I Can't Let Go of My Credit Cards Because of the Rewards!

I Can't Let Go of My Credit Cards Because of the Rewards!

The new Borrowed Future uncovers the dark side of the student loan industry and exposes how the system is built to work against you.

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• The Ramsey Show (Highlights):

[superslyko]

When I was a beginner, I took everything Dave said as gospel. Now that I have some maturity & common sense, I can pick & choose!

[WhatDaBidnessIsCuh]

“DONT USE PLASTIC!”

“I use a debit card”

Hate their argument on this topic

[wjxbnpc]

Literally have made over $10k in cash back and have paid exactly $0 interest. I have to disagree with this.

[nrut]

I feel like they are dodging the question. Mentions how cards don't have the same effect as cash when he encourages debit card use. Points aren't for a source of income it's a bonus at the end of the year to take a trip or get gift cards or even just pay off your purchases.

[omyota]

I think Dave is forgetting that a huge portion of people these days never grew up with cash the way he did. It just doesn't have the same impact for anyone in their 30's or younger.

[KennTollens]

The problem with cash is that you can't buy things online.

[concertvids]

I love dave but he avoids the question about using a CC to pay utilities and other bills you pay off every month. The Majority of Americans shouldn't use a CC because it would get them in more debt due to a lack of discipline. However there are people like the person who asked the question who can pay the balance every month for bills they have limited control over.

[kurts]

I can tell you I feel the exact same thing when I pay with cash or card. No difference for me.

[jamesmcclintock]

I budget every single purchase the day it is purchased... I use debit cards and Samsung pay. I FEEL every single purchase and SEE the effects on our monthly budget. These arguments against card usage only work if you don't budget and have the mind and discipline of a child.

[tcgtpl]

How many of these studies include subgroups that actually budget their expenses? Answer: None. Therefore, this straw man argument fails.

[shanecar]

Not much I disagree with Dave on, this is one. Made $2500 on my cards cash back this year.

[raully]

I’m about to get $500 cash back from my CC. I have literally never paid interest on my cards. Am I going to become a millionaire off my cash back? No. Is it nice to have the extra money during the holidays? Yes.

[WhoDeanyUnchained]

Dave: "Don't use plastic!"
Me: "No problem, my cards are metal"😎

[hrsToChooseThis]

I don’t know anyone that pays with a card and doesn’t acknowledge that they now have less money.

[EJx]

I don't understand how your paying more for something using a card than using cash (except at gas stations sometimes). Is it because people impulse buy? I personally put everything on my cards, pay them off every month, have not paid interest once (in 18 years) and have all my money budgeted. Can someone better explain to me, just want a better understanding if anyone has a video or something explaining it.

[Jim_Curtis]

What Ramsey leaves out is that people spend more with plastic when they have NO budget. If you stick to a budget, plastic can just be like cash. It hurts to pay the bill for the card just as much as when you pay it in person. Budgeting is the key to everything.

[RoxiieSays]

CCs definitely aren’t for everyone. But this is where I’ll always advocate for a CC for responsible people! If you are one to stick to your budget, and you pay your balances in full, there is NO NEGATIVE to using your CC for all purchases and reaping all of the rewards. Sorry Dave!

[carlosgutierrez]

This will forever be the topic that I disagree with Dave on.

[donmcilroy]

This advice is for all the people who can't control themselves. If you are going to get a rewards card for this purpose... get a cash back card. Real $$ only. You have to remember who he is talking to.

[marcenelj]

I have coded my brain to feel the same pain level when using CC the same as using cash.. I'm not an impulsive buyer. I don't buy stuff that I don't need just because I'm using a CC. I'm an engineer. I know how numbers work. If I buy something, it's because I NEED it. I usually wait a week+ to buy something that I want. Works good for me