Should I Close a Paid Credit Card Or Leave It Open?

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  • Опубликовано: 29 авг 2024
  • Should I Close a Paid Credit Card Or Leave It Open?
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Комментарии • 432

  • @JoelGG
    @JoelGG 4 года назад +497

    Dave's face when she says "My wife and I" 😂

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад +1

      Joel G wow I still can't believe it as I'm getting the sum of 10,000 USD dollars every single day just with a blank ATM CARD given to me by hacker Justus

    • @lmgam
      @lmgam 4 года назад +16

      Joel G. 😂

    • @itrthho
      @itrthho 4 года назад +39

      Yeah, that head movement!

    • @Cahluvca
      @Cahluvca 4 года назад +27

      Lol welcome to the reality of this world

    • @kristinamarie111
      @kristinamarie111 4 года назад +10

      Joel G. I’m weak!! 😂🤣😂

  • @billkindig137
    @billkindig137 4 года назад +121

    The title of this video! ...we all know the answer yet we still watch.

    • @DaringDanielletravels
      @DaringDanielletravels 4 года назад +4

      KidBilly he literally gives the exact same advice in every video but....

    • @genwunner6783
      @genwunner6783 4 года назад +8

      we watch for the response not the actual answer.

    • @karposca3762
      @karposca3762 4 года назад

      😄😄 ABSOLUTELY!!

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      @@DaringDanielletravels text him on what's app +1(206)-415 4732

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      @@genwunner6783 text him on what's app +1(206)-415 4732

  • @trekreview
    @trekreview 4 года назад +82

    I am writing this before watching the video. Dave says get rid of the card close it!

  • @MisterWileyOne
    @MisterWileyOne 4 года назад +96

    Close it. Only keep the two cards with longest history/points benefits/acceptability in all shops. Most importantly keep paying off the balance in total monthly. I went from 11 cards and 565 score to 3 cards and 825 score in a year.

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      Grumpy Greg wow I still can't believe it as I'm getting the sum of 10,000 USD dollars every single day just with a blank ATM CARD given to me by hacker Justus

    • @Bumblebee-jl3ur
      @Bumblebee-jl3ur 2 года назад +4

      Thanks so much!

    • @avatarhealing7057
      @avatarhealing7057 2 года назад +7

      Wow that has truly motivated me

    • @dmana3172
      @dmana3172 9 дней назад

      You need to close all of them and get your score to zero, so you won't be tempted to get back into using them again.

  • @stevemillerecon
    @stevemillerecon 4 года назад +180

    Most California call ever.

    • @CanadianBullFrog
      @CanadianBullFrog 3 года назад +1

      😂😂😂😂😂😂

    • @ryanthepianoman27
      @ryanthepianoman27 3 года назад +1

      What’s that mean

    • @X.boobie.x
      @X.boobie.x 2 года назад +5

      they wouldnt have to do all that if they weren’t in CALI
      😂😂😂😂😂

    • @Nyufly
      @Nyufly 2 года назад +1

      😂😂😂

    • @TheSoulCrisis
      @TheSoulCrisis 5 месяцев назад +2

      @@ryanthepianoman27Means everything in California is backwards lmao.

  • @desertraider
    @desertraider 4 года назад +67

    " We moved out .... to live in our car for about 6 months." Dave's look: priceless 0:22

  • @Simon-oy7kf
    @Simon-oy7kf 4 года назад +200

    Caller: "We lived in our car"
    Dave: "SELL THE CAR!!!"

  • @gennagresham3986
    @gennagresham3986 4 года назад +144

    800 credit score here, no debt, never had debt, and have enjoyed cash back totaling thousands. It's not bad if you are responsible.

    • @kokojones9892
      @kokojones9892 4 года назад +15

      How have you never had debt using a credit card

    • @gennagresham3986
      @gennagresham3986 4 года назад +48

      It is simple, I've just always paid my credit card bill in full, sometimes every week.

    • @hcp0scratch
      @hcp0scratch 3 года назад +31

      BINGO! Ramsey thinks we are ALL morons.

    • @Musicienne-DAB1995
      @Musicienne-DAB1995 2 года назад +20

      @@gennagresham3986 So you get into debt every single week? You definitely have debt all the time. How can you not see that?

    • @thatsabear
      @thatsabear Год назад +14

      What she means is she pays her debts quickly and doesn't pay interest. I think that was obvious to any rational person. I do the same with credit card debt.

