Why You SHOULDN'T Use A DEBIT CARD! | Wealth Nation

[@WealthNation]

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[@ocupass2003]

Its not the credit card itself that gets people in trouble its the people who do not know how to manage credit cards.

[@Paparazzionsite]

Absolutely

[@LegacyLewis-gt8ru]

True

[@Paradox3627505]

🤔 Hmm...Sounds similar to problematic gun usage.

[@seven7mac]

Fact

[@taskcasburn6086]

It's stupidly seeing it as an allowance instead of a commodity you have at your disposal, when needed. For many people the only way they learn is to get burned, even then.

[@blackhoney7617]

Debit Card is the way to go I have paid off 5 cards, I am not looking back.

[@jasonmcqueen3848]

Bingo

[@bumblebee4024]

Who said you should charge above what you can pay in full each month?

[@pastryshack551]

Why do you have 5 cards? I have always had one card. I have no debit card. I only use my card as a convience go me. When the bill comes in I pay it in full. People are buying so much junk, it boggles the mind this one lady had about 30 wigs in her room, the amout of hair products they use is staggering, I think no one can help these people. The nail claws on their hands, I really don't know what has happen to my people

[@jenniferdavis2110]

Agreed.. I have no time to be carrying cash & coins.. it does work for me!

[@barrywainwright3391]

You missed the point of this video.

[@mbrower3304]

I'm fine using my debit card. The money comes out right away. My son's debit card number was used illegally, he reported it to his bank, and the money was quickly credited back to his account, with no problem.

[@MayYourGodGoWithYou]

My daughter had the same experience, Mon was returned in two working days. Plus they keep watch and if a transaction seems out of the normal way, different location or much larger amount, they freeze the transaction and contact my daughter or myself. If we say it's okay they let it go through, if we know nothing about it they stop the transaction and pull the card/issue a new card because obviously the card has been cloned somehow. Plus many shops won't accept credit cards because of the bank charges the credit card company charges the shops. It was

[@DeCurtaRican]

I have almost $25,000 in available credit and $600 in credit card debt. My credit score is near 800. I’m good using my debit card. I also like my cash back credit cards, but I’m using my credit cards strategically.

[@whatotherfoodfish7565]

@@DeCurtaRican weird flex but ok

[@AC-ir3od]

@@DeCurtaRican I pay my balance off each month, never paid interest since day one. Making out like a bandit on cash back.

[@James-n3u1o]

How much interest does your checking account pay you each month? The average checking account pays 0.08%, unless you keep a lot of cash in your account, you’re not making much, and even losing money in interest every time you use your debit card. If you had a credit card that pays you interest (at least 1 1/2% on ever purchase) you can make money using your card, just charge what you normally buy with cash and pay the card off each month you have now made money with that card. What’s really nice, if you’re going to purchase a large item, put it on your card, let it pay you the interest on that item, pay card off at the end of the month. Now repeat that all year long, it adds up. The key never use your card for something you can’t pay off at the end of the month. I have been doing this for over twenty years, never paid a fee of any kind. I have CapitalOne, no annual fee, pays 1 1/2% on each purchase.

[@american_woman]

The title was misleading. The takeaway is to use both but with a smart approach and based on the situation.

[@anitasewer1571]

I have to agree.

[@DaveM-FFB]

Great video! Planning is key. #1, have an emergency fund and a budget. #2, list expenses to be paid with your debit card. #3, list expenses to be paid with your credit card. #4, always pay your credit card in full. Never use a credit card to spend in excess of your income.

[@PrettyPennyClub]

For disciplined people who don't have spending problems credit cards come with all sorts of perks. For money you are spending anyway, e.g. food shopping then why not get cashback etc. A credit card is a tool to use, not a solution

[@KamilW257]

Well said!

[@Paparazzionsite]

Absolutely 💯

[@robertcuminale1212]

The operative word there is "discipline".

[@janineclarkson3991]

@@robertcuminale1212for me the operative was ’for money you are spending anyway’ if you are not reward chasing nothing wrong with using a good old debit card low interest sure but also low fees, if you are not using the credit then why pay for it?

[@niteloon6073]

​@@janineclarkson3991Pay for it???? Do you mean credit cards you pay a yearly fee for?? Never had one of those and never will! I only open free credit cards that offer 0% interest for 18 or 21 months on balance transfers and purchases. Been doing this for 10 years, open then before major house hold appliances and property tax is due. Have 21 cards between hubby and me. I get them paid off BEFORE THE 0% deadline ends. Have 3,558.74 spread across Two cards rest have ZERO Balances. I'll have that paid off in 3 1/2 months. I'll buy groceries or gas on them and carry it for 2 months and then pay it off. That way they don't discontinue them on me.

[@deboraballes9044]

They should make mandatory practical economy classes in grade school and high school...make it fun and given real prizes....challenge kids, get them ready for life so as not be taken advantage of by big corporations and banks....school is supposed to prepare you for life.....🧐

[@lisayoung4810]

It used to be that way, but most of the school systems stopped doing that.

[@thespadestable]

@@lisayoung4810 - And even then it was a mess. The only effective way is by teaching it at home, because it can be introduced and reinforced over years, not just a few times in school, then moved on to something else. Stop and think....Just how effective was PE and Sex Education being taught in school?

[@lisayoung4810]

@@thespadestable it can be taught in the home if the parents, guardians, or elders know how, if not, the kids won't know. Physical Education seemed to be very effective for male students or for those students who aspired to get into college or professional sports. Sex education could and was helpful to teach students about their bodies and reproduction. Some parents may not want to teach their children about these topics and some parents may not know what to say or how to say it

[@thespadestable]

@@lisayoung4810 - Spare me. You're a complete government school drone. They indoctrinated you well.

