GO CHECK YOUR DEBIT CARDS NOW!!

[Bubba T]

This isn’t about income levels.

If you treat your credit card like a debit card, you’re in the same position with additional benefits

It isn't about income levels. It's about mindset.

The reason why credit card debt is the second highest consumer debt in the US is because not enough people have the mindset and/or ability to pay their balances in full every month. Some people do not trust themselves when it comes to spending so they will charge anything and justify it by telling themselves they'll pay it later. Generally speaking, people check their bank accounts more closely than their credit card statement and manage their accounts that way. Because of these reasons I cannot fault a person who still uses debit cards. Like you said, it takes discipline to responsibly use credit cards, and not everyone is responsible with their finances.

 

[Striving For Greatness]

I used to work for a bank, seeing this kinda shyt everyday but the crazy thing is I’ve been using debit, credit, PayPal, etc for a long time and nothing EVER happened with my money. Between bank transactions, people somehow not knowing if a shopping website is reputable or not, and people still clicking phishing links in 2021, I think most of this shyt be the person’s own fault…

Im not against any forms of payments. The credit card perks are great but op problem is being negligent

I caught grubhub falsely charging my account a few days ago. I cancelled my subscription last year and haven’t used them since. The supervisor tried to sass me in the support chat but I got my money back

 

[NaijaProdigy Redux]

It isn't about income levels. It's about mindset.

The reason why credit card debt is the second highest consumer debt in the US is because not enough people have the mindset and/or ability to pay their balances in full every month. Some people do not trust themselves when it comes to spending so they will charge anything and justify it by telling themselves they'll pay it later. Generally speaking, people check their bank accounts more closely than their credit card statement and manage their accounts that way. Because of these reasons I cannot fault a person who still uses debit cards. Like you said, it takes discipline to responsibly use credit cards, and not everyone is responsible with their finances.

I agree with you.

I just think it’s unfortunate that financial literacy is not more institutionalized, because the dirty secret is that a vast majority of wealth is built off “free” credit

 

[bnew]

Why are you all using debit cards?

there are privacy concerns, since credit card companies sell your transaction data.


Identifying Credit Card Users With a Few Bits of Data

How data brokers find and sell your personal info

Here are the data brokers quietly buying and selling your personal information

Why Don’t We Have More Privacy When We Use A Credit Card?

from 2012
How Target Figured Out A Teen Girl Was Pregnant Before Her Father Did

 

[invincible1914]

thecoli.com


Where using a debit card in 2021 is like using a checkbook.


Where you shouldn’t go to college.

where you shouldn’t vote.

where Lil baby is trash.

where MLK & Obama are c00ns.


These are things I’ve only heard on this dumb ass site

I’m sorry man, but you are wrong. I know that you won’t admit to it since that’s how it goes online. But using a debit card now is like sex with no protection. I don’t know what else to tell you.

No financial advisor will back you up on this.

Also, I’ve never in my life said any of the things you posted. So you get out of here with “the coli y’all” talk.

 

[RehReh]

I have never had a credit card
My only debt is student loan

Should I take the leap of faith they keep saying I'm eligible?

 

[invincible1914]

It isn't about income levels. It's about mindset.

The reason why credit card debt is the second highest consumer debt in the US is because not enough people have the mindset and/or ability to pay their balances in full every month. Some people do not trust themselves when it comes to spending so they will charge anything and justify it by telling themselves they'll pay it later. Generally speaking, people check their bank accounts more closely than their credit card statement and manage their accounts that way. Because of these reasons I cannot fault a person who still uses debit cards. Like you said, it takes discipline to responsibly use credit cards, and not everyone is responsible with their finances.

I set my alarm every Friday before work to wake up and zero out my credit card balance. That’s really the only change I made I still spend the same, but just checking the balance all the time is what helped me the most.

And I still blow money on stupid stuff. Then I look at the balance like pack it back up and return it.

 

[BaldingSoHard]

Debit cards?

The fukk?

Who still using debit cards?

 

[WaveWhisperer]

Used a debit card all my life until just last week


I want that american express platinum thang my lil bro got

 

[Bubba T]

So what’s the correct advice?

We live in a country where most people are obese… are dieticians just supposed to accept that most people aren’t going to stop eating unhealthy and don’t want to get out and exercise?

Edit: I have always thought like y’all thinking but I was hurting myself. Once you get caught up in the overdrafts it’s too stressful cause you looking at that looming zero balance. Wife be like “Hey let’s go out to eat” and you’re like in your soul.

Once those rewards stack up, you can feast on that. My BIL, get use his credit card for work and pay it back with the reimbursement. Him and his wife stay in Ruth Chris using nothing but gift card from reward points.

I address this in my quote below.

It isn't about income levels. It's about mindset.

The reason why credit card debt is the second highest consumer debt in the US is because not enough people have the mindset and/or ability to pay their balances in full every month. Some people do not trust themselves when it comes to spending so they will charge anything and justify it by telling themselves they'll pay it later. Generally speaking, people check their bank accounts more closely than their credit card statement and manage their accounts that way. Because of these reasons I cannot fault a person who still uses debit cards. Like you said, it takes discipline to responsibly use credit cards, and not everyone is responsible with their finances.

I don't disagree with you that credit cards being more beneficial than debit cards to the prudent person. But again, not every person is disciplined enough to faithfully pay off their credit card balances. After all, we live in a consumerist society which is funneled by easy credit. Those who can't or don't trust themselves to overspend and/or pay off their balances shouldn't be using credit cards.

 

[Cowboyz89]

I would never use a debit card for anything other than an ATM.

I dont even keep it on me most of the time.

 

[Diondon]

Swiping a debit card ever single place you go is asking for unnecessary problems if you ask me.
Hacking, fraud and shyt.
If it just a bullshyt account with fukk around money maybe you risk it.
But your major account, nah.
And you gotta be diligent with account reconciliation

 

[AggiePride336.]

Privilege
That African American class divide keeps getting more obvious by the day

Yep, and it’s shining bright in this thread. That out of touch song just keeps playing in my head

 

[Goat poster]

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.

I can’t believe this even has to be explained.

There’s absolutely no reason to use a debit card unless you are pulling cash out of your checking.

Using it for day to day purchases as opposed to a credit card leaves money / rewards on the table.

I don’t know a single person who uses a debit card

Knock it OFF

Credit Cards are HORRIBLE for most people.

Some are even predatory.

ive seen CC debt RUIN peoples credit.

 

[bnew]

Privilege
That African American class divide keeps getting more obvious by the day

actually having a debit card is a privilege.

14 million American adults don't have a bank account. They're still waiting for a stimulus payment.

snippet:

Nearly 17% of black households were unbanked that year, as were 14% of Hispanic households and more than 20% of those making under $15,000 per year.

a secured credit card can be had for as little as $100.