Why You Should Buy Everything With Credit Cards

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Having multiple credit cards and playing the rewards game can save you hundreds of dollars each year. It can land you some substantial sign-up bonuses like the Capital One Venture Rewards credit card’s 75,000 miles or Chase Ink Business Unlimited’s $900 cash back. Americans own four cards on average but not being able to pay off the balance in full every month can be damaging to your credit score and wallet. American credit card balances reached $986 billion in the last quarter of 2022, according to the Federal Reserve Bank of New York. Those contributing to that debt should not be using credit cards because the interest rates they’re paying outweigh the card rewards. However those who use credit cards responsibly and don’t have balances, typically save $300 to $400 each year. How much money you save using credit cards depends on your lifestyle and how you play the game.
Chapters:
0:00 - Introduction
0:55 - How credit cards work
04:01 - Rewards
07:51 - Using responsibly
Produced by: Emily Lorsch
Edited by: Jacob Harrell
Senior Managing Producer: Tala Hadavi
Graphics by: Jason Reginato; Alex Wood; Christina Locopo
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Why You Should Buy Everything With Credit Cards

Опубликовано:

19 май 2024

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Комментарии : 2,9 тыс.

@kyleefaren3075 Год назад

I only use credit cards. But I treat them like debit cards so I don't spend money I don't have. Also use them to build credit.

@kazi1 Год назад

Same

@zeezao8196 Год назад

But you have to pay % more. What the point. Debit cards dont have cashback? Im curious cause Im not american.

@ChrisakaPES Год назад

@@zeezao8196 Most Big Bank debit cards do not get these rewards due to some legislation that was passed at some point. If they’re there they are not as good. Also, at most businesses we frequent the price is the same for everyone, with even Cash customers paying the product price that includes the Credit card swipe fees. As others have mentioned debit cards don’t help you build your credit history(excluding some newer fintechs).

@JohnSkyLey Год назад

@@zeezao8196 If you pay your card in full every month, then you don't pay more or any interest.

@aritragupta4182 Год назад

@@zeezao8196 The more important bit is the credit profile part. You can't build a credit profile using debit cards.

@livi_bridge Год назад

For me, growing up Mexican American I was taught to pay in full and not owe people money. Which I definitely think helped me in the long run because it helped me better manage my spending and not try to live beyond my means.

@goodmeasure777 Год назад

@Livi Bridge, This is about using credit cards, and yes, paying off in 30 days. Airline tickets, hotel stays, car rentals, or anything you plan on paying off in 30 days.

@PoliticalMatter Год назад

They are just asking people to spend more to boost the economy.

@jexter22 Год назад

Correct 🎉😊

@davida8407 Год назад

@Memory false. If it's paid off by the due date, there is no interest. This is can be more than 30 days after purchases, depending on the billing cycle.

@robertagren9360 Год назад

Sponsored by Visa, Mastercard and Bank of America.

@antoniowood8119 Год назад

I’m addicted to paying off my credit card 😂 I constantly check how much I owe and I want to pay off everything instantly

@kevinfernandez9999 Год назад

Wow, you want to pay off mine aswell?

@mpirokajosephmgcokoca2355 Год назад

Good my son! Keep it up 👍

@thezfamily989 Год назад

Dave ramsey will tell you different lol

@Jeana4life Год назад

same. I literally pay my cards off every 2-3 days lol. Never have accrued interest for this reason.

@kerrydaniels8460 Год назад

@Jeana Crandall Do what works for you, but I just use autopay. I don't have to sit there and stress every couple of days. I did thst when I first got a cc, but quickly realized it's more practical to just pay in full with autopay instead.

@SamBass Год назад

This video is brought to you by Visa, MasterCard, Discover, and American Express 😂

@jtgd Год назад

“Brought to you by VISA”

@Thingsyourollup 3 месяца назад

By way of Mastercard.

@mgreen9092 10 дней назад

@jtgd but they arent wrong. Once you realize the benefits of using credit you’ll never want to use cash again.

@timelessmusicfamilymusic9175 Год назад

1. Pay your regular on-going bills like phone, internet, utilities, insurance etc. with a credit card on Auto. 2. Pay the full amount, never pay interest. 3. May sure it doesn't charge an annual monthly fee. 4. Chose a credit card with reward points only. This way the credit card 💳 is paying you to use it instead of the other way around.

@paengguin9381 Год назад

I agree 100%!

@Towelie- Год назад

If you already spending a certain amount getting a higher rate cashback that has a yearly fee might be worth it as the increase in rewards will cover the fee .

@mikezerker6925 Год назад

I also keep a low credit limit on my card so I don’t overspend

@bluejedi723 Год назад

I get cash back on one of my credit cards. I pay all my bills on that one credit card. Do I have the cash to pay them instead of my credit card? yes. But I use this one credit card because I get a great deal on cash back. Then, as soon as the charges go through, I pay the card off. Easy way to get about $50 a month cash back I transfer to savings/vacation fund

@SmithCommaBenjamin Год назад

This stupid "logic" is why there's over a $trillion in credit card debt. The stupid rewards cards offer are minuscule compared to what you have to pay to obtain them. You really want that reward? Skip out on buying a purchase. Most rewards average to 1% of usage needed. So, to earn $1000, you need to spend $100,000... it's easier(and much faster) just to budget your spending to save an extra $1000/yr

@KingDavid-jj7tk Год назад

America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun...

@ConradGosling Год назад

@Alexander Webber The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment..

@Emily-le2op Год назад

@@ConradGosling Hi Mate, please how can i reach this CFA of yours?

@ConradGosling Год назад

@@Emily-le2op I personally work with ''STACIE KRISTAL WEBER'' she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her...

@Emily-le2op Год назад

@@ConradGosling She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

@lngtimesurfer Год назад

@Alexander Webber ah yes, it's as usual the younger generation's fault, and not the Boomer's who got us here with years of electing corrupt politicians and deregulation.... But as usual with the boomers it's "F everyone else, I got mine"

@MPAzezal Год назад

Just use it as a debit card. Don't spend money you don't already have. Don't spend more than you get in a paycheck. The cashback or rewards can be really nice and are a little discount to things. Definitely do not carry a balance month to month because that's when the interest will start accumulating

@AlanTheBeast100 Год назад

Nope. Higher security risk with direct access to your funds. You are the perfect victim profile of ATM scams and in-store scams. CC has near 0 risk to you. I've been defrauded on my CC twice over the last 40 years - didn't cost me a penny and it was resolved very quickly. Pro tip: adults can charge what they can pay. You get a 30 - 50 day 0 interest loan if you pay your card in full every month. Plus (in most cases) various bonus points/rewards, etc.

