Credit Cards: Advantages and Disadvantages | Are Credit Cards A Boon or Bane?
Vložit
- čas přidán 5. 09. 2024
- You can open Your Zerodha Account here: zerodha.com/op...
If you've found a few jargons in this video, that weren't very easy to understand, then may be the best places to START and Learn more about the Stock Market are these videos...
1) Stock Market Basics for Beginners: • Stock Market Basics fo...
2) Complete Zerodha KITE Trading Tutorial for Beginners (Buy, Sell, Account Opening): • Zerodha Trading Tutori...
3) How to learn Day Trading as a Beginner (ft. Nikhil Kamath): • How to learn Day Tradi...
Happy Learning! :)
*****************************************************************************
When was the last time you received a call to get a Credit Card from a bank? If banks are really after us to get a Credit Card, surely there must daal me kuch toh kala, which means they must be not telling us the whole story. But if that’s the case, why did a BILLIONAIRE…Kevin O Leiry ask his son to get a Credit Card?
Billionaires also get a credit card, even when they don’t need it… because there are some secrets about Credit cards that can help you get rich and by the end of this video, I am going to tell you those secrets. So, in today’s video are going to see…
a) 3 Disadvantages of using a Credit Card
b) 3 Advantages
c) 1 Secret Advantage where a Credit Card, which is nothing but a piece of plastic, can help you buy a house.
d) And towards the end, I’ll give you a Bonus Tip to help you understand how to use Credit Cards wisely.
You know the difference between a Debit Card and a Credit Card right? How much you can spend using your Debit Card is decided by your bank balance, but how much can you spend using a Credit Card, is decided by a bank, based on your Credit Limit. We are going to talk more about Credit Cards and Credit Limits in this video.
The 3 Disadvantages of using a Credit Card are:
1. They promote impulse buying. Remember the last impulse purchase you made that you didn’t need? We are going to talk more about why we do impulse buying and how Credit Cards push it further.
2. Credit Cards can put you in a lot of debt. There are a lot of ways that Credit Card companies make money. The most important being interest. In this video, we are going to talk more about the different kinds of interest, taxes you might have to pay if you default on your Credit Card Bill payment.
3. And most importantly, Credit Cards can spoil your Credit Score. If you want to be in India, start a business, buy a house or do any kind of borrowing, having a pristine Credit Score is important. Let’s understand more about what impacts your Credit Score and how Credit Cards can bring it down.
The 4 Advantages of using a Credit Card are:
1. Credit Card have Benefits. But it’s important you figure out what benefit matters to you the most and only opt for the Credit Card that gets you those benefits. There is no point in getting a Credit Card that gives you reward points for filling fuel, when you use public transport frequently.
2. They are Universally Accepted. In this video, I tell you about my Credit Card story, when was the first time I bought a Credit Card, Why and how it helped me travel across the seas without any trouble.
3. Credit Cards Offer Strong Buyer Protection. You’ll know more about how Credit Cards protect you from fraudulent transactions in this video.
4. Now what’s the 4th and the Secret Advantage of Credit Cards, which is the reason why Billionaires also promote using it? Watch the video to know more!
In this video, I not only tell you the general advantages and disadvantages of having a Credit Card, but also share with you my story of how having a Credit Card and building a good Credit Score, has helped me buy a house.
And towards the end, I’ll give you a The Urban Fight copyrighted formula for using Credit Cards wisely. This formula will ensure that Credit Cards only make your life and not break it.
And don’t forget to share this video with your friends who don’t have Credit Cards or who have trouble paying their Credit Card bills on time!
Good luck and happy learning! :)
****************************************************************
You can Download CRED here: bit.ly/CredTUF
****************************************************************
DISCLAIMER: We, The Urban Fight are not responsible or liable for any losses resulting from any kind of investments. Kindly seek professional guidance before investing. By watching this video, you accept that the presenter/trainer and/or The Urban Fight will not be held responsible for any losses in your Trading or Mutual Funds account. Trainer/Presenter of this video is not a SEBI registered analyst or an advisor.
****************************************************************
#CreditCards #CreditCardsTips #CRED #TheUrbanFight #CreditCardsAdvantages #CreditCardDebt
These financial advise series are a boon. THAT is for sure! Thank you Urban Fight!..
