Why Credit Cards Are A Scam - Honest Ads 

I bet we all know a lot of them... The worst slave I met was: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lCl7I7png08.html

Credit score are only usefully for broke ass retards that need to borrow money, how do you think you get a good credit score to begin with??? Get your mortgage the old fashion way, pay for everything else with cold hard cash.

I'm fourteen an this is deep

@@mateogonzalezortega You don't know deep. I've been digging for 14 years and almost hit China.

Michael Langendoen Tell me how far you go in life without learning how to leverage your money LMAO takes money to make money

He'll ya

😂😂😂 I'd watch religiously for sure. Truth sounds do much better than the smoke they're blowing up our arses 😳

Cnn and MSNBC would shut down tomorrow

then stop watching nbc

Just watch every single news channel they're all that dumb

Imo I’m from Poland and once I saw an American asking what documents he has to provide to the landlord in Poland. He also made a long list of different documents you need to present in the US. Everyone was like - bring an ID with a PESEL number (something you’re probably always carrying in your wallet anyway) so he has data to draft the contract.

Yeah I never understood why Americans have to “build credit history”. The bank can just look at your income and expenses and decide if you can pay them back. Why wait for months / years.

This sounds ugly. I only lived in the US in the 1990s, no credit no nothing but there were absolutely no issues with rent. No papers involved, just pass the good ole cash and don't set the house on fire.

So I can’t pay for the house with my debit card? Even though I would have the money at least for part of it.

Can confirm getting an apartment lease in the US with no credit is a nightmare

believe it. same happened to my mom. she didn't understand interest at all. always paid the minimum.

They should make you take a test on this before you get a credit card…

@@HUGHMANN7 If they make you take a test on this, how will they earn? CC companies are only running because people don't pay debt.

They weren't dumb they were ignorant, as in they didn't know. It's a trick and a scam, one that's very easy to fall into because, as was mentioned in the video, you almost need a credit card for credit. Because without credit it's a lot harder to get a loan for a car or a house.

this is simply misleading the bank advisors. They say you always owe the same amount, but the wages go up so that in 10 years you will only have to work half the working hours for this debt. Of course, they don't tell you about compound interest. they suggest things that lead to the conclusion that the fur coat only costs half if you don't pay for it for 10 years.

He doesn't speak about using money abroad though. Taking money with you above a certain amount is illegal

@@MSAYEH Use a debit card.

@@dh9008 Use somethign directly connected to your checking account abroad...what a moronic idea lmao

@@dh9008 i thought the whole point was not to use any form of cards. Congratz now you are using another card with other kind of interest and limited geographically.

​@@MSAYEH Debit cards don't require you to take credits. You're paying directly from your bank account and depending on your settings can't spend money you don't have. That's a big difference.

We have. Suggest reading anything by Robert Reich, Chris Hedges, Professor Wolff.

Brith is a scam

Welcome to the world, it's nice to scam you-life

I've paid all credits in time and used only for small transations, then no scams for me :D

Now I'm starting to thank I'm from the third world

Yup

Thats capitalism in general

​@@anthonyfaucy2761 Ah, the joys of blaming everything to a single catch-all phrase.

​@@bakerboat4572hey, just because it's simple doesn't mean it's wrong

@@bakerboat4572 It’s actually an economic system, and said economic system has done something so great that no other system has done before: *Made life slightly more livable.* Slightly as it usually ends up creating these issues we have today because it sometimes incentivizes them.

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

I think they will never. When we finish schools and come out, we start to learn from scratch about life. "Schools are the biggest scams, teaching the students nothing about life"

If you don't spend beyond your means and pay your card off like anyone with a brain there's tons of benefits to using a CC 🤷‍♂️

@@andrews2438 Amortize whenever possible. Do you understand, though, how difficult it is to convince people to stay withing their means and amortize when it's so easy for them to just go into debt instead?

@Rick Gould What about orphan children?

@Rick Gould that's really sad 😔

now 2.5 milion subs and views but only almost 90k likes-which are probably more important for monetisation

@@olegoleg258 oh, is that so :(

Oleg Oleg no it’s views, 1,000 views is $1 which today is around 80p

Yes 2.5 now

Lol

that is very true, the credit card debt in America is about 687 billion dollars. I stay away from those things.

@@yonkobuster112 Yep. Outside my transportation and house me and my wife don't have credit. We build credit on her car and my bike that we can pay twice if we want. If you can't pay the monthly payment (by choice) for your ride twice then you can't afford it.

