Why Credit Cards Are A Scam - Honest Ads

[@jetfire245]

If only this guy could report the news

[@yoyo-pg8xh]

He'll ya

[@djaftermath4313]

😂😂😂 I'd watch religiously for sure. Truth sounds do much better than the smoke they're blowing up our arses 😳

[@bigbosscaos3923]

Cnn and MSNBC would shut down tomorrow

[@kayneassasin]

then stop watching nbc

[@xx294]

Just watch every single news channel they're all that dumb

[@Ladykyra101]

"Wanna have money without having money?" OMG....think that's the best definition of credit cards I've ever heard. 🤣

[@MSAYEH]

He doesn't speak about using money abroad though. Taking money with you above a certain amount is illegal

[@dh9008]

@@MSAYEH Use a debit card.

[@rarowskettios6589]

@@dh9008 Use somethign directly connected to your checking account abroad...what a moronic idea lmao

[@MSAYEH]

@@dh9008 i thought the whole point was not to use any form of cards. Congratz now you are using another card with other kind of interest and limited geographically.

[@Theonemen5]

​@@MSAYEH Debit cards don't require you to take credits. You're paying directly from your bank account and depending on your settings can't spend money you don't have. That's a big difference.

[@briansperry4845]

The best type of slave is one who thinks he’s free.

[@temavero2124]

I bet we all know a lot of them... The worst slave I met was: kzbin.info/www/bejne/onTPaHxtpdOaZpo

[@MichaelSmith-fh2nu]

Credit score are only usefully for broke ass retards that need to borrow money, how do you think you get a good credit score to begin with??? Get your mortgage the old fashion way, pay for everything else with cold hard cash.

[@mateogonzalezortega]

I'm fourteen an this is deep

r/im14andthisisdeep

[@christ347]

@@mateogonzalezortega You don't know deep. I've been digging for 14 years and almost hit China.

[@LucidDreamer54321]

I have had credit cards for about 35 years and have NEVER paid interest. I only use a credit card for convenience so I can pay for gas at the pump or order from online sellers.

[@tankdogization]

Credit card companies must really hate you. They already hate me for opening up my first credit card and paying it all off every month I have a balance on it.

[@Ben-bb7mi]

@@tankdogization It depends on the credit card company. Some companies hate users who do this while others tolerate it or encourage it as they use their credit card reward system to cross sell you other financial products. Chase is good about encouraging people to game points because they will try to sell you auto loans, their wealth advisor services, etc. AMEX hates users who game points because they have nothing to cross sell

[@gnnascarfan2410]

@@tankdogization That's where Credit Card Companies came up with transaction fees that they charge merchants.

[@Swiftwind82]

26 years now and I have also NEVER paid interest or a fee. Though I myself put 90% of my purchases on my card, I do not spend beyond my ability to pay it back and I am far from wealthy - I keep a budget. Though I’ve lost track years ago, I have easily banked 5 digits+ in reward payouts. At one point I had $1,800 saved in ‘Subaru bucks’, which I used to buy new tires and cover maintenance (that card has since folded up 😅). To increase my ‘rewards’ beyond my earning capacity I’ve even gone out of my way to offer my personal card for reimbursed business expenses when convenient. One year, I put close to twice my yearly salary on my card through business trips. Why my boss did not issue a company card is beyond me, but I have since freely shared my methods. 😊

[@aluisious]

@@tankdogization They are charging the merchant fees for every transaction.

[@DarkDevero]

I can imagine a world where this dude owns a ton of businesses and does the ads himself, but since he owns everything, he can be as honest as he wants.

[@blop-a-blop9419]

The only thing th at would scare him into lying is that we would all get so fed up that we'd decide collectively to not make him own anything anymore. That's called a revolution

[@pallasathena1555]

There’s this town in Norfolk, England where every business is called Roy’s and owned by the same family; the restaurant, outfitters, garden centre, petrol station, toy shop etc. Always reminded me of Rodgers many businesses.

[@scarlethottie3955]

Right. He looks like the first ever slave master's youngest grandson.😅 .He's telling the truth , waking people up, & none of his videos have been removed.

[@MrMoron-qn5rx]

Plot twist, hes trying to make people boycot every company hes honest about, making sure only he can profit by sweeping up the pyre

[@muneebtalib1538]

@@pallasathena1555 0

[@timhofstetter5654]

I'd like to see this presentation given in high schools before graduation.

[@vijaytk8977]

I think they will never. When we finish schools and come out, we start to learn from scratch about life. "Schools are the biggest scams, teaching the students nothing about life"

[@andrews2438]

If you don't spend beyond your means and pay your card off like anyone with a brain there's tons of benefits to using a CC 🤷‍♂️

[@timhofstetter5654]

@@andrews2438 Amortize whenever possible. Do you understand, though, how difficult it is to convince people to stay withing their means and amortize when it's so easy for them to just go into debt instead?

[@vijaytk8977]

@Rick Gould What about orphan children?

[@vijaytk8977]

@Rick Gould that's really sad 😔

[@UserWalterbe]

"Stop buying stuff you can't afford, with money you don't have, to impress people you don't even really like. - It is a signal you're stupid. It is not a signal that you are rich." ~ Dave Ramsey

[@brendanblanks4438]

Best advice to teenagers. Say it and say it OFTEN. I have several cards now and not an ounce of debt despite starting over $10k in the hole (student loans that I ACTUALLY benefited from, surprise surprise), and it's because I learned early how to manage money properly. Rule 1: don't spend money you don't have unless you have absolutely no choice. All the remaining rules pretty much follow from there.

[@arnas1058]

you're* sorry :(

[@mochi8990]

Oml I loved personal finance with him 😭

[@TheDogondone]

Dave is the man.

[@Ady_Sr]

Sounds well

[@cannon4854]

The most scammy part is that if you dont have a credit card you dont get a credit score. No credit score i couldn't get an apartment for my wife and I for 6 months. We lived with my parents until finally we found a place that actually looked at my income and not just a three digit number or the lack of it...

[@player400_official]

Imo I’m from Poland and once I saw an American asking what documents he has to provide to the landlord in Poland. He also made a long list of different documents you need to present in the US. Everyone was like - bring an ID with a PESEL number (something you’re probably always carrying in your wallet anyway) so he has data to draft the contract.

[@wormsblink2887]

Yeah I never understood why Americans have to “build credit history”. The bank can just look at your income and expenses and decide if you can pay them back. Why wait for months / years.

[@jmi5969]

This sounds ugly. I only lived in the US in the 1990s, no credit no nothing but there were absolutely no issues with rent. No papers involved, just pass the good ole cash and don't set the house on fire.

[@BenthewildchildE750]

So I can’t pay for the house with my debit card? Even though I would have the money at least for part of it.

[@LukasVokrinek]

Can confirm getting an apartment lease in the US with no credit is a nightmare

[@dontleaveamessage]

“Paying for an expensive education that doesn’t lead to a job” words of wisdom

[@Eric_Tennant]

Haha joke on them I left the credit system and am not paying back the now $75,000 in student loans. I already own my house and have no need for credit with more cash then I have ever had. I also don't have taxes coming back each year so they can't take any of that. They can't take my income because I make my money from investments. Can't scam a scammer!

[@MrBoss-re6lp]

Eric Tennant How long has it been since you left college? 😂

[@027betz]

i never took out a loan and i'm working in my field. also, parents never paid for any of it, they're pretty broke. I went to community college then the cheap state uni, got scholarships and worked.

[@dannybenhur6123]

$35,000 for engineering... Hello unemployment... Could have bought an apartment...

[@dontleaveamessage]

Danny Benhur I just got a job in WebDev for 130k... something is wrong here

[@irismabbagu4332]

2.4M subs with 2.4M views, what a loyal crowd

[@olegoleg258]

now 2.5 milion subs and views but only almost 90k likes-which are probably more important for monetisation

[@irismabbagu4332]

@@olegoleg258 oh, is that so :(

[@Mociee]

Oleg Oleg no it’s views, 1,000 views is $1 which today is around 80p

[@risingembersgaming7740]

Yes 2.5 now

[@Ranakhurramnisar]

Lol

[@pmacgaming8993]

“Why use disgusting prices of paper covered with pictures of dead guys when you can use my square piece of dinosaur carcass with numbers on it” I died

[@robertrouillier6319]

so did the dinosaurs.

[@cutiebunnyamber3447]

rip disonaurs, didn't do anything but still got roasted by rog.

[@TheIslandstyle11]

LOL!