I am happy that you find it useful. :)
@@TheUrbanFight yes indeed it is very useful especially for me since I'm 15 y/o , Thank you so very much 😊🥰😊
@@jimmydanilo93 No harm in trying, please how to contact her is very important now
@George Fills Mrs Alicia has changed my life, all thanks to my aunt who introduced me to her
@@andersonbuffin7169 I lost about $5,000 to a scammer before I was linked to Mrs Alicia and believe me she's helped me recover the $5,000 and made an extra of $10,005 in space of a week and 3 days
Whenever I watched your video I learnt something new...Whether it is English or something else..
Thanks a lot mam 😊 or sister...
My pleasure 😊
the life without loan will be happiest... I am a one of the happiest person in the world...
LoL.. the experience of enjoying the life of everything is what Urban life is all about.. I have taken many loans to help my family and cleared them all.. the smile and pride of my family makes me the happiest..
You are in Cool Zone
Taking loans with out intrest is like paying something lesser than what it was before thats what credit card for if u can manage it in 50 days with inflation specially in countries hasn't developed yet.
I buy everything wisely... I put my needs over my wants.. I m a smart buyer I can proudly say that
I bought a cc from *Ericroboti* on telegram best vendor I know and very trustworthy. He sell cc,fullz,Bank,Drops,and Dumps
Sis tell more about coding and programming we want to listen more about those ❤️❤️
Sure 😊
@@TheUrbanFight yaah we want more videos on programming and coding
S mam✌️
Mam coding program sikaona
Yes we need these types of video...
My dad always tell about the usage of credit card... It's advantages and disadvantages... He uses it properly... But I didn't understand clearly... Your videos are just amazing 😍 very simple that I understood it now... Thanks akka 😍
Wohoo. Im happy it was of help Priya. :)
U look amazing priyadharshini
As usual akka came with perfect content... a very useful one.. stay rocking😉
Could someone help me with the urban fight email id? I need a little help needed as I'm about to apply for a maiden credit card
I always put extra money in my credit card💳.
I brought the 5th "The walking dead" T-shirt!!
I am following your channel twodays before Worth information in finance topics - LOVE FROM CHENNAI✌
Taskeen, Have you been speaking english since your childhood ?
We just want an elaborate video on this.
How many did it take for you to speak in english?
How many days will it take for a person who can read english well,write in english clearly, listen to english very well but can't speak english that much fluent?
Hit like guys, if you also want a video like this😉
You can check out her channel there are many videos relating to how she learnt English and all that you want to know.
The best elaboration of the pros & cons of CC...Kudos to you !!
Your smile 💚💚💚💛..🥰🤩
And thanks for recommending the book WPME in one of ur video..
Ur every video is amazing.lots of love from Ladakh mam
How are you liking Word Power Made Easy?
@@TheUrbanFight yeah mam...one of the best book to improve vocab...can u please recommend some more books?
Really very helpful video ✌
I really found your video very useful...it just cleared all my doubts on this... thank you 👍keep going
I want a video on the question that why do you want this job
2 MILLION SUBSCRIBERS❤️❤️❤️
I remember your video of job interview suggested back in 2019 when I was looking for job, now credit now checked it's really worth it I believe ❤️🤗🤗
I was eagerly waiting for your video. .. ☺
Useful information 👍👍
Smiling face full of energy. Liked.
I want to remain SANE so I have subscribed to your channel. Haha
I am also use CRED 2019.... I have 5 Credit card... And my credit score is 851... Sach a Good life... Thank you❤
Excuse the language but I fuxking love you and your advice may you and everyone else in the comment section prosper
And irony is I watched A cred advt. When I clicked on your video
Finally, I am satisfied for having a credit card to think in a good way:) thanks much!!
How is your experience
Wow a very professional explanation.. Got mesmerized with it 😍😍
Do you know who pays for your Credit Card Rewards? Ans: General Public who is paying via Cash, Netbanking, and Debit cards.
Stores(both online and offline) have to pay interchange fee to the credit card companies. To offset this interchange fee, stores include this interchange fee in the product's MRP. MRP is same irrespective of the payment method(cash, netbanking, debit or credit card).
So general public, who is NOT using credit cards is also paying this interchange/transaction fee. This is the reason why many stores do not charge anything extra for credit card swipes, as the interchange fee will get recovered from non-credit card users.