@GNHi .. When I was a child in my town and anyone walked into a food store and was attempting to get food by using a credit card , people would look at you like you were a worthless bum ( especially if trying to feed a child using credit👶👶😒😔) .. that couldn't afford to feed or take basic care of himself / herself .. that person was looked at by the townspeople like they were a lazy , leechy parasite that couldn't even feed themselves .. ostracized and shunned .😤😤😤😤..😝🖕🤨I strongly suggest to use cards only for emergencies .. not daily purchases .. especially food , fast food or otherwise..cook more at home.. it's easy to not notice how much you spend when it's not actual cash money changing hands 💵💵💵💸..why did the rent - to - own companies go out of business? - think about that for a minute.. Question : why do banks send monthly statements ? instead of **weekly** statements?! ..because it's easier to dig yourself further into the hole 👇🕳️👈 without noticing how much you spend, that's why 📈.. it would snap people out of it 😴💤 if they had to face a **weekly** bill , instead of a monthly bill.. banks like keeping people in the dark and asleep 💤.. it makes banks richer🤑🤑🏦🏦 .. as you spend yourself into the foodless , leaking , freezing poorhouse oblivion😭..🏚️🏚️🏚️..😒🤨🤨.they love that..🤑🤑🤑 time to wake up , people☕☕👋🤚👋.🙏🍀👀just my humble opinion all stated here.. good luck .. I think you will need it.. 🍀🙁😟☕☕☕

Lies again? All credit goes to me

Credit card companies must really hate you. They already hate me for opening up my first credit card and paying it all off every month I have a balance on it.

@@tankdogization It depends on the credit card company. Some companies hate users who do this while others tolerate it or encourage it as they use their credit card reward system to cross sell you other financial products. Chase is good about encouraging people to game points because they will try to sell you auto loans, their wealth advisor services, etc. AMEX hates users who game points because they have nothing to cross sell

@@tankdogization That's where Credit Card Companies came up with transaction fees that they charge merchants.

26 years now and I have also NEVER paid interest or a fee. Though I myself put 90% of my purchases on my card, I do not spend beyond my ability to pay it back and I am far from wealthy - I keep a budget. Though I’ve lost track years ago, I have easily banked 5 digits+ in reward payouts. At one point I had $1,800 saved in ‘Subaru bucks’, which I used to buy new tires and cover maintenance (that card has since folded up 😅). To increase my ‘rewards’ beyond my earning capacity I’ve even gone out of my way to offer my personal card for reimbursed business expenses when convenient. One year, I put close to twice my yearly salary on my card through business trips. Why my boss did not issue a company card is beyond me, but I have since freely shared my methods. 😊

@@tankdogization They are charging the merchant fees for every transaction.

Haha joke on them I left the credit system and am not paying back the now $75,000 in student loans. I already own my house and have no need for credit with more cash then I have ever had. I also don't have taxes coming back each year so they can't take any of that. They can't take my income because I make my money from investments. Can't scam a scammer!

Eric Tennant How long has it been since you left college? 😂

i never took out a loan and i'm working in my field. also, parents never paid for any of it, they're pretty broke. I went to community college then the cheap state uni, got scholarships and worked.

$35,000 for engineering... Hello unemployment... Could have bought an apartment...

Danny Benhur I just got a job in WebDev for 130k... something is wrong here

The only thing th at would scare him into lying is that we would all get so fed up that we'd decide collectively to not make him own anything anymore. That's called a revolution

There’s this town in Norfolk, England where every business is called Roy’s and owned by the same family; the restaurant, outfitters, garden centre, petrol station, toy shop etc. Always reminded me of Rodgers many businesses.

Right. He looks like the first ever slave master's youngest grandson.😅 .He's telling the truth , waking people up, & none of his videos have been removed.

Plot twist, hes trying to make people boycot every company hes honest about, making sure only he can profit by sweeping up the pyre

@@pallasathena1555 0

Well it isn't is it? That would never occur in this current state of education.

College isn't mandatory. I know you want to brainwash people with your propaganda with your financial education. Don't get me wrong, I am not saying anything against this particular video, this video is completely on point, the point of this video is capitalism is a scam. I never thought in my life about taking a loan, or having a credit card. Only if I was in diar need of a roof over my head would I take a loan.

@@smrtfasizmu6161 ?

How to function in society should be the entire last year in high school at a minimum. How to write a check and use credit, how to balance your bank account, how to write resumes, apply for jobs, sell yourself in interviews, how to rent an apartment and deal with landlords, how to get health insurance, how to avoid scams, etc.

@@luna-p renting an apartment nowadays i a scam as well they chare 1000 dollers a month

Best advice to teenagers. Say it and say it OFTEN. I have several cards now and not an ounce of debt despite starting over $10k in the hole (student loans that I ACTUALLY benefited from, surprise surprise), and it's because I learned early how to manage money properly. Rule 1: don't spend money you don't have unless you have absolutely no choice. All the remaining rules pretty much follow from there.

you're* sorry :(

Oml I loved personal finance with him 😭

Dave is the man.

Sounds well

me rn.

That really hit hard on me...

That made no sense

Hit me hard too and it’s so true🥺🥺

*rolls into a ball and weeps* 😢

Credit Unions are the way to go. They usually have zero fees or balance requirements. The only thing banks offer is they have more physical locations and if you need a loan you can usually get a bigger one from them compared to a credit union.

@@DoomFinger511 and a lot of other stuff. like investment opportunities.