[@balajisrinivas7688]

RIP bro 😔😥

[@ginichimaru001]

0:43

[@F4Effort]

I swear that’s the American motto right there: “Doesn’t that sound like it should be illegal? It’s not! 😉”

[@TheMoises1213]

Yup

[@anthonyfaucy2761]

Thats capitalism in general

[@bakerboat4572]

​@@anthonyfaucy2761 Ah, the joys of blaming everything to a single catch-all phrase.

[@gramfero]

​@@bakerboat4572hey, just because it's simple doesn't mean it's wrong

[@TeenWithACarrotIDK]

@@bakerboat4572 It’s actually an economic system, and said economic system has done something so great that no other system has done before: *Made life slightly more livable.* Slightly as it usually ends up creating these issues we have today because it sometimes incentivizes them.

[@mikehunt8375]

Anybody else starting to feel like you've been scammed on everything since birth???

[@katiekane5247]

We have. Suggest reading anything by Robert Reich, Chris Hedges, Professor Wolff.

[@Leomatoad]

Brith is a scam

[@the1onlyteagro]

Welcome to the world, it's nice to scam you-life

[@VosMiceSamaXD]

I've paid all credits in time and used only for small transations, then no scams for me :D

[@omairshafiq1998]

Now I'm starting to thank I'm from the third world

[@shuaizhou589]

“Use this card to get an education that you probably won’t a job from” ouchhhhh

[@mcspacebootz2220]

me rn.

[@pnaik8808]

That really hit hard on me...

[@hassenalwaely6215]

That made no sense

[@mandofloxks1629]

Hit me hard too and it’s so true🥺🥺

[@vivaelchilepicante]

*rolls into a ball and weeps* 😢

[@AlexBesogonov]

The first rule of credit card use: PAY BACK THE BALANCE EVERY MONTH. That's it. There are no more rules.

[@rezigdhia9004]

Don't use credit card

[@theroadtocosplayandcomicco5840]

My rules 1. DON'T GET ONE UNTIL YOU HAVE A JOB I don't trust myself with a credit card yet

[@RaduRadonys]

@@theroadtocosplayandcomicco5840 I don't know where you live, but in most countries you cannot get a credit card unless you have a job.

[@jameshenderson4094]

@@RaduRadonys if someone with a job cosigns then you can get a credit card.

[@jameshenderson4094]

@Baron Von Grijffenbourg that's the thing, credit cards are targeted at those who -don't have any money- who work -three jobs and still can't pay every bill on time- it's targeted at the poor who in desperation try to buy time with credit cards

[@afreen5058]

My mother is still paying off the debts that she accumulated on her many credit cards when she first came to this country. She didn't understand what it was at all, she essentially thought it was free money and she and my father bought like real fur coats and stuff because they were dumb. I'm not sure exactly how true this story is, but from what my sisters have gathered from their lives, apparently this is true.

[@emmapeel8163]

believe it. same happened to my mom. she didn't understand interest at all. always paid the minimum.

[@deus_vult_1099]

They should make you take a test on this before you get a credit card…

[@abhishek2275]

@@deus_vult_1099 If they make you take a test on this, how will they earn? CC companies are only running because people don't pay debt.

[@danitho]

They weren't dumb they were ignorant, as in they didn't know. It's a trick and a scam, one that's very easy to fall into because, as was mentioned in the video, you almost need a credit card for credit. Because without credit it's a lot harder to get a loan for a car or a house.

[@Goldzwiebel]

this is simply misleading the bank advisors. They say you always owe the same amount, but the wages go up so that in 10 years you will only have to work half the working hours for this debt. Of course, they don't tell you about compound interest. they suggest things that lead to the conclusion that the fur coat only costs half if you don't pay for it for 10 years.

[@TheoneandonlyJobis]

I've gotten over $1000 in cash back over the past 3 years and I've never paid a cent in interest. Just use it as your debit card and pay it off every month.

[@teranyan]

So that comes to about $30 of benefit a month for the risk of getting buttfucked forever, great deal my man.

[@timhandjr]

Joe ...or you could just use a Debit card. My Discover DEBIT card gives me 1% cash back.

[@JacquesduPlessis11]

@@teranyan The benefits are actually credit rating - which is dumb, but a fact of life - better credit score has a lot of benefits, most importantly on a house purchase. There are also more safeties in place for when someone without permission uses your credit card, then your debit card has. Those are probably the main benefits. Credit cards, are fairly good if you use them as OP says - as your debit card and don't pay interest. If however, you don't manage your finances wisely, and end up spending more than you can afford - you're going to have a bad time. And the sad fact of the matter is that the problem is usually not the credit card, but that the person does not understand how to use them responsibly, because no one ever taught them how to use it. So what is missing is a class in schools where you are taught how to manage your budgets.

[@027betz]

@@teranyan the risk is so low if you spend within your means and setup auto payment. yeah, then it is a great deal. just cause people are irresponsible doesn't mean you have to.

[@JH-rm3qf]

@@teranyan What *RISK* are you possibly talking about? Is the credit card going to sprout legs and go spend your money on your behalf? Where the hell is the personal accountability lmao? There's legitimately ZERO RISK.

[@mywayorthehighwayking1356]

This is why they don't teach you anything about money in school .

[@smallsthetimelord4066]

I had a friend who asked his school if they could do that. He got suspended. No joke, suspended.

[@noobattempts]

@@smallsthetimelord4066 sure he did

[@hostofsoulslol]

They do in mine

[@GirtonOramsay]

I never learned a damn thing about money in public school, but damn right I can calculate the trajectory of a cannonball with algebra and calculus!

[@kevinbeazy]

What schools did y’all go to? Public schools here teach about money in grade school. Your parents also have a responsibility to teach you things. Maybe your parents failed you?

[@Delecrome]

“Why use gross paper covered with pictures of dead guys when you can use my square piece of dinosaur carcass with numbers on it?”

[@johnfoltz8183]

From exploding dinosaur remains.

[@unfuzzy]

why use debit cards?

[@notapirat3387]

@@unfuzzy Because using a debit card is like using cash, it comes from your bank, not some guy who's gonna charge 10000000% interest.

[@unfuzzy]

@@notapirat3387 - using a credit card is like using cash so long as you pay it off on time. and banks often charge a service charge for using a debit card. THE POINT IS debit cards are *also* square pieces of dinosaur carcasses with numbers on them. or did you not get that part?

[@popstel2286]

Yes

[@sambeezy007]

"People spend money they don't have on things they don't need." -George Carlin

[@yonkobuster112]

that is very true, the credit card debt in America is about 687 billion dollars. I stay away from those things.

[@sambeezy007]

@@yonkobuster112 Yep. Outside my transportation and house me and my wife don't have credit. We build credit on her car and my bike that we can pay twice if we want. If you can't pay the monthly payment (by choice) for your ride twice then you can't afford it.

[@jmason2838]

@GNHi .. When I was a child in my town and anyone walked into a food store and was attempting to get food by using a credit card , people would look at you like you were a worthless bum ( especially if trying to feed a child using credit👶👶😒😔) .. that couldn't afford to feed or take basic care of himself / herself .. that person was looked at by the townspeople like they were a lazy , leechy parasite that couldn't even feed themselves .. ostracized and shunned .😤😤😤😤..😝🖕🤨I strongly suggest to use cards only for emergencies .. not daily purchases .. especially food , fast food or otherwise..cook more at home.. it's easy to not notice how much you spend when it's not actual cash money changing hands 💵💵💵💸..why did the rent - to - own companies go out of business? - think about that for a minute.. Question : why do banks send monthly statements ? instead of **weekly** statements?! ..because it's easier to dig yourself further into the hole 👇🕳️👈 without noticing how much you spend, that's why 📈.. it would snap people out of it 😴💤 if they had to face a **weekly** bill , instead of a monthly bill.. banks like keeping people in the dark and asleep 💤.. it makes banks richer🤑🤑🏦🏦 .. as you spend yourself into the foodless , leaking , freezing poorhouse oblivion😭..🏚️🏚️🏚️..😒🤨🤨.they love that..🤑🤑🤑 time to wake up , people☕☕👋🤚👋.🙏🍀👀just my humble opinion all stated here.. good luck .. I think you will need it.. 🍀🙁😟☕☕☕

[@NazriB]

Lies again? All credit goes to me

[@deanchampion6777]

True fact: Credit card companies have a term for those who pay their balance in full every month -- they call them "deadbeats".

[@antauljn543]

Dean Champion 😮 Wow!

