In this video, I will share why I rarely use debit cards. We will discuss three primary payment methods: debit cards, credit cards, and cash.
Which one is best for you?
The answer is not “one size fits all”
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I ONLY use a debit card for one thing and that’s alchy because SPECS automatically gives you a 5% discount at checkout when you pay in cash or debit. About Dave Ramsey … I seriously think or at least hope he’s smarter than that in real life about credit cards … about this topic though … he has gained a huge following because his ideas appeal to the masses. Don’t really want to assume anything, but if he’s smart enough to figure out how to get this much of a following with his ideas … then he’s probably smart enough to personally agree with a lot of what Graham Stephen says …. although he would never publicly say it and we’ll probably never know 😉
I thought you can pay Bills with only your debit Card
ok…
Hi
@Nate O’Brien debit cards are for poor people and im low middle class
that is a lot learned! thank you Nate!
i cant have credit cards cuz i will charge them alot on stupid stuff so debit will help me not spend more than i have
For me it hurts me more watching my bank account balance go down that giving paper bills because I see both the exact amount I had and the amount I have now. ps. I check my bank account balance everyday.
Stupid people use debit cards. Smart people use credit cards.
Dumbest advice ever..people don’t get credit cards because they are planning to make money with it,the things that Graham talks about milking points u think he does that?Mr millionaire from real estate at 26?he’s just saying that shyt because that’s what all finance channels talk about,unless u have like a Amazon business and fund ur inventory using credit cards and pay the bills off every month
….debit cards are perfect for poor people especially poor young single people,perfect for tiny budgets,and if u don’t spend what u don’t have,u will never be in trouble….
Credit cards are like temptation island,like sirens call,when things are feeling tight,u tell urself,if only I had access to a little more liquidity…..I just need to buy this electronic gadget,I just need a little bit more money to gamble,I’m getting my paycheck soon,I’ll save more next month……just a little taste of the crack cocaine and ur down the rabbits hole….one day u wake up and find urself lieing in a ditch,piss and vomit all over ur shirt and pants with a credit card bill for $40,000……and u make $2,300 a month before taxes…..
Lemme tell u this if there was a credit card for sex or love,I would be tapping that shyt all night long,I won’t be incel and forever alone no more but
What about a prepare credit card?
kinda had to shake my head on the apartment scenario. it’s a bigger pain in the ass to have your social security stolen and often it’s stolen from the landlords possession. They don’t need a damn credit score just build something called a Renters/rental history that shows data of paying your rent on time in the past. Or pay more of the lease upfront to convince them you’re capable to have the finances.
I got nothing against debit cards, I use cash most of the time. Why pay for something you can’t afford? I’m not a credit card guy BTW (a lot of scams) I rather stick with my debit card and use money of my bank. If I don’t have the money so be it, I don’t need to borrow a bank’s money to pay it back with interest.
I use credit card for car rentals. For the rest, debit card.
Using credit cards is as stupid as it gets when you’re young. . Only an idiot uses a credit card. There is no pro to credit cards. It’s a stupid, stupid, stupid thing to do.
Credit cards make sense only when you have enough money to simply not care about how much money you spend or lose.
It’s fine to have a credit card for those very few things that can only be paid for with credit cards. No cash, no debit card, just credit cards. But only a damned fool uses a credit card for anything else unless their bank account has seven figures in it. Even then, care is required.
There is nothing stupider than the combination of a poor person and a credit card.
Buffer, my ass. That’s even dumber than the credit card itself, which is stupid.
A credit score is good, but there are many ways of building a credit score without using a credit card.
And do you know how to beat out someone with a great credit score, even if you have none? It’s simple. While the other guy is telling the landlord how good his credit score is, write a check for the damage deposit, and for a full year’s lease.
Often, even a three month payment will convice a landlord, and a six month almost always will.
And NOTHING is ever “totally free”. It simply isn’t. the number one rule every investor, every rich person knows is true is TINSTAAFL. Robert Heinlein made this rule famous. You say it like a word, but it stands for “There is no such thing as a free lunch”. There isn’t. Ever. Period.