@@tobymacdonald5893 Like what type of investment opportunities?

Most investment firms are now dabbling in bitcoin whether their investors know it or not. Stay away from bitcoin folks. If your investment portfolio has stealth bitcoin investments hidden away amongst it somewhere along the line, be very wary......afraid even.

@@robertmcmillan3638 it’s usually a small part. And it will probably go up in the long term (I’m talking like 4-5 years)

I had a friend who asked his school if they could do that. He got suspended. No joke, suspended.

@@smallsthetimelord4066 sure he did

They do in mine

I never learned a damn thing about money in public school, but damn right I can calculate the trajectory of a cannonball with algebra and calculus!

What schools did y’all go to? Public schools here teach about money in grade school. Your parents also have a responsibility to teach you things. Maybe your parents failed you?

so did the dinosaurs.

rip disonaurs, didn't do anything but still got roasted by rog.

LOL!

RIP bro 😔😥

0:43

"I'm Roger by the way, and I'm back." Perfect. I truly needed some levity this morning.

Michael Swaim, Soren Bowie, Daniel O’Brien, Katie Willert, Katy Stoll, and Cody Johnston are some other names from 2017...

Rogers back so you're ok

This. Also, I've been using a single credit card for many years now and not once have I bought something I didn't need. Always paid it back within a day or two of the statement being issued.

This comment should get more likes. The reason people think cards are bad is because they spend thousands and pay the minimum and then are unable to pay it back cause they pay interest

Exactly! Pay back on time and never go above your monthly income. Just plan for your needs.

Lol the minimum payment is just interest not the actual purchase

I use mine as a “third party” to run my charges through so if my accounts get hacked they take the banks money not mine.

Don't use credit card

My rules 1. DON'T GET ONE UNTIL YOU HAVE A JOB I don't trust myself with a credit card yet

@@theroadtocosplayandcomicco5840 I don't know where you live, but in most countries you cannot get a credit card unless you have a job.

@@RaduRadonys if someone with a job cosigns then you can get a credit card.

@Baron Von Grijffenbourg that's the thing, credit cards are targeted at those who -don't have any money- who work -three jobs and still can't pay every bill on time- it's targeted at the poor who in desperation try to buy time with credit cards

We have both. But the credit that he mentioned, that's real. When you buy a house, if you can't afford the entire thing outright (and they cost $400,000 on average) then you have to get a loan. A loan will have interest, and that interest is based on your credit score. Your credit score is based on how frequently, and effectively you can use a credit card, and pay it off. If you don't use a credit card, then you won't have a credit history, and they will see that as bad, and give you a higher interest rate. So everyone who isn't rich is entirely reliant on being in debt to a credit card company, so that they can show they have the ability to budget well enough to pay that debt off, so that they can get into more debt when they want to buy a house, or car, or have any kind of medical treatment. Of course you can still get those things without a good credit score, it will just mean that the interest rates are higher, and therefore it takes longer to pay off, and you're less likely to be able to pay it off, so you'll be more likely to get stuck in and endless loop of paying off debt that is growing ever higher, at a rate that you can't afford to keep up with, unless you get another loan, or credit card to pay off the first one, and so on. But don't worry the government has put laws in place that enable this practice, and make it easier to do, because the credit card companies are one of their biggest sponsors, regardless of the political party they are from.

@@LeafMaltieze How paying off a loan quickly is better financial responsibility than not taking a loan at all? I’m from Poland and here if the bank sees that you finance everyday spending with loans they will assume you are irresponsible and thus you will be less likely to get a mortgage. In general in Polish culture having any loan other than mortgage is viewed as being financialy irresponsible.

​@@player400_officialI wish that was the case in the US.

@@player400_official It gives the bank data to judge how responsible you are. When you're not taking out loans, you're not leaving behind a paper trail, so if all of a sudden you come to the bank to ask for a giant home loan with no history to back up your trustworthiness, the banker will assume the worst and saddle you with a high interest rate. I'd also like to point out that responsible credit card users always pay off their monthly balance in full and on time and thus pay zero interest. Also, if it gets stolen, you can void all spending on that card after the reported time of theft and lose nothing, which you can't do with a debit card. It basically becomes a debit card with reward perks that is shielded from your bank account.

@@LeafMaltieze How about... don't buy a house until you can afford it?

Respect.

>Insert a generic 'yeah but after hours is the best' comment here

Awesome joke Rachel. I wish I had a good follow up to that joke. Unfortunately my sense of humour is bankrupt.

Rachel Arkless 👏👏👏

There seems to be a lot of interest in this joke.

From exploding dinosaur remains.

why use debit cards?

@@unfuzzy Because using a debit card is like using cash, it comes from your bank, not some guy who's gonna charge 10000000% interest.

@@notapirat3387 - using a credit card is like using cash so long as you pay it off on time. and banks often charge a service charge for using a debit card. THE POINT IS debit cards are *also* square pieces of dinosaur carcasses with numbers on them. or did you not get that part?

