Dave, I Disagree With Your Thoughts On Credit Cards

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[@_ZORDON_]

He just accidentally convinced me to quit smoking

[@kashfortheking]

😂😂😂

[@peterszabo7572]

Hi there! Great commitment, but now I'm here to ask if you could finish that! I'm really hoping for you!

[@Painfulwhale360]

Conor Lee did you quit?!

[@erichardnett9394]

Did you quit?

[@bsolutions525]

Bad news, he is now chain smoking up to 3 packs a day. Gonna get lung cancer soon

[@miniscus5]

Dave and Graham need to have a face to face!

[@MrWololo90]

Yeah, comparing it to smoking cigarettes is pretty stupid. I mean Ramsey is lookin out for the average Credit card user. In Sweden, Were I live, there is NO upside at at with a Credit card. But in the US with every thing tied to your Credit score and Credit card shurning etc its upside for the diciplined individuals. IT wouldnt be any upside if everyone were diciplined tho. Since the Credit card companies wouldnt make any money at all. So as a General rule, sure Ramsey has a point. But for the diciplined individual ofc not. Graham Stephen is a very good example and many of the People at "millenial money Who have accually made it" Listen to Dave Ramsey if you are average or to Graham Stephen if you know you have the diciplined it takes to cram out every benifit out of these cards. Cheers!

[@clarifyingquestions]

They actually agree with each other.

[@pab4435]

YES!! It is my goal, strictly as a viewer of financial entertainment, to see that! @Graham Stephan

[@pab4435]

MrWololo90 I love this comment. I fully agree with you. I felt the cigarettes thing was simply apples to car keys lol. Although I get the point that he meant to make. If the caller is 21 and already keen enough to call in with this sort of questions. I feel like he deserved the honest answer. Unfortunately Dave found himself in a position where he had to placate to the emotional will power, of what I assume is the majority viewer in his eyes. -Maybe off air Dave called him back for a more thorough assessment of his inquiry. *Stay well friend

[@australianpatriot]

credit cards are necessary if you aren't an idiot

[@giuliapacovich2943]

"I disagree with you, Dave" "mmh.." 😂😂

[@BlueDauntless]

Such a stupid thing. He really thinks he’s going to stick it to Dave and prove him wrong?

[@bryanburgos4685]

The ONLY thing I disagree with Dave is that paying cash hurts more than using my DEBIT card. When I have cash I usually just want to get rid of it, but when I see my checking account getting smaller that’s when my heart suffers 😂

[@jabdeeznuts]

I can see the cash and know what I have. Having to wonder, worry, and have to check before I swipe is the worst fear lol

[@billyb4790]

I agree. I use budgeting software so I always use my card and it stings when I see how high it is at the end of the month.

[@jeremybilly2376]

Seen the title and said somebody about to get it 😂😂😂😂

[@SeanBaker]

Exactly. 😁

[@EPICAP1]

Facts

[@PCKA1987]

I’m amazed he kept his patience and cool with the subject.

[@Virginiasmile]

Hahaha I was listening on the podcast and thought the same thing. Especially, when he said his age lol. Dave exercised his wisdom. It was great!

[@pollodormido2]

21 year old telling a millionaire he is wrong about money! 😂

[@RunE076]

Dave is great for the people that are financially irresponsible, people that don’t have self control should never have a credit card

[@colin1818]

That's almost everybody

[@ppoppoiop6336]

Well-said

[@RunE076]

@@rehn4529 well now you know :)

[@ViaMirage]

Definitely. But people who DO have self control, should and can.

[@dc76384]

Fast AF. What's your net worth?

[@ericlomma3074]

Had a credit card for 21 years, pay it off in full every month. Never paid a cent in interest. Not hard to be disciplined.

[@grp7842]

You’re a disciplined individual but the reality is most people are not.

[@nicorusso1526]

I agree completely Eros

[@whatevergoesforme5129]

You are the exception to the rule and exceptions do not negate the rule. Otherwise, Dave wouldn't have his program.

[@colin1818]

"Not hard to be disciplined" Well that's not true at all. It's very hard to be disciplined. That's why America has over 420 billion in credit card debt.

[@Goat.Cheese]

True. Only people with no self control have issues

[@andresjimenez3811]

I love my credit card with 1.5% cash back. I pay it off every 2 weeks and make little money. Its a dangerous game for people who don’t understand.

[@rades920]

King Beef clown

[@broncogray1483]

King Beef How is she losing?

[@tommytran6122]

King Beef losing what lol? The only thing would be if he is spending more than he usually does. But if he is spending and paying it off normal there’s only gains.

[@TheGamingAudiophile]

Check out the Citibank 2% back in rewards credit card.

[@levirleon5001]

1.5% of 100 bucks is a dollar and 50 cents is $15 for every 1000 dollars you spend, so what Dave Ramsey advices us is logical, if you get $15 for every 1000 you used n don’t pay it back in the first month, next month your gonna pay about $35 in interest rate so it’s not worth risking using the card because for one month that you failed to pay it off they already made money off you....

[@KofiO-vm8po]

🚨How Dave classically insult him by asking his age 😂😂😂

[@garretteckhardt6665]

He asked a question. The fact you see it as in insult shows YOU know deep down that the 21 year old is inexperienced!

[@dancer1]

Garrett Eckhardt Bru ...

[@Kamino42]

@@garretteckhardt6665 yea some things are subtle in life. It went over your head.

[@garrett7101]

@@garretteckhardt6665 I'm 45 and I agree with the 21 year old.

[@justinacase2623]

With age should come wisdom, but a hard head can lead to a sore arse.

[@jcrowley1985]

credit cards are just another tool. And like any tools, you can get hurt if you don't use them properly and safely.

[@markg999]

True...its like a gun in the hands of the wrong people it can cause great damage but we shouldn't then ban all guns.

[@CreativelyWarped]

Probably the best explanation I've heard about credit cards

[@vcuzx]

Dave Ramsey's logic and the way he compared to the snake is moronic, what the snake have to do with the a credit card?

[@Kinglouie638]

Thank you!!!!

[@thereelaccountant9246]

@@vcuzx you obviously don't understand the concept of a metaphor

[@neutralsportsfan17]

I would argue that looking through a month of credit card bills could activate more pain censors than a lot of cash or debit card transactions that can get lost or forgotten about. When I got my first credit card in my early 20s, I was more responsible than with my debit card because I hated seeing the monthly bill as opposed to little dollar amounts leaving my bank account..

[@linako5107]

David Risley, GREAT point 🏆

[@RogerPack]

I don't look at those bills until a month after the purchases...so I don't feel the pain as fast...

[@dr.bassmab552]

“ How old are you ?” 🤣🤣🤣🤣 I am dying 😂😂😂😂 uncle Dave ! I use a credit card but I am in a tight budget that I follow with passion and heart.. I don’t exceed my allowance. I pay bills, groceries with my credit card. I Pay everything on timely manner I don’t accumulate balances or spend more than what my budget says .. I love getting cash back on paying my necessities ( bills and grocery) . Credit card is a good tool in the hand of a wise financially self control person .. I totally agree with uncle Dave because there are people who can’t control themselves and their financial life is not well established yet

[@rons.6683]

The caller is 100% correct. Everybody is not an idiot devoid of self control. Love Ramsey, though.