Credit Card companies give fraction of this interchange/transaction fee as rewards to the credit card users.
Information Courtesy: Vox
@SULEKHA KUMARI yes. However, interchange fee is not the only way credit card companies make money. Credit card companies mAke money money via late payment penalties, Annual card charges, personal loans etc. so we cannot accurately know how much of burden is it on non credit card users.
Paytm started to charge 2%extra for its wallet recharge using credit cards
This has been one of the best videos on usage of any credit card for that matter I have ever seen. Simple, lucid yet so precise and accurate information was stated. I immediately pressed the subscribe and like button
love her videos, so precise... and the way she adds desi lines in between
Waiting for next one ....
The generosity, point to point- ness, honesty made me subscribe the channel without any other thoughts
U r awesome
I am watching your videos to improve my communication and capture your pronounciation🤩🤩 thanks a lot for clear explanation 😊😊
Thank you for the video.. very helpful for novice 👍
Your videos are like treasure, there is so much of valuable information in them.. Thank you Urban Fight 😊
nice information
india ki sabse khush youtuber
Mam, your videos are really helping me a lot. Thank you soo much!!
why are you not making videos frequently?
Apple Watch @1.30 am I bought when I was just surfing apple products then had to gift 😅😅
Oops. That would've cost a lot.
Hey today morning I saw sugandh sir
Felt very happy....🕺🕺🕺🕺
Good news is this now credit card connect with UPI as according RBI guidelines jun 2022
I used for paying my health insurance...it's all about priority
Never had a credit card. Never applying for one.
Don't buy SBI Credit card, If they ask for a card, then just ask them how to stop or close a card in the future.
card block any time but they don't have any specific option for the close card. most important SBI bank and SBI credit card are not the same company. SBI bank does not help us regarding credit card issues.
Really helpful
Yeah very true. I've faced this hassle. I got approached for an SBI credit card and I took it. Shopped for ₹7k and I had to repay back ₹15k in a few months. Don't even want to think of that experience. I got my card shut by them and threw it. What a lesson it was. Hope to take wiser decisions in the future.
Omg....thanx a lot❤️
I have hdfc indian oil card..
OMG.. just got SBI credit card..
Thank you dee really like your vedios am ur very old subscribe thank you for the informative vedios.
Yoooo I so much enjoyed your delivery, I struggle to concentrate on the content, instead of the delivery😁
just a quick piece of information, these credit scores which are shown in the CRED app aren't legitimate, Bank doesn't use these scores they use different ones which are generally less than 90 points shown in this app.
U know anything about investing foreign stock market from indian through any brokers or can u make any youtube videous regarding this
I just found this channel and I liked what I saw. Looking forward to watch more. Great Job!
Even before u started I smashed the "big fat like button" bcoz I know I'm gonna like it....
Hi ma’am your new student from Bangladesh
Yes... Impulse buying... We tend to take stuffs which we actually not needed....
Love you mam because I learn English from your channel. Thanks a lot
A credit card is a good thing. The only problem is that very few people know how to use it properly. Using CC and paying it regularly shows the bank your ability to pay back and helps to increase your credit scores. So next time, don't shy away from using the credit card but use it sensibly.
#revampmind
how do you pay the credit you used back to the bank???
Bank gives you the option to pay 5% of the total owed amount every month...if you cannot pay the total amount you owe within 55 days of your bill due date, then try paying more that 5%. Eg instead of Rs.500 pay Rs.1000...hope it helps
Best knowledge mem
Tq.. Waiting for this video.... From long time. Mostly am going thru disadvantages.... Its very Helpful.. For us...
This was SO helpful!!
Just 2 min. ago, I got a call from my banker offering me a credit card. And I gave the same reaction.
First impression is best impression ..this is my first video I am watching in this channel and made me to subscribe
Hi, I have few questions. it will be great if you answer those
1. Having 1-2 credit cards, does this impact while applying home loan?
2. Paying atleast min. amount for few months, does this impact our credit score?
3. What is good score to get home loan?
Thank you for videos you share, its very useful.
1. yes.
2. depends if your minimum is 40.00 and your monthly bill is 395.00 then thats not good. but if your minimum is 40.00 and your bill is 95.00 thats no big deal these are just examples.
