Why You Should Not Have A Credit Card ?

#amitsangwan
#financialeducation
#clarity
#youth
#higherorderthinkingskills
#creditcard
#creditscore
#credit

[@dahliajaji9547]

You should also make videos on why today's youth are wasting their time in watching videos of social media influences about lifestyle, fashion etc rather than using their time for some useful activity. It will be of great help to many youngsters . Thank you

[@gaurav25b]

🙏 sir, with all due respect I disagree with you on this, I have been using credit cards for last 14 years and have never paid a single paisa as interest or late penalty, rather credit card has helped me to tide over tricky situations, but yes financial prudence is the key.

[@aileen8492]

Can you please tell us which credit card you are using

[@websurfer12]

I am also using Citibank cc for 28 years never ever I have paid late payment interest or yearly renewal charges the point is you should have control on your expenses

[@gaurav25b]

@@aileen8492 : Amex

[@train_xc]

@@gaurav25b I’ve also been using Amex. It is amazing actually

[@train_xc]

@@websurfer12 I pay renewal charges. Amex generally do not waive them. But gave similar or more amount of points which can be redeemed

[@vaibhavis1]

I never use credit card. But one dumb thing I find in CIBIL Score is that if you never had a loan and never had a credit card, then you won't have any CIBIL Score, which is in a way idiotic because is it wrong that I never do over spending. Instead a person who never took a credit should be given most attractive discounts on loans

[@train_xc]

It is not dumb thing. Cos will have no information about you if you’ve not taken a loan. If you take one, company can analyse your spending power, payment discipline etc

[@train_xc]

Let say I’m a bank and two people A and B applying same amount of loan. A never took a loan. B has a credit card history of 15 years, in which he have not defaults a single time. For me as a bank, I’ll definitely trust B and put more favourable offers on his table

[@Iam_sunnyjain]

I have 7 credit cards, my experience is that you can manage paying back on time but it surely increases your overall expenses, you dont feel that pain of losing money using credit cards which you feel when you pay using cash or debit cards, credit card is something which you have to handle with responsibility

[@ajaylamba2073]

Sir, every one might have his opinion abt CC, but the reality is that they are meant to trap the customer not to help him, now it's upto you how you take it, bcz nothing is free in this world, superb video, thanks alot..

[@shraddhajoshi1535]

I do not use credit card, it reduces stress in long run.

[@BD-od5ys]

I have been using a credit card for 1 year now. I save around 5k-6k every year . If you pay the credit card bill on time then no problem occurs. Money spending discipline is must

[@Sample-Alok-Youtube]

If you use your credit card, your CIBIL score will increase. Even in Debit card, you have to pay bills on time. And you get nothing for it. But if you take it in credit card. Then you are adding to your credit score. Meaning, Your basically saying, I have the capacity to take loan and pay it back. This you won't get in debit card. I think the problem is, People don't really know what a Credit Card is. They think its some loan card. Its a rewards card and used for safety. If you use a Credit card, and lets say, some 1000rs fraud happened. Its not your money, its bank's money. They have their entire team running after their money. But if you loose 1000rs Physical cash from your wallet, No one is going to care.

[@vaijoyantakundu9670]

Simple and profound...always had doubt on the benefits ,yet move along with flow...must watch for all middle class family for clarity and sukoon

[@adarshgoyal7056]

It took me 8years to learn that credit card is a trap. I agreed with everything he says.

[@ShivamGupta-io7en]

I'll use it, & I use it in a way that doesn't affect me with any kind of stress or anything that attracts me to buy just because have CC. & you are saying right, If any point, I feel that it's affecting my mental health or anything related to that, absolutely I'll follow your guidance. Thank you for giving a different perspective.

[@aileen8492]

Can you please us which credit card you are using. I am confused.

[@sailalit]

Sir, I have been using the credit cards of multiple banks since 16 years. I keep track of all the usage and in turn make money out of it. If we know how to use a sharp knife carefully, you can create wonders with the vegetables...similar case is with credit card. Once we master the game, its a world of wonders. However, as you said, any negligence can throw the person into a vicious circle of debt. Really appreciate your hard work in getting fresh ideas.

