Reality Of Credit Cards
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- Опубліковано 27 лип 2022
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In today’s era, be it credit cards or debit cards, plastic money is mainstream. Over time, Credit Card has become one of the most used and preferred modes of transaction for hundreds of thousands of customer for their needs. What makes it a preferred mode, is the buy now and pay later scheme, Ease of use, EMI facility or rewards and bonus. Who really pays for these facilities?
Do these facilities come at “no cost” or are we paying for it without knowing much? Let's discuss the in and out of credit cards, how they work, the backend, the charges involved and all the hidden charges.
0.00 - 00:41 Introduction
0:41 - 02:37 Credit Card
02:37 - 03:15 Credit card cycle
03:15 - 05:41 Network Company
05:41 - 08:10 How do network companies and banks earn
08:10 - 09:22 Knowledge Partner
09:22 - 10:50 How issuer bank earns
10:50 - 13:04 How no-cost EMI works
13:04 - 15:21 How we should use a credit card
15:21 - 18:00 How to Use Credit Card
18:00 - 18:144 Knowledge Partner
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Ok
👉मनी क्लब एक ऐसा ऐप है जहां सब कुछ बस एक एंड्रॉएंड्रॉइड फोन से बचत, निवेश और उधार कर सकते हैं अपने
घर पर बैठे बैठे।
मनी क्लब में जुड़ने के लिए आपको हर रात 8:30 से 9:30 अपने ऐप पर आधे घंटे के लिए एक्टिव हो ना हो गा
जहां पर 15 मिनट के लिए बोली लगेगी और जो भी सदस्य विजेता होगा उसे अपना प्रॉफिट घटा कर पेमेंट करना होगा ।
Thanks❤❤ God help
Maina to 6mnth s bhi jada jhoot bol k logo ko credit card dia h🤣🤣🤣🤣
Kafi logo ki jindagi barbad ki h matlab maina
@himanshu badole mai batata hu
Nitish Bhai is a brother we need in our life 🙏
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Bhai Ye GST ka kya funda he me apna statement check nahi karta hu.... Kya ye har Transaction like Paying on Amazon, Flipkart, Jiomart, Card swipe in Hospitals, merchant/department store , Electricity bill, Recharge, LPG booking, Credit card bill payment pe Lagta he
Note - I pay all my dues on time not only minimum due amount... & never use emi option / Cash withdrawal or flexi pay...
Bro Credit card me OTP kyu nhi aata hai
Credit Cards पर Dhruv Rathee ने तो ऐसे बताया है जैसे ये होना ही चाहिए और आपके कहने का मतलब है ये लेना ही नहीं चाहिए।
Mehnat karni sikho nitesh bai kitna sikhte ha fir agge bta te ha bai
“A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain.” - Robert Frost
pearls of wisdom👍
Credit Cards पर Dhruv Rathee ने तो ऐसे बताया है जैसे ये होना ही चाहिए और आपके कहने का मतलब है ये लेना ही नहीं चाहिए।
@@user-xj3fu6du4n ji nahi. Credit card ko sahi tarike se istemaal kiya jaye to ye bahut achi chiz hai. Responsibility is the key
@@user-xj3fu6du4n जब तुम्हारे पास पैसा रहेगा तो उधार (credit ) क्यों लोगे ?
और जब पैसे है नही, और तुम उधार ले रहे हो तो उसको वापस करने के लिए पैसा (जो कि तुम्हारे पास है नही) कैसे वापस करोगे ?
@@maybepoet8148 bhai paap mt kro credit Krna galat hain
This man is a legend and everyone watching this entire video should bow down to him... He explained everything which no one ever explained to me ... I have been using credit cards since last 6 years and have seen this no cost emi crap taking gst on interest but this man explained in layman term..❤
Hats off.. the clarity of thoughts in presenting the reality is amazing... Great work...
Two quotes came to my mind after watching this..
1. "If you buy things you don't need soon you will have to sell things you need."
2. "When something is for free always remember you are the product."
Heads off to u. U r very true
really wise
Damn!!
True
👍
awareness!! awareness!! awareness !!
Here's heroic entry of Nitish sir .