  • @tbedre5548
    @tbedre5548 4 года назад +140

    Caller: We lived in our car
    Dave: 😧

    • @RhinoXpress
      @RhinoXpress 4 года назад +13

      That's the norm in many parts of California unless you make over 150k per year.

    • @DaringDanielletravels
      @DaringDanielletravels 4 года назад +8

      Tiny home living is not as horrible as he thinks

    • @johnreese7291
      @johnreese7291 4 года назад +5

      I loved that look he gave for that!! Haha

    • @artificiallyflavord5588
      @artificiallyflavord5588 4 года назад +2

      @@RhinoXpress America*

    • @tbedre5548
      @tbedre5548 4 года назад

      ArtificiallyFlavord I agree

  • @Pauliey365
    @Pauliey365 4 года назад +31

    This person showed if you're motivated you can truly pay off your debt. With Dave's RUclips videos and books, I've been debt free Since 2018. Thank you so much Dave. You were a voice of reason in an unreasonable time in my life.

  • @mrdrumz48
    @mrdrumz48 4 года назад +27

    My Credit score is 812. I've never paid any interest on my credit card, Ever....

    • @magacop5180
      @magacop5180 4 месяца назад +1

      You must not have owed anything then.

    • @max60richy
      @max60richy 3 месяца назад

      Exactly! If you pay your last statement balance off a credit card you do not pay interest. If you have a loan for a house or car you pay interest. I think the question being about credit cards and Dave saying people pay a lot of interest to get to an 800 credit score is confusing. He had to have meant you pay interest for loans and mortgages which is true.

    • @clairegabo9242
      @clairegabo9242 6 дней назад

      @@max60richyi have credit one I’m paying interest even tho my cards are paid off

  • @avocadomegs4189
    @avocadomegs4189 4 года назад +87

    We just ✂️ ours all up and collected them in a jar. It's such a nice decorative piece 😉👌

    • @samanthadudley9447
      @samanthadudley9447 4 года назад +1

      Love it!

    • @pryme2013
      @pryme2013 4 года назад +6

      Sorry you're not strong minded enough to properly understand and use a credit card to your advantage

    • @avocadomegs4189
      @avocadomegs4189 4 года назад +6

      @@pryme2013 Bowing down to the "Almighty FICO score" isnt very strong-minded in my opinion 🤷 Guess it's a good thing we're all entitled to our own opinion 😏

    • @pryme2013
      @pryme2013 4 года назад +7

      @@avocadomegs4189 so you paid cash for your home? Or do you have a mortgage? So you have a zero credit score? If you use credit properly it works for you. Problem is most people, like you it sounds like, have made terrible mistakes with money and think it's a bad thing rather than bucking up and realizing they made mistakes and moving forward. For intelligent people, credit works for them, not against them.

    • @bigp8871
      @bigp8871 4 года назад +3

      Mr M exactly I don’t understand how dumb people are including Dave. At least use the credit card for basic necessities such as gas and use it for nothing else. I don’t see how it makes you “spend more” if you use it on certain things like that

  • @viaceslavjanc3267
    @viaceslavjanc3267 4 года назад +140

    Woman: "my wife and I..."
    Dave: "huh?!.." a second later thinks "oh yes, we live in a postmodern leftist west, nearly forgot"

    • @ronwhiteleo3352
      @ronwhiteleo3352 4 года назад +32

      hey i am critical of Dave at times, but he does not discriminate.... his focus on putting the credit card business out of business is always the same..

    • @marcarrera4904
      @marcarrera4904 4 года назад +10

      So true lol then he thought oh California... makes sense 🤣

    • @pfeiffdog0811
      @pfeiffdog0811 4 года назад

      Alpha Centauri I’m a liberal but appreciate your comment. We could look at Liz Cheney and see it’s not a liberal thing.

    • @bravehats
      @bravehats 4 года назад

      Haha!🤣

    • @itrthho
      @itrthho 4 года назад +1

      It's California, after all.

  • @flch95
    @flch95 4 года назад +33

    I dunno Dave having a good credit score allows you to sign up for things (utility accounts, phone plans etc.) without having to put down deposits, and also weasel your way into paying less for things as well. Not just about borrowing money.

    • @jaust9077
      @jaust9077 4 года назад +16

      Yeah but if you do what dave tells you to do paying a 200 dollar refundable security deposit for utilities shouldnt be some crisis for someone who is good with money

    • @BiggSneaddd
      @BiggSneaddd 4 года назад +3

      @@jaust9077 AMEN!!!🙏🙏🙏🙏🙏🙏 AGREE 💯💯💯

    • @stan3945
      @stan3945 3 года назад +5

      I don’t know man, but if you are going around worrying about initial deposits that inevitably will be reduced from your total cost than perhaps you got something wrong going on.

