Why I Don't Use Debit Cards

[@jaxx-inspiregrowcreate2862]

*If you love Nate, let's show him some love with a like on his video!*

[@NateOBrien]

The Jaxx Channel - Self-Growth Health Wellness I sincerely appreciate it!

[@RedNarboneta]

man how'd you know

[@lifeinmedicine1097]

@@NateOBrien am sorry Which is best now a credit card or debit card?? Cause many of ma friends advice me to use debit card!!

[@segarinnajohnson4092]

I wanna marry him

[@suzhang628]

since I subscribed,I have always given a thumb up on every vedio I have watched.

[@impleno4438]

I use both credit and debit. In the grand scheme of things all a credit card is, is a monthly payment...a payment that if you pay off can make life easier for you in the long run. As far as debit cards go, it’s the mindset of “I’d rather be broke than in debt” which I also respect.

[@Cordellium]

"I literally run balance sheets for myself. Is that weird? I don't know." I love this guy. Glad to have discovered you and your work Nate. Big inspiration to see someone younger doing so well and spreading good information.

[@NateOBrien]

Thank you Connor

[@PureGold197]

I literally saw this comment exactly when he said that on the video 😂

[@kawaspresso3228]

Living in France, it's not common for us to have a credit card. I only have a debit card, like most people here, and if I don't have money, I don't buy anything, simple.

[@riverdaletales8457]

I use cash 95% of the time , the other 5% I use my debit card for online purchases and for paying my bills

[@creditcard7361]

I deeply came across this trustworthy vendor i got my 2 cc from *Ericroboti* on telegram

[@petertsilko]

Same in Russia. Banks usually offer a cashback with debit cards so it's a way better to have a debit card here rather than a credit card.

[@cryptoranger9524]

In Europe you use a creditcard when there is no other pay option. It's an extra thing like buying something on an American website you would use the creditcard. You have to pay at the end of each month what you bought with the creditcard, Thats how it works in my country

[@KittyKat-vb1nd]

Exactly. Americans tend to live on borrowed money which is odd.

[@ChrisInvests]

Dave Ramsey has left the chat 😂

[@everythingbyjohn]

Chris Invests - Personal Finance Videos 😂

[@JCam151]

The kid has a lot to learn but he's got a great head on his shoulders and a promising future for sure

[@patricksloan439]

@@JCam151 So what is the problem with his advice? Seems pretty sensible to me.

[@jessieurena7583]

He's an idiot

[@granitemoss1451]

@@jessieurena7583 So stop watching him, then. Or don't, because your watches, even hateful ones, and comments, even nasty ones, help him out so....keep up the good work!

[@erichimmelheber]

Ay, man. New to your channel. I'm definitely learning a lot. It's not flashy. Not over the top. You're straight up honest with how stuff works and how it doesn't. Love it. Keep it up

[@NateOBrien]

Thank you Eric

[@remmiellis]

Eric Himmelheber wait til you see his yellow dividend shirt! You’re in for a treat!

[@driver8703]

I’m on Graham’s side, I never use a debt card and very rarely use cash anymore. But to make it work you must always pay off the statement balance in full at the end of the month and make the connection in your mind that if you use a credit card you must have the money to pay for what you buy.

[@rickinseawa]

I stumbled across your KZbin channel a couple of days ago and have learned a lot. I'm 60 years old, make a decent living, but have never, ever, bothered to track my daily spending. This past weekend, I created a spreadsheet and tracked my spending habits from the past six months and was shocked at how much money I frivolously spend on Starbucks, Amazon, and entertainment. So thank you for opening my eyes and helping me be more financially aware. BTW: I love your channel's content.

[@clvn9ja]

I paid off debt following Dave Ramsey but also use my credit card for the cash back reward. Imagine spending $700 and getting $7 back as opposed to using your debit card and getting nothing. I do pay mine off almost immediately if not before I make the purchase with the credit card.

[@Rob-te5ct]

You pay the credit card at the same time you use it?

[@timhershel2940]

There are plenty of no fee 2% cards. You could easily be getting $14 back actually or even more.

