Living in France, it's not common for us to have a credit card. I only have a debit card, like most people here, and if I don't have money, I don't buy anything, simple.
In Europe you use a creditcard when there is no other pay option. It's an extra thing like buying something on an American website you would use the creditcard. You have to pay at the end of each month what you bought with the creditcard, Thats how it works in my country
@@kaaajeee those are investments in assets. Usually something you can sell for more than you originally bought it for or use it to make more money than the original investment.
Hi everyone. I was quite hesitant to create this video because I do not want the message to become skewed. Please consider watching the full video before making a judgement as to which payment method fits you best. For a while, I considered telling everyone to avoid credit cards but the truth is I myself use credit cards to make the majority of purchases throughout my everyday life. I have never paid $0.01 in credit card interest. My advice - If you want to use a credit card, you MUST follow these simple rules: Pay your entire credit card bill IN FULL every month. Never run a balance on your card. The day that you cannot afford to pay your credit card bill is the day that you need to cut it into pieces. Track your spending by using a simple budget to ensure that your spending habits do not change. I track my budget on a monthly basis.
This could make my life so much better I just got a quetion about how you can send 30%of your money To an acount that you use just for Spending on inportant stuff
And if you need help creating a budget and tracking expenses, there’s a bunch of free apps that you can use to link to your account. Like Mint for example, you can link your bank accounts, retirement accounts, and even investment accounts
I can't trust myself with a credit card and I'm way too scared to get into serious debt so I do debit cards that way it's my money and I'm in control I feel much better that way
I use both credit and debit. In the grand scheme of things all a credit card is, is a monthly payment...a payment that if you pay off can make life easier for you in the long run. As far as debit cards go, it’s the mindset of “I’d rather be broke than in debt” which I also respect.
Mackland's Motors if you have a capital one card, you can set it to pay off automatically. This probably works with other cards. Works well if you’re collecting the rewards!
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
I find that tracking my CC balance day to day gives me a clearer picture of my spending - watching my balance GO UP rather than watching my bank account GO DOWN has a different psychological effect and prevents me from unnecessary spending. Of course I also budget and pay my balance in full every month!
"I literally run balance sheets for myself. Is that weird? I don't know." I love this guy. Glad to have discovered you and your work Nate. Big inspiration to see someone younger doing so well and spreading good information.
Right, in the Netherlands you can only get point which you can use to "buy" discounts for stuff. It also has no influence in getting a mortgage but it does in the UK for example.
I just have debit card. And I am fine with it. Credit card scare me when I heard people has debt of $30,000 or $40,000 due to using Credit card. Thanks but no thanks. It's a No-no for me on using credit card.
it's actually very sensible & I agree with it in the context he says it in. But for those of us that are more disciplined & risk-loving, credit cards are the way to go
Self-discipline is arguably the most important thing a human being can learn. Therefore I totally believe credit cards are the right way to go in the end, as long as you have developed some form of discipline beforehand
I have 34 credit cards, about 120 grand in total credit (on all cards combined) and I live on a 960 SSDI check. Here is the kikcer...my Dept on the cards I pay off every month and not once paid 1¢ interest in my whole life! Dave Ramsey is for people who can't grow up
I use a mix of credit cards and cash. It works well for still getting points/benefits but controlling the areas of spending where I struggle with overspending.
@@jessieurena7583 So stop watching him, then. Or don't, because your watches, even hateful ones, and comments, even nasty ones, help him out so....keep up the good work!
Ay, man. New to your channel. I'm definitely learning a lot. It's not flashy. Not over the top. You're straight up honest with how stuff works and how it doesn't. Love it. Keep it up
I’m on Graham’s side, I never use a debt card and very rarely use cash anymore. But to make it work you must always pay off the statement balance in full at the end of the month and make the connection in your mind that if you use a credit card you must have the money to pay for what you buy.
Went *cashless and debitless* for the past couple of years and it's been great. Taking full advantage of credit card sign-up bonuses, the protection against fraudulent activity and upping my credit score!
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
I definitely say use a credit card if you can manage your money effectively and efficiently. Don't be irresponsible and go into credit card debt. It is completely unavoidable and up to the specific person's choices! Great video.
I stumbled across your UA-cam channel a couple of days ago and have learned a lot. I'm 60 years old, make a decent living, but have never, ever, bothered to track my daily spending. This past weekend, I created a spreadsheet and tracked my spending habits from the past six months and was shocked at how much money I frivolously spend on Starbucks, Amazon, and entertainment. So thank you for opening my eyes and helping me be more financially aware. BTW: I love your channel's content.
For me I personally try to put as much on my credit card for the points and building credit, but since I only have a $1,000 limit I only go up to 200-300 dollars per month on it and the rest is debit card. I want to get to the point where I have enough credit to put all my monthly expenses on it.
@@lotto5742 If you use less of the credit available you are showing the cc company/banks that you can deal with credit responsibly and not use it all up. That is what I am doing to build credit. It is called credit utilization ratio and it is good to have it below 30%.
I use cash when paying up front. I use my credit card when paying online. I use my debit card only when I need emergency cash from my bank atm. Always keep your credit/debit card in an RFID blocking sleeve.
One of the best decisions I ever made was to cut up the credit cards. With a credit card it felt like i had all this money at my disposal but with a debit card I know i don't. Now every purchase I make is thought about more carefully before buying.
I haven't used a debit card for purchases apart from my barber and rent in about 5years. I do credit card always and pay them off at the end of the month, A credit line of 15,000 and use about 1000 a month.
trufiend138 Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
I paid off debt following Dave Ramsey but also use my credit card for the cash back reward. Imagine spending $700 and getting $7 back as opposed to using your debit card and getting nothing. I do pay mine off almost immediately if not before I make the purchase with the credit card.
Have used credit a credit card since its inception (I was actual living BC {before credit cards}) and I use the points exclusively for air fares. 💵 💵 💵 💵 💵
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
You’re 100% right it’s not a one size fits all thing. Some people are in the unfortunate situation where they HAVE to use credit cards even though they carry debt. You definitely have to be responsible and very diligent to use the strategies your suggesting, otherwise you could get into some trouble. Great video Nate👍🏾
I had $20,000 in credit card debt 13 years ago because I was buying things I didn’t need. I saw it as money and not borrowed money. After that I swore off credit cards for quite a bit of time and just got a reward credit card again last year. Credit cards are the way to go if you’re financially responsible. I use my credit card for bills/groceries/etc basically everything I would use my debit card for anyway and I get rewards. I do pay my card off twice a month and keep it current. I also do have an emergency fund so I can pay back my credit card when they come up.
