I Can't Let Go of My Credit Cards Because of the Rewards!

[@TheRamseyShow]

Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3hc6Pgt

[@EliteQuarTips]

I bet you don’t believe in good debt either LOL

[@nelvarita1644]

@@EliteQuarTips &

[@superslyko123]

When I was a beginner, I took everything Dave said as gospel. Now that I have some maturity & common sense, I can pick & choose!

[@TheRealAbrahamLincoln]

Yup, he is spot on with many topics, some he is off in left field.

[@candymanAM]

He's the finnacial advisor for degenerates. Once you've crawled out of the hole you move on to bigger and better things but he does help alot of broke people stop being broke.

[@Sam-dc9bg]

@@candymanAM This. Better to follow his words than to be one of the many Americans that are in debt for life because they won't listen. When you are in the hole and addicted, you need to be treated as a patient.

[@Billman8686]

Alot of pride in here. Dave teaches from broke to wealth and knows human behavior. But yes keep saying how smart you have become!

[@msfitbrown48]

@@Sam-dc9bg this!🎯🎯🎯🎯🎯🎯

[@WhatDaBidnessIsCuh]

“DONT USE PLASTIC!” “I use a debit card” Hate their argument on this topic

[@666dynomax]

dave had to update slightly from his "cash" only... not a LOT of difference in the "emotion" of the CC vs debit card ...

[@theraddadinvestor1000]

Hahahahaha

[@ramshambo2001]

yeah, he really off on this, needs an update or work on helping people manage using currency in the 21st century. Avoiding it completely is not a real solution.

[@om617yota8]

I think Dave is forgetting that a huge portion of people these days never grew up with cash the way he did. It just doesn't have the same impact for anyone in their 30's or younger.

[@theraddadinvestor1000]

Exactly!

[@rayjgold]

Yes, his studies are outdated..... He has to find another way to trick people into spending less......like the envelope system mentioned here. But note, these are methods only needed by people who cannot control themselves and their own finances.

[@littlebob1261]

@@rayjgold Right? We did a study in 1987 blah blah blah

[@madison_kr]

I know this is an old comment but I would love to see that study done again on a younger generation. It seems the younger the person the more affected by the number on the screen vs cash. I'm a millennial and 10 years ago I had friends that could not hold onto a bit of cash because "it felt like free money that didn't count" since spending it didn't affect the number in their bank account.

[@nrut1174]

I feel like they are dodging the question. Mentions how cards don't have the same effect as cash when he encourages debit card use. Points aren't for a source of income it's a bonus at the end of the year to take a trip or get gift cards or even just pay off your purchases.

[@charlestaylor4009]

They are avoiding the true essence of the question

[@sbentsen2714]

True. I just collected my rewards that is paying for my next tattoo 👌🏼😄

[@stevenashwood1090]

Yes but how many people pay off on time? I don’t know if anyone. I even forget sometimes and I have the money to pay it off. So your losing out

[@jlogan2228]

@@stevenashwood1090 people keep saying that but ....who cares....if YOU are being responsible it doesnt matter what another persons doing

[@aorusaki]

But you may spend more than what you actually need/want just to get more "rewards points"

[@BruceWayne-m6g]

Literally have made over $10k in cash back and have paid exactly $0 interest. I have to disagree with this.

[@RealGalaxyGamers]

You missed the whole “you pay more”part. Dave’s whole point.

[@metaltera86]

@@RealGalaxyGamers How do you pay more if you spend the same amount if you were to use a debit card?

[@jdtreharne]

And it only cost you what? Half a mil?

[@rayjgold]

I agree, I was against Ccards for many years......but then a got an offer to get 300 for using this card and spending a certain amount a month.....so I just did it, since I paid that amount with my debit card a month anyway......I got the 300, plus thousands in cash reward after that.....paying no interest. Sometimes I feel bad that they bank is giving me all this money and I dont give them anything.... But I definitely feel bad for not starting to use a rewards card sooner.

[@om617yota8]

Girlfriend has a Costco card, which she uses as her debit card. Never carries a balance, never pays interest, only buys what she has cash for. $1200/yr in rewards, just for buying what she was going to buy already.

[@concertvids34]

I love dave but he avoids the question about using a CC to pay utilities and other bills you pay off every month. The Majority of Americans shouldn't use a CC because it would get them in more debt due to a lack of discipline. However there are people like the person who asked the question who can pay the balance every month for bills they have limited control over.

