Remember the saying “Cash is king?” Well, I think we’re slowly entering an era where cash no longer has quite the power and leverage it once used to have…here’s why. Add me on Instagram: GPStephan
GET $50 OFF FOR A LIMITED TIME WITH COUPON CODE: THANKYOU50
The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c
GET THE MERCH: http://www.GrahamStephanStore.com/
Here’s why you shouldn’t pay with Debit or Cash…and instead, pay for everything with a credit card:
The first reason you should put everything on a credit card is for security. When you pay for something with cash, the cash is gone from your hands as soon as you spend it…and if you lose that cash, it’s also gone. Similar with a debt card – when you use a debit card, you’re giving the entire world direct line to your ACTUAL money. Every time you use it, at an ATM or when making a purchase, you’re pretty much pulling your cash directly out of your checking account.
With a credit card, on the other hard, you accrue a balance on that card, and then you pay it down by the time it’s due. NONE of your actual money is used…it’s like being able to use someone else money for 60 days, completely free, and at the end of that 60 days, you pay that person back from what you’ve spent. The credit card becomes the BUFFER between what you buy, and your money.
The second reason you should put everything on a credit card is PURCHASE PROTECTION. Many credit cards offer this as a perk of using their service…and this should be reason enough for you to start charging everything on your credit card.
First, we have credit cards that offer purchase protection – this means that the credit card company will insure your item for 90-120 days in the event of damage
Second, we have credit cards that offer price protection…this means that if you buy something, and then find it CHEAPER within usually 90 days, you can submit the cheaper price to the credit card company and they will CREDIT YOU BACK THE DIFFERENCE.
And third, we have return protection…this means that if you buy something and for whatever reason decided to return it, if the merchant won’t accept a return or issue a refund, your credit card will cover you and accept the return on the merchants behalf, then they’ll just reimburse you directly.
Fourth: extended warranty. Many credit cards will extend the manufactures warranty of an item by matching it for up to an extra year.
Next, we get my total favorite reason to use credit cards over paying with cash or debit…and that’s REWARDS. Just use the credit card for your normal spending and rack up free travel, free hotels, and free cash back in your pocket…all for deciding to use a credit card over cash. This is also known as credit card churning.
And finally…the last reason to use a credit card Is to boost your credit score and credit utilization. In the United States, your credit score is a huge factor in determining whether or not you can get a loan to buy a house, car, or any other purchase you want to finance…it also determines what interest rate you pay, and whether or not you get a low interest rate, or a high interest rate.
So I’d like to think ALL of those reasons I just mentioned are fairly compelling just to use a credit card for EVERYTHING, and to ditch the debit card and cash altogether.
However:
You should NOT use credit cards to rack up debt IF you don’t have the money to pay it off, in full, when it’s due. You should never pay a single penny in interest, you should never increase your spending just because the money isn’t immediately taken out of your account, and you should have the cash available to pay it off, in full, at all times.
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
Favorite Credit Cards:
Chase Ink 100k Bonus Point Offer – https://www.referyourchasecard.com/21/ZVSGGIXM8U
American Express Platinum – http://refer.amex.us/GRAHASOxHd?XLINK=MYCP
To Dislike and Unsub in one click instead of two: https://bit.ly/2S47t55
I just got aroused by capitalism…
Graham Stephan. First things first. Gotta give you credit. You are amazing and I love to watch your content. I have taken your advise and it’s worked for me time and time again.
Gotta give you credit.
About when you were talking about the older generation bit.
I have noticed that our young generation seems even more prone to spend on a credit card then ever before because the main problem had only grown. The lack of financial literacy.
If that isn’t fixed or properly taught or learned via ones own interests, then the debt habits will only multiply.
But again, I love your content and I have applied it to my own life and I can’t thank you enough. Please let me know what you think. I value your opinion and knowledge.
You really need to add tweet, pin, share, etc. buttons. Get someone on this ASAP
Dislike, Unsub and send SWAT team? Love you bro.
