I'm in banking and REFUSE to use my debut card. My bf had his wallet stolen and guess what both debit cards approved purchases which over drew the accounts. They are refusing to credit the money but neither credit card had a problem refunding. Just saying when its your money the banks are slow to return.
@ruthwiseman4730
Жыл бұрын
Bought my house many years ago, the old-fashioned way, without having a credit card. Paid the house off early. I'm mortgage and debt free and retired early. I do have a credit card that I use occasionally. Especially for online purchases, but I pay it off immediately after making the purchase. Don't even wait for the monthly bill to get here.
@lissetsanchez5316
Жыл бұрын
This is exactly how my husband and I do it. We took FPU many years ago and although I agree with almost anything else. Not having a CC is not one of them.
@Youdontknowwhatliterallymeans
Жыл бұрын
I've been a fan of Dave for about a year and only got rid of my credit card a month or two ago, so I was hesitant. It felt odd for about 5 minutes and then I was fine. Just do it.
@sharondube1101
Жыл бұрын
Great information for people who are new to the debt free journey and also a good reminder for those of us who are still working the baby steps.
@cindygagliano5319
Жыл бұрын
I agree with everything except renting a car. Yes, you can rent a car, but you will either have to give them a cash deposit or if use a debit card, they will put a hold on money in your account until after you return the car. So yes, while it is possible, you may not be able to if you do not have enough cash on hand
@stevenporter863
Жыл бұрын
All are possible. It is also possible to walk from Seattle to Miami too. 😂
@Youtubeeadminnn
Жыл бұрын
hello there MSSG ME
@treidkr3
Жыл бұрын
I believe in a lot of the Ramsey principles but not using credit cards is where I disagree. If you can use them responsibility, they can be a great tool along your wealth building journey. I do think that if you can’t use them responsibility, then you shouldn’t at all.
@Youtubeeadminnn
Жыл бұрын
hello there MSSG ME
@rubyhaskell1325
Жыл бұрын
If you’re disciplined and pay off your credit cards before the end of the billing period then credit cards can be a great tool. We use our credit cards as debit cards, immediately make payments. We rack up cash/points that we use to fund Christmas or a trip. I agree it may not be for everyone but for those that are disciplined a good way to earn extra cash back.
@LaceyKeithbeauty
Жыл бұрын
I love this channel and Rachels advice but I completely agree with you! This is how I've always used my credit card and have never had any issues. Glad someone else feels this way too!
@MrJimmy3459
Жыл бұрын
Thats a ton of swiping to fund Christmas or a vacation, rewards on CC are miniscule at best.....
@martianwoodpecker
Жыл бұрын
Couldn't agree more. We treat our cc like any other monthly bills and pay them in full monthly. We save the rewards all year and they help offset Christmas gifts. But this is only advisable if you can pay off the cards fully each month.
@Youdontknowwhatliterallymeans
Жыл бұрын
@@tavari4498 You're more likely to spend more and You're supporting an exploitative business.
@Lee-Wood-DK
Жыл бұрын
But I doubt you are a millionaire😂 You are falling for exactly what they want
@CatherineCowley-x9i
Жыл бұрын
I take in $2500 net per month and have no debt. Working with cash, debit card and tracking every dollar spent by category is awesome. Spending only what I have and immediately paying for things really does make me want to keep cash instead of spending it. Wanting to hang on to bucks is psychological and it's working! Thank you.
@debrajean743
Жыл бұрын
Rachel you are so right about everything. Since me and my husband cut up all our credit cards and stopped making the banks rich, now we are the ones who are rich. And yes you can do everything with a debit card (we have two at two banks) that you can do with a credit card. Love you Rachel!!
@MR3DDev
Жыл бұрын
Or you can maybe have will control, pay credit cards in time, build a great credit score and enjoy the comforts of a credit score and a debt free life at the same time.
@tduck828
Жыл бұрын
Amen.
@greggsadler4387
Жыл бұрын
I only disagree about the great score. I don’t care about mine anymore. I use a card, against the Ramsey way, for rewards. I have had it for three years. No interest paid ever. Rewards every year. Paying off debt. Ahead of paying off a car loan (dumb move just before a recommitment to sanity). Ahead on my mortgage. Money in a retirement plan. I’m guessing we are in agreement mostly. My house will be paid off before I retire and we will most likely buy a house with cash since we’ll be downsizing. No credit score needed.
@MR3DDev
Жыл бұрын
@@greggsadler4387 My argument is a credit score makes certain things more convenient, is it necesary for life? not really. To me is just easier to have a good one. I got my car brand new last year with a very low interest thanks to my CS, paid it off in 6 months, boom debt free except for the house.
@lsnider59
Жыл бұрын
I have one card that is for my sinking funds, one bill paid off every month. Can't overspend since it is for my SF categories.
@Youtubeeadminnn
Жыл бұрын
hello there MSSG ME
@IA-py9by
Жыл бұрын
Don't blame the credit card...its the the responsibility of the user to use it responsible.
@katyedwards3935
Жыл бұрын
Responsibly not responsible
@stonecutter74
Жыл бұрын
Its the player not the game
@Youtubeeadminnn
Жыл бұрын
hello MSSG me.
