On 240p, you can't even see the car park in the garage. With 1080p? Well, you'd be able to see almost everything including the oil dripping from under the hood if there's a leak.
I’m kinda dumb but when you have a job and you get paid it comes in a check, so where does the money go in your credit or debit card? Or does it become cash?
@@happyhye5266 It depends on where you deposit the cheque. You can put it in your chequings account that's linked to your debit card. You can tell your bank to apply it directly towards your credit card balance. Or you can ask the bank to convert it to cash for you (they will typically deposit it into one of your accounts first).
@@jaredsantos6457 there's no need to have a credit card, ever. Debit will get you through. Why the hell should you borrow money from the bank to pay your groceries?
@@AlexanderGeorge I mean I get the idea. If you are able to control yourself and pay the whole balance back at the end of the month there can be benefits to credit, raising your credit score for one. I'd suggest that if you have a steady and sufficient source if income though.
This video is very informative and easy to digest. Though, credit should not be seen as the emergency fund, as it can lead you to spiral in interest. The main benefit of credit cards is score building and perks/rewards.
@@admiralkipper4540 yeah my father has 2 debit cards. He has 1 creditcard just as a backup if he needs it some day. He never used it as of now and wants never to use it. He is thinking as a kinda rip off, you pay it, but the bank pays it for you. And wants money for that. And thats what is kinda wasted money. Thats what he told me.
As long as you responsibly pay your full balance on time, choose credit cards where the annual fee is worth it (or no annual fee), and freeze your credit, then you're going to be rewarded by banks in terms of free travel, free lounge access, free hotels and low interest rates. I'm starting out with a Discover It card and am hoping to get a business credit card the next couple of months or so.
If you’re financially disciplined and have steady income, I recommend using a credit card. I get about 0.25% off my purchases (through reward points), shoppers protection insurance and so on and I never pay interest because I pay my credit card off in full every month, so the debt never gets out of hand. I got my first credit card as soon as I turned 18 (the legal limit in Australia) because I wanted to shop online (paypal and debit cards didn’t really exist back then). The bank gave me a $1000 limit, I called them up, said it was too much and asked for the lowest, which was $400. Now I’m a little more grown up, so the purchases have increased (e.g. getting a car and then paying insurance is an easy 1000+, going on holidays and flights are $1000+) so I have upped the credit limit with the bank. I only keep 2 credit cards, 1 of which is purely for international transactions as it has no fees and gives a decent exchange rate. That said, I’m most likely an extreme outlier as I’m highly averse to debt. Sometimes I’ll overpay my credit card to bring it above it’s credit limit, particularly if I know a big purchase will be coming up. I hope my story helps somebody. I wouldn’t recommend getting a credit card if you have no financial discipline.
This is a strange video for me as a Brit. 1. Nobody has ever asked me 'credit or debit?' only ever 'cash or card?' 2. I can use any bank's ATM to withdraw cash for free with my debit card 3. Neither is more secure, both require chip & pin, except for purchases below £30 which can be contactless 4. Both my credit and debit cards let me view my transactions online, mobile or PC 5. I have no idea what an ATM card is (had to Google that one) 6. There are also perks associated with some debit cards, like interest on balances, cashback on purchases or bills. You can also get things like insurance if you choose a premium card 7. I can in theory get cash out with my credit card at an ATM, but I would be charged a hefty fee by my credit card company Nice video though! Nailed the key differences well.
The video is great, but it oversimplified paying interest on credit cards. It started with the contrast that you pay interest with credit and not debit. It mentions that if you keep a balance from one billing cycle to the next, “you’ll most likely have to pay interest.” It should have stated outright that you don’t have to pay any interest when you pay everything at the end of your billing cycle. This video gives off the impression that credit cards cost more to use than debit and that isn’t giving it a fair comparison.
Because eventually you'll want to buy a house. And most people won't be able to pay for that upfront. A credit card is a good way to prove to banks that they can trust you with loans, so eventually, they'll lend you the money to buy a house. Borrowing a bit of money (via credit card) is also a good backup option to have in case something unexpected happens. It's much better than a "small personal finance loan" for instance, where you will pay extremely high rates of interest.