  • @cheezybred
    @cheezybred 4 года назад +47

    I am looking for an apartment to rent here in nyc. Every single person i talk to asks if i have good credit before they even talk to me about showing properties. I have no debt at all but my credit is good, i have open accounts and there is no reason to close them or damage my credit to just add an extra headache. Buy something for $20 here and there and pay it off right away. Just leave it there and keep a good credit score to save the hassle.

    • @JonCorvin
      @JonCorvin 4 года назад +13

      I agree! Control yourself first! I have 18 credit cards and they are paid off monthly. I don't spend money that I wouldn't spend if it were cash. My score is 830. No Debt besides my mortgage.

    • @explodev2550
      @explodev2550 4 года назад +1

      Jon I have a 400 credit score. How long will it take me to get to 600 if I’m consistent with my payments?

    • @YaBoyNigeMakinMoves
      @YaBoyNigeMakinMoves 4 года назад

      @@explodev2550 it depends my friend. The time frame depends on the type of debt you carry and the Credit bureau typically cycles every 6 months. It could be 1 to 2 years before you go from 400 to 680ish.

    • @GR-uc1gq
      @GR-uc1gq 4 года назад +3

      @@JonCorvin why on Earth do you have 18 credit cards. Are you going for 31? So you can use a different card for every day on the calendar?

    • @GR-uc1gq
      @GR-uc1gq 4 года назад

      @@explodev2550 You'll build more credit if you apply for different kinds of credit. Car loans personal loans credit cards. But I wouldn't get into debt just for a score. Just keep a couple credit cards and ALWAYS pay the full balance every monthly cycle. In 1 year you could get 600+ if you keep using it for your normal expenses

  • @GR-uc1gq
    @GR-uc1gq 4 года назад +58

    Watching with my GF. Dave Ramsey and chill

    • @gudrh4024
      @gudrh4024 4 года назад +6

      *note taking noises intensifies*

    • @howlbeast
      @howlbeast 4 года назад +4

      thats goals right there

    • @Will-oj3un
      @Will-oj3un 4 года назад +5

      Give her the rice and B E A N S

  • @burropoco
    @burropoco 4 года назад +60

    Caller: "So my wife and I..."
    Dave:............... [2 second glitch in the matrix]

  • @dbcrn859
    @dbcrn859 4 года назад +9

    Your credit score has nothing to do with how much interest you pay. It is about the length and diversity of your credit, and making payments on time. Pay off the bill every month and you can have excellent credit without paying interest.

  • @DaringDanielletravels
    @DaringDanielletravels 4 года назад +15

    This video is right on time, I just paid off my credit cards but haven’t yet called and closed the accounts. Looking forward to learning more about manual underwriting when it comes time to purchase my first home

    • @wilE6764
      @wilE6764 4 года назад +5

      Daring Danielle..I was thinking the same thing..but I have a feeling it has to do with a lot of cash..or everyone would know about it..lol

    • @tinytim8173
      @tinytim8173 3 года назад +3

      I really really hope you didn’t close those accounts

  • @paulaincanada4831
    @paulaincanada4831 4 года назад +42

    Closing credit cards effects your credit score negatively so cut them up. Don’t use them and let them lapse naturally

    • @samanthadudley9447
      @samanthadudley9447 4 года назад +8

      Thank you. I was hoping Dave would just say what you just did, short and to the point. I really appreciate it. Working on baby step 2.

    • @lilliansanders5470
      @lilliansanders5470 4 года назад +17

      I just paid off all my credit cards!! Debt free !! I was wondering the same just let the company cancel my cards ! Because i don’t want it to effect my credit score

    • @samanthadudley9447
      @samanthadudley9447 4 года назад +5

      Good for you!! Its good to hear of someone getting out of debt, its inspirational. Keep up the great work

    • @MichaelP-ke1tm
      @MichaelP-ke1tm 4 года назад +6

      People are too stupid in America. 90% of people live paycheck to paycheck. Even people who make over 100k/year.

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      @@lilliansanders5470 text him on what's app +1(206)-415 4732

  • @Qwalnuts
    @Qwalnuts 5 месяцев назад +2

    "I believe in doing away with credit." You have my attention, sir.