[@anitasewer1571]

Excellent idea!!! Young people many tend to misuse credit/debit cards.

[@dlivengood59]

Biblically, you are to lend and not borrow, be the head and not the tail. Owe no man anything except to love them.

[@nguni1111]

Proverbs 22:7: Just as the rich rule the poor, so the borrower is servant to the lender. Romans 13:8: Owe nothing to anyone-except for your obligation to love one another. If you love your neighbor, you will fulfill the requirements of God’s law.

[@asanabright538]

So if you are to lend not borrow, who is borrowing/is the borrower? Mesh!!

[@AP-uc8rr]

That’s why you pay it off every month and don’t spend more than you can afford on a CC

[@123denuevo]

Everyone ain't no bible thumping believer.😕

[@lulubell3191]

@@123denuevo Robert you don't have to be a Bible thumping believer to appreciate the Bible offers solid principles for every day life! Look at how hard you have to work to pay back money owed to credit card companies. If it's not paid you will be under their control; you'll long to take a vacation but you can't, you'll have e to reduce your grocery bill, when your child needs to go to the doctor and you dont have the money you'll remember, they own you!

[@KarabulutYigit58]

*850 FINANCIAL ASSESSMENT IS THE ONLY CMPANY THATS CERTAIN TO GET YOU DESIRED AND GUARANTEED RESULTS WHEN IT COMES TO THINGS LIKE THIS , I DONT KNOW ABOUT THE REST HERE BUT THESE GUYS ARE COMPLETELY MAGNIFICENT NO BS*

[@thenoble3282]

Wealth is not just about finance, but health and wellness is critical especially in our black community! No need to have stuff and money if you don't have your good health? Rick Ross finally understands this truth now! What does it profit a man/woman to gain the whole world if you don't have optimum health to enjoy it all! Let change the mindset about the diet & wealth in the black community so we can all go up together! Above all things... I wish that you be in good health and prosper even as your soul prospers! God bless you brothers! and remember to use *850 FINANCIAL ASSESSMENT* for your bad credit and negative credit marks and inquiries removal

[@trussbekkah]

If you're planning on buying a house for yourself - NEVER max out your credit cards to use as a down payment. Your new debt will report on your credit and you will not qualify for a loan due to your income to debt ratio being above 40%. You can max out your credit card to get a hard money loan to flip a house but NOT to for your own personal house loan. Learn more and get a quote; *850 FINANCIAL ASSESSMENT*

[@trussbekkah]

If you're planning on buying a house for yourself - NEVER max out your credit cards to use as a down payment. Your new debt will report on your credit and you will not qualify for a loan due to your income to debt ratio being above 40%. You can max out your credit card to get a hard money loan to flip a house but NOT to for your own personal house loan. Learn more and get a quote; *850 FINANCIAL ASSESSMENT*

[@joedejesus6363]

Amen Noble

[@jkkennedy8919]

I like that comment

[@thenoble3282]

@@jkkennedy8919 Thanks

[@Kay.Marie.Wellness]

I worked at a bank and even our branch manager said we shouldn’t use our debit cards lol. You just spend way more money just swiping. More aware when you’re holding on to just $20 for the week.

[@s.g.4823]

@@lightbeingpontifex I think she means if you take out $20.00 in cash from the atm, you may spend that more slowly than using your debit card for purchases.

[@healthlife4537]

Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *Linux tech corps* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

[@doobiedabadgirl9214]

Linux the corps? What's that?

[@randybowling9846]

I like capital one. I i have a $300 and $500 card. Paid Off Credit one 700. Maxed Premier 800 owe 300. Credit One 500. Pajd off. Oh Chase $2000 maxed.

[@coolhnd6]

They only service military right?

[@sebastianmunoz9922]

@@coolhnd6 not exactly U can be related to somebody who serves or even an employee may refer their family.

[@reginapolo3357]

Capital one he.ped me out too

[@ehlisunnetvelcemaatsohbetl5480]

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

[@joanabriggs6636]

Where is info about your course?.

[@EB-ok3io]

This makes sense why I paid my cards off and my score actually went down. Crazy how I worked hard to get my score where it was and dropped 30 points. Thanks for the info ☺️

[@g.t.g1111]

However, the bank give you a 10000 limited. Yet you can only use 30% of your credit. Go over the 30% usages, now you're a at risk.

[@jtorie1]

I made the mistake of getting in CC debt in college 😩 once I paid off what I could, I've been rocking with debit cards ever since and haven't looked back. I've never had any issue having fraudulent charges on my debit card recouped within days, and just make sure to stick to a strict budget while traveling abroad. Also the currency automatically converts with debit cards as well. Thanks for these extra tips!!

[@radiantlibra87]

I just had a fraudulent charge to my debit card and after filing a dispute (form the teller completed for me) at my credit union, just the next week my money was back in my account.

[@enigmathegrayman2953]

@@radiantlibra87 Same for me.

[@universityofwtmp]

@@enigmathegrayman2953 Same here. Both instances were resolved on the spot.

[@wallychambe1587]

@@radiantlibra87 Sometimes it takes 2 to 3 weeks on a dispute on Debit.

[@julianmarshall2127]

​@wallychambe1587 I guess it might be the bank,cause I've had fraud on my debit card and I got back the money within a week..

[@blackezi3]

This video is titled "Why you shouldn't use a Debit card". But instead the video is about Credit Card debt

[@Savannah-ed4rv]

My thought exacty...so many of their videos aren't what I expect..