Thank you sir . It's informative helpful.
He isn't hero if he is hero so he would never advertise stock application in his video
@@Yj17683 Bhai uski v jindagi h kuch ....khana peena (water cold drink 😂) usey v h...
@@anshuraj5459 there are only 2 channel who care about their audience and doesn't promote the harmful products. Salil Jamdar and fit tuber, remaining all channels are blindly wants to earn money without caring about audience
@@Yj17683 yaa it is ryt...
@@Yj17683 bhai tu bhi karle
Thank you brother. Fantastic explanation and delivered the facts practically. Hatsoff u
Very knowledable video, Thanks For knowledge❤
Nitish bhai is like senior citizen of every home, who gives the best advice in simplest words and straightforward
But not in ever family are wise or give best advice every time. Sometimes they are like a piece of damn SHIT!
Using Credit Card From Last 6 Years. Never Missed Any Payment💯 & Saved Very Much. It is Very useful if u use it wisely 🙂
True
Pakka bank wala hoga chutiya
Very true
Very true and I don't understand his interpretation of no cost emi...looks like this person is laking knowledge...
@@MrDimah123 what he said were facts . Even he said at the end that credit cards are good if you use them correctly but no cost EMIs are actually a scam
You explained banking and transaction processing so well...Good job ...
Some additional insights - all interests charged by Credit Cards are compound interest, applied monthly. So, if credit card charges 3% per month, it’s ~42.58% per year and not 36% per year.
Always ask for “annual effective rate” whenever you take any loan or credit card.
Pro tip : If your buying habits are not good and you tend to do a lot of online shopping , Don't own a credit card.
Or trying earning more to support your lifestyle.
Banks spend millions of dollars to analyze and create strategic approach for you to have a credit card.
There is no individual on this earth that can only use credit card for good habits beside even if you do, you’re still paying the transaction fee, which is not visible. Since they charge vendor. And vendors increase their merchandise prices to cover that.
Cash is the best way. If everyone switches to cash, then vendors will stop installing machines that takes cashless payments. That’s how Visa and MasterCard loses.
@@ranveerjaipuriyar0710very bad advice, even extremely rich people go bankrupt cause of their bad spending habits
I have subscribed your channel bhaiya because of your in depth and unbiased analysis
Me also ♥️
Few things which have changed since:
1. There are UPI credit cards which allow wallet recharges, etc. free
2. On default, on certain occasions the default is waived off or settled at a lower amount which makes credit card payment a last and not 1st option. This comes at the cost of the cibil rating i guess
Amazing you cleared all my doubts ❤❤
One day a bank guy offer my father credit cards and simply said him that "dekh bhai hamko Mere father Bachpan se bole hai udahr deker Saman nahi lene ke liye bhale hi Saman 5 day baad le ye 5 mahina baad tab lenge jab paisa hoga pass me".....and today I came to know that my father did the right things
Same here 😀
Elder knowledge
This man is real hero to open everyone's eyes. You nailed it man. Hat's off! Stay blessed always.
Credit Cards पर Dhruv Rathee ने तो ऐसे बताया है जैसे ये होना ही चाहिए और आपके कहने का मतलब है ये लेना ही नहीं चाहिए।
Pure knowledge, really loved the video!
Thanks for such a useful video
I have worked in credit card for 2 months i can tell you most mistakes people do is
1. Not paying before due date
2. Cash withdrawals using cc
3. Not knowing benefits and other annual charges since most employee misinforms customers
4. Not Redeeming rewards points before the validity ends
Most cc charges are applied on daily basis
Most people misuse credit cards. Banks shouldn’t be blamed for it.
Last point is very much true , i hv heard but can't get it. I'm using CC since 2019 & cs is 800+
@@tapankumar1668 banks r looting peoples money with 60 % to 100% interest every year + many other charges and penaltyb - actallly it is compound interest
interest rate should not be more than 18% honestly speaking
All credit Card company are fraud
exactly... i have been working in credit card retention. so I totally agreed with you 👍
Things schools don't teach are always the ones you're gonna need the most.
Syllabus & teachers hi bakwas he India me Kya kare... Syllabus should be of global standard obviously with Touch of India & little bit of State also. One Nation One Syllabus will help students.
