What's WRONG With A Credit Card If I Pay It Off EVERY MONTH?
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- Опубліковано 5 жов 2024
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This Video: • What's WRONG With A Cr...
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Video host: Jaspreet Singh
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DISCLAIMER CONT'D: I'm just a random guy on UA-cam so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
Thank you for watching! If you enjoyed this video, you should watch - The 20 Laws Of Money That Will Make You Wealthy: ua-cam.com/video/d_ZTiAmBGuM/v-deo.html
My friend how are u...im a subscriber...check out this credit card called upgrade..it gives 2percent cash back when u pay the bill..free99 a year....
Keep up the great work thanks for info...
@minoritymindset What about cryptocurrency? When it comes to the sanctions on Russia and their money losing value, does their cryptocurrency lose value, too or is that a way for them to protect their money? If the government controls crypto, how could sanctions affect us/the value of our money vs if they dont control it? Can you explain?
Minority Mindset, In regard to bail-ins, are Credit Unions safer than banks?
Jazpreet you are the best. Thank you for going back to YOU. I've been a follower for a bit. Both you and Dave Ramsey have helped myself and my family. We are almost out of debt. Thank you and keep HUSTLING!
Credit cards are a must have for people who have discipline and control. You must pay off your balance monthly to maximize credit cards. I easily get back between 3-7% for every dollar I spend. Yearly I usually get between $12k to $17k in travel rewards/cash back just from daily and business usage.
It's a no-brainer and you will be leaving money on the table if you follow David Ramsey's horrible advice. His advice applies to those who do not have discipline and control of their money management decisions.
I heard that about him. His advice is true but only for people who cannot control their spending and end up paying interest
Amen! I just stated the same thing.
I never paid credit card interest in my 51 years of life. Yep 2% on Citi double, 5% on Citi Custom, 3 and 4% on Citi Costco for restaurant and gas respectively.
@@hansschotterradler3772 People like you need to debate Dave
Well, I use my card 80% business, 20% personal. Paid in full every month… Just two weeks ago I redeemed my CC points for $500 in amazon cards. Wouldn’t have got that with just using my bank debit… To each their own though.
Another great video! Just wanted to clarify too that "paying in full" to avoid interest means at the minimum paying the statement balance and at max paying the current or entire balance. As long as you pay either one of those, you will not be charged interest. The one that's better to pay is personal preference imo
I put everything on my one card, pay it off every month, don’t pay interest, and haven’t paid for a hotel or rental car in years.
Credit is a tool. Use a cc to buy essentials and pay it off before your statement each month. Build you available credit and history and leverage it.
I pay off all my cards end of month. I take out new cards for 0% for 14 month offers on big purchases.
Never pay interest.
That's it.
I got an MCI credit intl phone card when I was 14, to call my girlfriend back in the States. Started my credit super early in life, and saved me thousands when I bought first house.(Credit history) Gas card is another option, but avoid department store cards.
Another awesome video Jaspreet!! What you taught in this video are the lessons we've learned the hard way on CC usage and credit score usage. With financial education when you know better you do better and we are definitely doing better. 🤟
PLEASE BRING BACK THE TIME STAMPS !
Thank God I had an economics teacher in primary school that taught classes on how to get loans and manage credit. I wish every kid would be educated this way, and would defiantly reduce pain later in life.
Defiantly
I used credit cards the wrong way in my 20s and early 30s and racked up like 10k in debt. Once I paid it off I swore off credit cards for years until I learned about all the perks and rewards I was missing out in. Now I use them to work for me and never carry a balance.
$150.00 annual fee with 2% cash back. Hummm. So I have to spend over $7,000 a year just to break even.
Nope.
Those Business Credit Cards have no consumer protection on them. There is no legal limit to consumer liability on business use cards. There is a $50 limit on consumer cards. These will vary depending on the issuing bank's policy. When I learned about the no limit of liability I dumped all my business credit cards. The credit card dispute process has become a joke now. I had a fraudulent charge via Ebay and PayPal and my credit card company Citi denied the fraud. I had to spend several extremely frustrating hours on the phone with Ebay and PayPal to determine that the transaction was fraudulent. Someone spent over $100 on UPS shipping to scam me out of about $100 (after fees). I still don't understand it.
I did not get a credit score over 800 until I got a mortgage. Even with nearly the same credit cards and other loans I stayed below 800 until I got a mortgage. I am pretty confident the FICO (and others) score is designed this way.
