In response to my previous video, Unboxing The $10 Million Dollar Invite-Only Credit Card: The JP Morgan Reserve, here is exactly why getting a credit card can be a responsible choice…enjoy! Add me on Snapchat/Instagram: GPStephan
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Here is where people miss the point…having a credit card is NOT about debt, and using a credit card doesn’t mean you can’t afford something. When it comes to credit cards, there’s absolutely a RIGHT way to use them, and a WRONG way to use them…
The right way to use a credit card is to have the money available in your checking account, use the credit card to purchase the item, and then pay off the entire bill in full because you have the money available. This gives you a few perks:
1. First, you can do it for security. In the event someone takes your credit card and makes a purchase on it, most of the time credit card companies will reverse it, no questions asked.
2. Second, you have purchase protection. With the Amex Platinum, if any of my items are lost or taken within the first 90 days of purchase, I’m covered up to $10,000 PER OCCURRENCE. It also means that I get an EXTENDED WARRANTY.
3. Third, you have Credit Card membership perks…which would simply be too long to list here.
“Why would you need a credit card if you have that much money”
Answer: To get those sweet, sweet points. Check out this Billionaire who bought a $170,000,000 painting with Amex…not because he couldn’t afford it, obviously, but because he wanted the points.
This isn’t about going and spending money you don’t have, for points you don’t need…it’s about learning how credit works, and then USING this to your advantage. For me, I spend $0 in interest. NOTHING. On every single credit card I’ve ever had, I put every single purchase on the card and then PAY IT OFF IN FULL before it’s due…if you pay it back on time, in full, you pay no money to interest, and the credit card companies don’t get a dollar.
Credit is like playing with fire, you could either use the fire as a tool to keep you warm and cook your food, or you can burn yourself with it. Most people don’t have the financial literacy to use credit cards responsibly, and THOSE people, unfortunately, are the ones that make credit cards profitable for the rest of us. Credit card companies WOULD NOT be throwing us insane perks like if it wasn’t profitable…however, I want to change that. And the only way to change that is by showing people how to use credit cards responsibly and change the mindset away from “credit cards are evil,” to “credit cards are amazing WHEN USED RESPONSIBLY AND PAID OFF IN FULL WITH MONEY I HAVE IN MY BANK ACCOUNT RIGHT NOW INSTEAD OF PAYING IN CASH.” It’s really as simple as that.
For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve – https://goo.gl/sT68EC
American Express Platinum – https://goo.gl/C9n4e3
👍🏼💳 👍🏼
When he said Ligma.. I liked
Another advantage: with a cash you did not spend purchasing smth (using a credit card instead), you may earn % on a bank account, having a pure profit without doing anything – just delaying your payment 🙂
Hey Pavel! Which cards do you use most often? 😃💳
@@MarkReese Revolut abroad and credit card on daily basis
@@MarkReese yes, now they moved the accounts to LT
You are smart w/ money,Grahm. But, to the average blue collar worker, to many credit cards, will prevent you from getting loans,
I don’t fly anywhere, unless I break down. You see, I am an over the road truck driver. When I get home, I wouldn’t want to travel anywhere.
I do have one credit card, that I make $100 per year off of, in rewards points.
this was needed thanks
Graham serving grammar tea to the gentleman who heckled him for the JP Morgan card….let me pause for all this glorious entertainment. 🤣
Well said. The credit card game can give a lot, but one have to understand it. Some people don’t understand it even though one explains it to them 100 times.
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what’s ligma
Thank you!
@@MarkReese Well, still have no credit card, and having credit in my country is very bad… or it’s better to have none
Graham. I love your show but man this is a tough one to hear. Questions. A) how much do you spend in fees and interest every year on credit cards? B) do you think you’re sending people to slaughter who don’t have the same discipline with their money as you? C) do you think people can be as disciplined with their spending as you are? D) do you get paid any commissions or affiliate commissions for promoting credit card anywhere in your YouTube or other platforms?