[@jayjamgold815]

Exactly. They went off the main topic. Damn waste of my time.

[@rodneyjones70]

i understand why the title may have been a little misleading. but basically they were speaking on why the banks do not want you to use your debit card.

[@LadyChelleish]

Click bait 🤭

[@neotheftm]

The point is that a credit card is a better tool because of purchase protection, especially when traveling, rewards points, and the flexibility of financing (you essentially buy time). Ultimately it depends on your own strategy and financial goals. It's a game. You control the parameters. It's only debt if you don't have a plan or the discipline to carry it through. Key #1: Be in control of your budget/spending.

[@gachaabby7445]

When trying to get late payments removed on an active account, if it cannot be verified by the bureaus, do they remove that late payment and show on time payment for that month, show no information available for that month, or delete that account off the credit report? I want to get my late payment history corrected but not sure how disputing with the credit bureaus affects the active account if they cannot verify the information to be accurate, I wouldn't have been able to take them off if not me meeting *Linux Tech Corps*

[@CoachCreesh]

I just started paying many of my monthly bills, gas, groceries and personal items on my credit card. Anything that I must pay or purchase anyway; I use my credit card. I'm older so I have more discipline. I pay it off in full every month. My points don't expire. When I cash out; I use that money to make an extra payment on a credit card that has a balance 😜

[@simplesuccess5159]

This is a helpful strategy for those who only get paid once a month as well. However to your point @laromitchell you have to be disciplined.

[@CoachCreesh]

@@simplesuccess5159 When I was contracted and was only paid once a month, I wasn't comfortable enough to do this. One delay or a mistake on my check would've had me in trouble. But, many places pay rent on the computer. Why not grab 1100 points then click on your credit card app and immediately pay it back? That's a free $11 just for paying your rent that you're going to pay anyway. But, to eaches own 🤷🏾‍♀️

[@da5449]

I pay more each month on my car payment....

[@jccanteen]

I think this is the best way to leverage credit. It absolutely does take self-discipline and impulse control to not ball out beyond your income and to use a budget. But I definitely NEVER use my debit cards for purchases. Works for me.

[@robertcuminale1212]

I'm doing the same thing. See my post made today 4/26/ I'm making thousands of dollars every year and paying no interest and I only write one check a month.

[@trob9100]

Be careful with fees for some cc purchases. For example, paying rent with a cc could have a $30 fee vs $2 fee using debit card.

[@paige3691]

You can't pay rent with a credit card

[@mrwallstreet1]

That is no longer true. At least not in New York City, you can definitely pay rent with a credit card

[@TheBigpoppa54]

"A PLAN with no discipline is a FAILURE".................Nuff said.

[@RKade22]

Best financial advice is use cash always unless there is no other choice..u cant overspend if u don't have it..if u manage money good it doesnt matter what method u use you'll be responsible with it..why deal with banks at all unless u have to..dont play the game at all cause its rigged anytime tour dealing with greedy banking cartels

[@lazapololapolo9824]

@R Kade....I agree. I stopped using credit cards years ago and I never have debt because I only purchase something when I have the money. I only use a debit card when I have to buy online or when I travel and don't want to carry a large bundle of cash. The company I have my debit card with does protect against fraud. I don't like being concerned about "paying for things later." I'm not interested in bank rewards...!!!! LOL

[@cutesybunny3360]

😊👍🙏✝️❤️

[@TWLogik]

The only problem w only paying cash is only good if you don't ever plan on making a major purchase like a house. Bcse with no credit history there will be a problem unless your paying cash. You need to have at least one card.

[@wecountingmoneyoverhere2517]

@@TWLogik if you can't pay cash you can't afford the sh_t!

[@RKade22]

@@TWLogik yea it sounds crazy now days but what better idea then save your money until u can buy some land , build your dream home, put up your own solar panels, have tour own well and live good all for half of what it takes to buy a house on a 20th of an acre in a neighborhood with an association that tells u what u can and cant do in the "house" u "own" ...yea it might take 20 yrs but aren't most mortgages for 20 30 years?

[@mjsgambati]

The title of this video is extremely confusing

[@HollowayIP]

You so right! I came here for one thing and ended up learning the opposite. My head is spinning. BUT, I am thankful for their message here. I just had my debit card number changed due to one fraudulent withdrawal. The lady at the bank highly recommended a credit card which I agreed to. Now I totally see what they are saying in this report. By the way, changing my card number by chance revealed the fact that I had been paying a monthly fee to be an Amazon Prime member. I didn't even know I WAS an Amazon Prime member. How did they manage that?

[@Bz7161]

I blame banks all the time case when they lose everything they get a government bailout

[@gloriaturner9111]

Who holds the bank accountable for not bailing their customers out when they get bailed out? Please !

[@robertcuminale1212]

Sound advice. I have never paid interest on a credit card. I pay it off every month. I have my American Express which I use for everything possible. Water, electric and cable, purchases. Car insurance, home insurance, newspaper and groceries. I rack up thousands of dollars a year in reward dollars which I use once a year applied to my balance. The money used to pay the card off every month is in a money market account which draws interest. Using the credit card is like getting a free loan while drawing interest on the money market. I have no debit card. I don't pay cash for anything and using a debit card is like paying cash. I once bought a new car on my credit card. I had the money saved up and paid the card off as usual and got reward dollars on $26,000. When I had my business I spent $10,000 a month I charged and got points on that too. I have one other credit card from Costco that I use for those merchants who won't take American Express. That one is paid off monthly as well and I get reward dollars on that one too. It takes some effort to get to this point. When I was younger I had so many expenses. A mortgage, child care. It just gets easier as you pay off necessities and reach a point where you can do what I can do now. Sometimes I just didn't buy things so I could keep my obligations down. You don't exist to make other people rich. You take care of yourself first and always.