This kinda thing really needs to be taught before we reach adult years. Its so easy to mess up your credit when you are young. I've finally got mine sorted and in perfect standing. But that took over a decade to do. Better late than never but it would have been far more productive if I was in this position a decade ago rather than now in the middle of a recession and inflation.
Great video! I did the Dave Ramsey thing for years. No credit cards, paid for everything in cash/debit. I have no debt. I have a steady job & good income. I decided I wanted to get a loan and start investing in real estate to build wealth. Except, I didn't have any credit. No credit score. Nothing. I've been overpaying on insurance for years because I had no credit. So, now, I have to start from scratch. I researched and learned how to build a healthy credit profile. I now have 4 credit cards and a couple of credit builder loans from my credit unions to add installment loans to my profile. I use my cards responsibly and pay them down to 1%-3% of my credit limit before my statement date to report low utilization, and then pay my balance to $0 after my statement posts to avoid interest. My profile is still young (less than a year) but my FICO scores are around 750 and I'm working my way up. My only regret is not doing this years ago!
@Romario D I have 840. The second you buy something with a card it's considered "utilized". Just pay it off once. Honestly I pay off my cards every 2 weeks just because I cant stand all those transactions stacking up. I have never not paid off a credit card for 18 years. I put everything on the card and pay it in full. On a side note "Citi double cash" is 2% cash back on everything. Its amazing.
Jaspreet THANK YOU THANK YOU 😊. It has taken me 3 years to learn how to handle credit. A year after paying for my former car I've been getting so many credit card offers that I never imagine. I currently have 3 credit cards which I've learned not to use. I only use it to have some credit to buy a clothes for my acting business and when thr bill comes I pay it in full to have a zero balance. I mainly use my debit cards Most. I LOVE LOVE LOVE your channel You're SO GREAT A TEACHER!! I LOVE LOVE your TEACHING THANK YOU 😊 ♥
SavorOne has been one of my go to Cash Back cards. No annual fee, 3% on all dining, grocery, and entertainment.
So many businesses unexpectedly register as grocery or count as part of entertainment. I've saved buying computers, going to national parks, and even buying medicine due to their MCC.
You’re definitely right about opportunity cost. You don’t want to spend days researching how to make an extra $100.
However, you can have more self destructive hobbies and it can be fun.
There are many quality credit card channels that do most of that research already. Playing the credit cards rewards game can be a fun hobby, especially when you realize it’s possible to take those dream vacations just by using your normal, everyday spending to accrue points/miles & get that trip for essentially free.
@@tcgtpl Same. I just got the Amex Platinum and I am going to Las Vegas this April.
I agree. I like Dave but he scared me to death about using a cc but as my knowledge increased as well as my financial discipline, I now have 2 cc’s that I keep paying off.
He is right for a lot of people, but I’m not going to overspend at the gas station or on my utilities because I have a 5% card.
Getting into the specifics will show exceptions to his plan (reason why it’s called the “baby” steps). They have to stick to a message for those that would abuse it.
@@takeitback-financial2808 Oh I’m well aware that Dave’s advice is for people who are less disciplined when it comes to spending and The Baby Steps will get you there. My point (along with this video) is that there is no One Size Fits All and the sky will not fall because you own a cc-you just have to know your own limitations and be disciplined.
@@amandadean3948 Agreed
Jaspreet never explained where do credit card rewards come from, but Dave did. It comes from people who are not financially disciplined, and is in debt paying the price.
Glad you improved. I used to have none, then two. When I learned I was getting rewards I gradually increased it. Now I have 18 cards.
I have 3 cards.
Amazon for 5% on amazon
Costco for restaurants groceries, and gas 2%
BofA for 3% on a category of my choice. I am on online purchases right now
I pay off my credit cards monthly. It's nice to get paid by the credit card companies with rewards.
This man doing the work to educate me that my Dad, my school, or anyone really, should have done years ago. Thank you so much for putting this content out.
I barely comment on anything on UA-cam, but had to say "Hope you had fun in my country ^-^."
It's crazy how the world interconnects sometimes. You are one of my fav UA-camrs.
Keep building, keep growing, keep sharing.