Hi Grace, I think credit cards are something that people should avoid until they have a solid grasp on their finances. I’m glad to see that you are going in the right direction
Good job Grace. There's no need to pay it off twice a month though. Just wait until the statement is cut or pay it off by the due date. You just have to track it once a month. If you want to keep paying twice a month, that's fine...but, there's no need to. Once a month is fine.
cjack202003 I put a lot on the card so I prefer to pay every payday vs one huge payment. Also I have a joint checking account with my husband so I don’t have to worry about the money being spent. I also have scheduled my mortgage payments where I pay 1/2 the payment every payday. It makes our finances worry-free for us.
I've never had any issues using a credit, I use it in emergency situations and to reap the rewards benefits. Using plastic definitely causes me to spend more though because cost becomes a nonissue. Not much, but maybe a couple snacks/eating out here and there
@@clvn9ja I definitely agree about the emergency fund, but I haven't had any issues using it so far. It's basically like a debit card (to me) with no over draft fees, just gotta get down to $0 before the next billing cycle. The way I see it, I might as well get extra money for all my regular purchases if I can
i stopped using cash after getting robbed for the third time. I also started conceal carry after, but better safe than sorry. If someone steals my debit card, i can cancel it before they are able to use. Cant cancel cash... As for credit cards...havent had one of those since i had three of them change their supposedly fixed interest without notifying me, going from 18.99% interest, to 22.66, 25.99, and the worst one, 29.99% interest... I trust Congress more than i trust credit card companies these days...
@@RealHealthyGuidance not quite true, i still refer using cash to pay my electric and cable bills, because getting double and triple charged for 1 month, and then spending 4 months fighting to get the wrongly taken money back is a pain in the ASS.
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
You forgot to mention if somebody steals your debt card and wants get cash out they’re gonna need a PIN number to do so even if they go to that bank, the teller asks for information that only you would know. At least that’s how my bank works.
Your points are valid but a lot of people including myself get carried away with credit cards and can't pay back on time and get themselves into loads of debt
when you are single: you don't need a debt card guys. use credit card when you finally grow up and become a mature man with wife and kids: cut off your credit cards and look for financial independence and never let anyone tell you how you should live your financial life (regarding companies like visa, master card, american express and so on)
@@YESHAYA_ duh, thats obvious. Just use someone else's money to make your OWN money. Its like asking your neighbor if you can borrow their screwdriver, using it to fix your own things, then giving it back
Visa and MasterCard don’t lend anyone any money. They are not banks. American Express is a charge card if you don’t pay they close your account. Not a bank either. You clearly don’t know much about credit cards.
@@angeljaimes9703 I don't think most of the average population knows how to "leverage" their money.....or even understand the concept at all which is why credit cards are a time bomb in their hands. And the interest rates credit card charges.......unless u are some kind of small business that pay off ur debts on time every month.
*GREAT VIDEO NATE* Don’t let Dave Ramsey know you made this video, LOL! There are definitely benefits to using a credit card vs. a debit card, but the real important thing you MUST DO is have a budget and make sure that your budget ALWAYS WINS. That is what I teach on my own channel. Do this and you will win. GREAT VIDEO NATE! 😎👍🏻
You do pay money for flights because you spend an absurd amount of money on that card over time, holy moly. Nothing is free in this world. I like Nate a lot and his videos. I do like that he tried to present both sides of this though.
Credit score is not something used in all countries though. In France, they determine if you are eligible to get a loan (e.g., to buy a house) based on the ratio between your salary, your expenses and your savings. Basically, if every month you 'burn' all your money, you're perceived as riskier than someone earning less but consistently making deposits to a saving account. I feel in the US people tend to buy things they don't need with money they don't have... The only times I feel one should need a credit is when buying 'big' things (house, car, etc.). Not for a TV. I’m 26 with over 800 credit score, time was put into that to build it up by COGNITIVEHACKS
@Dream FI Thanks for taking the time to explain this. I just want to know the tricks some people do to outsmart the Credit Card companies / Banks. I happen to love the feeling of not being fooled or tricked by those companies.
Look up Graham Stephan’s channel and Ask Sebby-he goes into detail on how to maximize credit cards rewards/points for travel and always advises not to carry a balance!
I've been using mainly credit cards since discovering your channel. Helped me so much as I just started working. You are amazing. Don't let any mean comments tell you otherwise.
I feel like Dave Ramsey is very knowledgeable, but his ideologies are a bit outdated. He's completely against debt (even good debt). He recommends saving hundreds of thousands then paying for your house with cash. That's completely unrealistic for most of us. I feel like he's too risk averse. I'm much more on the side of Graham Stephan who says credit cards and debt (good debt) are tools that you can use to you're benefit if you're financially intelligent. But I listen to a lot of different finance/entrepreneur/business/investment type youtubers to gain as much knowledge as possible, whether I agree or disagree with their stances.
One of the things that I have learned to do is exactly what you just said, taking a piece of every person who has knowledge and create my own empire. Every person has their own input in how to be financially free, and its up to you to be able to develop your own wealth.
My grandparents lived minimalist life all their life, maybe in 60's it was easier couse you generally didn't have much to buy, but they managed to school their kids to college, build a house, build a weekend house and buy 4 brand new cars in span of 60 years by not taking loan or any kind of mortgage and he had a number of savings accounts. My grandfather had a degree in economics and psychology and that was his thing, same stuff you show in your videos. What I've learned from him is that economics are the core basics in life and I'm grateful he lived long enough to teach me that. His way was similar to yours, he would divide his paycheck in different "storings", first will go to utilities, second will go to savings account, third will go to household account (basically from this one they would buy large household necessities like a car or TV or washing machine - they were expensive at the time) fourth will go to education and kids, fifth will go to food and last one for leisure. Fifth one is the most beneficial for me. They would usually divide grocery shopping in three stages - first one happens every 5-6 months, in that one you basically buy what can stay that long, like, flour, sugar, salt, oil, macaroni, oaths, vinegar, you know, stuff you use on daily basis over and over again for every meal you cook (i'm talking about 200 kg of flour for example), second one is monthly shopping, this is for stuff you need, but not every day, but can still last pretty long, and you use it in span of 1-4 months, so this one is a filler, you just buy what you don't have on it's list, such as honey, meat and fish (they will usually buy few chickens and freeze them, or a whole lamb), veggies that grow underground, alcohol and coffee etc.. Third one is weekly shopping, this one occurs every sunday and it consists of stuff you need for next week and that go bad quickly, dairy, eggs, veggies, sweets etc. My grandma would always run this list couse she was housekeeper and she would cook 3 meals a day. They never bought any processed food (rarely even bought cans) and this way they managed to save almost a paycheck and a half per year only on food, but they never dine at restaurants if there is food in house (spec occasions of course). And your video about grocery shopping is great, but If you do it smart, like my grandparents did, you can still buy in wholesale markets and save money but don't get into buying 8 month stock of cream for example...