Bruh , to buy it I have to make another click 😒
Yeah, no. I will not borrow money, I will not spend money that I do not have, and I don’t care about credit card perks. Credit cards make people poor, sure there may be people who use credit cards responsibly but almost no one does.
I think this was dumb down enough. Love the sarcasm as always 👍
Hacking issue are best fixed only at hackingjesusisreal @gmailcom,they have been my backbone of my business by helping me to build my business credit profile after fixing my personal credit,thank you Bodgan you can hit them up too because I don’t think there’s ever a credit problem they can’t fix
Credit score are currently EQ 812 and all unwanted negative items gone with the credit sweep services of hackingjesusisreal @gmail🔴com. It also work if you have a very good profile but need inquires, debt,medical collection l, repo etc cleared, in my opinion, I think the credit repairs from Alexander is the best
I will always show my highest regards and appreciation to this site “hackingjesusisreal@gmail🔘com” they wiped off 32 negative items from the 33 I got and it improve my score by 220 points in just few days, thanks to Alexander Bodgan for supporting me to achieve my credit goal
Lexington law is quite frustrating well I trusted in there administration and they didn’t leave me at hazard or such and I got all consideration required and help to have option to keep up 844 financial assessments which Alexander Bodgan at hackingjesusisreal @gmail🔵com supported for me
I was in process of buying car and wanted a highest score credit. I was able to get 0.9% on a 2020 Acura MDX! If anyone is seconding guessing themselves, this company is 100% the real deal! Ask for Alexander he’s helped with getting started tradelines and credit repair he’s sooo helpful and full of knowledge, and thanks to hackingjesusisreal @gmail⚫️com you can look Alexander at that link above or (530) 346-4268
Lovia Trip 🥰🥰
That was a really, really good point at the end about the cash being “unaccounted for”. Sometimes I get paid in cash for a gig, and I usually stick it in my wallet and end up spending it at some point. It definitely is a good feeling to be spending this new cash and not touching my bank account.. which is bad. I think I might start depositing the cash so it is combined with the rest of my money.
Can you put bills on your credit card or does that not look good on your credit report?
Totally right
For the algorithm
The service I received at hackingjesusisreal is certainly worthy mentioning. It’s a well run operation with very knowledgeable personnel led by Alexander Bodgan. His expertise is notable and under his direction my experience with the company continues to improve. I am now in 800 club using their services at hackingjesusisreal@gmail🔵com you can look them up…
Hi thanks to Alexander Bodgan also know as hackingjesusisreal for your support over my business he removed all negative items from my card and added to my score thanks a lot hit him on (530) 346-4268
The reason why you should a credit card is because of the horrible scam they implanted on society, by demanding that no stores are able to charge extra for using a credit card without violating the terms of the card. Because credit card charge a 2-3% fee on every swipe, stealing hundreds to thousands of dollars per year by instituting a 3% increase in price for literally everything you’ve ever purchased. If you actually had the real choice to pay 3% for these services, the answer would be a clear no, it’s not worth it.
The first 20 seconds of this video are a subtle flex but I’m here for it
even if you just use it for 1 type of purchase, (groceries only, or gas only) something you spend a a lot on normally. For me, thats gas. I have to fill up every other day as I drive for a living. 5% of all my gas is a pretty good chunk of change, and it makes gas 5% cheaper at the end of the month. A friend of my dad did this, except he paid everything with his CC. bills, groceries, and gas. He’s retired now with a new paid for house.
That last bit – so true. Cash feels like play money that I can throw away.
dont you ever leave balance on any of your credit cards?
When the lights go out credit cards do not work. Earth quake, hurricanes, ect. I stashed cash for those situations. I have an allowance set so when it runs out I quit spending, stop no more spending, can be difficult to do that on a credit card.
I agree about that people spend more with credit card. I don’t spend as much with card, but if I have cash I will more likely spend it on unnecessary stuff 🤷🏼♀️
Hi.. but what about the interest charge? For example my credit card’s monthly interest charge is $20.. if i use it again there will additional interest, it’ll.be $22 the next month, and if i keep on using it interest charge will be big? Isnt it right? Thank you
Which credit cards do you recommend that gives you purchase protection and perks?