Yeah Dave's comment when asked what's wrong with cc if you pay it off and he replies, "have you heard about a millionaire that got there with just cc rewards?" As of that answers the question. And I feel he dodges the question because there's not a good answer for the financially smart
Not paying off a card every month is an expensive loan. If you pay you card off every month, you received a 30 day interest free loan. Credit card companies hate that. Companies have discussed possible service charge if loans are paid off every month. I have only owned 2 credit cards my whole life. My Gold AMEX business card and my citi World Elite credit card. Both are paid off every month. I enjoy Admirals clubs in crowded airports. My miles used for hotels and cars as the airline tickets are not that great anymore with frequent flyer miles. A couple of my business friends have $7500 annual fee BLACK CARDS. If your fly alot maybe worth it. Easy credit have made debt easy. Your house and car should be your only credit purchases, monthly payments. I grew up before credit cards. Initially credit cards could not buy food or use at fast food restaurants. Credit cards offer protection, a slim wallet, and digital cash. No more traveler checks. More fraud nowadays. It seems like every 6 months my CCC giving me a different card. Nice to have that security. So easy to dispute charges. So easy to cancel subscriptions. Its nice to change card numbers to prevent a subscription you forgot about.
I use the new Capital One business charge card. It pays 2% back on everything with no cash back limit. It’s awesome. . I do enough monthly business that I’m able to cover the monthly payment on my new 2022 truck just by using my credit card.
Dave Ramsey has some good advice in some areas; however, I would rather listen to influencers that focus on making more money rather than penny pinching. Teach people how to use a credit card, don’t tell them to avoid them.
Just got an Amazon card- as much as we buy makes sense! Thanks Jaspreet. I always get good financial information from you. Love VIO for our savings, M1finance and Fundrise and now I’m with vaulted. Building true wealth and security for the first time ever in our lives! Dave Ramsey has helped me immensely as well paying off all our debt. I agree CC can be useful and I’ve learned delayed gratification now- so it’s not tempting for us to have them.
Awesome. Just make sure to pay off your balance monthly...the interest rate on an Amazon card is outrageous 🤮
How's VIO been going?
Promise kept for over 15 years. I have done this for years. Though not near this many cards. I have a cash back card that pays for Christmas every year.
I love the entire reality he gives. My favorite part is the dose of realism and x out all the perks. I shared this with a lot of friends that don't understand how credit cards are supposed to be used.
Me, I have two credit cards that give cash back rewards. I only use the credit cards when I need to buy items. I don't buy unnecessary items to just to get cash back. I also make sure I pay off the cards every month.
I bet you are a blast to vaca with💜Happy to hear you got away🙌🏼
My favorite credit cards are the Delta Reserve, Hilton Aspire, Wyndham Business, and Business Gold. I've had Spark Cash for nearly 10 years, my oldest and most used card.
Agree it is not worth the time to try and maximize those different groups every 3 months, etc. Etc.
We just use a Citi Double Cash card with 2% cash back for everything.
I just started credit card churning so the timing of this video is perfect! Thanks
I have over 2k balance on a card with 0 interest. By the time interest kicks in then I imagine the balance will be around 5-7k. I will pay it off before that of course. 0 interest cards are good for leverage.
I do the same thing. If you are disciplined enough the 0% promontial rate on a card is a great way to leverage the time-value of money.
Some of the best advice my Dad ever gave me with regards to finances.
I watch your videos which are very informative and learning also. I am from Jamaica hearing of your recent trip. I hope you enjoyed my country
He is right, I pay everything I can on my credit card, and get about 2% back, my card is then paid off in full every month, back to a zero balance, now mind you it's only a maximum of $8000.00 and then I have to use another card, that only gives me back 1.5 %. All my credit cards are on auto-pay for full every month. It amazes me how much the consumer is charged.
I'm now 53 and got my first CC at age 16. I have never NOT paid my monthly balances in full, Ever! I average about $200k+ in CC spending per year over three cards and enjoy the perks. CC are great if you are disciplined about paying off balances in full/month.
And they are a curse for someone who can’t manage their spending
Credit cards are like alcohol (not cigarettes as Uncle Dave says), you are a responsible "drinker." IMO to build credit people should put the recurring utility bills on the cc then pay it (maybe them) off every month like you said.
@@richsamuel2922 Agreed. Gas is a another one when getting started. I’m not bringing extra fuel tanks because my card gets me 5% back.
Thanks for visiting my country Jaspreet!
Jaspreet I just found you channel this week and I have been binge washing since Monday. Thank you so much for all the useful information. I appreciate your time and kindness. 💜
I am retired, so no debt. Still amazing how your credit score changes eventhough you do not need credit. My card is paid off completely every month but the 25% or more use of credit must affect the score, 790-850.
