People are far too scared of falling into debt by using credit. Just use it like a debit card, look at your bank and make sure you can afford it, then remeber to pay the card off in time
@@americangamer1632 have you never had unexpected occurances ever happen in your life? I'll give you a very American example, what if a medical emergency happens and you end up not being able to pay your credit card on time?
@@thanasis-_- As I said use it like a debt card, don't exceed the balance in you're checking account so you can always pay it. Being scared of credit cards it stupid, I pay only 99% of everything I buy, for literally no cost
I pay bills, gas, food, insurance with credit card. I just pay it at the end of the month so I won't pay interest. It helps with credit and I get cash back.
Ha. You credit card users think these “rewards” come from the credit companies are lost. The place you make the purchase at actually pays it with 2-5% of the fees they’re charged. Pay with cash. Dont be sheep.
Both credit and debit piss me off! Why? If I buy something, they take the money instantly, but when I want my money back a 3, 5 or 10 working day wait, for what is mine!
@Kevin-fm1vnThis is true he experience many people taking risk in card in there financial. If they take the credit card as like a debit card, you won't have a problem. Impulsive buyer shouldn't use credit card.
Every transaction that is charged is going to the CC company. It's basically printing money for them. Many merchants now charge 4% extra than they pay for CC fees and I suspect that many items have that fee built in already. Avoid CC as much as you can as they make buying stuff so easy, you would be drowning in debt. Ive paid 45K in about 4 years and it was not fun. I'm not even accounting for the interest that I've paid and various transfer fees.
thats because youre not a credit card person and over spend... got 230k in personal credit lines. have 1.5k on em and none accuring intrest.. sounds like its a you problem
Yeah no. Considering your people in your country are massively in cc debt, I don't even know why it would be encouraged. I'd rather lose a little on fees than to lose thousands because the credit system encourages massive spending.
And then there's germany, where building credit is not necessary in the first place. you started out as "fine citizen" and only have to work on your score after you failed. So there is really no reason to use credit cards, and one could just use debit cards. the only reason to use a credit card might be inflation, but I personally don't care.
@Kevin-fm1vn In germany the Schufa is the most relied on credit score supplier, and their score is almost always asked for when applying for a loan, rentig appartments and whatnot. And I have a 98.5% score (or at least I had this in 2021 when I last checked), whitout ever even using an installment paying, let alone taking a loan. my car was also paid in full immediately.
@Kevin-fm1vn exactly...I think you just have it (that's my perception though, first checked at age 25...). And yes, this is convenient, but we really only need this for property or car loans. Most of the people I know very much dislike the fact of even owing as little as 10 bucks to a friend, so they try to not even borrow money there.
Not everyone is responsible enough to handle a credit card and not overspend with it. Sticking with debit and cash is probably best for the many idiots of the world. Shame though. Lotta missed out value. And hopefully no one gets access to your bank account.
It's your money and even though both have risk, interest rates from the credit card can cause Major inquiries that can ruin you if you can't manage it. Even the rich go broke. With debit you monitor your cash directly and can sum up what needs to be used . Credit card can be the same but it's not yours it's the bank aka someone else money and it's cycling transfers that have interest rates because it's more of a 3rd party thing. Both have a risk of unauthorized purchases and can be taken care of if taken seriously. Yes credit has benefits that make things like getting a house and all easy but with how much you'll be juggling things with it it's best to split em up. What I did was use a credit card for small purchases or emergencies and used my money that I worked for to pay for bigger things or balance my accounts. Advice would be to lessen the spending rate of the credit card unless needed be careful not to max it out and lower the withdrawals from your deposit only using what you need also be careful on the limit of what you withdraw. Their more like the economy version of yen and yang ☯️.
Statistics show people using credit card spend more and going to debt compare to people using debit card. Ps I like cash 😂 even though i do us credit card sometimes for gas ⛽ and food I like more using cash 😉
How come this insane system still works. If I have a debit card, I am obviously better off than majority of people who have a credit card. I never needed to borrow money = credit score should go through the roof.
@@movieandshowreviewsondeman3134 that’s true. But I meant for the loan itself it wouldn’t even apply to me in this case but yes you’re right we can still have a credit score.
The 2-3% reward isn't worth it. It's not going to make you wealthy and puts you at risk of spending more than you should. The only expenses I would recommend spending it on if you want to build credit are your bills which you then immediately pay off afterwards.