@MPAzezal Год назад

@@AlanTheBeast100 are you replying to me or meant to reply to someone else?

@AlanTheBeast100 Год назад

@@MPAzezal You and everyone else. Avoid using your debit card. That is the greater security risk.

@MPAzezal Год назад

@@AlanTheBeast100 Yes, that's the gist of my comment. Though you added to it by describing why credit cards are more secure than a debit card

@angel-ij4xv Год назад

this is why i stay away from credit cards i only use a prepaid debit card only

@Jasongy827 Год назад

I learned that a long time ago when I was 24 my credit score has been really high, I always say this, if you can’t pay for it in cash don’t use it on credit card

@sinan_3384 Год назад

Simplest rule of thumb to live by. Just treat the credit card as if it was your debit card. You wouldn’t spend more than what’s in your bank account on your debit card so don’t spend over what’s in your bank account with your credit card

@djhero0071 Год назад

There's also not using more than a third of your credit limit at a time.

@MakeItMakeSense285 Год назад

Use the 5-1 method to see what you can afford. Basically if you can’t buy 5 of something using cash then you can’t afford it.

@Education-Edge Год назад

True true! 🙃

@sinan_3384 Год назад

@@djhero0071 even when I do this for large purchases aka a vacation or something I pay the balance off immediately after it’s posted. Doesn’t even give it a chance to hit my credit report

@cancelled_user Год назад

Keep in mind that cashback or other rewards encourage you to spend more, so you might actually overspend, buy stuff you otherwise wouldn't, etc.

@howard6433 Год назад

If these "rewards" result in your overspending, you have more fundamental problems in life.

@mccalejk2 Год назад

They don't encourage you unless you're financially inept to begin with. Honestly, it's just commonsense. I don't spend more due to perks, I use my debit and cash a lot less. Simply use your credit card and pay off the balance every month. No interest, no debt but you get the perks.

@boknow5506 Год назад

Actually credit is only as good as you use it or pay and yes I've had to buy more to get more or better credit so not using it is not good

@Demopans5990 Год назад

Also, merchants will tack on a processing fee if you do use a credit card thanks to all the cash back programs

@darkestDame Год назад

@@howard6433 They obviously do across the globe which is why it's a feature in the first place. So I guess 99% of people have problems.

@Arienrhod 5 месяцев назад

I buy everything with credit cards. Extended warranties, added protections, limited liability, and cash back. I pay the cards off in full every month. This year I got just shy of $3,000 in cash back rewards.

@TrigoNomentry Месяц назад

Whats your cashback %? Even at 3% you spent a fuckle ton.

@xKindle 3 месяца назад

only have one credit card and I use it once a week. Reject consumerism, embrace frugality and minimalism

@surrcram Месяц назад

What do you use it on

@kerrydaniels8460 День назад

You seem to falsely think you can't be frugal or minimalistic with a credit card. They aren't mutual y exclusive.

@RomeReactions Год назад

As long as you’re paying it off before interest hits it can be worth it for the points and rewards. However, you do tend to spend more overall when using a credit card so it could balance out. Ultimately, i use my credit card mainly because i dont want my debit card getting hacked lol.

@saulgoodman2018 Год назад

There is no proof that you spend more with using a credit. All of those "studies", were just looking at how much people spend with a credit card, and how much they spent with cash. They were not looking at people's budget and how much they were going to spend before they used it.

@andidede3653 Год назад

@Saul Goodman i think Dave Ramsey wins this argument pal.

@ZayTson Год назад

Same, they're basically free purchase/theft protection if you can control your spending habits. The points & rewards is just icing on the cake!🤤

@JohnSkyLey Год назад

@@andidede3653 Dave Ramsey is a joke

@asoka7752 Год назад

You can get two debit cards.

@Tsukei Год назад

Credit Cards are great but not for everyone. If you don't have the self control to spend within your means and pay it off every month, then obviously this will just feed consumerism. Otherwise, it's free money/benefits for those who are responsible. Not to mention they're safer to carry around than a debit card/cash. You'll have a much tougher time getting your money back there than if a CC is lost/stolen.

@traviskitteh Год назад

I mean, the premise of the credit card is to "feed consumerism." Credit cards, by their very nature, are designed to speed up the purchasing process by removing physical and mental barriers of purchase between a customer and a given product, which is part of what makes them so dangerous. The credit card is as much a tool of the capitalist machine as it is a tool of the consumer.

@georgepresley5120 Год назад

how are they safer than a debit card?

@superazn264 Год назад

@@georgepresley5120 0$ fraud liability, you can dispute transactions as well

@zullyholly Год назад

@@georgepresley5120 debit card: the payment uses cash from your own bank account. credit card: the payment is a payable to your bank, but you're not obliged to pay it yet until you get your credit card bill for that month. so you have extra time to dispute, make a police report etc. not to mention some cards offer fraudulent transaction insurance for free

@andidede3653 Год назад

Over 80% of people do not pay off their credit cards at the end of the month. Interest would eat away at any rewards they are trying to earn and will continue to carry a balance for a long time. People are impulsive buyers and will always spend more when it's not their money. There is an emotional connection when you pay for things with your own money and will spend less when compared to a credit card. It's so common that people don't think of it much and then end up years and years in debt

@rmfinance1781 Год назад

Dave Ramsey nearly had a stroke watching this. 😂

@JoseFlores-xh5cj 11 месяцев назад

I pay my credit cards every week. Feeling the pain of money leaving my wallet helps me not go on a unnecessary shopping spree and gets me focused that food and bills come first before weekend fun nights.

@angelachanellehuang5663 8 месяцев назад

Where is everyone's money?

@mercedeswilkins5566 6 месяцев назад

Yes

@jaredgates4310 3 месяца назад

I do the same thing. Nothing is sadder than transferring money out of your checking to pay off those credit card purchases. Definitely reminds you to keep your spending in check.

@mercedeswilkins5566 3 месяца назад

@@jaredgates4310 yes and it help to learn lesson on spending freely

@ninjanerdstudent6937 Год назад

Financial literacy, health literacy, and computer literacy are all imperative topics that everybody must learn. Financial literacy is finally cracking into public school systems but barely.

@DustyDustGaming Год назад

Wdym health literacy? I can see this meaning many things

@SweBeach2023 Год назад

Teaching financial literacy doesn't work. Juggling a budget is very easy from an intellectual point of view. It's literary the kind of math we learn in third grade. Sticking to a budget on the other hand is very different and we all need to find our own way.