[@AnthonyBrusca]

Dave Ramsey's program is like AA for Debt Addicts. Most people have no problem with alcohol, but some relapse if they touch it. His program is mathematically not optimal but people who need his program need every psychological benefit they can get.

[@rons.6683]

Yep

[@9doggie12]

Most people are that’s why banks make billions off interest. It doesn’t matter about that one persons when the other hundred pay interest.

[@AnthonyBrusca]

@@9doggie12 no, credit card companies make money off transaction fees

[@9doggie12]

Anthony Brusca where’s is your source

[@cutlerylover]

Credits cards arent bad the same as guns arent bad, people are just bad, put a credit card into the hands of a good responsible person, same as a gun and no one gets hurt...Problem is people are not responsible individuals are...There will always be a few spoiled apples that ruin the bunch...

[@Leroythtsme911]

HUGE FAN! GLAD TO SEE YOU HERE!

[@garywalker6216]

Yeah not too mention this is a show where people in financial trouble call in. It would be like going to an AA meeting and the guy saying alcohol isn't too bad as long as you have self control.

[@digitalmoses4714]

It’s not that’s it bad it’s plain stupid. Who in their right mind would want to borrow money to end up paying that person for borrowing it. Sounds credit cards play off people greed.

[@ravindrapersaud7608]

Agreed with u I cant understand how ppl mismanage credit cards. I literally plan and budget everything I just like.saving money in general. Ppl need to start liking to save money.

[@Joe-jc5ol]

Credit cards definitely made me spend more. I am super thrifty, and now I am just plain thrifty. Brains are really bad with math, I found myself justifying purchases because the credit card will give me a 2% cash rebate. 2% is next to nothing! I keep using for that purpose, it is helping me get over my thrift, but I am not deluding myself, it definitely is making me spend more.

[@TheMetalBison]

I have a credit card and used it almost exclusively for all my purchases, and then paid it off in full every statement. So I paid 0 interest and after about a year I had like $700 I cashed out from the points. Just saying.

[@dreamdiscounts]

I don't mind Dave giving out bad advice to people on Credit Card use. It just makes it easier for me to get ahead.

[@clarifyingquestions]

Metal Bison - so are you one of those people who pay off their balance each month but spend more over a lifetime. You do realize that that American Express, VISA, etc are the winners! I do not own a credit card but I do own American Express stocks - $$$$$$

[@clarifyingquestions]

@jeremiah sams Was that a serious question? geez Any idea what the consumer debt in America is? I ll let you figure this all out on your own.

[@clarifyingquestions]

@jeremiah sams re responsible people, I am assuming your defination the same as Metal Bison's that as long as you pay your balance in full and on time every month, you can enjoy the perks ( rewards) and the convenience. I take my definition of responsibility further to include unintentional, unconscious spending because research (you can do your own) indicates that consumers do over spend. So it is great if you pay your bill on time and in full every month but not so great if you bought a bit more thanks to your method of payment. The credit card companies are doing much better than the consumers. Podcast Freakonomics explores the psychology of money which does override the mathematics. Digressing here but a lot of people listen to Ramsey's podcast just to feel superior but superior to who? - not to Dave:). Back to your question "why would anyone spend more just because they have a cc?" research indicates - people spend more when they use credit cards as method of pmt and they are really not aware of this. we are talking about 10% over - unnoticeable amounts which like RRSP management fees add up. So if one is not aware then one is not responsible.

[@anthonydanna1683]

the minority of folks who are responsible make out with benefits (rewards, purchase protection, etc) while a larger percentage of folks who do not use responsibly benefit the credit card companies.

[@TinkerKing209]

Dave it’s not her account It’s “our” account. She’s not your roommate. 😂

[@lonelywuffy]

I think Dave speaks for the majority. I use my credit cards to pay for EVERYTHING. But I do not carry a balance. I pay it all off at the end of the cycle. It can be done if you have the right discipline. The rewards can be amazing.

[@WalterVermeir]

Just wonder; if you pay everything with your card and pay everything off every month, would it then not be more ease of mind if it was a charge card instead of a real credit card? - Not having to option to use credit reduces strongly the risk and temptation.

[@IT-fj1nx]

Eventually you will be paying the interest when something happens

[@johnnyjameson3641]

@@WalterVermeir The credit card gives you rewards. Charge cards don't. I made $500 this year buying things with my card

[@johnnyjameson3641]

@@IT-fj1nx That's what the emergency fund is for

[@kentrobinson7479]

*"5" FIGURES CASH BACK "6" or "7" FIGURES AIRLINE MILES WON'T EVER HAPPEN USING CASH*

[@GamerNRetro]

Takes discipline. I was with Dave for a while but then realized I’m not the typical idiot who racks up 5 grand in credit card debt and am surprised it’s there.

[@mattpalmq]

LightningBlueMeanie Dave's message is to your average person. People that use credit cards responsibly and pay them off every month are very rare.

[@stevenundisclosed6091]

@@mattpalmq very rare? Really? I don't buy that for a second.

[@droptozro]

Yeah I'm the same. I have some CC's sitting around though I've not used them in years. But I won't deny the amount of times I've thought "Why don't I use my Amazon VISA to buy things when I'm GOING to buy something on Amazon I want/need anyways?" I know it's not to get rich, but if it'll give me cash back on there anyways... I'd budget it and pay it off immediately. It's not even debt, it's more of just a quick transfer. Then there are people who avidly DO use those points and airline miles in a strategic manner to buy things they already buy. Check out ChooseFI or others for more info on that. I don't travel so it doesn't interest me really--but some of those guys have saved upwards of $5k on worldwide travel using those cards in a disciplined and planned out manner.

[@droptozro]

@@stevenundisclosed6091 I'd buy they are rare---since there's plenty of studies that show the average person couldn't handle a basic car or medical emergency without going into debt. Then the anecdotal evidence shows me the same in my area and people I speak with/overhear at work about their financial woes.

[@mattpalmq]

@@stevenundisclosed6091 if they weren't rare credit card comes wouldn't be profitable. They make nothing off of people who pay the balance in full every month

[@millersharp5443]

I Wonder What Graham Stephan would say? 🤔

[@TechXSoftware]

He would give him a serious talking to

[@BennyCasazza]

@@TechXSoftware 🧢

[@Joshuastem5622]

Actually, the caller is not wrong. For those who are responsible enough to use credit cards effectively, there are many financial benefits such as sign up bonuses and rewards used for cash back or travel. Credit cards do not only have downsides. For people who use them responsibly, they actually only have upsides.

[@HVDynamo]

Yeah, I think Dave is just too hard nosed on this. I know he mentions research, but that still doesn't cover everyone. It's true to the extent that it will effect many negatively and they will spend more, but... This doesn't mean they are bad for everyone. I only have a credit card to increase my credit score, but I still watch my budget really close, and the rewards that just happened to be collecting in the background is enough to buy me the new iPhone that just came out at a very significant discount. I consider that a pretty big upside. The key is paying it off every month and still monitoring your expenses through that card.

