Tech
Why You Should Buy Everything With Credit Cards
Having multiple credit cards and playing the rewards game can save you hundreds of dollars each year. It can land you some substantial sign-up bonuses like the Capital One Venture Rewards credit card’s 75,000 miles or Chase Ink Business Unlimited’s $900 cash back. Americans own four cards on average but not being able to pay off the balance in full every month can be damaging to your credit score and wallet. American credit card balances reached $986 billion in the last quarter of 2022, according to the Federal Reserve Bank of New York. Those contributing to that debt should not be using credit cards because the interest rates they’re paying outweigh the card rewards. However those who use credit cards responsibly and don’t have balances, typically save $300 to $400 each year. How much money you save using credit cards depends on your lifestyle and how you play the game.
Chapters:
0:00 — Introduction
0:55 — How credit cards work
04:01 — Rewards
07:51 — Using responsibly
Produced by: Emily Lorsch
Edited by: Jacob Harrell
Senior Managing Producer: Tala Hadavi
Graphics by: Jason Reginato; Alex Wood; Christina Locopo
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Why You Should Buy Everything With Credit Cards
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@anhnguyenhong8770
December 19, 2023 at 11:25 pm
Ca si Binz died ROI. Vy noi 7 ngoai ngu died ROI.
@plamenkirev7682
December 19, 2023 at 11:25 pm
American system is quite different to South Africa. I built my credit with debit.
At age 20 when I started working, I got a credit card with FNB in addition to my debit card/savings and changed my banking & credit score quickly.
I get my salary into my current account & transfer my whole monthly expenses plus living out etc into my credit card. Transfer savings over to my savings account for interest then leave a small amount in my debit card.
All my purchases including groceries, petrol etc is on my credit card and I don't spend more than what I put in so my full credit is always there for a rainy day.
My credit score has been in the 700's since and I've bought cars & my house without my credit ever going below 700.
@This_is_it2024
December 19, 2023 at 11:25 pm
Said the country in trillions of dollars in credit card debt. No thank you I do not have credit cards I do not need credit scores. I buys my things by saving and cash.
@briangibson365
December 19, 2023 at 11:25 pm
DONT FALL FOR THE BS CASH IS KEY
@casualintrovert207
December 19, 2023 at 11:25 pm
There is literally nothing wrong with credit cards, you just have to use your credit card ONLY like you would a debit card. If you can do that, and pay every purchase off the minute it shows up on your statement, you will never have to worry about interest, EVER, and your credit score will be EASILY high. You just have to remember, but that's easy because we all have phones that can help us remember.
@anhnguyenhong8770
December 19, 2023 at 11:25 pm
Co mot khoan loi nhuan so sach 500 trieu usd, toi dang doi nhan credit cards ngay de chot loi. Aliens gov. Ngay.
@anhnguyenhong8770
December 19, 2023 at 11:25 pm
Hanoi de sau: 10 nguoi phe My dang dau 11 nguoi phe Russia, China. Mien Nam nhu vay da xong.
@TheGreyman61
December 19, 2023 at 11:25 pm
Unless you're paying off your card at the end of the month, fine. Otherwise you're looking at 20-30% interest on a monthly balance.
Sure if you make large purchases frequently and/or travel extensively the cash back cards would probably be favorable.
But if your spending maybe $100 and paying it off at the end of each month a 1.5% cashback card isn't impressive.
@financialfraternity
December 19, 2023 at 11:25 pm
any form of debt is a double edged sword. it can be great if used correctly
@anhnguyenhong8770
December 19, 2023 at 11:25 pm
China co nhieu phe. Xi chet roi the thay. Xong.
@muddasirmohammed7653
December 19, 2023 at 11:25 pm
How the credit card companies make money… thru high interest rates they charge… everyone can be like hey I pay it in full and you might as well be but think about it… if people are paying their debt off in time how can they still be in business… well because the probability is stacked against the consumers… consumers are more likely not to pay in time… further they give you travel points etc which is not real money and it encourages you to travel… and when you travel u spend more from uber to food and greater chance that you will accumulate more debt… no point… its like casino in the end house wins… in my opinion just get a debit card or just pay cash…
@user-ey3cy2kl1d
December 19, 2023 at 11:25 pm
It look really great got fleek dumps card frm
WHITEDUMPS your straight words speak you're truly legend about this thing. Appreciate your good work realest one
@Fj8282haha
December 19, 2023 at 11:25 pm
Built in advertising for credit card companies
@mikezaid3219
December 19, 2023 at 11:25 pm
Charge it! Charge it! & Charge it!
@anhnguyenhong8770
December 19, 2023 at 11:25 pm
Khong phai girl do. Girl do cua earth. Thui. Thui.
@aaronalquiza9680
December 19, 2023 at 11:25 pm
I have a credit card to be used only for gas. No annual fee.
For every litre of gas I put, I get 7 cents back. Before COVID i used to get almost $15/mo. Nowadays I get back around $7/mo due to much less driving.
