STOP Using Your Credit Cards Like This | YouTube Short 

Credit limit of 2k is pretty low. You usually start around 1.2k-3k unless it’s a secured credit card.

do you not know what a credit card is?

@@ethanwells1230 do you have 2000$ for online service?

@@ethanwells1230 Why is that matters. He say small amount, and for him small amount is 2k, thats it.

as far as a credit limit goes 2k is very low.

Damn you must be very broke

You must be slow Would you prefer to loose ~10k or 2k?

That's why you pay with only credit cards. Credit cards have zero liability unlike debit cards that leave you liable for $50 after 2 business days and if you don't reporting within that time period, you are liable for the amount stolen

You can inform the cc company within 3 days of any unknown or suspicious use or transaction to get out of any trouble.

@@LX.727 no but nobody wants to loose 2k either most of us don’t come from rich parents we can mooch off of

Amazing how no one mentions this....

@@dmlagrange Ya Kevin is basically out of touch.

@@captainseyepatch3879 It may be a old reupload from normal vids to yt shorts

"Most"..... might be the keyword there champ

It's not souch the credit card fraud that's the problem it's the personal information that comes with it. That's why going buying a gift credit card is even a better way to go it has no connection to ones banking information and so the personal data isn't stolen as well.

why not pay off the credit card in full every month? then you can still get the benefit of improving your credit score.

No credit cards will lead to no credit scores. No credit cards means no loans approvals for cars or a mortgage etc

You need to establish credit history if you ever want to get a loan on big purchases that are beyond your savings

​@@effebey7538listen to Dave Ramsey

If you find yourself unable to control your spending and using credit cards irresponsibly, then that's the best thing you could have done. Good job

What a good advice. I never knew that. Thanks 🤣

Hell yes. Govt can print trillions and allow lotteries to be in the billions. Why the F not?

​@@RaceAgnstTme is it a joke ? because we don't want to have economy as great as Zimbabwe.

@@user-fo9kt3rq3d that’ll be 900 Billion Zimbabwean Dollars please.

@@thenightcorereaper that’s not even 1 penny bro

Hahaha mine has 500, close enough ☠️

and thats coo get n save

Mine is $12 💀 (1k in my money)

That’s smart, if you’re only using it for emergencies or to build your credit then $200 limit is typically enough.

For real

The first step to attaining wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.

I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.

Give this a try and attain weaIth. Get to her

Elizabeth Green Hunts

Scam

😂😂

@@guy7310hire me or stfu

Fairly odd parents

Everything is on line these days. 🙄

My god how broke and stupid the population has become… if $2K is a lot of money to you guys, I don’t even know what planet you exist on… it’s not even a lot to most foreigners from countries you call poorer than yourselves… where do you guys work??? Part-time McDonalds? Part-time Gas stations? Cmon… $2K is NOT a lot of money… at all… and if you have problems with $2K, I am sorry but you need to do some SERIOUS soul searching and educate yourself… if you’re over 25 years old and don’t have $2K to your name, you need to grow up… the only exception is if you are broke because you are actively in a short-term transition phase from one career to the next and have spent your savings acquiring the new better paying career/are currently starting in it and expecting a return on the investment within no more than 1 year time, etc… otherwise, if you’re just cruising in life and can’t find $2K to your name, you have serious issues… even then, you should have at least $10K in a retirement account after 25 years of age… preferably more but even if you’re switching careers you shouldn’t be broke-broke… if you are, you are wasting the American opportunity completely… there is so much money in this country it is practically sloshing around shoving itself down my throat, I don’t know how you guys have a problem with $2K… seriously inspect your lifestyle and career and education and spiritual health… news flash, you can’t buy happiness with instant gratification, and I don’t know of any way to end up that broke unless you’re actively investing in a grind towards a better future… if you’re just sitting there day to day not doing ish then you need to grow up and get off your ass and work OR stop complaining about being broke and accept that you’re a lazy slob that deserves nothing more than to be broke…

You are paying him even more through his products.

​@@Bikram11822 Is he?

Well, if you pay your credit card back on time you're golden.

no only until he's paid off and then it goes down to 3%

Exactly!!

Not online wtf😂

I don’t see a problem 🤷🏾‍♂️he likes People that would work OT and put in the hard work

@@redscorpion9325 he quit after working 3 days at an ice cream shop because he had too much pride to pick up gum!