If you’re a credit card person, get an Apple Card and open a savings account with them! Their savings account has a 4.15% APY and it’s compounded daily AND whenever you buy something, you get 1-3% cash back that immediately goes into your savings account. It’s a great way to combat inflation and you won’t be making fractions of a penny in your standard savings account.
This is great but most people don't pay it off. Great for the people who can but most of society can't so this for majority doesn't work. But you have to figure out what works for you best that's why it's called personal budget. Be safe in these streets 🙏
People are far too scared of falling into debt by using credit. Just use it like a debit card, look at your bank and make sure you can afford it, then remeber to pay the card off in time
Exactly! Preach!
I don't like credit cards because you can unexpected expenses at any moment.
@@thanasis-_- not sure what you mean, as credit cards actually give you protection if someone steals you're card details, whereas debit cards don't
@@americangamer1632 have you never had unexpected occurances ever happen in your life? I'll give you a very American example, what if a medical emergency happens and you end up not being able to pay your credit card on time?
@@thanasis-_- As I said use it like a debt card, don't exceed the balance in you're checking account so you can always pay it. Being scared of credit cards it stupid, I pay only 99% of everything I buy, for literally no cost
I pay bills, gas, food, insurance with credit card. I just pay it at the end of the month so I won't pay interest. It helps with credit and I get cash back.
Only in America, where using credit is incentivized. That’s why you stay poor.
Only if you are financially secure and not drowning in consumer debt..
Beware of the false advertising!
Yeah thanks. I’ll stick to my debit card.
Where I live you don’t need credit cards to have good credit rating (just regular saving) America is set up so dumb.
Same here.where I'm from,we have other ways of building credit
Designed to keep them in debt and theyre drowning in it rifght now. Ans worse is theyve made people think this is a normal and adult way to live.
Ha. You credit card users think these “rewards” come from the credit companies are lost. The place you make the purchase at actually pays it with 2-5% of the fees they’re charged. Pay with cash. Dont be sheep.
Dear sheep, Ha. You're paying the same markup at the same places if you pay cash, you just get nothing extra in return. -Credit card user
Fidelity 2% Visa
Both credit and debit piss me off! Why? If I buy something, they take the money instantly, but when I want my money back a 3, 5 or 10 working day wait, for what is mine!
Love the cash back on discover it. I've saved thousands using it over the years and I've never paid any interest or fees.
Dave Ramsey has joined the chat
@Kevin-fm1vnThis is true he experience many people taking risk in card in there financial. If they take the credit card as like a debit card, you won't have a problem. Impulsive buyer shouldn't use credit card.
Haha yeah, my school is using him right now and we are on lessons about using credit cards.
Every transaction that is charged is going to the CC company. It's basically printing money for them. Many merchants now charge 4% extra than they pay for CC fees and I suspect that many items have that fee built in already. Avoid CC as much as you can as they make buying stuff so easy, you would be drowning in debt. Ive paid 45K in about 4 years and it was not fun. I'm not even accounting for the interest that I've paid and various transfer fees.
You didn't watch the short, did you?
thats because youre not a credit card person and over spend... got 230k in personal credit lines. have 1.5k on em and none accuring intrest.. sounds like its a you problem
Yeah no. Considering your people in your country are massively in cc debt, I don't even know why it would be encouraged. I'd rather lose a little on fees than to lose thousands because the credit system encourages massive spending.
I don't like credit cards because you can unexpected expenses at any moment.
@@noahhjelmeng5223 where i am from there isn't a strong insensitive to have a credit card
@@thanasis-_-same here.where I'm from,banks don't really give you much if any perks.only the high end cc customers get those perks
That 500K house does not look worth it. Realtor inflation markert price more like it. There's been other 500k houses that provide way more.
Yea but your still using the money in your account to pay the credit card off
3.anything percent interest rates are long gone…
And then there's germany, where building credit is not necessary in the first place. you started out as "fine citizen" and only have to work on your score after you failed. So there is really no reason to use credit cards, and one could just use debit cards.
the only reason to use a credit card might be inflation, but I personally don't care.
@Kevin-fm1vn In germany the Schufa is the most relied on credit score supplier, and their score is almost always asked for when applying for a loan, rentig appartments and whatnot. And I have a 98.5% score (or at least I had this in 2021 when I last checked), whitout ever even using an installment paying, let alone taking a loan. my car was also paid in full immediately.
@Kevin-fm1vn exactly...I think you just have it (that's my perception though, first checked at age 25...).