[@frankdalla]

Everything costs something. The Convienience of using my debit card, for me, is worth the cost. A few dollars one way or the other isnt going to make any difference. Somehow, someway, someone will figure out a way to keep me poor. Thats just the way it is.

[@Juandraym1]

Ok I listened 17 minutes and still didn't hear the specific DETRIMENT of using the debit card. WTF?

[@sophierobinson2738]

It's a great big advertisement. If you look at the comments, most are pretty fishy, and mention how much "creditbackdoors" helped them. If you pay you bills on time and don't overdo credit card use, you're fine.

[@soldiermike6ft259]

I have 8 credit cards. Zero balance on ALL of them. I have $40K in available credit. I know it's relatively low compared to other people. That said, I STILL use my debit card on most of my local purchases. I don't care about all of that "rewards" stuff because to me all it does is entice people to buy stuff you don't need - just for the sake of accumulating points.

[@lazapololapolo9824]

@SoldierMike6ft2....EXACTLY...!!! I prefer the debit card as well.

[@soldiermike6ft259]

@@lazapololapolo9824 Yep! It's HARD to get out from under a bunch of CC debt. But once you do - if you're smart - you NEVER want to go back to THAT again!

[@lazapololapolo9824]

@@soldiermike6ft259 EXACTLY...!!!! With a debit card I can only purchase what I can "actually" afford. That CC debt (or any debt) is a weight on your shoulders. I stay away from it.

[@robertcuminale1212]

Only an undisciplined person spends more than he can afford. He doesn't let a credit card "entice" him to spend money he doesn't have. Set a limit on what you will spend and don't go over it. A credit card represents real money. Don't spend more than you can afford. Make money on your money. I was born to a single 16 year old girl. I had seven siblings by the time I was 14. We were poor and living in a three room apartment in Brooklyn. We were even poorer when my father would be committed to the mental hospital. Welfare was not generous like it is now. I made nickels and dimes doing chores for old people. I dropped out of school when I was 16. That was after I got out of the county reformatory.I worked in sheet metal and tool and die shops cleaning up. I worked the grill at Royal Castle in Miami. I worked in a Pizzeria and sub joint. At 18 I joined the Navy for four years. I was married at 21. We were overseas and my wife worked for 1/3 of what she could make in the US.Still we paid off all her college debt. We had a child when I was 26. We bought our first house. It was a remodeled 80 year old house that had burned on a dirt road but we weren't paying rent. I got laid off from AT&T in 1985 thanks to the US Government. I started a business and lasted 32 years until I retired. We were now living in North Carolina. We went to the beach one summer and saw lots of houses for sale. The beach was eroding and people thought they were going to fall into the ocean. I bet that the town would pay for beach re-nourishment and I was right. I bought two of them no money down for for $500,000. I fixed them up and the realty company increased the number of rentals. I paid them off in 15 years using the rental income plus I made them more attractive. Because I made no money on them I didn't owe income taxes. I could write off the expenses. I was offered $1.3 million for one of them. I sold it and kept the other one to rent and use. We retired with no debts. We live only on our Social Security checks and don't touch our other We paid all our son's college debt, bought him a car and gave him a $15,000 CD as a graduation gift. He's now a successful civil engineer in Washington DC. How did we do all this? DISCIPLINE! We didn't spend what we didn't have. We made sure we could cover any debts if business was slow. Except or the three mortgages no bank made money on us. We made money on them. When I read someone saying he wont have a credit card because it would "entice" him to spend more just to get points I pity him. I pity him because he won't discipline himself to live within his means. He never tries to improve his circumstances. That is so sad. money. Discipline.

[@soldiermike6ft259]

@@robertcuminale1212 Wow, wow, and WOW! GREAT points, Robert! WELL SAID!!

[@charlesclark667]

Help me to understand, we shouldn't use the debt card because the bank say so, and banks have to pay for processing, but credit cards is the banks bread and butter. So continue to use your debt card, and have a plan to use the credit card, is what I'm getting. If I'm correct then, thanks for all you'll guys hard work and information.

[@JMFord-eo2pk]

I'm confused as well. I think what you said is what I understood from the video, but I'm not really sure. I think the information is good, but the presentation is hard to follow.

[@nabill278]

There is a lot of advantage in using a CC. The key is to be very disciplined, wise, smart about your expenses and make sure to pay it off each time to avoid any interest. As someone who used to work in the fraud department of a well-known bank I only use my debit card in 2 situations: When I go inside the bank and when I use an ATM machine because I don't have the choice. Elsewhere I use cash, CC or have my bank send a check to my creditors. Without being to long here and getting into a lot of detail simply put I would say when fraud happens via your dB card it's your direct own money in your account that is affected and gone. When the same thing happens via your CC it's the CC company's money that is directly affected. Your hard earned money is still sitting safe in your account. Very good content.

[@freshurb8963]

If you can be disciplined with your CC, get one with Cash back rewards, and pay it of in FULL every single month. If you can't do this, DON'T GET OR USE A CC EVER

[@Paparazzionsite]

Yup! In that order, but every now and then leave a small $10-$20 balance to boost your utilization usuage and credit scores.