[@theeffectiveprogressive]

Absolutely agree. Many of the strategies are illogical if we assume a person has control of their finances. The CC, paying down a low interest mortgage etc.

[@fitnesschallenge1000]

Lol I just made a post and exactly what you said. He avoids the question. I should’ve scrolled down and read first. Could’ve saved time ranting.

[@TomOwen987]

I think being a debt centred show, the assumption is most people are not in control of their spending. I like a lot of what Dave says, but this makes no sense

[@concertvids34]

@@fitnesschallenge1000 haha no worries. But it’s true he avoids the specifics of the question.

[@user-tb7rn1il3q]

If you pay cash for utilities at the local office you will freeze in the winter according to his research.

[@kurts3779]

I can tell you I feel the exact same thing when I pay with cash or card. No difference for me.

[@TheSwissChalet]

I’m betting you rarely, if ever, pay using cash. So it’s really not comparable for you.

[@TheJozuaSmit]

@@TheSwissChalet I feel the same way and I pay almost everything in cash tbh

[@theraddadinvestor1000]

I think that's the same for everyone besides Dave lol

[@phrog849]

@@TheSwissChalet The only thing I feel paying cash is the frustration from the underpaid cashier that she now has to make change for a twenty.

[@britneeg]

I track every expense I make. It all hurts!

[@jamesmcclintock5624]

I budget every single purchase the day it is purchased... I use debit cards and Samsung pay. I FEEL every single purchase and SEE the effects on our monthly budget. These arguments against card usage only work if you don't budget and have the mind and discipline of a child.

[@lr4454]

Agree 👍 I was like all my debit purchases hurt when I see my balance lowered each time lol 😆

[@Randomcollectionofletters]

Psychologically, it’s easier to go over budget on a card transaction since the money doesn’t physically leave your hand. Consider you go to store with a budget of $100. You go to cashier and he rings you up for $102. It’s easier for you to forego that extra $2 because it’s in your bank account. If you went in with $100 cash and were $2 over, you would need to return at least one item to checkout. I have a budget and am very financially disciplined but I have fallen to this psychological trick time and again.

[@benhargrove7969]

Huge point. 👍

[@crazyleaf257]

Yes yes yes yes yes yes yes

[@OneOfMyriads]

@@Randomcollectionofletterspsychology doesn’t translate into practice with self discipline

[@raully3277]

I’m about to get $500 cash back from my CC. I have literally never paid interest on my cards. Am I going to become a millionaire off my cash back? No. Is it nice to have the extra money during the holidays? Yes.

[@ArntArnesen]

How many useless items have you bought to get your 500 dollars rewards? A LOT more than you would have done with cash.

[@SlippinJimmy007]

@@ArntArnesenif you’re on a strict budget which (which Dave recommends) you’re paying the same every month nomatter if you use debit or credit. Except credit gives rewards.

[@mdees88]

​@user-ct1kh2if8j That's not always the case. I quit using my debit card and I buy everything on a 2% cash back credit card now. Bills, gas, groceries, etc.... not useless things. I pay my balance off every month. I have never bought a single item that I wouldn't have bought with my debit card. I get over $500 back every year. You're not going to get rich off of it, but it's "free" money if you're responsible enough to never carry a balance.

[@RoxiieSays]

CCs definitely aren’t for everyone. But this is where I’ll always advocate for a CC for responsible people! If you are one to stick to your budget, and you pay your balances in full, there is NO NEGATIVE to using your CC for all purchases and reaping all of the rewards. Sorry Dave!

[@mikesmith-wk7vy]

He does say it can work for the very disciplined and calculating people but that’s the few

[@hollyb6885]

I agree 100%. I’ve used them for years. I never paid any interest. I stick to my budget. I charge everything that I can. I use the cash back for Christmas or vacation. That whole ‘it hurts more if you pay with cash….’ thing is ridiculous. Dave is wrong on this.

[@user-wq5ws1qs7x]

I agree. I put everything on it and at the end of the year I get about $1000 cash back from Costco.

[@BrezzyBoi33]

They make you spend more money

[@britneyog9537]

Agree.

[@2hrsToChooseThis]

I don’t know anyone that pays with a card and doesn’t acknowledge that they now have less money.