@junelawson6708 Год назад

This isn't financial literacy; It doesn't actually teach you how the financial system works. It's just about how to use financial products.

@Thingsyourollup 3 месяца назад

My high school spent a whole quarter teaching us how to balance a check book. Whole lot of good that did, turns out I never ordered a single book of checks in my entire life and a computer tracks all the numbers for me.

@austinduke8876 Год назад

Telling Americans they should buy everything with credit cards is about on par with telling an alcoholic they should have a glass of red wine a day. These people have no self control, don't encourage them.

@Bluesmiley05 Год назад

This is exactly why they are encouraging. Now instead of printing money to "stimulate demand" they are trying sth different.

@musiqueacoustique1 Год назад

Makes you wonder who's pushing or paying for this content.

@docsays Год назад

- ok lets not generalize with blanket statements. Yes some americans have no self control, but I suspect there are lots of financially responsible americans who use them for their benefits, cashback & travel rewards. Just sayin

@hermanwooster8944 Год назад

@@docsays I agree with the sentiment, but for those who are struggling with fiscal responsibility, this message is harmful. There are ways to get across the potential benefits of credit cards while cautioning that it's not for everyone.

@wizardofahhhhhhz Год назад

Credit card debt is at a record high and this is the advice they’re handing out. These folks have NO self control lol

@user-ny5xe2hx7t 5 месяцев назад

Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them

@DeborahPearson-ng2cs 5 месяцев назад

The thought of retirement has given me the opportunity to sort out another source of earning

@JacolienVos 5 месяцев назад

I started paying more attention to stock and learning more about online trades

@SandraPatterson-di6xh 5 месяцев назад

Trading became interesting when I met Shanita online and she gradually exposed me to the whole trade market and how to earn massively from it

@AlmedaKandemir 5 месяцев назад

Meeting with someone genuinely good at the financial market was a break through for me

@JewellOguin 5 месяцев назад

I was introduced to forex with the guidance of Mrs Creswell and there isn’t a single trade I have loosed

@zacharyurda8197 6 месяцев назад

I cut up my credit cards a year ago. Being debt free is a much less stressful way to live!

@Johnrl21 Год назад

Shocked they did not include in this piece that merchants get charged on each transaction for allowing credit card use and subsequently bake that charge into their retail prices that we all pay. Therefore, folks that pay cash actually subsidize those that use credit cards. This is a big factor that should have been included.

@kimberlychodur3508 Год назад

Where I live in Iowa, it’s cheaper to pay cash especially at restaurants, because they charge a 3 to 4% charge if you pay with a credit card.

@luckofhan Год назад

Cash is still king at your small family owned business

@jakebrown6305 Год назад

I was just telling myself the same thing

@edwink1467 Год назад

@@kimberlychodur3508 It’s against the terms of credit card issuers for businesses to explicitly charge consumers a fee for using credit cards instead of cash. And tbh, it’s kinda silly to do so nowadays unless they are trying to commit tax fraud by underreporting revenue. Accepting cash has a price too. Buying and maintaining the cash register cost money. Spending labor and time to count the cash at the end of the day cost money. Transporting and depositing cash at the bank cost time and money. Having a large amount of cash also increases the likelihood of accidentally accepting counterfeit money, being stolen/mishandled by employees, or robbed by thieves. So yes, you can avoid a 3% credit card processing fee, but it’s not like accepting cash doesn’t come with its costs and risks.

@captainvenom4377 Год назад

most businesses are starting to charge the consumer 3% or 50 cents per credit card transaction.

@TimothyZhu Год назад

I always pay off the monthly balance in full, so I've never had to pay interest. This is the best way to use credit cards.

@jessicamamikina7648 Год назад

The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "KATRINA VANRENSUM ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.

@dorissteve912 Год назад

That's right, getting in touch with a consultant during the pandemic was how I was able to scale through the crazy stock downtrend.

@jamesmaduabuchi6100 Год назад

That's massive. Can you please connect me with your personal broker, I would love to work with her

@jessicamamikina7648 Год назад

Like I said earlier , her name is KATRINA VANRENSUM

@jessicamamikina7648 Год назад

Just run a search on her name, and you would see all you need.

@jamesmaduabuchi6100 Год назад

Thanks for the info . Found her website and it really impressive

@nutribunchannel7845 Год назад

That card really changed my life and I was able to reach my goals, it’s indeed empowering, provided you use it responsibly…

@ARS757 Год назад

Dave Ramsey is going to loose his mind when hears this.

@emmanuelmatos9925 Год назад

Yup but I kind of support him

@ChristFan868 Год назад

This is the comment I came here for...

@Lazirus951 Год назад

Credit Cards are a financial tool to get ahead as long as you are paying them off in full every month. You can easily get hundreds of dollars in cashback each year and good credit will make your vehicle insurance cost less too because your credit score is factored into the price they charge. If you don't engage with the credit system in America, you're either extremely wealthy or you're leaving money on the table without realizing it.

@GerzhusTV Год назад

David ramsay’s advice is good for “beginners” to debt and finance. Once you understand the rules of the game, completely avoiding the credit system is opportunity cost.

@leonrobinson8180 Год назад

@@GerzhusTV Exactly. Dave is for the middle class. You won't get rich using his advice.

@shinlanten Год назад

I use CCs everyday but payoff the balance when statement comes due, that's very important. Be financially disciplined with their use 👍

@RealityHurts923 Год назад

I pay every week forget once a month. 820 score

@shinlanten Год назад

@@RealityHurts923 Same score, what ever payment frequency works best for you, do it 👍

@WorldWide2017 Год назад

@@RealityHurts923 Impressive 👍🏽

@manny7886 Год назад

@@RealityHurts923 - Same here. I make sure my balance statement is $0 every month.

@michaelreid8857 Год назад

Trick is to pay 95-98% of amount owed about 5-6 days before the statement is printed. (not the due date). Issuers report on the statement to the bureaus. Lower the utilization the higher your FICO Score

@jaredgates4310 4 месяца назад

Got $2300 cash back this year and paid it off religiously. I have one credit card and use it for everything.

@djm2189 Год назад

I'm 28, and earn $112k+. I was forced to get one when I couldn't rent a car even though I had 60k cash... I grew up poor and didn't know. I only used debit cards. Got the chase Sapphire Preferred a year ago and use it like a debit card. Actually pay it off weekly. I've earned $1.3k so far in rewards. Not bad. Really love the extended warranty and travel perks. Doubt I'll get another card cuz I'm simple and only want one.