@RebeccaKeepper.eXpRealtor417
Жыл бұрын
Good advice
@angalabudgets
Жыл бұрын
I would just pause or lock my card for 90 days. Closing the account and then reapplying will cause another inquiry on your credit report. Depending upon the length of time or history on the account once you close it may make your credit score drop.
@yhckelly
Жыл бұрын
Proudly declaring you don't have a credit over and over again is like the old man who gets personal satisfaction annoying everyone around him by refusing to do anything on the internet. You can participate in normal monetary methods of exchange and be absolutely financially sound, with perks to boot. CC's are free and beneficial for responsible people.
@stevenporter863
Жыл бұрын
Well said.
@Youtubeeadminnn
Жыл бұрын
hello there MSSG ME
@biffpenguin
Жыл бұрын
I cut up and closed my “just in case” credit card the other day. Getting serious on the Ramsey plan. 😊
@Youtubeeadminnn
Жыл бұрын
hello MSSG me
@RiSkyNick
Жыл бұрын
I'm just afraid of fraud and having dispute something....
@karlsmith2451
6 ай бұрын
Why, they are a fraud against you, did you know this?
@CompoundWealth4Life
Жыл бұрын
What if you pay the balance every time?
@Youtubeeadminnn
Жыл бұрын
hello there MSSG ME
@fatimamanneh9432
Жыл бұрын
I have been living without credit cards for the past 6 years she is right being debt free is everything
@pillay83
Жыл бұрын
But 😊 my credit card = an extra months advance salary to me, interest free, allowing me to use my income to invest + hustle with it, while my next salary kills all I owe on the card = zero balance + about 50% profits made off my salary. And my credit score is impressive?
@KingDreamIV
Жыл бұрын
Nothing new but it’s very practical and invaluable information that many people need a reminder of. These credit card companies are leeches. Thank you!!! Great job again Rachel 👏
@Youtubeeadminnn
Жыл бұрын
hello MSSG me..
@markg999
Жыл бұрын
I'll never use a debit card online for orders and at stores.....Always a cc and pay off end of the month. No issues in 20 years doing this...won't change. Rather have my cc hacked than my debt card and bank info.
@Youtubeeadminnn
Жыл бұрын
hello MSSG me
@desmondmatthews7880
Жыл бұрын
They say u need a credit card to build credit
@jeremyfield4148
Жыл бұрын
Banks should be able to transfer money within the same day which they are not. It takes 3 to 4 days and sometimes 5 days to transfer funds from a high yield savings account to a checking account for emergencies. Would love to hear comments on this if they are getting crafty to force emergency credit card use.
@karlsmith2451
6 ай бұрын
Keep some cash put up for yourself for emergency funds, or keep more in your savings & that it have accessed to your debit card so you can get to it quick.
@bradleyvanzile1111
Жыл бұрын
Credit cards are tricky financing and can be expensive! Only use a debit card
@mjharris5999
Жыл бұрын
What do you use if a credit card is required for ie: to book an airline or cruise? Thanks in advance.
@tiffanym8358
Жыл бұрын
MJ my husband and I just went to Nashville last month to do our debt free scream and a celebratory cruise. We booked the cruise, all airfare, car and hotel all with a debit card. Very freeing feeling😀
@lindashepard4621
Жыл бұрын
I would like to know which rental car companies. I have had no luck doing this.
@livritz101
Жыл бұрын
I honestly do not think a rental car company that rents off of debit cards exist. Many people have commented saying renting a car on a debit card is impossible. After doing some research rental car companies only rent via credit because they fear if you crash the car, you will not have enough money in your bank account to cover the repairs. Ramsey personalities all say you can rent a car or apartment without a credit score, but it is not true. None of them have ever provided video proof of them renting a car/apartment without credit, or even stated where this would be possible.
@lindashepard4621
Жыл бұрын
@@livritz101 a couple of years ago Dave struck a deal with Budget where his listeners could rent without a credit card but they let the deal lapse, I planned to use them but when it came time recently, the substitute was to furnish your credit score. I ended up Ubering everywhere I went. I also discussed a premium discrepancy with Geico vs a friend with same car, and they said the difference was in our credit scores. Manual underwriting isn’t going to work in my favor there.
@Youtubeeadminnn
Жыл бұрын
hello MSSG me
@alainpc23
Жыл бұрын
A rewards credit card is only good when you get value out of it. If you always carry over a balance and/or pay a humongous amount interest each month then this ain't for you so best you just use a debit card. Yes, a credit card is a double-bladed sword so it can hurt you (financially and emotionally) if you have no idea how to use it properly.
@Youtubeeadminnn
Жыл бұрын
hello MSSG me
@GeorgiaPkmn
Жыл бұрын
Yet a few weeks ago Rachel said she has a Target Red card to save money
@The_local_gal
Жыл бұрын
Target Debit card; it takes the money right out of your bank account and you still save 5%.
@lindseye2750
Жыл бұрын
Target has a debit card option, links to your bank account. That’s what I have!
@lmor7110
Жыл бұрын
Credit cards are for the working poor, until they can’t afford to get out… I want to be rich!!! ‘Painful’ snowball budget today, for a better future in retirement.
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