[@savage3974]

TELL ME THE GAME OG?

[@chowdharysaab1673]

I am 100% agree with Sangu ji. Credit card is a makadjal of barbadi in simple straightforward approach. 👍👍👍🙏Udhaar ka ghee khane se 100 guna achha hai ki sukhi roti chatni ke saath sukoon se kha lo.

[@itto1282]

Credit card is an instrument which can do wonders only in financial versed persons life, normal people,ignorant etc should not fall in its trap, first educate yourself have a stable primary income then enjoy its benefits without worries 👍

[@boejiden1524]

CREDIT CARDS IS WAY TO MAKE PEOPLE SPEND MONEY WHICH THEY DON'T OWN

[@robby1992]

I agree with all your points Sir, but there are still some benefits which are critical and are not there in debit card. the best way is to have lifetime free cards only and for offers, add the amount in the card before payment , just to get the instant offer.

[@train_xc]

The best rewards in CC are the ones where you need to pay annual charges

[@pritipant3740]

Like your videos… it gives clarity n better thinking 💭

[@shouryabhattacharya2284]

Does this not go against the philosophy that you should drive a car even though accidents do happen? Get airbags, wear a seat belt, and learn to drive a car. I think debt is a brilliant instrument and there is no better way to learn about credit than to have a credit card with a low spending limit. One has to learn to handle debt in very small portions to start with, and be comfortable with it. Warning: Debt can be addictive.

[@vikasdubey1960]

Youth should go for it only if they are extremely disciplined and have a habit of not spending extra just because they have CC. CC have huge benefits and i personally own 3 having different features with different payment cycle and all are lifetime free. Best one is HDFC with outstanding redemption ratio of 1 point equal to 1 INR on flight bookings.

[@aileen8492]

Which HDFC creator card?

[@vikasdubey1960]

@@aileen8492 HDFC Infinia metal edition

[@aileen8492]

@@vikasdubey1960 Thanks

[@debdasmukhopadhyay4692]

Nicely explained. Thank you Sir.

[@vinodgaikwad7883]

Sir, I personally feel that youngsters or those individual who are impulsive spenders should avoid credit cards...Those who are well versed how credit card works, for them it is one more arm in the Kitty to manage finances.Thanks

[@ClarityForYouth]

The energy to manage can be used in making money

[@train_xc]

@@ClarityForYouth there is not energy lost in using.

[@kumarmayank6187]

I am at 20 and your experience is great for us sir🙏 Thanks for the quality advice ❤

[@abhishek1995ize]

Contrary to your point, I use credit card, and use only & only on necessity items

[@deepakvishwakarma2043]

Cibil increase hua kya us se?

[@abhishek1995ize]

@@deepakvishwakarma2043 somewhere between 780 to 815.

[@deepakvishwakarma2043]

@@abhishek1995ize how much time ? To get above 800 Mine 768 , I have apply for sbi simply connect CC , just to increase cibil I don't need it

[@abhishek1995ize]

@@deepakvishwakarma2043 i am using credit card since 2018, i believe regular monthly expenses are required to that and also it should not be more than 20 to 30% of your credit limit. Just check my current cibil score is 822. I observed one thing adding credit cards is not bad things if you use them regularly or more frequently as I have 4 cards and i use all of them.

[@deepakvishwakarma2043]

@@abhishek1995ize thank you for the info,I just started my financial journey , I will keep your points in my mind while making any financial decision.

[@tuheensharma2296]

You are absolutely correct sir 👍

[@siddhrajdhadhal8372]

Have you tried to book a train or bus in Europe without a VISA credit card???

[@shankersah6430]

Sir, I am looking for a home loan. Loan RoI depends on CIBIL score. So far without a CC, my CIBIL score is -ve, consequently am being offered loan on higher RoI. Wasn't it advantageous if I already had one. Please guide.

[@ravneetkaur2151]

Totally agree with u.