[@deanchampion6777]

DEFINITION of 'Deadbeat', in the twisted logic of the credit card companies' world: Deadbeat is a slang term for a credit card user who pays off his or her balance in full and on time every month, thus avoiding the need to pay off interest that would have accrued on their accounts. A deadbeat, also called a “nonrevolver” or a “transactor,” gets this derogatory name by being a potentially less profitable customer for a credit card company than a revolver, or someone who carries a balance from month to month. By not carrying a balance, a deadbeat does not incur any interest charges, and by paying on time, he or she does not incur any late fees. However, so-called deadbeats in the credit world also do not rack up bills they never pay, so they do not generate significant losses for credit card companies like true deadbeats, who do not pay their bills.

[@antauljn543]

Thank you for expounding on the definition.

[@deanchampion6777]

Your welcome. Yeah, I laughed when I first heard that, but then I thought about it and realized that they treasure the people that they can take advantage of the most, and it made more sense.

[@aerohk]

@@deanchampion6777 Credit card companies still profit from deadbeats. They charge a credit card fee to businesses.

[@RA-ob1ld]

You gotta give them credit, this was pretty good

[@cracked]

Respect.

[@sisterimmaculata1680]

>Insert a generic 'yeah but after hours is the best' comment here

[@The482075]

Awesome joke Rachel. I wish I had a good follow up to that joke. Unfortunately my sense of humour is bankrupt.

[@thezerfer9860]

Rachel Arkless 👏👏👏

[@Michael_ORourke]

There seems to be a lot of interest in this joke.

[@ejmtv3]

Gross paper with dead guys LMAO

[@feefs2139]

😂😂😂😂 i can't

[@hadbetterdays8118]

Too accurate and funny

[@bodel7223]

I still believe in cash!!!

[@nelsonkiiru7252]

😂😂😂

[@temavero2124]

Luckily on euros we have architectural bridges and other stuff 😂

[@samb9502]

This should have been shown to all incoming first year college students as part of mandatory financial education....

[@justinmorris8264]

Well it isn't is it? That would never occur in this current state of education.

[@smrtfasizmu6161]

College isn't mandatory. I know you want to brainwash people with your propaganda with your financial education. Don't get me wrong, I am not saying anything against this particular video, this video is completely on point, the point of this video is capitalism is a scam. I never thought in my life about taking a loan, or having a credit card. Only if I was in diar need of a roof over my head would I take a loan.

[@louisarius9672]

@@smrtfasizmu6161 ?

[@luna-p]

How to function in society should be the entire last year in high school at a minimum. How to write a check and use credit, how to balance your bank account, how to write resumes, apply for jobs, sell yourself in interviews, how to rent an apartment and deal with landlords, how to get health insurance, how to avoid scams, etc.

[@supersaiyaman11589]

@@luna-p renting an apartment nowadays i a scam as well they chare 1000 dollers a month

[@Warribo]

Use a credit card as if it were a debit card and you'll be fine, in fact you'll be more than fine as any error's on your credit card, you'll have no financial liability for. But if you don't understand what I'm saying, then it's best to stick to cold hard cash.

[@bluedragon8762]

Warribo yeah. Stick to small purchases you can immediately pay off. That way no interest and your credit looks good (at least thats what i was told i dont jave a cresit card yet lol)

[@DeathofHeavens]

Warribo that's if the bank dosnt limite how much money you can retrieve

[@kyler364]

Warribo Agreed

[@richardsiemion5903]

Warribo careful. You’re talking “common sense”.

[@imabigscrewball]

Richard Siemion I know... disgusting lol

[@danclark1348]

" I owe, I owe, so off to work I go".. 🎼

[@harry5542]

Dan Clark I always thought it was "hi ho" but your version makes much more sense

[@eej1983able]

Yes lolol

[@tooyoungtobeold8756]

@@harry5542 The correct version is 'Hi ho, hi ho, its home from work we go'. Who sings on the way to work?

[@muhammedmateen4728]

Yah but you will work to pay the money back but you aren’t working for yourself .

[@johnernest2779]

You forgot how they will monitor your location and spending habits so they can sell your private information to someone that will target your spending habits.

[@El_Cid-40]

This captures the madness in a way that is socially acceptable

[@MrIanWarwick]

"A bank is an institution that will lend you money if and only if you can prove you don't need it." ~ I can't remember who

[@jimmbobb]

George Carlin

[@doubtfulguest5450]

No that was me, I said that. I issued a copyright takedown on your comment.

[@A-Milkdromeda-Laniakea-Hominid]

ThatguywiththeAegis You *really* like the Aegis hey? 😉

[@vangelicest4183]

there are some cases, like the need of a bigger house because of a new family that makes going in debt inevitable.

[@punintendedd]

That sounds like something Dave Ramsey would say

[@isaiahbamba705]

Cashback: “It’s like you’re digging a hole, and we throw in a handful of dirt to get you out, but only if you dig 5 feet deeper.”

[@cameronmacdonald294]

That is assuming that you were otherwise not going to spend that money at all, if you use a credit card for your everyday expenses that you were gonna spend anyway then cashback is pretty nice considering you don't get any reward for paying with cash. The problem is not credit cards it's simply people spending money they don't have which is stupid no matter how you look at it. If you are digging yourself a hole to get that 2% then you are an idiot but getting 2% for free just from your groceries, bills, etc. seems like a great deal to me.

[@erikanderson618]

@@cameronmacdonald294 However (and this won't happen) if no one used credit cards merchants wouldn't have to pay the fees to accept credit cards so products could be less expensive (or not go up in cost as much) - then everyone gets cash back - but it's cash they just never had to give out in the first place. Currently cash back is funded by those that don't use credit cards.

[@Sergio-lo6wu]

I like how their "cash-back" is metaphorcally morphed into dirt because that's what t basically is... dirt.

[@andrews2438]

@@erikanderson618we're too far gone buddy.

[@JoseDiaz-pl5kk]

@@erikanderson618 Well that and the people who do use credit cards and don't make their full payments every month

[@a_pimp_named_slickback1455]

"Paying for an expensive education that won't lead to a job" Story of my life... Lmfao

[@shubham4845]

Same here

[@Gabriel-sd1oh]

saddest lmfao i've ever read

[@notapirat3387]

*cries in truth*

[@abrahamg3354]

I tell this to everyone. The best and most important thing you can get is a diploma or equivalent. The rest? Trade Schools. Schools that give you skills and experiences. All that other shit about needing to go to the biggest and baddest university is complete bullshit. Schools are a business and will do anything to get you to believe that it's something you must do. What's worse, their politics are getting more liberal in order to create more profit. Shit like government assistance programs but this time they will jack up the prices through time. It's ALL BULLSHIT.

[@RebeccaGorin]

*“Shortcuts To Success”*

[@RebeccaGorin]

The first step to attaining wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.

[@RebeccaGorin]

I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.

[@RebeccaGorin]

Give this a try and attain weaIth. Get to her

[@RebeccaGorin]

Elizabeth Green Hunts

[@dinardinar2657]

Let me say it one more time: DON'T SPEND MONEY YOU DON'T HAVE

[@FateBoost]

What if you have groceries to pay for (underpaid after bills), an unwell pet or a house emergency? And no, insurance isn’t the solution to the latter 2, as most require you to pay upfront and present bills later, or pay a claim fee. And although foodbanks are cheaper for food, most people would rather get things they’d eat, even if it means it costs them an extra few pound. I always aim to pay at least 10% of the Card off each month.

[@pedro0563]

@@FateBoost If you can't get groceries after paying bills then find a way to increase your income

[@FateBoost]

L. Torres Not much else can be reasonably done beyond working 12 hours a day, 7 Days a week. The issue is called being paid below the real living wage.

[@the1onlyteagro]

@@FateBoost welcome to the world of modern day slavery. My friend says he wants to move to a place that pays better but the cost of living in that area is way higher. Guess what your in the same situation you just shuffle more money around.

[@DragonguyA]

@@FateBoost Two words: Emergency fund

[@stunnerjokes1583]

“If you can’t afford to buy something twice, you can’t afford it”-Dan Lok Thank Me Later

[@lukesegars5466]

STUNNERJOKES nice!

[@lukasvanhusen8587]

Good advice

[@KrishmanyuThakur]

Actually Jay Z said it first

[@raisethebar5083]

Lol was looking for the Jay Z reference

[@dreamerenlosangeles6728]

Those are not Dan Lok's words

[@imwiththebusiness]

Joke is on the credit company. Im not paying them back the $16k I owe them. Im already in Costa Rica.

[@whodis2625]

imwiththebusiness The funny thing is we used the credit card to fly us here. They’ll never find us 😆😆😆

[@thesuperginge1348]

I actually used to work with a guy who flew over from NZ to avoid paying back his debt. After a few years a debt collector agency found him, but he said he just kept ignoring their letters and eventually they gave up. They weren't about to send someone in person from overseas, and probably didn't want the hassle of hiring someone from an overseas company.