@jamesleason4004 Год назад

yeah chase is the best! If I could only pick one it would be the Sapphire. I prefer to roll with AMEX gold plus sapphire(no fee) for places that don't take AMEX.

@roxcyn Год назад

That’s great. What do you do for a living?

@djm2189 Год назад

@@roxcyn I'm a business analyst consultant for pharmaceuticals. Was in normal tech industry and jumped to pharma. Computer science degree can easily be transferred to so many industries!

@OutdoorsSky1 3 месяца назад

A lot of people don't realize the car rental companies or some hotels only take credit card payments. Good to learn in school before you go off to University or a real world job.

@Gandhilgvg Год назад

I use it just like my bank. Pay it back same day and never over spend!

@kitsiewr Год назад

Credit cards, used wisely, and paid off monthly, are valuable tools. But we need to keep cash options too!!!

@squirrelcovers6340 11 месяцев назад

Exactly

@angelachanellehuang5663 8 месяцев назад

Credit cards are a trap

@halfsourlizard9319 7 месяцев назад

Cash: Why? I don't know anyone who still uses cash and is under 50.

@GBU61 3 месяца назад

If you mean have cash available in savings, absolutely.

@kitsiewr 3 месяца назад

@@GBU61 I mean also cash as an option to use in everyday life - this is a freedom and privacy we need to protect!

@BobSure_AKA_PotatoSmasher 3 месяца назад

This smells like sponsored content. Weve been conditioned to accept credit cards as a necessity. You really can live wothout CCs.

@ryansubera7171 Год назад

Thank you CNBC, I actually did not know that I had rewards until I saw your video today and looked into it. Very helpful.

@javierduran1390 Год назад

I like to take advantage of the cash back on my credit cards but I don't let debt accumulate I pay my balance at the end of the month

@993mike Год назад

I'm totally with you on that. I use my card for everything I can and pay it off every month and get a high cash back % through my Fidelity Investments Visa. I'm retired now, but when I owned my store, I'd use my business card to pay all my vendors that would accept credit cards for monthly statements. Man, I'd rack up enough points to pay for my son's private grade school & high school tuition every year, all tax free.

@8ofwands300 Год назад

Me too.

@Sulfen Год назад

Same except I pay off the balance once a week just to make sure I’m balancing my budget.

@cancelled_user Год назад

Isn't "stoozing" a thing in the US?

@Education-Edge Год назад

We wish everyone thinks like you do! 😊

@ShidaiTaino Год назад

This video was sponsored by Discover and AMEX. You shall continue to consume.

@jessereinhardt6320 Год назад

Really makes me wonder how much MORE people are unconsciously spending by using credit and thinking cash back rewards will make them rich.

@ryderwashington4199 Год назад

@@jessereinhardt6320 What I'm saying... if you HAVE to buy something, use a credit card. But don't just buy stuff to get rewards, that's literally what fuels consumerism.

@pkal244 Год назад

@@jessereinhardt6320EXACTLY. The subconscious idea that people are getting rewarded for spending more actually makes them spend more in the end versus actually seeing the money drain from their checking account in real time by using a debit card every time they purchase something. It's a big mental shift that people think they're above, but most have trouble admitting that they are actually not.

@ryderwashington4199 Год назад

@@amandak.4246 ... for once you need to reevaluate yourself, bro's right. Forget that he's talking about the credit card companies, listen to what he said. All these rewards do is promote consumerism, you don't need to spend for the sake of spending to get these really small rewards.

@SC-jf2dz 8 месяцев назад

"Buy everything with credit cards" Says video sponsored in part by credit cards

@wenlansima537 6 месяцев назад

I have a credit card since 2015 when I was a student. I'm never late on payments and almost always pay in full. Until now, I have gained thousands of dollars of rewards(without including the bonus for opening a card) with almost zero interest payments. The cards definitely work for me.

@cardinalsfan9610 Год назад

Whether you have one or several credit cards, use them wisely and spend within your means. That said, I hope we're not heading towards a cashless future. That will be dangerous for many, and only widen the gap between the haves and have-nots. And with the tech issues that are becoming the norm (on top of governments tracking more of what citizens do), cash is something that should not go the way of the dodo.

@mankind8088 Год назад

And that's why I've never had and will never get any. NEVER had a car payment in my life. I have titles for 4 cars that I purchased with cash. Two of them are classics. I also, with cash purchased 2🏍️from copart. I have a 3🛏️ 2🛁home sitting on 3 acres. I have a logistics company with two commercial trucks running 5 days a week. I even day and swing trade to supplement my income for weeks when it's🐂💩on the load boards. Plus my wife retired at 45. How you ask. I NEVER OWNED A CREDIT CARD. I WORKED FULL TIME FOR 10 YEARS SAVED THOUSANDS, SACRIFICED SAVED AND INVESTED. The end result, I've never let💰or💩run and control me, I CONTROLLED IT, I MADE IT WORK FOR ME, I WENT WITHOUT TO GET WHAT I NEEDED SO I CAN OWN WHAT I WANT. From 17 to 25 all I saw was peers living on credit and drowning in debt for🐂💩fads, trends and finite🗑️ that never gain any value, and constantly lost value by 25%-50% as soon as they touched it. That math NEVER made any sense to me, so I NEVER prescribed to it. I'm glad my portfolio consist of purchases that have value and are assets. If I sold my business, my classic cars, my stocks, my home, motorcycles and watch collection(forgot to mention that)......the profit alone would be more than most in scamerica make in a 6 year combined salary. The🔑that I've worshipped my entire life is SACRIFICE, SAVE, INVEST,🖕LIVING ON CREDIT AND DROWNING IN DEBT.

@rick6582CNCMedicalParts Год назад

"Cash "is gold ..forget the cards all B.S .

@edwink1467 Год назад

Those who can’t control themselves can use debit cards instead of credit cards. Cash is obsolete.

@albear972 Год назад

You said it! Spend within your means. Nice to see another common sense person.

@rick6582CNCMedicalParts Год назад

@@DrugDealer541 Never use cards only cash $ one debit card .,& buy car with cash .."broke people use cards"

@SouvikDas123 Год назад

I spend almost 90% through credit cards now primarily to track expenses and secondary purpose is cashbacks

@cherb23 Год назад

Thanks for educating me on credit cards! I have been getting 1% cash back on all other purchases for years and I really want to upgrade to 2% or more now.