[@666dynomax]

Get some friends

[@ClaxtonBay123]

That’s a very common thing. That’s a big reason for CC Debt

[@666dynomax]

@@ClaxtonBay123 i think you need to re-read the comment from travis

[@BetYouHateMeNow]

@@ClaxtonBay123 and the reason why the C.E.O's each got 20+ million in salary and stock.

[@theraddadinvestor1000]

Yup!

[@marcenelj]

I have coded my brain to feel the same pain level when using CC the same as using cash.. I'm not an impulsive buyer. I don't buy stuff that I don't need just because I'm using a CC. I'm an engineer. I know how numbers work. If I buy something, it's because I NEED it. I usually wait a week+ to buy something that I want. Works good for me

[@mikenelson8377]

But it’s not a numbers problem. It’s a behavior problem. Your “engineer” job or whatever is irrelevant and honestly no one cares about. 🤦🏼‍♂️

[@Garebare1]

Island Societe you have no idea what you’re talking about. “Often bad with behavior”??? Where are you getting that from? That’s not true at all. All the engineers I work with are great with money and doing very well and they use CC

[@donmcilroy]

This advice is for all the people who can't control themselves. If you are going to get a rewards card for this purpose... get a cash back card. Real $$ only. You have to remember who he is talking to.

[@LiveFreeOrDie-]

Yes. Cash rewards are the way to go

[@Sfount]

I have mine linked with my Amazon account and use it when needed. I save the cash back from like June-Dec and right now I have like $300 for Christmas saved. Bills and groceries and everything paid off every month 🤷‍♀️

[@shane123car]

Not much I disagree with Dave on , this is one. Made $2500 on my cards cash back this year.

[@scarpfish]

No you didn't. How much did you spend to get that $2500? Was it all spent on stuff you absolutely needed and budgeted for?

[@avapilsen]

@@scarpfish My brother owns a business. I told him to max out one of my cards by putting his typical business expenses on it. He payed it off by the end of the month, somewhat treating it like a debit card because he already had the money saved. I put $250 in my pocket without spending a dime, nor my brother. What does that mean? I just saved $250 on a flight ticket!

[@metaltera86]

@@scarpfish Lol it could have been gas, groceries, utilities, even the mortgage. But guess what it could have even been things he didn’t account for like eating out, Black Friday shopping, etc... stuff he would have bought anyways no matter what form of payment was used!!!

[@EJ84x]

I don't understand how your paying more for something using a card than using cash (except at gas stations sometimes). Is it because people impulse buy? I personally put everything on my cards, pay them off every month, have not paid interest once (in 18 years) and have all my money budgeted. Can someone better explain to me, just want a better understanding if anyone has a video or something explaining it.

[@blackworldtraveler3711]

He’s just talking about financially stupid people. It would only make sense to them I guess.

[@LoPiccolo.]

Dave and his crew don’t listen to people like you. They will hear that and still tell you that you’re an idiot to thinking you’re winning and to cut up your cards. I like seeing people like you to prove that CCs can be rewarding if used correctly. I like Dave but I disagree with him on CCs. Yeah, I can see why he’s against them because of the people out there who use them irresponsibly and get themselves into bad debt. But whenever someone comes along who’s smart and responsible with their cards, Dave still says to cut them up. Btw his card vs cash example sucks. Most people nowadays use debit cards so I feel like they still know how much they’re spending. That pain of spending that $100 is still there.

[@revolve9073]

@@LoPiccolo. Exactly my thoughts

[@Randomcollectionofletters]

Psychologically, it’s easier to go over budget on a card transaction since the money doesn’t physically leave your hand. Consider you go to store with a budget of $100. You go to cashier and he rings you up for $102. It’s easier for you to forego that extra $2 because it’s in your bank account. If you went in with $100 cash and were $2 over, you would need to return at least one item to checkout.

[@Jessica_Jones]

@@Randomcollectionofletters I think the issue is that the psychology is totally correct (even for those who think they are exempt), but his argument is weak when he does use a debit card himself. I always watch these hoping for more compelling information against it but I'm always left wanting.

[@WhoDeanyUnchained]

Dave: "Don't use plastic!" Me: "No problem, my cards are metal"😎

[@theraddadinvestor1000]

Lol

[@achavez78]

Same here.... All my cards metal. I cant be seen using a plastic card like a regular normie

[@aedendchau]

This made my day. 🤣

[@RoxiieSays]

Lol same!

[@achavez78]

@WhoDeany what metal cards you got in your roster?