[@SimplyaLady92]

Lmaooooo!!

[@mehwishasfand3247]

Glad you let them your location

[@steverocksyo]

After 7 years it goes away.

[@curtiswhiteheadjr1322]

Learned a lot of this 10 or 15 years ago, but always willing to learn more. Paid off then burnt up my last capital one and haven’t looked back. 💯

[@asrafkhan1266]

Why use gross paper covered with pictures of dead guys 😂😂😂

[@anthonyg9763]

asraf khan Money really is kind of gross when you think of where it has been, who has handled it, who has had it in their pocket, who has snorted cocain through it. This will be the selling point when they sell you having a chip inserted right into your hand. Scary? Should be, but it will happen.

[@nkosinathiisraelndlovu1580]

asraf khan 😂😂😂😂

[@Gamepak]

use bitcoin

[@seani1473]

Just launder your money so it is nice and clean.......

[@raisa_cherry35]

asraf khan 😁😁

[@karldilkington8587]

He forgot to mention, if you don't sign up for one you won't have a credit history. Good luck getting an apartment much less a mortgage!

[@00loudog]

Amen

[@timothyhaskell8262]

That is punishment for not playing their game. I may not have much, a may never have anything. But I don't, and won't EVER have a credit card debt.

[@Thatsjustunbelievable]

You can get a mortgage without a credit score

[@SeaGLGaming]

Get a credit card, only use it for groceries and gas, things that are easy to pay off at the end of the month. Get your credit up easily. Shred it and bury it 6 feet in the ground. Boom

[@coomcake]

The real fist in the ol’ sphincter is that if you apply for one with no credit score and are denied, you now have a bad credit score. And no credit card.

[@Hex_ESM]

Thank god I am debt free...

[@Hex_ESM]

albert fish, I am married and both of us are debt free. Thanks for the concern bro!

[@resbak6226]

That good...praying and have faith ... i will be debt free soon

[@Hex_ESM]

res bak, congrats and the plan! I hope you pull it off!

[@resbak6226]

Tnx extra session

[@Warsame7]

Extra Sessions Media bullshit internet troll.

[@player400_official]

Honestly that’s something I could never get about the USA. In my country credit cards are unheard of - everyone just uses debit cards.

[@LeafMaltieze]

We have both. But the credit that he mentioned, that's real. When you buy a house, if you can't afford the entire thing outright (and they cost $400,000 on average) then you have to get a loan. A loan will have interest, and that interest is based on your credit score. Your credit score is based on how frequently, and effectively you can use a credit card, and pay it off. If you don't use a credit card, then you won't have a credit history, and they will see that as bad, and give you a higher interest rate. So everyone who isn't rich is entirely reliant on being in debt to a credit card company, so that they can show they have the ability to budget well enough to pay that debt off, so that they can get into more debt when they want to buy a house, or car, or have any kind of medical treatment. Of course you can still get those things without a good credit score, it will just mean that the interest rates are higher, and therefore it takes longer to pay off, and you're less likely to be able to pay it off, so you'll be more likely to get stuck in and endless loop of paying off debt that is growing ever higher, at a rate that you can't afford to keep up with, unless you get another loan, or credit card to pay off the first one, and so on. But don't worry the government has put laws in place that enable this practice, and make it easier to do, because the credit card companies are one of their biggest sponsors, regardless of the political party they are from.

[@player400_official]

@@LeafMaltieze How paying off a loan quickly is better financial responsibility than not taking a loan at all? I’m from Poland and here if the bank sees that you finance everyday spending with loans they will assume you are irresponsible and thus you will be less likely to get a mortgage. In general in Polish culture having any loan other than mortgage is viewed as being financialy irresponsible.

[@garethbaus5471]

​@@player400_officialI wish that was the case in the US.

[@seanj4119]

@@player400_official It gives the bank data to judge how responsible you are. When you're not taking out loans, you're not leaving behind a paper trail, so if all of a sudden you come to the bank to ask for a giant home loan with no history to back up your trustworthiness, the banker will assume the worst and saddle you with a high interest rate. I'd also like to point out that responsible credit card users always pay off their monthly balance in full and on time and thus pay zero interest. Also, if it gets stolen, you can void all spending on that card after the reported time of theft and lose nothing, which you can't do with a debit card. It basically becomes a debit card with reward perks that is shielded from your bank account.

[@darmam0o]

@@LeafMaltieze How about... don't buy a house until you can afford it?

[@issayahray4104]

If you aren’t using a credit card like cash, then you shouldn’t have one.

[@jameshenderson4094]

The problem is nobody teaches this, and the credit card companies like that.

[@JD-wz9il]

@@jameshenderson4094 why do you need somebody to teach you that? Dont you have a brain?

[@DerSystematiker]

@@jameshenderson4094 Spending more than you earn will result in debts... if you repeat this again and again, your debts will gown... any 5th grader should be able to get this it's own.

[@cherrypepsi2815]

Better yet, just use a debit card lol

[@jameshenderson4094]

@NoNoNoNii ah so... I take it you don't have one then?

[@Ladykyra101]

Wanna have money without having money...truest statement ever made. 😂 #ItsATrap!

[@aeropostale101nw]

It's not a trap. I guess we shouldn't expect people to be responsible with their money, though.

[@paulgoogol2652]

This is not a trap. This is called capitalism. All hail capitalism!

[@jessehibbs7042]

It's called knowing the consequences and doing it anyway because... "Ooh! Shiny!" And then blaming the evil companies, society, capitalism, socialism, whatever ism just so long as you don't blame yourself. Generation Y in a nutshell?

[@paulgoogol2652]

@@jessehibbs7042 Do you understand the basics of capitalism? You take credits from banks and pray to god your investments pay out in the end while banks collect their credit taxes and sell debts in packages to other banks just to get that juicy snowball of debts rolling. just like Russian roulette until it explodes in someones face.

[@SammyNeverEver]

Paul Googol not quite right sir

[@LizFromDecencyUnited]

I'm 53, and have NEVER owned a credit card. I've had some great jobs, that paid a substantial salary.. and some, not so great. I adopted a policy of 'if I can't afford it, I don't need it', thru my life. And now, I'm the only person I know, my age, that is DEPT free!

[@lochinvar00465]

That would be me too, except I ended up with a girlfriend. She had no patience when it came to finances. When she "needed" a car, it had to be "right now" and she would come up with all sorts of ways to "rake up the money" no matter what the interest charges following that would be. Fast loan companies were usually her preference(with interest rates of about 200%). And there was no way to get ahead this way. Credit cards, have a much lower rate, and minimum payments(over an even longer period) and even if you pay more in the end, at least it was manageable on our low income. Finally I'm managing to get the credit card balances coming down, but it is slow progress. One card finally paid off, 4 more to go.

[@LizFromDecencyUnited]

lochinvar00465 - Wow! That really sucks. I would have sat her down and explained the ways of the world to her, and set some 'boundaries' when it comes to finance. Hopefully, if she homed in on those 'easy fast credit' places, she didn't talk you in to putting it in your name.

[@LizFromDecencyUnited]

For some bizarre reason, in today's society... I somehow managed to be one of the 'few', that yes, is dept free. Tho, I don't own a home, and don't foresee trying to buy one in my lifetime, due to disability killing my work options. So on the flip side, if I for some reason ever need credit, I'm kinda screwed. Funny how the banks will issue credit cards to teen agers with minimal work experience, but they won't issue credit to an older person, with a lifetime of solid, high paying work history. Odd, huh?

[@ryanburke2305]

@@LizFromDecencyUnited there are other ways to build credit too, do some reading as it would take me too long to break down in a youtube comment. Credit cards are the easiest way, but by no means the best or even the fastest. Paying rent, car notes, mortgage all affect your credit score and when you pay it off, you actually have something useful in your posession that can be used to make even more money. Pay off a credit card and you still have nothing

[@LizFromDecencyUnited]

ryan burke - Thank you for the kind thought and info. I know of most of the decent ways to build credit, without a credit card. I've bought a couple of used cars from a friends lot, and have a great rental history, as well as mortgage (on an owner carried contract, but had to default due to divorce, no penalty) It's been a couple decades since I did the cars and house, but, at this point in life, I don't think I'll be in a position to be applying for credit or needing it for anything critical. Disabled due to an uninsured drunk driver, had to drain my savings and retirement, and now looking at SSI... it sucks. Went from not needing credit, because my job paid decent, to....... this. Alas. But, thank you again, that was thoughtful of you.