[@joe_zupko]

I've never had any issues using a credit, I use it in emergency situations and to reap the rewards benefits. Using plastic definitely causes me to spend more though because cost becomes a nonissue. Not much, but maybe a couple snacks/eating out here and there

[@clvn9ja]

Not an expert but you probably wanna save up your emergency fund instead of using the credit card as your emergency fund. 17% interest ain't no joke.

[@joe_zupko]

@@clvn9ja I definitely agree about the emergency fund, but I haven't had any issues using it so far. It's basically like a debit card (to me) with no over draft fees, just gotta get down to $0 before the next billing cycle. The way I see it, I might as well get extra money for all my regular purchases if I can

[@PhillyLFC]

You forgot to mention if somebody steals your debt card and wants get cash out they’re gonna need a PIN number to do so even if they go to that bank, the teller asks for information that only you would know. At least that’s how my bank works.

[@gabrielcousineau5020]

The could still use it for online payments

[@will-financialliteracy-fin9369]

Taking a credit card out early set me up for credit usage later. I get about $800 back a year from cash back now.

[@NateOBrien]

Great to hear!

[@will-financialliteracy-fin9369]

@@NateOBrien good video! Don't be scared to let everyone know the best way to do something. I point out that if they can't manage it, then it might not be for them, but that it is the most optimal way to use the resources at our disposal.

[@roricarr]

@@will-financialliteracy-fin9369 which credit cards would you recommend, mate? Cheers;)

[@will-financialliteracy-fin9369]

@@roricarr so the two best ones I have right now are both from AMEX but I don't think I can link them without getting flagged for spam. I just need to hurry up and make my cash back video I guess...

[@brucejones1962]

Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯

[@amanraghuwanshi1960]

5:25 here in india it follows otp system when we purchase something online it requires a otp to be entered, i'was shocked when i got to know that us cards doesn't require any otp anyone and use it

[@thebonanzapodcast4899]

Great advice Nate! We have a business podcast located in Sacramento, if you are ever in the area we would love to have you as a guest!

[@ДмитрийМелихов-к2в]

I have debit card with 1% cashback and it's awesome. Also I can choose up to 3 categories with increased cashback. So I prefer using debit card.

[@garyhall6294]

Same here.

[@valentinmitchell1087]

For the first time after about a year I fully understand how credit/debit cards work i had to subscribe🔥

[@YESHAYA_]

when you are single: you don't need a debt card guys. use credit card when you finally grow up and become a mature man with wife and kids: cut off your credit cards and look for financial independence and never let anyone tell you how you should live your financial life (regarding companies like visa, master card, american express and so on)

[@angeljaimes9703]

Credit cards dont dictate your life at all. In fact, credit cards give you more financial freedom as they allow you to leverage your money

[@YESHAYA_]

If it has a loan, it’s not your money

[@angeljaimes9703]

@@YESHAYA_ duh, thats obvious. Just use someone else's money to make your OWN money. Its like asking your neighbor if you can borrow their screwdriver, using it to fix your own things, then giving it back

[@timhershel2940]

Visa and MasterCard don’t lend anyone any money. They are not banks. American Express is a charge card if you don’t pay they close your account. Not a bank either. You clearly don’t know much about credit cards.

[@jont2576]

@@angeljaimes9703 I don't think most of the average population knows how to "leverage" their money.....or even understand the concept at all which is why credit cards are a time bomb in their hands. And the interest rates credit card charges.......unless u are some kind of small business that pay off ur debts on time every month.

[@turmeric6928]

I hate when I’m reading comments then a stupid ad scrolls me to the top 😒

[@michael43567]

I feel like Dave Ramsey is very knowledgeable, but his ideologies are a bit outdated. He's completely against debt (even good debt). He recommends saving hundreds of thousands then paying for your house with cash. That's completely unrealistic for most of us. I feel like he's too risk averse. I'm much more on the side of Graham Stephan who says credit cards and debt (good debt) are tools that you can use to you're benefit if you're financially intelligent. But I listen to a lot of different finance/entrepreneur/business/investment type youtubers to gain as much knowledge as possible, whether I agree or disagree with their stances.

