Economic Poison: Advice from Credit Card Companies and Kiplinger

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The scammers are trying to scare you into using a credit card
Joan GoldWasser
Questions for Joan:
What happens if Im late when I use my credit card?
What if I spend more than I can pay off?
If I pay for things with the money I have, do I still get to have the banks financially rape me with interest and fees?


The dollar is being dumped right in front of our eyes

Fundamentals for our economy are getting even worse

The truth
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Sharon Young says:

I only use a credit card that generates travel points.I use it for ALL transactions. I have taken two "free trips" over that past 5 years on points. I have NEVER paid a cent in interest or fees as I set it up at the bank to pay the entire balance off very month from my savings acct. It works great!

Bitter Clinger says:

Thanks to my wife,we only have one credit card that is used in emergencies.We also have very little debt,we started living like this a couple years ago when things started going loony.We are some of the lucky few who are not buried in credit debt and high mortgage payments.

WesSeid says:

Credit card companies will help you in case of a stolen card or identity theft, etc. My cards pay me to use them.

The only main problem with credit is if people don't have the discipline to pay them on time or buy extra stuff with them. Credit cards are just a tool. Tools can be used for both good and bad, but it is up to the user to do so.

35slave says:

i only keep 500 dollars in my debit/checking account.

Jack Nicholson says:

Kiplinger has been giving people bad advice for years. They were scared of the stock market in the fall of 2002. In 2005 they recommended home builder stocks. Last year they promoted oil stocks before the crash. Earlier this year they said cash was king. Think for yourself and invest in something that you understand well.

nextdimensions says:

interesting video
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Boomer1949 says:

First video in a long time I totally agree with. Put the plastic away and use cash or your debit card. Plan you trips to do shopping, make a list and stick to it. Find small ways to same money coupons, sales, 2 4 1, bring a lunch, only light the room your in, only heat the room your in, up your deductibles on car insurance, start a rotating car pool, I've done all of this and can live on $900 a month.

econewpower says:

Great advise for the masses

kickndave21 says:

I use credit every month and pay in full, but understand some people cant. – I look at it like a free loan for a month.

chena3 says:

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Thanks for your information!!!

mitchee009 says:


I have not talked to you in a long time brother man. Keep the videos coming… You make me smile when you show some of your frustrated side…LOL! But I understand you man.

Listen, Im in San Diego, Pacific Beach and La Jolla… How far are you from these pleces??

Please pm me.

Peace and love Danny man,.

Your South African brother,


VisionVictory says:

thx for the comments

sstoy10 says:

Thanks. You and myspace secrets are the only people I listen to regularly and the main reason I come to youtube.

egn83b says:

Debt cards are credit cards after you take off the balance will it act like a credit card.
I think there are some people who carry debt cards but don't have that option. The credit card companies are starving for business. The pool of money in americans pockets have shunk so they are willing to lie to get record profits again.

LockeandDemosthenes says:

Great video. One observation… Your last "Thank you for joining me on the VisionVictory Channel" had a snarky tone to it — a bit more bite than usual.

You crack me up, man!

PrepNow says:

I really recommend you listen to the First Baptist Marco (delete spaces) just search it on you tube. The interview is "What Drives this Market." I know that you know but I am impressed at the knoweldge of this church, and surprised that they are
sp realistic about this. I know you won't want to miss this.

I have never missed any of your videos. Please listen/watch this one.

dlucas90 says:

Isn't it ironic that the banks were originally meant to protect our money from thieves, but now we have to protect our money from the thieves that run the bank.

anyandeverything says:

We were only able to get them to credit about 1/2 of this back (after major hassle arguing w/managment, etc.).

anyandeverything says:

Never had a problem w/my credit union, but when we moved out of state, USBank screwed us royally by putting a "10 day hold" on a $7500.00 cashiers check I deposited w/out telling us!!! We went on vacation the next week using our card over a dozen times – instead of declining our purchases so we could find out what the hell was going on, they went ahead and let them go through – immediately charging an additional 25.00 per transaction every time (including a couple <$10 purchases).

anyandeverything says:

Great video Dan. I would like to point out that your bank CAN rape you just like the credit card companies (often the same company) in the form of overdraft fees, user fees, etc when using a debit card. It totally depends on your bank. The "giant monster megabanks", as Clark Howard would say, are notorious for this.
I speak from experience.

curiousEGM says:

If people believe and respect their financial limits, a lot of things in this country should collapse, especially these morons who push fantasy economy over real economy. I bet they can't even grind rocks to make a living. Corruption is at an all time high.

sizzlot says:

SNL had a classic skit "Don't Buy Stuff You Can't Afford". I can't find the original on YT, but here's a link to a similar vid:
watch?v = Zj8TWETFFXQ

curiousEGM says:

What is happening to the petitions for redress of grievances? Well, you just defined how far you can get to receive any response. Profound comment.

sizzlot says:

Debit cards with a Visa or MC logo can be used as credit cards. The advantage to this is if the card or number is fraudulently used as a credit card, you're only liable for $50.00. Also, some banks charge a fee for debit transactions; the merchant pays a fee when you use the debit card as credit…

GodsGrace says:

breitbart. com/article. php?id=CNG. 3c2cf2ed926d0f380377814047968b22. 991&show_article=1

It was in the comments…

SamuraiCommando says:

Good advice, I was actually discussing this credit card vs debit card topic last night with my significant other. She is reading Dave Ramseys book and he says Debit cards are just as safe as credit cards.

chena3 says:

gold is honking ….

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trending higher

silver 17.80 ….

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tantoi10man says:

Never owned a credit card. I do this CRAZY thing my Grandparents did, I LIVE WITHIN MY MEANS!!!!

gr8mikeY says:

I would encourage people to use cash over debit cards or credit cards. Especially for local merchants. The reason being that the merchant has to pay a fee to process the transaction and then has to wait a couple of days for the actual money to hit their account. Use cash! Starve the beast!!

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