Why Dave Ramsey Is WRONG About Credit Cards

Dave Ramsey is WRONG about credit cards.

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I agree with a lot of Dave’s principles and philosophies regarding personal finance. Credit cards are not one of them!

Credit cards offer many benefits when used properly. If you are financially responsible, then credit cards are a great way to receive perks and bonuses on things that you already spend money on anyway.

Learn more about my favorite credit cards here:

Credit cards mitigate a lot of risks that would otherwise come with using cash or a debit card.

Watch the entire video and let’s tag Dave Ramsey in this video to see if he responds! I’m a big fan of Dave’s 🙂

Learn more about the card mentioned in this video here:





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  1. Marko - WhiteBoard Finance

    Edit: I've seen multiple comments along the lines of "It's the credit card company's fault that people are in debt". Just like it's the soda and fast food industry's fault that you're out of shape, right? When did personal responsibility stop being a thing? Have a good weekend everybody!

  2. I use my double cash back credit card to pay for everything, and pay off the balance every week. I love my free money!! Pays more than the interest on my savings account!

  3. Dave's take on credit cards are very simplistic, but appropriate for his typical listeners. People with the financial sophistication to manage credit cards wisely don't need Dave anyway.

  4. Dave is a con, his advice is for the noobs. Love the realistic advice on your channel bro keep it up!

  5. Credit cards are not for certain people such as guys that drink and date multiple girls , a guy would do insane spending just to get laid ….also gamblers and football fanatics should destroy their credit cards Go look at a popular NFL content creator live video and see how many people are throwing away $50 and $100 by donating just like nothing in order to impress others …even $500 and more donations are not that rare after a playoff game was won (people getting emotional) This is nuts, credit cards are not for everyone that’s for sure but are a valuable tool for responsible people

  6. Joey Doherty

    What Dave doesn’t understand is that plenty of people like me handle their money primarily electronically. If you are used to managing a debit card, a credit card is no different.

  7. Jayesh Tambe

    VeHHHicles @ 4:22 hahahahahahahahahahahahhaha

  8. Konstantin K

    Hm, I dunno but in my country all these pros are not relevant.
    1. Debit card is much safer than CC. You usually don't keep all you money on your primary account that debit card is linked to, but on other deposit accounts with some interest. And the credit limit on your credit card is multiple times bigger than you usually keep and if it would be stolen and zeroed out, you have to pay these Huge amount of money to your bank, as they don't care if it's credit or debit card, it's your fault of losing a card.

    2. Also the Cashback and bonuses are absolutely the same for credit and debit cards, so it doesn't make sense to have a credit one.

  9. george slupski

    You have points but wrong on alot of points. If Ramsey would say CC are ok for responsible people, the irresponsible will think he is talking about them. I see it in my biz everyday (golf) the bad players dont take lessons because in their mind it wont help them. The better players are always learning to get better. Ramsey has to say what he says or every schmuck thinks his CC habits are in control

  10. I like your Attitude, but you need to and then identify what Dave Ramsey is Ashley same. What day they’re saying if you know how to manage your money, he would be better off not having credit card debt. I did not have your grandmother for guidance for my financial future, and therefore I did a first class you have a really screwing it up. I am in the process of getting out of credit card debt, and I will not do it again in the future. But I’m finding this out when I’m 73 not when I’m 18 unfortunately. I like your stance I’ll probably do that after I pay off all my credit card debt, and I will not pay anything to credit cards in the future for anything.

  11. Studies show 18% high expenditure if you pay with credit card vs cash even being responsible, you spend more, therefore the reward don’t match the spending, best thing to do is only use a credit card to build credit

  12. Bently Woodrow

    You don’t have any money.

