are so right , it all about the mindset. Problem is the people who need this information the most usually have the opposite way of thinking and change is very difficult.
I worked with hundreds of people at a government agency where we all made the exact same amount of money and there were people who were well off and some who were 10's of thousands of dollars in credit card debt and filing for bankruptcy all this at a job where it was impossible to get laid off and you knew exactly how much your pay check was going to be every week. I would try to talk to them about investing and spending wisely but few would listen.
I appreciate your input and your sincere own experiences to help so many of us that need to be aware on how important it is to structure yourself accordingly. So many of us have it all backwards. For many years I used credit cards like an endless pit of cash that got me in trouble. Fast forward to present time. No credit card balances for years now and always in the black at the end of the month. 😊
People who brag that they would never use a CC are announcing the fact that they fear their own spending habits and that have no self-control.
As much as I would like to use CC 😅 I have a bit of a spending problem so i need to know how much I have after spending so I don’t go overboard. I’m just not cut out to be a credit card person
I went through the same with Airbnb here in Edmonton Canada. Airbnb have become scammers these days
If someone doesn't have discipline to use a credit responsibly, they won't have the discipline to follow a long-term financial plan and build wealth.
But we need those indisciplined people to have nice juicy credit card benefits.
Facts let some people f up
You guys are horrible, there wont be any perks, in a couple of years, metals will reign suprême 😏🇩🇰❤️
yeah so they should just lay down and die poor, right? forget using cash or debit wisely, it's credit cards that show a man's worth
Here in the UK, it is becoming quite difficult to spend cash for larger transactions (say over $150/£120)- so I use my credit card and then once a month pay off my bill in cash at the bank. They seem to be okay handling cash still.
In cash at the bank?? Why not hit the pay button on your app
@@TonyCox1351 I’m one of those people that prefers paper cash and the right to spend anonymously and be an anonymous person if I wish. I just think it is a human right that we will lose soon and I don’t want to lose it.
@@quokkapirquish6825 if you are using a credit card to make the purchase, then it’s far from anonymous, but to each their own
Great video, I am in investing mode so have zero luxury items. Bought a 2005 Pontiac Bonneville w low miles, amazing ac and it runs smooth. No car payments 👌
Cheap motels these days are closer to $100 these days. They were around $30 in the 1980's. I was near Harvard for a week last month for graduations and the hotel rate was $500 per night I managed to get a weekly rate for $200+ per night for a discount Sheraton as well as a large suite in a condo buidling in Cambridge. In Cupertino I paid around $200+ for discount Marriott last year and I have to pay a huge exchange for Cdn dollars. I use a Td first class travel visa which has high fees but I have never paid them over 15 years plus I have had it as I made an arrangement as I have large assets with them.
Very good advice. I've learned all these lessons along the way. I wish I'd been taught this in high school.
I agree. I love my credit card. I use it to pay everything and pay the balance at the end of the month. And the handful of times Ive had issues with a dealer online, the credit card company has come through for me.
They come through for you because they're waiting on the day you accidentally or purposely carry a balance and they can cash in on all that good will. CC companies are not your friend and shouldn't be treated as such. They are the snake in the garden of Eden.
Great advice. Debit cards are crap. Way better using the credit card if you're disciplined. Get the benefits, miles & security.
I apply the same strategies.
Thanks 🙏 For the Tip Jas
Thank you for this video. Excellent as always!!!
Credit cards are awesome as long as you have self-control and live within, or even better yet, below your means!
Went on a vacation and used points for all the hotel stays, and earned more points on gas and restaurants. Cheapest vacation at nicest hotels!
I had a similar situation recently but using a debt card. the bank took care of it just like a credit card company would. I have both and mostly use credit cards but that example is kinda extreme.
You got lucky. Should,mever use a debit. Debit makes absolutly zero sense. Banks often do not assist, as the money is already gone.
Frank Abagnale Jr (Catch Me If You Can) gave me the tip about using Credit Cards for everything for all the protections. If you use your own money (or Debit Cards) your money is gone until any resolution process is complete.
I love credit cards for the same reason. Put the liability on the banks not on my cash.
Below !!! I do the same. I use credit cards to pay for almost every thing, and pay the full balance when I get the statement, and take advantage of their cashback.
I use credit cards all the time and I'm also a very discipline person
Yep - that fake room AirBNB deposit scam happens ALOT with India AirBNB, my DebitCard Guarentee worked to resolve the same situation. Both the Host and AirBNB-India refused deposit refund within an hour of the Host 'clarifying'. I thanked my bank for reversing the payment.
You are right! Always pay balance every month and reap rebates! I like Sam's m/c for 5% rebate for gas .
I've been using a debt card with a chip from BofA for Years ,and it's not a problem .
This is a great vid-thanks for the info! Didn't think about fraud protections of debit vs credit. And your transparency is refreshing. Appreciated!
