In this video, we look at the credit card vs debit card argument and whether you should consider using a credit card or a debit card for most of your spending. The use of credit cards has become more and more frequent among many people over the past few years while the use of debit cards as remained flat and the use of cash has declined. While some financial experts like Dave Ramsey argue that credit cards should never be used, here I talk about a few reasons why I disagree with this.
The credit card vs debit card debate starts with the fact that many people who use credit cards can find themselves in credit card debt that costs a lot in interest. This may be due to either relying too much on future income to make a credit card payment or because of overspending or other reasons. But if we can keep our credit card usage in check and treat our credit cards like debit cards or cash, then with a smart budget, I think that many people can use credit cards successfully to take advantage of their benefits.
Some of these credit card benefits include purchase protection, extended warranty protection, as well as the ability to earn credit card points or cash back, and a few other things as well! All of the information in this video should serve as a good guide for when to use a credit card, debit card, or cash.
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6 Hidden Credit Card Benefits | Take Advantage of THESE!: https://www.youtube.com/watch?v=nRPFa8rQAkc
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DISCLAIMER: I am not a financial advisor and the opinions in this video are my own. This video is for entertainment and educational purposes only, it is not financial advice. You must do your own research and should talk to professionals before making any financial decisions for yourself.
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