Graham. Nay. You do not need to teach people to be responsible with credit cards. That’s not your job. You’re leading them to slaughter. Most people spend 10% to 30% more on credit cards because of the psychological disconnect for getting something now but paying for it later. Teaching people to save so they never have to use credit is the safer way for most people. I’m disappointed to hear this is your position on this. You’re causing harm and you are patronizing people in the process. People struggle with discipline around spending and they don’t need to be lead to believe that points for airplane tickets (to go on trips where they will overspend anyway) are worth playing with Fire.
“People are often willing to pay more for the same product when using credit than when using cash.” Psychology Today. Why We Overspend With Credit
Plus, you’re example of using credit for qualified business expenses is TOTALLY different than consumer spending. You may very well pay for business expenses that were already planned for on credit but consumers get a credit card and overspend and the credit card companies are brilliant at understanding the psychology to make consumers carry a balance.
Wow……I figured this out around 3 months after I got my first credit card, when I kept having to pay extra for the interest rates did some research and behold pay before the due date! (Only spend what you have on hand or saved *example: you have $10k saved and your car broke down repairs costing you 3 grand you pay with your card. When you go home that very same day and pay the card back the 3 grand you spent.* be responsible with a credit card when you have one, just because you have a 10 grand spending limit you don’t spend what you don’t have or make.
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
Good video, but 1800 on a washer/dryer? What are you buying Graham, supreme?
OH man ! I loved those sound effects, keep using them. Thanks this makes a lot of sense, subscribed.
805 banks and their employees disliked the video.
credit cards reward ppl who are financially responsible and punish the ones who aren’t thats it. just be responsible with it lol
Whats ligma and how do i get it??
first you get on your knees
I want a pizza!
@@MarkReese My credit journey has been fantastic! I just got one of the Hilton cards with the first year free. Now I think I’m going to cool off with the apps.
😂😂 hahaha this lol
Basically you are the guy the credit card company hate 😂😂😂
these kind of people get involved in protests like occupy wall street
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Cheese pizza with cheese crust
* “I too can’t spell well”
Haha good correction, I was thinking the same thing 😂👌 Any new cards in your wallet for 2021? 💳
Gooooooood
Okay, Graham’s energy in this video is brilliant. Thank you, YouTube algorithm, for recommending some of his older videos.
@@MarkReese yup!
If you don’t have anything good to say don’t say it. Think this was an epic video pointing peoples stupidity to them XD Thanks for the laugh and for educating us on CC’s. As soon as mine are paid off, I’ll use your system to get even better at my own finances!
This was half venting and half educational. Perfect 👌
@@MarkReese just got approved for my first amex card! 😎
@@MarkReese I got the Blue Cash everyday card. eventually I’ll get a gold I think. Need some kind of charge card eventually, but I’m still building my base of free cards to keep forever to strengthen my history in the long run. so far ive got the discover IT, capital one quicksilver and platinum, and now my amex 🙂
My parents don’t even own a debit card. They buy everything on a credit card and pay it off each month. With a check. They have a 900 credit score.
You don’t pay any interest if you pay it off every month in full. People who think cash is king are usually poor.
credit cards is like adding suspension to your mawney
How is this not click bait
“I’m a HATER cream”. HAHA…that’s lit. You get a like and a sub for that one. I have 5 cards, and am working toward the next 10…I thoroughly sport “I’m a responsible BALLER balm”, like most smart people. Credit cards cover my assets from fraud.
Hey Graham, I can’t believe some of the absurd comments. Thank you for your very informative videos, they have become a daily ritual for me! I love to share them with my friends and anyone else with goals. Congrats on the JPM card, can’t wait to get one of those. Cheers.
Gave the video a like bc of the grammar lesson lol
Bout to head off to college, and been watching a lot of your videos. Really helpful and insightful on how to spend money within your own boundaries and how to budget. Gonna be helpful for the future!
