Credit Cards are for POOR People?!

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Let's debunk the myth that "credit cards are for poor people."
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Опубликовано:

26 июн 2020

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Комментарии : 372

@454lin 4 года назад

It’s all about how you strategize. The secret is to only use your credit card based on the liquid cash you have available 💳

@stephiegiselle 4 года назад

Amen!!!

@svenstormbringer 4 года назад

People who don't understand that credit cards should be PAID IN FULL every month should not be using them

@tarawalton6778 4 года назад

@@svenstormbringer The ABSOLUTE TRUTH!!

@easterbuny2226 4 года назад

common sense

@TheTechnoFI 4 года назад

100% if you can't transfer the full amount to pay off the purchase then you can't afford it so you can't buy it with a credit card. The only time you could argue about overspending is in an emergency where you have no other option. In that event you put all available spare cash to get rid of that debt.

@fordmi79 4 года назад

I find that most people who can’t wrap their heads around the fact that credit does not equal debt are not the best financially. They’re often the same people who laugh at my aging paid off vehicles parked outside my house as they get in their leased CLAs or 3 series and head back to their overpriced apartments. 🤷‍♂️

@_2315_ 4 года назад

Leased CLA? If their leasing that means there credit is better then the average joe. Overpriced apartment ? Hm that just depends where your living, inner city or in the woods. LA or TX. Overpriced apartments doesn’t have anything to do with credit 😂 getting approved for a overpriced apartment probably means you have excellent credit lol.

@karatheythemharkins2393 3 года назад

@@_2315_ yes, here in DC a 1 br is about 3k a month but a cheep house is 6 or 7 figures, yet am kicking myself now a couple decades ago could have bought almost a mansion in a ruralpart of the country for 100k, so it depends what the market says, in nice urban areas often renting wins

@nichtsistkostenlos6565 2 года назад

@@_2315_ Good credit doesn't mean you're making sound decisions financially. You could have excellent credit just making your minimum payments every month paying interest on depreciating assets and not saving anything for retirement. I don't consider credit scores to be a particularly good indicator of financial health. It's more of an indicator to credit providers about whether you're likely to the make the payments or not.

@oldgreg315 Год назад

Except credit DOES equal debt, Michael.. ..and I'll also laugh at your vehicles parked in the driveway and not in the garage

@g.p.5018 4 года назад

I pretty much pay all my monthly expenses on credit cards which i pay off every month..expenses i would have to pay anyways so why not use them for points

@cjhan47 4 года назад

As well as all the benefits that come with it like extended warranties. These things are valuable and so many are sleeping on them.

@robloxscriptingandbuilding7816 4 года назад

Best comment ever!!!

@lillians.4384 3 года назад

EXACTLY!! I do the same! While racking on on all the cash back rewards n points 🤫😁 lol

@karatheythemharkins2393 3 года назад

Just make sure you are not charged a few percent, although that is perfect for any initial spend

@Seongjinkim 4 года назад

Why would anyone NOT use credit over debit? It’s essentially an additional security layer...plus you get some perks (points, miles, lounge access etc.) No clue why some prefer debit over credit.

@AdamKY8 4 года назад

Many people are horrible with money management that’s why

@naughtyorgneiss 4 года назад

Because they're dumb

@acidgolem2132 4 года назад

I would usually use a debit card when I want to buy something that is over my credit limit, other times credit all the way

@brandonholm5812 4 года назад

Acidgolem213 I can’t even use my debit card for large purchases because the bank has a daily spend limit on it, while on my credit card I can spend tens of thousands of dollars in one transaction with no issue. Plus the cash back or points rack up fast with those large purchases. That being said, I did get a fairly large credit limit, you can maybe ask the bank for an increase if your credit score is good enough.

@Jjf109nine 4 года назад

An ais I have one and use it everywhere

@thejokerspeaks 4 года назад

I've never heard anyone say, "Get your money down, and your debt up." I make enough in cash back alone to fund our Roth IRAs, never mind travel credit. If that is a poor man's game, I'll happily take it!

@AnotherDayOfBeauty 4 года назад

I paid my car insurance, phone bill, monthly gas expenses, and other bills on my jet blue card. By the end of every year, I have enough miles to travel to my native country for free or with a small cash addition. I don't see what's wrong with that. I paid for that card on time and never paid interest charges. 😋

@CityLifeinAmerica 4 года назад

$11 for me! I love it. I get to travel pretty nice for

@edwink1467 2 года назад

Exactly. You would have spent those money regardless. Why not get something in return?

