Why You Should Buy Everything With Credit Cards

Рет қаралды 1,768,951

Күн бұрын

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

Пікірлер: 3 100

@SamBass Жыл бұрын

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

@akuapiatas Ай бұрын

lol yes

@apoloningthoujam4551 Ай бұрын

Bro😂😂😂

@RideOnTimePH 28 күн бұрын

I can smell that BS from the title alone 😂

@user-ph1rm8is2p 24 күн бұрын

No lie

@jtgd Жыл бұрын

“Brought to you by VISA”

@Thingsyourollup 5 ай бұрын

By way of Mastercard.

@mgreen9092 2 ай бұрын

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

@islandhopper100 13 күн бұрын

pleading guilty to owning visa stock....getting paid on both sides of a transaction should be illegal.

@antoniowood8119 Жыл бұрын

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 Жыл бұрын

Wow, you want to pay off mine aswell?

@mpirokajosephmgcokoca2355 Жыл бұрын

Good my son! Keep it up 👍

@thezfamily989 Жыл бұрын

Dave ramsey will tell you different lol

@Jeana4life Жыл бұрын

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

@kerrydaniels8460 Жыл бұрын

@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.

@rmfinance1781 Жыл бұрын

Dave Ramsey nearly had a stroke watching this. 😂

@ethanseevers1775 Ай бұрын

Dave Ramsey is jaded.

@Wowsers101 Ай бұрын

@@ethanseevers1775I still think he has a point about some of his beliefs. But he doesn't understand today's economy

@kyleefaren3075 Жыл бұрын

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 Жыл бұрын

Same

@zeezao8196 Жыл бұрын

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

@ChrisakaPES Жыл бұрын

@@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 Жыл бұрын

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

@aritragupta4182 Жыл бұрын

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

@livi_bridge Жыл бұрын

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 Жыл бұрын

@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 Жыл бұрын

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

@jexter22 Жыл бұрын

Correct 🎉😊

@davida8407 Жыл бұрын

@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 Жыл бұрын

Sponsored by Visa, Mastercard and Bank of America.

@xKindle 5 ай бұрын

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

@surrcram 3 ай бұрын

What do you use it on

@kerrydaniels8460 2 ай бұрын

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

@T.S.000 Ай бұрын

I also considered myself as a frugal and a minimalist; however, I use my credit cards whenever it is possible (too bad, I can't pay my mortgage with the c.c.). And for the last 10-12 years, I have been getting a few hundred dollars in cashbacks every single year. Additionally, I have never, once, paid for the interest charge, late fee, annual fee, or any other fees. Furthermore, I no longer carry a lot of cash on me, unless I know that I have to go to the stores that do not accept credit cards.

@Dustyphoto915 29 күн бұрын

Have no credit score and help contribute to ending the corruption that is the American financial system.

@KingDavid-jj7tk Жыл бұрын

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 Жыл бұрын

@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 Жыл бұрын

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

@ConradGosling Жыл бұрын

@@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 Жыл бұрын

@@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 Жыл бұрын

@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"

@timelessmusicfamilymusic9175 Жыл бұрын

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 Жыл бұрын

I agree 100%!

@Towelie- Жыл бұрын

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 Жыл бұрын

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

@bluejedi723 Жыл бұрын

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 Жыл бұрын

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

@Jasongy827 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@MakeItMakeSense285 Жыл бұрын

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 Жыл бұрын

True true! 🙃

@sinan_3384 Жыл бұрын

@@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

@FolarinSodiq 18 күн бұрын

I feel investors should focus on under-the-radar stocks, considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered. I don't know where to go here out of devastation.

@SarahOlivera-t4z 18 күн бұрын

The safest approach I feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.

@RhondaArmstrong-y4d 18 күн бұрын

@@SarahOlivera-t4z It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

@FolarinSodiq 18 күн бұрын

@@RhondaArmstrong-y4d This is considerable! think you could suggest any professionals/advisors? I'm in dire need of proper portfolio allocation.

@RhondaArmstrong-y4d 18 күн бұрын

@@FolarinSodiq My CFA ’ is “Victoria Carmen Santaella”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@FolarinSodiq 18 күн бұрын

@@RhondaArmstrong-y4d I will give this a look, thanks a bunch for sharing.

@Arienrhod 7 ай бұрын

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 3 ай бұрын

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

@T.S.000 Ай бұрын

@@TrigoNomentry : That person may be a business owner. Many business owners tend to have to spend a lot of money each month.

@GhostFromTsushima Ай бұрын

What credit card will u use in arlington virginia for a "regular person"?

@cancelled_user Жыл бұрын

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 Жыл бұрын

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

@mccalejk2 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@darkestDame Жыл бұрын

@@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.