[@Jim_Curtis]

What Ramsey leaves out is that people spend more with plastic when they have NO budget. If you stick to a budget, plastic can just be like cash. It hurts to pay the bill for the card just as much as when you pay it in person. Budgeting is the key to everything.

[@alexgosser5587]

Honestly - it makes sense you spend more money with plastic than cash. It’s not sensible nor safe to carry large amounts of cash on you. If you only pay with cash - you’re going to be sending less money as a result.

[@Jim_Curtis]

@@alexgosser5587 I think it depends on the person. Without a budget, people who cash their paychecks spend all of it and then are short to pay other bills. I agree what they say is probably correct for the majority of people out there.

[@alexgosser5587]

@@Jim_Curtis I think you may have misunderstood me. You will always overspend if you don’t budget. My point was that if you don’t have instant access to those funds… your spending is capped.

[@Augustin54]

Going inside the gas station also significantly increases your chance of buying some BS snack or drink you don’t need (which is also how gas stations actually profit)

[@KennTollens]

The problem with cash is that you can't buy things online.

[@angel-ij4xv]

use a prepaid debit card dah

[@Carib6855]

Visa Debit my guy.

[@mikojenson4525]

@@angel-ij4xv So PAY a fee to buy a card.... Instead of getting cashback by just having and using a credit card. This is where Dave's backwards credit card views lead...

[@T.JAY.DEE.]

​@angel-ij4xv so waste extra gas (money) to go to the store to put money on the card, then waste gas to go back home to spend more money?

[@dbag57]

You dont need a cc to buy things online 🙄

[@koreypaul6698]

Dave will ride this till his grave lol

[@theraddadinvestor1000]

He can't admit when he is wrong!

[@ramshambo2001]

lol yep, his ignorance on the topic is laughable

[@jamesf8783]

And y'all haters will keep wasting your energy hating on him lol

[@johnd9279]

Dave's right, I feel more pain spending cash. My credit cards let me avoid that stress, I'm at peace with it.

[@HyDroSoniK]

Makes the argument about plastic then says he uses a debit card. I love Dave but this view is jaded.

[@theraddadinvestor1000]

lol

[@carlosgutierrez2789]

This will forever be the topic that I disagree with Dave on.

[@theraddadinvestor1000]

Same!

[@nataliazakula3400]

You have the focus and discipline and awareness. So go get your rewards! Most people are walking zombies.

[@Dreamprism]

Keep using them if you want. Just don't ask Dave about it.

[@andreaw357]

I do too. I am debt free and only charge what I have budgeted for. We save tons on travel. I only travel using rewards primarily!

[@gauldenj1]

Same here dude. Just because CC don’t enact pain receptors in the brain doesn’t mean you can’t be disciplined about using it.

[@JBrown-go8ru]

I’m here for the comments, and Dave’s typical one-size-fits-all answer.

[@theraddadinvestor1000]

Hahahaha, Love it!

[@crazyleaf257]

Couldn't have said it better

[@fernandomartinezreyna1836]

Do as you wish. Why you gotta ask a man? If you benefit on it then do it! I have a cc I went to a fast food restaurant they charged me $22 for a meal, I reported to the cc company and they reimbursed me $10 on that meal within 24 hours. I’m sure if I would have done the same with a debit card they wouldn’t refund me my money back and if they did they would take for ever. I love earning points on cc, I don’t care what anyone thinks. I pay off in full at the end of the month, cry me a River.

[@Earstolisten]

You just proved the “man’s” point. You swipe carelessly, never would’ve overpaid using cash. Smh

[@BetYouHateMeNow]

@@Earstolisten lol walked right in to that one

[@warsaw5934]

@@Earstolisten you’re reading comprehension is trash lol - probably a good thing you don’t have a CC cuz I’m not sure you could handle it. OP said that the restaurant mistakenly charged him that much, not that he over-spent. CC companies give you your money back super fast if there are mistaken charges/fraud on you account, while normal debit cards do not.

[@Earstolisten]

@@warsaw5934 “You’re“ grammar is trash…lol

[@tcgtpl]

How many of these studies include subgroups that actually budget their expenses? Answer: None. Therefore, this straw man argument fails.

[@jdtreharne]

That's not a straw man

[@theraddadinvestor1000]

He will never understand when he is wrong.