Will it still have a positive impact on my credit if I pay off the credit card a soon as the charge hits the account, or do I need to wait at the end of the month?
for the low price of…… FREE
a girl posted her credit card details online and people in the comments asked her what her back code was and she said it. I tried the card on a game and it works but I’m not sure if its fraud or illegal to purchase something with the details of the card she put online. can you help me
@sandi Marie Lavati so what does he do?
MissyHowl MSP check there website for more
There are defiantly a lot of benefits when using Credit Cards and other modern payments methods. However, the cash is still King in some other regions in the world, like the Middle East for example. The people still prefer using cash and it doesn’t look an easy mission to change this culture. That’s why all businesses here are still offering cash as a primary payment method.
We’re filming a series on that and would love your feedback…
This advice is fair, IF one can be disciplined enough to follow your approach without abusing it to go into debt. The caveat is that, approximately like your video recommending index-fund investing where buy-and-hold outperforms the 99% of active traders, what percentage of the populace do you really think can handle access to credit without using it? The allure is great, and the gravitational pull is strong!
Wtf? Credit cards also debit from the account! Or is this different in the US?
Aaaaaand when you’re on the run, credit is traceable and cash is not. Just a thought 😉😂
People please realize that a lot of the protections he is talking about (besides unauthorized charges) will not be available with a normal card. He is talking about cards that uses that have over a $500-$600 or more in a annual fee to actually have the card. He never brings it up when he talks about his American Express platinum or other high fee cards he uses.
good comment. Had no idea. thx
Pushing the cashless society agenda, eh?
use credit w/ cashback for ordinary, inevitable, expenses and then invest the cashback. cash can’t grow like that.
I really appreciate your videos Graham. Been on a streak of them during lovkdown and you give the most concise and clear advice that is very easy to follow. I feel like we have similar minds because you’re so easy to follow 😂 Respekt b0ss keep it up
Me:
Cries in eruopean
Credit cards are bad for small businesses. They charge 1% more than debit cards and 3% more than cash.
But I thought using your credit card more would increase your utilization % and affect your credit score?
There is no such thing as free .
Just UNSUBBED 😒
Dummy, it’s about self control or lack of, that determines whether it’s a good thing or not. With debit card, that puts you on a budget mindset.
How do you pay your credit card balance… Oh wait..👀 I guess I’ll keep some debit👀👀👀
Martinez is legit and reliable ( NO UPFRONT PAYMENT)
Have worked with him some months back and believe me he’s one of the legit hackers he’s the best if you need help with paying off debt ,credit score fix , credit card ,bank account,phone hack, PayPal hack .
Contact him on +12013507159 via WhatsApp
Mail him on martinezraber@gmail.com
You can check there website newlogicsolution.com
Well i have a cash counting machine (Kores) and I enjoy physically counting the cash in this machine and use the cash
Wait so, you still need to put your money somewheres, so what would you consider to be the best debit card to use ?
Flashing those hundies is eye catching. lol Do you recommend direct account transfers or credit card billing. Which payment services do you recommend for websites? Liked this content on credit card insurance protection.
Some old guys recommend $1000 in cash for emergency’s in a secret wallet fold.
How much should I charge for back yard pool/staff house drawing. What would be better an e-draft or paper tube delivery. 15% deposit credit card? Need the backyard dimension’s and some city parameters.
Same branch transfer safest they have all the particulars they do holds too. But you can see the particulars on the screen.
You are so right. I spend more when I have cash on hand.
Can a mortgage be paid on a credit card?
I agree in some part, I use a debit card since I was 11 (23 now) and got used to give a “destiny” to all the money in my account and when I have cash in my pocket I feel like it’a bonus money with no “destiny”, so I feel more free to spend it recklessly.