Yes

Dan Clark I always thought it was "hi ho" but your version makes much more sense

Yes lolol

@@harry5542 The correct version is 'Hi ho, hi ho, its home from work we go'. Who sings on the way to work?

Yah but you will work to pay the money back but you aren’t working for yourself .

So that comes to about $30 of benefit a month for the risk of getting buttfucked forever, great deal my man.

Joe ...or you could just use a Debit card. My Discover DEBIT card gives me 1% cash back.

@@teranyan The benefits are actually credit rating - which is dumb, but a fact of life - better credit score has a lot of benefits, most importantly on a house purchase. There are also more safeties in place for when someone without permission uses your credit card, then your debit card has. Those are probably the main benefits. Credit cards, are fairly good if you use them as OP says - as your debit card and don't pay interest. If however, you don't manage your finances wisely, and end up spending more than you can afford - you're going to have a bad time. And the sad fact of the matter is that the problem is usually not the credit card, but that the person does not understand how to use them responsibly, because no one ever taught them how to use it. So what is missing is a class in schools where you are taught how to manage your budgets.

@@teranyan the risk is so low if you spend within your means and setup auto payment. yeah, then it is a great deal. just cause people are irresponsible doesn't mean you have to.

@@teranyan What *RISK* are you possibly talking about? Is the credit card going to sprout legs and go spend your money on your behalf? Where the hell is the personal accountability lmao? There's legitimately ZERO RISK.

😂😂😂😂 i can't

Too accurate and funny

I still believe in cash!!!

😂😂😂

Luckily on euros we have architectural bridges and other stuff 😂

Or just buy what you can pay for.

Studies show that people who use debit/cash spend less, so your cc is costing you even if you pay it off every month. Here's a novel idea: If you can't afford it don't buy it.

@@Youdontknowwhatliterallymeans But you also need a good credit score so you can get your own place. It's pretty much the only reason why I use a credit card.

@@thexreaper6930 Not if you use manual underwriting.

They still earn the fees they charge the merchants, and for that they increase prices. And you pay the increased prices.

True and untrue. If children or other relatives co-signed for things that left the deceased in debt, usually, the debt will then become their debt, because it was their loan too. Also, debt after death is settled through the estate. If loved ones are expecting an inheritance, they may get less or even none, because the debts will be paid back/taken by collectors first.

@@morningwoodfarms713 minors can´t legally sign or agree to anything

This highly depends on the country. In many European cooky l countries, the debt can very well be transferred.

​@@morningwoodfarms713cosigning makes the debt your responsibility whether the original borrower is dead or alive. Never cosign to prove you trust someone. You hear that girlfriends?!

Unsecured debt after death has a time limit on collection. Creditors must go after the estate within state time limits.

asraf khan Money really is kind of gross when you think of where it has been, who has handled it, who has had it in their pocket, who has snorted cocain through it. This will be the selling point when they sell you having a chip inserted right into your hand. Scary? Should be, but it will happen.

asraf khan 😂😂😂😂

use bitcoin

Just launder your money so it is nice and clean.......

asraf khan 😁😁

What if you have groceries to pay for (underpaid after bills), an unwell pet or a house emergency? And no, insurance isn’t the solution to the latter 2, as most require you to pay upfront and present bills later, or pay a claim fee. And although foodbanks are cheaper for food, most people would rather get things they’d eat, even if it means it costs them an extra few pound. I always aim to pay at least 10% of the Card off each month.

@@FateBoost If you can't get groceries after paying bills then find a way to increase your income

L. Torres Not much else can be reasonably done beyond working 12 hours a day, 7 Days a week. The issue is called being paid below the real living wage.

@@FateBoost welcome to the world of modern day slavery. My friend says he wants to move to a place that pays better but the cost of living in that area is way higher. Guess what your in the same situation you just shuffle more money around.

@@FateBoost Two words: Emergency fund

please dont compare UK to US. Murica is a scam lool

Get a secure credit card from a bank. Those are credit cards that you give them cash first, and the amount of cash you give them decides the balance of the card. This way you never go in debt because if you can't pay they use the cash you gave them to pay off the balance. Start with a small amount, like $300, only use it for small purchases like gas, and pay it off every month.

Seriously though a simple google search would answer your question. You don't need a credit score to buy a house. You can just use manual underwriting.

@@Cody_Ramer just to clarify I live in the U.K. and have bought a house and to have a good enough credit score all I needed was to be on the electoral register, have always paid my council tax and bills, and not to have big unpaid debts (other than student loans).

It's not a trap. I guess we shouldn't expect people to be responsible with their money, though.

This is not a trap. This is called capitalism. All hail capitalism!

It's called knowing the consequences and doing it anyway because... "Ooh! Shiny!" And then blaming the evil companies, society, capitalism, socialism, whatever ism just so long as you don't blame yourself. Generation Y in a nutshell?