If you were a ceo would you want lazy people working for you?

The best way to protect yourself is to stay away from people like Kevin. The honest to God truth

That's what employees are, to people like this... a monthly subscription lmao!

Your credit limit needs to be above 300% of your maximum monthly spending. Go above 33% of your limit and your credit score suffers. Now I think that most people on average income spend up to $666.67 online shopping per month. $2000 is a great starting figure to train yourself to control your spending

Well, if you put it that way, workers are paid on monthly subcription by the owners

Doesn't matter look at Howard Hughes. Rich people aren't any happier than anyone else. If you're content with your life that matter more than anything in this world, than to be constantly looking over your back and wondering if you'll keep what you have.

I make 3000 dollars a year 💀

You gotta get your life together if $2000 is comparable to 1M

@@blakesking6615 do you aspire to be daft on purpose or do you seriously just lack the ability to recognize a joke?

@@blakesking6615 hear me out we broke

​@@blakesking6615 I pray for you

Would you still hire SBF for your company

You shouldn't put decentralizes money on a centralized Platform 🙂... What is iven the point of that 🙄

He got 15 mil for saying that. Dude made moneys.

Value an idea by merit, not by who said it.

@@jonathanplamondon1719 to be fair anyone puting decentralized currency in a centralized Platform is an idiot

Creditcards the correct one gets you intrest on the money put on it , if used wisely and pay intrest on costs back asap gets you also a good credit rating which influences allot in daily life

Well you should never spend more than 10% of the limit so realistically you’d only be spending 200 of it

@@eelx And you think this is somewhat close I can spent? With the little money I earn, I can be happy if I have a positive number at the end of each month,

The student credit card from Discover has a limit of 1500. 2000 credit limit is very low.

i mean usually the lowest starting credit is 500. im just confused because i remember 3 years ago when i had my first credit card with a 1000 limit, i accidently went over well over 1000 since i forgot to pay. I realized a month later and paid in full but still that's damaged my credit score to this day. I'm not sure why my credit card allowed me to go significantly above my limit, so i'm not sure about the validity of mr wonderful's statement here

U clearly don’t understand credit

The thing he’s warning against is really using debit cards. If someone hacks your debit, they can drain your bank account.

@@zacharybrown1486 my debit got hacked years ago. My bank returned the money back to me, it’s the same as credit cards

​ These people haven't a clue. Tell them to look at their debit cards again. VISA written in large letters.

That’s a relatively low limit, my lowest is 600$. I have 5 credit cards

@@EpiclyFamous I godda say, this is probably an 18 y/o like me, 2000$ at 18 to casually spend “online” sound alien like

It is low when you get in your 20s. My lowest limit is about 1200$. They give you $800 credit lines on payment apps nowadays (it’s basically a credit card).

you should only be spending about 10% of your limit. so if you only spend 200, 2k is a good limit. limit is not equal to how much you spend

@@TrevA102 true. i use one credit card to just keep track of my spending (fuel, eating out, etc) because the app is nice at giving a breakdown.

That’s nowhere near middle-class

Yup, that's not middle class. Sorry kiddo.

He doesn't always have the greatest advice. Get a credit card if you can spend it like a normal person (spend what you have, act as if its a debit card)

​@@scare5602you will never understand the feeling of being debt free

@Celadonsand I might believe you if your debt free including home and have a million dollar net worth.

​@@scare5602 well this is based on research that's for the average person

@@scare5602 Normal people can't use credit cards right😂 very few are actually capable of using then properly

Actual good advice thank you

Bro really ended debt by using debt

You were supposed to destroy the debt not join it!!

@@CrypticCobra your confusing

@@vray48 you are confused by a simple starwars reference?

Because he’s a millionaire

ikr mf's that think a 2k limit is low don't need any credit card advice

​@@Shawndjt nah I think u really have no understanding of money. A limit isn't supposed to be used completely. On average u spend 33% of ur limit and 666 usd per month isn't that much.

@@number1clownontheinternet not per month

@@Shawndjt actually the average in the us. (He's from America)

One for blackjack, one for hookers 😂

No, no, no, no, noooooo!!! Not *credit card* for sex. *Pre-paid* card for sex!!! (The wife still sees the credit card bill.) If you never learned which card to use for sex, we as a country need to teach better *financial literacy* in the schools.

Paying? For sex?