Those who want to be rich, who want to be wildly successful, should have this tattooed on their foreheads in reverse so they see it every time they look in a mirror.
This is somewhat in the category of not buying things just because they’re on sale. Only two things make a trip okay before you’re very rich. 1. You aren’t extremely rich, but you have enough money to pay full price for everything without missing the money, and without taking a single penny that would have been used for investments.
his doesn’t mean you have to pay full price for everything, but it does mean you have to be ABLE to, if you wanted, and without missing the money in any way, personal or investment related. Would you take this trip if you had to pay full price for the air fare, and all other expenses. If the answer is no, then stay home.
The other justifiable reason is that it’s a business trip that will make you enough money to generate a serious profit. If you don’t show a steep profit as a direct result of the trip, stay home. You’re just buying something you don’t need because it’s on sale,
But if you don’t remember and practice TINSTAAFL, you’re going to have trouble getting where you want to go, barring a completely unexpected and very large windfall. Pure luck, and no one should ever depend on luck.
I don’t know… I don’t like being on a deadline to make payments… I’m still a debit guy.
Do you use any apps to keep track of your finances?
Would be fun to see a vid with Dave and Graham debating over credit cards.
i use marta debit cards
I’ve run into problems using a debit card for air travel, rental cars, and hotels. Especially rental car companies. They don’t like debit cards.
I want to have a debit card but I’m scared since its less safer than credit cards when shopping online
Can I use a debit card to make online purchases
I totally get how some people think that debit cards feel like your own money and you only have $200 in your checking account, versus a credit card with a $2,000 limit and spend some ridiculous amount of that credit limit. Me personally, both of them feel like my own money. I do not see a credit limit, I see my checking account limit. So even though I have a total of about a $10,000 credit limit if I only have $500 in my checking account I am only allowed to spend that much.
I think credit cards are a great way to make/save money, wether it be churning them or trying to achieve a 750+ score. I am 18 and already have a 720 FICO Score. Currently saving up for my first non credit card credit type. Which would be a house. There is sooo much money to be made in the housing industry. Wether it be renting out, flipping, or whatever else. I have been looking for a duplex for a while now and when I find one I am going to pull the trigger on it. So for me Credit cards are a great way to become wealthy. Sometimes the only way to make money is to have money.
Do we really need paper currency? By eliminating paper money it’ll save trees and decreas the chances of getting robbed etc.
Can you spend almost all the money in the debit card or does their be like 30$ left or something?
I use debit most fo the time. I only use credit if I have enough to pay the full charge at the end of the month. Credit cards are a plague. I have great discipline which is why I never have to pay the credit card outrageous interests, my debts are always within what I can afford, and my credit grows. Even though the credit reporting system is a scam.
Why do u think the credit reporting is a scam??
Extremely simple explination:
Debit card: simple and straight forward (just like cash in your wallet)
Credit card: more advance thinking required, but can be more beneficial in the long term. (As long as you can pay the bill and don’t owe debt, you earn bonus perks)
I use my debit card to payoff my credit card statement each month
I bought my banklog from **Dumpscardingg** on telegram with the easiest cashout method which worked 100% no red flag at all he own me a lot,I also bought some credit card from worth the balance I requested which actually works fine the dude helped me alot with his stuffs work with him guys, I’m earning much already ✅✅✅✅
Very well said! Simple living,makes sense and debt.free.😁
I need help with credit score
If you swipe your debit card it goes through the Visa/Mastercard network so you are fully protected like any credit card. If you use your pin number it goes through your bank directly with less protection. My Debit card is a Visa Signature so I have all the benefits of any Visa Signature out there. So you don’t need Credit Cards in your life. Yes, you will get points and cash back with credit cards.
I have a debit card and I’m quite satisfied with that than a credit card.eith my bank,they have online banking and you’re actually notified whenever it’s used or there is an attempt to use it.i get my monthly funds deposited directly to my account,so it’s kinda like having a credit card and maxing it out and having it paid each month in full.i hardly use cash.about 90-95% of my transactions I do using my debit card.