[@Joshuastem5622]

@@HVDynamo yes, that is exactly what I do as well.

[@vildachaya6462]

Businesses use them for cash backs

[@jlogan2228]

Yea i usually pay for all my usual bills and monthly expenses and by the end of the year I have about 200 extra bucks from points and rewards. Its not much but its 200 bucks I didnt have before all from just paying normally

[@reviewassistant6891]

Nope the small benefits is not even worth me mentioning to the masses you don't want to give any indication that this drug is good if you smart as the majority are not and will lose, people that are winners will go do the research and find out the benefits, these people don't need a guru to tell them something so obvious

[@octoberscorpio4LIFE]

Yesterday I paid for gas& handed the cashier a $20 bill& I "felt" like it was a $100 bill. Yes my pain sensors was activated 😖

[@Aubatron]

I'm an INTJ personality type, we literally disconnect emotion from our choices because we live in our future plans and goals. I equate how much money I spend on a credit card to how many hours of work I just spent, and how far that will put me behind for my future goals. If I didn't have a credit card, I wouldn't be able to get a mortgage because I wouldn't have any credit score, and it would slow down my plans. Not all of us are controlled by impulses.

[@Goat.Cheese]

True. And it's probably not even related to personality that much. If you were raised to be financially responsible then you will be financially responsible. I hate it when Dave acts like everyone is a flaming idiot with zero self control. It's insulting and ridiculous. Sure, some people cant handle a credit card responsibility but many can.

[@Aubatron]

@@Goat.Cheese I mean, I do see why he does it. He's made a system that works for the highest number of people possible and is idiot proof. But like you said, not everyone is a flaming idiot, and that's the problem. It was made for idiots. I guess he figures smart people don't need his rules in the first place or something, so they're not his audience. I also think financial responsibility is a mixture of both nature and nurture. I save 2/3 of my income, my brother and sister are not like me at all.

[@devin_leary]

Hey I'm an ENTJ!

[@Aubatron]

@@devin_leary ENTJ Brotha, lets take over the world together

[@XAndrewBurger]

“I appreciate your opinion Brian, but you are wrong.” SAVAGE

[@brucky7822]

This is Dave's opinion I completely disagree with

[@jeffwvu4602]

Well have it...swipe your Visa, Mastercard and American Express all over the place while you chase cash back...where you need to spend $100,000 to get $1,500 back...wealth builder...lol

[@joshuaflowers9217]

He’s using common sense why but something you can’t afford

[@LogeySmalls]

Brian: Dave, you’re wrong. Credit cards are great. Dave: YOU DARE OPPOSE ME MORTAL?!?!?!?!?!?

[@shonalovely2143]

😂

[@CaesarAugustus.]

“What you’re saying is illogical.” *proceeds to drive his point home with a logical, false equivalency, fallacy* 🤦🏻‍♂️

[@daleviker5884]

@ Caesar Santizo Exactly. Ramsay's "logic" would be embarrassing from the mouth of a ten year old.

[@Kaiyats]

Well what about fraud protection? Travel insurance Airport lounge access A worldwide helper Those are some benefits

[@iseehowitis9382]

Which one's a multi millionaire and which one is most likely living paycheck to paycheck with debt. I'd rather listen to the multi millionaire, and follow in his footsteps than some young, inexperienced person whose not been through nearly enough, but thinks that he knows better. You can't debate success

[@exoticryzo9092]

Wes Baldridge well if your a millionaire you aren’t gonna need any benefits you just live free, even other successful millionaires talk about how using cards properly is good.

[@joshualantz8915]

@@iseehowitis9382 no you're Rong

[@erikrohr4396]

@@iseehowitis9382 How about we think critically about the points being made rather than the credentials of the people making them?

[@gestapoid]

Dave Ramsey made his millions giving generally irresponsible people simple advice they can follow. His methods arent the best way to operate if someone is self-disciplined.

[@Marks_Piano]

I don't like credit cards either, however in my country we cannot get a 16-digit debit card, so if I order anything online, I need to use my credit card :( in fact most people here in The Netherlands don't even own credit cards, but they have to borrow one when booking tickets or purchasing from amazon, if the website does not accept our 9 digit debit card...

[@brady1268]

How come they don’t have 16 digit cards?

[@argus456]

@@brady1268 We have Maestro debit cards. But it's not entirely true what he said, there's several banks that offer it nowadays, just not the older more traditional banks

[@Phyoomz]

ummmm... why couldn't you just use a virtual paypal card that's linked to your bank account?

[@gracemedina1320]

What country

[@Phyoomz]

@@gracemedina1320 he said The Netherlands 🇳🇱

[@cambosoup2]

The biggest upside to credit card is protection. Stores can find your purchase without receipts. Some cards comes with travel insurance and primary rental insurance.

[@lloovveellyy742]

Your knowledge of credit cards is news to me. Lol. Im so late.

[@RogerPack]

Debit card is about the same. Stores find me by my phone number, except possibly Home Depot, but you can get an emailed receipt by them. FWIW... :)

[@jollama]

@@lloovveellyy742Bro living under a rock 💀

[@Jason-uw3wn]

Does this guy really think he was going to change Dave’s mind? 😂

[@Vydio]

No, but maybe he thought it would be fun to try. I was glad I had one working credit card when I had to get an apartment quickly for my son. My debit has a $500 a day limit.

[@edd06001]

lol, Dave's philosophy is the equivalent of AA. An alcoholic needs to stay sober the rest of his life to not destroy his life. There can be no grey area when trying to get people out of serious debt and into wealth, and the only way to live a normal life for them is to be entirely debt free at any one time. Any person who can pay credit card balance down to 0 every month and not pay interest is not doing any harm to themselves, unless the psychology of spending more with a credit card comes into play. That's why we have a budget.

[@atlascommercial8333]

Whenever I feel like making an expensive purchase, I KZbin Dave Ramsey and then that thing to gain real life perspectives.

[@ErrorPagenotFound-ig1cy]

Dave might not be ready for a new following, folks that have credit cards that treat it like a debit card..

[@CloseEncounters1]

That's what I do. I make a lot of money off the points.

[@colin1818]

@KK C - Debit cards are also cashless. This feels like a non-issue to me.

[@roxannegordon6162]

what a hot topic. If people are going to hate dave, it's going to be this one. People are not going to give up their CC without a bloody fight!!!

[@doublearon97]

This response was way out of proportion. Sorry Dave but you didn’t give him a chance to have a conversation about it.

[@weslandia2001]

Dave isn't interested in having a conversation about credit cards because that would require him to apply nuance and reason on a topic he has no interest in doing so. He's more interested in spouting that NOBODY should have credit cards regardless of how responsible you might be with them

[@doublearon97]

Wesley Newsam Good job, you’re hired!

[@justinacase2623]

Ask any bankruptcy attorney about people he represents. 99% of their clients have cc debt! All were going to pay it back, till they couldn't. So again Dave is right, that young man will learn, ain't no free lunches. There is no upside, cash is king, wanna bees waving cc are the jokers.

[@wjennin1]

Dave was a lot more chill than I expected lol I think if you stick to your budget religiously, then you can use a credit card just fine.