I thought tha same years ago, and I think I am not specially intelligent

Do they have virtual cards in the US ?

@@diegobarbosa2900 yeah, and most places don’t use them. Easy to access information. As a cashier, that information is stored in the computer and heaven forbid someone hacks in. This is with any card though, physical or digital

@lolseagull exactly my point. However, there are ways to help prevent it from happening. Very simple, once you know how

@lolseagull simple, really. Have a gun on site

Well gotta say personally I’d rather be 2k in debt than 10k

@@goldtyphlosion7537 well just saying for some peaplr 2k is not Small number either

Just say you dont know how a credit card works

Yeah that’s not how a credit card works lmao.

You clearly don’t understand how a credit card works

He is if you have money.

It is good advise. If you’re just on a debit card you are really losing out. Good on you if you know you don’t have the self control to not overspend but for those who can control themselves a CC is nothing more than a debit that gives you some cash back

it is though

this is good advice

poor

maybe the joke goin over my head or sum but iont think this something he needs to say. it seems obvious

You'll only have issues paying off your credit card if you're spending what you can't pay back...

You build credit over time.. If you have $30,000 in total credit and you put $3000 on a card that's 10% utilization that doesn't hurt your score.. you gotta learn how it works and calculated

If you're not financially stable you shouldn't even consider getting a credit card

or just not have a credit card and save the money that would be spent on interest

Let me tell you to not own any credit card at all.

@@cocomojo1858 no owning credit cards is a very good way to build up your credit. Just don’t use it for big purchases like a pc but more like clothing or groceries

​@@cocomojo1858 that's how you end up on the streets

@@RajuMoorpani you will end up on the streets only if you don't pay the loans you couldn't afford at the first place.

Its not your money to begin with, its the banks. You aren't responsible for losing that money.

Get some bread then bozo

@@joshuathomas6222depends on how you got scammed tho

@@parexep994 It really doens't lol. Well I suppose it could depending on if the way you lost it was just... spending it yourself and claiming it was a scam. Can't just buy shit and pretend it's fraud, that's how you end up in jail for credit fraud.

what about that $15m from FTX?

@@edrader smart investment, it quadrupled in value

Credit cards don't connect to the bank...

Not as easy as that. My aunt got robbed for 5000 AED and contacted customer service and the bank multiple times but nothing worked

@@Adamieus0 Well, here in the USA, there's federal law that limits your liability to $50 if your credit cards are used illegally.

True ^ You will only possibly be liable for up to $50. Report the fraudulent purchases ASAP and you're good

Get your credit up

i mean, 2000 isnt even enough to pay a months rent for me so id say its kinda low

​@@oddmerlin9797 bro you spend more than 2k on rent??

@@Nope.You. yep, where i am rent for an appartment is usually between 2000 - 4000

@@oddmerlin9797 It may not be enough for house rent. But HouseRent is Nearly 30-50% of what family earns in entire month, Isn't that a lot of money to dispute with?

I’ve never had an issue with my debit card, 3 times it has been cloned and every time they have gotten me my money back.

@@Putri-nl2ggyeah idk why there’s this general rumor that credit cards have more protection. It’s all the same banks investigating the fraud and bailing you out. Doesn’t make much of difference if it’s through a credit card or debit card.

Visa, AMEX, Discover, and Mastercard all have the same term agreements when you use there cards wether it’s a debit or credit card. You’re not responsible for the fraudulent charge and you will be refunded as soon as possible for the fraudulent charge

That’s why I have my debit card. I also have a spending limit on it and I have alerts for anything that I buy or anyone “ unauthorized” activity

Just pay it off every month

something that works for me is to put EVERYTHING on one card.. utilities, groceries etc... your going to spend money on those things anyway.. put it all on autopay.. then, you pay it off through your checking account every month.. this helps build credibility AND earn max rewards that are offered through the card... also, you can request credit limit increases every few months as long as you don't have any late payments and are in good standing with the card company... doing that last part also helps raise your credit score...

@@derekwilliams3093 I have no idea what you're talking about. In my country a credit cart is a card with which you pay and then you get an invoice. I don't know how this would build credibility of give you some kind of reward. It's just an easy way of loaning money for the month and I don't see how that would help a business unless you're a couple of weeks from some serious cash flow and need liquidity NOW

@Trade_Center1what’s the point of trading when you can just get into MORE debt? You all a bunch of boomers!