You're so smart! i honestly don't like the concept of credit cards, my family had a bad history of it, but you change that perspective for me, great video!!!
I learned I needed a credit score when we couldn’t get a home loan. 🙃 And then I learned that length of credit history matters almost as much as the score itself. So now I have a credit card (paid off every month).
Great video. kudos on laying down the pros and cons of both sides: Using a debit card or a credit card, against not using one or the other. There are definitely benefits and liabilities on how you ise them, you just have to find your balance.
@@NateOBrien good video! Don't be scared to let everyone know the best way to do something. I point out that if they can't manage it, then it might not be for them, but that it is the most optimal way to use the resources at our disposal.
@@roricarr so the two best ones I have right now are both from AMEX but I don't think I can link them without getting flagged for spam. I just need to hurry up and make my cash back video I guess...
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
FYI debit cards are safe I have test messages sent to me overtime I use it. I can then call and cancel the card at anytime. Another thing you can do is to have an additional card that you only kept say $300 on it for when you go shopping in case it's stolen. If it's lost you can then transfer money to your other card, you don't have to wait for a new one sent to you.
Credit cards are for emergencies and building credit Debit cards are for when you want to keep your money in the bank and not on your person I use the debit card to pay off the credit card
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Cash - Everyday use (food, transportation, (...)); Debit Card - Uncommon purchases (cloths, consumer electronics, (...)); Credit Card - Online shopping. This is how I use the three options!
Nate, It is amazing how much you know at your young age. I am 62 years old and when I was your age I had no clue about what you are talking about in this video. I off course have over the years learned the lessons that you are trying to teach in this video. I hope that young people pay attention to the message you are delivering in this video. I suspect that you will be very successful in your finances in the years to come. Great video, thank you for putting it out!
Love the video Nate! Dave Ramsey deals with totally irresponsible people who are in serious debt with credit cards. Kinda makes him look like he hates them, but I did see a video where he was teaching fiscal responsibility and said, make sure you have the cash backing you to pay off large balances in order to avoid interest. Keep up the good work!
I have two debit cards: one for my main account where I get my salary and pay rent, insurance, and utilities. The other is a Mastercard debit card that I use for online payments and shopping in stores
From what I've heard, Dave Ramsey is against credit cards for the majority of people because it's statistically proven that we tend to over-spend when paying with cards as opposed cash.
@@jwho4273 which's understandable. But I don't like the fact that he's so narrow minded on debt (good debt) and credit cards. I'm much more on the side of Graham Stephan who says credit cards are a good tool if you use them correctly
@@michael43567 I feel like its one of those cases where a well known figure makes a statement ("credit cards are bad and will put you in debt") and has gotten known for this statement that it's hard to back out. I wouldn't be surprised if he uses a cc in secret. But you're right, this does spread the narrative that all debt is bad and it's too bad most of his followers aren't branching out and looking for alt.
Excellent video! Your view of credit cards is very balanced and level headed. Credit cards are very dangerous, but they do have some benefits too. I agree that having a credit card should depend on your financial situation and ability to handle it responsibly.
Sucks that as an 18 year old I'm stuck with my no-benefits credit building card. I imagine it'll take a while before I start seeing any real benefits, but I'm sure it's worth it.
hatching draggon your young! Your time will come! I’m 30 and I had my credit card for 10 years and just got a credit line increase and I’m earning cash back.
I use credit cards for most payments. As long as you pay off the balance every month there isnt going to be any interest charges and you can rack up extra money through rewards. The key is to know how much money you have and know your income. Dont spend more than you make. Think of a credit card only as a convenient way to carry your money, but not as a substitute for your money.
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Exactly my point of view on this topic. I would add - it is trickier to do my budget with credit cards because I have to make sure to apply spending in the correct months and pay them off timely, regardless of when it is due. I use credit cards in all of the big purchases that I have to spend and pay it off within 1-2 weeks and definitely within that month I budget that expense for. I still use debit card for restaurant and groceries because it’s easy to blow my budget on it
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Great advice and you explain everything in a very concise manner, no financial mumbo jumbo! Thank you this was very informative and enjoyable. You got yourself a new subscriber...best YT recommendation!
I use a credit card with pre-authorized full payment on the day the credit card is due. I've never paid interests and knowing that the full payment will come out of my bank account helps me use my credit card wisely
If you're still using a Debit Card for your purchases, you're falling behind. Personally I prefer to use Credit Cards for everything for various reasons like consumer protection, price protection and extended warranty on purchases, cash back between 2-5% on my biggest expenses, reward rates ranging from 2x-4x Points on purchases (Redemption Value of 2 cents essentially earning 8%), plus I'll have an electronic record of each of my transactions. Fraud protection as Nate mentioned, if your card is skimmed or demagnetized, would you rather lose your money or the banks? Zero liability for fraud saves a lot of time when you can just press a button rather than having to call your bank and wait for your money to be reimbursed, or worse, having to close your checking account if they managed to get that information. Don't carry a balance. High APRs will negate any earnings and make this system inefficient. I''m scratching the surface so I'll stop here, but Credit Cards are very powerful tools in the hands of responsible and disciplined people and can help you build healthy spending habits and credit management skills that will reward you in life. There's a Credit Card for everything out there, do your research and choose one that your current spending habits and patterns would greatly benefit from. You're going to spend the money anyway, so would you rather use a Credit Card and reap the benefits, having protection with each purchase, receiving cash back and rewards for each transaction, building a strong credit history, or use a Debit card leaving you susceptible to fraud and receiving nothing for your expenses? Thanks for this video Nate, very informative. I look forward to the next!
You are right but because no matter what or how much you pay off your credit card, you are still debt because credit acts a lot like a loan (because every time you make a purchase its not directly from your own account, its from the bank and they pay it off your account monthly) but I agree with you but I personally don't like credit cards because of a "what if" situation and I don't want to get into a mess personally because I have other aspects of life to focus on instead of financial shenanigans, but I do agree. You seem like a very educated person though.
