Cash Back vs. Travel | Pick the Right Credit Card for You

[@herryfrd2740]

Disagree. Travel cards have many more perks than just travel. you can use/rack up your points for shopping, uber, uber eats and at the end of the year, you could have enough points to take a flight or stay in a nicer hotel for a night out with your SO for free

[@MoneyGuyShow]

Herryfrd, thanks for sharing and watching!

[@laura.redfield]

I prefer cash back options. We don’t travel very much and I find that travel cards often have overly complex and volatile points and perks systems... ‘ain’t nobody got time for that’!

[@MoneyGuyShow]

No one has time for that! Thanks for watching and commenting Laura.

[@herryfrd2740]

I agree that for the avg person just starting out, get a cashback card so you can get 2-5% discounts on your everyday purchases. But after, if you have a big expense coming up that you were goign to make with or without a CC, then go for a non-chain dependent travel card like an AMEX Plat or CSR

[@MoneyGuyShow]

Thanks for sharing Herryfrd!

[@itrthho]

Finding the lowest cost airline ticket then use a cashback card works just fine for me.

[@MoneyGuyShow]

Thanks for watching and commenting George!

[@michaelr8128]

Dave says no no to CC's

[@benjakobd.c.6499]

Credit cards are a bad idea even if you pay off your balance in full at the end of the month. Why? Because you spend more with a card than you would with cash and therefore have less left to invest and grow your wealth. It's hurts to watch your bank account balance go down every time you make a purchase, which exactly why you should keep using that account to make purchases. You will find your spending habits immediately and substantially improve freeing up literally thousands of dollars or more per year which can then be invested to grow your investments. What exactly are you getting back for using a card? A free flight cross country that saves you a few hundred dollars? Do the math folks.

[@jackmasden244]

I disagree on what you were saying you can use your credit card to pay a monthly bill that you would normally pay anyway but also get a reward and build credit.

[@MoneyGuyShow]

Ben you definitely need to be disciplined with either cash or credit. I know when I personally have cash I tend to feel more drawn to pull over and get a coffee or a mid afternoon ice cream cone. We all spend differently. The key component is making sure you have your financial life structured that you are saving automatically, living on less than you make, and being mindful of future goals. Do all of this and then you can drink your coffee or eat an ice cream cone guilt free 😉. PS because I pay utilities and other forced expenses on credit cards my cash rebates exceed $2k/year.

[@sammyb8056]

@@MoneyGuyShow The man thinks he's smart but we all know who the real smart ones are here

[@michaelr8128]

Dave Ramsey tells me otherwise folks....

[@htimsrecneps]

Dave Ramsey's advise is meant for the dumbest possible financial client that has no self control or common sense.

[@a.miller8316]

Once you are out of debt, have learned to manage your money, live within your budget & can be responsible enough to pay off your balance every month... Then get a card, they literally are giving you free money. Dave assumes most people (definitely his audience) aren't responsible enough to pay it off and he's right.