Just don’t spend more than what you actually have 😂😂

Sounds like a skill issue

You missed his point. If 2K is too much for you, call your bank and lower it to whatever suits you. Im not a big fan of Mr. wonderful, but he does make good points on many things. The FTX scam, should be a lesson, what those guys do and say are 2 different things. Meaning, you need to use your judgment.

juice wrld

Thanks for watching... Write me to participate in our current investment Offers / insight...TEXT NOW 👆👆

very smart!

Yeah... I think this exists pretty much everywhere, it's just a recent thing

Same in Bulgaria, long live revolut

We used to have systems like that in the USA but they've all be cancelled over the years. My favorite was BoA's ShopSafe.

Thanks for watching... Write me to participate in our current investment Offers / insight...TEXT NOW 👆👆

Or a car

Also why does he think you can't get your card stolen from in person transactions? The only time my card info has ever been stolen was in person

@@900DonkeyPunches Because a physical card being stolen is much more avoidable than an online card getting hacked. Both are avoidable but keeping your physical credit card safe is easier as it only requires you to be responsible and careful. Also, robbery in broad daylight is less common than getting hacked online so i’d agree with kevin’s advice.

@@Zed-xl9nv I didn't say getting your card physically stolen, I said getting your card info stolen

@@Zed-xl9nv card skimmers are a thing. You can be careful and notice them, but they do exist. I will agree with you on the fact though that it's much easier to protect yourself physically than virtually. If a company you buy from get hacked, you have no input on preventing your credit card information from being stolen.

@@deuslapis5247 fr i went to a shady gas station and boom next is $500 gone

Getting a credit card is important to help build your credit score. In general, with a credit card, you can get new gadgets (phone/laptops etc) and pay monthly with 0 down payment and 0% over 24 or 36 months. The difficult part is being disciplined with your spending. Use your card for expenses and pay on time, don't pay interest. You don't pay a penny more if you pay on time, that's the part most people have difficulty with, paying on time IE not overspending

Bruh, if you use a credit card responsibly, you actually make money from it. I use mine and pay it off before the interest hits every month, and I get cash back on those purchases. Then i take that cash back and do all my Christmas shopping, vacations, etc. I went to the D.R. last year and didn't spend a dime of my own money cause of all the rewards.

Doing that is a good way to never build a good credit score, as long as you a responsible with the card you don't have to pay interest. A credit card can even save you money, if you have one that gives you 12-36 months interest free (not hard to get with a decent credit score) you could buy a car in full at the dealership instead of paying the dealership any interest as you pay it off overtime.

Credit is king in todays world

These people are coping hard af.

He said Credit cards, Not ATM cards

@@kcstott same thing Kerry, most of them can be setup so you need to put in an approval code from your phone.

Nah the problem is, if the hacker/scammer has all your card info, especially if you've bought from them before. They can still bypass that confirmation system, and the bank wont give a shit when they steal from you. So might as well take extra measures. Eg. If you buy a product for 5 dollars from any website, let's say a website disguised as ebay or anything. If they manage to charge 5 dollars from you, they will have ur card info n the bank has already approved their site, they will be able to charge 5000dollars, without the banking informing you. Summary: This technique can be hacked and the bank won't take responsibility if scammers do that. It doesn't matter that you're super careful about the websites you buy from, you're still better off with a low card limit.

@@MazdaRX7007 Except it's credit, they are stealing from the bank. All you do it report it as fraud and you are not charged. It's incredibly simple.

​@@CrypticCobra < this guy gets it.

Bro doesnt know how credit cards work 💀

@@kunjpatel9570I would contend you dont either based on this take but I digress

Exactly correct.

He is from a different generation lol

You lose credit no?

Hardly happens.

You proclaimed the poor to be blessed, Lord Jesus, for the kingdom of heaven is given to them. Fill us generously with Thy gifts. Teach us to put our trust in the Father and to seek His kingdom first of all rather than imitate the powerful and envy the rich.

Well, it’s a relatively low limit compared to other credit cards.