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
I don't know for American customers, but here in Europe debitcards are frequently used. Because of 3 things - The Maestro function enables people to pay with their card in store, restaurants etc, withdraw money from a ATM and transfer money at the same fees as in your own country in 36 countries (SEPA zone) - 0 means 0 --> mostly you can't go below that limit - With the app or computer, you see how much you spent or how much you have left P.S: For the few keyboard warriors among you, keep your opinion for yourself.
@@KaileeWalters Everyone starts somewhere. Lots of people don't even think about this stuff until their late 20s/ early 30s, I'd say you're probably ahead of the curve
I gave up on banks long ago and joined a credit union. My debit and credit cards don't have annual membership assessments. I can see records of debit transactions within hours of purchases and that helps me see how much money is available. My credit union now pays interest on checking accounts, which is actually a better return than on my savings account.
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
5:25 here in india it follows otp system when we purchase something online it requires a otp to be entered, i'was shocked when i got to know that us cards doesn't require any otp anyone and use it
This is the first video I saw from you and at the end of it I liked and subscribed. We want and NEED more videos like this! Big, big like! Good Job Brother!
I don’t understand how people end up paying interest on a credit card? Just make sure you can always pay your balance in full each month and have some self control.
*If you love Nate, let's show him some love with a like on his video!*
The Jaxx Channel - Self-Growth Health Wellness
I sincerely appreciate it!
man how'd you know
@@NateOBrien am sorry
Which is best now a credit card or debit card??
Cause many of ma friends advice me to use debit card!!
I wanna marry him
since I subscribed,I have always given a thumb up on every vedio I have watched.
Living in France, it's not common for us to have a credit card. I only have a debit card, like most people here, and if I don't have money, I don't buy anything, simple.
I use cash 95% of the time , the other 5% I use my debit card for online purchases and for paying my bills
I deeply came across this trustworthy vendor i got my 2 cc from *Ericroboti* on telegram
Same in Russia. Banks usually offer a cashback with debit cards so it's a way better to have a debit card here rather than a credit card.
In Europe you use a creditcard when there is no other pay option. It's an extra thing like buying something on an American website you would use the creditcard. You have to pay at the end of each month what you bought with the creditcard, Thats how it works in my country
Exactly. Americans tend to live on borrowed money which is odd.
Don't spend what you don't have, simple as that.
Why don't they teach it in school!
Couldn't say it any better!
Andrew Horstman exactly. What I’ve always done
how about mortgages, business/student loans ...?
@@kaaajeee those are investments in assets. Usually something you can sell for more than you originally bought it for or use it to make more money than the original investment.
Hi everyone. I was quite hesitant to create this video because I do not want the message to become skewed. Please consider watching the full video before making a judgement as to which payment method fits you best. For a while, I considered telling everyone to avoid credit cards but the truth is I myself use credit cards to make the majority of purchases throughout my everyday life. I have never paid $0.01 in credit card interest.
My advice -
If you want to use a credit card, you MUST follow these simple rules:
Pay your entire credit card bill IN FULL every month. Never run a balance on your card. The day that you cannot afford to pay your credit card bill is the day that you need to cut it into pieces.
Track your spending by using a simple budget to ensure that your spending habits do not change. I track my budget on a monthly basis.
nice video i was the one who commented about graham and your credit card beliefs
This could make my life so much better
I just got a quetion about how you can send 30%of your money To an acount that you use just for Spending on inportant stuff
Its very true. Everyone's situation is different. And everyone needs to evaluate what works best for them. Thanks for sharing an honest perspective
And if you need help creating a budget and tracking expenses, there’s a bunch of free apps that you can use to link to your account. Like Mint for example, you can link your bank accounts, retirement accounts, and even investment accounts
I do exactly the same
I can't trust myself with a credit card and I'm way too scared to get into serious debt so I do debit cards that way it's my money and I'm in control I feel much better that way
Exactly
Your 100% correct
We can do a chargeback on debit card as well, it's the same process as credit card.
click click banks do reimburse you
click click what if you don’t like credit cards
I use both credit and debit.
In the grand scheme of things all a credit card is, is a monthly payment...a payment that if you pay off can make life easier for you in the long run.
As far as debit cards go, it’s the mindset of “I’d rather be broke than in debt” which I also respect.
I only use debit, if I don't have the money here and now, then I'm not buying. Feels like too much pressure to get everything paid on a deadline
Mackland's Motors if you have a capital one card, you can set it to pay off automatically. This probably works with other cards. Works well if you’re collecting the rewards!
I deeply came across this trustworthy vendor i got my 2 cc from *Ericroboti* on telegram
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
I find that tracking my CC balance day to day gives me a clearer picture of my spending - watching my balance GO UP rather than watching my bank account GO DOWN has a different psychological effect and prevents me from unnecessary spending. Of course I also budget and pay my balance in full every month!
Budgeting is what creates financial success!
"I literally run balance sheets for myself. Is that weird? I don't know." I love this guy. Glad to have discovered you and your work Nate. Big inspiration to see someone younger doing so well and spreading good information.
Thank you Connor
I literally saw this comment exactly when he said that on the video 😂
Important to note: a credit score might not be as important in your country as it is in others
Totally agree. I think they does not even exists in my country.
I use cash 95% of the time , the other 5% I use my debit card for online purchases and for paying my bills
Right, in the Netherlands you can only get point which you can use to "buy" discounts for stuff. It also has no influence in getting a mortgage but it does in the UK for example.
Good one. In many countries landlords won't even have access to their tenants' financial records like credit score. That's wayyy too intrusive
A credit score is some flawed American system.
Credit cards are fine, just pay them off every month, ain't rocket science.
Uh no, just only use zero percent cards, that way it doesn’t hurt to carry a balance :)
iv never understood why people pay of credit cards.
Optic500 pay off? Because the interest rates are high. Unless they’re zero percent cards, it’s really dumb to carry high interest balances.
MrGiggity890 yeah but then you rack up debt which you have to eventually pay off duhhhh 🤦🏼♂️🤦🏼♂️
Elgan Powell wut
I just have debit card. And I am fine with it. Credit card scare me when I heard people has debt of $30,000 or $40,000 due to using Credit card. Thanks but no thanks. It's a No-no for me on using credit card.
Same here. I've never had a security/fraud issue with my bank debit card.