[@Acid_Ash]

Every time I watch these parody commercials I cough a lung up laughing. Roger’s big energy and comedic style is too good ❤️

[@Valefolken]

Never owned a credit card. Never will. Was always told I'd need a credit card in order to get a house or a car. Well, now I have both, without a credit card, and my score is in the top 1% of the country. Do not take financial advice from anybody who is not exactly in the financial situation you'd like to be in. If you're taking advice from someone in debt just because they're "older and wiser" you're going to find yourself in debt. Period.

[@Roger85able]

Your doing great Greg

[@ulisesdelaluz7063]

Greg Jones can you tell us how you did it? I want to know before I get into debt

[@Valefolken]

@@ulisesdelaluz7063 Save up and pay with cash. I bought a fantastic 2013 car for 6 grand upfront this year. No payments. Live within your means, don't borrow, pay your bills on time every time, find ways to save money long-term at the cost of short-term (ie. pay for your entire year of insurance all at once, you'll often get up to 25% off by doing so), and if you follow any one piece of advice while ignoring all the rest, it should be this; DRAW UP A BUDGET ON PAPER! It's so easy to spend your money when you don't have a firm grasp on what you make vs what you spend.

[@amarjeetpaul5418]

Good advice

[@ulisesdelaluz7063]

@@Valefolken so how can you manage to lets say buy a house? the car part is pretty well said and all but i think what most people want to know is how to afford to pay out a house when saving up can work but sometimes it doesn't due to the high rising prices of homes, for example in the bay area if someone were to save 500k by 2009 to buy a home and to this day they have saved close but a little less than that but the house price rose to 1.1 million then when will someone meet even?

[@DunklerZebralord]

Those honest commercials are so good man

[@cracked]

Thanks!

[@ResidentOfTheAbyss]

DunklerZebralord I agree! Cracked really exposes the truth about these faceless corporations!

[@scarletrain2941]

what do you mean by "exposes"?... this is common knowledge... they take information, that you can find with just one google searche and add a few jokes... funny video nonetheless

[@rockday701]

Scarlet Rain you would be suprised at how many people dont have common knowledge

[@davidam9454]

That's the price of being honest in ruining other peoples lives for profit

[@someguy4384]

As a former credit card salesman, I always recommend that people don’t get credit cards. Ever. If you NEED one, for whatever reason, then treat it like a debit card. Pay the entirety of the debt off at the end of the month so that there’s no interest, or as much as you can. Minimum payments lead to impossible debts and a spiral of changing companies and cards over and over.

[@petervlcko4858]

Trent Pattillo if I have to pay every single month my credit. I tell you straight aware that, unless you don't hide that fact in front of me, you can be robocop of selling credit cards you will never get me, just because is it not convenient. I don't have time to meditate and sleep properly and will spend it where I don't have to. Noooooooooo

[@epiksar]

Trent Pattillo I agree with everything you said except for one tiny detail. People who follow the behavior in your second paragraph don't use credit cards because they "need" them; it's part of their daily life. Otherwise, yeah, I agree with everything you said

[@SniperPIKACHU]

I use the credit card as a debit card because of cash back reward. Also, if there is a fraud, it will not immediately affect my checking account because I have a separate account ( credit card account). I can then call the bank and have them to fix it. For instance, if there is an unauthorized charge of $800 appears in my card and if that's a debit card, it will take me a week to get cash back or 2 weeks to get a refund if an investigation is required. During that 2 weeks, if I need to pay bills, this can affect me and my quality of life. Credit card won't have such issue. Of coz, I can do the same thing without a credit card by opening a 2nd checking account and use the associated debit card of the 2nd account. I can store money in that 2nd checking account from my main checking account to "charge up" the debit card. It's like a pre-paid cash-card. But again, there is no cash reward and how on earth I am going to build up credit score? I really do not like using credit card in the first place but is there a way not to live with but still able to have credit score built?

[@GraveUypo]

that's what i do. i pay it in full every month religiously. no issues whatsoever. never been in debt in my life.

[@zephyr2833]

Than how do you build credit.

[@Artificiallyyours]

I like it when he says “this is going to get a little technical and crime-ey"😂

[@Genericusername74]

This man has transcended sarcasm. He hasn't taken it to a new level, he's taken it to a new plain of existence

[@scottdoesntmatter4409]

It's "plane", not plain.

[@Genericusername74]

@@scottdoesntmatter4409 Online spelling mistake eh? Sounds like the perfect example of something that doesn't matter...

[@jmason2838]

**plane**...☺️..✈️

[@StealthyDead]

That's called..... ready to learn a new word??? Satire. Bu Dummmmm

[@ezekielanderson9055]

Yeah it’s called reality. Credit cards are a scam

[@andreasrs69]

Ironically I had a credit card commercial before the video

[@syedthefunnyguy7570]

Some guy do wonder what the expectations be like

[@seededsoul]

I had Western Union!

[@vapor1017]

Some guy that's coincidence not irony. Eg. Driver who caused highway pile-up later hit by drunk driver. Coincidence. Woman stabs husband to death with a rifle. Irony.

[@justiny.7503]

No... you didn’t

[@zfid]

All of the "..if ads were honest" that I've watched seem to have product ads beforehand related to the subject ie BMW ad before 'if car ads were honest'. Probably due to word target advertising. Quite funny really

[@TheTallMan50]

It's ironic that I am watching this video a week after I paid off my Capital One credit card. Incidentally my credit score jumped to 754.

[@gallardowilliam]

Its like your grandmother telling a killer how to kill you.

[@firstname3255]

TheTallMan35 That's pretty bad.

[@Atop316]

ooh my!!! you are doomed, how hard is it for people to have 0 credit ??? it never hurts not to borrow.

[@firstname3255]

Life Saver L.S I think credit cards are the single greatest scam of a lifetime, across multiple generations.

[@PoopLoop202]

pretty hard, considering if you have 0 credit, most places won't let you take out loans, won't let you buy a house, won't let you buy or lease a car, etc, not to mention if you have 0 credit, your insurance rates are insanely high. As an example, before I had any credit, tried to get insurance on a 2005 Buick Lesabre, plenty of safety features, a clean driving record, and other things that would bring rates down, but with no credit, the lowest monthly payment I could find, was about 500 a month, for a 10 year old car. After I got credit, I was finding rates as low as 230 a month, which isnt too bad! (For full coverage)

[@Juan-zi3qs]

At first I thought “damn banks are complicated I’d rather not go through all that paperwork” but after this it’s really made me think I shouldn’t get involved with them in any way possible

[@DoomFinger511]

Credit Unions are the way to go. They usually have zero fees or balance requirements. The only thing banks offer is they have more physical locations and if you need a loan you can usually get a bigger one from them compared to a credit union.

[@tobymacdonald5893]

@@DoomFinger511 and a lot of other stuff. like investment opportunities.

[@DoomFinger511]

@@tobymacdonald5893 Like what type of investment opportunities?

[@robertmcmillan3638]

Most investment firms are now dabbling in bitcoin whether their investors know it or not. Stay away from bitcoin folks. If your investment portfolio has stealth bitcoin investments hidden away amongst it somewhere along the line, be very wary......afraid even.

[@deus_vult_1099]

@@robertmcmillan3638 it’s usually a small part. And it will probably go up in the long term (I’m talking like 4-5 years)

[@t0nito]

"Why use gross paper covered with pictures of dead guys when you can use my square piece of dinossaur carcus with numbers on it?" LOL!!!

[@ListenToReason88]

This video piqued my interest. 24.99% of it.

[@WateverWatever04]

Eddie Tefel 👏👏

[@kickhuggy]

Eddie Tefel boo, get off the stage

[@kourii]

+Eddie Tefel would have been funnier if you'd spelt *piqued correctly. Maybe.

[@ListenToReason88]

kourii thanks mate

[@kourii]

+Eddie Tefel no prob. Sorry if I came across at all snarky; I was cross about something.

[@dthompson5374]

wanna have money without having money?

Ty Tommy This guy is talking to Bernie Sanders voters who wanted the nation to use it's credit card. We can't afford to use the national credit card you basement dwelling tards.

[@afenismama]

Khashon Haselrig lmao

[@jkfecke]

@AL Dude, yes, we heard you the first time, even if it was a good point spamming it doesn't make it better.

[@injeraenjoyer4570]

Ty Tommy Yeah but I'm not a tool

[@rdreynoldsbanana]

+A L who wanted the nation to use it is credit card? What does it is credit card mean?

[@asahdo]

I think it’s messed up that to get a mortgage/credit score in the US you have to have a credit card. They don’t have that in U.K. I’ve never had a credit card but I’m considering one just for that section 75 thing if I accidentally get scammed or something.