@dperin00011 2 года назад

Bc people that don't have the ability to say no to themselves if they have access to money or a LOC can't relate to someone that has self control... They think if they are bad with money then you are also bad with money. Their perception is everything...

@helenayoung4064 Год назад

@@edwink1467 right

@artificialstyle998 4 года назад

Most poor people don't even have a bank account let alone a credit card.

@Blakhawk1703 4 года назад

i don't know how they live then. lol

@JoseDiaz-pl5kk 4 года назад

@@Blakhawk1703 cash and money orders

@notavailable9113 4 года назад

Right wow imagine having to get a payday loan from a rinky dink check cashing place and get vanilla cards from the 7/11 🤢🤮id be sick !

@docsays 4 года назад

- yup many poor folks use check chasing shops and prepaid cards which charge fees. they are referred to as the "unbanked"

@jwaynecitizen 4 года назад

@@notavailable9113 I suggested to my cousin who lives paycheck to paycheck to make budget and get a credit card as a bridge between checks. Told me I was crazy. Well their car broke down and they went and got a payday loan because of course they don't have an emergency fund or any credit.

@chrislopez5287 4 года назад

Debit cards absolutely can make you go into debt. Overdrafts have killed many bank accounts. Most of the time the transactions dissapear right before being posted to your account allowing you to spend money you already spent for a day or two.

@jacobgordillo6476 4 года назад

That's a good point. The financial and emotional toll of an overdraft used to stress me out so badly. Now that I'm older, making more money and know about how to use credit (thanks to folks like Sebby) I get paid by the bank every month instead of flushing those fees down the toilet.

@lillians.4384 3 года назад

Omg I know!! I would ALWAYS get sooo confused on when it actually cleared. Or sometimes the transaction would go into pending status then be released BACK into my account, then I’d use it thinking I had it when I really didn’t THEN......here comes Mr. Overdraft Fee 😞 .........(whispering) thank god for credit cards

@joemama69448 4 года назад

21 cards, zero debt. I'm certainly not rich but in 2019 I earned an extra $5k measurable value in points and cashback.

@FigWidIt 4 года назад

Thats awesome man. I agree, using and maximizing credit cards is definitely a game and I'm guessing most "poor" people just don't want to learn the game lol

@joemama69448 4 года назад

@Anna Jordan and they probably never will. I stopped trying to initiate people into the game because most people don't have the discipline to stay out of debt. Credit Cards are like playing with fire, it's easy for someone to get burned.

@daisyz3575 4 года назад

Logan Scott, you need a channel ASAP

@joemama69448 4 года назад

@@daisyz3575 Haha I thought about it but I dont have anything to offer that hasn't been covered by other youtubers.

@joemama69448 4 года назад

@Anna Jordan that's a good strategy!

@SolidLiquidFox 4 года назад

The simple rule of not spending beyond your means is key on this hobby. Be opportunistic and strategize when a large purchase is coming to get a SUB. This hobby is pretty straightforward if you dont go pokemon hunter and try to catch them all.

@joymae 4 года назад

I have 3 credit cards and I’m not poor. If you are poor you most likely do not have credit to get a decent credit card approved. The trick is to use credit cards to build wealth. As you become more wealthy the wealthy loan out to those who need to borrow. Great video!

@rogerarteaga2665 4 года назад

Not necessarily true. I make decent wage and have about 12 credit lines. I also have paid my balances each month or if not a minimum and my utilization is below 20%. I don't make a 6 figure salary I'm just not a moron and spend money I know I don't have enough to cover for. It's literally how responsible you are with your money that's all. I'll say this I wasn't responsible with credit at 18 years old lol.

@Derbb 4 года назад

@@rogerarteaga2665 I am, currently sitting at a 741 at 18. being put on auth user with my parents helped a lot, Got my first credit card April 8th 2020, the discover it student card w a 1500$ limit. At the start of this month I got the Citi Double Cash back, with a $3800 limit... Currently at a $5300 limit across all my accounts. When I got my Citi Double Cash back card Experian said I had 724, TransUnion through discover says 741, but that numbers more recent. My next move is likely towards Amex. It's all about budgeting, discipline, and living below your means The credit game isn't hard, people's irresponsibility when it comes to them is what makes it hard for them 🤐

@Derbb 4 года назад

@@rogerarteaga2665 I keep my utilization at statement closing under 8% every month. Forget 30%, 20%, even 10% I'm trying to hit the 850

@rogerarteaga2665 4 года назад

@@Derbb That's cool back in 2006 there wasn't a lot of finances taught and my wage was at like 7.75 an hour. 4 years ago I decided to get back on the credit game and I've for sure gotten a lot better with it now. You're right in regards to your other comment credit isn't really that hard to build. Hitting 850 you'll have to grab a mortgage or several loans to prove yourself more but a lot of people have hit it anyway. I hit my top tier with the AMEX business gold extremely happy with it. Plastiq was also a great help in signup bonuses If more income comes my way over time which will most likely happen due to inflation I'll just grab the Platinum. I never really liked Chase but I do have that nice Amazon prime signature card. Honestly, once you're satisfied in the credit card game not much else to it except adjusting to cards and certain changes. For example, I had the uber card and now I only use it for uber and uber eats since it's trash.

