Credit Cards: Safer Than Debit Cards?

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Thank you for watching - I really appreciate it :)
Much love,
Evan
#Believe

[t-woods]

Credit cards only work if youre extremely aware of what youre spending and if you pay it off right away. The problem is a very large amount of people think its their money and end up in irreversible debt.

Even if you are responsible and pay off your credit right away, studies still show that people will spend more than someone using cash overall.

[Disney]

I’d love to see this guy and Dave Ramsey have a conversation.

[ethan]

Don’t listen to this guy, he’s an executive for a credit card company literally just propaganda

[jakkejohnson]

Yeah but you still have to make a payment on your card with your money

[swickens]

A credit card is literally a debit card but with interest. The credit system in centralized banking in the USA pretty much destroyed the fiscal responsibility we have in this country

[norfolkbulldogs]

As someone who has had their card skimmed twice, this makes perfect sense. But most people are not financially responsible enough to use a credit card daily and pay it off in full so you don’t get hit with interest. Think about it: if your debit card is skimmed or there are fraudulent charges, your bank will freeze your card and accounts … essentially you have zero access to your own money. When using a credit card, the card may get frozen until it’s resolved but who cares… it’s not your money… just use another card. Also your debit card will never give you cash back or other incentives, or build your credit up like on time payments will.

[kwameamichel]

He’s spot on! The point is that you don’t expose your bank account to fraudulent transactions with comes with using a debit card thus using a credit card ensures that payments for your everyday transactions are paid at your discretion. Just make the payments daily, that’s if you have the discipline to do so. That makes perfect sense and I have been doing this for a few years!

[hungryskinedu]

Can you post the entire conversation so we can get clarity on what he’s fully saying

[kaceesavage]

And when he goes to pay his credit card bill he pays with what? Money from the money market account?

[lukerose]

people who don’t know how to use a credit card are the ones in debt, credit cards are fantastic and will save you tens of thousands of dollars if you know how to use them…

[juggernaut]

I worked for S several banks and what he is saying is true but also lying, for this to work you got to responsible with your spending. The trick is to use but pay back what you borrowed. Not a minimum but all, your score will increase too

[thephenomkid]

So how does he pay back his credit cards..

[TomRipley]

He should use his credit card to get a haircut.

[shawnmacaluso]

oh my gwad. You still have to pay for it.

[findingsuccess]

Interest rate for credit card > interest rate for money

[MichaelDavins-idvx]

But you then use your money to pay off the credit. I don’t understand why he’s saying it’s their money

[charniseelliott]

This is what he is saying, he uses his credit cards to purchase. Think of your personal budget-- if you allow yourself $300 per pay period, use your credit to make those purchases. Then apply the $300 as payment to your credit card. Also, if your credit card offers you any benefits such as cash back, that is super. Now the the gem is to make the payment to your credit card by the closing date, so when your account is being reported to the credit agencies, the balance will be zero, and if you are still without a balance, by the due date, you will have accrued zero interest, and YOU made money off them! Pay attention. This is what "they" don't want you to know! How to play the game by the rules and win!

[wilson]

This is coming from the chairman of a credit card company. 😂😂😂

[trayonreel]

I never use a debit card! I pay the statement balance by the closing date to avoid interest. $1, 000+ annually in rewards!

[NittyGritty]

Wondering if the money market acct is under a different name...?