This is the best video I have ever seen when it comes to credit cards. The screen shots and music 🤣☠️
Graham is teaching us what school never did and yall just hating on him 😂 also I want the “but graham!” Sound bite as my notification sound
1:23 it was a damn good opportunity to say “when you take the time to write a comment for the YouTube algorithm…”😂😂😂
It’s not hard to handle credit cards if you don’t spend so much more than what you actually have
I came across this video and I’m not sure if I wrote this before but this is how I think of credit cards. Credit is just a fancy term for borrowing money. The same as asking a friend can you loan me a few dollars and I will pay you back next week, only thing with credit it’s a bigger scale. Your asking a financial organization to loan you money so they set up an account with a limit of thousands of dollars with a plastic card you use to access that account. The money spent is carefully tracked and added up which is then billed to you. I have never been in debt with a credit card because Im careful with how much I spend. Also credit cards are are a godsend for someone just starting out who needs to build thier score. I got my first credit card after college in 2014 and I now have a 770 credit score. People that are against them are people who have gotten in trouble with them.
@@MarkReese my score is about 780 now and I have a total of 10 credit card accounts.
Dave Ramsay says no credit cards… pay with cash… explanation needed?
I’m throughly enjoying my 10% cash back on my PayPal and restaurant purchases rn. Thanks Discover (and people with poor financial discipline).
I too can’t graham er WELL 🤣
If you treat a credit card like a debit card, and pay it off in full every month, they’re useful. If you can’t do that, don’t get a credit card. You will lose money.
Graham, I’ve really enjoyed your videos. Based on the comments you referenced, it sounds like you have some Dave Ramsey fans watching. Do you think there is any chance you could get Dave to debate you live on credit card use? That would be a spectacular episode.
@@MarkReese I generally assume Mr. Ramsey sticks to a branded message for a targeted audience. I personally find cash is harder to track and aggregate data for. Its also safer to use a credit card. Not only are you not carrying cash that can be lost or stolen, but you have more fraud protection with a credit card. And how are you going to operate in a digital world without digital currency? List goes on and one. In Dave’s defense, a lot of people don’t have the discipline or the financial stability to use credit to their advantage without carrying a balance, and when he takes a hard line on credit, he removes the grey space people use to convince themselves they have the discipline when they don’t.
I hope none of these small minds get under your skin while off camera. Your channel churns out super informative and essential stuff. Keep it coming!
@@MarkReese wasn’t too bad for a couple years but in 2020 my score soared like BTC. Cool vids on your channel as well thanks for your vids👍
If you have a bad credit score and really need a credit card that won’t put you into trouble. Contact *@flexible_tech* on Instagram… make sure you put the name in correctly to get in touch with him. He will help you out. Am flexing with my card right now without any issues at all. Your SSN is not needed for this ✅ thank me later. I have my own already. All I did was just to give him my full name and the card was delivered to me and it has a big credit line have been using it for 3 months now…. trustworthy and reliable… enjoy
This man is so smart
@@MarkReese yes sir i take half my advice from the likes Graham and Jeremy and the other half from Dave Ramsey
Don’t feed the trolls.
people who think credit cards are bad are people not financially mature enough to know what they’re for.
I liked because of the grammar lesson😁
I can’t thanks *Jackdumps*ontelegram enough for providing me with those dumps cashed out 3k yesterday
Thank you for escaping me from Dave Ramsey’s way of thinking. I LOVE it when he says not one millionaire uses them for points, miles, etc. I recently got my first credit card a few months ago. I spend it like a debit card and pay off my balance almost immediately once I spend. So far my credit score is at like a 670 after 3 or 4 months. Thanks you for teaching me to be responsible with it.❤️
@@MarkReese Thank you, I just got the basic capital one platinum. They have pretty low barriers to getting accepted.
Damn I shoulda commented that I was high lol
@Jackdumps on telegram is a real vendor I can’t believe my eyes that man too real Goat on this he on telegram He sell credit with high balance
*Dave Ramsey voice* “do you know what stagnant water develops on the surface? Scum, and thats exactly what the financial opinions of broke people are!”
@@MarkReese no, I hate the idea of credit cards, have all of my balances paid off, and don’t intend on using them at all, ever again. I’d rather save/invest and spend cash if I ever go out
@@MarkReese amen to that, appreciate the feedback/comment bud 😁🍻
So I can come across this honesty and trustworthy vendor @Jackdumps on telegram this is my second time of getting Cc from him so glad to know him💯💯💯
Thanks fir referring me to @Jackdumps on telegram His the realest vendor have ever hit up and does as he say I’m so happy right now with the cc I bought from him works perfectly
@DanielDumps on telegram he hooked me with some dumps and pin, with a nice rate and now am gonna get another one cos he was so good to and reliable man
I like this grammar nazi Graham.
