Why rich people ALWAYS pay with credit cards 🤯🤫 #lawyer #erikataughtme #shorts

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I’ve been paying all my bills with credit cards for more than 2 decades and pay it off in full every month. Lots of rewards.

willflourish
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This only works if people are financially responsible which sadly most people aren't.

jasonk
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Most people can't be trusted with credit cards, but they can be very useful if you can live within your means.

technobabble
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The main benefit is that a credit card isn’t tied to your checking account. I rarely use my debit card. I prefer using the banks money and just paying it off at the end of each week. It works for me and I feel better knowing if someone steals the card info and uses it, they’re not impacting my bank balance.

cawheeler
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I use to be terrible with credit cards but the past couple years I’ve been paying off my balance every month and the cash back I get is a game changer.

LoXHumaN
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You have to have discipline to have credit cards. People saying that credit cards are bad are usually in financial trouble! Live within your means, no matter how much money you make!

mrbojangles
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This is actually totally false. Debit cards have the same fraud protections as credit cards. Visa even says so on their website. I spent most of my adulthood never using credit cards and i never had a problem disputing fraudulent charges with my debit cards with any of the financial institutions I've been with.

salemthorup
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Debit cards have the same federal protections against fraudulant use as credit cards.

WendyW
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IRL: "Lady, just wrap up my purchase and restock more merchandise."

busterhikney
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it's baffling to me that people would use credit cards to buy things they cannot afford and then have to pay interest on it. amazing.

lullemans
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Besides, if I am not mistaken there is some kind of insurance included for the product if you pay with credit

AnnMarks
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Studies have shown that a person will spend 12-17% more using credit than cash.

runfire
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I do this. Just don’t carry a statement balance and it’s free money

brooklynattic
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Good advice. But all those points are moot when you spend more than you have. And most people do.

Mew-chan
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I pay for everything with my cc now, and pay off the balance each month. As much as I travel I should have picked the mile, but I did the cash back. I average about 25 bucks a month.

jsikes
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I had my debit cards stolen and a ton of money spent at shops and online before they got blocked. Called my bank the next day and they refunded all the money back so that point is BS.

TheJCFiles
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I find it fascinating hiw much the US relies on the credit.

I do understand there is logic in the system, but it honestly seems like a trap for people who will overspend and then have a problem repaying it.

And since credit cards are still popular, it means that they get way more from people's interest, then they loose when somebody's card is stolen.

NiveaCow
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The advantage of credit cards is that if there's a dispute (card got stolen, mistake at the store, etc) the store doesn't have YOUR money yet. They have Visa's money. If you use debit card, the store has your money.

hoi-polloi
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IF you are responsible! IF IF IF IF... When you get in a jam and you can't pay it off at the end of the month, that's when the problems start. Credit cards are a joke, the whole system is a joke

AlexMuchacho
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I was trapped in perpetual financial ruin last year, til I sold my house and now I’m debt free. That’s just not something I want to go through again

DudetaketheBus