@@jessehibbs7042 Do you understand the basics of capitalism? You take credits from banks and pray to god your investments pay out in the end while banks collect their credit taxes and sell debts in packages to other banks just to get that juicy snowball of debts rolling. just like Russian roulette until it explodes in someones face.

Paul Googol not quite right sir

Same here

saddest lmfao i've ever read

*cries in truth*

I tell this to everyone. The best and most important thing you can get is a diploma or equivalent. The rest? Trade Schools. Schools that give you skills and experiences. All that other shit about needing to go to the biggest and baddest university is complete bullshit. Schools are a business and will do anything to get you to believe that it's something you must do. What's worse, their politics are getting more liberal in order to create more profit. Shit like government assistance programs but this time they will jack up the prices through time. It's ALL BULLSHIT.

Why would you do that? That negatively impacts your credit score and you have the option to not use them lol

I’d never cancel mine, the only thing I use debit card for is paying the credit card bills other than that it’s completely useless

AMEX tends to target the sophisticated consumers as the perks you get for using the card encourage you to keep swiping even though they know they're not going to earn a dime of interest from the average Platinum Cardholder.

The swipe fees paid by the merchant get forwarded to artificially inflate the shelf prices for the customer. Therefore, the "cashback" benefits are actually just a way to recoup the cost of the higher prices on everything you buy where they accept credit cards. Unfortunately, this also essentially makes swipe fees into a form of inflation because it automatically devalues paying with cash or debit.

Yes and if you pay in cash, you're still paying those inflated prices so you might as well get a credit card and swipe to get those benefits. @@TwistyTrav

Dean Champion 😮 Wow!

DEFINITION of 'Deadbeat', in the twisted logic of the credit card companies' world: Deadbeat is a slang term for a credit card user who pays off his or her balance in full and on time every month, thus avoiding the need to pay off interest that would have accrued on their accounts. A deadbeat, also called a “nonrevolver” or a “transactor,” gets this derogatory name by being a potentially less profitable customer for a credit card company than a revolver, or someone who carries a balance from month to month. By not carrying a balance, a deadbeat does not incur any interest charges, and by paying on time, he or she does not incur any late fees. However, so-called deadbeats in the credit world also do not rack up bills they never pay, so they do not generate significant losses for credit card companies like true deadbeats, who do not pay their bills.

Thank you for expounding on the definition.

Your welcome. Yeah, I laughed when I first heard that, but then I thought about it and realized that they treasure the people that they can take advantage of the most, and it made more sense.

@@deanchampion6777 Credit card companies still profit from deadbeats. They charge a credit card fee to businesses.

That is assuming that you were otherwise not going to spend that money at all, if you use a credit card for your everyday expenses that you were gonna spend anyway then cashback is pretty nice considering you don't get any reward for paying with cash. The problem is not credit cards it's simply people spending money they don't have which is stupid no matter how you look at it. If you are digging yourself a hole to get that 2% then you are an idiot but getting 2% for free just from your groceries, bills, etc. seems like a great deal to me.

@@cameronmacdonald294 However (and this won't happen) if no one used credit cards merchants wouldn't have to pay the fees to accept credit cards so products could be less expensive (or not go up in cost as much) - then everyone gets cash back - but it's cash they just never had to give out in the first place. Currently cash back is funded by those that don't use credit cards.

I like how their "cash-back" is metaphorcally morphed into dirt because that's what t basically is... dirt.

@@erikanderson618we're too far gone buddy.

@@erikanderson618 Well that and the people who do use credit cards and don't make their full payments every month

Well you can still get one. Just pay it off every month and don’t spend money that you know you don’t have. If you are disciplined the rewards and building a credit score makes it worth it.

Ty Tommy This guy is talking to Bernie Sanders voters who wanted the nation to use it's credit card. We can't afford to use the national credit card you basement dwelling tards.

Khashon Haselrig lmao

@AL Dude, yes, we heard you the first time, even if it was a good point spamming it doesn't make it better.

Ty Tommy Yeah but I'm not a tool

+A L who wanted the nation to use it is credit card? What does it is credit card mean?

STUNNERJOKES nice!

Good advice

Actually Jay Z said it first

Lol was looking for the Jay Z reference

Those are not Dan Lok's words

Not exactly as easy as that. You literally have large part of society that will not allow you to enter them or use their services, unless you have credit history, even if you don’t want to use credit. So it becomes a chicken or egg. You don’t want to be in debt, but you need to prove that you have been in that in order to access debt, otherwise you can’t access anything. The entire scam of credit cards is it makes a systemic problem. Feel like an individual failing. When it’s not.