I have a U.S. Bank visa CC that I opened 12/22, Just used the air miles (150,000) to fly business class from Las Vegas to the Philippines. All I had to pay was taxes. Love the perks.
I have 2 cards, my everyday and travel. I use the cards for the protections you mentioned.
.. GREAT INFO! .. BUT .. Only Two Questions: WHAT THE HELL happened to that CRAPPY Airbnb owner? .. Did you purposefully leave an EXTENSIVELY LONG VERY BAD REVIEW as a warning for all other renters that may not be aware about this one crappy Airbnb? Because that was a shitty move on their part, $5000 USD is not a small matter and who knows how long he's been doing this type of legal criminal activity and how many people he has thoroughly shafted this way!!, that POS Airbnb owner should be completely and permanently removed from the Airbnb site and everyone should be warned about this one Airbnb criminal!!! .. I appreciate and love your clear no nonsense financial advice .. Thank you for your content! ... & PS: .. I'm also a fan of Kiyosaki and Ramsey .. and now you're on my list of financial freedom gurus I recommend to others needing this type of guidance .. Thanks again!!! ...
I love market briefs. Thank you
When I get paid I just make an over payment on my credit card and have a credit and then just use it throughout the month. That way I dont go over budget and I get the rewards and dont have to pay any interest. Chase has started cracking down on this though. They won't let you overpay by more than $400. Other cards I have don't have a limit.
It's weird how culturally different American banking is to Australian banking. Credit cards are barely used here in Australia, they are an artifact of a bygone era. Like cheques and checking accounts, I've not seen a cheque in 20+ years.
Wtf do you have instead of a checking account? How do your banks work???
@@itsecco2585 savings account, it's probably just a terminology thing. But my Money gets paid into my bank account (savings) and I buy things from it. Each month interest can get paid into the account if you meet the terms.
No country or most people in the world do not want to be like Australia. You guys are fucked
@@Grant82gcwhat do you use to buy things then? Cash? Debit card through ApplePay? Please answer bro I’m so curious 😊
Debit cards probably have way better protections in australia, maybe comparable to credit cards here
I pay all daily expenses on my VISA with. 1.5% cash back feature. My card is paid off timely and I incur no interest expense. I have a $35k limit on my card.
I keep my savings in my Glint account in the form of Gold bullion. Glint provides me with a US based debit card and I can convert my gold to cash at spot any time I choose to spend gold. This is akin to having gold backed dollars. 👍😊
Love all your content, I'm a huge fan, although I had a similar situation, with a hotel in Costa Rica, using Expedia, with an Amex card, a booked 5 days 2 months in advance, and tried to cancel within 24hrs, and Amex said they couldn't do anything for me cause its (Expedia partner) and Expedia couldn't do anything cause it was the Hotel's Policies..... so they robbed me of my money, be careful out there fellas
I had similar situation- my host wouldn't let me keep the reservation the computer allowed- told me to cancel, but if I did that I would lose my money. Luckily AirBNB did step in and resolved all the issues.
I use a credit card for most things including monthly bills but I pay it off every month. Lately I have been considering using a debit card because a lot of companies are starting to charge a 2% fee for using a credit card.
When you work with certain people they demand either credit cards, or on a larger level want to see your long credit report. This is to prove if you mess them over they will get paid. A lot of ratings you get for different professional things are based on your other credit numbers. In some industries those are essential. Dave Ramsey is working mostly with people in credit card debt. That's important in understanding his messaging.
Not only have I never used a debit card, I have never own one. I use my credit cards monthly, but I never carry a balance.
I think the most important question is do you have a good emergency cash fund and you have investments that give you a secondary income that can easily pay off your credit card. If you don't have an emergency fund and have no or limited investments I'd say stay away from them write now. My emergency fund and investments are too low for me right now to get a credit card. Focus on getting to a millionaire then worry about credit score.
🔥 🔥 🔥 🔥 🔥 Yes you have to read the hosts policies 🔥🔥🔥🔥🔥
That host wasn't being very kind, especially since it was only hours later. That host also chose to set that rule. I would not have ever treated a potential guest that way however, I'm totally surprised that the credit card company reimbursed you because usually they tell you the dispute is between you and the company you purchased from.
The cc company gives immediate refund then pursues the story. They are your advocate until the merchant has a better story. You may or may not continue to be supported, depending on the circumstances.
I use both debit and credit cards, depending on the type of purchase.
My favorite CC is my AAA card 5% Cashback on gas and groceries!
Curious. I've never seen a cashback reward higher than the merchant fee, but I guess in AAA's case the membership income adds to the interest to subsidize the perk.
@@tactileslut the bank of America cash rewards card for platinum honors members gives 5.25% cash back in your chosen category.
Tip. You can apply for more than one cash rewards card, each set to a different category.
Buy a temperpedic.. it’s the best bed!!
