Credit Cards: Advantages and Disadvantages | Are Credit Cards A Boon or Bane?
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- เผยแพร่เมื่อ 26 ต.ค. 2020
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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! :)
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You can Download CRED here: bit.ly/CredTUF
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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.
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#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. :)
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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.
The best elaboration of the pros & cons of CC...Kudos to you !!
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
I really found your video very useful...it just cleared all my doubts on this... thank you 👍keep going
love her videos, so precise... and the way she adds desi lines in between
Your videos are like treasure, there is so much of valuable information in them.. Thank you Urban Fight 😊
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🔥🔥
You always have the content I want to know about . You're doing great .
Love from West Bengal ❤️❤️❤️.
Big Fan of yours .
The generosity, point to point- ness, honesty made me subscribe the channel without any other thoughts
U r awesome
Whenever I watched your video I learnt something new...Whether it is English or something else..
Thanks a lot mam 😊 or sister...
My pleasure 😊
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.
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 ❤️🤗🤗
Thank you for sharing about this..it was simple to understand and happy I learnt something useful today💯❤❤❤
No words just SUBSCRIBED.
Keep up the good work.
I just found this channel and I liked what I saw. Looking forward to watch more. Great Job!
Thank you so much! Was in search of this❤️❤️
Very well presented video! Super informative! And yea smashed the like button! 😁
I was eagerly waiting for your video. .. ☺
Useful information 👍👍
Heartful thanks for this video I've always wondered what's this credit card thing is about, now I've got an idea 👍👍
Tq.. Waiting for this video.... From long time. Mostly am going thru disadvantages.... Its very Helpful.. For us...
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
Hey! I am watching your videos 2-3 weeks & your video stuff is fantastic you are inspirational role model for every guy👏👏
I am watching your videos to improve my communication and capture your pronounciation🤩🤩 thanks a lot for clear explanation 😊😊
This was SO helpful!!
So informative and i love ur confidence ❤️
Thank you so much for teaching me about credit cards!❤️. Very useful and you are amazing 🤩..Please make a video on sensex!
Wow as we asked, you did a video on that ❤️
Thank you for the video.. very helpful for novice 👍
2 MILLION SUBSCRIBERS❤️❤️❤️
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.
Finally, I am satisfied for having a credit card to think in a good way:) thanks much!!
How is your experience
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 am following your channel twodays before Worth information in finance topics - LOVE FROM CHENNAI✌
Thanks so much
For make me understand about this topic
Yoooo I so much enjoyed your delivery, I struggle to concentrate on the content, instead of the delivery😁
You are so helpful!!!! Thank you ❤️
Thank you so much for always motivating me.
Wow a very professional explanation.. Got mesmerized with it 😍😍
Your videos are awesome every time I learn something new thanks sis
I subscribe even though it's my first time on your channel, I like the way you talk ❤️
Btw mam your content is actually veryyy great it helps us a lott
Smiling face full of energy. Liked.
First impression is best impression ..this is my first video I am watching in this channel and made me to subscribe
Really very helpful video ✌
Thanks so much for your information sis
Thank you for good explanation..
Like the video...Thanks for making it...Game of thrones T-shirt and the nice, wide smile. Amazing as always....
Hi.. i am ur new subscriber. Its goog to watch you.... so motivating
Clean, clear and pure form a adv and disadv of credit card..
I brought the 5th "The walking dead" T-shirt!!
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.
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?
Even before u started I smashed the "big fat like button" bcoz I know I'm gonna like it....
You are the best and you are just the best. ❤❤
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 ☺
The best /usefull thing I did ever on TH-cam is subscribing ur Channel 😉 n assuming ur knowledge 😘😘
Being a newbie to credit card services,thank you so much for making this video 😊 will surely pay at time interest nahi varna 😁
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..
Nice video Taskeen! Was just offered a credit card, am gonna be super careful :p
I am also use CRED 2019.... I have 5 Credit card... And my credit score is 851... Sach a Good life... Thank you❤
Thanks for your video💯💯❤️❤️
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...
Helpful video thanks🙏
Thank you ma'am ❤
Waiting for your new video ma'am! It's been a long time!!!!!!
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
amazing you are I always felt I wish i had an elder sister who may guide me with finance now see I found one thank u
Love'the way you speak and explain
Thanks alot for the important information about credit cards Ma'am ❤️.
I'm happy it was of help! :)
Haha 😂the intro... But in the video u r amazing Didi, as usual .
I don't know abt CRED but u r certainly Boon for us. Thnkx🙏.Lots of love.N Happy Diwali.
Simply superb ......🙏
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
Excuse the language but I fuxking love you and your advice may you and everyone else in the comment section prosper
Hey today morning I saw sugandh sir
Felt very happy....🕺🕺🕺🕺
Thanks! Madam, Kindly make video on upcoming interview preparation .
For more confident
Superb what a explanation 👌
Hey I love your work and love to be a part of your team !
hello di,
I'm following you with the last 2 to 3 months . I proudly say you are the best advisor or mentor for us. Really thanks a lot and i have to say that when i saw a video of yours you said that you are a blockchain developer di , I want a roadmap how to be a blockchain developer?
Thank you dee really like your vedios am ur very old subscribe thank you for the informative vedios.
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
Helo my sis your videos are helpful thank u...
here is another like from us.....thanks for the great tips
Nice presentation Crystal clear.👌👌
I saw your almost all vedios and I really like it . And I'm waiting for your latest video..
This is so helpful. Tysm
I really admire u....U r amazing...i learn alot&even watching ur video on a serus topic i found myself entertain i dont know how u do these all things together but really i am in love with ur voice&expressions...just like my big sis....🤩😍😇😊
you speak so nicely and confidently. I wish i could do the same.
Mam, your videos are really helping me a lot. Thank you soo much!!
why are you not making videos frequently?
Best knowledge mem
Hoping for more vedios as such😁✌
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
Really u gave good information about credit card.
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.
This is an eye-opener.
Hello ma'am,
I really love your videos
The way you speak is bold and clear.
I tried to do the same in my online class, but people say it sounds robotic. What can I do🙄
Hi i just happened to applied for a credit card to make small purchases for my own needs but since it is the time i'm actually owning it
i was feeling skeptical about it's usage because of the risks it comes with so i was doing some research on youtube and eventually i came across your video
which was very well explained and informative thank you so much The Urban Fight
Thanks for the info
I used for paying my health insurance...it's all about priority