Gary Hall exactly just be smart, to not give out personal information, I ave a debt card, it’s way better and it’s your money that you are spending.
Same
Dave Ramsey’s method is for people who struggle with self-discipline 100%!!! Thank you for the video !!
it's actually very sensible & I agree with it in the context he says it in. But for those of us that are more disciplined & risk-loving, credit cards are the way to go
Self-discipline is arguably the most important thing a human being can learn. Therefore I totally believe credit cards are the right way to go in the end, as long as you have developed some form of discipline beforehand
I have 34 credit cards, about 120 grand in total credit (on all cards combined) and I live on a 960 SSDI check. Here is the kikcer...my Dept on the cards I pay off every month and not once paid 1¢ interest in my whole life! Dave Ramsey is for people who can't grow up
100% CORRECT!
@@vacationboyvideos how did you start it off? I'm currently on ssdi as well.
I use a mix of credit cards and cash. It works well for still getting points/benefits but controlling the areas of spending where I struggle with overspending.
Dave Ramsey has left the chat 😂
Chris Invests - Personal Finance Videos 😂
The kid has a lot to learn but he's got a great head on his shoulders and a promising future for sure
@@JCam151 So what is the problem with his advice? Seems pretty sensible to me.
He's an idiot
@@jessieurena7583 So stop watching him, then. Or don't, because your watches, even hateful ones, and comments, even nasty ones, help him out so....keep up the good work!
Using cash I feel more my expenses and I don't do dumb purchases💪
Same here. Can't just swipe.
You are a smart person. Keep it up. You totally get it.
I use that method when I am trying to save up or purchase something I do not need!
@@KrazyVideoChick That means you're using your Debit card which is pretty much like cash
This is a great idea as it can definitely feel more difficult to hand over the cash as opposed to swiping a card.
Ay, man. New to your channel. I'm definitely learning a lot. It's not flashy. Not over the top. You're straight up honest with how stuff works and how it doesn't. Love it. Keep it up
Thank you Eric
Eric Himmelheber wait til you see his yellow dividend shirt! You’re in for a treat!
I’m on Graham’s side, I never use a debt card and very rarely use cash anymore. But to make it work you must always pay off the statement balance in full at the end of the month and make the connection in your mind that if you use a credit card you must have the money to pay for what you buy.
Went *cashless and debitless* for the past couple of years and it's been great. Taking full advantage of credit card sign-up bonuses, the protection against fraudulent activity and upping my credit score!
Just be careful! Good luck
Isn’t it just one signup bonus per credt card? How are you taking advantage of “bonuses”? do you have multiple?
@@joelmiller2601 yes that's right, one bonus per card. In the span of one year you can obtain multiple cards easily (with good credit)
I read the first sentence and thought you'd say you grew your own food 😂
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
I definitely say use a credit card if you can manage your money effectively and efficiently. Don't be irresponsible and go into credit card debt. It is completely unavoidable and up to the specific person's choices! Great video.
The key is to keep a budget
I stumbled across your UA-cam channel a couple of days ago and have learned a lot. I'm 60 years old, make a decent living, but have never, ever, bothered to track my daily spending. This past weekend, I created a spreadsheet and tracked my spending habits from the past six months and was shocked at how much money I frivolously spend on Starbucks, Amazon, and entertainment. So thank you for opening my eyes and helping me be more financially aware. BTW: I love your channel's content.
For me I personally try to put as much on my credit card for the points and building credit, but since I only have a $1,000 limit I only go up to 200-300 dollars per month on it and the rest is debit card. I want to get to the point where I have enough credit to put all my monthly expenses on it.
Why only $200-$300 if you have a $1000 limit?
Great tips Chris!
@@lotto5742 If you use less of the credit available you are showing the cc company/banks that you can deal with credit responsibly and not use it all up. That is what I am doing to build credit. It is called credit utilization ratio and it is good to have it below 30%.
you can pay your cc more than once a month
Pay it off multiple times a month...
I use cash when paying up front.
I use my credit card when paying online.
I use my debit card only when I need emergency cash from my bank atm.
Always keep your credit/debit card in an RFID blocking sleeve.
Credit card= stay under 6% utilization or 10 % of the total amount on the card you be good
One of the best decisions I ever made was to cut up the credit cards. With a credit card it felt like i had all this money at my disposal but with a debit card I know i don't. Now every purchase I make is thought about more carefully before buying.
Exactly 💯
I haven't used a debit card for purchases apart from my barber and rent in about 5years. I do credit card always and pay them off at the end of the month, A credit line of 15,000 and use about 1000 a month.
I’m using credit cards primarily right now to leverage my credit score so I can scale my Ecom business
trufiend138 Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
I paid off debt following Dave Ramsey but also use my credit card for the cash back reward. Imagine spending $700 and getting $7 back as opposed to using your debit card and getting nothing. I do pay mine off almost immediately if not before I make the purchase with the credit card.
You pay the credit card at the same time you use it?
There are plenty of no fee 2% cards. You could easily be getting $14 back actually or even more.
Credit is basically ALWAYS the best way to go.
That is... if you can control your spending! Great video Nate!
The only problem: 90% of people can't control their spending... (Not the viewers of this channel though!)
It all comes down to self-awareness!!!
Have used credit a credit card since its inception (I was actual living BC {before credit cards}) and I use the points exclusively for air fares. 💵 💵 💵 💵 💵
Ken! You are the man! Appreciate the comment. Cards have really come a long way over the years
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Damn why he have to come for Art History majors like that 😂💀
You’re 100% right it’s not a one size fits all thing. Some people are in the unfortunate situation where they HAVE to use credit cards even though they carry debt. You definitely have to be responsible and very diligent to use the strategies your suggesting, otherwise you could get into some trouble. Great video Nate👍🏾
Debit Cards are an easy way for someone to get direct access to your checking accnt
Nah. Not with chip and pin. Oh wait, US doesn't really have those yet... damn
@@katielo.8451 sike I just got my debbit and it has pin and chip were converting to it slowly but surely
There is no money in my account so :)
Sure, if you don't have a pincode. Which everyone has in Europe. Even pinless purchases have relatively low maximums.
@@katielo.8451 We do, It can still get compromised lmfao
I had $20,000 in credit card debt 13 years ago because I was buying things I didn’t need. I saw it as money and not borrowed money. After that I swore off credit cards for quite a bit of time and just got a reward credit card again last year. Credit cards are the way to go if you’re financially responsible. I use my credit card for bills/groceries/etc basically everything I would use my debit card for anyway and I get rewards. I do pay my card off twice a month and keep it current. I also do have an emergency fund so I can pay back my credit card when they come up.