@@conors4430 There are a lot of credit card companies that won't give you one without a credit score, but there are still some that will give one to you with bad or even no credit. You can also be given access as an "authorized signer" to be given a credit card on your parent's account (with their permission obviously), even when you're still a teenager. Yes, a lot of these options aren't as fancy and don't have as many perks. The point is you have to start somewhere and there are options that don't involve crippling debt. But that's the problem with a lot of today's youth - a lack of patience. They don't want to start from the bottom. They want it now. When I got my first job after college, it was a burn-out job that most people only lasted a year or two in. The money was really good, but a lot of people spent like they were going to be earning that amount forever. I bought my parent's old junk car and saved. I can't tell you how many of my colleagues went out right away and bought a fancy new car with a loan they could barely afford to make the payments for. A year or two later, they're out on the job hunt with no income, no savings, and 4-5 years left of car payments they could barely make when they still had a really good paying job. I get that there are outliers - there are people who have really bad luck in life that causes financial strife that was unavoidable, like major medical expenses. But in my experience, the VAST majority of people with financial problems all started from putting things on credit that they couldn't actually afford. People who wanted that giant flatscreen TV right now, or who need to go out and get the fanciest new version of the phone every year on a $100+/month plan when there are phones out there that cost as little as $10/month, or going out to restaurants 9-10 times a month. In the vast majority of cases, it's a lack of accountability for poor planning and lack of patience. Sometimes, you just have to save your money, buy the cheaper phone, cheaper TV, live in the cheaper apartment, and save your money until you can actually afford something better. But no one wants to do that. Why cut back today for a better future when you could have it now? Then - surprise! You're in debt!

@@conors4430That's your problem right there. Using credit to pay for purchases that you already have the cash for is not debt. It just adds an extra step in the process. However, that's what cashback benefits are great for. You pay for everything with credit, which gets paid off entirely every month & you receive a small compensation for being responsible.

George Carlin

No that was me, I said that. I issued a copyright takedown on your comment.

ThatguywiththeAegis You *really* like the Aegis hey? 😉

there are some cases, like the need of a bigger house because of a new family that makes going in debt inevitable.

That sounds like something Dave Ramsey would say

albert fish, I am married and both of us are debt free. Thanks for the concern bro!

That good...praying and have faith ... i will be debt free soon

res bak, congrats and the plan! I hope you pull it off!

Tnx extra session

Extra Sessions Media bullshit internet troll.

imwiththebusiness The funny thing is we used the credit card to fly us here. They’ll never find us 😆😆😆

I actually used to work with a guy who flew over from NZ to avoid paying back his debt. After a few years a debt collector agency found him, but he said he just kept ignoring their letters and eventually they gave up. They weren't about to send someone in person from overseas, and probably didn't want the hassle of hiring someone from an overseas company.

Lmaooooo!!

Glad you let them your location

After 7 years it goes away.

Thanks!

DunklerZebralord I agree! Cracked really exposes the truth about these faceless corporations!

what do you mean by "exposes"?... this is common knowledge... they take information, that you can find with just one google searche and add a few jokes... funny video nonetheless

Scarlet Rain you would be suprised at how many people dont have common knowledge

That's the price of being honest in ruining other peoples lives for profit

automatic payments are a W

Word of Wise: Use Paper Money!

@@LOUNGELIQ Can't get a credit score without using a credit card.

@@LOUNGELIQ paper money is literally wasting your cash, no reason to use it over credit cards / debit with cashback

@@altaccount648 What's wrong with using a cash?

Eddie Tefel 👏👏

Eddie Tefel boo, get off the stage

+Eddie Tefel would have been funnier if you'd spelt *piqued correctly. Maybe.

kourii thanks mate

+Eddie Tefel no prob. Sorry if I came across at all snarky; I was cross about something.

Some guy do wonder what the expectations be like

I had Western Union!

Some guy that's coincidence not irony. Eg. Driver who caused highway pile-up later hit by drunk driver. Coincidence. Woman stabs husband to death with a rifle. Irony.

No... you didn’t

All of the "..if ads were honest" that I've watched seem to have product ads beforehand related to the subject ie BMW ad before 'if car ads were honest'. Probably due to word target advertising. Quite funny really

A person cannot find out their credit score without having and using a credit card .I know because I tried .. I can't find out my credit score( apparently for the rest of my life) due to not ever having had any credit card .I tried a few sources too ..credit karma to name one.. .😟 it's unfair but true.. . something about your statement doesn't add up🤥.. 🙁🤨..

@@jmason2838 I've literally never owned a credit card. Have you taken out any loans? That's how I built my credit is taking out small loans and paying them back. Also what reason do I have to lie about saying hey you don't have to get a credit card? There is no benefit for me what so ever.

​@@jmason2838just an update after a year sorry just decided to click on the video again and saw I commented a year ago on this. So I got a loan and bought my house about a couple months ago and I still haven't owned a credit card. I'm glad I never got one in my life.

The problem is nobody teaches this, and the credit card companies like that.

@@jameshenderson4094 why do you need somebody to teach you that? Dont you have a brain?

@@jameshenderson4094 Spending more than you earn will result in debts... if you repeat this again and again, your debts will gown... any 5th grader should be able to get this it's own.

Better yet, just use a debit card lol

@NoNoNoNii ah so... I take it you don't have one then?

The clothes and products we buy are the results of child slave labor .

I feel this all too well

@Jason Buford the children are working to sustain their life, yes, i got your point, the government should help those slaved childs..

