Credit Cards vs. Debit Cards - Which is better? ( Pros & Cons of Credit Card versus Debit Card )
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- เผยแพร่เมื่อ 9 ม.ค. 2022
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#creditcards #debit #credit - แนวปฏิบัติและการใช้ชีวิต
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Credit cards are without a doubt better in every way. Debit cards are to withdraw/deposit money at the bank/credit union
Idk I used to think the same until the Coinbase card came about, can't beat 4% back on everything.
@@user-jy7yw5kw3w what's the catch?
@@ga5234 nothing, well other then it's crypto 🤷♂️ doesn't make a difference to me, sometimes it goes up sometimes it goes down. You can always cash it out into dollars tho.
Wish I knew this information when I was growing up. Unfortunately my folks told me credit cards were evil and a scam. Come to find out they were just irresponsible with them. Great content as always, thanks Adam!!! (p.s. nice jacket!)
Omg same
I’ll never use Debit unless every single credit card I have doesn’t work, or unless it offers some sort of reward. Using Debit is like purposely losing money with every purchase because you’re not at least earning 1% unless you’re using discover debit.
I wish they would teach this in personal finance classes. In the one I took in high school, they made credit cards out to be the devil and acted like every credit card puts you into crippling debt. (Looking at you Dave Ramsey) Once I realized many financially literate people use credit cards and how to properly use them, I use them for everything. But I do agree with your point that they aren't for everyone.
I'm in law enforcement and I see many cases of fraud when people use their debit cards. I always tell them it's better to use credit cards.
There is literally no difference in terms of fraud buddy they all work on same system built by Visa or Mastercard lol
@@Emre-lm9dk Debit card comes out of your checking account. Credit cards is a line of credit. I understand its fraud either way, but you are much better using a credit card than a debit card.
@@tedabdulfattah2601 i was frauded before with credit card and the bank wanted me to pay the bill that's simple because it's paid already. When you use a credit card and that line of credit it's still your money being spent you are just delaying the payment with an interest fee. You are just leveraging yourself using someone else's money to be paid at all costs that's the primary difference
Dave Ramsey is punching the air and yelling at the computer screen right now
Haha I just said the same thing. 😅
This is Dave Ramsey : " DAMNNNNNNN ADDDDAAAAAAAMMMMMMMMMM ARRRGGGGGGGGGGGGGGGHHHH 😂😂😂"
Dave Ramsey is your typical boomer, doesn’t admit when he’s wrong and he hates change
Dave does a lot of traveling. I can’t accept that he use his debit for everything
@@mranderson8725 Dave Ramsey doesn't live by the same advice he gives and sells to other people.
Credit Cards for me!! I pay my bill in full each month!
Truly appreciate this information - thank you.
Great info.
Adam,
As always great video been a subscriber for a long time. Love your videos you are down to earth everyday guy. I have mixed feelings when it comes to either. I got myself into trouble with credit cards a while back so bad I had to file bankruptcy. I wish I would have found your channel along time ago. I learned my lesson a while ago that debt sucks. I am rebuilding credit now. There are quite a few debit cards out now that act like credit cards. Great video man. What new card you going for this year?
I have to disagree with one of your debit card CONS. I have used my bank issued debit card since they were first introduced, and have been notified twice by my bank when uncharacteristic spending was observed (in both cases, my wife had 'lost' her debit card following a transaction). I was not held responsible for the fraudulent purchases, and it was the bank who noticed before I did. In cases of random false charges (cards were not lost), the bank again credited me the full amount before starting the investigation. Except for the credit score issue (which is not a concern for me), I find it easier to not have to worry about purchasing something twice: once at the store, then again when the credit card bill arrives...
Because they both have the same security features and this guy probably lack some knowledge about Visa and MasterCard companies
LMAO yeah ask all the Chase Bank Customers who got screwed when this happened and the bank refused to help them out I would rather be safe than sorry
Good info👍🏽
good info
Excellent as always Mr. Jusko.
I ruined my credit by the time I was 20. I worked really hard to fix that. You have a different view when you lived in credit jail for 7ish years.
That's why I dislike credit cards with a passion..
I love your vlogs! Can you please do a credit card 101 for people (like me) who know nothing about building strong, exceptional credit score . Thank you 😊
🥇 gold over here.
Not sure why you don't include overdraft fees. You mention it but then don't include it. You can go into debt with debit cards.
Yes but many banks don't allow overdraft or you can easily turn it off as an account option. You're right, though, you can go into debt, but generally not in the same way as with credit. (Unless you do a LOT of overdrafts.)