Hi Grace,
I think credit cards are something that people should avoid until they have a solid grasp on their finances. I’m glad to see that you are going in the right direction
Good job Grace. There's no need to pay it off twice a month though. Just wait until the statement is cut or pay it off by the due date. You just have to track it once a month. If you want to keep paying twice a month, that's fine...but, there's no need to. Once a month is fine.
cjack202003 I put a lot on the card so I prefer to pay every payday vs one huge payment. Also I have a joint checking account with my husband so I don’t have to worry about the money being spent. I also have scheduled my mortgage payments where I pay 1/2 the payment every payday. It makes our finances worry-free for us.
Might follow what you did Grace👍 but where do you deposit your emergency fund? And how can you transfer to pay off your credit card?
@@jojo-fj7lw I have a savings account for my emergency fund. To pay my credit card I just transfer it directly from my checking account.
I've never had any issues using a credit, I use it in emergency situations and to reap the rewards benefits.
Using plastic definitely causes me to spend more though because cost becomes a nonissue. Not much, but maybe a couple snacks/eating out here and there
Not an expert but you probably wanna save up your emergency fund instead of using the credit card as your emergency fund. 17% interest ain't no joke.
@@clvn9ja I definitely agree about the emergency fund, but I haven't had any issues using it so far. It's basically like a debit card (to me) with no over draft fees, just gotta get down to $0 before the next billing cycle.
The way I see it, I might as well get extra money for all my regular purchases if I can
i stopped using cash after getting robbed for the third time.
I also started conceal carry after, but better safe than sorry. If someone steals my debit card, i can cancel it before they are able to use. Cant cancel cash...
As for credit cards...havent had one of those since i had three of them change their supposedly fixed interest without notifying me, going from 18.99% interest, to 22.66, 25.99, and the worst one, 29.99% interest...
I trust Congress more than i trust credit card companies these days...
I like your thinking wolfy
Only old ppl and criminals use cash
@@RealHealthyGuidance not quite true, i still refer using cash to pay my electric and cable bills, because getting double and triple charged for 1 month, and then spending 4 months fighting to get the wrongly taken money back is a pain in the ASS.
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Never stop making these vids plsss
I won’t
can we get an apartment tour please 🙏 , but besides that nice video
It’s coming! I ha e a few more things to set up
Nate O'Brien yessss
He is living in a closet. What is there to see?
@@RealHealthyGuidance part of being a minimalist
I love using debit card but sometimes when you don’t use your money in the but they say it overdraft protection.
Can you make a video on credit card bonuses ? I consider myself a responsible credit card owner and I love love to hear your tips !
What company do you use? You can always talk to them of the benefits that comes with it
You forgot to mention if somebody steals your debt card and wants get cash out they’re gonna need a PIN number to do so even if they go to that bank, the teller asks for information that only you would know. At least that’s how my bank works.
The could still use it for online payments
I love how you approached this topic by mentioning differing opinions.
I do use credit cards of grocery stores. At the end of the month I get cash back and can use it for more food.
My dude deserves WAYYYY more subs!! Let’s get him to 1M!!
Done
I have debit card with 1% cashback and it's awesome. Also I can choose up to 3 categories with increased cashback. So I prefer using debit card.
Same here.
Your points are valid but a lot of people including myself get carried away with credit cards and can't pay back on time and get themselves into loads of debt
when you are single: you don't need a debt card guys. use credit card
when you finally grow up and become a mature man with wife and kids: cut off your credit cards and look for financial independence and never let anyone tell you how you should live your financial life (regarding companies like visa, master card, american express and so on)
Credit cards dont dictate your life at all. In fact, credit cards give you more financial freedom as they allow you to leverage your money
If it has a loan, it’s not your money
@@YESHAYA_ duh, thats obvious. Just use someone else's money to make your OWN money. Its like asking your neighbor if you can borrow their screwdriver, using it to fix your own things, then giving it back
Visa and MasterCard don’t lend anyone any money. They are not banks. American Express is a charge card if you don’t pay they close your account. Not a bank either. You clearly don’t know much about credit cards.
@@angeljaimes9703 I don't think most of the average population knows how to "leverage" their money.....or even understand the concept at all which is why credit cards are a time bomb in their hands.
And the interest rates credit card charges.......unless u are some kind of small business that pay off ur debts on time every month.
For the first time after about a year I fully understand how credit/debit cards work i had to subscribe🔥
*GREAT VIDEO NATE* Don’t let Dave Ramsey know you made this video, LOL! There are definitely benefits to using a credit card vs. a debit card, but the real important thing you MUST DO is have a budget and make sure that your budget ALWAYS WINS. That is what I teach on my own channel. Do this and you will win. GREAT VIDEO NATE! 😎👍🏻
Budgeting is key
Nate O'Brien yep! If you don’t budget, you will lose with BOTH DEBIT and CREDIT! 👌
You do pay money for flights because you spend an absurd amount of money on that card over time, holy moly. Nothing is free in this world. I like Nate a lot and his videos. I do like that he tried to present both sides of this though.
Credit score is not something used in all countries though. In France, they determine if you are eligible to get a loan (e.g., to buy a house) based on the ratio between your salary, your expenses and your savings. Basically, if every month you 'burn' all your money, you're perceived as riskier than someone earning less but consistently making deposits to a saving account. I feel in the US people tend to buy things they don't need with money they don't have... The only times I feel one should need a credit is when buying 'big' things (house, car, etc.). Not for a TV. I’m 26 with over 800 credit score, time was put into that to build it up by COGNITIVEHACKS
Nate, can you make a video of how to take advantage of credit cards? like to getting miles? THANKS
I will do this! Stay tuned
@Dream FI Thanks for taking the time to explain this. I just want to know the tricks some people do to outsmart the Credit Card companies / Banks. I happen to love the feeling of not being fooled or tricked by those companies.
Marisol Mena they're a scam, don't bother
You should look up Graham Stephan he talks about his process!
Look up Graham Stephan’s channel and Ask Sebby-he goes into detail on how to maximize credit cards rewards/points for travel and always advises not to carry a balance!
I've been using mainly credit cards since discovering your channel. Helped me so much as I just started working. You are amazing. Don't let any mean comments tell you otherwise.