@jwaynecitizen 4 года назад

@Anna Jordan wealthy people have knowledge and access to debt tools that poor people don't. So yes they would finance that $40K car at 3% because the $40K they have in cash, assets would be the better word, is earning them 5%.

@creditmark 4 года назад

I got into credit cards after I built up my income and assets but I wish I had just started using them sooner. Great video!

@ThePixel-Man 4 года назад

Same here!

@lyfeoffaz195 3 года назад

Totally agree with you

@ashermitchell2794 4 года назад

Brian Evans' message is almost word-for-word the talking points of Dave Ramsey. Hilarious.

@____2080_____ 4 года назад

And Dave is full of excrement. Pure and simple. One day, someday a freedom of information act will expose the debt he took out to become a financial guru. Every single business owner the world has ever known has used in leverage the credit System to build wealth. It is the fundamental feature of capitalism.

@parabellum1002 4 года назад

Dave says to never use credit and calls the FICO score the I love debt score. Dave’s target audience is the lower income demographic and those that don’t understand debt or credit.

@walkermorales337 3 года назад

@@muletowndumpsters there are multiple cards that give cash back with or without perks without having an annual fee. The citi double cash back card gives 2% back on everything, so by exclusively using that card (and using it responsibly of course) you can basically increase your income by 1-2 percent which isn’t much, but it helps. You could also get the Visa card from fidelity which also gives 2% back on everything if it is put into a brokerage account with fidelity first. This card comes with a few nice benefits, has no fees, and it can help people invest money if they are living just below their yearly income or it can help them save money whole their building an emergency fund.

@JacksonWelch 4 года назад

As a software guy I just like optimizing everything.

@richard1113 4 года назад

Thank you Sebby. As always you present facts and logic rather than emotional arguments. You completely dismantled the argument that "credit cards are for poor people".

@creditplug 4 года назад

I disagree with “credit is the poor mans game” ....I earn thousands per week from credit without spending a dime. It’s all about how you use it. Spending more than what you have on credit card 💳 leads to debt. Using a credit card like it’s a debit card, no problem.

@Broneck01 4 года назад

How do you earn thousands per week with credit cards? MS?

@4doorsmorewhors 4 года назад

Thousands per week ? How can you think someone is going to believe that?

@ahinds100 4 года назад

@@Broneck01 Probably by putting business expenses on the card and then using the company revenue to pay off the card. All of the cashback/points/rewards would be pure profit if that's the case.

@KittyOzzyZiggy3895 4 года назад

Probably uses the credit card money if he has more then one credit card company he probably uses all credit card limits to invest in stocks Bitcoin or started a profitable business he invested the credit cards

@SnoopSimmonsSound 4 года назад

Exactly!!!!!!

@docsays 4 года назад

This was an excellent video! I love the research-based perspective. Here's my story: Early in life i wasn't financially literate, so abused credit cards and racked up alot of debt. Thus, i thought cards were the "Devil". Cut em up, and used cash only, Dave Ramsey style. As my knowledge increased and my debt decreased, i realized an important truth: Credit cards are a tool. And like any tool, they can help you or hurt you. Now I still use cashback debit cards, but i also use credit cards (responsibly). Bottom line, credit cards offer greater protection, warranties, securities, and convenience. With a no AF cash back setup, i can get an extra $100 - 150 per mth for my everyday spend: utilities, groceries, gas, etc. To me that is my passive income!

@jazzbassist Год назад

Old comment, but I love what you said about CCs being a tool. Kinda like using a Sawzall. It'll cut almost anything with ease; however you can definitely hurt yourself if you are not careful. If you're scared of the Sawzall, there are plenty of oldschool handsaws to use!

@boondoggle4820 4 года назад

That commenter lost credibility when he said that you’re getting a “measly” couple hundred dollars of points every year. “Measly”? You could easily buy groceries for a month with the “measly” amount that you accrue in points just for using your card for regular bills and expenses.