@derekspence7241 9 месяцев назад

I pay my 3 CC’s in full every month. I use the CC to pay cell/WIFI/TV bills/subscriptions. Other 2 CC’s for groceries. Pay my rent and power bill out of the bank. No car so no car payment/repairs/gas/maintenance/insurance. Lots of cash in the bank and credit score 825

@ES-qu1jd Месяц назад

Awesome credit score!!! 🎉 Good job!

@lulilulu8172 Год назад

What I did before I got a credit card was to have a debit card for 2 years. I tracked my expenses, budget, and used that as a standard for my credit card.

@excusemehello5904 Год назад

It took me years to become a responsible credit card user!

@ciannacoleman5125 Год назад

What they didn't mention about CC ratio is that it only applies at the cycle close. However many cards you have pay them off before the billing cycle closes. My aunt waits for the paper statement to come in & was surprised I just go in every few weeks (especially right before the close) and pay off the balance so however much I spent in reality it didn't effect my ratio.

@NazriB 5 месяцев назад

Lies again? Change Cars Chubby Children

@andreas3858a 3 месяца назад

It seems a lot of people are using credit card wrong. They think using credit card always cause you to get debt. That's not the case if you measure it properly. Treat the credit card just like a way to pay. Align your payment with your cash. You use credit card to get rewards and most importantly to build credit card, not to have loan or debt.

@youtubesucks8024 Год назад

The corporate media would put out a video called “use credit cards for everything” the day after a bank implodes lol

@monkeybusiness2204 Год назад

The problem with credit card is that most people has no self control. They tend to spend more than they earn and things get out of hand very fast.

@TacoTuesday4 Год назад

If you have a budget and stick to it then using a card isn't an issue. You can always pay for it. Having a budget is really the most important thing many people don't do. This will allow you to do so much more with your money because you are less likely to make impulse purchases that you later regret.

@RTDoh5 11 месяцев назад

It should be noted that CNBC along with other major news outlets get a portion of their revenue from advertisements for credit cards. They have a personal interest in promoting them.

@halfsourlizard9319 7 месяцев назад

Not personal, business: They have a business interest in promoting them.

@dennisc4563 Год назад

I live in NYC, I noticed a lot of stores are throwing the merchant fee onto the customers when they use thier cards. So now and days I don't know if using cards are worth it. Leta say they charge you 3% to use a card at the store and u get 2% cash back on all purchases. Well your still losing that 1%. So you have to be more cautious and start carrying cash money lol

@Bamapride1985 Год назад

I noticed this when went to get food at krystals during the lockdown. They weren't giving change if used cash and also wanted to charge a fee for using a card. Never been back since

@raylopez99 Год назад

Only in NYC in a bodega. Never seen this in the USA outside of NYC and the only other place I've seen this is overseas, in typically developing countries.

@kimberlychodur3508 Год назад

@@raylopez99it’s not just New York, I’ve seen it in my own town in Iowa, I live in a town of only 3,600 too. That’s why I question if the rewards are really worth it.

@captainvenom4377 Год назад

@@kimberlychodur3508 well if you see a CC that gives you 5% back and you get charged 3% then ur still up 2% and if your using something like a amex gold sometimes eating that 3% to get those MR points is worth esp if your working towards a sign up bonus

@kimberlychodur3508 Год назад

@@captainvenom4377 my kids do for everything with a credit card for the rewards, then pay it off every month. I guess they think it’s worth it, I haven’t ever really gotten into it yet, I would have to look into it.

@RADIUMGLASS Год назад

The problem is that most people don't know how to treat them like debit cards.

@maggie0285 9 месяцев назад

I have capital one quicksilver. I use it for my daily expenses and immediately pay the balance the second it shows up. It's cash back. It's silly not to use it.

@iTzDritte Год назад

I have 26 credit cards are have never paid a cent in interest. I LOVE credit cards 🎉 They’ve gotten my family multiple free luxury vacations around the world.

@mytravls Год назад

How many rewards do you get? What’s that card? I barely earn anything with wells

@SpaceRanger187 Год назад

Same.all these comments from people that have no idea wtf they are talking about.. People think that because it says credit in the name means u have to max it out..How about grow up and have some self control and make your life better all by using a credit card..then again you can't argue with people who think they know everything and have done no research

@mad2barxhst Год назад

Do you get taxed for any of the luxury vacations you get?

@mytravls Год назад

@@mad2barxhst get taxed on the income that has already been taxes?

@ChrisakaPES Год назад

@@mad2barxhst no the points you get are considered a form of rebate so it’s not new income. It’s money back from a purchase you likely already paid Sales tax on (if in a state with Sales tax)

@smc1377 Год назад

The last car I purchased from a dealer, when it was time to pay the $5k down payment, they asked if I wanted to pay in cash, check or credit card. And I was like, you take credit cards for a down payment? Is there an extra fee? Nope. Even though I had cash in hand, I put the down payment on a card of mine that had 2% cash back, then I paid my card immediately so it doesn't even show up on a statement. That was a free $100 cash back in my pocket for using a credit card as a middle man.

@manujohn99 Год назад

So you mean you only paid back $4900 back to credit card company or you paid the whole $5000 & they gave you the $100 seperately for you to spend it????

@KCNYC Год назад

Jokes on you, you should have negotiated a 6% cash discount. I’m quite sure they would have honored it.

@dannydaw59 Год назад

That's what I do when buying a car. Put as much on the card as the stealership will allow. It was only like $5000 but still free money.

@smc1377 Год назад

@@KCNYC Wrong, 1000% wrong. You have no idea where dealers make their money. CASH is not king. Dealers HATE cash. In fact, if you walk into a dealership telling them you're paying in cash, they will refuse to give you the best deal. Dealerships make their money in the financing. Literally scroll back up to the search bar and search for yourself.

@smc1377 Год назад

@@KCNYC In fact, I'll save you a little trouble. Here you go. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-MleR3FFaKMU.html

@mikethemechanic7395 26 дней назад

We change almost everything on our Alaska card and Hyatt. We pay it off at the end of the month. We are going to Thailand for vacation this summer. We earned 10 free stays. The hotel we picked is 250 night. We own 2 rentals and my credit score is 825. Life is good.

@theorgelmeisterakathesoapm8589 Год назад

I use mine for everything, but I HATE debt so I ALWAYS pay it off. I use the free air miles as the benefit. My daughter and I are flying across the country first class in June and it's free due to air miles. I consider the credit card cash though in the fact that I don't buy it if I can't pay for it. It' takes a lot of restraint.

@justrandomthings319 Год назад

There's no such thing as first class on any American airline flying domestic. It's business class.