Thank you Beth. Comments like yours convince me to keep making videos
I feel like Dave Ramsey is very knowledgeable, but his ideologies are a bit outdated. He's completely against debt (even good debt). He recommends saving hundreds of thousands then paying for your house with cash. That's completely unrealistic for most of us. I feel like he's too risk averse. I'm much more on the side of Graham Stephan who says credit cards and debt (good debt) are tools that you can use to you're benefit if you're financially intelligent. But I listen to a lot of different finance/entrepreneur/business/investment type youtubers to gain as much knowledge as possible, whether I agree or disagree with their stances.
One of the things that I have learned to do is exactly what you just said, taking a piece of every person who has knowledge and create my own empire. Every person has their own input in how to be financially free, and its up to you to be able to develop your own wealth.
@@JazminBautista yep no 1 person has all the answers
No debt is good dumb dumb.
@@Nico-zw9ud Many people who created companies or shops and are now well off borrowed money to begin. Debt isn't always the devil.
@@jimmyking92 Mention one that did that.
My grandparents lived minimalist life all their life, maybe in 60's it was easier couse you generally didn't have much to buy, but they managed to school their kids to college, build a house, build a weekend house and buy 4 brand new cars in span of 60 years by not taking loan or any kind of mortgage and he had a number of savings accounts. My grandfather had a degree in economics and psychology and that was his thing, same stuff you show in your videos. What I've learned from him is that economics are the core basics in life and I'm grateful he lived long enough to teach me that. His way was similar to yours, he would divide his paycheck in different "storings", first will go to utilities, second will go to savings account, third will go to household account (basically from this one they would buy large household necessities like a car or TV or washing machine - they were expensive at the time) fourth will go to education and kids, fifth will go to food and last one for leisure. Fifth one is the most beneficial for me. They would usually divide grocery shopping in three stages - first one happens every 5-6 months, in that one you basically buy what can stay that long, like, flour, sugar, salt, oil, macaroni, oaths, vinegar, you know, stuff you use on daily basis over and over again for every meal you cook (i'm talking about 200 kg of flour for example), second one is monthly shopping, this is for stuff you need, but not every day, but can still last pretty long, and you use it in span of 1-4 months, so this one is a filler, you just buy what you don't have on it's list, such as honey, meat and fish (they will usually buy few chickens and freeze them, or a whole lamb), veggies that grow underground, alcohol and coffee etc.. Third one is weekly shopping, this one occurs every sunday and it consists of stuff you need for next week and that go bad quickly, dairy, eggs, veggies, sweets etc. My grandma would always run this list couse she was housekeeper and she would cook 3 meals a day. They never bought any processed food (rarely even bought cans) and this way they managed to save almost a paycheck and a half per year only on food, but they never dine at restaurants if there is food in house (spec occasions of course). And your video about grocery shopping is great, but If you do it smart, like my grandparents did, you can still buy in wholesale markets and save money but don't get into buying 8 month stock of cream for example...
Credit works for us, when I swipe I immediately and now I owe someone. I never spend more than I have in checking.
.
Works for me too!
You're so smart! i honestly don't like the concept of credit cards, my family had a bad history of it, but you change that perspective for me, great video!!!
Shai keep looking for knowledge and you'll soon be in the position that will make you financially free!!
I havent used a credit card in years & i still have a high credit score.
I learned I needed a credit score when we couldn’t get a home loan. 🙃 And then I learned that length of credit history matters almost as much as the score itself. So now I have a credit card (paid off every month).
Great advice Nate! We have a business podcast located in Sacramento, if you are ever in the area we would love to have you as a guest!
Great video. kudos on laying down the pros and cons of both sides: Using a debit card or a credit card, against not using one or the other. There are definitely benefits and liabilities on how you ise them, you just have to find your balance.
Taking a credit card out early set me up for credit usage later. I get about $800 back a year from cash back now.
Great to hear!
@@NateOBrien good video! Don't be scared to let everyone know the best way to do something. I point out that if they can't manage it, then it might not be for them, but that it is the most optimal way to use the resources at our disposal.
@@will-financialliteracy-fin9369 which credit cards would you recommend, mate?
Cheers;)
@@roricarr so the two best ones I have right now are both from AMEX but I don't think I can link them without getting flagged for spam. I just need to hurry up and make my cash back video I guess...
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
FYI debit cards are safe I have test messages sent to me overtime I use it. I can then call and cancel the card at anytime. Another thing you can do is to have an additional card that you only kept say $300 on it for when you go shopping in case it's stolen. If it's lost you can then transfer money to your other card, you don't have to wait for a new one sent to you.
5:37 that's why there's 3d verification and you can freeze your card from your phone
Car insurance companies use a credit score as well to determine insurance cost. Ask me how I know 😂😂😂😂
Ok I'll bite...how do you know?
I pay mine off yearly and I have no credit I only use the money I make. Simple
Thanks for the video. I would probably use much more frequently a credit card if I lived in the US. In Europe “credit score” does not mean anything.
I don't know... I don't like being on a deadline to make payments... I'm still a debit guy.
Credit cards are for emergencies and building credit
Debit cards are for when you want to keep your money in the bank and not on your person
I use the debit card to pay off the credit card
Ninjaslash52 _ u can do that ??
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Cash - Everyday use (food, transportation, (...));
Debit Card - Uncommon purchases (cloths, consumer electronics, (...));
Credit Card - Online shopping.
This is how I use the three options!
João Graça Why not use credit for everything?
@@derricklamar1681 how can we pay off credit card if we don't have debit?
I hate when I’m reading comments then a stupid ad scrolls me to the top 😒
Nate, It is amazing how much you know at your young age. I am 62 years old and when I was your age I had no clue about what you are talking about in this video. I off course have over the years learned the lessons that you are trying to teach in this video. I hope that young people pay attention to the message you are delivering in this video. I suspect that you will be very successful in your finances in the years to come. Great video, thank you for putting it out!
Love the video Nate! Dave Ramsey deals with totally irresponsible people who are in serious debt with credit cards. Kinda makes him look like he hates them, but I did see a video where he was teaching fiscal responsibility and said, make sure you have the cash backing you to pay off large balances in order to avoid interest. Keep up the good work!
I like hearing all the point of views of a subject. Thanks.
Thanks Adam
Finally someone who speaks my language
How you pay is almost as important as how much you pay!
I have two debit cards: one for my main account where I get my salary and pay rent, insurance, and utilities. The other is a Mastercard debit card that I use for online payments and shopping in stores
Do u pay monthly fees for ur debit card?