@RomeReactions Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@ZayTson Жыл бұрын

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 Жыл бұрын

@@andidede3653 Dave Ramsey is a joke

@asoka7752 Жыл бұрын

You can get two debit cards.

@JoseFlores-xh5cj Жыл бұрын

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 10 ай бұрын

Where is everyone's money?

@mercedeswilkins5566 8 ай бұрын

Yes

@jaredgates4310 6 ай бұрын

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 5 ай бұрын

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

@BobSure_AKA_PotatoSmasher 5 ай бұрын

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

@MPAzezal Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@AlanTheBeast100 Жыл бұрын

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

@MPAzezal Жыл бұрын

@@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 Жыл бұрын

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

@Tsukei Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

how are they safer than a debit card?

@superazn264 Жыл бұрын

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

@zullyholly Жыл бұрын

@@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 Жыл бұрын

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

@zacharyurda8197 8 ай бұрын

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

@T.S.000 Ай бұрын

Good for you. At least, you are aware that you are not a credit card person. But as for me, I will keep using my credit cards (and getting cashbacks at the end of the year) on most of the things that I need/want to purchase (too bad, I can't pay my mortgage with the c.c.). Btw, I agree that "being debt free is a much less stressful way to live!"

@user-nc2qj2jc5q Ай бұрын

Only carry a prepaid credit card while traveling.

@djm2189 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@djm2189 Жыл бұрын

@@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 5 ай бұрын

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.

@ninjanerdstudent6937 Жыл бұрын

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 Жыл бұрын

Wdym health literacy? I can see this meaning many things

@SweBeach2023 Жыл бұрын

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 Жыл бұрын

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 5 ай бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@musiqueacoustique1 Жыл бұрын

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

@docsays Жыл бұрын

- 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 Жыл бұрын

@@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 Жыл бұрын

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

@nutribunchannel7845 Жыл бұрын

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

@SC-jf2dz 10 ай бұрын

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

@TimothyZhu Жыл бұрын

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.

@Johnrl21 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

Cash is still king at your small family owned business

@jakebrown6305 Жыл бұрын

I was just telling myself the same thing

@edwink1467 Жыл бұрын

@@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 Жыл бұрын

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

@BrothaNeo 5 ай бұрын

Question, isn't it possible that a person can adequately pay their bills on time and STILL be considered untrustworthy? Are ALL high score credit people trustworthy? Does that make 100% sense to gauge a person's trustworthiness on their credit history? Hmm....🤔

@jaredgates4310 6 ай бұрын

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

@ARS757 Жыл бұрын

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

@emmanuelmatos9925 Жыл бұрын

Yup but I kind of support him

@ChristFan868 Жыл бұрын

This is the comment I came here for...

@Lazirus951 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@shinlanten Жыл бұрын

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

@RealityHurts923 Жыл бұрын

I pay every week forget once a month. 820 score

@shinlanten Жыл бұрын

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

@WorldWide2017 Жыл бұрын

@@RealityHurts923 Impressive 👍🏽

@manny7886 Жыл бұрын

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

@michaelreid8857 Жыл бұрын

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

@TacoTuesday4 Жыл бұрын

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.

@ciannacoleman5125 Жыл бұрын

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 8 ай бұрын

Lies again? Change Cars Chubby Children

@Gandhilgvg Жыл бұрын

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

@kitsiewr Жыл бұрын

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

@squirrelcovers6340 Жыл бұрын

Exactly

@angelachanellehuang5663 10 ай бұрын

Credit cards are a trap

@halfsourlizard9319 9 ай бұрын

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

@GBU61 6 ай бұрын

If you mean have cash available in savings, absolutely.

@kitsiewr 6 ай бұрын

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

@user-ny5xe2hx7t 7 ай бұрын

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 7 ай бұрын

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

@JacolienVos 7 ай бұрын

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

@SandraPatterson-di6xh 7 ай бұрын

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 7 ай бұрын

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

@JewellOguin 7 ай бұрын

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

@ryansubera7171 Жыл бұрын

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

@srs9973 Ай бұрын

This one is sarcastic for sure.... 😂😂😂

@javierduran1390 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

Me too.

@Sulfen Жыл бұрын

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

@cancelled_user Жыл бұрын

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

@Education-Edge Жыл бұрын

We wish everyone thinks like you do! 😊

@ShidaiTaino Жыл бұрын

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

@jessereinhardt6320 Жыл бұрын

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

@ryderwashington4199 Жыл бұрын

@@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 Жыл бұрын

@@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 Жыл бұрын

@@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.

@952a259 7 ай бұрын

I enjoyed the video, thank you!

@cherb23 Жыл бұрын

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.

@lulilulu8172 Жыл бұрын

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.

@youtubesucks8024 Жыл бұрын

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

@wenlansima537 8 ай бұрын

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.