[@mspatriciagrayson6801]

@@Paparazzionsite right

[@redscorpion9325]

I use my Credit Card just to build Credit but no way I’m going to stop using Debit Card,I hate to owe money plus I use Debit more now because I don’t like to deal with Cash since Covid plus it’s easier to keep track of money and how much I spend

[@trinity_282]

​@@Paparazzionsite only if it still avoids you from paying any interest for that month or its a big NO🙅‍♀️ leaving any balance just to be charged💸 for it🤦‍♀️ later

[@theresaandrade5708]

Sounds good but debit is better than a ✔️ ng account and a credit card will get you in trouble because it is instant debt. I do have protection when I use a debit and a prepaid card.

[@scottphipps2278]

Yes man these people giving out false information.

[@tiberiajames5997]

You will only have a negative account if you don't pay your bills on time.

[@simplesuccess5159]

I am often amused at what Banks market. For example the laws that govern Credit cards fall under federal reserve regulation Z. The laws that govern Debit cards fall under federal reserve regulation E. Both of them cover you for several types of fraud when you do your part to report it quickly. You also have several different dispute rights for when errors occur like a double billing. I find it amusing that banks advertise that they are providing you with this protection when they are actually required to do so by federal reserve laws.

[@josephinebournes8212]

Thanks for the info

[@nadiasharnelle]

Wow, TY for that extra insight!

[@mwaynem]

My brother has a business where he needs to spend a lot of money each month. He uses a credit card with a reward plan. They pay it off every month, and he builds up a substantial amount of points from his business. The key is that he pays his balance off every month.

[@emmabbyreborns341]

Hmmm... I'm confused by the title: Don't use your debit card. Content: Don't use your credit card.

[@bamjohnson8037]

they need to be alil more clear hope they are seeing these msgs. ur confusing people with good and bad info.

[@willb5571]

it's all good and you thought it through 😉😏☮️ for yourself...🤔

[@BIGJ-kb3vc]

What I do is when I plan on making a large purchase, and have the cash on hand is put purchase on the card. Then I pay it right back so I can get points. I also have cards where the points don’t expire right away. I did that when I had to furnish my new home.

[@jarambeelittle9324]

Sorry but that statement about the bank not protecting debit card is not turly correct. I've not used a credit card for over 20 years. I've travel extensively during this time. When an issue occurred with wrong charges the bank has alway refunded the money back to money back to my debit card account.

[@blackfeatherstill348]

Me too Every time

[@sandrajohnson8227]

Me 3 pretty.

[@johnvick2257]

Rescission and a Security Freeze are great tools to use, because it puts you in control of your privacy. Corporate control = involuntary servitude. I love this video!...Know your rights, exercise your rights and exercise them often. People only need to listen and learn. Actors use pseudonyms and get away with it, if we shorten our names they are called aliases. Via certified mail, i sent requests for a security freeze to 8 credit bureaus, I also opted out of 25 sites that store and sell my private info, like whitepages, spokeo etc. These corporations actually make us sitting ducks for identity theft, stalking and narcissistic abuse, and they do it for profit. Consult *Linuxtechcorps🟡org* to get rid of negative items on your reports nd also raise your credit score

[@srmmak4255]

I love u guys as a Team aka BLACK LOVE, KEEP IT UP

[@Callmeback28]

I can't believe I just watched the whole video. Usually I'm a skipper. My goal is to retire at the age of 35. I'm not going to work for 50 years just to retire with less then I made. If that's the case I might as well retire right now. If I'm going to retire with a $1,000 or $900 and I'm making $2,000 a month. Why do I need a job when I can do side hustles make $1000 or $900 dollars. A month. I can live comfortable with $3,000 a month

[@quaithom3138]

sounds like a dream. Let's see if you can actually do it. Retire at age 35 ? Who will paying for your health insurance coverage until you reach Medicare? What if your side hustles dry up?

[@lightbeingpontifex]

What side Hussle,,,

[@susanlocke5547]

I've used my debit card twice, and both times someone was able to get a hold of the number and cleared out my checking account with a few trips to Walmart. Fortunately, my bank was quick to alert me, and replaced my funds within 24 hours. I only use credit cards now.

[@quaithom3138]

I've been using my Debit Card for 15 plus years. Never had not one problem.

[@d.b.israel3214]

Maybe you should look at who has access to your personal money business.

[@hmm6415]

Keep the money in your savings. Stop having money readily available in your checking acc. Only transfer what you need when you need it.

[@mochaCF61]

Great information. So glad I stopped using credit cards over a decade ago.

[@kittomeow8339]

I stumbled across your video and instantly knew this was made for me. I'm going through the same thing with my business but just knowing that I'm not the only one who's experienced this just pushes me to go harder. Continue to put out informational content and sharing your story, THAT is what separates you from the rest. Much gratitude Monique and *850 financial assessment* was so helpful during the process of boosting my credit

[@margaretbrookins2712]

Could you please tell me. About opening up a account with the credit union that's a better account I think it is

[@lenacummings1313]

As someone who used to use debit cards, i had identity theft. Pay cash, or pay your card off each month. No one is being educated on how to discipline yourself to not pay interest. No cards who have annual fees. No cards that charge interest based on the market. You need a fixed rate card. There is so much we want, but dont need. Learn to be happy with less. Pay off your house. Your interest deduction on your taxes is almost nonexistent. Living debt free is the best way. It will take time to adjust. Do better this year, next year do better still. God bless

[@ramonalee2368]

Amen. I've been debt free and hate I got caught up again. Trying to do better this year!

