I peaked at a video short of him complaining about credit cards. He was especially cutting up Bank Of America credit cards. I don't have a problem hating on a specific bank, nor their terms: but, you can hate on the credit card itself.

Nothing wrong with having a credit card. The problem is most people have never been taught financial responsibilty. The same people who call in your show. The same people who I see in someone's other videos owning a car that's underwater and trying to trade up to another car out of their league. The same people who haven't paid for last year's Christmas presents, that now just added more debt to that.

I have credit cards. I have both personal cards, company cards, and pre-paid cards/accounts. I pay my credit cards off. I turn in my business expenses. I am generally responsible when it comes to finances.

Historically speaking, credit was based on the character of the man, the individual and his ability to pay it back.
What was his collateral, what could he offer in exchange?
That was how it really worked back in the day. My great grandparents were immigrants, there were no handouts, no loans.
If you wanted to eat, you worked, or you headed West and settled some land, but it was up to you to feed yourself.

Then in my Grandparents era, you struggled together if you wanted a family, there was a lot of domestic work available, men had plenty of options as well, but there was no credit for the working guy. That was a creation of the money makers. he Banksters, those holding leans, those looking for indentured servitude since they outlawed slavery.
But that was only the beginning, the corporate slime had even bigger visions that entailed brainwashing the masses.

Yes, so called 'Higher Learning", universities, but to convince parents of the Boomers, they need to buy the lie that a higher education would make their offspring wealthy, wealth they will pass along as the parents retire, insuring the parents a golden retirement.
So what did these corporate scum do? They eliminated the 8th grade degree, claimed High School was now needed, but high school was only useful if y0ou were going to college, which was exactly the plan.
S they pretty much made it mandatory that at least a high school education was necessary if you wanted a civil service job or a corporate entry point.

Starting to see the bigger picture yet? Remember when boomers used to say, "My Kid Is Going To College", just how proud they were, as if some kind of achievement had just occurred, when in truth, they were buying the lie of credit by being forced to take out loans so their kid could find his place in the rat race.

The corporate entity made it nearly impossible to function in todays society unless you indentured yourself to the almighty "Credit Card". Don't wait, you can have it all tomorrow if you just sign the slavery contract today.
Yes, this is our new reality, no more sacrifices, have it all, just like the Jones next door, but they're in the same rut as you, they are up to their eyes in debt, even more than you because they had to have a new pool and another story on the house.

So before you sign that debt/slavery line, think of your alternatives. Get the Hell out of the city rat race, quit paying exorbitant rents to own nothing, start new and chase your dream, money isn't everything, the quality of life is far better than being a paid slave.

Myself? I found raw land, I developed it alone with the dream of one day of having a family, but my dream had a flaw, back then, women were chasing the malls, they were trying to impress one another, though I believe that is starting to change as well because women are waking to the lie they were sold.
But I won't go there, like I said, I thought there were good women everywhere, but buying raw land in the wilderness is not every woman's dream, so no kids for me.
But by God, with the help of God, I found peace, zero stress, no bills and peace of mind knowing I didn't hurt anyone along the way.

It's not for everyone, but is is an option if you want to avoid the rat race. But you have to face the fact that you either value freedom, or are you fine with being a follower?
Sorry so long winded, but credit is a lave contract, because it affords you a lifestyle you really can't afford.

Quote from: Sick Of Silence on December 28, 2024, 11:51:48 AMI peaked at a video short of him complaining about credit cards. He was especially cutting up Bank Of America credit cards. I don't have a problem hating on a specific bank, nor their terms: but, you can hate on the credit card itself.

Nothing wrong with having a credit card. The problem is most people have never been taught financial responsibilty. The same people who call in your show. The same people who I see in someone's other videos owning a car that's underwater and trying to trade up to another car out of their league. The same people who haven't paid for last year's Christmas presents, that now just added more debt to that.

I have credit cards. I have both personal cards, company cards, and pre-paid cards/accounts. I pay my credit cards off. I turn in my business expenses. I am generally responsible when it comes to finances.

Credit cards are like so much in our society. They are not good or bad. How they are used is the culprit, or assistant. Like you, I have two Visa a cards. One is a leftover from when I traveled and had to turn in expense accounts. I find it convenient to put daily expenses, like groceries, etc; on a card. Then I just have one payment a month. I have no idea the interest rate on either card as I pay both in full each month. Therefore, they are a benefit for me.

I have a Visa that I pretty much buy everything on. Pay it off every other week so no interest. This one pays cash back on most of what I buy, amounts to six to eight hundred a year. Since businesses are charged around three % when a customer uses a credit card, I don't use them in the small town stores such as the feed store. I really like them when I have to fill up, pay at the pump means I won't have to stand behind some yahoo inside the store who can't decide which scratch off he wants.

Quote from: Possum on December 29, 2024, 05:22:48 AMI have a Visa that I pretty much buy everything on. Pay it off every other week so no interest. This one pays cash back on most of what I buy, amounts to six to eight hundred a year. Since businesses are charged around three % when a customer uses a credit card, I don't use them in the small town stores such as the feed store. I really like them when I have to fill up, pay at the pump means I won't have to stand behind some yahoo inside the store who can't decide which scratch off he wants.

Although that is a different discussion, it is something else we need to stop wasting money on. It is a stepping stone to gambling.

Besides, as far as I noticed, I though those things were all sold by vending machines.

Quote from: Sick Of Silence on December 29, 2024, 06:05:28 AMAlthough that is a different discussion, it is something else we need to stop wasting money on. It is a stepping stone to gambling.

Besides, as far as I noticed, I though those things were all sold by vending machines.