Jesus is the light of the world!

Did you realise that now? Welcome to reality

WHERE IS THAT MAN?? WE NEED HIM!!! Seriously though

That is the whole point obviously..

It's both.

It's "plane", not plain.

@@scottdoesntmatter4409 Online spelling mistake eh? Sounds like the perfect example of something that doesn't matter...

**plane**...☺️..✈️

That's called..... ready to learn a new word??? Satire. Bu Dummmmm

Yeah it’s called reality. Credit cards are a scam

Amen

That is punishment for not playing their game. I may not have much, a may never have anything. But I don't, and won't EVER have a credit card debt.

You can get a mortgage without a credit score

Get a credit card, only use it for groceries and gas, things that are easy to pay off at the end of the month. Get your credit up easily. Shred it and bury it 6 feet in the ground. Boom

The real fist in the ol’ sphincter is that if you apply for one with no credit score and are denied, you now have a bad credit score. And no credit card.

Warribo yeah. Stick to small purchases you can immediately pay off. That way no interest and your credit looks good (at least thats what i was told i dont jave a cresit card yet lol)

Warribo that's if the bank dosnt limite how much money you can retrieve

Warribo Agreed

Warribo careful. You’re talking “common sense”.

Richard Siemion I know... disgusting lol

lol one video will not stop impulsive behavior. you are idealistic....

Financial literacy should be taught in high school. A mandatory course for graduation.

Yeah, drop out and get a job! Doing what, exactly? The only job you'll be remotely qualified for is bagging groceries at a supermarket. I mean, sure, I guess you could try and learn a trade. Btu there are only so many trades and not everyone's cut out for manual labor. Not everyone wants to do manual labor. Good luck getting a non-manual labor job without a college diploma, let alone high school. College is not for everyone, I will give you that. But you should absolutely finish high school, or at least get a GED. That way, if you ever do decide to go to college, you have that option, and potential employers won't think you're a fucking failure who couldn't even put in the minimal effort required to finish high school.

This is the exact type of brainwashing I HATE. Its all bullshit. You do not need a degree to have a net worth in life. I understand college benefits some, some require it. Thats fine. But hearing go to college, or your a worthless piece of shit? You can just go fuck off. I got that basically in high school and had the college fair etc for better opportunities like I was supposed to just be a cog.. Here is the fact for me. I have an associates in building websites "web technologies". Want to know something? The government funded the degree. 2. I have never used or got a job FROM that degree. In fact I learned nothing important from the classes. I admit I know I am a bit of a "gifted" person in that I am naturally technically inclined, and I self-taught myself, but regardless that can apply to anyone who puts in the effort. Oh and right now, I am making about 81 an hour as a freelance engineer with no formal education that taught me that skill and have plans to start some other ventures. I did start out at shit money, but I went up in ranks with showing experience and past work. The world isn't just you working and being a cog in a corporate machine, but also you being the machine!

Logo Lee I strongly agree. ^.^ Funny and educational, rare combo.

Lol

When he said "pretty crimey", I lost it! 😂😂

NOO NOPE It's ridiculous that you're in the minority.

Noo Nope, well said and well done. Me the same but only had a credit card when I was in late twenties and used extensively recently. Just pay on time and all will be well. If cannot pay on time, don't use credit card. Must really budget and not be tempted to get the latest Hi-Fi and smartphone etc

I always check my bank account balance before I use my credit card.

Hear hear!

I'M IN DEBT UP TO MY EYEBALLS

That would be me too, except I ended up with a girlfriend. She had no patience when it came to finances. When she "needed" a car, it had to be "right now" and she would come up with all sorts of ways to "rake up the money" no matter what the interest charges following that would be. Fast loan companies were usually her preference(with interest rates of about 200%). And there was no way to get ahead this way. Credit cards, have a much lower rate, and minimum payments(over an even longer period) and even if you pay more in the end, at least it was manageable on our low income. Finally I'm managing to get the credit card balances coming down, but it is slow progress. One card finally paid off, 4 more to go.

lochinvar00465 - Wow! That really sucks. I would have sat her down and explained the ways of the world to her, and set some 'boundaries' when it comes to finance. Hopefully, if she homed in on those 'easy fast credit' places, she didn't talk you in to putting it in your name.

For some bizarre reason, in today's society... I somehow managed to be one of the 'few', that yes, is dept free. Tho, I don't own a home, and don't foresee trying to buy one in my lifetime, due to disability killing my work options. So on the flip side, if I for some reason ever need credit, I'm kinda screwed. Funny how the banks will issue credit cards to teen agers with minimal work experience, but they won't issue credit to an older person, with a lifetime of solid, high paying work history. Odd, huh?