[@KathyCouserJoyM]

@@ramonalee2368 "Debt Free" is sure the right way to go. And it's God's Way, I've lived in Christ Jesus debt free for many years, and God has been faithfully the greatest Provider of all my needs. "According to his riches in heaven, Yes He has been better to me, as He's spoken into my heart, " than ten Husbands could be! " And I've Believed Him! It's better to be "Content with such things as The Lord gives you and "Stress Free" So Take God's advice... Take no thought what you shall "eat, drink" or Wear "God takes care of the Birds of the air... and clothes the flowers in the field.... If you trust in Him.... and believe in His Son, HE will take care of you. St. Matt. 6:31-34.

[@KathyCouserJoyM]

@@ramonalee2368 "Debt Free" is sure the right way to go. And it's God's Way, I've lived in Christ Jesus debt free for many years, and God has been faithfully the greatest Provider of all my needs. "According to his riches in heaven, Yes He has been better to me, as He's spoken into my heart, " than ten Husbands could be! " And I've Believed Him! It's better to be "Content with such things as The Lord gives you and "Stress Free" So Take God's advice... Take no thought what you shall "eat, drink" or Wear "God takes care of the Birds of the air... and clothes the flowers in the field.... If you trust in Him.... and believe in His Son, HE will take care of you. St. Matt. 6:31-34.

[@jamescopps9865]

It was my understanding that the new business model does not prefer loyal workers that intend on staying put in their jobs. The new model is the "revolving door" of hiring new employees, using them while they are eager, then getting rid of them before it comes time for their raise. I don't see why any worker would tolerate that business model and there is backlash to that business model. No one cares about their jobs or the consequences of doing subpar work. Why should they? There is no future for them. Plan your future settling up your Rot IRA and getting funds sent to it through *Linuxtechcorps🟡org*

[@frannybkranny8760]

My credit card company wouldn't give me a lower interest rate or an increase in my credit because I ALWAYS pay my debt in full. So since they can't make money on me via interest, I "don't qualify" for a credit increase or lower interest. Lol!!!

[@callieduval3000]

Sorry everyone I have no credit cards You don't need credit cards it's a hustle I learned the hard way. No car payment just a student loan in good standing that's it credit score 774! Without even trying just stopped getting in debt. Drive my same car for 7 years still running good. Mindset is to get out of debt you can buy outright what you want that's what I do and working down that student loan too. I'll be debit free soon

[@rayj.9568]

@Callie, Good job. Much success to you.

[@kelvinbrooks9588]

I am not sure what you are saying. Should I use my debit card or not?

[@carlrichardson4924]

Using over 30% of your credit limit will cause your credit score to go down. Using less than 30% of your credit limit will build credit. Theses guys r too talkative and not hitting the rights points

[@kelvinbrooks9588]

@@carlrichardson4924 exactly.

[@godc1109]

@@carlrichardson4924 lol, I always go to comment section 1st. 💯

[@clarkclarke]

If you don't need have a cc should you be getting one???...debit cards d does not have an annual fee while cc does ....I have such limited funds don't know I need a cc card. ...😖

[@inesmeneses8570]

Not to use the credit card,

[@willhustle25]

I use a debit card for two reasons: A) Pay monthly bills B) For small purchases. If you have credit cards it's smart to make very small transactions on them and pay the balance before the due date so you don't get hit w/interest charges. Another thing w/CC... DON'T increase your credit limit more than can afford to pay as in some cases this is a debt trap to keep you spending more money.

[@brendacurry3943]

Use your debit card as a credit card. I never use my pin when I use it . I just use it as a credit card

[@mmane257]

just retired in december 2021.with the advice of my daughter in law i got the wife and i Amex cards to use and payoff at the end of the month.i now subscribe to your channel.

[@BRamYT5150]

You guys are inspirational black excellence

[@googleuser2426]

I love how the 2 of you communicate with one another!!! Awesome video and very informative!!

[@olivertaylor4779]

That protection part of credit cards only works on purchases over £100 (in the UK, that's what the adverts say anyway), credit cards work great the way you talk about but only if you pay them all off every month. I bet most people use a credit card to pay for things they can't pay for in one go, so they are handing money to the bank via interest payments. Great video.

[@leslierahamut9572]

As a former Bamk employee, I have to say this is excellent information and advice. Just don't rack up more than you can pay back from your monthly income.

[@blkcatzette]

Love you people. Just got some more insight. Ya'll unforced my things I'm already doing. Love seeing like minded people. Thank You.

[@blkcatzette]

Edit : Reinforce. Again thank you both for making me know that I'm on the right track. And giving helpful tips to continue on the journey. One Love !!!

[@barendfourie6687]

I enjoyed your video. It took me 20 yrs to pay off my credit cards and now suddenly I have money in savings. I have been fortunate to build up what I call my stash for tough times and emergencies equal to one full pay check. I am now working on a 6 month lock down fund but it's tough.

[@jinnylinn9542]

It seems like a Debit is your best bet than falling in debt and being charged all those fees.

[@alanai1981]

Not if you use the sweep method

[@MrGlenn7710]

Amen!

[@lawrenceturner7695]

You are right, for many people who are using credit, interest rates are low for people with good credit, but their investment, and savings are taking a hit. Only one making money is the rich, who are buying back their stock at low prices, and using the profit around their worldly investment, to make a killing. These people, though good advise short term, need to get out of this ponzu scheme before the next inflation/recession hit. Peace✝️🌅

[@honeylove0428]

Your videos are so inspirational. My debt started at 18, which was a while ago. And it was acquired through college loans. This debt never goes away until it’s PAID in FULL + Interest, other debt will fall off after 7+ years, but Not student loans. This video is life.

[@andrewaugh5647]

Hey I'm curious regarding college debt. Did you try FASFA?

[@veronicaroybalroybal5617]

I paid off my credit card every month. They did not like that my card got cancelled. Cause i did not use it very often.