That's how to do it 👍
From what I've heard, Dave Ramsey is against credit cards for the majority of people because it's statistically proven that we tend to over-spend when paying with cards as opposed cash.
Also Dave Ramsey's target audience tends to be folks who have fallen under debt due to credit cards and the only way out is to cut it up.
@@jwho4273 which's understandable. But I don't like the fact that he's so narrow minded on debt (good debt) and credit cards. I'm much more on the side of Graham Stephan who says credit cards are a good tool if you use them correctly
@@michael43567 I feel like its one of those cases where a well known figure makes a statement ("credit cards are bad and will put you in debt") and has gotten known for this statement that it's hard to back out. I wouldn't be surprised if he uses a cc in secret. But you're right, this does spread the narrative that all debt is bad and it's too bad most of his followers aren't branching out and looking for alt.
Excellent video! Your view of credit cards is very balanced and level headed. Credit cards are very dangerous, but they do have some benefits too. I agree that having a credit card should depend on your financial situation and ability to handle it responsibly.
Sucks that as an 18 year old I'm stuck with my no-benefits credit building card. I imagine it'll take a while before I start seeing any real benefits, but I'm sure it's worth it.
Just make sue you pay it off in full!
Good luck!
It will all come in time !! Keep your head up!
hatching draggon your young! Your time will come! I’m 30 and I had my credit card for 10 years and just got a credit line increase and I’m earning cash back.
I use credit cards for most payments. As long as you pay off the balance every month there isnt going to be any interest charges and you can rack up extra money through rewards. The key is to know how much money you have and know your income. Dont spend more than you make. Think of a credit card only as a convenient way to carry your money, but not as a substitute for your money.
Congratulations on your new apartment!
Thank you!
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Exactly my point of view on this topic. I would add - it is trickier to do my budget with credit cards because I have to make sure to apply spending in the correct months and pay them off timely, regardless of when it is due. I use credit cards in all of the big purchases that I have to spend and pay it off within 1-2 weeks and definitely within that month I budget that expense for. I still use debit card for restaurant and groceries because it’s easy to blow my budget on it
“Cash diet” lol
You say exactly what my parents told me
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Great advice and you explain everything in a very concise manner, no financial mumbo jumbo! Thank you this was very informative and enjoyable. You got yourself a new subscriber...best YT recommendation!
I never use debit card for purchases. I love my cc rewards, it’s free money.
Cash back and sign up bonuses.
Just be careful
My frugal life but interest rates though :/
Interest rates don’t matter. I don’t pay them anyways because I pay the bill money n full.
Interest rates don’t matter. I don’t pay them anyways because I pay the bill in full.
I use a credit card with pre-authorized full payment on the day the credit card is due. I've never paid interests and knowing that the full payment will come out of my bank account helps me use my credit card wisely
Alexis Which card is this, sounds like a good idea.
If you're still using a Debit Card for your purchases, you're falling behind. Personally I prefer to use Credit Cards for everything for various reasons like consumer protection, price protection and extended warranty on purchases, cash back between 2-5% on my biggest expenses, reward rates ranging from 2x-4x Points on purchases (Redemption Value of 2 cents essentially earning 8%), plus I'll have an electronic record of each of my transactions. Fraud protection as Nate mentioned, if your card is skimmed or demagnetized, would you rather lose your money or the banks? Zero liability for fraud saves a lot of time when you can just press a button rather than having to call your bank and wait for your money to be reimbursed, or worse, having to close your checking account if they managed to get that information. Don't carry a balance. High APRs will negate any earnings and make this system inefficient. I''m scratching the surface so I'll stop here, but Credit Cards are very powerful tools in the hands of responsible and disciplined people and can help you build healthy spending habits and credit management skills that will reward you in life. There's a Credit Card for everything out there, do your research and choose one that your current spending habits and patterns would greatly benefit from. You're going to spend the money anyway, so would you rather use a Credit Card and reap the benefits, having protection with each purchase, receiving cash back and rewards for each transaction, building a strong credit history, or use a Debit card leaving you susceptible to fraud and receiving nothing for your expenses? Thanks for this video Nate, very informative. I look forward to the next!
You are right but because no matter what or how much you pay off your credit card, you are still debt because credit acts a lot like a loan (because every time you make a purchase its not directly from your own account, its from the bank and they pay it off your account monthly) but I agree with you but I personally don't like credit cards because of a "what if" situation and I don't want to get into a mess personally because I have other aspects of life to focus on instead of financial shenanigans, but I do agree. You seem like a very educated person though.
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
I don't know for American customers, but here in Europe debitcards are frequently used. Because of 3 things
- The Maestro function enables people to pay with their card in store, restaurants etc, withdraw money from a ATM and transfer money at the same fees as
in your own country in 36 countries (SEPA zone)
- 0 means 0 --> mostly you can't go below that limit
- With the app or computer, you see how much you spent or how much you have left
P.S: For the few keyboard warriors among you, keep your opinion for yourself.
What the hell I feel like I’ve seen this video already
I actually liked this someone who finally encourages debit cards if thats more suitable simply. Thank you for also explaining the con of a debit card.
I think we're about the same age but you're definitely more of adult than I am hahaha
I'm feeling old. I'm already 21
@@NateOBrien Okay we are the same age. I'm feeling underprepared
We all mature differently !!!
@@KaileeWalters Everyone starts somewhere. Lots of people don't even think about this stuff until their late 20s/ early 30s, I'd say you're probably ahead of the curve
@@user-ww6ii6zn8m lol shame im 16
I gave up on banks long ago and joined a credit union. My debit and credit cards don't have annual membership assessments. I can see records of debit transactions within hours of purchases and that helps me see how much money is available. My credit union now pays interest on checking accounts, which is actually a better return than on my savings account.
When you use debit cards you are missing out on a lot of rewards that you could be getting with credit cards!
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
Always love your videos . So educational!!!
💯💎
No paper trails of course.
Yes
5:25 here in india it follows otp system when we purchase something online it requires a otp to be entered, i'was shocked when i got to know that us cards doesn't require any otp anyone and use it
Art History dig had me dying
You know it’s true
@@NateOBrien Hey man, one of my friends got a BA in art history and makes mid six-figures
This is the first video I saw from you and at the end of it I liked and subscribed.
We want and NEED more videos like this! Big, big like! Good Job Brother!
I quit art history last year 😂
I don’t understand how people end up paying interest on a credit card? Just make sure you can always pay your balance in full each month and have some self control.