Dave Ramsey rants on credit cards

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Dave Ramsey explains why credit cards are a scam for the middle class.

25 Comments For This Post

  1. IBMeddling Says:

    People should use cash for political reasons also. Use it or loose it. There is a toll road in Texas that won’t even accept cash.- since most people had the “i pass” in their car windshield, most people didn’t even care about the no cash policy. The same thing could happen in major stores accross the country if most people don’t use cash.

  2. 800504 Says:

    but the system is forcing people into using credit, you wanna buy a car, and you’re NOT a millionaire who make the payment in full, then you have to finance it, well, to do that you need a good credit, if you dont, ok they tell you to go out there and spend more so you can build up your credit. American life is almost just about building up credit if you’re middle class, no car no house if you dont start your life on that plastic.Its how you use that plastic makes the difference.

  3. tiborzkarate Says:

    You are absolutely right, all the banks CEO’s know that. Additionally they also know human negligence is play a big roll like people forget to pay bills or being late, or job loss, any info changed on your date all these makes money for the banks. Finally the very same money you borrow is basically your own money what you keeping on you’re checking or you’re saving accounts. Bankers are scavengers we should not have banks or Wall Street at all but greed is seeded so much in our culture

  4. tiborzkarate Says:

    Dave would be right in normal circumstances. The system is setup for credit cards use in this country. If you don’t use your credit cards like I do most of the time my credit score stays low ( when your credit score stays low you not able to get good loan for large item purchase) because I’m called “not a good customer” . Banks like irresponsible people , banks makes money when you have big balance on your credit cards. This economy will collapse if people would start saving money like China

  5. 376Susan Says:

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  7. MrGlennbeckfan Says:

    Credit cards, in my decidedly unprofessional opinion, are basically an iou to… lets say the bank, credit cards are an iou what the price is, plus a certain percentage more. Like he says, when people have a credit card, there seems to be some sort of inherent genetical disorder to spend wildly.

  8. deltapunk21 Says:

    credit cards are not scams but valuable services. They do not force people to buy things and not pay them back or get themselves in a pinch in fact CREDIT CARD COMPANIES LIKE ALL COMPANIES WANT A PROFIT, and reckless debt means no profit aka no paying them back the amount you stole from them, plus intrest to keep up with inflation and sure as hell not tacked on little bit of a few percents to collect any profit off of it.

  9. firestarter123456 Says:

    Iv earned $1000 back in cashback and rewards so far this year by using a credit card and have never paid any interest, credit cards can be a very good thing if used wisely.

  10. believerintheword Says:

    Wow there are alot of people who just cant let go of their credit cards. I dont have any Credit card debt. Guess where im going? Maui with my Wife, ALL CASH BABY!! and I will owe nothing to noone when I get back. Have fun with those chains. I’m Free!!!

  11. Salena52 Says:

    Ouch. You’re going into debt in a handbasket. If anyone needs to listen to Dave Ramsey you should really concider.

  12. Salena52 Says:

    What’s so great about credit?

  13. handsandleet Says:

    my mom uses an american airlines credit card (some type of airline not really sure about which one)and she gets free airline tickets after a certain amount of purchases have been made with the card. im not sure if they do that kind of stuff with debit cards. if they dont i guess that’s one thing a credit card is good for

  14. musicgeek3 Says:

    Read the book MAXED OUT and you will see how even if you have the best record of paying off your cards always on time always in full they WILL try to mess it up for you @ some point CUT UP your credit cards ! Be done with DEBT forever!

  15. badmudda Says:

    ive never even have had a credit card, i guess im just too retarded to figure out why borrowing money and having to pay it back with interest instead of just using debit is a good thing.

  16. averageworkinggal Says:

    The reason why you use a credit card over a debit card is TILA protection on purchases over $50 with the credit card.
    If the vendor stiffs you on a debit card purchase, you’re stiffed.
    Not with a credit card.
    You get to reverse the charge.

  17. rappilot Says:

    Amen Dave! We have been living without a CC for over 2 1/2 years now … Oh my .. we are still LIVING and Living LIKE NO ONE ELSE!!! THANKS!

  18. Sonnybuckfarms Says:

    If your debit card has a Visa or a MC logo on it, its protected under the EXACT same consumer protection laws as your precious credit cards. Ten bucks says a creditor told you that.
    I’m done with credit anything!
    I’m done with being a slave to the lender!

  19. cymbeli Says:

    paying bills and living beneath your means is not the solve it all though. You need a CC to fly, buy flowers, reserve a car well you can put a substancial deposti down for that..I’ve done it but so many things in this regard…I only use my debit card and have no more credit cards. I’m paying off one that I can’t use anymore but I’m making progress. I just sucks that there is record of things I buy. This is why grocery stores have savers cards. They keep tabs on you so they can size you up.

  20. RealAndTruth Says:

    People need to re-build Credit. America is in a position of needing to re-build credit.

  21. Markisagoodboy Says:

    at the moment I am spending credit cards on credit cards.

  22. grekridea Says:

    Yeah and when you rack up debt and forget to pay a bill and get the high interest rate good luck

  23. altha2008 Says:

    if you will pay your bills you will not have to worry about Credit cards

  24. altha2008 Says:

    I got 20 credit cars with $5,000 on each one do not owe nothing on them
    got $125,000 in cds still have them with people who investing mutual funds lost everything
    got a line of credit on persoanl resident up to $250,000
    so anything around $500,000 I can get
    DAVE just complines about Credit cards because his wife was called and he was made a fool of for not paying his credit card bills
    pay your credit cards bills on line you will not have to worry about it being late

  25. grekridea Says:

    You can’t rely on that crap my friend. It’s worthless. Those c.c. companies will do anything they can to screw you. It’s revolting. They’ll find ways that make it seem legal on the outside but are illegal and at the very least unethical.

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