@@Honesty361 _one syllabus one nation_
You don't know first thing about children and their development. Just because you were once an student that doesn't mean you know everything.
Thanks for the information
Thx brother for this video
Nobody should use credit card ..They charge interest monthly in the name of Minimum amount
It depends from person to person...... I don't use it for unnecessary purchases...... At the end of month, I get a cashback of rs. 1000+ ...so.. yeah... it's working pretty well for me...
Not A universal Statement, I have never paid a penny since 1.5 year
Good then, I will use credit card by linking it on UPI soon
@@salman55855 how you get cashback of 1000
@@upendra6916 use amazon pay icici credit card one of the best card...
I have been using credit cards since 2017 . In first year I paid lot of interest to bank.
But from 2018 i have been using same credit cards very carefully and asking bank for offers and more and more rewards.
I am trying to compensate my losses of first year. So use credit cards very very carefully.
Bhai aapne to mera sara concept & confusion door kr diya aor sath hi bahut si important chije btayi... Thank you so much brother 🙏🙏 I subscribed your channel now😊
Informative video thanks sir
I don't know why but this is happening with me for the second time that the topic that was in my head for about last two days, nitish made the video about that only
1. Network marketing
2. Credit card
Plz everyone share your experience as well
This is very educational video, Thank you Nitish for educating us on this important topic.....😊
Thanks Pratush
@@NitishRajputभाई आपसे निवेदन है एक बार हेल्थ इंश्योरेंस पर वीडियो बनाएं ,और यह भी बताएं
कि कौन सा हेल्थ इंश्योरेंस सबसे बढ़िया है
@@NitishRajput all of your contents are informative, educative and thoroughly realistic Nitish Ji
@@NitishRajput Hi Sir Make Video on Why Bank not Provide home loan to common Man
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Luv to hear your explanation. Absolutely fabulous!
Thnki so much bro. Valuable video for us ❤
In the No-Cost Emi trap, they're also charging MONTHLY_ EMI processing apart from NO_COST_EMI processing
Watched one of your video (Regarding GDP) 3 days back, since then not only just I've subscribed your channel but also have watched all your videos till date. I must say you are an excellent orator with such well researched content on various topics. Kudos!
sahi bole.
❤️ ❤️
Ab sb ko tu gayan dy rha hoga.
Credit Cards पर Dhruv Rathee ने तो ऐसे बताया है जैसे ये होना ही चाहिए और आपके कहने का मतलब है ये लेना ही नहीं चाहिए।
Thank you friend for giving very good information
This is why mostly international countries have their population using credit cards, where they are unknown by these economic facts. Big companies and transactions sometimes make it compulsory to have a credit card to do a payment which pushes us to buy one. India initially had a greater number of people just having debit cards, but the trend seems to change as credit card users have increased in recent years.
True and If you want to book a certification exam from Microsoft or AWS, they also make it compulsory to use credit card for online payments, and transactions are again in $
Meanwhile UPI is laughing at the corner and😂😂😂
Thanks for sharing. It was information
Credit Cards Are Blessings For Those Who Don't Need Any Credit.....
ua-cam.com/channels/-YsgguirsQ5m5j5ZpcQGsA.html
True...
True 👍
True bro
I regularly using Credit Cards with on time payments. Just be sure to pay the full bill every month and enjoy rewards. 👻
Credit card does not improve CIBIL
Thanks for informing 😅
Brother you have given such a useful information in a very simple and clear way .
Well done 👍
Credit cards can act as a pay-delayer (up to 50 days) if using it wisely. This can mean that if you know you can pay back the next month after salary but you really need something right now, you can buy it by 'borrowing' from the bank. The problem happens when we are stuck in a loop and keep on purchasing more and more as time goes by and we become comfortable using our credit card everywhere.
Bhai but tbh mai ye soch ra tha ki 50 days me b aisa kya hi ukhad jaega...isse accha mai sochta hu ki credit card se door rehna hi sahi hai....
@@sabkaBaap007 Agreed....too much tension and hassle
@@sabkaBaap007 Good for people like me who travel for work, as we need to pay for our hotel & food, and you don't always have the advance. Most of the cases, we do reimburse.