The best credit-card explanation out there so far....
Use the credit, don't let the credit use you !
I’ve never understood Dave Ramsay’s approach on credit cards. If you’re zero dollar budgeting like he advocates, you’re on top of your spending and there’s no risk of going into debt so why turn away the free cash back? I use a credit card for 95% of my purchases and haven’t paid a penny in interest in over a decade.
Dave Ramsey is good for financial alcoholics who go into debt to buy expensive toys.
Do cash back make you rich? Nope.
Yes bossy you come visit yard, mi love that you come see how Jamaica nice land of wood and water..smile hope in my Jamaican voice.
I am learning so much from you- thank you.
I hate debt
REEEEAAALLYYY! you were in jamaica!
Thast Awesome! I'm from Jamaica.
There are so many better cards than what you said. The fidelity and Citibank double cash both pay 2 percent on everything with no annual fees. The usbank visa signature card has 5 percent categories that you get to choose. One of the categories is utilities, which is very useful to pay heating, water, electricity.
You're definitely right if you only care about the cashback but some cards have other benefits like transferring points to particular airline partners that you like or value multipliers while redeeming for certain product types that makes the effective value much higher than 2%. A lot more than the base cash back percent goes into deciding if a card is "better" for you.
@@kappakumplete I am just curious of his choice of the chase freedom unlimited as a cash back card when there are multiple 2 percent cards out there.
I appreciate your respect for Dave Ramsey and all he has done. Also I appreciate the middle view on credit cards.
You are a big help you helping lots of people financially thank you 🙏
C - 1 sent me two offers recently for a credit card at 26.99% interest. What a joke considering my credit score is 735.
Why would you care what the interest rate is? Don't carry a balance and it doesn't matter
I pay my credit card like cash. As soon as I make the purchase I go straight to the app and pay it off. Immediately! Sometimes I will place money over the balance in order to cover groceries, gas, etc.
Loved this video. Thanks, Jaspreet!
What’s the point of that is not getting reported to the bureau… it should be kept till your bill is generated and minimum amount shown and then you pay the full balance in FULL before the due date
@@Haze508
If somebody already has excellent credit, there's no need to let it get reported, just rack up points. That would be the only teason to pay off balances immediately. But if you're trying to build your credit, one should follow your advice. 👍
I think the best credit cards are the hotel cards that give you one free night a year because they charge a fee that is less than the cost of that free night plus you you get upgrades
i use just one credit card paying for my regular expenses (necessary things, what I need, not what I want) to make extra money. Pay off every months. get two precents cash back. Once in awhile I check...I have a couple hundred dollars extra in my account.
@minority mindset I was never taught about credit cards when I was young. I was taught credit cards were bad and only cash was good. Well guess what? One day when I wanted to buy a car I was told I had poor credit!
Since then I’ve learned how to use cards the right way and now see it as getting a discount on EVERYTHING! I’ve been using the Chase system for years and not only has my credit score skyrocketed, I’ve never paid for a plane ticket since!
Isn't it more of a failing of the American credit valuation system that they require you to have a credit card to validate your credit? Someone with a lot debt gets a better credit score than someone who is financially stable, but has no credit card. The system is broken.
@@DarrellSluis you are missing the whole point. You are not getting cards to accumulate debt. If that’s what you are doing then you are making a big mistake. Credit cards are just a tool. It’s whether or not you choose to use it properly.
It’s like saying all cars are bad because they kill people. However we know that’s not true. Many times it’s just driver error that causes the accidents. Same thing with credit cards. It’s up to the card holder to use it responsibly and pay it off in full on time.
Dave Ramsey is the reason why I’m out of $120k debt hole. However I didn’t take his advise to close my credit cards. I needed it but my house. All four of my credit cards are at 0 balance with $35k credit limit.
Theres nothing wrong with using a credit card when you pay off your balance every month.
Its one of the tools you can use if you know how to manage your spending but if you are financially iresponsible then the credit card is not the problem. Its you!
a good option for people who don't have the self control is getting a secured credit card. They have to leave a deposit that matches the size of their credit limit and that will make sure they never go into debt. If they can't pay the bill their deposit will cover it
Yardman here....how was the visit to my home. Respect my brother.
Man that capital one card is terrible man. You can get the AMEX 2% cash back buisness card and pay no annual fee
I knew I saw you in Jamaica I hope you enjoyed your stay. Big fan
I use mine occasionally and pay it off every month.