If you stay local and don't travel internationally a debit card will be fine. And you shouldn't have a credit card if you are irresponsible. Majority can't handle their finances and like a child with loaded gun. I personally use my credit card like a debit card and prepay for everything. Autopay $150.00 a week to my card because I buy groceries and gas weekly. I have about $600 cash in my Visa credit card account currently. Been doing this for over 30 years and in 56 countries. Credit card is just a powerful tool for moving cash for me. Only use my debit card for getting cash especially foreign currency.
I have both a credit and debit card.I use my debit card for ordinary things like groceries and my credit card for more expensive items,but I always pay my full bill on time and I never let my spending exceed my income.
CREDIT - transactions are processing through the credit's networks terminal. DEBIT - transactions are processing through an ATM networks..once you input the PIN you can get some cashback if you like too.
You don't have to worry about your credit card interest rate if you pay your balance in full every month. As long as you don't charge more than you can afford to pay back at the end of the month, its a non issue. I like using mine to continue adding to my credit history as I'm in my mid 20s and currently only have about 6 years of credit history.
@@josephb.3841 Read his username, does he seem like the kind of guy who watches videos until the end, or like the kind who watches the first 10 seconds and gets bored?
A tradeline means that you are a authorized user of someone else's credit card. You don't have to have possession of the card, but their credit history will reflect on your credit report...a parent or family member with EXCELLENT credit can be a "tradeline" I graduated college with 97,000 in debt"...that right there is a Huge problem..schools have become a business that drain students of money and yet, no one is stepping in to help the students who then graduate with massive debt and have difficulty paying it off...Having that much debt can be overwhelming for ANYONE...Especially a young 20 something who hasn't even began their career. But i really thank you for this video because i found Leo and within few weeks they fixed my Credit score which is hindrance by student loan and added a large tradeline thanks a lot Creditbackdoors🟡com
Interesting! I still think "credit score" is one of the greatest scams and discriminators of our time! When I paid off all my debt, my score went down significantly. Money in the bank, cash flowing paid for rental houses but nope, banks do not like that. No wonder the system went upside down! Really wanted to emote bad records and inquiries off my credit repott i came across CREDITBACKDOORS🟡COM just recently after i've been using Lexington Law for over two years, I'm glad i have a clean profile Now.....
Interesting! I still think "credit score" is one of the greatest scams and discriminators of our time! When I paid off all my debt, my score went down significantly. Money in the bank, cash flowing paid for rental houses but nope, banks do not like that. No wonder the system went upside down! Really wanted to emote bad records and inquiries off my credit repott i came across CREDITBACKDOORS🟡COM just recently after i've been using Lexington Law for over two years, I'm glad i have a clean profile Now.....
Just use credit card as debit card (i.e while spending think like money is being spent from your bank account and you don't want to buy something that you don't need or it's value is not worth the amount in your bank account ) and pay the amount in full before the due date and you will be fine. It will not only increase your credit score but also not put you in a interest debt.
If you have online banking you can check your bank account to see if you have enough money. This should ensure that your Debit Card is not declined. It takes only a few minutes to do this. If you do not have enough money then do you really need what you want to buy or can you wait?
The homing Pigeon only if it’s a visa or MasterCard debit card. My client card from RBC doesn’t have a expiry date or Ccv. Just the number, so I can’t use it online
Cons for debit cards: - Cannot pay monthly installments on any purchases, only credit cards can. Cons for credit cards: - Need a target annual income (or how much you earned every month) to apply. - You need to have a job to make the application works. I wish that someone will invent a debit card where you can and allowed to pay monthly installments on certain purchases in the future. Not sure about prepaid cards since I never own one.
So basically Credit card: Borrowing money, pay back on specific date, failure to do so will lead into paying the amount do +interest. Debit card: money from your bank account.
My card is a debit card but I can use credit, and I don’t have to physically go into my account and pay for the credit purchases. It just takes the money out of my account in a few days!