If you loose your credit card it sucks,
If you loose your debit card you are done for.
The reason I don’t use cards is because of money laundering ☺️
I am an excel balance sheet/spending kind of gal – you are not alone Nate 😀 feel free to check out my youtube channel
If you don’t like putting yourself in debt, then get a credit card. It could come in handy sometimes.
POV: just got a Debit card
Dave method is for people that hate doing math for their benefit. Graham uses mathematics to turn every last penny in his benefit.
Cause you’re like 15 and you can’t
Because you’re dumb.
The end.
Ur voice is cute and thanks 😊
so is his face
I’ll forever be greatful to darklurd on telegram he’s the best I’ve ever work with..
So happy I met @Darkphate1 on Telegram he saved my life after being duped on this platform so many times he got my cards delivered to me with great balance on it…So I’m so proud of him and vouch for him…
Yo r u Mike O’Brien’s bro. U look similar
@nateobrien
A Happy I gt to invest with a legit vendor like Steveedarkplug on telegram, amazed me with his service cos he gives real working dumps thumbs by man
The cooing digestion rheologically rejoice because quart reversely miss times a nonstop command. witty, bewildered event
right on son
The fact that this is even a conversation is insane. There is no world where a debit card is better than a credit card. The only time a debit card might be better is if the merchant doesn’t accept credit, or you’re a reckless spender. Anybody with an ounce of self-control a credit card is a no-brainer.
If you use credit cards to increase your credit score, you shouldn’t have a credit card.
Why are you going for a higher score?
To be able to borrow more money.
Why are you borrowing more money?
To spend more money.
You’re literally the poster child for Dave Ramsey.
The only people that should use a credit card are people that could care less about their credit score. Graham Stephan has a 800 rating but it’s irrelevant to him.
I learned I needed a credit score when we couldn’t get a home loan. 🙃 And then I learned that length of credit history matters almost as much as the score itself. So now I have a credit card (paid off every month).
Do not have to worry about paying credit card off do not want one easy to get into debt don’t like that i pay for the things i purchase its done no credit card bill in my mailbox 📬
Why would you buy something that is 250 if u dont got 250????
Why not? Debit cards are clearly superior, you have money, you buy stuff with your money, don’t have money? Don’t buy anything, credit cards on the other have no discipline, you can easily go into debt because you get to greedy and buy everything and you don’t even know.
1:12 video start here
My life easier without credit card. I feel freedom when I cut it.
” I literally run balance sheets for myself. Is that weird?” 🤣🤣🤣🤣🤣
Thanks to Beastclone on telegram I got my cc with high balance on it.. Now can’t ever remember I got debit card 😀,, Can’t thank you enough my sweet man
The real reason is cause your white I know that credit fire💸💸💸
In Europe, credits cards aren’t really a thing we use since we only really need credit for the big purchases in life like cars and houses
The guy has talent and should make videos going forward. Unfortunately he presented no information of value that you wouldn’t learn in middle school. Literally nothing of value
you’d be amazed at how many people are clueless to stuff like this.
Why doesn’t he use debit cards? I don’t want to spend 12 minutes to find that out, but I’m curious. I watch his other videos though
I actually liked this someone who finally encourages debit cards if thats more suitable simply. Thank you for also explaining the con of a debit card.
I mean it doesn’t the card that is bad. Just how your self discipline as responsible consumer.
awesome Nate
What if I’m 15? Would a credit card be good for me
I like the life I work for. I dont like the idea of living a borrowed life or living above my means. (I’m not talking about stuff like mortgages, loans… etc :))
For me Debit card is better coz i can control my spending..
🐈
because you don’t want to charaught!
debt….debit… DEiBT
I wanna chat with u business talking
Reply me on Facebook sir
What is a debt card????? People keep mentioning it or they are bad at typing.
Try using a credit card at the post office, not happening.
so why would you listen to young adult about debit card watch dave ramsey he know what he’s talking about
i use my card to pay all my bills like utilities, phone, mortgage & some necessities… cost me around $2000 & i get like $50-80 cash rewards
& pay it in full within 5 days 😊
Wise man, cash back is a joke (or a trap).