[@crazyleaf257]

He does the same thing with investment apps while it might not be the best thing in the whole world compared to a professional investing for you it's not as bad as he makes it sound but he doesn't really know much about it he didn't really research it before giving his opinion

[@mikojenson4525]

He has a financial incentive to not be wrong.

[@yoddy0]

I only do cash back cards because airline miles only promote spending more money on trips and such. Cash back in my mind is like getting a percent match on my money and then just transfer it to an investment account to make more and of course I only spend what is budgeted no more no less. Most people probably aren't financially responsible to handle credit cards but for us that are its a nice little opportunity to take advantage of.

[@bedantasaha5699]

Dave answered this ages old question incorrectly thousands time.

[@Michael-vf2mw]

Yup, don't you love how he also completely fails to explain his reasoning that credits cards should never be used, but debit use is fine? They're both plastic, and both apparently dull the emotional pain receptors.

[@bedantasaha5699]

@@Michael-vf2mw Exactly. In fact I started using cards when I started earning money and to be honest it is more emotionally painful for me to pay from my card because paying cash simply means that money was already out of my account. I am not a hater of Dave, then I wouldn’t be here at all but every time he answer this question I expect maybe this time he will correct himself but he disappoints me every single time.

[@aightm8]

As a cash customer you pay for other people's rewards. The 2-3% fees are factored into retail pricing

[@fhuber7507]

When I have cash... It disappears. I avoid buying if I don't have cash. I know this isn't the way most people are.

[@MichaelAnderson-wk1no]

I think the very fact that it disappears causes me to spend MORE when I'm using cash. There's no paper trail, so it feels too much like "play" money. It may be a generational thing.

[@evansutton6760]

Same

[@Jessica_Jones]

@@islandsociete that's a really great point. All or nothing really would be the key. ...But then both of these guys are talking about debit cards and paying for Starbucks with a watch so it's kind of hard to feel motivated to try it, ha

[@rosgyallay9529]

I treat my credit card like a debit card and have traveled overseas 3-4 times for free in the last 5 years.

[@__RD14533]

The guy said that the only thing he ever charges are utilities & other bills what he HAS to pay anyway & you two refused to actually address him. You just said “well most people spend more than they would have”, except HE ISNT so why should he stop?????

[@davyhoogy]

Exactly. I hate their standpoint on this topic. They’re saying you don’t notice when you don’t pay cash, THEY ARE PAYING IT OFF straight away. 8/10 don’t use the points, that’s everybody… no it’s not Dave it’s 8/10! They have stated they use them.

[@__RD14533]

@@davyhoogy it’s because Dave went bankrupt after taking out a bunch of VERY high risk loans, that were called on him. No he is just anti any debate, because he was irresponsible with it. 🙄

[@jlogan2228]

They ALWAYS dodge the question like that. Like instead of hey DO WHAT THIS GUY IS DOING they are just like oh Yall are all too stupid and irresponsible

[@lag3432]

False. Soon as I swipe my card I’m checking online the transaction, it’s like I have cash on me. Older folks don’t like changes.

[@Rashaadthegr8]

It's all about budget. I hate cash. I feel like a victim walking with cash.

[@theraddadinvestor1000]

Yup!

[@SomeBotOfficial]

Try tracking everything every month, multiple credit cards just for points. I see peace of mind and paying it off way more valuable than a sad 2-3% back. Also i hold off on buying things, makes me save like crazy

[@gvanys]

Dave needs to understand people barley uses cash this days everything is electronic, you order everything online include grocery for delivery and allot places dont even take cash.

[@crystalsnow1138]

But you can use a debit card.

[@gvanys]

@@crystalsnow1138 debit card dont feel the same as cash on your hand when spending it ask Dave it's still a plastic.

[@theraddadinvestor1000]

yup

[@crazyleaf257]

And people are still responsible and budget and careful and aware

[@jollama]

Barley is a grain

[@thelovelykimmi7920]

It hurts when I use my plastic because I rarely, if ever, carry cash. I spend more when I have cash because I don’t like change or to keep it on me. Different generation 🤷🏿‍♀️

[@crazyleaf257]

Good point

[@CLJlovesmal]

Yeah used to use cashenvelope but always had an issue spending. Then I'd go over on something and struggle to keep envelopes right after that. Cash just goes through my fingers. Credit/debit I am checking my account right away.