Exactly, credit card chutya logon ke liye bana hi nahi, for exa : Jo log Paisa udhar leke wapis nahi krte eise logon ki buri adat hi bank ko profit bana ke denga
@@iabhinav6691 wahi to normal banda jiski aadat hai limit me kharch krne ki aur jo time se lauta deta hai usko kya kaam credit card ka... Kuch log kehte hai ki aap jo 45 days ka time period hota hai uspe ek taraf ka thoda interest kama sakte ho but wo b kuch khaas cheez nai hai kuki jo limit me kharch krta hai wo waise b bht faaltu kharch to krega nai
As always, informative, valuable and brilliant. You always drop my jaw with your knowledge and explanation.
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Thanks bro for giving us important information about credit card ..
great job keep it up
Your videos really informative and knowledgeable... Hats off to your research and deepth knowledge
Nitish - great content and even greater delivery. A lot of times I already know about the knowledge you share but I still like listening to your content because of the way you present these facts. You have ton of potential.
Thanks, it was nice to get such details which credit card companies do not share...looking forward to next video
Thank you sir, really helpful explanation ❤
Great insight into the bank debt trap. Most people don't realise what they get into with credit cards. Best way is just live with what you have. Been there done that. Now no credit cards no stress.
Great work Buddy.
I hope People open their eyes after watching your video👍👍👍👍
Suprb research and eye opening facts about credit card trap. This is beneficiary content. Thanks Mr. Nitish
After watching a lot of videos , today i finally Subscribed. 🎉❤ Very Detailed and People oriented videos.
It's very helpful for me thank you so much for giving information, and I like to give us information like this 😊
I have been using credit card since 2020, got it when I was still in college. I have been using it wisely, never missed any payment, paid in full. Currently have a cibil score that's 800+ and credit limit increased by bank itself, all while unemployed. It's just about how you use. What Nitish said is true as well, it's a double edged sword.
Edit: Ffs, it's a typo, get over it
thats bcz ur father is rich
@@SuBhAmVLoGS exactly
Do some work bruhh!
Absolutely Hrithik. 👍
@@deathisontheway4656 🤣
THANKYOU BHAIYA 👌
FOR EXPLAINING THIS TOPIC VERY BRIEFLY AND IN FACTUAL MANNER ❤️
ALWAYS LOVED YOUR CONTENT 💝
indeed very very useful content.. please keep up the good work.. thank you..
Thanks for the info
Nice video and way to go on awareness. I had seen multiple people going in debt trap after using credit card.
Thank you sir for your in-depth analysis and precious advice..
Thank you - Thank you very much sir.... for this knowledgeable n compulsory video. Such a relevant me
Amazing sir. ❤thank you so much ❤
Using credit isn't bad idea it's all about economy situation. loan can be good during hyperinflation, inflation, and can be bad during disflation or deflation.. few will understand
@Shivam Shukla that will further increase inflation. wrong application here. I'm guessing you're taking about unexpected inflation. during this situation should decrease intrest rate so ad will decrease and price will decrease. it's just demand push inflation.
That's what he said in 14:48
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That was brilliant, absolutely brilliant. Have been using credit card for almost 10 years now. Nobody ever told me all this. Great job Nitish.
Most helpful video ❤
You are great, you never disappointed in your content in any way. It delivers perfectly always👌🏻
I am along with you a long time, your all videos teach us somthing different and we understand the deapth the topic, I recommend your all video on my all social media platforms and last thanks to you to give us important information and life lessons, love you brother ❤
sir ur way of explaining things at its simplest form is just osum
Great explanation, thank you so much
Nitish dear ......very well done. You have explained the entire scenario in a very simple and interesting way. Even a layman can understand the way you have beautifully explained it. Good going and keep making such informative videos. Wish you all the best and will wait for another valuable piece of content.
I used credit card to make my credit score. Every single month I used to make full payment 100%. And now my score is 800+ less than a year. From 0 credit history to 800+ credit score is a good use of credit card. I recommend this mindset to every bachelor. We can live a better living than before for damn sure.
