'If You Use Your Credit Cards, You Do Not Want to be Rich. - Mark Cuban

"If You Use Your Credit Cards, You Do Not Want to be Rich. - Mark Cuban

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[seanforeman]

I've used credit cards for 40 years and not once paid any interest.

[Andysaid]

I use my credit cards for cash back, and I pay them off every month. Never once paid interest. Credit cards also help build credit.

[Culperrr]

I still think that using a credit card and paying it off right away is the best way to do it. Gas, groceries, general purchases, etc.. Just don’t buy things you can’t afford to pay off.

[MaverickJW]

I love how the two versions of "financial advice to get rich" given on YouTube shorts are "don't accrue debt" and "debt is how rich people get wealthy".

[mrcash]

God knows Cuban isn’t pulling out the debit card when the check gets delivered

[zeeMuniStacksBundles]

The key to using credit cards is to not carry a balance. Pay them off each month. If you can't do that responsibly, then listen to mark.

[alexmendez]

You should use credit everyday for liability protection/build up credit, just buy what you can really afford. If your credit card is stolen, it’s easier to recoup than debit, as Frank Abagnale said once (ex-FBI consultant whose life story inspired “Catch me if you can”).

[paulne]

A friend of mine used a GM credit card for EVERYTHING. Mortgage, utilities bill, food, gas, trips. But paid the monthly bill in full. He got enough points that GM gave him a free car!

[nicktaber]

Use a credit card but don’t carry a balance

[smbenga]

For anyone bragging about how they always pay off their credit cards on time, you are a part of the vast minority and credit card companies know it. Mark Cuban is addressing the 95% of people who use credit cards as “free money”

[tillmannoneya]

I use cc on basically every transaction. But pay off every month. And get all the benefits. The real key is not to buy things you can’t afford, unless it’s an asset.

[Mich-jkze]

People always flog Dave for his no credit card usage, but let me ask you guys this.
Is the average debit card only or credit card only user more financially responsible?
While it is true that leveraging a credit cards benefits while paying every debt off before interest is the best way, many people don’t have the self-control to do so. I appreciate that Dave has helped so many people that I know and that my parents know get out of debt and build humble fortunes to retire with.

[deathdome]

How to be wealthy the Mark cuban way: step one: build a website when there is no competitors in the market step 2:get rich Step 3:give bad advice online

[triw]

I use credit cards to pay for everything and I pay my credit cards off every month. And I get cash back benefits so yeah, credit cards are bad if you’re spending more than you can pay off before you accrue interest. And bonus, my debit card info is never out there.

[randomized]

I use my credit card as my debit card and its automatically paid.. It's really not that difficult

[inept.f]

I love how he just spoke a lot without actually saying anything, nice vid.

[YogiLogic]

When are we getting to see a full episode with Cuban ?

Looking forward for it....

[scottkolaya]

I've used credit cards for everything I can pay for. Never cash. If they want to pay me an extra 1-2% and give me much more detailed tracking of spending without the risk of using a debit card, I'm good with that. I never treat it as credit, though. Just delayed payment. 40 years without an interest payment.

[Alexskateboards]

I’m 23, have used a credit card for 2 years, and have never accrued a single cent of interest. My credit card bill is typically between $1200 and $1500 each month, and I’ve gained over $1000 in cash back in the time I’ve used it. My credit score isn’t 800 yet, but it’s within ten points of it.

Credit cards aren’t for everybody, and especially if you have trouble making payments on time or managing your debt, but if you’re responsible I just can’t see the issue with having and using a credit card outside of general precautionary purposes

[rachelharassment]

"You just earned 15-20%" Sounds like Girl Math lol