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📛CREDIT CARD: Pros & Cons | Money-Minded Mandeep
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- Опубліковано 5 сер 2024
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Having a credit card may seem very useful at the forefront but in actuality, it may be robbing you of creating wealth for your future. Learn the advantages and disadvantages of having and using a credit card.
Read about this in English: labourlawadvisor.in/blog/cred...
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Chapters:
00:00 Intro
00:59 Advantages of credit card
01:05 Internet purchase discounts
01:30 Rewards program
01:50 Employee benefits
02:30 Transaction records
03:05 Secure purchase
03:37 Insurance
04:04 Convenience
04:21 Disadvantages of credit card
04:25 High-interest rate
06:41 Credit score
07:25 Fees and fines
08:14 Terms & conditions
09:22 Minimum payment
11:03 Not used for investments
12:40 Spend more than you earn
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#FinancialAdvice #CreditsCard #CreditCardInterest
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A: High security registration plate
Agar main six month tak
Use nahin karo to kya nuksan hoga....
I am Bhaskar Biswas From SBI credit card..
Contact number 7003007848
Seriously dude, you really don't know about credit card.
Sir ham credit card ka paisa share market me lga sakte h kya koe illegal to nhi h kuch
I'm using CC from last 4 years. .
Never paid late fees.
Used within 30% of my credit limit. Saved a lot on online purchasing.
Credit score 750+
CC is a helping hand if you fulfill your need only.
@Django Unchained how much processing fee and yearly charges ??
i dont know who but one of the billionaire said that he never used his money to do the purchases he always use credit cards that means bank money to do the purchases... his basic idea was why should you spent your money if someone is giving you to spent there money and the plus point is you can return the money without any interest.
@@Shivam0217 frank abignale i think
Please tell me what is this cc
@@somethingtolearn9775 CC means credit card
Using CC since 21 Years of age, only thing I have ensured is to pay 100% every time. And use less than 50% of salary.
This is the mistake I done🥺
exactly. always pay dues before time to ensure good cibil score. and don't overspend than you can pay. I have seen many youtubers against the use of credit cards... but its all about how you use it.
30 percentage.
@@akshatdalmia8274 correct
Ab kitni umar h?
Mere bahut self control hai.. 100 rupye ki chiz lene me 3month search krta hu tb leta hu😂😂😂
Wah Vai
Wow bro
Are bhai me bhi Jaiswal😊😂
Bhai isse control nahi maha kanjoosi kehte hai😂😂😂
Makkhi ...sssss
भाई साहब आपने बहुत ही अच्छा बताया शायद ही कोई यूट्यूब पर ऐसा बताता है आपको तहे दिल से धन्यवाद आपका वीडियो
It depends on person to person how you manage your expenditure. I have been using cc since 2016 and never feel it is bad to use
Credit card is just like true friend in need. Use wisely and live happily.
@Raunak Dubey tu garreeb Kya halla Kar Raha hai.. Sach he you bola usne.
Do you "use" your friends?
I only purchase items using credit card for which I have balance in my bank account. So at the end, I earn the reward points and benefits and pay the outstanding bill immediately and some times even before bill generation
Pay only after bill generation though, cause otherwise it doesn't reflect on your credit report and you don't get the benefit of using credit cards!
CC is best if you are disciplined, used for NURTURE CIBIL SCORE...
Agree with most your points.
But if u use your card maintaining ur payments within due dates,it's very useful.
Control on ur expenses is the basic.
I am using CC from last 21 years. Following my friend's advise and never missed any payment even though couple of time it has gone beyond 6 figure. No interest or penalty paid till date. I know they keep calling for personal loans. My friend told them - I use CC only for convenience ( no need to carry cash), if I need personal loan, I will approach my bank, not the CC company. Following same - use it only for convenience.
Then Sir For Loan(if Required ) you will get a Personal Loan with minimum 10.25 ROI , but in credit card the ROI is 14-15(REDUCING ROI) approx 8-9 % as Fixed Rate of Loan.