[@Atums01]

this boomer deals in absolutes lol

[@gregbrent8775]

"Ok, Boomer"

[@rooks9884]

The Sith. 😂

[@pep590]

Dave's feelings have nothing to do with being a baby boomer. He's been saying this for 30 years, Carlos.

[@code5829]

His logic is terrible. H

[@Chironex_Fleckeri]

It's an absolute because Dave is teaching people who don't know how to manage their money. Chances are, if you grew up in a financially stable household, your parents set the example for you and warned you. So I think this CC advice is dealt with in absolutes because he doesn't want to tell the >50% of his audience, "well, decide if you're responsible enough to use a CC. Then they aren't bad." "OH, Dave Ramsey said there are plenty of responsible people who benefit from treating their CC as if it were a debit card. I'm responsible! I only have a small balance that I'm paying down." So that's the argument I can think of. I disagree with Dave on this, but I don't really have issues with handling money.

[@Fifth.Amendment]

"I appreciate your opinion, Brian. But you're just wrong." 😂🤣

[@TheEtherealgrl]

More accurate would be, "I disagree." Dave is perpetuating arrogance.

[@Terencew101]

I laughed too

[@isaih_1]

Kate Hartmann dave said multiple times in this vid that its wrong based on real data, its not his opinion. Kate you must either be (1) a dave hater or (2) ignorant

[@siegfriedbraun5447]

@@isaih_1 but the data are predicated on a false premise. I'm going to buy groceries and 'care less' about what I put into the cart, sure. I'm *not* going to throw items away at home, because I didn't budget for them. If I buy airline tickets, I'm going to find the cheapest ones, regardless of payment method. Same with tools or clothing. I already have the money set-aside. At a restaurant, I'm going to order whatever I like, whether I have or don't use cash. Makes no difference, and *I've* got the statistics to prove that! Dave's problem is that he's the tail wagging the dog; people with self-discipline issues will always have those issues. Folks who've mastered their impulses won't.

[@isaih_1]

Siegfried Braun i appreciate the insight sigfries. Would you consider yourself a perfect person? Probably not. Would you consider your abilities to practice restraint strongest at the beginning of the day? Probably yes. Would you agree that as the day progresses your ability to practice restraint weakens? Probably yes. If you are on a diet you would probably practice restraint to not eat sweets. But if you presented with sweets all day long, your ability to practice restraint is weakened. By the end of the day your spent. Credit cards, for people who feel the urge to use it, have to resist the urge all day and all night if they own one. Every once in a while people have bad days and make miscalculated or desperate choices. No one is perfect. To remove credit cards is to simply have one less thing to resist. The less resistance you create the greater your chance of giving in to urges. Would you agree that having a bad day at work where you just wanted to scream at your boss or employees sometimes is taken out on a spouse that had nothing to do with the issue? Sometimes people make uncharacteristic choices in the midst of stressful situations. The presence of a credit card is equivalent putting a sweet piece of chocolatecake in front of you all day everyday. Sooner or later you will eventually either eat the entire cake or take a bite. Credit cards simply serve as an avenue to carry out “give in”. For some people it is buying that $0.99 candy bar for some its a new “toy” they didnt need. For one person as yourself it doesnt make a significant impact to the banks. But times that by 100 million people and you can begin to see how credit cards make their money. At large People spend more when they use credit cards than if they used cash. There is real data to prove this. No where does there exist data to prove credit cards add value at large. No where. All data points to credit cards companies being the winner. Hence why they are the most marketed commodity ever marketed in human history. At large it makes a ton more money for the credit card companies than it does for the consumers. a ton is an understatement here.

[@pmbarro]

Although I generally side with Dave on credit cards because MOST people don't handle them correctly. Now, I have a couple and make sure I pay them off every month. So far I have paid 0 interest to them and they have paid me $400 in rewards. Who doesn't love free money? Point being, if your not a financially strict person, don't get one.

[@kentrobinson7479]

I'm 100% CREDIT CARDS...I love paying less than cash price for everything for over 3 DECADES

[@elninostorm]

Problem is Dave's advice is tailored for the most irresponsible portion of his viewers, and he loves the psychology of spending more when you don't have the physical cash in your hand. For me, it's the opposite. If I take $200 out of the ATM from my paycheck and live off of that, I'll probably spend it more quickly than if I was using a credit card. The $200 looks like a "bottomless pit" in my wallet until it suddenly isn't. I track everything online, so when I actively see the alerts and card balance, it stings more as I see it go up and up for the month. Point is, everyone is different. His "one size fits most" methodology is mostly true, but perhaps overly zealous in some cases.

[@alextogo8367]

He has a point thought. Maybe not you specifically but people spend more with cc. And before they know it big balance.

[@frankmagana1408]

I strictly use credit cards when i make purchases. Number one, it protects your assets from scammers with their zero liability for fraud. All i need is one wrong swipe with the debut at place where I don’t even notice a card scam machine and ive lost all money in my checking account. Second, i get other protections like warranties and insurance that are nice incase i ever need it. Something cash could never do. Third, i make money off these companies. Im young, Ive only had a credit cards for over 2 years but ive made iver $250 just in cashback rewards. Ive only payed $0.00 in interest and fees. Especially on gas. Im going to buy it, theres no way around it, i need to get to work. Why risk the bank account or pay cash when i get 4% back with costco.

[@learntime1202]

Just buy it cash lol why use the card

[@maxflight777]

When you spend cash it activates the pain centres of your brain !! So Freaking true.👍👍👍

[@exgamer07]

He concedes to the caller's argument and then says he is wrong 😂

[@RafaelHernandez-bc7rw]

I can never understand how people can get $10,000 in CC debt. I use it on a $500 purchase and I begin to freak out and immediately feel like I have to pay the balance back.

[@kentrobinson7479]

I love getting paid to use CREDIT CARDS (always paid in full)...using cash pays squat

[@aeromedical6750]

@KENT ROBINSON - I love using CASH and building wealth. I’ll assure you my net worth is substantially more than yours!

[@AfterFurtherReviewCFB]

aeromedical67 Contact me lol I wanna learn

[@dustinnyblom7835]

Yeah because you’re in debt

[@EricSmyth4Christ]

If you owe $500, send them $2000 and carry a -$1500 balance

[@royalredus]

Here's a better argument in favor of credit cards. Dave often says with a debit card you can't "accidentally" get into debt. But you CAN "accidentally" have your entire account wiped out if someone decides to steal your information. And yeah yeah, I know a debit card has the same "protections" as a credit card, but that money is GONE and you have to plead your case to the bank to get the funds restored. A credit card offers a buffer against that. I actually think it's extremely foolish to use debit cards. I trust myself enough to not "accidentally" wind up in debt more than I trust that some crook won't try to steal my debit account info.

[@oldtwinsna8347]

Agreed. Especially if you rent a home, in many states that are landlord friendly, eviction process can start just a few days after the payment due date. Very dangerous if you're a renter and actively use a debit card tied to the same bank account you make the rent with.