[@radhika7805]

You always bring very brilliant topics sir.I totally agree with you. I feel those who always have shortage of money they go for credit card option. If we cannot buy something in down payment we should wait instead of landing up in loans and paying heavy interest for it later.

[@KD-dj1iq]

Well said sirji.

[@NeerajYadav-ed4wk]

Guru Ji 👍🏻 Have had similar issue once with EMI conversion during Covid, Commitment not adhered to by Bank and levied interest. Have not kept credit card since..

[@nareshagarwal5605]

Sir please make a video on unemployment in middle class..

[@tusharsahu7577]

What about instant discount or cashback while using CC on purchasing electronic goods etc?

[@AfzalKhan0011]

credit card sehat ke liye bahut haanikarak hai, jo aapko bahut bimar kar sakta hai. kirpya isse door rahein

[@rashmikarnawat6315]

Sir absolutely 🎯

[@rajatsx]

I have had credit cards for almost a decade now and had completely stopped using them since one can easily go overboard with putting expenses on a credit card. I have restarted using credit cards to get reward points (I get like ₹300-1000/month). I only put monthly expenses on it which I could have done using my Debit card. I pay it as soon as I get my salary.

[@mayak2676]

Completely agree

[@DrNRI_Mom_inKorea]

You are correct but we can use in limit and auto deduction is best to avoid interest. Cc is not good for young blood who spent money without thinking.

[@neharikasharmakashyap2489]

I agree with you ,our older generation use to spend whatever they had not beyond the means.

[@sanjeevpandey4421]

Very nice advice

[@amitkanjilal1158]

Very nice advise. I am 31, still don't have credit card. I will never take it in future.

[@rak24ron]

I agree, better to avoid getting credit card. Psychologically we do not feel that we have spent. I think that only by paying in cash our mind registers that we are/have spent. (Even UPI payment or any electronic payment is not felt)

[@bharatsingh5788]

Ekdum correct, i was using credit card since long and i Just missed 1 payment and they charged me 1500, which I denied to pay. Later they kept adding charges and my CIBIl was updated with written off by 7000. And now not able to get any loan. Finally I had to pay 7000 and still struggling to get CIBIL clearance

[@BhavyaSaran]

Mobile order Kiya tha jo Aaj deliver hua hai. 1200 rs discount Mila 27,500 ke phone par. Credit card is very useful if you know how to use it. Also credit score build karne ke liye bhi kaam aaya hai credit card. Agar kuch saal baad achhe rates par loan Lena hai to credit card se Cbill build karna is a good move.

[@pritipant3740]

I’m always against credit cards

[@arvidelltd.3259]

I will have the Credit card, but I am not saying that you are saying "bakwaas" but what you said is absolutely right for average person. But I have only one Credit card and spend only my fixed expenses on it like rent, utilities and necessary expenses. Also I have set up auto-pay on my card and don't care about reward points. So Sir is right but only for average person who doesn't think correctly about Credit card, youngsters should not spend so much time in Credit card benefits.

[@dahliajaji9547]

I never took credit card, very good advice

[@koustavsuny]

Thank you sir, I will never have any credit card in my life.

[@pradeephanji740]

I have 2 creadit cards 1 sbi 2 axis.... I never open the seal. I kept them the way they are. (Thank God I get to know this fact earlier only)

[@MotoRhapsody]

Having multiple credit cards is definitely a trap but just one card to avail cashbacks can be good. I purchased goods worth rs 2.5L with credit card on diwali sale but without cashbacks it would be 2.8L so I saved 30k there with credit card. Ofcourse I dont even wait for the bill I make weekly payments to credit card already. this doesnt affect my CIBIL score i am using one credit card since 6 yrs

[@CARLOS74376]

you are absolutely right sir physiological stress

[@skabdulsattar1341]

You suggestion over credit card is appriciable.👍👍

[@sudheshsankarkk]

I can't agree with you on this Sir. I have multiple credit cards and It helped me to improve my credit worthiness. One thing, I would like to add here is that you can easily get lounge access on higher variant debit cards. Pro Tip- Always deduct the amount you spend on credit card from your account so that you will exactly know how much you're spending and how it's affecting your bank balance. If you don't do this then it may backfire.