Also if I have to close the loan Personal Loan can be closed after 12 months but in Credit Card Loan I can close it whenever I wish to.
Also Forclosure Fee of Personal Loan is 5% + GST on an average for 90 percentage of banks but CC Loan if gets closed before tenure the foreclosure fee is maximum 3 % as per RBI Norms.
Think before taking loan banks are not sitting there to give you money , they are sitting to give you their money to get your money.
I am using hdfc card with 2 lac limit from last 2.5 year but I never paid single rupee till now.. even I have earn rewards from it...this depends on our self control...
Can you suggest me where i can use credit card for best out of it?
Had CC at early years when started working but didn't know all pros and cons... Had a difficult situations later for it
Credit card is only for limited usage.. use for basic needs & pay the bill on time then I don't think there is any drawback of using credit card..
Sorry to say ....i have 12 CC along with one slice card. No problem so far.
Fire ,water, wind all these can hit badly our human life but if you know how to use it then these can help you to cook food, production of corps, production of electricity, and many more.
So use CC wisely, it will help you surely.
Everybody cannot be you?
True...
True yr, I'm facing problems with credit card... 🤦♂️
You are doing osm work mandeep bro
In case of emergency nobody helps,where cc can help you.It's totally on your discipline.Yet you can convert your expenses in EMI.You will charge around 15%PA. It's Money power in today's world,which gives you Shanti.
Thanks for sharing the info, now understood the whole funda within a short time..its time-efficient .
Using credit card since last 5years. Paid the dues on time. Utilised my savings money from account for investment. Now, I've developed a good portfolio of investments
Mandeep,
You said mostly correct.
I own a Credit Card DSA and have been making Credit Card for many customers. What I have found out that there is a severe lack of correct information and education on this aspect.
I educate my customers on this aspect but still not everyone does.
Jo Positive comments Kar rahe credit card ke bare mein yeh pakka Credit Card Sale officers 😆😆
👇👇
Sahi kaha, I won't be touching this bawasir AKA CC chahe yeh CC salesmen kitni bhi kahaniyaan suna lein 😊😊
Answer is A: High Security Registration Plate
Interesting take on things.. in my opinion a person with less self control can opt for reducing the credit limit on the card to up to 50% of the monthly income to ensure that payments can be made in full regularly without attracting interest. Also, the advantages mentioned seemed like disadvantages in disguise.
Answer is( A )sir High security registration plate
Most important rule use cc only for needs not wants which you can afford to pay in full on due date.
Very analytical video. Total informative video. Many many thanks......
Very nice video and indeed an eye opener to the credit card holders. Kudos. 👏👌👍
Greatly explained this topic, but can you explain how to close certain credit card, because this procedure is really complicated for a user. As bank do not respond to our card closing request nor there is any customers support help for this procedure. What could be better option?
thanks so much for the info sir :)
If you have self control then its a boon... especially if you do a lot of online shopping.
Now-a-days, we can buy all our household stuff online and at a discounted price when using a credit card. These discounts make using Credit Cards worthwhile.
BUT, if you dont have self-control and start spending excessively on stuff you want but dont actually need or if you don't pay the bills on time then yep, you are in for a painfull expensive lesson.
I, for one, have never missed my bill payments and have always payed them in full. With these additional Credit Card specific discounts I save around 15-20k every year.
And all this is without even mentioning the benefit of No-Cost EMIs.
Just a reminder, check the fees very carefully before applying for one.
very well explained in details loved it bro !!!!!!!!!! keep the osome work doing
Thank you for this fantastic and valuable information!
An advantage of Credit Card is that it is a very handy tool for use in case of international purchases because of its advanced security, or for use in some emergency situations like immediate hospital admission. However, one has to make sure that he/she can repay the transaction amount within the stipulated interest free time period. For everything else a debit card would be more than adequate.
Best video ever on credit card....hats off to you man !! Just once the girl was watching from outside the window was where i got distracted but overall it was a fabulous presentation
Very good video, I liked it so much..