@stevecooper7883 Год назад

@@justrandomthings319 eh, potato potahto

@justrandomthings319 Год назад

@@stevecooper7883 Yeah, you're definitely clueless.

@DioDiablo702 Год назад

sorry to burst your bubble, but if you have a credit card you already have debt. that's what a line of credit is: money given to you that you didn't already have. the only reason that it doesn't feel like debt is because of paying off the balance, but just like a mortgage, it is still debt which is why if reflects on your credit score.

@MikeBNumba6 Год назад

@@justrandomthings319 people be lying life a mf on the internet

@dilbertc1 Год назад

While it may seem convenient and beneficial for the customer, the banks charge the merchants a percentage of each transaction in processing fees - something like 2-4% depending on the network and premium-ness of the card. As a result, selling prices likely already take into account that most will pay by credit. A class action in Canada was recently settled that would now allow the merchants to pass on the processing fees to the customer. Previous merchant agreements did not allow them to surcharge or offer a cash discount.

@skyscraperfan Год назад

German businesses will not accept more than a 1.5% fee. That's why they either decline American Express cards of charge an extra fee. Handling cash of course also comes with fees for transport and insurance. So credit cards need the same or smaller fees than cash.

@AlanTheBeast100 Год назад

See my reply to MassDynamic above.

@ravanpee1325 Год назад

@@skyscraperfan Therefore people in Germany will use a Debit card and not a credit card

@Donkeyearsa 5 месяцев назад

No lawsuit will change anything class action or otherwise. The government has to change the laws that govern how credit cards work.

@Thingsyourollup 3 месяца назад

Good im gonna start paying my cell phone and internet bills on credit as revenge for the obsurd fees they charge me.

@introvertsrock9843 10 месяцев назад

And credit is safer than debit cards. Credit: call Co to dispute charge Debit: call bank & may take days, weeks or longer to get ur $$ back

@CJ-fh5xq Год назад

Credit card churning is fun for me. But I always keep my utilization under 10%. Paid off by the end of the week.

@fastfiddler1625 Год назад

I really wish high school had spent a little more time on life skills like this than how to evaluate the plot of Wuthering Heights. Using apps like My Budget Book is a great tool. Say you get paid. Put the income in. You have all your regular bills logged so you always know how much you have already spent ahead of time on stuff like car, netflix, and rent/mortgage. But use a credit card for most things while referencing your actual checking balance for the month. That way you are never borrowing money you don't have.

@hunterphan5506 Год назад

I hope they teach this in high schools so younger people are aware of the risk/benefit of credit cards and use them responsibly.

@2000freefuel Год назад

That will take an act of congress, as the schools only teach them enough to pass the standardized tests.

@brianc9036 6 месяцев назад

Ur gubernment gets whAt it payz for! Lol!!!!

@OutdoorsSky1 3 месяца назад

I had a personal finance class Senior year. I learned so much about the stock market. Credit cards, loans, balance transfer cards, and managing money. I'm glad I took the class.

@Markyroson 3 месяца назад

Canadian here, but how do people NOT know their interest rate on CCs?! That blew my mind. I spend within my means and carry a small balance to show payment responsibility (could pay it off at any time, always pay above minimums but don’t pay off whole lot at once). Strategy works, keeps interest payments real low and has worked for me as a great credit builder.

@esonon5210 8 месяцев назад

As someone who uses credit cards are 99% of my purchases, everyone should not use credit cards. If you don't have the money to pay it off immediately then don't get a credit card.

@Filuk-cs5yh Месяц назад

so you shouldn't use the word "everyone" then, sonce a lot of people are disciplined and pay their bills on time anyway. Been using the amex platinum for travel perks and it's really worth it.The downside is In Europe, we don't really have points multipliers and there are fewer partners where we can transfer our amex points.

@esonon5210 Месяц назад

@@Filuk-cs5yh reread what i said

@miniena7774 Год назад

A 12-minute advertisement. Incredible.

@Anthony-db7cs Год назад

Just say you can't handle paying your bills and move on

@nathanburgard Год назад

@@Anthony-db7cs what do you pay your credit card bills with?

@miniena7774 Год назад

@@Anthony-db7cs How much does your shill gig pay?

@Anthony-db7cs Год назад

@@miniena7774 More than your underfunded K12 level job. Lay off the internet you conspiracy wacko.

@jessereinhardt6320 Год назад

The comments for this video remind me of 2020 and 2021 - do this behavior or you are not smart or are not cool.

@azppmd Год назад

Use it to your advantage if you are disciplined. Otherwise, do NOT use the credit card. At 20% interest, you can't afford not to pay that off if you have credit card debt.

@jeremyhernandez1624 Год назад

exactly, this only works if you are responsible and spend no more than you earn

@andrewpelletier1849 Год назад

great, video and review of what credit cards look like nowadays. I have three myself and definitely appreciate the rewards i get on dining, and rent payment too. But i am learning that i cant let it sit as now i have interest im paying. I am working on paying it off, and living below my means now.

@alycop9312 Год назад

I have found that the safest way to use credit cards is monthly bills like utilities, no variable expenses. Then pay off right away. It made things easier during the time in my life when the first check of the month pretty much went all to rent. Though, a proper savings will do you even better.

@Education-Edge Год назад

We use our credit cards for EVERYTHING! It's like leaving free money on the table at the end of the day. Just make sure you pay your balance in FULL every month 😊

@thavonephetkhosa7856 Год назад

I do the same thing

@JoseFlores-xh5cj 11 месяцев назад

I personally recommend paying them every single week. Just so you feel the pain of money leaving your wallet and don't go on a shopping spree because "it's free money"

@NadiaSeesIt 8 месяцев назад

@@JoseFlores-xh5cj very good idea

@enthused7591 Год назад

Dave Ramsey's gonna like this one.

@wolfpack6026 3 месяца назад

CNBC is my favourite businessnews media, always so interesting 🤗🤗🤗🤩🤩🤩🙌🏻🙌🏻🙌🏻🙌🏻

@jazzstorie Год назад

I always monitor the cash in my checking and never spend more than I can pay off that day from that account plus another $1k-$2k buffer. Last time I paid any interest on a credit card balance was 2015, it’s been pretty wonderful having airline status and access to lounges as I travel about 1/2 the year

@everydayedgar5782 Год назад

Dave Ramsey punching the air rn

@stoundingresults Год назад

Oh call the Wahmbulance.

@tarzan343 Год назад

I use my Credit as a debit car, I spend what I would normally spend on my debit but with cash back, although I do pay everything as soon as it post on my Credit Card.