[@JazminBautista]

One of the things that I have learned to do is exactly what you just said, taking a piece of every person who has knowledge and create my own empire. Every person has their own input in how to be financially free, and its up to you to be able to develop your own wealth.

[@michael43567]

@@JazminBautista yep no 1 person has all the answers

[@Nico-zw9ud]

No debt is good dumb dumb.

[@jimmyking92]

@@Nico-zw9ud Many people who created companies or shops and are now well off borrowed money to begin. Debt isn't always the devil.

[@Nico-zw9ud]

@@jimmyking92 Mention one that did that.

[@cat-lw6kq]

FYI debit cards are safe I have test messages sent to me overtime I use it. I can then call and cancel the card at anytime. Another thing you can do is to have an additional card that you only kept say $300 on it for when you go shopping in case it's stolen. If it's lost you can then transfer money to your other card, you don't have to wait for a new one sent to you.

[@historylvr8000]

Great advice and you explain everything in a very concise manner, no financial mumbo jumbo! Thank you this was very informative and enjoyable. You got yourself a new subscriber...best YT recommendation!

[@tonydarcy7475]

I usually use my debit card as I get 2% cash back on in store purchases which is better than any credit card I’m aware of (in Australia). I am always looking for a better deal though so I don’t mind switching to a credit card and/or a different bank if the incentives are better, I just haven’t found anything better yet.

[@Fast58Eddie]

Nate, It is amazing how much you know at your young age. I am 62 years old and when I was your age I had no clue about what you are talking about in this video. I off course have over the years learned the lessons that you are trying to teach in this video. I hope that young people pay attention to the message you are delivering in this video. I suspect that you will be very successful in your finances in the years to come. Great video, thank you for putting it out!

[@orangeblossom7748]

I actually liked this someone who finally encourages debit cards if thats more suitable simply. Thank you for also explaining the con of a debit card.

[@zeljosarajevic]

My grandparents lived minimalist life all their life, maybe in 60's it was easier couse you generally didn't have much to buy, but they managed to school their kids to college, build a house, build a weekend house and buy 4 brand new cars in span of 60 years by not taking loan or any kind of mortgage and he had a number of savings accounts. My grandfather had a degree in economics and psychology and that was his thing, same stuff you show in your videos. What I've learned from him is that economics are the core basics in life and I'm grateful he lived long enough to teach me that. His way was similar to yours, he would divide his paycheck in different "storings", first will go to utilities, second will go to savings account, third will go to household account (basically from this one they would buy large household necessities like a car or TV or washing machine - they were expensive at the time) fourth will go to education and kids, fifth will go to food and last one for leisure. Fifth one is the most beneficial for me. They would usually divide grocery shopping in three stages - first one happens every 5-6 months, in that one you basically buy what can stay that long, like, flour, sugar, salt, oil, macaroni, oaths, vinegar, you know, stuff you use on daily basis over and over again for every meal you cook (i'm talking about 200 kg of flour for example), second one is monthly shopping, this is for stuff you need, but not every day, but can still last pretty long, and you use it in span of 1-4 months, so this one is a filler, you just buy what you don't have on it's list, such as honey, meat and fish (they will usually buy few chickens and freeze them, or a whole lamb), veggies that grow underground, alcohol and coffee etc.. Third one is weekly shopping, this one occurs every sunday and it consists of stuff you need for next week and that go bad quickly, dairy, eggs, veggies, sweets etc. My grandma would always run this list couse she was housekeeper and she would cook 3 meals a day. They never bought any processed food (rarely even bought cans) and this way they managed to save almost a paycheck and a half per year only on food, but they never dine at restaurants if there is food in house (spec occasions of course). And your video about grocery shopping is great, but If you do it smart, like my grandparents did, you can still buy in wholesale markets and save money but don't get into buying 8 month stock of cream for example...

[@hellosaysandrew]

You do pay money for flights because you spend an absurd amount of money on that card over time, holy moly. Nothing is free in this world. I like Nate a lot and his videos. I do like that he tried to present both sides of this though.

[@datgravygreen]

Your advice has assisted me greatly, thanks Nate!

