@@Frank-wb1jzThat’s my exact question, but from what I’ve seen, a debit card is where you put your money in, buy somma and it’s gone. A credit card is where you buy somma, your bank pays for it and you pay them back later. But what if I don’t want to be in debt, can they just take the money out immediately rather than all that hassle. But I guess that’s where the question is answered: you put money into your acc (has to be) and then they take it later and if say your scammed on eBay, they get your money back.
It sounds dumb to use a credit card Like if you can't afford something why buy it and why put yourself under the pressure of paying it back to the bank?
honestly if you can't afford food then there is something working with your money management assuming you earn an income, And i think most poeple use credit cards to buy what they want not what they need @@unusuariocualquiera2149
just spend it below 2/3 or even 1/3 of your monthly income , it saving most valuable item you have limited amount : *Time* , let say you really craving a bigmcdonald meal and the paycheck is arrive in 2 weeks , just use the debit card and then pay it on time when paycheck arrived ( which mean no trouble will exist ) . sometime they run promo such as " cashback " to make you spend money with debit card , just do it but remember the golden rule -> only 1/3 or abit close to 2/3 of monthly income .
Theres a couple of different reasons why you would. One of the big ones is getting a percentage back as points. Like amex gold gives 4% back as points that you can use for other things, or other cards with 2% to 3% cash back. So you basically get a decent discount on almost anything. Also can save you from people stealing your info and withdrawing cash from your accounts. But only use them as you would your debit and pay them off every month. Only time there is pressure is if you use them stupidly and let interest build.
Credit cards help build your credit score wich can help you when you want to buy a house or a nice car, also with some credit cards you have points wich you can get free travel with, cash back etc.
A bunch of cards have cash back which lets you save with discounts on a lot of purchases. And it protects you from people using skimmers when they try to steal from your account. Its only a scam if you’re stupid and let interest build by not paying it off.
That time from point of sale to when the bill for your credit card balance is due, btw, is called your grace period. Fail to pay off the credit card balance within that time frame, and that’s when the late fees and high APR interest will apply. You don’t want that. Food for thought.
The great thing about credit cards is they enable you to keep your own money in savings and accrue interest on it whilst spending the bank’s money interest-free as long as you pay your credit card off in full every month.
Thank you for the video, super clear, very concise and easy to understand T-T wish all financial content was as easy to understand as this. Keep it up man! :))
Is there anything you can’t do with a debit card that you can do with a credit card? My school finance class is saying to not use credit cards. I want to hear opinions.
I only have 2 debit cards and no credit cards I’m a student and I’m 8 so my dad didn’t get me a students credit card, he got me a student’s debit card so he wouldn’t be in debt.
A actually useful video on shorts thanks
Thanks for the kind comment!
It was difficult to me , this man does it easy to understand.
But do you still deposit money in your credit card accounts?
@@Frank-wb1jzThat’s my exact question, but from what I’ve seen, a debit card is where you put your money in, buy somma and it’s gone. A credit card is where you buy somma, your bank pays for it and you pay them back later. But what if I don’t want to be in debt, can they just take the money out immediately rather than all that hassle. But I guess that’s where the question is answered: you put money into your acc (has to be) and then they take it later and if say your scammed on eBay, they get your money back.
@@Frank-wb1jzYou usually link another account and use that account to pay off the balance on your credit card.
It sounds dumb to use a credit card
Like if you can't afford something why buy it and why put yourself under the pressure of paying it back to the bank?
Because you can need that item, like food, and don't have money
honestly if you can't afford food then there is something working with your money management assuming you earn an income, And i think most poeple use credit cards to buy what they want not what they need @@unusuariocualquiera2149
just spend it below 2/3 or even 1/3 of your monthly income , it saving most valuable item you have limited amount : *Time* , let say you really craving a bigmcdonald meal and the paycheck is arrive in 2 weeks , just use the debit card and then pay it on time when paycheck arrived ( which mean no trouble will exist ) . sometime they run promo such as " cashback " to make you spend money with debit card , just do it but remember the golden rule -> only 1/3 or abit close to 2/3 of monthly income .
Theres a couple of different reasons why you would. One of the big ones is getting a percentage back as points. Like amex gold gives 4% back as points that you can use for other things, or other cards with 2% to 3% cash back. So you basically get a decent discount on almost anything. Also can save you from people stealing your info and withdrawing cash from your accounts. But only use them as you would your debit and pay them off every month. Only time there is pressure is if you use them stupidly and let interest build.
@@unusuariocualquiera2149Also because using a credit card helps build your credit score so you can buy a house/car one day
But at the end you still pay the 10 dollars so why not use debit card without any risk
Bro that’s exactly what I was thinking
I think it's a scam
Credit cards help build your credit score wich can help you when you want to buy a house or a nice car, also with some credit cards you have points wich you can get free travel with, cash back etc.
A bunch of cards have cash back which lets you save with discounts on a lot of purchases. And it protects you from people using skimmers when they try to steal from your account. Its only a scam if you’re stupid and let interest build by not paying it off.
I guess we should use both credit and debit card but limiting the use of credit card. 👍
That time from point of sale to when the bill for your credit card balance is due, btw, is called your grace period. Fail to pay off the credit card balance within that time frame, and that’s when the late fees and high APR interest will apply. You don’t want that. Food for thought.
The great thing about credit cards is they enable you to keep your own money in savings and accrue interest on it whilst spending the bank’s money interest-free as long as you pay your credit card off in full every month.
Makes sense
Thanks for watching 😀
Thanks man. I've asked a lot of university students, and they couldn't tell me the difference.
Thank you for the video, super clear, very concise and easy to understand T-T wish all financial content was as easy to understand as this. Keep it up man! :))
Thanks bro now i know how it works
Great explanation ❤
So basically if i were to spend $100 using credit, that means i have to repay the bank with 1$00
Is that how it works? Thank You so much for the info.
Is there anything you can’t do with a debit card that you can do with a credit card?
My school finance class is saying to not use credit cards. I want to hear opinions.
Very helpful thank you
So wirh debit cards you dont have to pay the bank?
We Don’t Swipe A Credit Card Or Debit Card It’s Now Either Chip And Pin Or Contactless Tap
I need a card to pay me online so which one should I choose
Yes very useful thank you so much
I only have 2 debit cards and no credit cards I’m a student and I’m 8 so my dad didn’t get me a students credit card, he got me a student’s debit card so he wouldn’t be in debt.
Yeah
Thanks! But how can i pay back themoney to the bank?
Young men should use debit and middle age men should use credit
Ty!! I get it now
Shit crazy u steal paying regardless
Yeah but if u pay credit card u can pay later rather than right now and you can get rewards from using credit cards
👍 👍 👍
Ｐ𝐫Ｏ𝕞Ｏ𝓢ｍ 😱