@SouvikDas123 Жыл бұрын

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

@smc1377 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@dannydaw59 Жыл бұрын

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 Жыл бұрын

@@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 Жыл бұрын

@@KCNYC In fact, I'll save you a little trouble. Here you go. kzfaq.info/get/bejne/g9KVhZZ3q8evfYk.html

@RTDoh5 Жыл бұрын

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 9 ай бұрын

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

@adarshagrawal5383 Жыл бұрын

Quite insightful! Good takeaways

@dennisc4563 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

@@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 Жыл бұрын

@@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 Жыл бұрын

@@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.

@FinancialShinanigan Жыл бұрын

CNBC trying to get cancelled by Dave Ramsay lol

@Thingsyourollup 5 ай бұрын

I love my hotel point and cash back rewards :)

@andrewpelletier1849 Жыл бұрын

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.

@cardinalsfan9610 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@edwink1467 Жыл бұрын

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

@albear972 Жыл бұрын

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

@rick6582CNCMedicalParts Жыл бұрын

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

@dilbertc1 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

See my reply to MassDynamic above.

@ravanpee1325 Жыл бұрын

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

@Donkeyearsa 8 ай бұрын

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

@Thingsyourollup 5 ай бұрын

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

@introvertsrock9843 Жыл бұрын

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

@kalueric6348 Жыл бұрын

Wow nice video, I've learnt a lot from this, very good advice.

@monkeybusiness2204 Жыл бұрын

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.

@RADIUMGLASS Жыл бұрын

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

@Pianoman999 Жыл бұрын

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.

@MMMmyshawarma Жыл бұрын

Yup, it's funny to watch people spend to the credit's limit. TF is going on in their heads.

@theorgelmeisterakathesoapm8589 Жыл бұрын

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 Жыл бұрын

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

@stevecooper7883 Жыл бұрын

@@justrandomthings319 eh, potato potahto

@justrandomthings319 Жыл бұрын

@@stevecooper7883 Yeah, you're definitely clueless.

@DioDiablo702 Жыл бұрын

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 Жыл бұрын

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

@excusemehello5904 Жыл бұрын

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

@jazzstorie Жыл бұрын

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

@carsgolfcigars 6 ай бұрын

Great episode

@hunterphan5506 Жыл бұрын

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 Жыл бұрын

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

@brianc9036 8 ай бұрын

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

@OutdoorsSky1 5 ай бұрын

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.

@ytadventurer9170 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

@@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 6 ай бұрын

You clearly understand money well to be that organized.

@CJ-fh5xq Жыл бұрын

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

@jessicamamikina7648 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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

@jessicamamikina7648 Жыл бұрын

Like I said earlier , her name is KATRINA VANRENSUM

@jessicamamikina7648 Жыл бұрын

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

@jamesmaduabuchi6100 Жыл бұрын

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

@azppmd Жыл бұрын

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 Жыл бұрын

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

@MassDynamic Жыл бұрын

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 Жыл бұрын

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

@rogergeyer9851 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

@@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.

@Aliza.Siblings 5 ай бұрын

great job

@antoniocruz1163 Жыл бұрын

Great Info.....Thanks

@enthused7591 Жыл бұрын

Dave Ramsey's gonna like this one.

@addij3689 Жыл бұрын

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 Жыл бұрын

The little purchases really add up.

@jamesleason4004 Жыл бұрын

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 Жыл бұрын

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.

@courtneyshannon2621 Жыл бұрын

If you fly a lot with one airline, I definitely recommend getting their rewards card if you qualify for it. I fly United to visit my parents, and when I put the tickets on that card, I get bonus points on top of the frequent flyer miles, a free checked bag, and I get to board at an earlier boarding zone so I usually get space in the overhead bin if I need it. I haven't applied for the TSA precheck yet, but if you do, they pay you back that cost. Plus it covers car rental insurance. They also had a promotion for their payment plans, the first one you start is without fees, so when I need to do major work on my car, I was able to spread out the cost over six months without paying interest. That said, the APR is sky high on these rewards card. They keep raising the credit limit, and it feels like a trap for people who might get stuck in that regard.

@brianc9036 8 ай бұрын

Just curious how much "alot is"? I also fly United to visit my parents they are in a smaller metro and its the only carrier with direct flights. It's maybe 2-3 times a year so not sure if that would make it worth getting their card. I am one of those people who pay off their cards like every week, being doing that since I got my first one in like 05-06 as a 19-20 year old so paying everything off on time is not an issue.

@Markyroson 5 ай бұрын

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.

@fastfiddler1625 Жыл бұрын

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.

@Education-Edge Жыл бұрын

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 😊

@tphet414 Жыл бұрын

I do the same thing

@JoseFlores-xh5cj Жыл бұрын

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 11 ай бұрын

@@JoseFlores-xh5cj very good idea

@xpradaGx Жыл бұрын

I didn’t hop aboard the cash back train until I got the Apple Card a couple months ago. Now I’m addicted to cash back!!