[@momforone7946]

They cancel for lack of activity not for paying off. You can't go months w/o using it any more.

[@audrealambert9583]

At 55 I'm just beginning my credit journey so I thank God for bringing me this video and you kind folks.Thank you for sharing your knowledge 💰💲💵👍💯🗽

[@islandgal500]

I started my financial journey at age 16 when I already knew what I wanted out of life. In my 70s now and my plans worked. Just know the difference between need and want and make sound decisions.

[@pamelabrigham5605]

LETZ ROLL. Too many people yadda yadda yadda Too much n no one has the time to hear but what they've tuned into hear" specifically

[@deborahlooney9602]

Interesting. Enough I have had mishaps with My debit card Losing it a few times, in which Who.ever found it used and spend my money However the card was canceled and I received my money no problems, it seems Your conversation is more related to benefit of good credit score with the advantage of using a credit card in which the banks attained benefits more of your money, than the use of a debit card

[@bh9262]

You two project such a welcoming energy!

[@Tiki12t4]

I used my credit/debt card. The credit option all the time, unfortunately the retailers have up to 30 days to withdraw money from your account for purchased items . Some stores like Walmart will take the money out of your account immediately, because it issues retailers that, the money for purchased items are in your account, but then the walmart /retailer will return the money to your account only to withdraws it again, once your items has been shipped. My account was always in flux. I never knew my true balance. Now I use my debit card. Using a credit requires much discipline, because using the card can become a habitual, from soup to skyscrapers even a Villa in Paris. You might need credit counseling and a Mental Health Therapist. 🤣🤔

[@coffeetablemedia1704]

You two are a powerhouse ..Thank you 🗣️🔊🦾🏆

[@scottphipps2278]

Look pay cash the only person who wins with a credit card is the credit card company !!!!

[@timsteinkamp2245]

An older friend, business associate gave me a copy of "The Richest Man In Babylon" available on the net I believe. Printed almost 100 years ago. Changed the way I look at money. It makes you focus on building your investment account. Thanks for the video. What is really a shame is the reverse mortgage available only to 62 + years old. More discrimination from our government.

[@fbnprz8088]

I don't use banks very minimal... I switched to A Credit Union. I also save to pay Cash . Sacrifices I feel at the end is a real good feel. Some time a better deal. Also my credit card is a maximum of 500. Just for emergency from the credit Union.

[@gericochran7196]

It took me 45 years 1 bankruptcy and 2 ccc’s to be able to pay all each month. Those things happened 11 years,14 yrs and 40 years ago.

[@NuLiForm]

"Banks are Not your friends"..i forget who said this, but..when i first read it it made me laugh because i had been saying it myself, for many years...it's True...this i know, first hand...my whole family & Many others i know all around, have a few horror stories to share about their bank dealings...

[@ms.5779]

Thumbnail said "don't use debit card" but talk is about not to use credit card. It confusing

[@kamu747]

Conventional wisdom says don't use credit cards, debts cost you more in the long run. Live free. So when someone says don't use a debit card, it's confusing, and more likely than not they will click on the video to find out why. It's click bait.

[@ms.5779]

@@kamu747 yes

[@godc1109]

@@kamu747 I figured it was. Why now I just read comments before clicking the vid

[@dmvbay2535]

Darrius and Carmen are intelligent and on point. What is Carmen's educational background? I love her approach and presentation of the materials.

[@belenvelez7028]

You are absolutely right. Recently I m diagnosed of diabetes , my doctor said he can’t prescribe Metformin for my kidney is weak so i bought a bottle for $49 diabetes support pills so I’m still going and the merchants charged 8 bottles more and my. My bank paid, twice charges on the same day ,almost $400 hundred of drugs that. It’s NOT working. When I dispute it the bank said it’s verified that I purchased it. The money was returned big hassle & not right away. Next time NO DEBIT CARD. Otot

[@leahcuervo3188]

Lovely couple, good of you to help people.

[@musicapp2043]

Thank you for the video! I have had a passion for credit repair for a long time and I’ve helped a couple of people. I’ve even thought about starting my own business. Listening to you and seeing your passion has lit a 🔥 in me and learning from and using *Linux Tech Corps* . I have watched this video a few times just as motivation. I call it my “Victory Lap” video because you are spreading Nips message by following it! Thank you and keep pushing! Proud of you!

[@bcraigphelps2649]

I use a debit card, I've never had a problem getting my account credited after fraudulent transactions have occurred.

[@robertnegron9706]

I used my debit card in China a few years ago. The atm machine swallowed my card but the receipt showed that money was withdrawn but I didn’t get Any money. The next day I went to the bank with the ATM machine in front of. The bank employee opened up the ATM machine and removed dozens of cards that were swallowed up like ,mine. Long story short, they retrieved my card from the atm. Back home in the USA ., my bank did an investigation with that Chinese bank. Result was they couldn’t come to a conclusion and I was out of the money they stole in China.

[@bcraigphelps2649]

@@robertnegron9706 I had the same thing happen to me in the Philippines last year. Fortunately I got it back from the bank employee, and I made the withdrawal with her assistance. Thanks for your input.

[@robertnegron9706]

@@bcraigphelps2649 your welcome.

[@agracefuldesign8439]

By the way My husband and I love your content! We are learning so much! Thank you for your transparency!

[@deborahzenquis4666]

Thank you for sharing. For the lack of knowledge we get deeper in debt.

