GO CHECK YOUR DEBIT CARDS NOW!!

[Sterling Archer]

STOP USING DEBIT CARDS!!

How many times do we have to say this


Use a credit card… purchase shyt with the institution’s money, if there’s an issue, have them figure it out, pay the balance in full each month.

They dont listen. Thecoli told us we were brokeboyz when we said, it makes no sense to use your debit card when you get points and protection with your credit cards. Let these nikkas get scammed to Bolivia

 

[fifth column]

It’s not borrowed money until it accrues interest. You get a 28 day grace period after the statement posts (basically 2 months at the most) to pay it off. None of it matters if you keep a zero balance. Just use the credit card the same way you use a debit. At least once a week pay it off with the same bank account that you would have used for the debit card. It’s the same thing, but with the benefits that come with a credit card.

My credit score has jumped up 111 points since I’ve been doing this.

this is asking majority of credit card holders to be disciplined so while your advise is practical it’s not based on reality. Most people are going to accrue interest on their credit card, that’s the reason why credit card companies exist.

 

[fifth column]

They dont listen. Thecoli told us we were brokeboyz when we said, it makes no sense to use your debit card when you get points and protection with your credit cards. Let these nikkas get scammed to Bolivia

You can charge your debit card as credit and get cash back rewards though so no real advantage there

 

[old pig]

I really don't get why this concept is so hard for them to grasp

it’s not but folks will argue tooth and nail to justify what they’re limited to

 

[Allen Poe]

You can charge your debit card as credit and get cash back rewards though so no real advantage there

The vast majority of debit cards don't have any cashback rewards system attached to them when used as credit, and the ones that do typically pale in comparison to some of the better rewards/cashback credit cards.

 

[The Solid One]

Dudes in here saying they use a credit card for 99% of their purchases

I’ve heard it all now

And you wonder why this country is in debt.

 

[ultraflexed]

STOP USING DEBIT CARDS!!

How many times do we have to say this


Use a credit card… purchase shyt with the institution’s money, if there’s an issue, have them figure it out, pay the balance in full each month.

This.

 

[invincible1914]

this is asking majority of credit card holders to be disciplined so while your advise is practical it’s not based on reality. Most people are going to accrue interest on their credit card, that’s the reason why credit card companies exist.

Everybody keeps saying most people like I’m trying to be Dave Ramsey in here or some shyt. I’m talking bout what I do. This is my preferred way to manage spending.

I’m not disciplined or anything. I picked up on it through reading online, and it’s very practical and easy. It’s not even hard. Just the extra step of paying the card yourself instead of letting it pull from your bank account.

It’s just not what people consider “normal”, so instead of having an open mind they trash the idea.

Truth is it is better. You are using your money to make money. But I guess we are still stuck on that all “credit cards and all credit card usage leads to massive debt” mindset in here. To each their own.

 

[Sterling Archer]

You can charge your debit card as credit and get cash back rewards though so no real advantage there

Most debit cards have inferior rewards in both amount and options than credit cards. And selecting the credit option instead of debit at the POS doesnt change the type of account it is. It changes no benefits to the account holder. It doesnt make it a credit transaction and doesnt protect your money any differently unfortunately. Its still a direct transaction with your personal bank.

 

[Still Benefited]

If a person can’t treat his or her credit card like a debit card in practice (i.e. don’t spend more than you can afford and pay off your balance every month so you don’t accrue interest), he or she needs better financial discipline

I’ve never rolled a card balance to the next month.

Not every ones credit limit is the same though. Credit card utilization can negatively effect your credit

 

[invincible1914]

Letting companies dip into your bank account just seem crazy to me.

I remember a while back a overdrew my account with a check at this grocery store. The check didn’t go through. And I got charged an overdraft. I went to the bank to see what happened an old charge finally went through that I forgot about. Ok Let me zero it out and I thought I was good until I got paid.

The grocery store kept trying and trying to pull the check which I was sure I covered but with each try it charged an overdraft. So all I paid for was overdrafts. My account went down to $-540 cause of overdrafts.

I went back to the bank like what happened. Then the same guy was like you could have put some kind of ach protection to stop the same charge from reoccurring. “Why didn’t you tell me I could do that the first time.” He didn’t care. I walked away broke as hell.

I never got the money back or the charges reversed. And I wasn’t paying that either, so after that I could only bank out of Walmart. I had to build myself up from using the Walmart bank and green dot money cards

I will never leave my money exposed like that again. One reason I only use credit is because it protects my bank account and I can decide when money comes out or not.

 

[fifth column]

The vast majority of debit cards don't have any cashback rewards system attached to them when used as credit, and the ones that do typically pale in comparison to some of the better rewards/cashback credit cards.

The major ones like chase and Bank of America do

 

[Bboystyle]

I never thought of the whole not using debit card routine. I have 5 credit cards and use them every month on shyt like gas and food. But sometimes i still use my debit card to not utilize my credit cards more then 30% of its balance.

Come to think of it, with all my monthly spending, i should easily maintain that 30% without touching my debit card

 

[J.E.T.S]

Coli Financial Advisers, LLC

 

[Professor Emeritus]

what type of world do you nikkas live in where y’all expect people to stop using debit cards

some of y’all say the dumbest shyt sometimes

Telling people to always borrow money IOT never use a debit card is awful financial advice.

I've seen this before here and sometimes I wonder how these people think credit card companies make so much fukking money.



It's especially funny how they in here talking about credit card rewards as if they're just benevolent charity for their users.