Hope you had a good time in Jamaica Jaspreet! Hope Nate didn't burn down the place while you were gone! 🔥
Holy shit an 84k credit limit? I thought they generally capped at about 50k unless you were a billionaire with an amex black or some other crazy circumstance.
Surprised not using Citi Double Cash for 2% on everything
Credit cards have caused inflation. They charge the companies you use it at for using them, the companies then have to raise the amount they charge to cover it. You could avoid using credit cards, but you will just be paying more than other people who use credit cards and get cash back rewards. (always pay your credit cards off at the end of the month, if you can't , don't spend the money)
Yep. Wonder if that would change some peoples opinions if they looked at it as an additional charge for cash rather than a discount for credit card?
Cash is safer than debit. You can still overdraw at the bank with a debit card, since transactions all go through at different times. Overdraw fees at the bank can be absolutely devastating. I had a bank take my entire paycheck years ago, forcing me to have to pull money out of my Roth IRA, taking an even bigger loss. Everybody should have plenty of money in savings and overdraft protection turned on. It feels great knowing that if I screw up, the money will simply come out of my savings now.
The original title for Scream was Scary Movie.
My work has me travel. I was Dave Ramsey style, until realizing how many rewards I was missing out on.
If you pay off the balance in full every month it can work against you. A better method is to pay off all but $10. This way, the credit card company reports you to all credit bureaus as a good credit risk and they report that you paid more than the minimum payment and that you paid on time. This method raises your credit score. If you use the pay it off in full method then the credit card company does not report to the credit bureau and it does not improve your credit score. I increased my score from 715 to 820 in 3 months with this method.
I also have a Costco card, chase freedom, and freedom unlimited. Those are the only ones I use. I get good cash back and always pay every month
Hey Jaspreet, can you zoom in a little closer to your Cap1 and Chase card? I'm trying to see something.
😂😂😂
Credit Card debt helped me build a 760 credit score. I'm using 3 at the present time, all 0% interest. Winning. My Sam's Club card pays 5% back on gas anywhere. ⛽️
Im not what you call a card hacker but I do maximize the way I use the 5 cards I have usually getting 3x-7x back. not to mention all the credits protections and free hotel stays.
J is correct! We use credit cards and they are convenient. We carry NO balance (pay no interest) and fly for free (Southwest Card) for years and we leverage mortgage money to make money. Manage your resources kids! (We also buy our cars cash.) Financial management is NOT calculus, it is 4th. grade arithmetic.
Chase Freedom Unlimited is one of the best credit cards I have ever had. I pay it off every month and in on year time I have already accumulated $640 in cash back. While it isn't much, who wouldn't want $600/year for buying what you were going to anyway?
That’s awesome!
Hey Jaspeet, you forgot to list the advantage of getting 0% interest over a period of 15 months that most cards are offering. Granted, this will only benefit the savvy credit card user whom are discipline enough to handle purchases as well as make pay-offs before the end of the promotional period...still a benefit if you ask me??
I feel untrusted. I looked real close and Jaspreet covered his credit card numbers with painters tape! Very smart.
I make money using my Costco credit card. I made $800 last year.
Then I take cash back and put it to my ETF purchases
you are the shit...so well put together
Dave Ramseys approach is strictly for the financially irresponsible. I haven’t paid interest in years. Got about 1100 in points that I’m saving for a trip.used my gold card to Pay for an amazing trip last year. Used my Apple Card to get my lady a much needed new phone interest free. Credit cards are an amazing tool if you don’t pay interest and don’t use it with a hazardous mindset that you have money that you really don’t have.
I have a fairly important question? For the prepaid credit cards, say you put however much a month on it each month...does the money put into it evaporate after some time or does it stay there indefinitely?
Depends on the card. Many will have “inactivity fees”. Would need to read the terms and conditions.
I think he was referring to a secured credit card, which is a credit card that you put down a deposit as "security" for the bank to eliminate their risk of you possibly not paying your bill. Your deposit amount is typically your credit limit (ex. $200 deposit gives you a $200 limit, or $500 deposit gives you a $500 credit limit). Sometimes, a card issuer may approve you for more than your deposit (ex. You put down $49 deposit and they give you a $200 credit limit). The bank may also increase your credit limit more than your deposit amount after a few months of responsible use. It's usually a one-time deposit, not monthly. But, you do have to pay your credit card bill monthly, like any other credit card.