Understand velocity banking with credit cards. I have been paying attention on how stores with the debit cards are labelling store transactions as withdrawals that does not fall into the rewards systems. My credit union gives me points for both debit card purchases and credit card purchases. The withdrawals messed me up, briefly.
Nice you very smart when you said you have control your money of course I feel you bro you from the best people to cotrol the money with respect one love ❤️
Some transactions incur a 1.9% charge here in Australia, so it's not feasible on occasions.
The US is 50 states agreeing on many things. The cc companies give many perks because it benefits them financially. In Panama, my VISA card is handled completely differently. The credit card limit is held in reserve in my bank account, I pay for life insurance to cover my balances, I pay for monthly fraud protection...it all totals about $6/month. Being a US citizen provides benefits we don't fully understand. Sorry about your cc experiences.
I went threw the same thing with air bnb the picture looked nothing like what I went to go see I never got my deposit back, but a friend told me to takes picture to put online of what the house really looks like and he got his money back like that because he was going to leave a bad review and show picture of what the house really look like that was how he got the money back from the host
Great video, much love brother 👑🙏🇺🇸
Airbnb sucks these days.
I sold my stock months ago
As usual...sound, solid advise. Nicely done...thanks.
Thank you sir for keeping it 💯. Please continue your videos they are truly gold 💰💰💰
I like CC. American mostly use credit card.
Exactly! Credit cards are >>>> Debit cards
CC are awesome, if used correctly they offer alot of benefits.....one of the big ones is its not tied to your actual bank account balance
I pay it off every month and use it the way I would normally use a debt card.....
Use em wisely and they are very useful
Great example, thank you!!! 👏🏼
During the pandemic I used the credit card to much but that was a different time. These days I use my credit card 99% of the time
Developing discipline is the key to being financially secure/stable. 👍
Use a combination between credit and debit.
For people outside the US, and when spending money in different currencies, the 2% extra that credit cards are charging compares to for example Revolut.
For people living in the US this podcast makes sense.
A lot of business that have subscriptions or monthly payments are now refusing to use credit cards. They insist on debit cards.
Well in the US that should not be an issue because so many banks issue debit cards that can be used as both. For some places it has to be credit cards. Truth is buying from places that only accept debit cards might not be much of an issue as long as people can always get those cards.
Funny he says Embassy suites because yes they have great beds and pillows OMG. I get the best sleep and I go there sometimes just to chill on the weekends
One of the hotels has sleep number beds! That's a trip!
I hate CCs for personal use… I use only for business purchases.
Eye opening, thank you
Hi. Recently was charged a 3 percent charge for using a credit card. Going to cash.
I remember picking a travel book on the road to get hotel discount coupons!!!! Am I getting too old )))
How old is too old? Waking up every day is great. Waking up with money to spend is fantastic! I remember those books. Have they gone away?
❤ love the information today
Thank you
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Maria Reyes.
I'm surprised you know her. I've been making a lot of profits investing with her for a few months now.
Maria Reyes changed my life because of the high profits I got from investing with her.
You invest with Maria Reyes too? Wow that woman has been a blessing to me and my family.
she often interacts on Telegrams, using the user below.
REYES40 💯
this I agree dude..thanks
Which CC do you use and/recommend?
Invaluable teaching. 👏
Your credit card videos are my favorite.
I was fortunate to get a refund from Visa, who liaisons entertainment conglomerate using a debit card.
Grand rising family! ☀️🧬💎❤️
Credit cards is tied to paper trail in doing business taxes?
Is this the nexus . . .
Much appreciation
Dave Ramsey minority report credit card debate!
Is the cash back added onto your credit card? Is it given for all purchases or only qualified purchases?
Both are answered by: depends on the card. Some give you 'true' cash back, some apply it as a statement credit. Some cards give a certain percentage on 'qualified purchases', and a lower percentage on all others. Some give a flat percentage on all transactions (except cash withdrawals, those pretty much never get cash back or rewards).
Shop around and compare credit cards from different companies and find the one that suits your situation.
just a heads up, your bank doesn't care unless you make them money. getting $5k back when you are little is a lot harder than if they make a lot of sub fees from you.
Be careful with cash back! A CPA said that you should never accept cash back on credit cards because you still have to report and claim it on your taxes, therefore it is considered taxable income. He said it is best to cash in on free gifts and perks from rewards instead because you can't be taxed for non cash gifts.
A flat signup bonus is taxable and they will issue a 1099. Cash-back on purchases is treated the same way any store coupon would be in that it's a form of rebate.
Im guilty im a credit card churner and do my best not to pay cc fees
Fyi merchants pay about 3% cc fees when we swipe
With you credit card, you are always paying the tourist price instead of local price on anything you want 👎. Cash is King 👑 = best price also negotiation price power to the maximum level 🧠 🧠.
So I just got a credit card but in my 30s I don't exactly know how they work. Isn't it fundamentally another way to use the money you've earned?