3. score isn't important what's going on with your credit is what's important.
@@marksantucci4230 if the minimum is 40 and paid back 50. Will it still have a negative impact on my credit score?
@@jennifervli3106 No . so let's say your monthly bill is 125.00 your minimum payment is 40.00 and you paid 50.00 dollars that's fine.
now if your bill is 550.00 and your minimum payment is 40. and you paid 50.00 this probably wouldn't be good.
Thanks for your video💯💯❤️❤️
now in 2023, as I'm travelling to USA for my education, just as you, I feel the need to get a credit card :)
Hey! I am watching your videos 2-3 weeks & your video stuff is fantastic you are inspirational role model for every guy👏👏
Amazing😍😍❤
Please keep sharing more such insights!
It is really helpful for millennials who eagerly want credit cards but dont do extensive research about it before hand!
Keep up with the good workk🔥🔥
Does payment of credit card right after the transection help us build a good credit score OR Payment on due date can do the same?
Very well presented video! Super informative! And yea smashed the like button! 😁
Hi ...I enjoy all your videos...I have a request to you...could you make an HR interview video on how to crack HR interview after a career break...I mean break due to marriage and kids upbringing...I am sure there are lot of ladies eagerly waiting for this video...Thank you
No words just SUBSCRIBED.
Keep up the good work.
Bcoz of your channel, I learnt a lot about finance which I never learnt in school or by my commerce-loving family. Your channel has helped a lot to understand finances better.
And Auro ka to pata nhi but i want to know more deeply about credit card kindly make some more videos
this credit card video is so useful and will be alert us to use wise it and how we can increase our credit score, you rock, thanks adv. sanjiv deshle pune
Hi akka I'm waiting for your videos i want more videos helpful for me
Your videos are awesome every time I learn something new thanks sis
I don't know abt CRED but u r certainly Boon for us. Thnkx🙏.Lots of love.N Happy Diwali.
Which software or app do you use in your video for adding those cool writing along while the video is playing?
Please reply
Good points. Glad to know all these and even better that i actually knew all this before hand so this helped me make my knowledge & habits more concrete. Good score and emergency funds, that's all the end result we all aim for when getting a credit card everyone should remember that.
Thank you so much for teaching me about credit cards!❤️. Very useful and you are amazing 🤩..Please make a video on sensex!
😃 good info.
Have u ever applied for a data entry job when u were a fresher...can u please make a video for it..and let us know about your experience..
Awesome presentation. I smashed the like button for the word "Smash" and subscribed to your channel for the word "Sane". Good information when presented well becomes excellent information. Thank you for your effort and time.
I subscribe even though it's my first time on your channel, I like the way you talk ❤️
I LOVE YOU YAAR, The way you talk, I just want that if I can convert your video in a conversation and talk with you in the same manner.
You are the best and you are just the best. ❤❤
Helo my sis your videos are helpful thank u...
Thank's Mam
Just Cautious & basic Information Make A video on Behoof Of Credit Card..
U explanied calmly to us thank again and abderian
I am saba class 6th ☺
Thanks for advise mam
So if we don't want to take money on loan and don't have to pay to international vendors, then no credit card needed.
So my decision was right, I don't own credit card. 😊
I hit like before completing video😀😀
Like the video...Thanks for making it...Game of thrones T-shirt and the nice, wide smile. Amazing as always....
Waiting for your new video ma'am! It's been a long time!!!!!!
Sister say about what is atm how it works
Waiting for next video
Can u make a video on procedures to start a small company . Different options such as LLC and LLP etc
Financial literacy matters... I knew but still watched . We all need to learn about those things
Btw mam your content is actually veryyy great it helps us a lott
How the number of credit card more than 1 or 2 cards is negative. Does it affect your credit score unless the payment is on time.
I feel having 2 or 3 is better as we can get diverse reward options. Also different billing cycle for those cards can help getting most number of interest free days.
Thank you so much for always motivating me.
Plz can u make a video for carrer selection for children age 15 plz
Perfect advertising of cred. Full of information and best way to convert audience. Thanks urban fight
Credit card big impact my life because I buy credit card i think at the time it's useful my life i realised but 1month after i am could not pay credit cards it's lead many problems create affect my life
plz...make video on how to became a commercial pilots with all the names of the exams that are conducted for it.