No person under 18 is allowed to get a credit card, under federal law. But, once you're 18, you should seriously consider opening (and maintain in good standing) several credit cards. It will do you a huge favor to have several years of perfect payment history on your credit reports when you're 25 and looking for a mortgage. And no, NOBEL DJ, that only applies to irresponsible people. Credit should actually _always_ be used.
Thanks for explaining, Im a muslim, Credit is not allowed and its a scam in my opinion. I will apply for a debit card, so i can spend only the money i have without having to pay fees or getting rewards.
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@@JamesBond-kc4ht well if you use a credit card irresponsibly it will be very destructive for you, but if you use it responsibly, only spend what you can afford, and pay off the full balance every month, you can get rewards and better fraud and purchase protections than you would with a debit card, why do people think credit cards lead to certain financial ruin?
you pay the money out of a bank account typically, usually by a wire transfer from your current account, though you can also pay it off at a branch in cash
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That's what my family is trying to explain to me. My sister told me that I don't really need to get a credit card as long as I have control in spending my money using my debit. But my mom said, it is important to have at least 1 credit card to build your own credit score because she said it's a big help if I want to buy my own car or house someday. But the thing is, I don't really know how it works. I'm afraid because I just got here 3 months ago and now i'm working so I am earning some money and i'm using debit card.
Basically, when you get a credit card, the bank begins reporting your credit history to the three credit bureaus (Equifax, Experian, and TransUnion). When you apply for an auto loan or mortgage, they will acquire a copy of your credit reports from the aforementioned bureaus and determine if you're responsible enough to use credit. If your reports all show several credit accounts with 100% on time payment history, you'll likely be approved for a loan with a great interest rate. If you have bad payment history or no credit history at all, you'll practically be denied for any loan. That's why it's important to start applying for credit cards as soon as you turn 18, and just leave them to age with you. It will really help when you're older and want to buy a home.
Now let's discuss the difference between 240p and 1080p
😀
Its 5 years old so yeah, i guess they didnt have 1080 back in 2013
On 240p, you can't even see the car park in the garage. With 1080p? Well, you'd be able to see almost everything including the oil dripping from under the hood if there's a leak.
😂
LMAOOO
Schools really need to teach this stuff.
Negative_9 and parents need to inform their children.
My school had a mandatory Personal Finance course. Goes into mortage, economy, savings, taxes, credit, debit, etc.
@@abowlofsalad8812 same as my school. But my parenys also tell me about this too
Schools teaches this in canada.
Absolutely, but again... they're too busy teaching us subjects we WON'T use. -w-"
Have both.
Debit for everyday payments and credit for emergency situations.
Makes sense
wise descision
I don't even have to watch the video after reading this
you smart.
@Brice van der Post true, but it's some people don't want the extra head ache by paying off credit cards
Debit = personal savings, limit
Credit = not your own, interest
Philip Justin Magbanua no interest if you pay it off in full, credit cards also have limits btw
For credit cards it best to only use 25 percent of your limit.
Does a credit score go up when you use credit tho
I’m kinda dumb but when you have a job and you get paid it comes in a check, so where does the money go in your credit or debit card? Or does it become cash?
@@happyhye5266 It depends on where you deposit the cheque. You can put it in your chequings account that's linked to your debit card. You can tell your bank to apply it directly towards your credit card balance. Or you can ask the bank to convert it to cash for you (they will typically deposit it into one of your accounts first).
Credit card: wanna have money without having money
Lies again? All credit goes to me
I like these kind of videos. Full of information to new comers like me on this topic of debt or credit.
Dennis Thompson Jr. Yasss 🙌💳
Too bad this channel isn’t the original source
Debit = Just Starting Out
Credit = Stable Flow of Income
Very Doge idiotic comment
you are idiotic alexander
Alexander George that’s actually kinda true if you want to give your teen a card give them a debit to start out
@@jaredsantos6457 there's no need to have a credit card, ever. Debit will get you through. Why the hell should you borrow money from the bank to pay your groceries?