Fair point but the contractors working on my house don’t seem to be accepting anything other then cash (What’s up with that 😉 lol)
wowowowowowowowowowow
My paycheck is digital money; it’s just the numbers in my bank balance changing! So I agree with you that our generation is used to dealing with digital money, not physical money.
It’s a great thread. I’m glad people are learning.
One unmentioned benefit of credit cards is that you get a monthly statement of your spending. You can see right away if you have bad spending habits; it’s harder—at least it takes more work—to do that with cash. The Amex Platinum cars mentioned in the video allows you to assign categories to assign categories to spending, which may be useful for some.
Someone posted this guy *@Darkjacob* on *telegram* yesterday and I tried him he is real..thank you very much for this help full information about the credit card & Debit Card with high balance thanks bro 💯
What if they only except cash only
Good thing you asked for a like. I was kinda waiting for it thinking youuu would never ask.
Dave Ramsey’s advice on credit cards is great, if you’re really stupid and broke.
have you tried it though? I’m pretty financially responsible but ima give it a shot for a month. Maybe Dave Ramsay has a point or maybe not. who knows XD
Honsol0 why would I get rid of all my credit cards when I have no debt, have a excellent credit score and have less than 1% utilization? No bank would give me a loan I did so.
Lots and lots of people fail at the last two items you mention.
I’m 50 and I’ve been doing exactly what you mentioned in this video for the past 10 years. Works great!
Thank goodness for Legitcard0 on telegram for changing my life.. The cc I got is working perfectly, you’re a life saver man. Also legit in PayPal money transfer. Thanks for the recommendation once again guys…..
I starting using my credit card instead of my debit card. My credit card company has way better budgeting tools to keep me from overspending. I always pay off my balance in full every month and my credit score went up super fast! Plus all the cash back rewards!
Credit cards are NOT EVIL, people’s bad habits are, don’t confuse the two. A credit card is a very useful tool IF USED PROPERLY. If you can’t control your spending than don’t get a credit card. I just use mine to make all the purchases I would normally make regardless and i never max it out and I always pay the statement balance so I NEVER PAY INTEREST, plus I get the rewards. Win freakin win…Graham is right on the money!!!
Someone can’t remotely steal cash. With credit and debit cards they can, forcing you to carefully check statements and follow up with fraud departments. Governments want a cashless society because they will be able to tightly control their citizens and silence dissidents. Credit card debt holes are real. They enslave people and create unnecessary stress. You aren’t seeing the full picture.
So you lose your debit cards but know where your credit cards are. Really! Plank.
If you had a only fans I would buy it with my credit card
How much money should you keep in checkings?
It’s been crazy since covid .I was happy today when DHHS grant delivered grant money to my home mid day. Thanks to DHHS grant and thanks to lucas micheal.. contact him on iG lucas_micheal01 to apply and start up something for yourself.
I opened up a 5% credit card with my bank this month. I can see the total on my bank’s website with my checking and savings account (and I can pay it off online using funds from checking or savings).
Ok, you convinced me but I have a question. When you go to a restaurant would the waiter/waitress rather get their tip in cash or have you put it on the credit card? My guess is that they would rather have cash so they can put it in their pocket rather than wait for the manager to divvy it up at the end of the shift or however they do it. I am asking because I don’t really know having never worked in a restaurant.
You’re an idiot!!!!’ 🤪🤬
yet another reason: some cards offer cash back on all purchases. Pay monthly bills, buy gas, grab lunch, and you get a little back. Have the cash back credited to the card balance automatically if possible. Pay the full amount monthly, no interest paid, and you profit.
But you pay your credit card with a debit card
Doesn’t work for me, older generation, lost 5000 points when Bank of America cancelled four cards during 2008 market crash. I have only received things from the rewards cards page when using points, usually requires 15,000 points to get anything. I do not spend enough money to to take trips, or get extra hotel rooms, requires more points than I can earn. When shopping at groceries stores, I only allow myself $20 for a week for groceries, I can do that, I use a calculator to stop pulling things off the shelfs. A credit card would louse that up. I have a budget for gas, food, and lunch, in my budget, I use cash for that, if I have anything left over, it goes to next weeks budget or back into the bank account. It scares the hell out of my to think we are giving up money for digital spending, and the gov knows what one is spending. So most of us can not collect points to buy much. I am on Dave Ramsey side, on this one.