[@louib716]

I agree with what you said. In addition to that I also wouldn't use the cash system Dave promotes because 1) I'm so used to checking my credit card accounts everyday that using cash feels like I'm not even using my own money to buy something. 2) I lose stuff. A lot. Cancelling a credit card is far less devastating than losing cash money.

[@josephbrandenburg4373]

A decent bank will have protection against that kind if thing. Even the big banks that Dave hates do, Bank Of America will reimburse fraudulent charges if they're reported quickly. Not sure what the time/money limit is with that, though.

[@Stumc46]

@@oldtwinsna8347 that's why you have a minimum of three months expenses saved. In that time you would get your money back from the bank. The other way would be to use a prepaid credit card and put your spending money on it each month.

[@Acoustic_Theory]

With a debit card, you can indeed get into debt, but by only a small amount. It's called overdraft. Banks won't give you an effective way of preventing it because the overdraft fees make them a lot of money. But when you get money back into your account, you'll have that fee on there, and that fee is the debt that exists while your account is sitting at zero. So you can't just be dumb and forget about how much money you have - there will be consequences for it, and no one is giving anybody free money in this world.

[@poetryaddict1]

I felt the same way as Brian but your explanation blew me away Dave! Thanks for the great info!

[@code5829]

THINK FIR YOURSELF. THE CONTENTS OF WHAT IS BEING SAID. YOU R BEING BRAINSWASHED HUST C. Because he looks credible, SO WH AT? THINK OF WHAT HES SAYING

[@jacobf.8992]

2:05 I'll agree with you when it comes to most people. Personally though, I check my credit card balance often and instantly translate that to money I have to pay because I manage it as if it were my checking account. So I feel about the same amount of pain with a credit card as I do a debit card.

[@TearingRaven]

My biggest issue with credit cards is the altering of spending psychology. When you give people points for spending, suddenly you've been incentivized to spend. Spending now feels good. It is rewarded. Suddenly you have a ton of stuff, tons of debt and tons of points.

[@markg999]

Some idiots fall for that trap, the smart people understand I will have to spend what I do on gas, groceries, internet/phone, insurance and doesn't matter if cash or a CC that expense never changes. Only a really dumb person would spend more due to points.

[@outdoorsnevada4138]

Some fall for the trap as stated before. Buying just to get points is dumb. Buying things you already can afford with a card to get cash back is not. Plenty of times I got a "free lunch" or "free tank of gas" because I use my credit card responsibly. Not going to pass up small things like that for no reason. Just don't be dumb

[@MicheleNichols2]

@@markg999 not dumb just average. The average person can't handle it. It's the same reason 40% of black friday shopping is for themselves. Shopping causes spikes in dopamine. People get addicted. I've worked in marketing, publicity, commercial production, & promotions for 8 years. Much is psychology driven data that fuels all the campaigns. And if you look at the numbers it works. Scarcity marketing is huge and what leads to the craziness of Black Friday. Yes people have to be smart consumers but most people would rather pay attention to who won big brother than actually spend their free time with self-improvement. It's a huge reason I'm a minimalist now and would rather focus on God's purpose for my life and my family and life experiences than collecting stuff.

[@blackworldtraveler3711]

Kye Moser That's your issue. I have no debt and use my credit card weekly.

[@TearingRaven]

@@blackworldtraveler3711 not my issue, I don't use them. But by all means, continue patting yourself on the back.

[@karolgarley]

Dave is like.... 'Thank You... Next' 😆

[@user-zq4ec5xp7t]

Yea, too bad that the caller was actually right about credit cards, and that Dave went completely off topic xD oh well, at least the majority of people watching this aren't stupid :)

[@gestapoid]

Dave had to rely on awful examples to dismiss a caller who was correct.

[@mikenelson8377]

Razerware146 how was the caller correct though and DR wrong? At the end of the day, everyone is their own adult that’ll make their own decision. Oh, and DR is correct.

[@SaiyanBranch]

The Cash Back upside is what Ramsey isn’t mentioning. A responsible user of credit cards can profit from spending if they pay in full each credit card statement.

[@abdulrazzaqawadh6016]

Best advices by the man, respect all the way from the Middle East

[@MattPryze]

The disconnect has flipped with my generation Dave. Dollar bills are completely disconnected from the number on my account. Spending with a debit card feels like actually spending.

[@krecikowi]

If you track spending on credit card it feels the same :)

[@gigachama]

Never looked at it like that but it’s true. I’m not going to spend $500/$2000 in my bank account and go “oops doesn’t really matter”. Discipline is the issue, not cards.

[@barmiro]

@Nick White for me personally, I've become so detached from the concept of physical money, it simply doesn't register. To me, it feels like I'm exchanging coupons. Seeing the ATM withdrawal on my account hurts much more than actually using the withdrawn cash.

[@misspriss2482]

Same. I have to be really careful when I'm withdrawing cash because for a while I was drawing out $20-40 every time I went to the store and had no idea just how much money I was spending. Every time I use my debit card I get a notification on my phone and I can literally see my balance decrease. It hurts much more to use my card; I spend the cash I have on hand much more quickly.

[@tonyunderwood9438]

@Nick White The same can be said with credit cards (or debit cards). We are deep into baby step 6 and do our zero based budget every month and the CC transactions show up identical to debit card transactions in Mint. If we don't have any money left in our grocery budget then we don't have any money left in the budget. Doesn't matter if I have $50k open on the credit card or $50k in the bank. Those numbers are irrelevant.

[@youngpatrick29]

Daves reasoning is quite emotional for what he claims is such a logical argument

[@fleurelise997]

He's offering a logical argument on what ppl do emotionally.

[@dreadnoughtprime6301]

I feel like you didn't watch the video.

[@josueflores4908]

Finance is not logical it’s emotional. The most logical people are in debt

[@alinatamashevich3354]

But Dave is right zoomer

[@dustinnyblom7835]

@@josueflores4908 hahaha gottem

[@Aquilesb]

4:56 I love how Dave gave him the button and told him he was wrong... Hard to debate after that 😂

[@cameronherrick6639]

"Only if it is cheaper than in the stores" well... it almost ALWAYS is cheaper on amazon.. from my experience 😂

[@code5829]

Dave says to drive to amazon hq to deliver hard cash to have the emotional friction of using cash and ignore the gas

[@laymarisol]

@@code5829 - 😅😅😂😂🤣🤣

[@BlueDauntless]

Sometimes it’s not. Have to compare.

[@PowderedToastMaaaan]

Yeah, the love for credit cards I had at 21 got me into this mess I'm still trying to clear up at 31. Listen to Dave, kids.

[@dantespo]

No

[@daleviker5884]

@ PowederedToast Man - so because you had no impulse control, then everyone else must be the same?

[@brandonrager]

I love watching him turn someone off towards the end of the conversation haha

[@davidfoulk3078]

He nonchalantly reaches over with his right hand and pushes the button while he’s speaking to the person ending the call

[@stephaniebarnett3566]

The guy called in with confidence. But in less than 30 seconds he became unsure of what he was saying and lost confidence. Man, when you call into a show like Dave's, you've got to rehearse and rehearse before you make the call.

[@duttydiesel8303]

The upside is more so having a pocket full of PROTECTED money.... But I can't agree more, that is definitely the cigarette of the financial world!