@james-p 4 года назад

Just commenting on some other comments downthread. Here’s the thing about Dave Ramsey: He is 100% right… _for his audience._ Have you ever heard his show? People call him up and they have like $50K, $75K, $100K in credit card balances! Presumably by that point accruing interest at the default rate of 29.99%. Some idiot calls who bought his “dream truck” (dream _truck?_ ) for $65K, trading in his perfectly serviceable vehicle that he still owed $25K on, and now he has $90K in debt on a stupid pickup truck ferchrissakes. So Dave is right-on, _for his audience._ They should do what he says, exactly. Cut up every card, work their bloomin’ arses off and pay down every dime, _and never touch credit again._ It’s kind of like AA for shopping addicts. I’m flying to Paris next year, Business Class (Classe Affaire, as Air France like to say). The ticket cost me nothing but MR and UR points, +tax. I looked up my itinerary and it’s a $4,300.00 ticket. I’m reasonably well-employed, but still, $4,300 bucks is a lot of money! Had I used a debit card, I’d be flying in Steerage (Moo!) and paying $1,000 out of pocket for the privilege. So yeah, I pay for everything I can with a credit card. I mean, I see where it goes wrong for shopping addicts. On that trip to Paris, I’m staying in a reasonably-priced hotel. I _could_ stay at the Ritz for the whole two weeks. I could just Put On the Ritz, baby! - any of a number of my cards have the credit limit for it - and worry about that €20K hotel bill later. I’m sure it would be quite an experience and get lots of Insta-likes. _But I won’t._ But yeah, it can be annoying when somebody with a spending problem tells those of us who don’t that we’re doing it all wrong.

@docsays 4 года назад

very well said. its like telling a former alcoholic telling non-alcoholics to never have a glass of wine, even once an while.

@betruetoyourself7162 4 года назад

I agree with both of you. I couldn’t believe the first time I heard that you can roll negative equity into a new car. I didn’t even know it was possible. First time I heard a caller saying that, I was like really? Sad thing is, when I told other people around me, they were not surprised.

@xmochix604 4 года назад

We are higher income, we use a whole lot of credit cards at 0% and zero interest loans promos to let our cash sit in investments . Once the promo ends we pay off.

@recoilrider2833 2 года назад

Why am I addicted to this channel? I literally found it because of the offer I received for the Platinum Amex and now I can't stop watching it. Thank you Sebby for all the information.

@Unclebuns72 4 года назад

I have 12 cards. And 117,000 limit My scores are all in 800s now. I only use 2 of these cards. The others I take out every 6 months and put $1 on them to keep them active. Most of my cards have gotten me $200, $300 or $500 welcome bonuses. I will get 10 more cards in about a year. I never pay interest or late fees. I’d never be in the 800’s score wise if I only had 2 cards.

@docsays 4 года назад

truth. i only use 2-3 of out of 7 cc's in any given mth. having my cards and responsible usage has got my scores up from mid 600s to mid 700s.

@markbeiser Год назад

I have a number of RU-vid channel memberships, and spread them out between the cards I never use, with autopay set up on all of them. Keeps them from going inactive, and generates "on time" payments on every card every month, without me having to even think about them. Occasionally the credit limit will automatically increase on some of them too, so bonus.

@esonon5210 2 года назад

Ways that companies counter act this is by adding fees to CC users. Gas stations typically offer "discounts" to people who pay with cash.

@amb-yz9ee 4 года назад

This is simply a Dave Ramseyism, it’s so crazy how his pernicious thought has permeated almost all financial discussions on the internet.

@andyh4464 4 года назад

His audience is lower on the IQ and self control scale. That advice is good for that demographic. Credit card companies make tons of money off those types of people. It seems hard for us to imagine what it's like not having the self control to pay off the statement every month but trust me tons of people can't help themselves.

@thegardencity92 4 года назад

Kinda sounded like a troll post to me

@betruetoyourself7162 4 года назад

Andy H I listen to Dave Ramsey. His overall thing is to live within your means. I think that is a great idea. I pay no credit card interest and try to use points as much as I can using the cards I have. I don’t have to take everything Dave says as gospel. I don’t feel like my iq is so much lower, but thanks for your opinion. Sebby, you rock.

@andyh4464 4 года назад

Be True To Yourself some people don’t need a guy on the internet to tell them to live within their means, for some it’s just common sense.