@westbccoast Месяц назад

Credit card companies consider anyone who pays off their CC each month 'deadbeats'. You want to be a deadbeat, if you can't pay off each month then don't use one. The rewards are never worth going into CC debt ever, EVER but this is how they trick them.

@thanyalakbandatang-lh7cz Год назад

I have been buying some stocks since the beginning of the year, but nothing substantial. Why am I treating this poorly? However, people in the same profession are earning six figures on articles, which inspires me to aim toward becoming the first person in my polygamous family to hit the million dollar mark. I am perfectly aware that working harder to gain more money is expensive.

@benardpatrick9482 Год назад

The market has taught me that it always bounces back, but I can't seem to concentrate in the long term when important issues like my retirement and my reserve are destabilizing inflation. I must have a strong data trajectory and a quick answer.

@justinajoshua9369 Год назад

@Oliver Dean I have no Advisør at all and this recent dip which i feel was triggered by war resulting to inflation and so many other factors hit my portfolio so hard. who would you recommend i seek out for in times like this?

@ytadventurer9170 Год назад

One of my favorite cards is Citi Custom Cash. No annual fee, and you get 5% cash back on your biggest category (dining, travel, etc) each month. I use it only at grocery stores. Getting 5% back at all grocery stores with no annual fee is NICE. I have 4 main cards I use based on category: One each for grocery, gas, and restaurants, and one general purpose. Plus one for Target and one for Amazon. Mostly 5% back, except for the 2% general purpose. Maybe once a year, I'll take advantage of a $200 or $300 startup offer (when you spend $1k, or something. I'll usually apply for the new card before my car/home insurance bill) and then never use that new card again. That's still 20/30% back on something I have to pay for anyway. As they say in the video, you should only do something like this if you know you're never going to pay interest because you're paying off the full balance every month, and if you're not the type to use credit to buy things you wouldn't with cash.

@alien9279 Год назад

Nice system. I got a general 1.5% cash back but need to find some cards with higher %s. Specific cards for specific purchases interesting

@DustyDustGaming Год назад

What are you using as your gas card? I’m waiting on my citi custom cash card, which I got to get 5% on gas

@markym998 Год назад

One thing to note about this though is that the 5% cash back is limited to $500 spend each month, which will affect some people

@ytadventurer9170 Год назад

@@DustyDustGaming I use BoA for gas, unless it's on Discover's quarterly calendar. BoA starts at 3.3% back and goes up from there based on your accounts with them. If you have over $100k in your combined accounts with them (I'm not there yet...or close) it's 5.25% back.

@GBU61 3 месяца назад

You clearly understand money well to be that organized.

@FinancialShinanigan Год назад

CNBC trying to get cancelled by Dave Ramsay lol

@ryritchey12 8 месяцев назад

Make sure you have a solid budget, are paying on time, and have a plan. Credit cards want you to spend money. Only spend on things you know you will i.e. Groceries, utilities, gas. Then it works really good. Also things like travel cards..... You may get a free flight but that doesn't make the rest of the trip free. Plan out everything financially. If you do it right a good card can do a lot for you.

@deepatterson1835 6 месяцев назад

The problem with the so-called rewards cards is that the rewards isn't enough. You have to do so much for so long to get enough points for it to make it worthwhile😂

@FredEPLk Год назад

Using credit card is not a problem If you know how to use the benefits and control yourself.

@handleyobusiness Год назад

Most aren’t in control.

@yashkalyan Год назад

you forgot to add sponsored by visa and mastercard

@yashkalyan Год назад

@@amandak.4246 Why do you use Internet, when you dont understand jokes and trolls. You belong to the court of ancient times ,go argue there, people like you taking away the fun of Internet, making it formal.Is this your boss office, or I am on web for some fun time after whole day work.

@JoaoSilva22222 11 месяцев назад

I´ve been using CC for the last decade and it allowed me to travel abroad for free every year. Milleage plan is a blessing.

@addij3689 Год назад

I use the Apple CC for everything. I love how it shows what all I’ve spent on. And it shows where I need to spend less on, because before I didn’t realize how much I spent going out and buying little things here and there.

@obi-wantpastrami8745 Год назад

The little purchases really add up.

@jamesleason4004 Год назад

mastercard is not the best issuer. Try to get approved for AMEX gold premier rewards instead. Apple likes to sell their card as the premium card, but I have learned mastercard is at the bottom of the food chain for card issuers. I roll with AMEX gold and chase sapphire(no fee) and this dual card system works great.

@nothingmatters3802 Год назад

No offense but the Apple CC is bad for what it offers. There are plenty of way better no annual CC's like Chase Freedom, Citi Custom Cash, or Capital One Savor.

@wombocombo7557 Год назад

Avoid running up those credit cards people. We're facing down a recession and these people are telling you to pile up debt. Be smart.

@westbccoast Год назад

Wise words

@HeyItsAvi90 Год назад

"telling to pile up debt" CC is only bad if youre financially illiterate. Treat CC as money you currently have then it saves you from scams, theft, gives convenience and cashbacks.

@MileyCyrious Год назад

It definitely is interesting that most Americans have depleted their pandemic savings and are wracking up credit debt while at the same time I feel like the credit bureaus eased credit approvals. I always use mine if I already have money set aside in savings to pay it off immediately. You definitely don't want to fall down the depressing hole of working week to week to pay off your credit card.

@donna8243 Год назад

No one said pile up debt. Stop being so dramatic 🙄

@westbccoast Год назад

@@MileyCyrious Good advice, my general thought is don't spend more than you earn and if you can't pay off your CC every month cut it up. Also don't spend just to get measly cheap rewards and fall into that trap. Only buy what you need, nothing more, nothing less.

@amirrezarezaie Год назад

Nice ad for credit card companies. Well done CNBC.

@ayarborough12 6 месяцев назад

Managing credit is another full time job but people never show up for work

@grobble8954 Год назад

Charged everything for decades & pay in full when due unless a card is on a 0% intro APR period. When a 0% card period is about to end I pay the full amount off. Accumulated astronomical amount of points & cash back, etc...while having a near perfect credit score.

@MassDynamic Год назад

one thing to keep in mind is that the merchants are paying the CC comapnies the fee for the transaction (usually). the fee is then either baked into the price of the good/service or charged separately for individuals that choose to use a card. these card transactions arent "free". we need a form digital payment that charges little to no transaction fees, which will benefit both the producer and consumer.

@xtrey19x Год назад

Those who pay with cash are paying the fee when it's already included in the price of the product/service.