[@austinrobert8881]

Credit Cards are like alchohol. Some people can handle them some can't. His generalization that everyone can't handle and utilize credit cards is laughable.

[@Cognitoman]

Austin Bear yep...because with Dave’s logic that he explains in the video he would disagree with people goin to college because 80% of people who go to college to get a bachelors end above with no degree and a ton of debt...not to mention college is pointless now days.

[@user-bb6jy1xb7s]

yes, it’s laughable how stupid many people are.

[@kenradsstuff9273]

Absolutely!

[@charlesg7926]

Obviously there are exceptions, I’m using a credit card to build up equity to buy a house, but aside from that, I never really use credit cards

[@andraealexander364]

Austin Bear the point is alcohol is poison. The mere fact you drink it is dumb. On a grand level. lol so how is alcohol good ??

[@benb7727]

Dave was nice about it. He knew he was dealing with a kid.

[@wkdravenna]

Yep we can all live peacefully and disagree with each-other on many things. That said I am going to stick with Dave on this one.

[@alexconnor9884]

And he wasn't just telling this kid. He was telling all the kids. Whereas adults should know better hence why he's a bit more assertive with them.

[@NotShowingOff]

What neither of them want to say is that by not getting into debt, there are things you have to sacrifice. Austerity comes at a price. But also, the path to wealth in the modern economy may be slower for many. Dave is a boomer. His generation is one of the wealthiest than any other. This is the old argument that college can be paid off by an hourly wage. 30 years ago maybe. Otherwise you have to pick schools with low tuition. Not all schools are equal. Some ppl have to buy a more expensive home in order to make the commute to work bearable. I can see the car argument. Used is always best. But unfortunately credit leverage is needed.

[@logansgamingworld8137]

I was waiting for Dave to tell him he's got socks older than him =)

[@randysmith2205]

Credit cards are not bad. If you are responsible they are wonderful.

[@jacksonstewart5339]

You can tell by the end of the call Brian did not want to be on that call and wasn't listening to a single thing dave was going to say

[@christinag.7545]

It’s like a young sibling who just told your Mom something crazy lol stand back and pray! 😂

[@Devinfrbs]

I took his advice and tried switching to cash for three months. I blew through my budget every single month. I had no reference for the dollar amount left in my pocket and felt I had lots left every time I looked. Until I didn't. My credit card sends me a message with the confirmation of payment and a remaining budget balance after every payment. That keeps me in line. Though I still wouldn't recommend everyone get a credit card. Just because I handle the snake as a pet, and enjoy my pet, doesn't mean everyone can handle a snake.

[@KlassiclyRevampT]

Keep all of your reciepts, this is they way to track your spending with cash. Also it usually already is delegated for each area if you're actually setting a budget and separate the funds for each category. Such as groceries, insurance, gas, rent, ect. For Bill's you pay online simply leave that amount in your account for when you go to pay it, or put the cash onto a prepaid card used strictly just for bills. Because you've already taken the slotted cash out for that specific category in your budget. This is where the envelope system comes in handy.

[@kentrobinson7479]

@@KlassiclyRevampT EVERYTHING GOES ON CREDIT CARDS FOR ME

[@BlueDauntless]

Or you could do the envelope system and I don’t know, count your cash?

[@brandonjanasik9871]

It's ironic that Dave says "run your life like a business" yet hates credit cards. Businesses pay each other usually 30, 60, 90 or even 120 days after the receipt of goods. Also, there's a lot of protection I don't get with my debit card, not to mention the thousands and thousands of dollars in literal free money due to referrals or cash back. Credit cards are bad if you can't handle them. If you can't fine, that's your fault. But don't go touting that nonsense to the rest of us.

[@BuIIet]

I am self employed, and put my business expenses on a 1.5% cashback credit card. It pays for my vacation every year. How can dave say the caller is using fallacious arguments while comparing credit cards to cigarettes in the same breath? Not everyone has the lack of self-control Dave has with credit cards.

[@devin_leary]

Yeah, he made terrible deals that shaped how he felt about debt

[@jdtreharne]

Your vacations are 1.5% of your expenses?

[@ShreeNation]

Credit cards are great when you have a stable life. The moment an instability hits and you had to rely on a credit card (because it was easily accessible), that's when the problem arises.

[@RKmndo]

That's what an emergency fund, side-hustle, and investment portfolio are for. It's also nice to have low-interest credit easily available for the week or three that it might take to access invested funds.

[@jordanl5341]

I literally cannot understand how someone can get into CC debt. You know how much money you have. Just don't spend more than you have. It is basic math. What is also basic math is I get thousands of dollars back a year with my points.

[@KeyonHuggins]

I got into it by not having 6 months of savings, when I lost my job I had to rely on cc. It was my fault

[@eatpigsnot]

watch IOUSA, Maxed Out, In Debt We Trust, BBC special The Men Who Made Us Spend, and PBS Frontline episodes The Secret History of the Credit Card and The Card Game. and move out of your parents basement and get some real world real life experience

[@louib716]

Why would having a credit card have anything to do with whether or not you have savings? If you're living paycheck-to-paycheck and not saving any money, the credit card is not the problem.

[@eatpigsnot]

@@louib716 because you spend more and spend unnecessarily with a credit card compared to debit card and especially cash. not having savings and having debt are problems with several pieces. using a credit card is a piece, but not the entire picture

[@bgarnett09]

Jordan L CC debt and money issues in general is way more than just a mathematical issue. It’s a behavior and emotional issue as well.

[@MR3DDev]

Too bad the caller made the argument the wrong way. The argument is, today's younger generation (20-35) grew up with cards. I always had a debit card ever since I could start making money and so do many people my age. The psicology doesn't really apply when we are never used to carry cash. If I have cash laying around I am more likely to spend it because is not on my bank account. That being said, many people watching Dave's show have some extreme problems with debt and yes they should stay away from credit cards all the time

[@politicomonsoon]

TechYK agreed. And because of direct deposit and apps that let you share money like cash ( cash app and Venmo) we really spend cash frivolously like it’s not real money. Also we will need a credit score unless we live off grid

[@kentrobinson7479]

I saw somebody at WALMART with like 7 different receipts returning stuff...he over-bought...ALL OF THEM WERE PAID WITH CASH

[@Mwoods2272]

Just because you have cash lying around doesn't means you have to spend it.

[@ag4allgood]

Dave comparing Credit Cards to smoking is not a good analogy. A Credit Card used wisely can actually save you money. Saving money by 1.5% cash back is a good thing IF you pay them off every month without getting charged the interest. Pay them off every month & I still treat my purchases like the money is coming out of my wallet in CASH !

[@conradyoder6897]

I have had a credit card for 20 years and never carried a balance. After feeling the pain of “always” paying the card off monthly I hate spending on it so cash actually spends easier for me when it’s in my wallet. Oh and the 1000s of dollars in points (I always take them in checks or statement credits) have been a nice benefit too! P.S. I am currently debt free. 😁

[@arleneaugustahair8393]

Everyone’s situation and finances are completely different. If he wants to play around with credit cards, let him do him.