@betruetoyourself7162 4 года назад

Andy H Yes, you are right, some people just have common sense and don’t need any advice or coaching. So I guess you feel all Dave’s listeners just have too low an iq to know it. I don’t know everything, so I watch you tube videos to learn. And maybe encourage others? The world is stressing enough, I want to try to be kind, or at least kinder than I have been in my past life. 😢 I hope you have a nice night and good luck to you.

@q.l5480 4 года назад

I really like how you responded to that guy. Classy and informative.

@danielb3863 4 года назад

I stopped having conversations with none cc users years ago. CCs are one of those things that when people have a negative view its for life. Move on.

@lillians.4384 3 года назад

EXACTLY! No need to waste your breathe

@Holdeenio 4 года назад

I appreciate channels like Sebby's because it provides some financial education. If this education were avaliable from school age, people would understand how credit works long before they're eligible for it themselves - that's the best way to prevent people getting into debt - not hoping people will abstain.

@wandaclarke9975 3 года назад

I just found one of your videos and started binge watching. Wow! I have learned so much. Thank you for dropping so much knowledge. I will be watching more.

@AskSebby 3 года назад

Thank you! :)

@Kingwboxing 4 года назад

Use credit cards based on the money available in your bank accounts.

@ryankanno2562 4 года назад

Excellent video! Been subscribed for over a year now, and this is one was particularly good!

@davishlamburnt3734 4 года назад

Thanks a bunch for the video Sebby. One thing debit cards can do is empty your bank account if someone gets your info but credit card companies have to handle it if they go that route. I make thousands a year in points a year with my cards because I play the game right. I also LOVE the credit card game. Thanks again Sebby.

@ez2boy 4 года назад

Wow that's the dumbest comment I've ever heard.. I'm not rich but I pay off all my cards: 0 debt whatsoever. Also I've already crossed pacific ocean twice in buisiness class in 3 years and got enough points left to do it once again when covid dies out. It's not about how poor or rich you are. Just be financially responsible. If that's difficult for you, well.. stay away from credit then.

@kimikafowler5307 3 года назад

Great job! Thats what I call vibrating at a higher frequency.

@gbj1014ify 4 года назад

Try to rent a car or get on an airplane with cash see how that works!!!

@andreyv1 4 года назад

What? Since when do you need a credit card to fly?

@ahinds100 4 года назад

@@andreyv1 It's practically impossible to rent a car or a hotel room without a credit card. As far as flying goes, I've noticed over the past 5 years that airlines won't let you buy any onboard snacks, food, or beverages without a credit card; and ONLY a credit card....they won't accept debit cards or cash.

@rgermina 2 года назад

Always find your videos educational. Keep creating informative content.

@MOGGS1942 4 года назад

Being in debt to a credit card company means sleepless nights. Only use one if you intend to pay off the full amount every month, thereby avoiding huge interest charges. Set up a direct debit with your bank, and that way you never forget to pay on time. Used properly, and wisely, the credit card is a good friend to have.

@AskSebby 4 года назад

Or even push payments once a week if you're worried about "feeling the pain" -- this causes you to see your credit card usage directly like your debit card.

@hinfranco3130 4 года назад

I like the way you emphasized your passion for numbers with basketball stats 😆👍

@SeeYouUpTheRoad 3 года назад

Well researched and well presented Thank You!

@karatheythemharkins2393 3 года назад

@Sebby "one of the more productive ways of me wasting my time" LOVE this quote! My spouse thinks I have gone mad in an excel book that started out listing subscriptions, I just explain it to her and other ppl that look at credit cards quizzically as the modern equivalent of coupon clipping

@markbeiser Год назад

And unlike coupon clipping, it works on ALL of the things you already buy, without having to work at it much. I think the "worst" thing I've had to do to maximize a cashback benefit is start using a digital wallet to pay for things with my Discover It card. This quarter's 5% category is Amazon and digital wallets, and I already have an Amazon Prime card. If you also happen to be into coupon clipping anyway, you can save even more!🤣

@xmochix604 4 года назад

I love your videos, thank you for always encouraging us to bring up our income.

@mattkim9387 4 года назад

This really hit the nail on the head. The beauty is that theres no wrong option if it fits someones lifestyle. I moved from the bay area back to sac this year. I've noticed at grocery stores/restaurants, a decent number of people prefer paying debit. Maybe they don't pay thousands of dollars on rent alone, so getting an annual fee card doesn't suit them if they can't justify spending thousands that you would be spending in a bigger city. Credit makes sense living in the city since I'm spending thousands on parking/rent/groceries/tickets I might as well get something back.

