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Why Americans are Hooked on Credit Cards

Modern MBA 268 views

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I NEVER pay any interests
Comment from : @Leumasleumas725

'I do it only for the points, and always pay my balance' is the stripper that's working their way through school Sure, it's possible, but not the norm
Comment from : @LukePendergrass

You can blame the Dodd-Frank Act of 2010 It totally nerfed debit card rewards As a result many people now use credit cards as a pseudo debit card If you don't use credit cards you are effectively paying higher prices because of the interchange fees Dave Ramsey is wrong about credit cards His advice was wise 20 years ago but is now outdated
Comment from : @TravelLoverForLife

Is great true
Comment from : @ChristianRoseroF

And faked bill and lost bills endanger financial market more than recession
Comment from : @TriPham-j3b

So many agents got trapped oversea because of credit cardneed rescue before they goes into slavery
Comment from : @TriPham-j3b

The best thing to do is use your credit card like a debit card Actively use it, but do not purchase anything that you can't IMMEDIATELY pay off
Comment from : @RooRoove

A person in debt is the modern day slave, a credit score is the modern day chain and collar That's the main reason why wealthy folk and the government love debt so much "Debt is good for the country and the economy" means slaves are easier to control and exploit
Comment from : @zackjacob2592

I use two credit cards One for spending, both for cash out (banks allow to take some without any fees or interest) to deposit them and profit from bank money and my money I'd spend earlier without credit card 60 days with current interest rates in my country is no joke That also makes being unable to pay in time unlikely
Comment from : @mytiliss682

Change the law to allow interest to be charged on loans only by non-profits and cap it at 5brbrWatch many, many problems not just financial disappear
Comment from : @Immortal

Why is hsbc so high
Comment from : @G-sr2bs

Credit cards are great and I love them but use them like you would cash
Comment from : @TheRealMinuteMarket

Personally, I would love to tell you The Truth from The Holy Bible about what is going on However, I politely encourage you to read it for yourselves By The Way, check out Truthunedited and Stephan Darby's sermons to get a deeper understanding for The Life May YAH bless you, your families, and HALLELUYAH!
Comment from : @dugproductions2556

People need to learn to live within their means
Comment from : @Squirrel9777

Sowe have universitiesto teach this sneaky shit
Comment from : @RichardCorongiu

Watching Dave Ramsey videos it's amazing hearing how over their heads people get w/Credit cards and debt
Comment from : @jumpingjeffflash9946

Great video!
Comment from : @Phantastikal

So… the common man is money laundering for elitist establishments And now they’ve been doing it for so long, by fine print, they still actually own nothingbrbrEveryone deserves exactly what they’re about to get
Comment from : @AnnaB-ze7cw

I only paid $5 in interest these few years in total Usually because i accidentally slightly paid more than my auto pay budget
Comment from : @Ultravenom1

The more points I earned from using my CC the more my credit score would go down because credit usage was up It wasn't much but a few points at a time usually I don't really care about points anymore I just accumulate through ordinary spending
Comment from : @johnh4863

Why Visa decided to name themselves after the travel visa is plain confounding
Comment from : @sutats

I just wanted to say that ad read for Nord Pass was great Didn't even notice till the end
Comment from : @leosavain00

We need to be able to use what we have and stop buying stuff
Comment from : @CountryRoad2006

I'm so glad that here in the NL creditcards aren't really a thing
Comment from : @knarfxd4071

20:03 I wonder how much the airline and credit card relationship related to the stupid pricing compared to Europe
Comment from : @3_character_minimum

Thought I watched an ad lmao
Comment from : @derekleung5475

Man do I hate how YouTubers slide ads into educational videos
Comment from : @tangyorange6509

Chris Rock once said "Crack dealers don't sell crack Crack sells itself Crack dealers just make crack available"brbrThe same is true of banks and the ability to put oneself into crippling debt for trinketsbrbrAs for shifting away from materialism, yeah, good luck with that I think plenty of people could live without plenty of useless material junkif dating wasn't a thing
Comment from : @SimuLord

Not impressed with the slow burn ad play Make it explicit, I don’t care about a password manager, I care about CC history
Comment from : @Mesoon-hs9pc

A sad addicted nation to credit cards but also drugs and money!
Comment from : @tdtdtd1826

Yes😂😂😂
Comment from : @turtleanton6539

Honestly, no point in not using at least a cash back credit card All merchants already upcharge by 25 cause of the credit card fees they have to pay, so if you don't get any cash back, you are just skimping yourself out But as always, never carry a balance
Comment from : @rebeltheharem7028

And they got younger people to believe “I can use credit cards to leverage and build wealth” 😆
Comment from : @wyattbenson1490

least suspect MBA ad intro 😂
Comment from : @pewdiepiebro35

Many did not fall for the scam, but there's a sucker born every minute, but since no one reads anymore they can't relate to the quote
Comment from : @0megaman-d8q

I just don’t understand rewards cards Are people really holding a particular card for hotels, another for airfare, Amazon card, Target card, Gap card, another two cards for gas? Forget it One card Give me 1 cash back and never talk to me again
Comment from : @Anonsense-w5g

To this day my brother still pesters me about getting a card says its no problem as long as you pay it off on time But to me thats a slippery slope and i never liked the idea of having what is really just a plastic iou card
Comment from : @MrMMitchell