  13. Deadpool On google

    Yes i had credit cards and i used them way to much so now i use debit card with no overdraft i like it better because there is no bill to pay at the end of the month but its a personal choice

  14. Mavado Roaster

    I disagree .. ppl who are financially responsible don't need a credit card

  15. He definitely caters to a certain crowd and sticks to what works with his brand. Everyone is different. Although he seriously misses the mark when it comes to building your credit. Not even acknowledging it. I cringe when he tells some young guy that pays off his cards every month to cut it up. Definitely a HUGE hole in a complete picture of building financial stability.I love my credit cards/building credit and all the perks that come with it. Great video!

  16. Hiram Bright

    Dave Ramsey is wrong just about everything except the very basic common sense stuff.

  17. I agree with him. I'm not 12 years old. I treat my credit card like I do cash. If I don't have the cash, I don't use it. I also hate having a credit card balance and pay it off immediately. I even can't stand seeing a balance even though I just transmitted a payment! lol!

  18. Scott McDonald

    What if someone uses a CC to purchase any of Dave's products? Would he like it then?

  19. Wise Financial Cents

    Great video, Credit is important and can be a great way to make money from the purchases you do on a regular basis. I made a video about how I use credit cards to create passive income responsibly.

  20. I've been following Dave's videos for at least 3 months now and I've always disagreed with that exact point. I'm 25 and I've always been very responsible with money so overspending with my credit card is not really a problem to me (because I don't). And I've had a credit card for only 2 years now and I've never had problem saving as well. It's ultimately up to the person's ability to control their spending habits.

  21. MartinezStudies

    04:18 lmfao at the Dave Ramsey impression 😂😂🤣🤣

  22. Information was very thorough and informative.

  23. Sarah Conner

    Dave scamsey Ramsey is an idiot cult leader!!

  24. So he's not wrong, you're not wrong, it's just two different styles. Why do you have to put him down for just having a different style. It's fine if you want to promote your way, and his is great as well. There are different people in this world and they might need Dave's style, and others can benefit of yours. I have no problem with ccs, so just saying. Don't make people steer away from Dave's way of doing things. Like math, some teachers teach one way and others another way, then there's that awesome teacher that turns every student into a walking calculator. You and Dave are teacher, A and B, dont mock eachother's style. Where's teacher C ?

  25. The Rise of Dawn

    You're actually deceiving the public! Credit cards have been created from thin air!
    Fiat currency is created from thin air too.
    Why don't you create your own credit card I will do the same too.

  26. Greedy Capitalist

    We're different people at different times in our lives. Years ago I was an undisciplined doltard with no financial education. Naturally, I got myself into deep trouble with credit cards. I ended up cutting them up and making payment arrangements with my creditors, and for years I thought of credit cards almost as inventions of the Devil. I started to get a proper grip on my finances a few years ago, constantly listened to readings of "The Richest Man in Babylon", which is the best book on finance that I know of, started building an emergency fund etc. And I also realised that I would need to rebuild my credit score if my plans for the future were to stand any chance. So over the last couple of years, I've successfully applied for half a dozen credit cards, which I only use for those things I would have spent money on anyway – things like groceries, petrol, paying tax etc. And I clear the balances on all my cards every week, so I don't pay any interest. My credit score's still not great, but it's above the national average now, and hopefully in a couple more years it'll be good enough so I can get a mortgage with a decent interest rate. It all comes down to developing the right mindset, and if I can do that, anyone can.

  27. Richard Long

    The house thing was on point bro. We all dont live in Tennessee with a high income 😑

  28. Up vote baby

  29. Dave is wrong on almost everything..why trust a man that lost a million and filled bankruptcy

  30. @2:24 “IF you’re financially responsible” This is the biggest problem because it’s not taught anymore. Many don’t have this concept. Great video.

  31. Rickardo Duhaney

    He actually did not said that EVERYONE is irresponsible with credit card. And dude you actually proved him right when you said that 45% payed off their debt which means that most (55%) does not.

  32. "In my entire life, I've paid this much in interest…" Given that you're a finance person who seeks to teach others about finance, I'm neither surprised nor impressed. If everyone handled their finances the way you do, you'd have zero audience, right? Just because you aren't the norm for how people use plastic doesn't mean the average person should.