Many of the convenience stores still have them under the counter by the register. At least the last time I was in one, several years ago. I stop for diesel, or gas if I am in my wife's car, and really have no need to go in. Before pay at the pump, I didn't have a credit card. And of course on line shopping, have one for that with a low limit. A big disadvantage to living out in the sticks, a lot of what you need isn't sold near by, especially parts. 

Quote from: supsalemgr on December 29, 2024, 05:00:51 AMCredit cards are like so much in our society. They are not good or bad. How they are used is the culprit, or assistant. Like you, I have two Visa a cards. One is a leftover from when I traveled and had to turn in expense accounts. I find it convenient to put daily expenses, like groceries, etc; on a card. Then I just have one payment a month. I have no idea the interest rate on either card as I pay both in full each month. Therefore, they are a benefit for me.

Pretty much the same here. 95% of what I purchase is on one or more credit cards, but EACH one is paid in full every billing period.  Its a convenience for me as I live 20 minutes away from the nearest bank or atm that does not charge me a withdrawal fee... Have also seen some businesses that are going to credit/debit card only.

Quote from: VVet69 on December 29, 2024, 09:33:24 AMPretty much the same here. 95% of what I purchase is on one or more credit cards, but EACH one is paid in full every billing period.  Its a convenience for me as I live 20 minutes away from the nearest bank or atm that does not charge me a withdrawal fee... Have also seen some businesses that are going to credit/debit card only.

They need to boycotted!

Quote from: Solar on December 29, 2024, 11:25:34 AMThey need to boycotted!

From what I have read the amount the card companies charge businesses is outrageous. Consequently, it costs the consumers more as the businesses are certainly increasing their prices to cover the card charges to us.

Quote from: supsalemgr on December 29, 2024, 12:15:09 PMFrom what I have read the amount the card companies charge businesses is outrageous. Consequently, it costs the consumers more as the businesses are certainly increasing their prices to cover the card charges to us.

Bingo! That and they want to force us to go cashless.
I always pay with cash, with the exception of diesel, I can't just run in the store anymore like I used to, so I use my debit.
I haven't had a credit card since the 70s, Hell, I tried looking up my credit score, and they had no record of me being alive.

On a side note, the 25 yro next door was so proud when he got his first credit card, of course I warned him of all the dangers, percentages, drawing cash, etc.
Within 3 months, it was maxed out, but he was relieved when they said he could double his limit at 21% interest rate, yeah, he took it and maxed it out again.
But he said he makes payments every month.

Quote from: Solar on December 29, 2024, 01:26:11 PMBingo! That and they want to force us to go cashless.
I always pay with cash, with the exception of diesel, I can't just run in the store anymore like I used to, so I use my debit.
I haven't had a credit card since the 70s, Hell, I tried looking up my credit score, and they had no record of me being alive.

On a side note, the 25 yro next door was so proud when he got his first credit card, of course I warned him of all the dangers, percentages, drawing cash, etc.
Within 3 months, it was maxed out, but he was relieved when they said he could double his limit at 21% interest rate, yeah, he took it and maxed it out again.
But he said he makes payments every month.

Has he paid it off yet?

 

Quote from: Sick Of Silence on January 20, 2025, 10:10:48 AMHas he paid it off yet?

 

       
Oh Hell no! He'll be paying down the interest rate alone for years. He's an idiot, he doesn't understand how these cards work.

The more and more I watch his video shorts, the more I can see he isn't that all knowing.

Anyone of us can tell people to be cautious when it comes to money, and we don't need a show to do it. It's common sense. You don't need to ask him if you can buy a $35K car when you earn 250K a year, and have 750K in assets.

But, knowledge he doesn't have is whether you should spend $35K on a seven year old Mercedes. Most new cars are between $30K and $40K. Might be better off with a new car, with a factory warranty. Perhaps a two or three year old one with low miles that still has a factory warranty.

Also, there is nothing wrong with using a credit card, paying it off at the end of the month, and getting a little bit of rewards. You just have to be disciplined. Of course, there will be times when you have a major expense. You pay it off within two to three months at the most.

I agree with the mother: have the kids live at home and go to a local college/university. If they have to go to school, save some money in the process (whether it is the parents, or a loan).

Quote from: Possum on December 29, 2024, 05:22:48 AMI have a Visa that I pretty much buy everything on. Pay it off every other week so no interest. This one pays cash back on most of what I buy, amounts to six to eight hundred a year. Since businesses are charged around three % when a customer uses a credit card, I don't use them in the small town stores such as the feed store. I really like them when I have to fill up, pay at the pump means I won't have to stand behind some yahoo inside the store who can't decide which scratch off he wants.

Same here. I have 5 credit cards, each with their own rewards benefits. I pay them all off each month, so I have no idea what the interest rates are. I use them for the points and protection.

Quote from: Sick Of Silence on March 06, 2025, 08:07:26 AMThe more and more I watch his video shorts, the more I can see he isn't that all knowing.

Anyone of us can tell people to be cautious when it comes to money, and we don't need a show to do it. It's common sense. You don't need to ask him if you can buy a $35K car when you earn 250K a year, and have 750K in assets.

But, knowledge he doesn't have is whether you should spend $35K on a seven year old Mercedes. Most new cars are between $30K and $40K. Might be better off with a new car, with a factory warranty. Perhaps a two or three year old one with low miles that still has a factory warranty.

Also, there is nothing wrong with using a credit card, paying it off at the end of the month, and getting a little bit of rewards. You just have to be disciplined. Of course, there will be times when you have a major expense. You pay it off within two to three months at the most.

I agree with the mother: have the kids live at home and go to a local college/university. If they have to go to school, save some money in the process (whether it is the parents, or a loan).

Ramsey is a clown. I'm a Clark Howard disciple.