I’m about to get a job and I want to temporarily have a bank account until I have enough saved up to move out. I will never make purchases with this account I will only withdraw all my money when I have enough saved up and then close my bank account, I don’t want there to be any traces to me through this account and I plan to save up a maximum of $14,000 so should I get a debit or credit card?
Why can't you use both? Credit Card for big or spontaneous purchases (Bills, Groceries, rent, etc) and Debit Card for smaller purchases (Soda, or snack from a gas station). I'm 14 and would like to get an early start on knowing all this. Thank you
There's nothing stopping you from using both, but in my view credit cards have the advantage unless you are worried that you'll overspend with them. If you're 14 and thinking about this stuff already, you're probably not the type to irresponsible with credit, but everyone needs to figure that out for themselves.
@@ProudMoney I gotta say the fact that Votix wants to use credit cards for "big or spontaneous" purchases doesn't indicate to me that he/she wants to use them to buy stuff that he/she has the money for at the time of making the purchase. And where do all the benefits of credit cards come from anyway -- well they come from the people who use them irresponsibly and pay exorbitant interest rates. So if everyone was paying them off on time the credit card companies wouldn't be able to hand out nearly as many free loans and rewards as they currently are.
I only use my debit card to withdraw physical money from my bank account ONLY. By using a credit card, you establish credit history, when an unauthorized charge happens, you won't be liable if you report it quickly since its that bank's money and you get rewards. You can still use it for small purchases and still get the credit history if used responsibly.
Think you’ll ever do a video of pre-approved by Chase in The Credit Journey in there website? Wether it a good legit one or they just want you to apply for it? Getting alot of your pre-approved in mine for CFF, CFU, CSP and CSR
Never mind just saw the pre approval vid you did awhile back. Sucks I keep getting them in my Chase Credit Journey
can you make a video on the best cards to take over seas as you know most people would rather go to London than Cleveland?
Most people would rather go to Italy than Pittsburgh I'd love to see a video on what cards you think are best for over seas?
Any visa and Mastercard cc with no transaction fee
I mean
Any card that charges no foreign transactions fees. No Brainer 🤷♂️
@@BrandenJerrell everybody's different and they may have their favorite united state credit card? Discover isn't widely accepted
Chase Sapphire both cards have annual fees , Not everybody has a Costco membership, ? not everybody has a td bank credit card
a video would be usefull
@@marksantucci4230 What are you even saying? Smfh, Just use cash. This credit card thing clearly isn't for you 🤦♂️
@@BrandenJerrell I know more about credit cards than you do first of all, I have better credit cards in my wallet than you do?
I don't know if you know how to read. but What I'm saying is Discover isn't widely accepted, Chase Sapphires both cards have annual fees , Not everybody has a Costco membership , Not Everybody has a TD Bank card.
a video on the best credit cards to take over seas would be great.
I’m here 1st
🥇🥇🥇🥇🥇🥇🥇🥇🥇🥇🥇🥇
They can freeze the account until you call them and tell them that you were at a certain store for the first time.
when booking a vacation airline check bags always use a credit card
when renting a car always use a credit card
when buying a gift card whether directly from the merchant or a grocery , drug store, gas station whoever always use a credit card.
the only time a Debit card should be used is if your eating out and obviously theres no risk here just a restaurant or if your buying groceries at the grocery store/ whole sale club.
if your at an atm and you want to use money then you use your debit card.
but when I make big purchase say at things rembered , Macys I use a credit card. even Party city .
Depends on the restaurants trust me I have had my luckily CC skimmed by a shady bartender before so CC at the restaurants you don't trust too not the restaurants fault it's the what we call in the FEDS is an insider attack which is the worst kind an employee who is pissed off at the world and wants to burn it down so they resort to stealing someones info or the companies then sell it on the blackmarket someone can then go and buy it for cheap as hell and then boom they now have your CC information and can make a fortune from it.
Kudos to credit cards,but my preference is debit.i somehow have a big dislike for credit cards.
Probably because it isn’t your money
Regardless if you folks use Credit or Debit cards any cards you are not using that day make sure! to Lock them you can do this through your app in the phone or on the website if you lock your credit card or debit card if someone skims your info they can't spend crap! trust me I have learned this the hard way I locked the card immediately after I had a CC card some bastard in Virginia was buying up all the pizza in the world! locked the card down no more pizza for mr THIEF!
I wish you were my dad
That's very kind, but I'm less impressive when I can't edit myself 😃
Thanks for your swiping method + the necessary valid software, They help and make it more easier. Enjoy myself doing this with you *DAWGGOAT* you honest everything works lit Broski