@Protostar9 4 года назад

Only wealthy people I see using cash are Dave Ramsey and rappers, and then again most of those rappers aren't going to stay rich for very long lol

@OperationNonsense 4 года назад

lol the funny thing is dave ramnsey probably secretly uses credit cards himself.

@CityLifeinAmerica 4 года назад

Rappers don’t actually use cash, just like to show it off. They actually are very heavy users of credit cards, especially higher end ones (with the smart ones paying off the balance in its entirety as expected of you!). I’ve worked retail and restaurant in “nice parts of town” and had the opportunity to converse with a lot of them. Dave Ramsey on the other hand is just dumb.

@Oli75 4 года назад

Always, always, always use your cards and pay off every cent before the bill is due every month. Don't let yourself carry a balance ever.

@jazzbassist Год назад

"One of the more productive ways of me wasting my time". LOL Sebastian is one of the funniest dudes I watch, and he's not even trying. I love these vids, I learn so much and get laughs to boot.

@PassportBrosBusinessClass 4 года назад

Wealthy people don’t carry much cash. They want their cash in the bank and don’t come into contact with it until they need it. I buy almost everything on my card and pay the balance immediately. Credit card rewards are equal opportunity. So long as you pay off your balance immediately, you don’t pay interest and you get something back for spending you were going to do anyway.

@pabloaguilar6342 4 года назад

I think a way to make people understand the correct way to use a Credit card is to show them that you don't have to wait until the end of the month to pay down balances. I think what people mean by risk is overspending due to the lack of friction from their checking account specifically, but if you pay down balances 2-3 times a week, then one can have a more realistic idea of how much money they have left to spend an d plan accordingly, at least that is what helps me.

@cjhan47 4 года назад

In the year 2020, I can't imagine that I have used more than $500 in cash. No reason at all to do so. I also have the surpass card and that thing has gotten me over $700 in value this year alone. and we only really had 3mo to do any real travel. This person has no idea what he's talking about and it sounds like they are just repeating Dave Ramsey stuff that we all know is not quite accurate for people who are responsible with their Credit cards.

@Kenroy112 4 года назад

With credit cards, I never used it unless I already have the money in the bank to cover it. I also always view credit cards as not my money and it`s someone else is money, so I have to be very careful in spending someone else money.

@betruetoyourself7162 4 года назад

Kenroy112 that’s good. Everyone should feel that way.

@erich7861 4 года назад

Ive subscribed you for a while now and the amount of thumbnails of you pretending to cut a card has definitely increased lol.

@AskSebby 4 года назад

The credit crunch and 2020 is too stressful 😫

@Annalove1955 Год назад

I just subscribed, I love this channel, very informative!

@_2315_ 4 года назад

New subscriber, second video and your throwing mad gems 💎 🔥

@AskSebby 4 года назад

Thanks :)

@dwarakanathkottha7771 4 года назад

I totally agree with you Sebby. One thing though...we can never make everybody happy bcz even with the facts on the hand they want to believe otherwise. I guess its their choice... putting it in a nicer way.

@zappyeats2579 4 года назад

I really related to the guy that paid for his painting with his credit card. I once did the same thing and used my credit card to pay for a painting I bought at target.

@markbeiser Год назад

🤣

@michaelmoore1503 4 года назад

Sebby you hit this one out of the park, total grand slam!

@deborahpembrook8833 4 года назад

Income inequality is a serious issue. I’ve thought of points as a way to punish the banks, so it is disturbing to hear that banks profit by moving capital from the poor to the wealthy. If you did more videos on the math behind the inequity I would watch them. Lots to think about here.

@miguelmal 4 года назад

This is an interesting topic, thanks for the video!

@jesushperez23 4 года назад

Sebby! Love the drake quote at the 13:30 mark 😂 keep up the videos brother!

@alexrod550 2 года назад

I thank you for saying this ...I agree 100 percent !!!

@nikitaross9868 4 года назад

How does one not love maximizing the value power of their dollars spent. As well as paying less or getting perks. In my experience with the wealthier percentage, this is one of the strategies that comes with obtaining and maintaining their status. Just saying!

@anthonymchiles 4 года назад

What strategies do you use when using the cards? Do you lay it out each month? year? etc.?

@multimeter2859 4 года назад

Thanks for the content you make. I just hit my 30s and have only ever had my military star card as a credit card. They just seemed like too much of a hassle and I was hardcore Dave Ramsey as well. Now that I recently discovered all the credit incentives for military, I'm gonna take the plunge.