I saw this name all around on YouTube here called *realcardder* on telegram. Then I try him out for cc for the first time and I got one from him I can’t believe the cc is valid I cash out 10k last night from the atm and withdraw the rest to my cash app. Thanks man you my real cardder. Guy trade with him is dam legit bet
Really an eye opener 👍
Do all credit cards offer these protections
I agree because when use a credit or debit card it’s easier to keep track of your money
Do you use auto pay
What credit card do you recommend I’m building my credit I’m 19 and don’t have a credit score at all I need one to help me manage money
The Discover It Secured Cash Back
Cash was king when walmarts systems shut down leaving everyone in the store without access to their money… 😂
Id say carry at least $100 in cash if you find yourself in a pinch.
I love this guy and listen to wverything Mr. Graham says.
However this information is inaccurate.
Credit cards have the same protections as debit cards.
Debit cards have up to 250k to respond to customer for any kind of fraud or theft because they have that insurance
I experience that and the bank immediately put the money back into my account and started their investigation proccess.
Paying everything with credit does not help you to build credit fast.
Utilization ratio is a key component of the scroing system so having a utilization rate of 50% or 30% actually put you in an average situation.
The better according to Experian is
is 10% or less.
Third paying with credit card everything you do creates vice amd sooner or later you will start spending money you don’t have because you pay it later but in case you couldn’t pay then Mr. Murphy comes and ruin you financial life leaving a person with a debt of thousands of dollar for every hundred dollars owe amd accumulated.
Fifth anyone can get better deals on almost anything paying on cash.
Telling people to pay everything with credit card is like telling somebody to drink and smoke as much as you feel like it because life is short and we must have fun.
It doesn’t make sense.
Economically make better sense to have people debt free or with very little debt, because as society means the economy is robust and the national GDP stronger than ever.
It makes sense and logic to have very little payable short term debt in case is needed, because it allow debt securities called bonds to have less risk.
Also help banks to lend more money to companies and by default economy flourish rapidly
How does he pay the mortgages on his properties?
Great video! Thank you.
I only pay with debit because I’m not age of majority so I can’t legally use credit.
Stop showing those fake bills lol…trying to flex when In reality you’re broke
my sister got into deat before and had to pay my dad a lot of moeny thats y i don’t want a credit card i don’t to add up debt like her so i only buy cheap stuff like snacks and drinks i try my best to keep a eye on my bank accout and make sure i’m never overspending my moeny + i still live at home and liveing on yr oun is expensive well liveing at home with yr mom and dad is more cheap
i thought credit cards add interest to every payment…but its only when you let it go to next month i guess.
Credit is king and I’m going to walk in it
I agree with what you said Up until the reward points
What if I pretend I bought something and it’s stolen ? Would that work 😅😅??
Dan Lok is a disreputable scammer. I would be ashamed of even meeting him by chance.
I know a coworker who makes $7 hr. More than me. He’s always broke because he spends his (cash) on Doritos and liquor 🥃! I don’t buy D & L and have plenty of money! Credit is King 👑
You can’t be more right! I have been using credit cards all my life to pay for everything. And of course, the credit card companies have never charged any interest as I pay 100% in full on the due date.
Hello Graham! i wanted to ask you how about monthly subscriptions to you also direct them to your credit cards?
I feel like most of us should work on one credit card first for about a year or so to understand how it works, get the idea that you wont spend what you wouldnt with cash,
As our lives become more focused on technology it’s more common than ever to thank people for gifts on social media. While you should try your best to individually thank those who give you something, these social media posts below are an acceptable option. So I came here again to appreciate you 🙏🏼🙏🏼
Facts, if i have the cash I consider it not relevant due to no longer being in the budget. I look at it as being “already off the sheet”
I pay with apple and people for some reason don’t like fruits🥹