@rogergeyer9851 Год назад

MassDynamic: Expecting such a service to be provided by, say, witches, for free -- is delusional. Credit cards, given the rewards, generally ARE basically free, since most places don't charge more for buying X with a credit card vs. cash.

@skyscraperfan Год назад

That's why I wonder why US merchants accept those fees. In Germany most businesses do not accept American Express at all, as the fees there are much too high. Visa and Mastercard charge less than half of that and that is worth it for the businesses as of course handling cash also comes with fees. And the consumer of course pays with his data. Some payments are just very personal. The bill of a doctor for example. Or of a divorce lawyer. The store might even collect a lot more data, if you pay with credit card.

@_Digitalguy Год назад

credit cards are expensive for marchands, fortunately in some countries like mine you have a free digital payment system that works well and while for goods you need to accept credit cards to stay competiives for services you can decide to take only cash, wire transfers or digital payments with no fees

@ChristianRunsNY Год назад

@@skyscraperfan There is actually an interesting business model for AMEX. They base their whole value on having wealthy clients, and this encourages stores to pay the fees because they will get big spenders in their stores. This model has lead to really stable and continued growth for AMEX because they aren't scrapping around for people to pay them interest. They just rely on the relationships with rich clients and the merchants, themselves being that intermediary.

@Bob-The-Guy Год назад

I use credit cards when buying from large corporate businesses. I will pay cash or sometimes debit cards when buying goods and services from small local, mom and pop businesses. Why? Because those rewards are not paid for by the credit card company, they are paid for by the business through higher transaction fees. Debit cards do not offer rewards and have a lower transaction fee structure which is easier for the little guy to stomach. This is a small way I help to support my local small business community.

@kortyEdna825 День назад

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

@KaurKhangura День назад

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

@carssimplified2195 День назад

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

@NicholasHarmon-ow3jl День назад

How can I reach this person?

@carssimplified2195 День назад

‘’Colleen Rose Mccaffery’ maintains an online presence. Just make a simple search for her name online.

@NicholasHarmon-ow3jl День назад

I checked Colleen up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.

@tfustudios 6 месяцев назад

Moral of the story- Credits are great if you're rich

@hahn310 Год назад

30 years of using a card and paying the balance in full every month. Never understood the widespread psychology of those who use it to pay the minimum or partial balance. My friend bought a $1K audio system but ended up paying more than $3K for it over time with the interest.

@ssj2camaro21 Год назад

You said it yourself. You don't understand. So you won't ever get it

@WorldWide2017 Год назад

@ghost mall My father recently got his first (secured) credit card. He's an old-school immigrant who's quite distrustful of banks. It took him about 20 years for him to put his savings into a bank. I think he would literally stuff his cash under the mattress before then lol. He got a credit card a few months ago to start building credit, which is something of a foreign concept within our family tbh. He's paid the balance in full every single month before the due date, so he's never paid interest and even got a bit of cash back. His personal banking lady was surprised to see that lol. The bank lady says most people walk in asking for an extension on their minimum payments, which absolutely blows our minds. But like you said, if everyone was responsible and paid on time, the industry would implode overnight. Quite frankly, it's better for them to keep people ignorant of personal finance and eager to live a lifestyle of consumerism. 20% APR is borderline extortion.

@jonathandelgado3739 Год назад

Might as well just pay it there and now

@rrsd700 Год назад

Because they are idiots!

@2000freefuel Год назад

for many people, it's a matter of desperation.

@aritragupta4182 Год назад

For regular and small purchases (regular buys like groceries and small one-time buys like clothes), I'd suggest making the payments on the day itself. Every day, make it a habit to check the outstanding amount on your credit card and pay off whatever regular / small purchases you made that day, before going to sleep. And for purchases which you've opted to pay off in installments (like say for a new PC) - don't take on more than one such liability at any given time. That is, don't make another large purchase that you intend on paying off in installments till you've cleared the earlier one.

@harryp3804 Год назад

Are you dumb ? Almost all cards give a interest free period of 50days , paying on the day makes ZERO sense....please avoid using credit cards if your that dim mate

@aritragupta4182 Год назад

@@harryp3804 Credit cards should mostly be used to build a credit profile and to take advantage of rewards, if any. If you want to take advantage of the free credit period, at least maintain your own personal account of expenses so you have an idea of exactly where you're at w.r.t. looming liabilities.

@infographicsnepal2521 Год назад

Payments on the day itself doesn't make sense. I generally keep all my purchases and pay them off at the due date.

@harryp3804 Год назад

@@aritragupta4182 if you shop like a Rich white girl inspite of being middle class af then you have a problem , else always pay on the due date not a single day before you save a ton on the credit period itself as well.

@goodmeasure777 Год назад

@@infographicsnepal2521 Exactly. May as well use your debit card lol.

@t.wilson9432 13 дней назад

I use my credit card for everything and pay it off every month...I get cash back rewards and it keeps others from getting into my banking accounts... Works for me 👍👍👍

@vtech920 7 дней назад

I prefer to use my credit card for all my purchases as it helps me keep track of my spending. I make it a habit to pay off my balance every week. This not only helps me increase my credit rating but is also a safer way to spend money as compared to using my bank card or carrying cash. Credit cards are great if you use them and you pay them off right away.

@unlimitedpower4101 Год назад

I just wanna say how ironic it is that CNBC made a lot of videos about how credit cards are bad and now they're advocating for them...

@docsays Год назад

Credit cards are the safest method of payment. Many cards offer excellent insurance, warranties & protections! But please use responsibly!

@risingembersgaming7740 Год назад

Keep in mind utilization of available credit has an affect on credit score. Under 10% utilization is best.

@nikolaynikolov8047 3 месяца назад

As a middle class European, I shop mainly with my Visa DEBIT CARD. I can book flights, hotels, shop online, pay on a POS and withdraw money without fees. If I want to earn miles(even though in Europe you mainly fly with low cost airlines which don’t provide mils) I just register at the airline frequent flyer program and earn miles, but with my own money. I pay for my flight and that’s it. And the best thing is that I buy my Starbucks with my OWN money. Yes, my Mom has a credit card, but she really avoids using it and if she does, she tries to pay it off asap. I just don’t get why Americans are not educated enough about what in reality is a Credit card aside from the “best” benefits of using it. Im just grateful that in the EU debit cards work the same as the credit cards.

@Pianoman999 11 месяцев назад

Points, rewards and miles mean nothing if you don’t pay it off monthly. The credit game is fun, but discipline is key. It’s awesome that you can pay multiple times a month online as long as you have the cash.