[@majorlagg9321]

I can remember as a kid, we would pile into the car and our first stop on our day's errands was the bank to withdraw the cash we needed for the day. I closed a credit card account yesterday and the bank warned me not to do this just yet because I had $25 in "rewards" left. I told them to keep it and moved on.

[@michaelleahy6848]

When cash is actually viewed as an inconvenience by the vendor, you have to adjust.

[@blackworldtraveler3711]

People are going to run out of places to go with cash.

[@mathisnotforthefaintofheart]

If a vendor does not accept my cash, I will shop elsewhere. I am not saying to buy a $1000 item with cash, but small single or double digit amounts I do very often with cash. I support the mom and pop stores that heavily rely on cash.

[@Bertuzz84]

@@mathisnotforthefaintofheart Why would small shops need to rely on cash when they can join the modern times and use contactless payments for debitcards. It's much cheaper faster and safer than cash or a creditcard.

[@lynnebucher6537]

I don't like those travel rewards cards for exactly what Dave says, the redemption rate is poor. Ditto with the cards that require you to use the rewards on merchandise. The cash back cards are another story. I use those and redeem the rewards regularly. In general I only spend on necessities anyway. It's kind of funny how Dave talks about the gas costs. It's not like you stop driving because gas is high.

[@jollama]

lol that’s your fault for not redeeming at 2+ cents per point

[@henrikhkarpynskyi8712]

After mentioning apple pay and Starbucks - I thought he will be fired on live air :) :) :)

[@cutlerylover]

Its funny I know so many people who dont like cash simply because they dont want to carry change (coins) lol...

[@xDynastyHD]

I stopped carrying cash because I was losing money 50cents a day lost is $13,000+ over a lifetime

[@blackworldtraveler3711]

I know I don’t especially after spending two months in Hong Kong.

[@pey7777]

I purposefully avoid businesses that don't accept some form of card. If they're "cash only" then I won't go there

[@mathisnotforthefaintofheart]

@@pey7777 Strange, I support cash only businesses and I vehemently avoid a business that do not accept cash, which is by law legal tender.

[@ClaxtonBay123]

That’s what Debit cards are for.

[@OneOfMyriads]

If you can budget with cash/debit card, you can budget with a credit card. You could get thousands of free dollars on your plate that you wouldn’t have had if you used cash / debit card. If you can’t control yourself, then yes, cut them up.

[@bethanychristiansen7499]

“Kiss the Ring” 😂😂 Made my day!!

[@silvesterbaez1523]

Uncle Ramsey I appreciate everything you do and I know you take the opportunity to go deeper into this topic. However, the question posed was about money you are going to spend anyway. If this is used on things like utilities and other bills, and you are someone with discipline, what is the harm? Consumerism and behavior economics is a topic we ought to be discussing more. I agree, but again, what is the harm if it is money you are going to spend anyway? Listeners are looking for your specific answer to this specific question outside of the brain while spending. We understand that is something we need to pay attention to as well.

[@1212holden]

I’m so sick of him quoting that study because anyone from my generation views cash as a coupon. It’s not real I feel nothing, when the notification dings on my phone for using a card that’s what hurts because I see my balance drop in real time. (Besides the fact I’m going to Japan this year completely free because of my credit cards)

[@mikojenson4525]

Paying cash nowadays for normal purchases incurs at least a 2% penalty over using a CC. Dave calls people dumb for doing the mathematically correct thing.

[@theresaglass1831]

The way I look at a credit card versus a debit card is what each card represents. Credit card represents money I don’t have a debit card represents money I do have in my checking account. Enough said.!

[@artemthetrain14]

I wonder if this is a generational thing. I've used plastic ever since I got a job. I only think about the balance of my bank account - the balance on my CC (which I pay in full every month). Whenever I have cash, it feels like extra play money to me and I don't even consider it in my budget.

[@TheDjcarter1966]

I say it is 💯 OK to do this if you never, ever are one day late on paying the entire balance. There is no extra attachment or spending in your electric, gas and water bill. But the day you don't pay off the entire balance at the end of the month cut it up.

[@kvgolfa]

Yeah no shit no one makes million with credit card rewards. But every millionaire I know (and I know a lot) uses credit cards

[@sal5604]

What did he say? "90% of millionaires didn't get rich off or points." That may be true, but you best believe they used points to offset their daily spend. All you're doing if done right is maximizing value. It's funny he calls people like me a "broke person with a theory". You want to know what my theory is this year? I don't have to spend a dollar on gifts this year because I accumulated enough points for daily spend to buy everything with points.