@@LizFromDecencyUnited there are other ways to build credit too, do some reading as it would take me too long to break down in a youtube comment. Credit cards are the easiest way, but by no means the best or even the fastest. Paying rent, car notes, mortgage all affect your credit score and when you pay it off, you actually have something useful in your posession that can be used to make even more money. Pay off a credit card and you still have nothing

ryan burke - Thank you for the kind thought and info. I know of most of the decent ways to build credit, without a credit card. I've bought a couple of used cars from a friends lot, and have a great rental history, as well as mortgage (on an owner carried contract, but had to default due to divorce, no penalty) It's been a couple decades since I did the cars and house, but, at this point in life, I don't think I'll be in a position to be applying for credit or needing it for anything critical. Disabled due to an uninsured drunk driver, had to drain my savings and retirement, and now looking at SSI... it sucks. Went from not needing credit, because my job paid decent, to....... this. Alas. But, thank you again, that was thoughtful of you.

that's what there betting on because that's how most folks are...

@@ronnie8317 it's almost like high schools should touch on this in a required class throughout the nation

@@isaakharms2656 yeah they should but the rate there cutting out life classes in high school home economics, music seems like they want to wack PE too. Rich Dad Poor Dad writer get furious how we are only taught how to count money and that's it

Isaak Harms in Australian schools, they teach how to pay taxes, why never to get credit cards, how to buy houses, basically al that practical shit.

I've been saying for awhile now, that people enslave themselves.

Its like your grandmother telling a killer how to kill you.

TheTallMan35 That's pretty bad.

ooh my!!! you are doomed, how hard is it for people to have 0 credit ??? it never hurts not to borrow.

Life Saver L.S I think credit cards are the single greatest scam of a lifetime, across multiple generations.

pretty hard, considering if you have 0 credit, most places won't let you take out loans, won't let you buy a house, won't let you buy or lease a car, etc, not to mention if you have 0 credit, your insurance rates are insanely high. As an example, before I had any credit, tried to get insurance on a 2005 Buick Lesabre, plenty of safety features, a clean driving record, and other things that would bring rates down, but with no credit, the lowest monthly payment I could find, was about 500 a month, for a 10 year old car. After I got credit, I was finding rates as low as 230 a month, which isnt too bad! (For full coverage)

In general, use it on small things such as gas and groceries so you can rack up easy credit score.

@@arxci9402 no I use it on everything so I can get as many Cash back rewards as possible

a real shame. am hunting for something equivalent and there really isnt anything quite like this.Come back Roger!

I know the feeling. My in-laws keep telling us to go to the dealership and save up for a down payment. They are all living paycheck to paycheck, and I have 2 cheap vehicles that I bought with cash and can get a few more years out of.

I don't think that's the burn you think it is unless you have more context. I'm not defending the credit system, but you can use the cards responsibly with not issues. Use it like a debit card and pay it back every month.

​@@TheModeler99I'm French and, for me, what you've just said is evident.. Like most of French I think.. Impressive how cultures can be different.. It is not a judgment or something though

⁠​⁠ in 10 years I haven’t paid a single penny in interest and every year my cashback is about $1600

Roger is right though that you need a credit card to establish credit....good luck getting a house or apartment without a credit history. Credit cards are great for people who aren't stupid

😂😂😂 i hope you are playing

I was debit free but then i got sued by that state for not reporting taxes on a failed business that never got off theground or made a dime

yup! debt is slavery

Actually, you're ALWAYS in debt. Electric, water, taxes, insurance, food, gas, clothes.... not to mention medical bills. And that's for a single person. If you have any children, the list is exponential. Being "debt free" is a convenient lie to tell yourself. You never actually are.

@Saint Frank L. Entitled?! Where the hell do you get that from? I just stated facts that's all. There's no such thing as debt free. Ever. Period. And hold my hand?! Please son. If you only knew..

Trent Pattillo if I have to pay every single month my credit. I tell you straight aware that, unless you don't hide that fact in front of me, you can be robocop of selling credit cards you will never get me, just because is it not convenient. I don't have time to meditate and sleep properly and will spend it where I don't have to. Noooooooooo

Trent Pattillo I agree with everything you said except for one tiny detail. People who follow the behavior in your second paragraph don't use credit cards because they "need" them; it's part of their daily life. Otherwise, yeah, I agree with everything you said

I use the credit card as a debit card because of cash back reward. Also, if there is a fraud, it will not immediately affect my checking account because I have a separate account ( credit card account). I can then call the bank and have them to fix it. For instance, if there is an unauthorized charge of $800 appears in my card and if that's a debit card, it will take me a week to get cash back or 2 weeks to get a refund if an investigation is required. During that 2 weeks, if I need to pay bills, this can affect me and my quality of life. Credit card won't have such issue. Of coz, I can do the same thing without a credit card by opening a 2nd checking account and use the associated debit card of the 2nd account. I can store money in that 2nd checking account from my main checking account to "charge up" the debit card. It's like a pre-paid cash-card. But again, there is no cash reward and how on earth I am going to build up credit score? I really do not like using credit card in the first place but is there a way not to live with but still able to have credit score built?

that's what i do. i pay it in full every month religiously. no issues whatsoever. never been in debt in my life.

Than how do you build credit.