@alloy5317 Жыл бұрын

The purpose of credit card is to take short-term loan and build lenders trust and to make yourself eligible for bigger loans at lower rates such as house mortgages or car loan.

@everydayedgar5782 Жыл бұрын

Dave Ramsey punching the air rn

@stoundingresults Жыл бұрын

Oh call the Wahmbulance.

@miniena7774 Жыл бұрын

A 12-minute advertisement. Incredible.

@Anthony-db7cs Жыл бұрын

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

@nathanburgard Жыл бұрын

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

@miniena7774 Жыл бұрын

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

@Anthony-db7cs Жыл бұрын

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

@jessereinhardt6320 Жыл бұрын

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

@JoaoSilva22222 Жыл бұрын

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.

@messibest4735 Жыл бұрын

Ab to turn 18 soon what kinda of credit card should I get Going to college and I work part time job Any advice

@tarzan343 Жыл бұрын

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.

@ClydeDeVera Жыл бұрын

Informative video. 👍 Only use credit cards if you can pay your purchases off by the end of the month!

@marcelinojr.deperalta3735 Жыл бұрын

this certainly summed up all my research

@SN-bl6xm Жыл бұрын

What credit cards are the best to get points for flights/hotels?

@iTzDritte Жыл бұрын

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 Жыл бұрын

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

@SpaceRanger187 Жыл бұрын

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 Жыл бұрын

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

@mytravls Жыл бұрын

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

@ChrisakaPES Жыл бұрын

@@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)

@maggie0285 Жыл бұрын

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.

@mak23997 Жыл бұрын

which credit card gives 5-6% back on groceries??

@EasyPathFinancial 9 ай бұрын

Great video.

@yashkalyan Жыл бұрын

you forgot to add sponsored by visa and mastercard

@yashkalyan Жыл бұрын

@@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.

@Turgineer Жыл бұрын

I really like the Cashback system. Even if you are going to make a purchase already, it feels so good when your bank gives you a percentage of the amount you spend.

@S.E.O.S 3 ай бұрын

Tks for this video

@malachi- 8 ай бұрын

What a great video to create even more debt addicts.

@chrisaycock5965 Жыл бұрын

I've bought everything on credit cards for years and paid it off every month.. The amount of money I've gotten in rewards is probably a few thousand dollars at this point. My most recent purchase? I got 4 nights in a hotel for free and paid for a few meals with reward points.

@shuki1 Жыл бұрын

About rewards, you actually pay for them in the higher prices merchants need to charge to pay for the transaction fee.

@cancelled_user Жыл бұрын

That's why it makes sense to get it back (and a little extra more) as rewards. 🤣 If you don't have a reward CC, you are paying rewards from your pocket to people who have those reward CCs.

@francisluglio6611 Жыл бұрын

No you don’t. Everyone else pays for it. You’re stealing by using the card. I use my credit card for the rewards by the way. I’m not here to attack credit card users

@retro9173 Жыл бұрын

If there's a better deal paying in cash if it isn't by a lot like less than hypothetically $50 dollars cash in essentially spent gas it's why it's cheaper for you to get more, then fine I can see why the difference between cash or credit at the pump, regardless I could care less if they add that 1, or 1.5% merchant surcharge plus-fee added or even the 18-27.99% APR whatever if I get it back whether in 10 cents or $10 credit added by face value received if using a 2, or 5% cashback rewards, which it's something better than a debit-card-nothing and even beyond beneficially better when using it to pay in full utilities, bills, insurances, cyclical essential goods and staples, etc;. Pay the balance back to the card and it pays you forward that'll add up enough in hundreds if not even thousands money cashback in your pocket for redeemed consumer leisure and discretionary wants all in the while your credit score climbs. Because being disciplined rewards you and you've done good by faith keeping that expenditure under 30% of the cards limit and paying that zero annual credit card fee balance in full before due date, it's a win-win. Mind you that cashback "loop hole" accumulated money grown is fully yours and tax exempt that till this day (and they could) the IRS haven't thankfully reached out and demand consumer report it as capital gains! 🤫😁

@mikethemechanic7395 3 ай бұрын

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.

@Obsidian-Nebula Жыл бұрын

It's not just cars. It got even more crazy since few years ago. I bought an apartment with credit card, I played it off by the end of the month, and among other things I got 5 first class flights per year. Those rewards do get crazy indeed

@FredEPLk Жыл бұрын

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

@handleyobusiness Жыл бұрын

Most aren’t in control.

@alex182618 5 ай бұрын

People spend more when they use credit card. Credit cards are particular Y dangerous on vacation, when people spend much more than what they have planned.

@pdxmusl1510 2 күн бұрын

Some people can yes. I call bs on any claim that says most or all people do this.