[@joshuawalker5044]

I don't know why, but the way dave says his opinions and wild claims about credit cards like they are matter of fact really grinds my gears. I'm going back to Graham Stephan's channel.. although I can understand why he has this fear of debt from his past experiences with it.

[@Rheologist]

You've convinced me. That's it. I'm going to start smoking and drinking.

[@vladalucardtepes]

Credit cards built my 800 credit score. I have never paid interest, I don’t carry cash and if I lose it I can cancel or lock my card. Every time I look for a credit card I make sure there is entry bonus usually of $350.00. Ramsey you are wrong on this one sir. Respect money whether is digital or paper and you’ll be fine.

[@waynemiller6070]

Wish I could like your post more than once!

[@wildkatz84]

I do the exact same thing... I’ve literally made thousands of dollars from CC signing bonuses + rewards points. I’ve never paid 1 cent in interest in 15+ years. From my perspective CC are fantastic. With that said I understand most people aren’t like me, you cant give advice to the masses that only works for 1 out 4 people.

[@dustinnyblom7835]

Incorrect

[@BlueDauntless]

You assume people want good credit. I can’t wait until my credit score is gone.

[@oldtwinsna8347]

Have taken home tens of thousands in bonus points rewards over the years with everyday purchases. Best part is sticking it to the banks by making THEM pay out money to you instead of the other way around.

[@erock1437]

oldtwins na Exactly, work that bank!

[@heyzeus6149]

oldtwins na wrong

[@I_like_turtles_67]

Yup. Keep telling yourself that LOL.

[@theprophet2444]

Whenever you pay something with your credit card, the bank that issued it to you earns 1% of that amount, I know cause I worked at a bank some time ago. And don't you worry, whatever bonus you might get by spending money, they already cashed in on you and you probably spent much more than you had to, trying to make yourself feel better but in the end it's not what we buy that brings happiness, not at all...

[@mikeyman2010]

LOL. Banks do NOT pay for those rewards/cash back to the consumer. It's the small businesses & merchant service fees being charged that do. Point is to promote the bank's products to as many businesses as possible, & getting people to use their cards at the stores. It's a win-win for the bank & the business when more people use bank credit cards to go buy more the stores' products.

[@haulingyoutube8559]

Sorry Dave but you blew that so far out of proportion

[@reecem367]

"There's no upside to credit cards." Uhhhhh, ever heard of cashback brah???

[@aeromedical6750]

@Kevin Zhou - ever heard of someone doing actual research and backing up his position? Banks are making BILLIONS off CC interest. The count on people like you buying into the whole “cash back” game. If you think for one second that the people who market these things aren’t 10,000 more researched in human behavior than you, you are living in a fantasy world. Bottom line - people who are building true wealth don’t use these things as part of a wealth building portfolio.

[@reecem367]

@@aeromedical6750 Cat got your tongue huh? Figures.

[@aeromedical6750]

@Kevin Zhou - I addressed your short sighted position. Overspending to get cash back does not validate “upside”. I’ll guarantee you I’ve prospered from not using credit cards a hundred fold from any cash back benefit you get from using them.

[@reecem367]

@@aeromedical6750 What you're saying makes no sense because as stated, I only use it for things I'd be buying anyways. Do you ever buy groceries? Do you ever buy gas? Do you ever travel? Do you ever buy anything?? Cause if so then you're missing out on hundreds of dollars per year in rewards. Its that simple. You must not be very bright if you can't comprehend this...

[@RunE076]

It’s cute how DR hates credit cards but Billionaires use credit cards instead of carrying cash with them

[@super8bitable]

Brian: *calls* Dave: I’m about to end this man’s whole career.

[@DrGamble28]

I’ll be at the Ritz Carlton for 3 nights in Maui thanks to credit card rewards. You Anti-credit card zealots can use your cash at the Motel 6. God bless.

[@I_like_turtles_67]

No sir. We can also can stay where ever we want. Just got back from a weekend Vegas trip. Went to my bank prior to leavingand pulled out 4,000 cash. Paid cash for everything including a 300.00 dinner. Put the rest back into the bank,including my winings. :)

[@jnrs9512]

@@I_like_turtles_67 so you'll gamble but not use a credit card. Lol

[@dc76384]

And your net worth will reflect your arrogance.

[@ericp1139]

Dan Lyons wth, you were walking around with that much cash in your pocket? You’re lucky you didn’t get mugged. Credit cards have fraud protection, points, and can be cancelled if lost/stolen. If you misplaced that $4K, you’re SOL.

[@broncogray1483]

Dan Lyons You are missing the point. You had to pay for your trip in Vegas. With a credit card you could do it for free with rewards you have racked up over the years.

[@markg999]

Be your own person and be smart. I didn't follow his plan and I used a CC and my house is paid for and have zero debt. I never did have CC debt and spending was never an issue though. I didn't need baby steps because getting out of debt (mortgage). This isn't rocket science live below your means stop living to impress others in debt. Dave hates credit cards because he has a spending problem and got into CC debt when younger....so it makes sense. Not saying everybody should have a CC because a good 75% I bet can't handle one at all.

[@felipebarron3479]

Can I burrow some money?

[@markg999]

@@felipebarron3479 ha no

[@alexconnor9884]

Again, he said they don't get everybody into debt but they get a lot of people into debt so you're better off avoiding them to be on the safe side.

[@markg999]

@@alexconnor9884 I agree that most shouldn't have them especially if they have spending issues. I save around 60% so not that worried about it.

[@SparkyKev]

You nailed it Mark.

[@vinceprouty6347]

Well done Dave on your answers and tone how you handled this young guy

[@code5829]

Dave you don’t know how to think logically. You don’t look into how the things actually work and affect you

[@kelvinfeliciano]

I pay everything with my credit card... It gets paid off every single Friday when I get paid. Dave not everyone is an idiot.

[@wuestion9473]

Exactly right.

[@Madcowe]

If you're talking to millions of people though, think it's easier to explain all the pros and cons and how to deal with it or just discourage outright?

[@kelvinfeliciano]

@@Madcowe I guess that is a lot easier...

[@josephramoscruz4365]

Dave. I work diligently my financial plan and use my CC to pay everything and get up to 5% cash back. The balance is paid out in full no more than 2 weeks of purchase this has benefited me in a long way with more than $3,000 of cash back in a long period of time. All stuff bought were needed or I wanted to buy it either way if it was cash or cc. How is this a bad thing if you have full control over what i spend ?

[@ivanrazo8943]

Saw the title... sits back get my popcorn out* and watch argument

[@thomashammond4229]

Thanks for all you do Dave. Appreciate your show and the genuine passion you have to help people get their lives on track. My wife and use YNAB religiously and it has helped us tremendously over the past year to get our finances on track and healthy. We are currently building our emergency fund and have about $10k saved so far. As to the credit card use, we filter every purchase through our CC and then enter the transaction in YNAB which allocates money in the assigned category to pay off the CC every month. Doing it this way has turned our CC into a debit card. We pay 0 interest and enjoy a free hotel or flight a few times a year. Of course this assumes we maintain this discipline for the duration of our CC use.