[@meseretgglove8093]

please dont compare UK to US. Murica is a scam lool

[@DoomFinger511]

Get a secure credit card from a bank. Those are credit cards that you give them cash first, and the amount of cash you give them decides the balance of the card. This way you never go in debt because if you can't pay they use the cash you gave them to pay off the balance. Start with a small amount, like $300, only use it for small purchases like gas, and pay it off every month.

[@Cody_Ramer]

Seriously though a simple google search would answer your question. You don't need a credit score to buy a house. You can just use manual underwriting.

[@asahdo]

@@Cody_Ramer just to clarify I live in the U.K. and have bought a house and to have a good enough credit score all I needed was to be on the electoral register, have always paid my council tax and bills, and not to have big unpaid debts (other than student loans).

[@user-bk4ml7bs3d]

He makes it seems as a joke to laugh but he actually right and truthful in every commercial 🤣🤣🤣

[@User-ju6cf]

WHERE IS THAT MAN?? WE NEED HIM!!! Seriously though

[@saimon174666]

That is the whole point obviously..

[@Veldazandtea]

It's both.

[@DeynatheTaggerung]

Sure, the cards are a scam, but that's only if you don't treat them like debit cards. If you did, then all the perks and rewards and benefits is like extra money in your pocket. It also helps to download your card's app so that you get a notification every time you swipe, to help keep better track of your spending. Plus, credit is safer than debit, as it is easier to get the money back from a credit card company when something goes wrong than it does from a bank. Might have something to do with credit not being real money until you have to pay that bill.

[@Masterofmultiverse]

Good perspective. Thanks.

[@elizabethsullivan7176]

Debit cards don't spend money that you don't already have in you bank account.

[@Masterofmultiverse]

@@HWEWSWEW - charging interest on money loaned is considered grossly immoral according to most prominent religions of the world as well. Reason: It is simply immoral to take advantage of somebody in need! Ethical conduct is to help someone without taking advantage of their troublesome position. This is why to parasite off of interest will always be considered unethical, unjustified, immoral, as far as such philosophical discourses go!

[@Masterofmultiverse]

@@HWEWSWEW - In principle, charging interest on anything lent is, and will always be considered morally lacking. Most proper religions also prohibit this strongly. And you speak as if charging interest is the reason for mankind's technological advances, which is ridiculous. People who live off of charging interest are always seen as untrustworthy, and will be, because it implies the creation of value, not out of labour but merely by virtue of having a surplus, and taking advantage of other's need. This surplus could very well be ill-acquired as well. Don't just think about 'high-heels', also think about ploughing instruments or seeds which a poor farmer might need to earn a hard living. You must know of debt-traps. That is that.

[@eurosonly]

@@Masterofmultiverse Interest is such a scam. I give you money then you give me more money than I gave you in return when you pay off the debt. Like, what am I paying extra money for?

[@FastDuDeJiunn]

i know i am in the minority. But i had a card since i was 16. And i never used a credit card to buy something i couldnt pay off. I have 8xx credit score. after 20 years. never paid a cent in interest. and made plenty of cash back that i used to buy gifts. I live minimum wage jobs. So it can be done. But yes most do not watch their spending and have the will power to say no when they cannot afford something.

[@bilbo_gamers6417]

NOO NOPE It's ridiculous that you're in the minority.

[@benlovestorock]

Noo Nope, well said and well done. Me the same but only had a credit card when I was in late twenties and used extensively recently. Just pay on time and all will be well. If cannot pay on time, don't use credit card. Must really budget and not be tempted to get the latest Hi-Fi and smartphone etc

[@leezhieng]

I always check my bank account balance before I use my credit card.

[@eyestoenvy]

Hear hear!

[@jamezdean8595]

I'M IN DEBT UP TO MY EYEBALLS

[@thenerdbeast7375]

Fun fact: debts don't transfer to one's children unless those wishing to collect can trick them into voluntarily taking responsibility for the debt.

[@morningwoodfarms713]

True and untrue. If children or other relatives co-signed for things that left the deceased in debt, usually, the debt will then become their debt, because it was their loan too. Also, debt after death is settled through the estate. If loved ones are expecting an inheritance, they may get less or even none, because the debts will be paid back/taken by collectors first.

[@Nuck_Chorris69]

@@morningwoodfarms713 minors can´t legally sign or agree to anything

[@Misteribel]

This highly depends on the country. In many European cooky l countries, the debt can very well be transferred.

[@mettamorph4523]

​@@morningwoodfarms713cosigning makes the debt your responsibility whether the original borrower is dead or alive. Never cosign to prove you trust someone. You hear that girlfriends?!

[@mettamorph4523]

Unsecured debt after death has a time limit on collection. Creditors must go after the estate within state time limits.

[@QuidamByMoonlight]

The secret is to, ironically, use a credit card only when you *don’t* need it. If you use it like a debit card, and pay it off every month, or several times a month, your credit score will be lit. You must never overspend though, or you’ll be caught in that debt for a long time.

[@NTNinja]

Thats just called common sense But some people dont have it

[@EvolvingLark]

That's exactly right. And, also, get one that has cashback that is applied no matter what. That is, the cashback will still apply even if you pay it off in full all the time. That way, you would have had to pay less than what you would have paid if you used cash. Your credit card will actually be working for you instead of eating at your funds.

[@nordinator89]

But why you need a good credit score? So you get caught in another bigger trap

[@0daadaadaa0]

@@nordinator89 To qualify for loans with preferential rates offered only to those who have good credit scores.... loans I don't really need, but very handy when I do need to grab one.

[@nordinator89]

@@0daadaadaa0 "preferential rates" that's what it is called a trap.

[@isaakharms2656]

So basically credit cards aren't a scam, your lack of self control and common sense is

[@ronnie8317]

that's what there betting on because that's how most folks are...

[@isaakharms2656]

@@ronnie8317 it's almost like high schools should touch on this in a required class throughout the nation

[@ronnie8317]

@@isaakharms2656 yeah they should but the rate there cutting out life classes in high school home economics, music seems like they want to wack PE too. Rich Dad Poor Dad writer get furious how we are only taught how to count money and that's it

[@Flappybirdys]

Isaak Harms in Australian schools, they teach how to pay taxes, why never to get credit cards, how to buy houses, basically al that practical shit.

[@manictiger]

I've been saying for awhile now, that people enslave themselves.

[@FangerZero]

The one bit of advice I took from my 8th grade math teacher, if you're going to use credit, pay it off every month so you don't have to deal with interest.

[@arxci9402]

In general, use it on small things such as gas and groceries so you can rack up easy credit score.

[@johngill2853]

@@arxci9402 no I use it on everything so I can get as many Cash back rewards as possible

[@TomMcMorrow]

Saw this right after reading a paper released recently by the Federal Reserve that empirically shows credit card rewards overwhelmingly go to wealthy and educated cardholders while the uneducated and poor are the ones who actually stand to lose, even when the card has no annual fee. Also, the income companies receive changes by demographic. Financially illiterate consumers are valuable because they pay lots of interest. Financially literate consumers pay little interest but are valuable because they rack up swipe fees to merchants.

[@Ben-bb7mi]

AMEX tends to target the sophisticated consumers as the perks you get for using the card encourage you to keep swiping even though they know they're not going to earn a dime of interest from the average Platinum Cardholder.

[@TwistyTrav]

The swipe fees paid by the merchant get forwarded to artificially inflate the shelf prices for the customer. Therefore, the "cashback" benefits are actually just a way to recoup the cost of the higher prices on everything you buy where they accept credit cards. Unfortunately, this also essentially makes swipe fees into a form of inflation because it automatically devalues paying with cash or debit.

[@Ben-bb7mi]

Yes and if you pay in cash, you're still paying those inflated prices so you might as well get a credit card and swipe to get those benefits. @@TwistyTrav

[@ALLINKNOTS]

I use credit cards to get the rewards and pay the entire balance off when it’s due. Don’t buy more that you can afford and credit cards CAN work to your advantage.

[@ezequielfelau425]

Its not an advantage. businesses have to charge more in order to cover credit card fees. So your "rewards" are already charged in what you bought. They always win.

[@ALLINKNOTS]

Ezequiel Felau I would pay the same whether I paid with a credit card or not- so if I get something back from the credit card co. afterwards, then yes, it’s an advantage for me.

[@ritwikreddy5670]

@@ALLINKNOTS yeah, and if everyone spends money like you, the credit card companies won't have profits and will eventually close down.

[@ALLINKNOTS]

Ritwik Reddy Lmao. No way! There’s way to many irresponsible people in this world. The few responsible ones will always be able to enjoy. Unless it’s a shit credit card that offers nothing but high interests rates- in that case, I’ll pass.