@AskSebby 4 года назад

I would go for Chase and Amex given their treatment of MLA. There's definitely a ton of value (and trips) on the table :) www.asksebby.com/blog/best-credit-cards-for-active-duty-service-members-a-step-by-step-guide

@multimeter2859 4 года назад

@@AskSebby That's what I had planned. My question now is: If you upgrade or downgrade a card, does it keep the same card number? I considered getting CSP first and putting my monthly bills on it to get the higher welcome bonus and then upgrade it to the CSR. Would the bills automatically roll to the CSR or would I need to reset them?

@AskSebby 4 года назад

It rolls over for most issuers. If you want to talk strategy / have a specific trip in mind: www.asksebby.com/free-card-consultation

@multimeter2859 3 года назад

@@AskSebby I already filled one out, but thanks for the link. Just waiting on your reply. :)

@gormikayelyan9793 4 года назад

Hey, if I am downgrading my capital one venture to capital one ventureone/quick silver. Do I need to transfer the points to flying partners first before doing so? Or will my point value of the current points be the same regardless of what card I currently own? Thanks

@xxxbilly 4 года назад

It's really simple - If you have self control and strictly follow a budget(which one should always have if being financial responsible). Then Credit Card > Debit Card in ANY situation. If one can't control their spending, you are poor anyway, nothing to do with credit card. What's hard to understand?

@betruetoyourself7162 4 года назад

Good video thanks. IMO, Credit cards are superior in rewards and convenience most of the time. However, if offered a large enough discount to use cash or the debit cards offered higher rewards, I would definitely do that.

@OperationNonsense 4 года назад

If anything Brian Evans only exposed himself - A. he is incapable of rational thinking or cost/benefit analysis, B. he is not one who can use credit responsibly and has gotten into or is currently in debt, C. he has incredibly low spend and only generates a few hundreds in rewards every year. I also don't think he meant anything malicious by his comment towards you, but he was incorrect to generalize all credit card users and project his own personal credit card experience thinking everyone handles finances like himself.

@danielb3863 4 года назад

Brian Evans is a popular opinion type of guy. Most ppl hate something , they will automatically as well. Faux social validation mindset. Its definitely a psychopathy spectrum trait.

@luisrobles5049 4 года назад

Yes finally the outro music is back

@alexisoviedo100 4 года назад

Would love some video concepts on working in corporate culture. You dropped some snippets around 12:47 that I found extremely interesting

@devaughnj510 4 года назад

I use my credit cards more because they are more secured than a debit card and when I have cash I end up spending more money.

@zzzzzzzzzz098 4 года назад

When I got my first credit card in college years ago, it was one of those 2 points at restaurants cards. I went to McDonald's to buy lunch and paid with the CC. The McDonald's cashier said to her coworker in a low voice "how can such a well dressed young man use credit cards to pay for food." I didn't say anything back then, but I felt extremely disheartened. Thing is, 10 years has passed and I bet she's feeling stupid now. Suck it McDonald's Cashier girl, I was ahead of the curve!

@lillians.4384 3 года назад

There’s absolutely nothing wrong with that, some ppl are very very silly that’s all.

@shoalins55 4 года назад

I can't tell you the last time I paid a full amount on for a airline ticket. Oh and I upgraded from CSP to CSR recently and they did give me a $100 credit!!!

@ezioaltairac 4 года назад

Low key thinking that Graham is the sponsor of this video.

@EatCoffee Год назад

Rich people are also smarter with their money. There was a study where you give $100 to a poor person and $100 to a rich person and they would make drastically different decisions

@longbeachcomedy4481 4 года назад

Using a Debit Card does nothing for your credit health/score. Well monitored credit card usage (paying the monthly balance in full) will though. Maybe it's better to say that Credit Cards work better for financially responsible people of any income level. IMHO Debit cards keep your money in a coffin.

@midlifecrisis7888 4 года назад

One of my local liquor store chains has 2 prices, one for cash and one for CC.

@markbeiser Год назад

Spec's in my area gives a 5% discount if you pay with cash or debit, and some of their "Key Club" member sales are cash/debit only. Unfortunately for them, I can go to Goody Goody and buy the same stuff for less, AND use a CC.🤣

@georgegarcia566 4 года назад

When do you think Amex Gold will offer anything like the 80K points they did last December?

@JrKelly-rb4eu 4 года назад

The fact remains that cash is a one way ticket , you get NOTHING in return . When you hand that cash over its gone..for...EVER. When I send that payment over for a bill with my credit card, as soon as its processed I get points coming right back at me. On top of the points I get..I can take the same card and swipe for groceries seconds later. Also if credit is for poor people, why is 70% of Walmart's inventory on credit ? They could buy it all cash if they wanted to. Having a great credit score or working to improve your credit affects your psyche. Even drug dealers use credit cards...you don't have to like how it works, but you better know how it works. Limited mindsets are not a problem ..its a result!!

