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If you think it will be easer in 2025 you are mistaken. We may not get a recession but it will not get easier. And Trumps tariffs and trade wars, will not make the situation any better if anything it will make it even worse.
Credit cards are way better than debit cards for fiscally responsible folks. Points, fraud protections, other perks.
The reason people aren’t just using debit cards is because they don’t let you spend money you don’t have… credit cards do. Most of them don’t understand how decimating credit card debt is before they go all in as deep as they can.
Can’t wait until the global reserve breaks and it finally hurts you sitting in another country
George has been so removed from the average person's reality he is losing touch more and more. Sad to see it.
how do debit cards get hacked
QUESTION:
1. Who is the backer of the debt?
2. Who is the secured party lien holder?
3. Who created the credit on the asset side of the balance sheet?
4. What do you hold as evidence of the debt?
ANSWERS
1. The Government.
2. The credit card company.
3. You did.
4. The Security.
QUESTION.
1. What is a security?
2. What can you do with securities?
3. What are your duties as a securities holder?
ANSWERS
1. Evidence of a contract
2. Renegotiate.
3. To return the contract to the lien holder as an acceptance, making the bank your securities intermediary, the one holding title and rights.
Moral to debt. Don't be the party holding the security as holder of due course. Always evidence yourself as the beneficiary, the creditor. Remember, you created the debt, which also makes you the creditor. It all depends on who the entitlement holder is.
Learn securities, trusts and your estate.
Me, working hard, making more than average salary… Looking at the people around me, seeing they have much richer lifestyle than I do 😉 that’s how it looks when you have zero debt, it’s deceiving
A component that is missed is the debt itself. The increase in balance, is NOT just money spent. It is interest occurring.
are you crazy!!! People never use a debit card. there are no protections on them. Or bonuses. But everyone knows if you get ripped off on a debit card trans its almost impossible to get your money back.
George, you should always use your credit card when possible (assuming cash price is the same), and you should always pay off credit card within the month, paying absolutely zero interest. The point/cash back from credit card can be over 5%, it is free money.
I am one of those credit card users for points. My currenct balance in $148.00 which hasn't cycled yet.. When it does I will simply pay it. I have about $56.00 in points which I haven't allocated yet. I could use a debit card, but it is not as well protected against fraud like a credit car. And the debit card is attached to my checking account which is no bueno. So, I never use the debit card unless there is an emergency.
I paid off my credit card debt this month. Feels great.
You have a little bit more protection under your credit cards, there is no protection under your debit card once it's out of your account money is history
lol George Gammon The People’s Man. Ask his secretary how good those credit card points are
Wow, how out of touch is this guy that he doesn’t know about credit card rewards and his “assistant” handles that. Ask this dude how much a banana costs
Just sold my dog to buy fart coin.
Doesn’t matter as long as delinquency stays low.
Cash on the barrel head baby! ????
My best friend is 10k credit card debt because she can’t find a job…
Sucks to be poor
George, FYI the distance between New York and California is only about 3,000 miles. I keep hearing you say 5,000 miles. Otherwise, great info! And I agree with the others about all the benefits of using a credit card over a debit card. The reason I stopped using mine.
Christmas shopping is an example of a tradition shaped by advertisers where people are shamed for avoiding participation in the nonsense.
People buying crap they can't afford with money they don't have.
Everyone is waiting for the mortgage rates to go to 1% so they can refinance and start from a lower interest rate clean slate. Plenty of equity out there. Is anyone surprised that everything is at an all time high except disposable real income?
Household debt to GDP has been dropping since 2007.
debit card is linked to YOUR cash, so if your card is comprimised, you could lose all of your cash without the same level of protections afforded by credit cards. credit card is linked to the BANK's cash (which you give the bank an "I owe you" for legitimate transactions).
I use credit cards for fraud protection and cash returns , pay off monthly