Depending on the card issuer, a secured card can graduate to an unsecured card (regular credit card) after several months of responsible use, at which point you would get your deposit back and possibly an increase in your credit limit. It's important to do your research and make sure you choose a secured card with the potential to graduate. Not all do. Some stay secured cards forever and you have to close the card to get your deposit back. I hear that Capital One secured cards don't graduate anymore. But, the Discover It secured card can graduate after 8 months of responsible use, AND you can get cash back rewards on it (definitely recommend!). Credit unions are also worth looking into. Also, remember that even though a secured card CAN graduate does not guarantee that it will.
If a credit card company has a pre-approval tool to see if you might be approved without affecting your credit, I would try that first to see what you might be approved for. I would also try to apply for an unsecured card first, because you may be surprised and get approved. If not, you can apply for the secured card and start from there. A secured card is a great way to start building your credit!
I would so use all of this if it was possible where I live. You are lucky. We have CCs that give 0.3% cash back, at BEST. The US credit card system has SO MANY opportunities the rest of the world can't reach.
Take advantage and be greatful.
How long (or how short) should I wait to pay off my credit card?
Example: I make a purchase on a Chase card. It shows up instantly on my credit account. Should I pay it off immediately, to keep a $0 balance, or hold off until the end of the month and pay the entire balance off with one lump sum payment?
You have that choice it’s up to you. Just pay it before your bill in date so you avoid interest.
I ALWAYS pay it off immediately and my credit score is 840-850ish I just hate the fact that I know I carry a balance. IMO just pay it off as soon as it clears.
Consider paying it off any time before the statement/ close date and also by the due date. This way you aren't paying interest
The best approach is probably somewhere in the middle. A large portion of your FICO score is based on what's known as your credit utilization ratio, which is your outstanding credit card debt as a percentage of your total available credit balance. If you're always paying off transactions immediately and never letting them make it to the end of the billing cycle, you're not allowing the bank to send a dollar value to the credit bureaus when your statement cuts because your balance when the cycle ends is always zero. Paying the big stuff off immediately is fine but I recommend letting a small balance stay until the statement cuts and then pay it in full. That way, a small balance is sent to the credit bureaus and your utilization ratio will probably be around 1-3% which is actually better for driving up your FICO score than it always being 0%. There's also no interest accrued with this approach.
Remember that utilization ratio is a percentage, and isn't really about the actual dollar amount of debt. Two people can have the exact same amount of debt but their utilization ratios are very different. For example, if you and I both have a $1k outstanding balance but your credit limit is $2k and mine is $10k, you're 50% utilized but I'm only 10% utilized. Make sure to only let enough post to your credit card that will keep you under 10% utilization ratio and your FICO score will likely increase steadily over time. Obviously just be sure to pay the bill on time.
Make sure to pay it on or before your bill date & if u need a little bit more time to pay the full balance find out your reporting date by calling customer service so you can pay it the day before it reports
I have learned that you can’t use credit cards to get out of debt.
That isn't what credit cards are for. Why would you have any expectation or credit cards helping you get out of debt?
Credit cards are about convenience, safety and cash back
Great video! Don't have any credit cards and never will. This just works out best for me.
4:54 I SWEAR HE popped that card out of his beard..lol thanks for the daily content
I am getting 5 percent cash back going to Chevron and Texaco gas on chase for the next few days. So gas cans and two cars will be getting that. It is easy money to get
I am a Jamaican. I always wanted to meet you
They are not giving you anything.
The cash back is coming from the amount the credit card company charges merchants for each transaction.
The perks you get are nothing compared to the perks the credit card company gets from YOU.
Nothing wrong with using a credit card……..but what many don’t realize is you are spending more with credit card…….because it’s easier.
@@tomdrummy4984 that may apply to you but not to me. I spend exactly what I want to spend
I just paid off a debt and my credit score went down 75 points.. Why is that? And what can I do?
Excellent video.
Thanks for the advice I was just asking my sister about advice for a new credit card for traveling etc. i know I’ve been getting cash back with Amazon as well
I should credit card for everything, than I pay the balance every month, with the rewards i get a free vacation every year. So far got 10+ hilton hotel nights saved up, and a free plane ticket for this year
What is very annoying is frickin credit karma. You charge say 500 and pay it off when due but they ding you 20 something points! Pay it off but it doesn't go down like it went up. Whats up with that?
Which cc is doing this?
@@Dulce-cm2kx capital one quicksilver, very quick to to let CK know. Never late, always pay off???
Love your channel. Your great 👍🏽