[@ritwikreddy5670]

@@ALLINKNOTS yeah

[@dustinl796]

This video made me want to get rid of my credit cards, paid 2 off only 1 too go

[@mhan6601]

Good job! AND you will look "Trustworthy" for a long time too! I haven't had a credit card in.. 10 years? This last one here somehow never got canceled, but doesn't have interest on it. I just buy small stuff to "Keep me looking okay" on paper.

[@bottledoo3639]

Dustinl796 Videos why did you get the second and 3 card? To pay off the first or an adventure? Or a new car tell me a good story please

[@Terminalsanity]

Just pay them down to $10 then only use them once a month to make a small purchase and pay then immediately pay it back down to $10 again you'll inevitably need a line a credit eventually. You have to play their game so play only as much as you have to on your terms to your advantage.

[@poyi1013]

I just use them for gas and use auto payment.

[@epiksar]

If you use auto payments, it's like using a debit card. Never neglect paying your credit cards in full every month. If you do that, you're stupid and should cancel them. But most people should be able to set up auto payments and not over spend. Plus, you get rewards benefits that debit cards don't give. It's just that for some reason, people can't.

[@SonicXRage]

This is 10 times funnier to me since I took Dave Ramsey's Foundations in Personal Finance. I'm so glad that I won't have to succumb to several _"dinosaur carcasses with numbers on them"_ after taking that elective. I feel like my adult life was saved before it even begun.

[@GIJew]

What, did that idiot teach you that "credit is evil?" You'll find out how it's the exact opposite when you're 25 and want to get a mortgage.

[@Tamara-ju3lh]

I love Dave Ramsey!! I know so many people who have followed his plan successfully and have paid cash for their homes, cars, kid's college, etc.

[@wellesradio]

Henry Black Nope, is Ramsay’s system prevented people from buying homes, he wouldn’t be as successful as he is.

[@wellesradio]

Henry Black Essentially, Ramsay’s advice is to save money for a large down payment and get a manual underwriting. And then, here’s the crazy bit for people who aren’t used to saving money, pay the house in full with cash. Revolutionary, huh? Believe it or not, saving $250k is actually possible if you’re good with your money.

[@WOLFGANG634]

I took his class at 18 with my mom and older sister. He came to our church and it was such a fun experience.

[@Adsghb]

Only use less than 40% of your credit limit, pay your complete bill amount timely & never go with the banks offers on unnecessary shoppings. Only then your credit card won't push you in debt, else this youtuber is absolutely right!!

[@olgerkhan9331]

Or just buy what you can pay for.

[@Youdontknowwhatliterallymeans]

Studies show that people who use debit/cash spend less, so your cc is costing you even if you pay it off every month. Here's a novel idea: If you can't afford it don't buy it.

[@thexreaper6930]

@@Youdontknowwhatliterallymeans But you also need a good credit score so you can get your own place. It's pretty much the only reason why I use a credit card.

[@Youdontknowwhatliterallymeans]

@@thexreaper6930 Not if you use manual underwriting.

[@MrVTeta]

They still earn the fees they charge the merchants, and for that they increase prices. And you pay the increased prices.

[@miz_logo_lee]

This should actually be shown in financial literacy courses

[@ProfessorFickle]

lol one video will not stop impulsive behavior. you are idealistic....

[@markdoldon8852]

Financial literacy should be taught in high school. A mandatory course for graduation.

[@MrGogoZec]

Yeah, drop out and get a job! Doing what, exactly? The only job you'll be remotely qualified for is bagging groceries at a supermarket. I mean, sure, I guess you could try and learn a trade. Btu there are only so many trades and not everyone's cut out for manual labor. Not everyone wants to do manual labor. Good luck getting a non-manual labor job without a college diploma, let alone high school. College is not for everyone, I will give you that. But you should absolutely finish high school, or at least get a GED. That way, if you ever do decide to go to college, you have that option, and potential employers won't think you're a fucking failure who couldn't even put in the minimal effort required to finish high school.

[@scooterman30]

This is the exact type of brainwashing I HATE. Its all bullshit. You do not need a degree to have a net worth in life. I understand college benefits some, some require it. Thats fine. But hearing go to college, or your a worthless piece of shit? You can just go fuck off. I got that basically in high school and had the college fair etc for better opportunities like I was supposed to just be a cog.. Here is the fact for me. I have an associates in building websites "web technologies". Want to know something? The government funded the degree. 2. I have never used or got a job FROM that degree. In fact I learned nothing important from the classes. I admit I know I am a bit of a "gifted" person in that I am naturally technically inclined, and I self-taught myself, but regardless that can apply to anyone who puts in the effort. Oh and right now, I am making about 81 an hour as a freelance engineer with no formal education that taught me that skill and have plans to start some other ventures. I did start out at shit money, but I went up in ranks with showing experience and past work. The world isn't just you working and being a cog in a corporate machine, but also you being the machine!

[@heathercraig8243]

Logo Lee I strongly agree. ^.^ Funny and educational, rare combo.

[@Ikneeslp]

Cashback!? Was that a Tina Fey shot

[@360comedyfilms9]

Lol

[@BradleyRichards]

Who let Dave Ramsey write a Cracked segment

[@nightfurymoderator3940]

Wanna have money without having money? Best definition of credit cards.

[@Michael-kn5ls]

They key to a good score is multiple LOW cards with low usage that you pay off in the same month like a debit card.

[@22kpar1xcyberdyne9]

I use cash. I carry cash. I love cash. But there have been many times where I was treated like I was poor because I don't have credit cards. Great feeling to know a working man with cash is considered poor or undesirable in this World. Lol.

[@citatap]

It's also great to know that people think they themselves are rich because they borrow the banks' money.

[@GoW3Suks2]

Faizan Ali how were you able to establish credit? Unless you are rich and bought everything outright such as house and car.

[@citatap]

You don't need to be rich to be able to buy a house and car in full. You just need to know how to handle money responsibly.

[@GoW3Suks2]

SinonMercer by living with your parents to save the money?

[@citatap]

Yes. That's why people should start when they are old enough to get a job.

[@TechComputers]

Where can I get the HortonCard?

[@REDPotriats757]

My name last name is Horton lol

[@jeedoo]

You can get it from horton hears a who bank

[@DanaTheInsane]

You are safe as long as you remember its money. But 99.9% of you won't.

[@obaidsyed1]

credit cards are the best if you pay off every month and avoid interest

[@movie30000]

If you can pay off on time, why would u credit card? To get 2 percent back ?

[@robertrouillier6319]

@@movie30000 That's exactly why, yes. It's a 2% discount on everything. Use your credit card for your purchases, and have your bank account automatically pay off the card each month. If you're like me, you have a travel card that gives you 1 free trip per year just by switching the way you pay. Also builds credit. Just have to know what you're doing. Credit cards are also a safer form of payment than Debit Cards or cash.

[@joshuajoe1419]

I spend roughly $2,500 a month on my credit card and pay it off each month. I get lots of points and never pay for flights. Credit Cards can be useful if used wisely.

[@vijaysridhar351]

True dat.

[@eltigueraso]

Arash Sh people like you are the people that have no financial education dawg, there’s more of a purpose to a credit card than “ 2 percent back”

[@imgaryrb]

It is only a scam to people that have no idea on how to operate and profit on them...

[@mydogskips2]

That's most people.

[@imgaryrb]

Yeah, its sad the lack of financial education we have nowdays.

[@societalreject4]

@@eltigueraso a fine man of culture I see

[@Serjo777]

@@imgaryrb You don't need _any_ kind of education to know that lending 100 dollars and paying back 125 is a sh*t deal.

[@Smasher0404]

@@Serjo777 Except Credit Card companies don't charge interest if you pay off your balance at the end of the month every month. So it's less paying $125 on a $100 balance and more paying $98 on a $100 balance through cash-back and other perks (although that often results in a higher price for goods as the merchant has to pay a fee to the credit card company to allow the usage of credit cards). And the thing is, Credit Card companies don't mind the people they don't get to charge interest to, since they still form a reliable income stream through merchant fees.

[@questioner1596]

Paying the whole statement every month on a no-fee card keeps you out of the interest trap and you get 1-2% cash back on everything. It's a better deal for you than paying cash or debit. However, the credit card companies still make money because they charge the retailers 3-5%, and they require retailers to charge the same inflated prices to cash and debit customers. I'd rather we all pay lower prices, but since I can't change the system, I use a card to buy everything and pay it all off on time.

[@LucidDreamer54321]

I have had credit cards for about 30 years and have never paid interest. And since I have a AAA card, I get a discount on gasoline. Therefore, I actually spend less money by having a credit card.

[@LucidDreamer54321]

@hardassteel Isn't that what I just said?

[@LucidDreamer54321]

@hardassteel I'm sure you make your own gas in massive volume. Be careful when releasing it.