Deeply happy I come across this trustworthy vendor is has been a second time of getting cc from him @PottMike on telegram much love have for you
I died when you said “I’m a hater cream”😂😂
Such a great video. People need more financial education!
@@MarkReese yes sir! Previously had a one card setup with Chase. Have been branching out to travel focused rewards since December 2020 I got the Amex platinum. I try to focus on keeper cards, eg. I probably won’t go for the CSR or CSP. But RN into low spend sign up bonuses for keeping work expenses separate from day to day.
I like your videos, keep teaching us. 😁
the ending with the sad song 😂😂 good video bro
Thanks Sandra for connecting me to Cardsteve on telegram I got my too just off recent it cool legit no he’s great💯
Yeah Graham these views are extremely interesting and fun to watch if I could recommend for a video I would recommend you making an office tour.
Honestly I think that people just hate on use for knowing how to use personal finance skills. Its not that hard, but some people would rather just hate. Keep doing you.
It’s I too can’t spell well.*
I love you man, this is actually just a comment for the algorithm
I 100% agree that borrowing money is always bad, but the exception is the case of having a credit card. I think it is definitely worth having it you can pay it off. You get the perks and own the bank when you do.
Credit card rewards & perks are definitely awesome! Have you opened any new cards lately? 😃💳
@@MarkReese I got Discover, Capital One, and Chase.
@@MarkReese thanks, I now got an American Express card
my all thanks goes to Therealdarkfullz on telegram he changed my life after being duped on this platform so many times he got my cards delivered to me with great balanced
Credit cards are a fantastic financial tool for people who don’t need a credit card.
Hi Kerry – credit cards are definitely a great tool! 😃👊 Do you use them to earn cash back or travel rewards?
Love when haters hate keep it up
Graham,that video was awesome.Put the idiots in their place. I love credit cards. My FICO is 834,but what do I know! 😁
I love this channel man!
Poor people should not get cc. I use cc for certain things only.
I personally love credit cards, but I _do not_ advocate for their use.
Credit Cards are fairly powerful in the right hands, and exceptionally dangerous in the wrong hands. And unfortunately, you have no reliable way of knowing which set of hands you’re actually dealing with when you pitch credit cards to another person.
It is therefore morally unacceptable in my book to pull others into the world of cards, but perfectly fine to discuss them and guide others who have ventured into this world of their own accord.
On the other hand, I’m no Dave Ramsey. It’s one thing to say you can’t trust yourself to use a card, but to equate card use with debt – and assume responsible users like us are somehow in debt we don’t know about – is insulting and foolish.
I can knot spell too
Too high garbage fees
I want meatball pizza
Credit cards 🙃 one way to get broke and another way to get rich kinda momentarily
@@MarkReese right now I’m on the dark side of credit cards :)) I don’t even have enough to buy myself a coffee o_0
@@MarkReese by that I mean debt, in financial speaking terms I borrowed more than I can payback and my investment are placed in high grow stock that doesn’t skyrocket yet sooo in a more slag terminology I’m fucked 🤣 don’t worry I’m not broken yet 🤦♂️
I stopped using credit cards had excellent rating etv but companies made errors so bye bye credit I don’t need it!
Growing up in a house of people who didn’t live within their means and seemed to be incapable of using credit cards responsibly left on me a terrible impression of credit and I can imagine some of peoples hate might just be coming from a similar situation. You’re information actually has spurred me to get a card.
@@MarkReese I’m looking around for a card currently, I’ve only looked through the options currently provided by Comerica bank, specifically looking at there Visa Secured Card. But ofc still just looking around, the way I use my money would perfectly fit with building credit concurrently without changing anything about my personal budget.
All the people who hate are just so uninformed
Pathetic you have to make a video on credit cards to idiots why have no idea about finances. You are extremely knowledgeable and your content has been very helpful. Hatters will hate. Most people trolling you have 500 credit score.
Hahaha! Hilarious, all those imbeciles!
I appreciate the grammar lecture too, people need to know the difference.