[@brandonweaver6703]

If your disciplined and have a great cashback card it’s a win win 👌

[@eduu2]

Not millionaire gets there with cashback

[@rades920]

Greatdreams that’s not the point

[@erikrohr4396]

Not millionaite get there with cashback.

[@caseyrichards3212]

@@eduu2 Wat?

[@minimumwagemoney3258]

I lied to people that I carry $0 balance on my credit card to make me feel good. Behind close door, I owe $14k... I still stick with the lie though

[@DayoAworunse]

I use my CC as if it's my debit cause I'm not trying to have my actual bank account hacked. Nor do I want to carry around cash just to be seen as a target and potentially jumped/robbed. To each their own though. 100% payments, 0 debt. Discipline & Budget.

[@DavidMay2nd]

Yuuup.

[@KlassiclyRevampT]

@Mack Black unsecured credit cards arent connected to a persons bank account. Only a checking/debit account plastic card with a visa/ Mastercard logo, or secured cards are the ones usually linked to a personal checking account.

[@05glisedan]

Credit card is a firewall between you and your bank account. Should fraudulent charges be made, cc company takes care of the issue. Debit card fraudulent charges made, you're out that amount. You have to take it up with the bank. Ask me how I know... Carry no debit. Pay full credit card balance. Takes discipline. You should be good to go.

[@KlassiclyRevampT]

@Mack Black I dont bank with Chase nor Wells Fargo either. None of the credit cards I've ever had have any connection or affiliation with my personal checking nor savings accounts. I've never had any credit cards through my bank institutions. Citi, capital one, American Express, Sam's clubs, Costco, are all their own entities I beleive is why. Banks however do commonly have a credit card logos such as Visa and Mastercard on checking account cards nowadays, but when used as a credit vs debit it comes out of your account the same as paying cash or using the debit option because it's not a line of credit. The only one that would do the opposite are credit union type banks. With credit card companies they give you a max line of credit, interest is accrued if not paid in full within the billing cycle. A credit union will offer the same but it would also be attached to a back up savings account usually that a minimum must be kept in. That's the difference I am talking about regarding your first comment.

[@kentrobinson7479]

My CREDIT CARDS pay me...CASH pays squat

[@esonon5210]

Dave's strawman argument game is on point.

[@goldenTym]

I've seen it both ways. I know some people that spend less when they have to do it in cash, and I know people that when they have cash on them they feel the urge to spend it. It can vary from person to person.

[@samanthaquant7411]

Dave is being SO polite to this upstart 😂

[@LookOutside...]

none of Dave's examples made any sense.

[@LookOutside...]

Karen you’re a nice person. And it only takes one brain cell to figure out how to use credit cards to your advantage. And mortgages.

[@Goat.Cheese]

You're right. His analogies were totally nonsensical. He just wanted to make his point soooooo badly that he will reach for arguments that dont really make sense

[@simonegiuliani4913]

The upside is the credit score boost. Get a credit card and pay it in full every month... If you are so weak that you have to spend more than you have every bloody month, consult a psychologist.

[@RichTalk_nikRich]

Just cause I disagree with you doesn’t make me wrong 😂

[@keetis89]

Haha, regardless of your stance, why would you call and try to convince Dave Ramsey that credit cards are good? You can have your opinion and as long as it's working for YOU, no one else can really tell you you're wrong.

[@triniscorp]

Credit card companies don’t want you to feel pain. They want you to go painlessly into debt. They know if it hurts you wouldn’t do it. I don’t understand if you have the cash for something why would you still use a credit card regardless of the interest rate. It’s just prolonging a purchase and risking the chance of falling into debt.

[@mattpalmq]

Jody Blake I use my credit card to purchase things I would've purchased anyway and then pay it off right away

[@randomvideosn0where]

Because you get rewards, the gain is 1-5% back when using a credit card.

[@PraestoPerformance]

Lol. Only the wealthy understand how great of a tool credit cards can be to build more wealth.

[@alexconnor9884]

@@PraestoPerformance But you're not wealthy and Dave Ramsey is and he's against credit cards. Sooo...

[@randomvideosn0where]

@@alexconnor9884 Over the internet it's hard to say who's wealthy and who's not (also wealthy is relative). Also for someone like Dave that brings in big bucks, 1-5% back on his spending is negligible compared to someone earning the median income under $60k. However Dave is right that it takes a special kind of person to use credit cards without spending more or paying interest.

[@sunsetatshabooms4558]

I finally like the way Dave put this with the cc. There are a few people out there who feel the pain of each purchase WITH a credit card. We pay our credit card 2 x's a month and believe me every time I charge something, I see that money coming out of our account and think about each purchase. For the most part, I think most people cannot be that responsible with credit cards. As a financial advisor giving advice to millions of people, not just a handful, I think his advice needs to be AGAINST credit cards.

[@pawsnotclaws2772]

Oh lord a fights about to start 😂😂😂

[@Nateaverse]

How old are you 😂😂😂😂😂

[@Ethiodawg]

Nathan Tesfaye Habeshas in the house! I am too. Boy I’m murdering my School loans. How are you on your debt free journey?

[@loc4725]

Yeah after a few seconds of the caller speaking I was thinking "You sound like someone who's really inexperienced and not used to debates. Are you in your 20's?".

[@cam4short]

😂😂😂😂

[@RKmndo]

Why does age matter? Graham Stephan probably has a higher net worth than most people that are retiring this year. Elon Musk was wealthy YEARS ago. He's still well under 60. Kanye is under 50. Grant Cardone is younger than Dave too.

[@infinitejustice2991]

I can see your point, Dave, but to me I find more beneficial when using credit cards than paying cash for everything. Not only I have the complete realization of my financial capability, but also I'm very disciplined person. That means I always pay my credit card bills fully on time and I don't go buy extra stuff that I don't need for the sake of collecting credit card points because I know the pain center in my brain will be activated once I got my credit card bill at the end of the month. With this being said, the upside of using credit cards is that you discount everything that you buy.

[@Luis.Feliciano]

There is a downside to not using credit cards. Because credit card usage is so wide spread and there are so many banks offering credit card rewards the fees that merchants pay to accept them have gone up. Merchants just do not absorb that cost they pass it on to consumers. So if you are someone paying with cash, or even a debit card, you are paying for someones else credit card cash back or rewards.

[@Krustykrabpizzas]

I have 12 credit cards, 0 debt they call me a credit card churner

[@user-zq4ec5xp7t]

Ive only had my credit history for 9 months now, i have 5 credit cards (my main card is a cashback card), and so far I've paid £0.00 in interest or fees (because i always pay off my card/s on time and in full every cycle). I treat my card/s exactly like a debit card, its a win win for me and the banks, i can't see ANY downsides to credit cards, as long as you're not stupid, credit cards are VERY powerful tools for consumers.

[@joshualantz8915]

Yep that's what smart people do smart people use credit cards and make money doing so other people use cash and don't know what they're missing out on...

[@tjbowman68]

Are either of you 3 guys/gals millionaires? I’m betting not.

[@coorsleftfield]

@@tjbowman68 I am, and use credit cards all the time without paying any interest.

[@notclaire612]

Tony Bowman there are millionaires that churn credit cards. Look up Graham Stephan. He’s all about that.