[@LucidDreamer54321]

@hardassteel Hopefully you won't explode like the Hindenburg.

[@anonimanonim2710]

Now I want to start a credit card company!

[@renzo6490]

I have a credit card. I use it only when I’m not carrying enough cash. I never spend more than I have. I pay off the charges in full every month. My credit score is 791.

[@bramvanduijn8086]

Congratulations, you are winning a game at the casino. You do know that the house likes winners because the winners pull in more suckers, right? The house always comes out ahead, the same is true for credit companies.

[@MrOrbion]

Can you stop. Typing like this. Because it's annoying to read.

[@renzo6490]

@@MrOrbion... I find it is easier to read.

[@shafserious2805]

Temptation will still be there. Only a matter of time

[@renzo6490]

@@shafserious2805 ...Do you mean that one day I will owe more than I can pay? It's possible should I encounter some extreme emergency. But I've had a credit card since 1990 and I have never paid a cent of interest.

[@willagresham2978]

"This is going to sound a little bit crimey." mhmmmm

[@derflop]

If you treat credit cards like they're debit cards, all that cash back is money YOU get to keep.

[@tobyvision]

Funded by the tragic mistakes of people who are not as smart as you.

[@RavenclawFtW3295]

Credit card companies should be classified as scams.

[@peejay4606]

I can't wait until I receive my Horton card. Debt here i come! 😉

[@SDguy3030]

The american way!

[@diazgloriam.6913]

😂😂😂

[@tobyvision]

I don't have money but I do want to have money!

[@Wipeout325]

I use a debit card to buy things online, do they not exist in America? Or did they just choose to ignore their existence?

[@Wipeout325]

Kiljaz Ink oh ok, I wonder why didn't they bring that up in the video.

[@killercroc99]

Because Debit cards are actually somewhat honest already

[@Wipeout325]

Drew Daniel all the more reason to mention them here as an alternative.

[@UpcycleElectronics]

Debit card honest!!!?? Lol. If you call intentionally redistributing transactions to increase overdraft fees, and charging you/making it difficult to access what belongs to you. There is nothing more dishonest than arbitrarily inserting yourself and charging/restricting a person from accessing what rightfully belongs to them.

[@Wipeout325]

Upcycle Electronics I don't get any of that from my debit card, maybe should change bank.

[@nebeltumanov61]

This is Epic. KZbin thought is would be appropriate to play a credit card ad at the end of this video.

[@akallio9000]

Really? Using AdBlock Plus here...

[@thexreaper6930]

Word of Wise: ALWAYS PAY YOUR STATEMENT BALANCE EVERY SINGLE MONTH!!!!!

[@altaccount648]

automatic payments are a W

[@LOUNGELIQ]

Word of Wise: Use Paper Money!

[@thexreaper6930]

@@LOUNGELIQ Can't get a credit score without using a credit card.

[@altaccount648]

@@LOUNGELIQ paper money is literally wasting your cash, no reason to use it over credit cards / debit with cashback

[@LOUNGELIQ]

@@altaccount648 What's wrong with using a cash?

[@alfiona7951]

"So you will always owe me money" Sounds like my parents.

[@STAR-qt8fg]

He got me at "watching what used to be free" ROTF

[@jonathandpg6115]

I don't understand what used to be free that we are now paying to watch?

[@cptTK421]

TV. Literally all the continuous things you paid for way back was the cable/dish, and the power for your house (and thus TV); and later on access to more channels, which you didn't need unless you're a weak-willed parent who lets the kids run the house. But now some shows are only on Hulu or Netflix, which require subscriptions ($), and other companies are slowly making the transition to streaming services, pulling their properties from those two and making them exclusive to their on-air channel (and that's a maybe) and the streaming service. (Disney, for example. I mean, I'll buy it probably, but things like their movies and the Filoni Clone Wars pre-Disney will be pulled from Netflix when Disney's app launches).

[@Zedsuss]

"..and doesn't that sound like it should be illegal? It's not. It's interest" 10/10 right there

[@24Sparja]

an interest in theft :D

[@hellomine2849]

@@24Sparja Getting a credit card without properly reading the documents is like signing to get your house robbed

[@jarvisblay9025]

Love this channel and have been looking at it for some years now , And the sarcasm that Roger uses to get his message across is magnificent 👍👍👍👍👍👍👍

[@constantinamundsen2487]

Credit cards are op when you choose the right ones and use them correctly

[@zp883]

The only logical reason to get a credit cards is if you plan on paying off the balance in FULL. if you dont then dont get one and tell people that credit cards are evil

[@JM-yx1lm]

Zeel Patel oh wow youre very smart there Einstein

[@MrYuriTambor]

Or you could just manage to get a decent score. Take multiples cards (as many as possible), use them and forget they exist. It might take a almost a decade to be able to another card buy hey, done right, you surely will buy more than you could ever buy in the same amount of time.

[@windsofmarchjourneyperrytr2823]

MrYuriTambor You know credit rating companies ONLY like major cards, NOT store cards? Example, if you had 2,500 and wanted a drum set, you MIGHT be better off using the points on a Visa, OR you could take the long term no interest rate loan for like 3 years. Sometimes you have to gripe for longer terms. But if it COSTS you nothing, that might be the way to go. Your Visa is in your favor, your Guitar Center card is kind of not. But wgaf IF you could buy it cash? If youre well into 800's, it'll make only a small difference IF you need to run credit for something like: car insurance a house a rental a car a job... it will be RIGHT THERE: we don't like you never had a mortgage well, yeah, NO SH*T. Know WHY? A mortgage at 4% for 30 years fixed, DOUBLES the cost of the house! Meaning mortgage is 300k? After 30 years, you'll have paid like 600 THOUSAND dollars! I'm.making the math simple; it really changes every month. If you pay 1,800 a month, multiply that times 360 (30 years). That's...hang on...yeah, 648,000! So, I think Dave is full of it, and so are the rest of them telling you that 800.00 a month in interest on your house you'll never see again is "good debt!" The government gives you a deduction for it..? Um, well, unless im.missing something, how is spending 10k in interest to get 3 back "a good deal?" it'll be in there, too many store cards. Well, if I got 15% off the drum.kit, then why do I care if they don't like it..? That's $375.00 back for what I'd buy anyway.

[@exantiuse497]

Zeel Patel You're right, that's the only logical use. It also means you make very little profit for the credit card company, i.e. you're a bad customer for them to have. Idk about the rest of you but I think it's not a healthy system when the company wants as few of their customers as possible to be smart and well-informed and wishes for as many of them as possible to be stupid and ignorant

[@mypackmypower1996]

"Paying for your education that won't lead to you a job" Hahahaha so true

[@RushZone]

"Want to have money without having money?" That was the perfect way to open this video 😅

[@AndyisAverage]

if deodorant or perfume commercials were honest

[@cracked]

*writes idea down on the list

[@AndyisAverage]

Cracked nice I absolutely love these videos

[@kagutsuchi969]

+Cracked Use Horton Brand Whale Puke, to disguise your bodily odors.

[@brackonstudios]

+kagutsuchi969 Natural bodily odors that would probably be helpful to you in finding a compatible mate. Oops! Did a social custom started by the rich screw over the commoner again? That's life! Deal with it or die alone. Cha-Ching!

[@murry001]

shut up Andy

[@msve3730]

Go paperless because we know you won't read emails 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

[@TheKeck]

As a few others have mentioned, credit cards are awesome if you only use them to buy what you would have used cash to buy otherwise and pay them off every month. Then you get cash back and it's just free money, plus building your credit. They should never be used to actually carry a balance unless disaster strikes (and then it should be recognized as the disaster it is.)

[@SuperKing604]

yes exactly and in case of disaster use a low interest credit card to mitigate the damage

[@9thebigcool]

Agree with your statement. The problem is some people see not being able buy their kids the latest game system an emergency and purchase it on their credit card when they have a hard time not even paying their bills. People need to learn when and how to properly save.

[@WookieSenshi]

BradTiffany Keck Exactly, credit cards are great tools that can be beneficial if used properly. I do however disagree with your last statement. You should have an emergency fund in place for such an occasion.

[@TheKeck]

Oh, I agree 100%. My last statement is meant to acknowledge extenuating circumstances that are worse than my own. Sometimes people just get in awful awful situations, and all of their options are poor.

[@WookieSenshi]

BradTiffany Keck true.

[@lemur-kaiser3912]

Literally you are charged for making charges. Ever since I was a kid this seemed so immoral to me. My mother calls thinks I'm crazy for thinking that. This video helps me beg to differ. Unfortunately, the world being immoral is also consequentially normal.