@@AlexanderGeorge I mean I get the idea. If you are able to control yourself and pay the whole balance back at the end of the month there can be benefits to credit, raising your credit score for one. I'd suggest that if you have a steady and sufficient source if income though.
0:50 those are some bigass cards
Huge ASF!!!
4:42 😂😂some big cardss
😂
@@zelzel05 7:27 BIG CARDS
This video is very informative and easy to digest. Though, credit should not be seen as the emergency fund, as it can lead you to spiral in interest. The main benefit of credit cards is score building and perks/rewards.
As a wise man “treat credit as if it’s your own money”
So true.
or just get debit and actually use your own money
Union debit is for people who can’t manage their money
@@malacki6554 debit is for people who have money to manage
@@admiralkipper4540
😦
I'm learning more then school ever taught me thank you so much
* laughs in American Express Platinum *
* cries in massive debt*
Hahaaha. Banking!
But that’s a charge card?? Unless you’re using that “Pay Over Time” ‘feature’.
sucks to suck if you have American Express in Australia you can’t buy most things
Pay the total amoount foo!
I love the narrator's voice so much
Thanks for the video I am about to give my son a credit card. And a debit card. And I just made him watched this so he understands.
@Baiel Asan why did you put son in quotations?
4:23 that rewind sound effect 🤣
yeah, i'll stay with Debit cards.
same
It’s still important to have a credit card. It’ll raise your credit score
if you know how to handle your money properly you will likely never use it anyway
@@admiralkipper4540 yeah my father has 2 debit cards. He has 1 creditcard just as a backup if he needs it some day. He never used it as of now and wants never to use it. He is thinking as a kinda rip off, you pay it, but the bank pays it for you. And wants money for that. And thats what is kinda wasted money. Thats what he told me.
As long as you responsibly pay your full balance on time, choose credit cards where the annual fee is worth it (or no annual fee), and freeze your credit, then you're going to be rewarded by banks in terms of free travel, free lounge access, free hotels and low interest rates. I'm starting out with a Discover It card and am hoping to get a business credit card the next couple of months or so.
*_I'm bisexual , so I choose both._*
When I am bi and have a 2 in 1 card...
Makes sense
@tomto! lmao😂
Wtf that’s not how it works I-
Also that’s what she said haha
Sooo I've been really struggling to understand the concept of the above and this helped me sooo much thank you so much
I wish schools would be this clear and teach this kind of useful information
I show this to my class each year. Very easy to follow.
If you’re financially disciplined and have steady income, I recommend using a credit card. I get about 0.25% off my purchases (through reward points), shoppers protection insurance and so on and I never pay interest because I pay my credit card off in full every month, so the debt never gets out of hand. I got my first credit card as soon as I turned 18 (the legal limit in Australia) because I wanted to shop online (paypal and debit cards didn’t really exist back then). The bank gave me a $1000 limit, I called them up, said it was too much and asked for the lowest, which was $400. Now I’m a little more grown up, so the purchases have increased (e.g. getting a car and then paying insurance is an easy 1000+, going on holidays and flights are $1000+) so I have upped the credit limit with the bank. I only keep 2 credit cards, 1 of which is purely for international transactions as it has no fees and gives a decent exchange rate. That said, I’m most likely an extreme outlier as I’m highly averse to debt. Sometimes I’ll overpay my credit card to bring it above it’s credit limit, particularly if I know a big purchase will be coming up. I hope my story helps somebody. I wouldn’t recommend getting a credit card if you have no financial discipline.
This video will make a fine addition to my collection.
Wow that was an awesome presentation...understood it well... now I know the difference very well..thank u
This is a strange video for me as a Brit.
1. Nobody has ever asked me 'credit or debit?' only ever 'cash or card?'
2. I can use any bank's ATM to withdraw cash for free with my debit card
3. Neither is more secure, both require chip & pin, except for purchases below £30 which can be contactless
4. Both my credit and debit cards let me view my transactions online, mobile or PC
5. I have no idea what an ATM card is (had to Google that one)
6. There are also perks associated with some debit cards, like interest on balances, cashback on purchases or bills. You can also get things like insurance if you choose a premium card
7. I can in theory get cash out with my credit card at an ATM, but I would be charged a hefty fee by my credit card company
Nice video though! Nailed the key differences well.