[@kevinvernal147]

i use my  card to pay all my bills like utilities, phone, mortgage & some necessities… cost me around $2000 & i get like $50-80 cash rewards & pay it in full within 5 days 😊

[@eksiandsetoahmet2227]

Credit score is not something used in all countries though. In France, they determine if you are eligible to get a loan (e.g., to buy a house) based on the ratio between your salary, your expenses and your savings. Basically, if every month you 'burn' all your money, you're perceived as riskier than someone earning less but consistently making deposits to a saving account. I feel in the US people tend to buy things they don't need with money they don't have... The only times I feel one should need a credit is when buying 'big' things (house, car, etc.). Not for a TV. I’m 26 with over 800 credit score, time was put into that to build it up by COGNITIVEHACKS

[@spade2you]

Use something like a Costo or Sam's card, shop there as much as possible, make general purchases on that card, and pay it off. Makes for a nice amount of cash back every year with zero fees. Not that difficult.

[@ShadowAnimeation]

If your debit card is stolen or hacked, it actually depends on your bank whether it's more of a hassle. For example my Bank monitors my spending (for free) and if they see a weird charge (for example, suddenly in another state), they'll actually put a hold on that transaction and investigate without me having to do a thing or worry about it. While if my credit card gets stolen or hacked I have to call and dispute the charges before my next payment due date and go thru the hassle of proving it wasn't me. Which in my opinion are "way more hoops to jump thru". So yeah, it depends kid.

[@financialwolf]

I will be getting a credit card as soon as I’m 18. Right now since I’m under 18 I have to use a debt card. Credit cards are great for building credit and I want to invest into real estate. But NEVER use credit cards if you don’t have discipline though haha.

[@NateOBrien]

So true

[@remmiellis]

Good call

[@reginaldgarcia522]

I literally have a credit card solely i just use it only for emergency times situation but only to buy things that i need practically, well thank you nate for this video, really learned a lot from this, hope other guys out there learned from this too 🤗

[@ZacharyLaid]

No paper trails of course.

[@NateOBrien]

Yes

[@JuanGarcia-fi8ud]

It's my money and I need it now

[@brucejones1962]

Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯

[@lukedstaten]

Graham Stephan uses 13 credit cards

[@brucejones1962]

Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯

[@brassj67]

I use credit cards and make transfers from my chequeing account to credit card account same or next day to make balance zero. I get travel points with each purchase which has paid for flights and accommodation

[@remplidefeux]

I've actually been using a credit card because it allows me to track my weekly non-bill expenses. Use it for a week, pay it at the end of the week. It keeps me accountable to my budget, and paying it weekly helps to make it seem more "real" than if its a bank card (with which its less visible how much you spent in that week) or cash (I'm a server, and when you have $7-800 in your wallet, it actually feels like less of a big deal to buy that thing you don't need).

[@lulu111_the_cool]

You can see every transaction you make on a band card

[@Νικόλαοςαἰσθητικός]

right on, bro! unless the business establishment only accepts cash, i RARELY pay with cash ever since i was old enough to get my own credit card/debit card. and now that i exercise more control with my spending habits and live below my means, i use a rewards-based credit card to pay for everything, and then pay off the balance every month to avoid interest changes. never carry a balance!

[@fangcooks5643]

that is a lot learned! thank you Nate!

[@Determination212]

I like debit cards when you pay for something and it adjusts your balance right away. I like credit cards when you can get up to 2% back or maybe even more. But a downside is when I'm not able to pay off the credit card right away when I just used it.

[@lmbarnes3]

A lot of services, building deck, building fence, building patio, give a surcharge on credit card use. Colleges do not allow you to pay by credit card with it a fee 2%. Trying to get points on big purchases and protection....