And yes, this is convenient, but we really only need this for property or car loans. Most of the people I know very much dislike the fact of even owing as little as 10 bucks to a friend, so they try to not even borrow money there.
That's usually how it works. If i want to buy something for $20, then i buy it of course i havec$20 less😅
That's not how it usually works in the credit world. Try to use that
Credit cards do suck for places that charged 3% transaction fees 😢😂
Dave Ramsay would have a field day with this video
I became financially stable when I did the opposite of everything that is in this video
yup. that's the way to do it
Good cuz your smarter than this youtuber
Not everyone is responsible enough to handle a credit card and not overspend with it. Sticking with debit and cash is probably best for the many idiots of the world. Shame though. Lotta missed out value. And hopefully no one gets access to your bank account.
I literally retired in my 20s with no wife/kids by doing the opposite of the video.
It’s just teaching you how to be consumerist.
It's your money and even though both have risk, interest rates from the credit card can cause Major inquiries that can ruin you if you can't manage it. Even the rich go broke. With debit you monitor your cash directly and can sum up what needs to be used . Credit card can be the same but it's not yours it's the bank aka someone else money and it's cycling transfers that have interest rates because it's more of a 3rd party thing. Both have a risk of unauthorized purchases and can be taken care of if taken seriously. Yes credit has benefits that make things like getting a house and all easy but with how much you'll be juggling things with it it's best to split em up. What I did was use a credit card for small purchases or emergencies and used my money that I worked for to pay for bigger things or balance my accounts. Advice would be to lessen the spending rate of the credit card unless needed be careful not to max it out and lower the withdrawals from your deposit only using what you need also be careful on the limit of what you withdraw. Their more like the economy version of yen and yang ☯️.
well what is my Bank offers debit cards? Does that change anything?
Statistics show people using credit card spend more and going to debt compare to people using debit card.
Ps I like cash 😂 even though i do us credit card sometimes for gas ⛽ and food I like more using cash 😉
is there any benefit of using a credit card for someone who doesn't use credit?
Of course.
well, yes, the points and miles you get on cards over time. I believe I've gotten around $1,000 worth of cash back
I get about 2k a year in cash back. Paid in full every month. No fees. No interest. Just rewarded for spending the money I would have spent anyways.
3.5% home interest rate 😂 My, this video has aged 😂
How come this insane system still works. If I have a debit card, I am obviously better off than majority of people who have a credit card. I never needed to borrow money = credit score should go through the roof.
I have a cash back debit.
There are also apps where you can get rewards for taking a picture of your receipts too
Thoughts on Manual overwriting?
Where I'm from,not a lot of credit cards offer you certain perks like how the U.S does
I pay cash
I’m Muslim and cannot take a interest based loan. So credit score is irrelevant.
I work with Muslim clients who have credit cards. They don’t pay any interest.
@@movieandshowreviewsondeman3134 that’s true. But I meant for the loan itself it wouldn’t even apply to me in this case but yes you’re right we can still have a credit score.
@@jonathancajas2932why do Muslims need a credit score if majority of loans are interest based.
How do i apply for a debit card?
Make a bank account and they send you a debit card
Dave Ramsey will be triggered by this video hahaha
The 2-3% reward isn't worth it. It's not going to make you wealthy and puts you at risk of spending more than you should. The only expenses I would recommend spending it on if you want to build credit are your bills which you then immediately pay off afterwards.
What mortgage rate are you at?
If you’re a credit card person, get an Apple Card and open a savings account with them!
Their savings account has a 4.15% APY and it’s compounded daily AND whenever you buy something, you get 1-3% cash back that immediately goes into your savings account.
It’s a great way to combat inflation and you won’t be making fractions of a penny in your standard savings account.
Anti Dave Ramsey?
yes
This is great but most people don't pay it off. Great for the people who can but most of society can't so this for majority doesn't work. But you have to figure out what works for you best that's why it's called personal budget. Be safe in these streets 🙏
Never use a credit card
pay absurd interest rates to spend money I have but I get 10 cents back per gallon of gas? do the math. you're throwing away money
That’s not how credit cards work
Why would you pay any interest?
Get a secured credit card. They're far superior to unsecured credit cards.
They literally are not. Limited spending capability and no cashback rewards.
Next, we need a social credit. Give acess to people in good standing better rewards and opportunities than does who dont.
in america, thats called being rich and white
Nerd