[@reckklr2219]

Dave always talks about the exception. 1. I’ve had my CC for 20+ years, I only paid $45 interest fees in that time and I was upset. 2. I pay off my debt immediately within 24 hours. 3. I cash in my points for cash direct. In the last 12 years I’ve cashed in about 2K a year that I use for Christmas. The lesson here, be the exception.

[@jollama]

Imagine paying credit card interest

[@SirGleave]

If his point is that you spend more when you use a credit card opposed to cash, why does he willingly use a debit card as opposed to cash? He used the whole cash analogy even though he doesn’t even use cash.

[@joev8504]

Need to use cash to activate the pain centers of your brain. Next sentence, using a debit card is fine. 🤣🤣🤣

[@DoTheDomThing]

I feel the pleasure and pain on every purchase I make, especially the ones that are practically high way robbery.

[@crazyleaf257]

Yes! I really only buy things I need and I think about buying something I don't need for weeks and months before finally doing it. I'm very careful frugal methodical

[@imherefornowbutnotlong]

I totally agree with Dave, I dont believe in credit cards. They are a scam.

[@esonon5210]

But I can't pay my mortgage or any of my bills with cash.

[@Joshuastem5622]

How would you accidentally forget to pay and pay interest? It’s called auto pay Dave.

[@williamerazo3921]

Capital one is the worst CC. It’s for poor people

[@karenmm]

"Tiny king", "kiss my wrist" 🤣🤣🤣🤣🤣 this episode killed me lol

[@RookiexLee]

There's absolutely nothing wrong with travel cards

[@marbs8615]

this might not be the channel for you then

[@RookiexLee]

@@marbs8615 Are you a sheep?

[@miketheyunggod2534]

This is BS. your bills are your bills. Your electric bill is NOT larger because you put it on a CC. Your cable bill is NOT larger because you use a CC.

[@seugene7040]

Dave’s argument on this topic makes absolutely no sense. Kind of like his idea of a $1000 emergency fund. 🙄

[@Paxevo]

“The largest study ever on millionaires ever conducted reveals”…….that the overwhelming majority of millionaires use credit cards to handle payment processing. A chick fila sandwich costs the same whether you are using cash or debit card. Using a credit card I pay 4% less than the person using cash or debit. Of course you can use strawman, ad hominem, and other logical fallacies to try and make your argument against credit cards, but there are better, less intellectually lazy ways to make your point that credit cards can be harmful to a person’s net worth.

[@talyahr3302]

If you have discipline or simply a set of rules like this person wrote, to only use the card for utilities and necessities I don't see the issue. That makes that MRI study irrelevant.

[@mra95662]

I use my CC for everything. I was recently the victim of a skimmer at a gas pump. CC had always been in my possession, yet the card was charging up thousands of dollars all over town,in a few hours. I did not have to pay a single cent for this fraud. A debit card would have drained my checking account and had a much longer resolution time, only if I caught it in time! Credit cards are safer if used correctly in todays world.

[@zward0522]

I pay my credit card off every month, and have never paid any interest. Therefore I will not feel guilty about keeping and using them. And does Ramsey consider the effects of not having a credit card?

[@trumpshare]

My daughter is 17....as we've taught her the value of her income she see's more pain on her debit card balance than the cash we give her as she see's cash as something to waste...really! Its a generational thing!

[@LuisTorres-lo8qj]

I will keep thinking about it. Next year I will give you the answer...

[@dannysaenz7948]

This guy is rich. His rules don't apply to those of us who have found a way to beat the man. Zero interest paid is simple math. It equals zero. He's like my dad, that still believes there is no motor equivalent to a v8. Lol

[@Realestbruhh]

You have to spend a lot of money to get the lowest reward 🤦🏽‍♂️😂

[@666dynomax]

2:00 don’t plug Rachel that’s not her line it’s daddy’s. Poor Rachel. Ramsey solutions isn’t going to be the same without uncle Dave

[@genxx2724]

Poor Rachel is right.