[@NateOBrien]

I used to buy bitcoin with credit cards and churn them back in the day

[@darkmoon669]

Credit scores are just a form of federal control, so if you want to continue living a good life? it’s important to have a high score. My house and vehicles are paid off, I have one Visa card for all purchases, which gives me air miles, and I pay it off monthly, but my score bounces between 800 and 820 without changing any of my patterns, so it’s manipulated for some reason. COGNITIVEHACKS made it stay at that range and getting it up

[@johnburg6718]

I totally get how some people think that debit cards feel like your own money and you only have $200 in your checking account, versus a credit card with a $2,000 limit and spend some ridiculous amount of that credit limit. Me personally, both of them feel like my own money. I do not see a credit limit, I see my checking account limit. So even though I have a total of about a $10,000 credit limit if I only have $500 in my checking account I am only allowed to spend that much. I think credit cards are a great way to make/save money, wether it be churning them or trying to achieve a 750+ score. I am 18 and already have a 720 FICO Score. Currently saving up for my first non credit card credit type. Which would be a house. There is sooo much money to be made in the housing industry. Wether it be renting out, flipping, or whatever else. I have been looking for a duplex for a while now and when I find one I am going to pull the trigger on it. So for me Credit cards are a great way to become wealthy. Sometimes the only way to make money is to have money.

[@GuppyPal]

I commute a lot for work. I have a credit card that gives me 3-5% back on fuel. I have saved literally thousands of dollars over the years using credit cards just on fuel alone. The only reason credit cards are viewed as bad is that a lot of people can't manage money and overspend and get into credit card debt. If that's not a problem for you, credit cards are a very useful tool.

[@Jesseg-rj6xf]

When you live in the hood, you pay with the debt card

[@vybzuchiha8055]

Finally someone who speaks my language

[@j-willy4137]

Just wanted to mention that besides having a good credit score to rent an apartment.. you may need it to get a job, I have worked at banks & credit union, they check your score before considering hiring you. It’s a way to reference responsibility.

[@NateOBrien]

It really is!

[@G20T]

Scamming is at an all time high & every place doesn’t have apple or android pay so it’s best to use your credit card bc once they scam you that’s it

[@JazminBautista]

Credit is neutral! It all comes down to the person using that credit card.

[@valdanowill]

Debit card is the best, less temptation to spend what you dont have. PLus NO INTEREST ON BALANCES.

[@user-ww6ii6zn8m]

There's no interest on a credit card if you never carry a balance though

[@Onii-san]

@@user-ww6ii6zn8m problem is alot people carry a balance. Is that necessarily the cards fault?no. But some people shouldn't trust themselves with one

[@lorenakoran2]

In the past when I had a very low credit score, I was turned down by a mobile home park. I had excellent rental history, but they couldn't except me because their company required a credit score above a specific number. I ended up getting into a different mobile home park that didn't require credit score info. So, I was stuck with my four little ones in a moldy, cold, crappy home for several years. Thankfully that's in the past, but that damn credit score does matter.

[@michaelpowers6632]

Dave makes the best point, if you get $1,000 worth of rewards on a credit card, you spent $100,000 to get that. So if you have a $100 bill in your back pocket, and someone hands you $1 and pick pockets the $100 out of your pocket, they’re going to call you a fool, or an idiot.

[@Mszahnclass95]

I personally like pre paid debit cards .except depends on the fees on it.

[@gmoney187]

I ended up getting in like 10k in credit card debt, it just kind of happen, now im paying them all off and kind of living lowly. I had to learn that it's not free money and I have to spend how I would normally spend with a paycheck not looking at the credit limit like that's what I can actually spend because it's there.

[@starseedtravel8902]

I’m Australia people use Debit cards more often as cash is being phased out.

[@NateOBrien]

Cash is definitely getting phased out

[@christinefindorff5328]

Nah that’s not weird at all! Personally I see being financially smart and responsible as being a form of attractive because it shows a certain level of maturity and self-discipline that many people lack. Keep up the hard work!

[@NateOBrien]

Thanks Christine!

[@varunpatil007]

Too much blabbering, learn to keep the content brief

[@MarianR1111]

One thing to be aware of before using a credit rewards card, especially during this time when small businesses are struggling. Who do you think is paying you the “rewards?” It’s the merchant!!!! Their fees for purchases made with a rewards card are HIGHER than a regular credit card. If you don’t care, fine. But I do care, and refuse to do it to them. I was a business owner, and the credit company sort of hid that fact in cryptic language. I eventually figured it out.