It’s possible to have a non contactless card in the UK, you just have to request one.
@@louisoft01 That is true.
The video is great, but it oversimplified paying interest on credit cards. It started with the contrast that you pay interest with credit and not debit. It mentions that if you keep a balance from one billing cycle to the next, “you’ll most likely have to pay interest.” It should have stated outright that you don’t have to pay any interest when you pay everything at the end of your billing cycle. This video gives off the impression that credit cards cost more to use than debit and that isn’t giving it a fair comparison.
4:15 why would I spend money that I don't own?
Because eventually you'll want to buy a house. And most people won't be able to pay for that upfront. A credit card is a good way to prove to banks that they can trust you with loans, so eventually, they'll lend you the money to buy a house. Borrowing a bit of money (via credit card) is also a good backup option to have in case something unexpected happens. It's much better than a "small personal finance loan" for instance, where you will pay extremely high rates of interest.
i'm sorry, that question does not compute.
to get rewarded for using other people's money responsibly
Answer: Why wouldnt you?
@@kizzykam4517 smart answer
I think debit cards are the best
Archie Giffard I agree
Yup
If you stay local and don't travel internationally a debit card will be fine.
And you shouldn't have a credit card if you are irresponsible.
Majority can't handle their finances and like a child with loaded gun.
I personally use my credit card like a debit card and prepay for everything.
Autopay $150.00 a week to my card because I buy groceries and gas weekly. I have about $600 cash in my Visa credit card account currently.
Been doing this for over 30 years and in 56 countries.
Credit card is just a powerful tool for moving cash for me.
Only use my debit card for getting cash especially foreign currency.
Yep.. You won't get arrest because you need to pay first at the bank or something before you use it ;)
You can’t really use them online
Thanks. It was everything I ever wanted to know between them. Thanks again. Liked your video.
Excellent Presentation ... Informative; Succinct and To The Point!
(NO Robot-Type of Voice - - LOL!)
informative video
I love the drawings this keeps me interested in learning more , what’s this gentleman’s name? Anyone know please tell me if so.
I'm getting my first debit card from the bank in a few days! I'm so happy!
Best explanation video
Thank you this is the shit schools dont teach u
I like this video. Thank you. I have owe BOA credit and debit card.
I don't know why I like the girl drawed in the presentation. She is the style I love...
gavin chi lol😂😂😂
Well Finally
A video that’s really helpful
I wanna Thankyou so much 😁
I have both a credit and debit card.I use my debit card for ordinary things like groceries and my credit card for more expensive items,but I always pay my full bill on time and I never let my spending exceed my income.
0:25 - 0:33 the "hm" and "do ya?" Makes me feel like i'm about to be lectured by my mom 😂
CREDIT - transactions are processing through the credit's networks terminal. DEBIT - transactions are processing through an ATM networks..once you input the PIN you can get some cashback if you like too.
You don't have to worry about your credit card interest rate if you pay your balance in full every month. As long as you don't charge more than you can afford to pay back at the end of the month, its a non issue. I like using mine to continue adding to my credit history as I'm in my mid 20s and currently only have about 6 years of credit history.
interesting how your value as human is solely measured by how you pay debt
I’m a 12 year old boy trying to be financially responsible and make the best money decision so thanks
Me too I’m learning this rn in online school...;-; I don’t understand my sheet cause we do a full in the blank
it's very nice of you to be responsible with money at a young age. keep it up!
I am sathish from India, Very Nice Sir... Debit Card Good
you're a good artist
black bandit sunrise he's not drawing
JimbroBurrito Lol
If you watch until the end you will see that it’s made by the Bank of America
@@josephb.3841 Read his username, does he seem like the kind of guy who watches videos until the end, or like the kind who watches the first 10 seconds and gets bored?
People in the comments: “I think credit cards are better” , “I think debit cards are great”.
Me reading the comments : “I think we all sing”.