I wish i could get better cash back than i get on credit cards. I have found the cash back is not much to place yourself into potential debt to maintain. I have good credit but it is too easy to abuse while debit makes you aware of what you have in your account. I use debit even though for years i fought using it instead paid by checks but today checks cost money and they have to be printed , a bother so it’s better with debit. Now i do not carry a checkbook or other money because i had my wallet stolen by simply setting it down to load materials then i forgot went to check out realized i set it down went back to find it was stolen. Now i only carry a debit nothing else way safer.
Credit cards are for working people who make more than the amounts they charge per month. You have it stay in front of this debt to not end up abusing it. It is great at buying time but never abuse that. For older people who have a fixed income Debit is best you can have a shared account so if you died that other person can access your account without legal actions. Of course you need a person who you can trust and they should have their own means for paying bills. Another advantage. To limit a person using your debit without your consent only have one card available to you which you can get them to use if you cannot go somewhere to buy things you need .
credit cards are the better way if you can afford to pay in full each month. debit cards are for folks who don’t qualify for a decent credit card or can’t reap the benefits of any decent credit cards. I leave them at the house.
Thank you ☝️☝️dealing with you really changed my perspective about vendors on here,keep up the good work🥰
I use my credit cards like a debit card and I pay it off in full and my credit score is 721 now.
This not true the most peace of shit of all time is credit card. Only use debit I have everything under my control.
I only use credit cards for large purchases. I am not going to use my credit card to buy a local train ticket that only cost me £4.00 or a newspaper in the store that costs me about £1.50.
Cash clearly cut and dry one thing for another you’re over your done
In Europe debit cards are the default cards. Credit cards are pretty uncommon.
you look like keira knightley , seriously
I have a question? Should I get an Amex if I only travel once a year? I do like cash back and not sure you can do both!
If you’re irresponsible, broke and suck at managing money… Use your cheap debit card. If you’re responsible like a Boss… Use a credit card. It’s that simple.
Will be looking into those credit card perks
God Loves You and Jesus Christ Cares For You !
Don’t try to impress or show up buying stuff you don’t need or can’t afford because you have a credit card. Especially if you are out with a lady on a date or a bar(bar is a money pit).
Thanks for all the info. I can and always pay off my credit card each month since I dont put allot of credit items on the card. Plus I dont buy something with my credit card if I dont have the money in the bank to pay it off end of each month. So I am using it kind of like a Debit card just that it is a delayed payment each month.
When i go to get groceries, gas, or out to eat, I always use cash or checks. I have never used a Debit card since I am writing checks when I shop. Same goes with my credit card even though it is better protected, I usually dont carry my credit card out when shopping to also possibly prevent scammers from getting the card number and information.
If I do get bonus points or a little cash back is kind of a small bonus using my credit card. All in all this has worked out for me quite well.
I use credit cards for the security. I don’t go spending silly.
Your so right !
5:25 here in india it follows otp system when we purchase something online it requires a otp to be entered, i’was shocked when i got to know that us cards doesn’t require any otp anyone and use it
I use my credit card all the time and pay it off at the end of the month with my debt card money
How do you pay a credit card bill without a debit card?
Fantastic video, great information in very simple terms.
I commute a lot for work. I have a credit card that gives me 3-5% back on fuel. I have saved literally thousands of dollars over the years using credit cards just on fuel alone. The only reason credit cards are viewed as bad is that a lot of people can’t manage money and overspend and get into credit card debt. If that’s not a problem for you, credit cards are a very useful tool.
Spot on Nate!!!
I ended up getting in like 10k in credit card debt, it just kind of happen, now im paying them all off and kind of living lowly. I had to learn that it’s not free money and I have to spend how I would normally spend with a paycheck not looking at the credit limit like that’s what I can actually spend because it’s there.
We were never taught in school how to manage our money. If you have bad habits/no self-control than credit will be the death of you.