[@flufftronable]

I see Nate as a contributor on Dave Ramsey’s show in the future 👍🏻

[@boyar1978]

I will usually use debit cards if they have great reward programs. For example when i had Bank of America's keep the change card I would put the dollar amount on my credit card and the change amount on my debit card and I would give as much change as I had in order to bring that amount as close to.01 as possible. This was so that I can get that .99 transaction.

[@Mimimacias1]

There is a reason why people with great credit and financial stability use credit cards. Most wealthy people use credit cards, I work for a financial institution and that’s just how it is. Sometimes you have to be open to other ideas . The most successful people and companies use them. I use them I have been able to save so much of my hard working money. But be smart with your spending habits.

[@bernardadesina5106]

I like the life I work for. I dont like the idea of living a borrowed life or living above my means. (I'm not talking about stuff like mortgages, loans... etc :))

[@jasonmims5057]

I use my credit cards like a debit card and I pay it off in full and my credit score is 721 now.

[@Arvabelle]

Love the way you presented this! There are definitely benefits to both depending on the person. I think credit cards are nice for the extra layer of protection.

[@NateOBrien]

I do like the extra protection!

[@newbeginnings9457]

I have a question? Should I get an Amex if I only travel once a year? I do like cash back and not sure you can do both!

[@leelicayan2549]

In Europe, credits cards aren't really a thing we use since we only really need credit for the big purchases in life like cars and houses

[@megablademe4930]

In Europe debit cards are the default cards. Credit cards are pretty uncommon.

[@midnightmoon9511]

I want to have a debit card but I'm scared since its less safer than credit cards when shopping online

[@den7k356]

Debit card works a bit different for me. It’s harder to count cash, something in one pocket, something in another... and easier to spend. When I use my card I get sms or push everytime, I see that my balance become lower and lower. After this I want to stop spending money :) I like numbers

[@frankgaribay1730]

Whats the point of having a credit card if your just going to pay it off right away besides rewards?

[@totoxahc]

In my country (Chile) we have to pay every month that a credit card is used (about 2~3 usd), is the same in other countries?

[@CptSlow89]

I use them to save money and time. First, there is always problem with change and smaller bills when you are shopping. Card eliminates that. Second, closest ATM is 12km from me. If I dont have enough money I wont buy unnecessary stuff. That saves money. I cant pay with a card in every store btw. Its debit card so I cant shop online and get credit. Btw im not from usa

[@THECABSOURHERE]

Dave ramsey pretty much got rich and got off his credit cards..pretty sure he got credit history of 800 lol

[@romancebuie8390]

Hey Nate! I want to know how you create your background?

[@thomassellers6836]

Nate, I'm new to your channel and have great interest in finance and economics. I've watched a few of your videos, and you have already made an impression on me. I just wanted to ask you what your credentials are, such as a degree in a major relevant to the topics you discuss. I'm just a new viewer who's curious. Great video btw!

[@NateOBrien]

Hi, welcome to the channel. I spent a few years at Penn State studying Finance and Marketing. Having said that, I am taking some time off so that I can focus on scaling my income

[@thomassellers6836]

@@NateOBrien Sounds awesome. Thanks for the reply

[@JoshuaDegreiff]

I hate pay with debit because I need to put my PIN every single time I just hated! They supposed to serve as credit card method not debit.

[@EverydayKindaGuy]

I stopped using debit cards. Went to credit cards (mostly Discover) to pay for my day to day and pay it off in full. My credit score was 500'ish, due to utter lack of credit. Currently it's 650's within 6 months, and I get those sweet sweet cashback rewards. I am against credit cards used as their name sake is, as credit. If I'm using them solely for what I would normally use by debit card for, there's no issue. BUT, you must ensure you pay them off in full. Do it weekly if needed to ensure you do not get caught up buying more than you can cover. You can go into debt with credit cards. I ended up MANY years ago causing an overage - twice... So not only did my account balance drop down, but they charged me $70. I was livid. Ah, to be dumb young and broke.