So in other words we are debt slaves
Comment from : @Rich290Radio

Are you also the Punk Rock MBA
Comment from : @Kyeuss

I wouldn’t say American Express is behind, they actually make more money than the other two They just want their cards to be seen as a status symbol
Comment from : @blackfalcon1324

I live close to the Mexico border I always go for kislux , their quality is great Some of them are made with leather and really hard to tell the difference from real or not Either way, itâ s your choice No judgement from me
Comment from : @annaleykiste

I looked at a lot of backpacks before deciding to kislux their bag I'm so glad I did This is a beautiful backpack that looks well made I bought it for an upcoming trip and am so excited to have it It only took a few days to get here, so the shipping was fast I highly recommend it and will buy again It also makes a great gift
Comment from : @bottorffambrosino

Bruh, I just got a credit card Ad 😹
Comment from : @Bailbruke

Living a minimalist life and avoiding credit cards entirely has kept me out of a world of trouble I just don't want the hassle or threat of derailing my budget
Comment from : @Mysticbladegod

Just don’t use credit cards problem solved
Comment from : @CaramelCraft

Getting an American Express ad on this video is objectively hilarious
Comment from : @ShotMechanics

Why don't they teach this in highschool?
Comment from : @loganhorne4310

Always blaming anything or anybody but yourself Nobody holds a gun to your head to get a credit card You use it You are responsible for its balance
Comment from : @adiposerex5150

There is good debt and bad debt brCredit cards are bad debt
Comment from : @ArcGlowingVision

I have a bachelors in Finance and work in the industry Jesus christ the more I learn about capitalism, the more I realize that the general public really is being controlled by the 001
Comment from : @swagmassa6702

You know whats better than a password manager?brbrbrA literal notebook
Comment from : @haydencrawford8552

You can be addicted and enjoy the hobby but spend responsibly and pay in full monthly no exception Credit is not a second income or a loan it is a tool and offers some rewards while doing so use common sense
Comment from : @shawncredit

You can afford anything you are willing to be in debt for
Comment from : @TheloniousBird

I have an amex and I'm not rich at all Never paid late tho
Comment from : @MrBoxofplastic

I hate that people call it the Great Recession
Comment from : @ScarredBert

I have no credit or debit card for years, and I'm still alive
Comment from : @lorenciandrej

Wow, as someone with severe ADHD, I can't believe I watched the whole thing without pausing Great stuff
Comment from : @luisl8851

Not to mention Credit Scores We’re conditioned to continually hold lines of credit in order to keep up our credit ratings in return for more favourable lending rates when purchasing that mortgage or buying that car If one isn’t careful, having to continuously use a credit card can desensitise one from the dangers of it
Comment from : @itsble

Credit card companies acting as a “market maker” is actually very valuable
Comment from : @Football__Junkie

Always blaming companies but not the people who should be taking personal responsibility It’s such a lonely life being an actual adult surrounded by overgrown children
Comment from : @mackeejack6731

I actually make on average $800 by using my credit cards as if it’s a debit card Only a broke loser would pay interest
Comment from : @vincetaylor3948

Maybe pay a fair wage and people won’t have to use a credit card to pay for their average life
Comment from : @1783W

In NYC a lot of restaurants are cash only, or charge less if you pay cash over card Sometimes for gas stations too
Comment from : @Dr4g0nZzZDr4g0nZzZ

I like having my own credit card but i really only use it as a debit card to get points
Comment from : @alexklonowski9301

Thats why their young people dont work Just sit at home and order yourself a credit card when you turn 18 Now i understand why that country consumes alot They focus more on the haves now now now now
Comment from : @etaokha4164

They didn't, stupid people did that to themselves Stop dodging accountability for them
Comment from : @nb6525

Visa and MC, Discover and Amex should have bailout their customers during pandemic It’s not too late😂
Comment from : @SFCaliofUSA

An economics video, about youtube content creation would be pretty cool
Comment from : @UmbrellaArmory

Don't spend money you don't have and if you have to finance it you can't afford it, it's that goddamn simple
Comment from : @coleshredzz

Modern MBA versus ColdFusion vs Polymatter - Polymatter came out with a similar video earlier
Comment from : @huskerfly9390

Consumerism is part of the Capitalism game; you’re just a cog in that machine but you can take control of your own personal spending…
Comment from : @easychang4261

Total suckers enjoy your debt misery buying absolute crap you think is important!
Comment from : @gregdean8441

What's in my wallet?brMoney
Comment from : @Der8cho

When your first ad before this video starts is a Discover card commercial
Comment from : @SpcyYt

I hate credit cards personally I knew that the big banks and CEOs were making money off them so I avoid them I have one card simply for the score (because a credit score is mandatory for some reason in the US) I use it for like basics (groceries or gas) and that's it I pay it all off every month, and have no interest or debt Pretty simple if you're aware of how you can avoid giving them a bunch of money
Comment from : @stephaniec3022

meaningless bla-bla-bla-bla-bla
Comment from : @kodermail

I'm 41 years old and never had a credit cardand I plan on not getting oneI ain't stupid
Comment from : @jayjay-iu3wc

Trump will demand low interest rates from the Federal Reserve while his tariffs drive inflation higher: a recipe for 1970s levels of inflation While bad for the 99, it's extremely profitable for credit card companies
Comment from : @patcrow_gawker5494