Why's your life savings 1k

Don't worry, savings will increase. I also only had 1k life savings when I was 7

@@plantedlife and I bet your parents had money

@@Dragonlord1468 Not really, we were a middle income family, most of it is new year's money that I received from family members. Also a lot of saved pocket money

Ramsey is right about many things, but he's out of touch on credit cards. I understand he caters towards people who struggle with self control, but any responsible adult can and should use credit cards for their various rewards and benefits without ever paying a dime of interest. Credit cards themselves are not the problem, it's people's impulse control and lack of accountability that get them in trouble

MY Daughter did that. She was very good at using $500 limit card and paid it off monthly. She did so well the company INCREASED the amount. She did not ask for it. Damned if you do, and damned if you don't. Go figure!!!

@@muriel8922I mean if they increase the amount it decreases your utilization which helps bump up your credit score.

Hahahaha, I’m laughing at 5 in the morning!!!

I hope God makes u rich

Me too lol

Some cards don’t have the numbers on them. I’d say instead of #6, try to make your main card one of those. All the others are valid quality advice. Oleary’s advice too though. You should do all these things. And freeze your credit.

#1. Use virtual credit cards. They allow you to set a one time transaction with a unique credit card number and closes right after. Next purchase it generates a new cc# and limit, while your real card is hiding in the background.

None of this is necessary. Credit cards have $0 fraud liability. Just one of the reasons I stopped using debit cards and use credit cards for everything.

Unrated comment. 🤣

If everyone knows there are 2 wallets, won't the thief ask you for both?

@@ashwinsnmv let’s clarify: not everyone has 2 wallet， 70% poor, no wallet or wallet with no money inside, just ID, the other 20% middle class, we dress down and simple to look like the 70%, we do carry 2 wallet , the second wallet is hidden inside pants, inside shirt pocket, inside socks， waist area…. It takes time for them to search you and all they want is a quick grab and go, they don’t want grab attention…reminding that the fake wallet still have some real cash and fake expire credit card cause the thieves don’t check expiration date when robbing u… So the conversation goes like this: Thieves, usually in 2 … 1 robbing and a spotter: they come to you and say: Thieves: Give me ur Nike, cell and wallet You: U not taking shit unless u carrying a gun Thieves at this point lift his shirt and show his gun You: ok U can take my cell Thieves: ur wallet too You: I don’t have much, open ur wallet and say: I put my money behind my cell case Thieves: shoes quick: You: give to them.. can I keep the socks? Thieves: what else u got? You: nothing nothing, take the shoes, go go Sometimes they will search you but many times won’t… they are in public day light … unless u in dark alley… One thing for sure: they won’t shot you if u just give to them… the bullet cost a lot for them and is hard to get for them so they will save it for better occasion the rich 10% don’t have to worry,they rarelly walk in streets, the ride bulletproof cars and have security gates must place they go… U don’t keep flashing ur iPhone or taking pictures in public…. U need to brand in… Welcome to Brazil guys

@@timtimcheng3357 I've heard that recommendation for a secret pocket for traveling tourists. Didn't realize natives did that too but it makes sense. They get robbed too.

Debit, thank you god.

Yeah I hate building my credit score so I can take loans in the future to build business.

@@therattleinthebook397 you do you, boo. Meanwhile, 90 percent of rich people get rich by doing the opposite of that.

@@ericchapman8956 can you elaborate? Every so often I hear a wild statement that shocks me

@@ianvanessen2166 according to the S and P and a study done by the Ramsey Group, around 90 percent of millionaires became millionaires by staying out of debt. Of the 100 million credit card holders in this country, over half are at or below the poverty line. There are a few more studies that suggest credit score and total wealth have no correlation. In an interview with Dave Ramsey, Mark Cuban speaks on how credit cards are some of the largest inhibitors of wealth. Many people get credit cards with the intentions of paying them off immediately in order to build credit, but most people who use a credit card owe between 1000 and 7000 dollars at staggeringly high interest rates. Credit card companies do a very good job at manipulating people to use them and when we spend money we cant see, we spend more. Thats a fact. The largest wealth building tool is not your credit score, its your income and when you're paying off debt with interest, you are not building wealth. Ive seen the same videos youve probably seen, get a loan, use the money to get rich, pay off the loan, but in the majory of case thats proved not to work. The math that they give you is correct but it doesn't factor risk. The Ramsey group did a study of over 10,000 millionaires and virtually none of them made money that way.

Same here. I also went 1 step further, DISABLE THE TAP FEATURE ON DEBIT CARDS.

What he said in this video was very logical

@tevynthomas agreed but he screwed many people over for advertising for ftx. I don't believe anything he'd says at this point