[@train_xc]

For domestic lounge access, you can get even with debit card in India. But for international lounges, you need credit card

[@vermaved]

Using Credit Cards for the last 9 years and never paid a single penny in form of interest or penalty. Also, I do not worry about paying bills on time. I use credit cards for discounts only and make sure that same amount is available in savings account also.

[@ramchandrasharma5658]

Exactly right

[@SUMANDEOGHURIA]

Mene mera payment ka miscalculation kiya mera bill ka sirf 1000rs kam payment kiya tha isliye mujhe 2000rs interst fee and 360rs gst charge kar diya

[@dr.bhartitiwari4642]

I won't say u r talking rubbish, but Im using CC since 10 yrs. Never faced any issues till date, it's really helpful in emergencies... I paid hospital's advance through CC and got it refunded (insurance) before the billing date...

[@ddnehal]

I have credit card but only for online purchase with very limited on credit. so, if any online fraud happens then they cannot take more than that limit. I never use my debit card for payment to safeguard it from frauds.

[@swing_nikhilr92]

Sir namaste .. how to improve CIBIL SCORE for non credit card person????

[@sushant_atri]

Benefits to hsin, but the point you figured out sir that the stress of having thar sufficient amount on the date of standing instruction is real concern.

[@_gauravsharma_]

I agree, except for fully relying on parent's money for emergency.

[@soumsgaming238]

Auto debit kar do tension khatam magar paisa hona chaiye bank main aur expenses tabhi karo jisme aapka repayment karne ka ability hoga

[@harshporwal]

Credit card is next level addiction

[@inamdarmrudula3064]

Yes, I never use credit card. It is dangerous.

[@ramavtar7646]

Sir I have credit card I want close it but how....

[@livingwithswati7699]

I think its a liability why to take credit when u have sufficient money

[@rajnehra]

True

[@abhinav9869]

You are telling totally truth sir. It’s the actual reality People do not say. I own 7 Credit Cards 💳 as of now and Credit limit more than 5 Lakhs each. I feel the tension of managing all 7 Cards. Very Hectic 😌

[@AbhishekSingh-tf8eo]

7 credit cards apko bank ne gun point pe diya tha kya? Khud lete ho aur credit card ko dosh dete ho. Sirf 1 rakho ya wo v mat rakho. Mere pas 6 credit card hai mujhe to aisa nhi lgta

[@AbhishekSingh-tf8eo]

@@RupinderDhamija Frustrations in personal life? Bhai kehna kya chahte ho?

[@abhinav9869]

@@RupinderDhamija Thank You for your guidance. Will follow it Properly. ❤️

[@abhinav9869]

@@AbhishekSingh-tf8eo Your Mental Condition is not stable. You seem to be like going through Mental Disorderedness. You have a negative Personality. Take an appointment of a good Psychiatrist as soon as Possible man. Take Care.

[@train_xc]

Just have best 2. It’s makes life way simpler. I used to have 6. It was hectic. I then cut down to 2. An Amex and a Visa . I use Amex primarily. Use the Visa one when Amex is not accepted

[@hitenpradhan320]

In short - Discipline is the key to use Credit Card. Incase in emergency inspite of breaking your FD's you may use Credit Card. And the one who are using Credit Card i do not think they are using for Points. I have been using since more than years i neva took point into consideration.

[@train_xc]

There’s no point to consider points if you’re not using Amex. The points rewarded in CC sans Amex is very low

[@puchaisen162]

I do use credit card, its not like whatever you are saying is bakwass. I do agree with you. At first you may have to force yourself to pay on time or I will get reward points wala thinking can bring u down.. but once you make it as a habbit, it may take upto 90-100 days, then you will be in a system, u dont need to force yourself to think about reward points and all.. you will do it automatically. like u will spend what is necessary . and u keep an emrgency fund, so that u can pay on time, please correct me if I am wrong .