Uss credit score ke liye kitne extra kharach kiye?
Ha bhai sahi bola apne. Main ek student hu. Mujhe kahi credit card nhi mil rha tha. Mera cibil score generate hi nhi hua tha. Fir mujhe Flipkart ne pay later ka offer diya maine accept kar liya aur 8 months achhe se use kiya. Aaj mera cibil score 769 hai aur jante ho sirf cibil base pe hi mujhe SBI ka simply click credit card mil gya. Bina kisi documents ke. Credit card achhe se use karo to bahut achhi chiz hoti hai. Ye nuksan unhi ko karti hai jo discipline nhi hote
@@ayandey137 sab koi tumahari trh nhi hota bro bina matlab ka kharch krne lagte hai. Hmlog to bas wahi chiz kharidte hai credit card se jo daily use me aata hai jaise gas booking, mobile recharge, fiber recharge. Hm to thik hai baki apna dekho
@@AbhishekSingh-tf8eo can you tell how you got sbi simply click credit card??
what was the process, from where you applied it ??
@@ayandey137 aur bank tmko gale pe chaku rakh ke credit card nhi deti. Har kisi ka approve nhi hota. Isliye tumhe ya tum jaise logo ko ye khatarnak chiz lagti hai to simple ek solution hai mere pass. Credit card lo hi mat. Khatam baat
Thank you brother ❤️❤️
Informative content nitish, i ever see your videos. You are the best content maker.
Credit Cards are important to steadily increase credit score but should be used very cautiously.
I know, I'm using and going through, very well explained, Indeed each and every point is to be noted✅ Thanks brother
Very informative video, thank you Nitish 😊
very great video nitish, thankyou for helping me not fall in the credit card trap since i recently got a card with high limit and started spending without owning the money thinking i will get it later.
your video made me realise i was going down the drain. thankyou
This Video is Gem Man!!
Ur Genius and Master of depth anaylisis...
Very interesting and to learn & know such facts. Thank you nitish bhai. I appreciate your knowledge on the subjects you pick up every time.
Thank you brother
Bohat vadiya jankari diti...!
Well Explained Bro. 👍
Everything is working so well and good. Respect to all those peoples who have worked to make things better.
One point : Amazon offers the interest cost on "no cost emi " as an upfront discount on the product , so it is indeed zero interest EMI , except of course the GST on interest amount and processing fee which goes out from the customer's pocket
The same Bajaj Card works 😉
And sometimes there is no processing fee at all.. i never paid once ..
@@TheVinodkumar2692 The GST is not collected by credit card company on the entire 79k. It is collected by the seller of the phone irrespective of the payment method. The GST under discussion is GST collected by credit cards on processing fees or convenience fees or EMI
The main problem is you lose on instant discount and other offers which are anywhere between 5-15% so indirectly aap zyada pay kar rahe ho
@@its_maalik no you do avail all the availabe instant discounts. I do use a lot of no cost emi's.
Bahut badiya bro very knowledgeable video ❤😊
Excellent information. Thank You.
Bhai aap bhaut he acha Knowledge deta ho Hats Of you …
Very informative video. Thanks sir
Very useful details provided by you. Many people will be benefited.
Unbelievable review mate! Hats off!
Thanks for give educational / finance knowledge ❤️❤️
Nitish Rajput sir= awareness,thankyou sir lots of love for educating us…..
Nitish Bhai Excellent Review.... good job👍
Thank you sir share this information with us❤️❤️
Perfect information sir ji 💐
Thank You Nitish for creating such an useful content... Very much appreciated 👍🏽
Did not there were so many loopholes about a credit card, favouring the banks. Thankyou very much for the information.
Thanks you sir .
You are great.
Video se bohat kuch sikh ne ko mila🙏🙏🙏🙏🙏
This is very IMPORTANT videos I Shares my friends and family members to understand this topics ❤️ Lots of love Nitesh Bhaiya from Mumbai
Very informative video Nitisha bhai, I was realised that No Cost EMI and Minimum pay is really a trap, everything you have told about credit card is 💯%right. Thank you so much for your information ❤️❤️
Very informative video sir ❤🙏
Good work Nitish Rajput...very interesting