[@dafeck5574]

I use my phone calculator and copy/paste every transaction for my debit card uses. It still hurts to see the balance go down. At least with a debit card, one doesn't have to carry the annoying loose change that end up getting unused or lost if I used cash 😅🤷‍♂️

[@zakkrick]

Just like the casino. I won 1000 eight different times and I lost 400 each time I’ve visited the casino, about 40 times I visited the casino. The HOUSE still won. That one time you won 1000, you thought you won big, but that’s how the casino get you to come back to the casino. The only way to beat the casino is to save your money and not lose it to the casino. It’s been 5 years since I’ve gone back to the casino, been saving a lot money now. Lesson learned

[@kingtizzy007]

Lame logic from Ramsey on this topic. Keep putting it on your CC, pay it off and earn those rewards. Simple.

[@jrwntctv8091]

There are no rewards.

[@avapilsen]

@@jrwntctv8091 yes there are.

[@Joshualibbyy]

I'm sorry Dave. U are straight up wrong.

[@ren6510]

It's pretty simple ! If you are a constant spender with a habit then get a card with rewards .. if you have money management skills DONT! Because what happens is , the people who don't spend much ends up trying to spend more to say they got rewards when they could of just saved the money like they usually do ...

[@viethuynh6808]

Sorry, but Uber doesn’t take cash.

[@tasoanastasio]

Try paying with cash at any Starbucks. You wont see a machine asking you for a tip after your transaction.

[@MP-nj1qy]

"Their buildings are taller than your house."😂🤣😅

[@theraddadinvestor1000]

lol

[@ONLY1KUDWE]

The difference between a good thief and a bad thief, you don't know the good thief. I think the obvious way to know you're being charged more (whether you believe you are) is when they are able to give you stuff back.

[@mizzsamz]

The Disney analogy is spot on.

[@austinluepkes5484]

Just a thought. Say you spend $100 to make $120. Your profit is $20. Had you saved just $2 your profit is up 10%.

[@carstuff4u942]

Dave can't backtrack on his CC theory. Once he does, his teaching will start to unravel.

[@jcatalan1496]

he said if you use plastics to pay you feel nothing so plastic is the issue good thing my cards are metal ahahahah

[@crazyleaf257]

I wonder what the age range of the millionaires are that he interviewed. If they're all old this would make sense but there are millionaires who are young that go against his rules

[@ceciliajohnson8812]

i needed to hear this today

[@adipratapsinghaps]

So is it just psychological?

[@richthepup]

Yep

[@blackworldtraveler3711]

To the financially stupid it is.

[@adipratapsinghaps]

I mean, don't get me wrong. If it is just psychological, it is still a big issue. Infact the biggest of all.

[@adipratapsinghaps]

@@blackworldtraveler3711 Says the one who barely read a book

[@coconutsfor2963]

I would love to hear this question in a cashless society . Coming soon , will be waiting for Dave's rebuttal .

[@joeberg5248]

“Internet funny money” ~Dave Ramsey

[@coconutsfor2963]

@UC09QmPFNlr4bmmFBgtFQgFw your still using plastic not paper fiat

[@scarpfish]

Cashless society? You must have more faith in the electrical grid than I do.

[@coconutsfor2963]

@@scarpfish this world is going green - meaning less tree cutting , ev cars , and solar power panels , get with the program your Gonna be left behind. At the end of the day it’s all digits on a screen .

[@Pinkyandthebrain290]

Think of it this way the credit cards are designed to make this appealing so you never leave.

[@sootherelax2802]

Most people can’t handle plastic! I have a budget. I use my cards for bills and big trips. And pay it off as soon as the charge hits the account. Still within my budget and maxing out retirement

[@thevibezgaming7149]

Dude was that $82 coat bought for 12.5 cents actually true😂😂😂 that’s insane

[@Rhaegar7504]

Bashes Apple Pay and uses Home Depot as his example, when they don’t accept Apple Pay. Gotta love it lol

[@Jafar-dr6to]

Spending 10000 to get 100 doesn’t make sense

[@jlogan2228]

Bc thats not accurate. That 10000 is cumilative on expenses you were going to pay for anyway, gas, bills, food etc. What doesnt make sense about using a card and getting some kimd of reward back vs just cash thats gone and done

[@DaTruth683]

The day before payday, I use my rewards card to pay for groceries, utilities etc and then I pay it off the next day which is payday

[@Oldtimeleftie]

I got nothing from this. Dave uses a debit card and this other guy is even saying he uses his debit card. Say as I say not as I do is what I got out of this

[@elchapojr6219]

I still go inside the gas station to pay for gas in cash I don’t trust the swipe my card on those reader outside