  33. Remember who Dave's target audience is. People who spend time on finance sites learning how to maximize their money aren't his niche.

    What about Dave's claim that people spend more (12% or so) when buying with plastic, even if they do pay it off? Any thoughts there?

  34. i dunno, i agree with dave to a certain extent, that being said its way too convenient to buy things online or over the phone with a credit card.. i could give a shit about any rewards, but I don't pay any annual charges or interest. Dave can help most people drowning in debt, but once you've broken free from debt you need to look elsewhere, this is where Marko comes in.

  35. Juventino Gaytan

    I think many people misunderstand Dave Ramsey and his philosophy on money. It’s based on biblical teachings and her personal experiences. Very little math involved. Most of it is building good habits. Much like Marco teaches on his channel. Using credit cards opens your finances up to a certain level of risk. I think that’s the bottom line. It’s up to each individual to take that risk and all their past experiences into account when making the decision to spend using debt or spend using cash.

  36. credit cards are bad

  37. 13 years never paid a single cent on CC fees. Very disciplined with my budget (I have detailed records with yearly analysis of my finances).

    Still glad I dropped my CC.

  38. So glad I found you 🙏🏽

  39. John Santiago

    “Your buddy Dave Ramsey”. 😂

  40. Benjamin Kelly

    Your facts are just wrong. My Visa debt card has the same protection as any credit does.

  41. Dave Huelsing

    Well done, logical and respectful!

  42. 1) Debit card has the same amount of fraud protection as credit. Few years ago my debit card was stollen and used. After 1 phone call to my bank; funds were deposited back into my account
    2) My debit and credit card are currently with the same bank, I get the same cash back rewards when I swipe my debit card (my credit card will probably close on its own due to inactivity)
    3) Help build credit is probably the only valid argument here, so that you can qualify for a lower interest loan.
    4) Bonuses? Most banks give something like a $200 bonus for opening a qualifying checking or savings account

    I wouldn't say Dave Ramsey is wrong as he gives cookie cutter advice to MOST people. Sure there is a handful of people that are 'responsible' with a credit card. That handful of people out of how many?

  43. Alex Gutierrez

    1. you have the same protection with a debit card, it's called a chargeback. the vendor does not have to consent to this. i have had to do this twice, once for $1800 and the other for $250 and all i had to do was send any emails or texts that were exchanged between me and the vendor that didn't deliver what they promised
    2. i currently have a debit card that offers cashback with a minimum amount of transactions per month. there is a product called "kasasa checking" that give you cashback perks as well as refunded atm fees. that's just the one i know of but i'm sure there's more out there.
    3. you never "have to" take out a loan. when it comes to a mortgage, the first thing is structuring the mortgage right like dave recommends: 15-year fixed rate at no more than 25% of your take home pay. as long as you buy a house you can afford, and focus on paying it off early, then interest rate plays a small factor in the equation. there's also manual underwriting which allows you to get a mortgage without a credit score at all.
    4. that $600 that chase gave you for "free" for signing up for a credit card comes from somewhere, which is the service fee they charge you each month for having an open account. i fell for this once: they offered me $300 just for signing up for a checking account with direct deposit. as soon as i noticed they were taking $12 out of that account for it simply existing i cancelled the account. they don't just give money away out of the kindness of their hearts, they're a business not a charity.

    feel free to tear me a new one in the comments, i'm ready for it so bring it on.

  44. I’m glad everyone in the comments can now go rack up a balance on their CC now that they’ve heard what they wanted to hear.

  45. ceci delgado

    Thanks Marko hey honey question. How do you believe that if things were to hit the fan, let's say we all buy multiple bitcoins or try to in the u.s. would these companies, robinhood and coinbase, be able to pay us all if we wanted to pull out the money 💰 for that rainy day

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