Such realistic info ❤️❤️ can't believe banks haven't paid Google to block this video.. 🤣🤣 Honestly very Good video.. 👏🏻👏🏻
A: High security registration plate
Nice Video.. very informative especially the insurance and returns part.
This is a very good and informative information in relation to credit cards. It depends on the person to person use. Marvelous and great information about credit cards.
Good information for young generation I am in 20 years old
Awesome. Very well explained. 👍
all the disadvantages you mentioned are after default in repayment.
Credit Card के फायदे और कैसे सही उपयोग करें
ua-cam.com/video/BA-T8Tazl8U/v-deo.html
Just look at numbers
Great thanks for uploading this video
Keep uploading similar videos
CC is best if u use it for emergency purpose.. like insurance and utility bills and kept soft cash separately to pay off liab in next month
bass credit card ka poora outstandng time pe bharo ..... fir credit card is very good thing
ITs depend person to person - credit card is very beneficial for me , i got monthly 500 book my show movie coupen , for it i have to spend Rs 5000 every month by card . i used for petrol, mobile recharge , electricity bill , house grocery .
Which card?
@@kanishkgiri6429 RBL Fun Card
For petrol, don't we have to pay extra (fuel surcharge) ?
@@faizanphysio fuel surcharge will reverse in card statement
Very good explanation.. thank you...
Thank you so much for the knowledge great bro
👌👌👌👌👌
Bahut khoob bro... Aankhein khol dein aapne
Very useful video for me . Thank you sir.👍
Last advice is superbbbb 💯 ✅
My parents also suggested me but I didn't believe but now as you told its really thinkable !
A: high security registration plate
Every disadvantage of credit card has an if. If you pay your bills on time and you have self control then there is no harm in using credit cards.
Fact is those who can't manage and handle credit card can never manage their cash and savings.
Thanks for the Information sir
Ohh man you nailed it 🥵🥵What a video on this imp issue🔥🔥🙏
D: high security number plate.
Thank yu sir
Explain for credit card
I was using credit card alot few years back and everytime i pay about 70-80% of bill amount. And it kept going on till i stopped using it. It makes us spend more without noticing it. I don't use credit card for any transaction unless necessary and make sure to pay it off before due date or even before bill generate.
Very good sir your advice is very important for us thanks for everything
Thank u so much sir!
Your videos are truly knowledgeable !
Salute to the efforts 🎉
Credit Card के फायदे और कैसे सही उपयोग करें
ua-cam.com/video/BA-T8Tazl8U/v-deo.html
Thank you ache suggestion ke liye.. 🙂
Realy nice advice for credit card thank you so much
Superb 👌
Thanks sirji 🌹
Thank you so much for this knowledgeable video
Sir you really explained well about the pros and cons of credit card ... and yes cons could be dangerous if is not handle by care...
But in todays time when you purchase something from a website like i purchases courses for study online so they usually accepts payment only through debit or credicard.. many websites...
And i think credit card is more better then debit card because if you want to purchase a thing for which you have not the sufficient amount to pay then credit card could become handy ..
Also it helps to maintain a sufficient balance in your account ... means if you use debit card then your bank balance will be reduce but when you use credit card your bank balance do not reduce only you become liable to pay .. i think you are able to get a prospective which i want to describe because i cannot describe every human prospect or nature by writing ....
So it can be very useful when someone uses it for specific purpose only and also can easily pay after a specific period ... also is aware of terms and conditions for security ... so for a wise man .. a credit card is a good option ..
Thus your video is wrong that credit card should be voidable.. they can be use efficiently if they are handle by care... and it should be okay to pay some small payment for card like you mention that they charge some money for issuing card aur etc.. so it is okay man they are giving you a loan and i you pay under min o 40 days then no intt is payable .. so it should be okay to pay small small amount which they charge as you mention other like paying of debt...