@JrKelly-rb4eu 4 года назад

@Sir We Are About to Die I don't know about all that..I was just using them as an example, they are just one of many companies that utilize credit as leverage that's all.

@Ekim2411 4 года назад

I’ve switched to using my credit card primarily since Jan 2020, and it’s so much more beneficial. The key is always to pay off your balance and you’re straight.

@2808Heavy 4 года назад

Sebby, I agree. When it stops being fun I’m done. When I first got into this hobby I would MS like crazy. Then one day I just got tired of doing it. Never any adverse action, it’s just others things seemed more worthy of my time and I just stopped. Now I just use the right card for the right spend and if there’s any Amex offer or something to the sort I’ll take advantage if it’s something I was going to purchase anyway.

@lewis20002000 4 года назад

GREAT rebuttal.

@kuyaChrischan 4 года назад

Dave Ramsey fanboys are annoying. Use your credit card as you would cash and you won't even have any issues.

@Spydah3kgt 4 года назад

I got into cards when my income jumped and my travel for work jumped. I have to use my personal credit and get reimbursement (not ideal as I don't like being a bank for my company, but reality nonetheless) for travel. If I have to put hotels and meals and the like on my cards I may as well get some perks out of it. Credit (like other controversial things) is a tool. It's neither good nor bad inherently, comes down to the discipline of the individual using it.

@markbeiser Год назад

As long as your company is solid and reliably reimburses you in a timely manner, I think using your own credit cards is an ideal situation for maximizing the rewards you can get!

@jonathanaragon544 4 года назад

I'm confused. You were applying for a new credit card every 2 months, doesn't that affect your credit score? Hard inquiry?

@gluka47 4 года назад

Credit score is all about the long run. All those inquires are going to go away in 2 years and the cards will mature in 7 years. So the credit score in the short run doesn’t matter at all.

@ericlancaster2889 4 года назад

That cake video is pretty amazing

@ChristopherWalkenPUA 4 года назад

Well, the dude who posted that has no idea what he's talking about and you teabagged him pretty hard.

@ryansterling8074 4 года назад

Thank you respect

@kyletgarrett 4 года назад

Love your content. Just curious, why so many thumbnails with scissors cutting a cc?

@facelessman5362 4 года назад

also with rsus/options you have to have the cash to buy them IF your company does have an acqui or ipo or other exit.

@khangle1841 4 года назад

I wait for Graham's reaction to AskSebby video. =)

@khangle1841 4 года назад

The commenter brian also did not factor in: Sebastian made money by ads and affiliate links on RU-vid, and youtube is his side hustle business, so technically, all annual fee for his credit cards are paid by youtube income and he also successfully create an passive income. This is NOT a hassle, this is long-term rewards for Sebby's awesome work. He INCREASEs his income and SAVEs money on his travel by doing what he loves. Not many people can make side hustle earn significant income like Sebby.

@jesusvilla9547 4 года назад

I have 5 credit cards and planning on getting more I own my own landscaping business and make over $80,000 a year and still growing my business. I hope I'm not considered poor since I live in Orlando Florida and you can live pretty good with that kind of income a year at least I think so.

@Mr.Quinlan888 4 года назад

Sebby analyzing basketball data... I need to get in touch with you. Hehe.

@numpsey6750 Год назад

How do you pay rent or mortgage with a credit card?

@thewealthfactor3980 2 года назад

You’re speaking facts!

@thirtythree3629 4 года назад

Hey sebby. Love your channel. Do you or anyone on this channel’s thread know of a Amazon Allowances alternative to keep your cards active ..... they just shut it down on amazon! HELP!!

@mengchou5025 4 года назад

Amazon allowance is ending on July 30th.

@KenronTheGamer 4 года назад

Nice response video

@mrbigglesworth375 Год назад

Wow didn't know I could borrow my way to prosperity. I will start this morning.

@mustangx218 4 года назад

I'm 100% credit card. But I don't spend that much money. I just collect cash back and points.

@EatonZ26 4 года назад

On the example of billionaire buying painting on Amex, problem with that argument is that the auction house is paying Amex more in the form of commissions than the value of the points earned. Thus it would have been easier if the painting was bought using cash and the auction house just gave the guy a 5% discount.

@yvr2002rtw 4 года назад

Some people in China are desperate to use whatever means it is to get around the foreign currency restrictions so they buy expensive things outside the country with their AMEX.