[@shubhamdixit7909]

I disagree too! Spend what you have in account on Credit Card! Its an emergency

[@debjanilaha8718]

I agree

[@SaurabhSharma2804]

A workaround I have found is to take the credit card against Fixed deposit. That keeps your limit down and there is no way to spend more than you actually have. Using a credit card like this is a lot safer than using a debit card. And people who can't discipline themselves with CC, STOP TRYING! It's not for you.

[@tousifahmed6931]

You must have credit card but firstly you should be matured enough mentally to use it. Use it if only in emergency not to fulfill necessity or use it knowing your income. pay in time. This behaviour will help you to maintain cibil.

[@hellshulk]

Agreed.

[@koustavsarkar6167]

I haven't used any Credit card till now and after seeing your video I have decided not to use the Credit card any time further.

[@manishdhurandhar]

Mujhe toh pahle b nhi lena tha yeh vdo dekh k ab aur believe strong ho gya h ...

[@shantanubose1929]

जब तक मेरे पास क्रेडिट कार्ड नहीं था, तब तक किसी रेस्टोरेंट में खाने में डर लगता था, कि कही खाना 1 रुपए का एक्स्ट्रा तो नही हो जाएगा। पेट्रोल हमेशा कमभरवाता था। अब ऐसी कोई limitation नहीं है। सिर्फ पेमेंट डेट का ध्यान रखना पड़ता है। अनाप शनाप खर्च करने से तो problem होगी ही होगी।।

[@ravidhankhar6700]

Viceroy of Clarity

[@binayakchakraborty8193]

Mere ghar se thoda door ek departmental store hai. Main ne wahan se 10 rupay ka chips credit card pe liya hai. Counter wala banda pareshan ho gaya....

[@venusbhatia]

💙

[@durgasishdash113]

I know from my experience so I have no credit cards sir . Thanks for details .

[@sunil.connect]

I have worked with the private sector and corporates for the last 17 yrs. and never used any of the credit cards... Still I don't think I need one.

[@rajeshnaidu693]

Namaste, I don't use credit card from last 15 years

[@mayurbiotech1657]

Make a video on why one should not keep mediclaim

[@rishabhkumarsoni1351]

It's depend on situation....

[@vishusharma6911]

Also using phonepe, gpay ,paytm etc leads to irrelevant spending

[@tusharaggarwal4707]

Emergency fund is the best option, thanks sir.

[@krishnamohan5820]

Sir please hear once advice of Frank Abagnale

[@mangleshshaha641]

Agreed

[@devangkumar9188]

Credit card is equal to loan. Loan is equal to burden, tention n worries. I am not in favour of credit card n loan. Sibil score increases on the basis of how many times we use creadit card n EMI pay without default.

[@Kiros9999]

Not using by thinking same ,so many tried to convince me . Now listening to u surely i wont use.

[@anantshivam654]

Most people are saying that if you pay on time then there is no problem...My question is that if u have to pay on timr then why the fuck you dont wait and then buy when u have real money.... Some experts are saying its for emergencies but they have no health and life insurance ..500 k cashback aur free movie tickets k liye log itna tension le rahe hain with wierd justification...Aur koi matlab hi nahi hai in sab ka

[@avinashnair8433]

I already have credit card. But after listening to you, I would be very careful about using it.

[@vikashsahu4952]

You should have credit card IF you have much and sufficient Amount in your Debit Card. I have 5 Credit card and enjoying a lot. No problem at all.

[@deepaknayak2]

We must have credit card but must be Life time Free........... for youngster it must be risky but If you are 30 to 35 + you have 4 to 5 credit cards....... But you must not depend on it.....

[@aadishgoel]

i will stop using it, and will have only lifetime free card for lounge access

[@555666praveen]

Mere paas v hai.. Or me is credit card se bhut pareshaan Raha hu

[@vijaymadhugiri3400]

Yes, it is real waste of time and tension.

[@tusharsahu7577]

Dear Sir, I have watches almost every video of all ur channels but this is “1” and only video I disagree with u, I’m using CC for approx last 10 years and saved maybe more than a lakh and never paid ₹1 interest

[@aanganbansal]

I never used credit card in my life.

[@sanketmudgalkar9500]

I will not use Credit card.