Thank u 😂
Bhai yaha par account me 1000rupaye nahi hote account me after first week( excluding some money saved for emergency and some for daily basis need for upto next 30 days usage ) to to kya guarantee hai ki Mai regularly bhar paoonga paise agle mahine to mere liye debit card hi sahi hai
Love you bro. Thanks for your knowledge sharing
Thanks A Lot Sir..Bohot A66a Video Hai👍
Thanks good information sir
Credit card company's are very intelligent to trapped you in their cycle..no matter who you are..🤣🤣🤣🤣
i ve never missed paying cc bill on time .
how exactly am i at loss becos of it??
@@sonamdeshpande7281 exactly , just pay the entire bill before due date , and if u have a lifelong free credit card then customer always in benefit .
only con is if u have a say 499 or 999 amc card then just buy using that card to set it off using reward point
We required more videos on this from youtubers to spread awareness.. yes credit card companies are trapping "less Knowledgeable" peoples but some ppls r using this too visely..
Valuable information. Thanks
Thanx very much bro for this vital information about credit cards..
Thank helpful I don't used credit card
Thanks, Dear Brother for this informations.
Well briefed. Thanks
HSRP means High-security registration plate (option 'A' )
Be sincere in paying full amount without paying extra rupee to bank. Be disciplined and should use within the limit , no need to fear . It's a fantastic if you are a wiser user. Make full payment Everytime to avoid late fee and interest charges etc.
Can we use credit card to invest in stock markets?
Sir apake samajhane ka tarika is best.......h
Thank you sir
It is the human nature and economics behind which explains that human needs are never settled at any point, the moment people get Credit card it just blows their minds up and their salary too, of which the CC companies take advantage..😇
Yeah Supply of money creates demand. CC is an hypnotizing tool and one who understand this can hypnotize banks.
Credit card is very usefull in emergency situations. I in travel industry make maximum use os credit card but But clear it before they charge you interest.
Hello Suraj here from SBI CARD
Mei ek sales executive .
kisiko bhi kuch jana ho kisi bhi credit card ke bare mai mujhe call kare 9892842478/6389692127
Also I have authority for issuing any bank (specially SBI) of credit card on salary card against card and ITR
@@surajdharmnathgaund3314 agar credit card ka bill due date de pahle (45 days)pay kiya gaya to interest
Nahi padta qua?
2.online shopping ke credit card jyada safe hai ya dabit card?
@@satishsaraf589 pay your bill before due date and enjoy, don't even think about 45 - 50 days. It's safe online too. Only you could make it vulnerable.. be smart, play safe.
@@surajdharmnathgaund3314 g. mijhe crdit kard band karwna hai kyse karu
Very nice and realistic approach 👍👍
I just received my credit card while watching this video, thanks for the valuable information
Using credit card wisely is better than not using it at all. Always pay full credit card bill on time and enjoy the rewards.
Credit card is mostly advantageous , only condition is you must pay the bill in full before due date.
Superb video boss 👌👌👌👌👌👌 excellent explanation 🙏🙏🙏🙏🙏
(A) : HSRP - High Security Registration Plate.
*Most Useful videos creditcard I like👍*
Hello Mandeep
I am having an issue. I have an SBI credit card. Now I want to close it but Bank is asking me to pay a renewal fee of 7k as the bill has already generated. I asked them to close it but they say that the bill has already been generated and I need to pay.
Please advise.
Very informative video bro, I had made a mistake to sign credit card documents by SBI today but still I hadn't verified & submitted my details to bank ,but they had made me sign documents....So I m planning to abort credit card process today....Thanks for valuable info👍
Bhai esa mere saath aaj hua hai 😢
Valuable information 👌
Sir,
May I know do you use credit card if yes which bank ?
In future, I may take home loan or any other loan. Do I need to buy credit card, to get good credit score?
(A)- High security number plate
Credit card is necessary for emergency.... Just like hospital payment..
🙂 same thing bro
Never. Get a health insurance.
Can we pay our credit card payment through other Sbi credit card..? Without any fees..?
Yes bro mujhme self control hai bhai last 1 year se Kotak bank ka credit card use karraha hai aur every month only 200 to 500 RS use karte hai
Thank you dear. Now I've decided not to get a credit issued. Dobara shukriya bhai
A : High Security Registration Plate
Best Explanation 👏👏👏👏👏