[@EverydayKindaGuy]

BTW, I like your advice about using cash. There's something that stays at the front of your mind when you're using it - And if you lock yourself into an $X limit per week/month, and you watch that last dollar bill go poof when you need to pay something else? It puts you spending habits directly in your line of sight, vs out of sight, out of mind.

[@lmj8885]

kinda had to shake my head on the apartment scenario. it's a bigger pain in the ass to have your social security stolen and often it's stolen from the landlords possession. They don't need a damn credit score just build something called a Renters/rental history that shows data of paying your rent on time in the past. Or pay more of the lease upfront to convince them you're capable to have the finances.

[@luiskrotz2897]

I use credit cards. I set the limit to my budget and use the reward points to get cash back. I hadn’t used money in the last 10 years. Specially living in insecure neighborhoods. If my card gets lost or stolen I just block it with the app. But my golden rule is to never use more credit than I have in my account to pay off.

[@carlabujen1778]

Extremely simple explination: Debit card: simple and straight forward (just like cash in your wallet) Credit card: more advance thinking required, but can be more beneficial in the long term. (As long as you can pay the bill and don't owe debt, you earn bonus perks)

[@karol84401]

Awesome young man!

[@augustaverbian]

I mean it doesn't the card that is bad. Just how your self discipline as responsible consumer.

[@sarayshaik2436]

VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but COGNITIVEHACKS info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

[@Lissas_Life]

Omg what kind of credit card are u using to get a free flight??? I’ve been using this same credit card for about 3 years now (only one I’ve ever had & I only use it to build my credit & get cash back,.. never paid a penny in interest either) and they only give me 3% cash back on gas or groceries or something else ... I would love to know which one is good in getting flights or better cash back deals !! 🤨 I’m so interested.

[@NR-nf1il]

I don't use debit cards cuz I don't trust them. I have an ATM card just for identification purposes at the bank. I do not use ATMs.

[@JazminBautista]

Most of the time its better to just use cash!

[@colecarpenter3022]

awesome Nate

[@FATL0L0]

I zero out my AmEx card two to 3 times a month

[@THECABSOURHERE]

😂😂

[@jonathanjimenez2361]

9 0f 10 places dont required a credit score . Bank statement is enough

[@treyvillafranca331]

I use my debit card to payoff my credit card statement each month

[@sharip]

Nate, what do you think about Chinese non-wallet WeChat/Alipay system? P.S. thank you for this video!

[@ARUchannel1]

I wish I had a rewards debit card

[@Mr300OG]

A lot of good points made here. The only thing I’d like to point out in opposition is that if your debit & cc get stolen, it’s easier for them to use your cc than your debit. Your debit needs a pin to use it.

[@michael43567]

but at the same time if you report your credit card as missing, you'll be reimbursed. credit cards are more secure for that reason

[@geraleematz504]

There is one time I was very glad I had a debit card, and that is when I set up my online banking on a new laptop. Chase wanted to use my debit card number and track it with my phone number, and voila, I was all set up on the new device. However, I have since moved, have a new phone number, an I have no idea how Chase will react to my new situation, (I doubt Chase will react positively to any of my life changes), but I no longer need a debit card. Not worth the risks. I would appreciate your insight. Thanks.

[@alal792]

Statute of limitations virtually guarantees abuse of the system...so of coarse the law was most likely created with such in mind.

[@LuisRamos-fk1em]

I am missing your videos.

[@andrewdupuis1151]

you cant take out from bank card if threes no money in bank

[@nowayjose9786]

Hey Nate, what is the voice mic clip you use? Is it an amazon purchase?

[@5vites881]

I think you literally just saved my life Leo, I’ve been struggling to find a way out. I’m currently an N.A waiting to get certified because of covid and stuff but I support myself and my grandma. I don’t have anyone to turn to for help, I’ve been trying to save but I can’t because of bills and renting my apartment and everything. But this, literally helped me look to a brighter future. My grandma is crippled so she cannot do work or anything. Most people have parents to turn to but I don’t talk to my mom or dad. This literally helped me so much because since i met COGNITIVEHACKS the real issue i have about debt was solve in some weeks am sure before Feb of my birthday i will be home owner.

[@scorpion777silvermoon3]

Great points of view