5.2 Reasons to STOP Using a Credit Card!

5 Reasons why you shouldn't use a credit card!
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You probably shouldn't be using a credit card if you're carrying a balance, making minimum payments, taking out cash advances, justifying rewards points, having high credit usage/limit, using credit cards for emergencies or making late payments.
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#honestfinance #creditcards
0:00 -Start
0:23 - Paying interest
2:00 - Justifying rewards/sign-up
3:03 - High balance/limit
4:21 - Justifying emergencies
5:12 - Late payments

[@HonestFinance]

Enjoy the video! Comment below if you've got any questions, thanks :)

[@miguelmaxime8814]

Good day Jason, how are you ? Even though I know alot of what you are talking about you really know how to explain yourself. You are a great teacher 😀, you know how to explain yourself very well and I love you ❤ for the amazing teaching. You do this so well and you make it so easy. There is another guy on here he is Asian and he I also amazing. You are the only 2 people I follow, well, you are the Second one now lol. I love love love you for what you do. You remind me of myself, you have a niche for explaining things and not complicating things 😌. Thanks for sharing your experience and thoughts of do's and dont's. You're the best and I really appreciate you kindness ❤ Much love ❤

[@HonestFinance]

Hey thanks.l I’m glad you like the channel

[@VincentPascual]

Video well done, thanks! This has prompted me to minimize the number of cards I have in my Apple Pay and physical wallet. The fewer cards you have access to, the less tempted you are to spend more than you usually would. And using a debit card for day to day purchases really makes you think before you pay. If you’re not seeking to maximize credit card rewards, the best use for them is to take advantage of purchase or travel protections not offered on debit cards.

[@DanielaRojano]

*Hi I made a dispute of 200$ since August 7th & made the purchase since July 23rd. I got scammed 200$ for 3 piece items but never received it & seller/scammer contact/site is gone. I have 60 days to make a dispute according to Chase & I used my freedom CC. I still have the -200$ credit balance but I am getting my money back. While they investigate the merchant/scammer’s bank. I’m worried that this dispute wouldn’t be in my favor, will I have to pay interest/fees? This is my first time going through a dispute & I somewhat still don’t get it, please explain? Thank you*

[@mahaveerd9510]

Does credit score look for overall utilization or each card should be < 30%

[@HonestFinance]

I’d lean towards each card to be safe (but that’s my opinion)

[@jal7068]

Should 30% or under utilization be in each credit card or all together?

[@bionicwoman9884]

For me it's both

[@foltzenlogel]

All together

[@HonestFinance]

I’ve read both ways, so I’m not sure which one is 100% accurate. I’d base it off each card just to be safe

[@SledgeIncTeam]

Under 10% is better and that's overall

[@SledgeIncTeam]

I agree with all your points and I have 14 credit cards. Pay them before the due date and pay them down to below 10% before the statement date. Never pay interest