[@Chanelli209]

Thank you for this video. I recently made a transaction with my debit card that would have earned points with my credit card. I cancelled the transaction to earn rewards because my utilization has been below 10% the last few months. I try to use credit cards to benefit me without going into debt. Keep the videos coming! I'm interested to see what I can learn.

[@nisanuryaldz7718]

VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *850 FINANCIAL ASSESSMENT* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

[@DanWalterTradeview]

I learned from an FBI agent to use Debit only at the bank ATM. Use a CC everywhere else, just pay it off every month!

[@sotaehyung1132]

You need to use credit card for building some credit score..I used to think just used 90% of debit card to be safe and my credit score never budge until I started using cc, and in a little over a yr it shoot up. So you do need to used cc for history but just don't abuse it, use it like if you use your debit card.

[@tonym4184]

You just make me cry, I'm loosing money. Thank you

[@patriciamauceri549]

I thought your title was advocating why you "SHOULDN'T use a DEBIT Card"??? But your content seems to be encouraging people that you SHOULD use your DEBIT Card rather than using a CREDIT CARD. Confusing title....??? Seems you are saying to USE your Debt Card instead of Credit Card if your'e not a disciplined credit card user. Maybe Title should be: WHY YOU SHOULD USE YOUR DEBIT CARD? Just saying!

[@pamelabrigham5605]

SPOT ON

[@millicentowens3435]

Yeah I was like did I read it wrong

[@melissawalker4163]

Wrong title

[@willarcher2356]

I know right? Duh!

[@diananuuelua8303]

Dude get it together.

[@funnyvidioofxzerstheman7726]

Preach Bruh! So happy I came across your video! During the pandemic I wanted to rebuild my credit so bad and have a new life by the end of this year that would benefit me , my family and my business I opened during the pandemic! I paid someone over $1000 to rebuild my credit and they started the process but ghosted me! I started doing my own research and Linux Tech Corps popped up on KZbin ! I’m now building my own credit back up and I have 3 medical collection’s account to take care of and thanks to you , I know I can handle those! *850 financial assessment* were so useful and You’re such a blessing!

[@saed-sq1kw]

Very informative video, thank you for sharing this information!!!

[@renkitjenkit]

I love you guys. God bless you with His Abrahamic Blessing Deuteronomy 28... 1-14 xx

[@kristathompson2060]

When you don't have a credit card, use your debit card

[@チキンナゲット-v5g]

I'm 18 in Britain and I kno not to never get a credit card

[@gloriajackson5827]

I'm not knocking your information, I did not have a problem getting my funds returned to my account in a timely fashion. I hope I'm not speaking too soon. I L❤V my bank...and I L❤V both. Thx for your info. Yeah that "Urgency" uh no. 👍😄 Looking forward to your next video. 👍❤💜❤

[@stwilliams3439]

Sounds like the name of the video should be "Why You SHOULDN'T Use A CREDIT CARD!"

[@KayDejaVu]

Nope. The method works. If one already has a card and uses it for trips, car rental , larger items, one can use than same card instead of a debit card to help you get out of debt faster. Obviously if you have zero debt, don't use the card. Not every channel explains this properly. They are not telling to spend like there's no tomorrow.

[@heatherheadley1704]

Correct

[@brucewayne5218]

I believe you’re right

[@robbygirl2019]

You’re right! I was somewhat confused. 🤔

[@kimgordon3695]

This is the Global CRISIS

[@sweatygamergainz870]

Thanks for pointing out the caveats. It does take a lot of discipline and organization if you’re gonna start using credit cards.

[@lg7728]

I never owned a debit card and I have owned credit cards from Pentagon FCU since 1973, and Navy FCU, 2010. I don't carry a balance.

[@claudiap9621]

Don't get it one minute they're saying debit and next minute credit card so which do they say is better to use ?

[@eastcoastwatch672]

I just run all my bills through my credit card to get the points and pay it in full every month! I have gotten thousands of dollars in points, great deal !

[@TheWilders]

I have been working on some of the things you mentioned in this video. As a business owner in the financial industry, I am always looking for additional education to help not just myself, but my clients as well. Becoming my own bank is on the Goals list for sure.

[@randallknapp7528]

I have used my debit card since 1986 and I love it, will always use it.

[@davinbartell8841]

Really a tremendous teaching; I really appreciate it!

[@hidemax1199]

So happy I came across your video! During the pandemic I wanted to rebuild my credit so bad and have a new life by the end of this year that would benefit me , my family and my business I opened during the pandemic! I paid someone over $1000 to rebuild my credit and they started the process but ghosted me! I started doing my own research and Linux Tech Corps popped up on KZbin ! I’m now building my own credit back up and I have 3 medical collection’s account to take care of and thanks to you , I know I can handle those! *Credit Backdoors* were so useful and You’re such a blessing!

[@buttacp]

In americas it's about credit and debt

[@pamelabrigham5605]

Right 👍🌈 not in certain and RIGHT TIGHT CIRCLES ☺️ TAKE HEART THERE'S STILL HOPE DEPENDANT ON WHOM WE SERVE

[@prissybaby5256]

I was part of an experimental program in jr. high where we had classes that taught us about understanding taxes, how credit worked, how to manage bank accounts and investing, and even things like interacting with the local government and contacting our representatives. Sadly, for whatever reason, the experiment ended after a few years and was never integrated into the normal curriculum. I had things on my criminal record that I was never convicted of yet they were there. How embarrassing? With the help and expertise of *Linuxtechcorps🟢org* I had them cleared off my record in no time, they’re the best I recommend.

[@happy2bnappy575]

This was so helpful. I got a credit card for an airlines, and because I did not use it, They canceled the card.I felt like they were rushing me to book a flight.