A tradeline means that you are a authorized user of someone else's credit card. You don't have to have possession of the card, but their credit history will reflect on your credit report...a parent or family member with EXCELLENT credit can be a "tradeline" I graduated college with 97,000 in debt"...that right there is a Huge problem..schools have become a business that drain students of money and yet, no one is stepping in to help the students who then graduate with massive debt and have difficulty paying it off...Having that much debt can be overwhelming for ANYONE...Especially a young 20 something who hasn't even began their career. But i really thank you for this video because i found Leo and within few weeks they fixed my Credit score which is hindrance by student loan and added a large tradeline thanks a lot Creditbackdoors🟡com
Interesting! I still think "credit score" is one of the greatest scams and discriminators of our time! When I paid off all my debt, my score went down significantly. Money in the bank, cash flowing paid for rental houses but nope, banks do not like that. No wonder the system went upside down! Really wanted to emote bad records and inquiries off my credit repott i came across CREDITBACKDOORS🟡COM just recently after i've been using Lexington Law for over two years, I'm glad i have a clean profile Now.....
Interesting! I still think "credit score" is one of the greatest scams and discriminators of our time! When I paid off all my debt, my score went down significantly. Money in the bank, cash flowing paid for rental houses but nope, banks do not like that. No wonder the system went upside down! Really wanted to emote bad records and inquiries off my credit repott i came across CREDITBACKDOORS🟡COM just recently after i've been using Lexington Law for over two years, I'm glad i have a clean profile Now.....
schools need 2 learn stuff like this.It is very usefull
I’m in gr 7 and my teacher has taught me how to apply tax discount and more this is helpful for the future and x=2 is not
lol
☠️
Very Nice video dude
Taught me a lot
That was helpful
😊😎👌👌Goooood video
You explained it very well. Thank you for the info
Applause my dude, you helped this guy out!
Just use credit card as debit card (i.e while spending think like money is being spent from your bank account and you don't want to buy something that you don't need or it's value is not worth the amount in your bank account ) and pay the amount in full before the due date and you will be fine. It will not only increase your credit score but also not put you in a interest debt.
If you have online banking you can check your bank account to see if you have enough money. This should ensure that your Debit Card is not declined. It takes only a few minutes to do this. If you do not have enough money then do you really need what you want to buy or can you wait?
What is the difference between fee and interest
Interest is the cost of borrowing money while fee is the money you pay for service.
Which best win for debit card or credit card?
Thank you for explaining :D
Debit cards for the win :P
Hele to je Adam! But you can’t really use them online
@@darrenwoloshyn yes you can lol
The homing Pigeon only if it’s a visa or MasterCard debit card. My client card from RBC doesn’t have a expiry date or Ccv. Just the number, so I can’t use it online
@@darrenwoloshyn So get a VISA one?
@@somerandomguy2073 Or a Mastercard one?
Cons for debit cards:
- Cannot pay monthly installments on any purchases, only credit cards can.
Cons for credit cards:
- Need a target annual income (or how much you earned every month) to apply.
- You need to have a job to make the application works.
I wish that someone will invent a debit card where you can and allowed to pay monthly installments on certain purchases in the future.
Not sure about prepaid cards since I never own one.
they won't allow it.. credit card will lose its edge and less people will be in debt trap
So basically
Credit card: Borrowing money, pay back on specific date, failure to do so will lead into paying the amount do +interest.
Debit card: money from your bank account.
in a sense yes, but credit cards often have rewards and have much more robust fraud and purchase protection
Very great video ❤
Thank you so much ❤
How come schools don’t talk about this important factor of our future.
nice video
What's a platinum debit card at wells Fargo
My card is a debit card but I can use credit, and I don’t have to physically go into my account and pay for the credit purchases. It just takes the money out of my account in a few days!
Can you have both?
How is it a con to get decline for purchasing something you have no money for? I mean why would you buy something you have no money for?
Use credit unions. You can take money out of any credit union’s atm without any fees.
Debit is good for kids
credit should never be used
makes you spend more espically when you are “paid to spend”
NOBEL DJ thank you for telling me because I didn't now
No person under 18 is allowed to get a credit card, under federal law.