@renatoys2039
December 19, 2023 at 11:25 pm
Are you kidding ?
@anhnguyenhong8770
December 19, 2023 at 11:25 pm
Aliens ngay.
@anhnguyenhong8770
December 19, 2023 at 11:25 pm
Khi Russia noi de Hanoi cho tui no. Nhuong no. The.
@jondavis2206
December 19, 2023 at 11:25 pm
It’s an excellent idea, that way the government can go back at your spending history and see every cent you spend. That’s even better than having your wife watch you spend every cent.
@BrandonMinguez
December 19, 2023 at 11:25 pm
I update a note on my phone every quarter with the newest cash back percentages for the cards that have rotating categories. That way I can keep track of the 10+ no annual free cash back cards I have.
@g.m3399
December 19, 2023 at 11:25 pm
Lol American credit card holders just reached 1 trillion debt
@user-vb4wi4nh4x
December 19, 2023 at 11:25 pm
My 2 cents dont use them The big corps will entice with peanuts offers
@nicksreviewsmiami
December 19, 2023 at 11:25 pm
Should we listen to a guy that has window curtains bunched up on the floor in his home?
@crow-vz5lx
December 19, 2023 at 11:25 pm
This is so dumb.
No one is thinking about the risk.
Ie you loose your job. Get sick. Lose income beyong your control. Credit score is bs
@ken-ny3nh
December 19, 2023 at 11:25 pm
Nah. Spend thousands. Get back $100? Nah. Get out of that debt. Be free.
@Arienrhod
December 19, 2023 at 11:25 pm
I buy everything with credit cards. Extended warranties, added protections, limited liability, and cash back. I pay the cards off in full every month. This year I got just shy of $3,000 in cash back rewards.
@TG-cr6fb
December 19, 2023 at 11:25 pm
Credit cards give me anxiety
@khj5582
December 19, 2023 at 11:25 pm
Isn't the credit card system a scam by the banks? They lure you in with silly gimmicks like credit score and rewards, and make money off of you when you pay the high interest, which inevitably will happen. And people who say it's smart to use a credit card instead of debit are falling for the credit card marketing.
@952a259
December 19, 2023 at 11:25 pm
I enjoyed the video, thank you!
@robertl3533
December 19, 2023 at 11:25 pm
Debt is dumb and cash is king.
This video has to be the worst advice of all time! Clearly not fans of Dave Ramsey.
@user-ny5xe2hx7t
December 19, 2023 at 11:25 pm
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
@handyman7297
December 19, 2023 at 11:25 pm
Dont use credit card!!!!! Hate it with all your hearth
@michayng4105
December 19, 2023 at 11:25 pm
👍👍👍
@noobmusician3091
December 19, 2023 at 11:25 pm
No..
@msmaam6027
December 19, 2023 at 11:25 pm
I receive approximately $600 cash back from credit cards every year.
@metricmine
December 19, 2023 at 11:25 pm
I pre-pay my credit card so I always have a negative balance. I monitor my funds online and transfer money to keep my balance negative. I only use the card when I really need it, like online purchases. For physical stores, I almost always use cash unless the amount to pay is too high to carry around in cash. With credit cards, the bank wins. You do not save money or build wealth, no matter what this video says to convince you.
@umkc73
December 19, 2023 at 11:25 pm
So says the 1%.
@AndreaFlorio
December 19, 2023 at 11:25 pm
Absolutely not. Don't get trapped in this loop. Use debit cards only, don't spend more than you actually have in your bank account
@dirtybastardlittle7485
December 19, 2023 at 11:25 pm
WTF?…infomercial much? LOL 😂
This BS is a credit card infomercial under the guise of ‘news report’. 👎
@stevegolacks8731
December 19, 2023 at 11:25 pm
Credit card are the way to go. Studies show when you have actual cash in your wallet, you are more willing to part with it. Cash will go fast, and your mind will allow you to spend more. ALWAYS use a credit card.
@RETUSAF1995
December 19, 2023 at 11:25 pm
I last used a CC/debt card in June 2001. I never looked back. The average American has $5,000 in debt. I have ZERO! No car payments either. The man with no bills is a rich man.
@blahblahblaney
December 19, 2023 at 11:25 pm
A credit card made this video😂
@russellsilber5763
December 19, 2023 at 11:25 pm
Tell the Banks to stop cutting our CC lines
@manvsmachine1
December 19, 2023 at 11:25 pm
You guys are being ridiculous! Who is paying for this nonsense?! The research clearly shows that credit card users spend WAY more than they would otherwise, points savings included. Brain chemistry is totally different between Debit/Cash & Credit card usage.
@dalebenton3354
December 19, 2023 at 11:25 pm
It's easy to borrow money,Having to repay it back is another thing,In this day and age,It also has interest on credit cards,Borrow £100 paying it back with the interest rates,Could be an extra £25,£50 or more,Thats how Banks make their money
@historiqueafricaine1225
December 19, 2023 at 11:25 pm
Watch Dave Ramsey and come back to this video later, then make your own financial conclusion 😅