But, once you're 18, you should seriously consider opening (and maintain in good standing) several credit cards. It will do you a huge favor to have several years of perfect payment history on your credit reports when you're 25 and looking for a mortgage.
And no, NOBEL DJ, that only applies to irresponsible people. Credit should actually _always_ be used.
the fact mortgage is even a common thing today shows you how fucked up shit is right now
@@admiralkipper4540 how
Question: if you pay the full amount you spent with your credit card on time, do you still have to pay interest?
Nope
no, not a penny
Here cuz of online school ;=;
Thank you for explaining. Now everything's clear for me about debit and credit cards.
Thanks for explaining, Im a muslim, Credit is not allowed and its a scam in my opinion. I will apply for a debit card, so i can spend only the money i have without having to pay fees or getting rewards.
good explanation
you should feel good about yourself you just helped a 6th grader with there math to this 6th grader it is so much easier to do there work thank you
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This is very clear and I hope then every credit card works the same.
So I’m 21 just got my first credit card. Let’s say I get $65 worth of gas. Do I pay it off on my banking app or how does that work?
Credit cards are basically delaying your payment for a month while you gain credit score if you pay it on time.
Martinez is legit and reliable ( NO UPFRONT PAYMENT)
Have worked with him some months back and believe me he’s one of the legit hackers he’s the best if you need help with paying off debt ,credit score fix , credit card ,bank account,phone hack, PayPal hack .
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So a debit card is great starting off with but over time it'd be great to switch to a credit card right?
debit cards are safe.
credit cards are meant to loot you
@@JamesBond-kc4ht well if you use a credit card irresponsibly it will be very destructive for you, but if you use it responsibly, only spend what you can afford, and pay off the full balance every month, you can get rewards and better fraud and purchase protections than you would with a debit card, why do people think credit cards lead to certain financial ruin?
What happen if I have a credit card and I don’t use it
Where do we pay back the money we spent from credit card? From debit card to credit card? At bank?
you pay the money out of a bank account typically, usually by a wire transfer from your current account, though you can also pay it off at a branch in cash
Thankyou. Very informative video
Thank you very much sir very informative, I don't have to go to the bank and ask for what I have just learned, thanks again.
I'm only here because I've got my new debit card for under 18's as a 12 year old :')
@tomto! I don't even have one and I'm 18
Who don't like this video.This video is excellent.
who else was made to watch this for school?
#homelearning #quarrentine
Me
Me
Thansk alot... That helps me out so much
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Good info
nice
Thanks for helping. May God bless you !
I’m here because of my teacher
wow this video was amazing and so educational.. thank you!
What about online shopping you can only use a debit card rarely online, but a credit card you can use everywhere
Darren Woloshyn u can use a debit card online quite a lot
That's what my family is trying to explain to me. My sister told me that I don't really need to get a credit card as long as I have control in spending my money using my debit. But my mom said, it is important to have at least 1 credit card to build your own credit score because she said it's a big help if I want to buy my own car or house someday. But the thing is, I don't really know how it works. I'm afraid because I just got here 3 months ago and now i'm working so I am earning some money and i'm using debit card.
Basically, when you get a credit card, the bank begins reporting your credit history to the three credit bureaus (Equifax, Experian, and TransUnion).
When you apply for an auto loan or mortgage, they will acquire a copy of your credit reports from the aforementioned bureaus and determine if you're responsible enough to use credit. If your reports all show several credit accounts with 100% on time payment history, you'll likely be approved for a loan with a great interest rate. If you have bad payment history or no credit history at all, you'll practically be denied for any loan. That's why it's important to start applying for credit cards as soon as you turn 18, and just leave them to age with you. It will really help when you're older and want to buy a home.
thank you very much!
you explained it better than my mom
Getting a debit card gonna vibe with it
The video was really helpful on helping me understand plastic money. ^_^
Great explanation. I own both credit & debit cards. I find out both are useful to me :)
sorry some debit cards can give discount if we pay it on the card and cashback in settlement in Singapore|