  • @Tailong
    @Tailong 4 года назад +26

    If you payed off your debt, don't close the account, shred your credit cards and forget about them, there is zero negatives to having a credit card with no balance on it(unless it has an annual fee).
    With all that said, I think MOST people that listen to Dave Ramsey should close all lines of credit, because the average person will get into debt the moment the opportunity is presented.
    The math is in favor of using credit, contrary to what Dave says, and if we were all robots we would be able to take advantage of the logical way of using credit, but we are not and emotions usually take over our dumb decision.

    • @davidpowell3347
      @davidpowell3347 Год назад +2

      As long as the account is still open someone could theoretically get the account # from the bank internally and charge to your account causing you a problem.

    • @motherofdragons33
      @motherofdragons33 11 месяцев назад

      ​@@davidpowell3347i was going to add cut n lock the card...all my paid off cards are 🔒

    • @mkperez609
      @mkperez609 10 месяцев назад +2

      I’m in this this boat I want to close my accounts cause they have yearly fee… but I don’t want to ruin my credit…Idk what to do honestly

    • @Josh-py9rq
      @Josh-py9rq 9 месяцев назад

      @@davidpowell3347 Make sure to lock the cards through their website that way you are free ;) of worry! just a little hint if the card is locked can't be charged and your safe!

    • @Albert-777
      @Albert-777 9 месяцев назад +1

      @@davidpowell3347Just dispute it

  • @PassportBrosBusinessClass
    @PassportBrosBusinessClass 4 года назад +11

    LEAVE IT OPEN
    Closing a credit card account or deuce is your available credit and therefore reduce is your credit score by a couple points. The only time you should close a credit account is if you have a credit card that has an annual fee. You should never be paying annual fee is for your credit card. If you treat your credit card right and you pay off the bill before it’s due and never pay interest they will pay you to use their card instead of you paying them.

  • @XXgamemaster
    @XXgamemaster 4 года назад +10

    100 hours a week? Lived in a car? Jesus. So sad. I hope their life situation improves soon.

  • @shadwell749
    @shadwell749 4 года назад +11

    FICO is like those old drug commercials. "I work more so I can do more coke,so I Can work more..."

  • @johnallen695
    @johnallen695 3 года назад +4

    Great advice. Cancelling credit cards off after I pay them off.

  • @mariam6822
    @mariam6822 3 года назад +7

    I paid off my credit cards and did not close the account. They charged me the annual fee of 143.00 while I was thinking about wether I should keep the credit card or NOT. I immediately closed that account after 1hr wait time

    • @Toddleoff
      @Toddleoff 2 года назад +1

      Yes, this is exactly why I'm closing the card I have. The annual fee and interest rate are insane.

  • @Simon-oy7kf
    @Simon-oy7kf 4 года назад +42

    Female caller: So my WIFE and I....
    Me: *visible confusion*

  • @richguest
    @richguest 4 года назад +27

    I’ve rarely had debt and currently owe nothing - however, I find credit cards a useful tool provided you settle the balance every month.

    • @CorrectCrusader
      @CorrectCrusader 4 года назад +4

      Rich Guest for the average person it’s just better to not get into it at all.

    • @YaBoyNigeMakinMoves
      @YaBoyNigeMakinMoves 4 года назад

      Exactly!

    • @YaBoyNigeMakinMoves
      @YaBoyNigeMakinMoves 4 года назад +1

      @@CorrectCrusader Not at all.. using a credit card properly and with restraint is excellent for the average, every day person, as well as what you may consider rich. Use a loyalty card for your normal Bill's and budget, do not carry a balance, and let the credit card company pay for your travel or give you cash back. If you have any questions about how, shoot me a message. I'd be glad to help.

    • @CorrectCrusader
      @CorrectCrusader 4 года назад +2

      @@YaBoyNigeMakinMoves The Average person can't use them with restraint. Is my point. Otherwise Dave wouldn't have a job.

    • @YaBoyNigeMakinMoves
      @YaBoyNigeMakinMoves 4 года назад

      @@CorrectCrusader True That! Unfortunately you're correct! I'm just not a huge fan of a one sided opinion becoming gospel is all. Same reason we have terrible relationship with food here in America. People aren't taught how to manage money at a young enough age, then only get one opinion, and make that the only answer.

  • @EwYoureCringe
    @EwYoureCringe 4 года назад +3

    This has got to be the most dedicated person I have seen. Kudos!

  • @ad7711x
    @ad7711x 4 года назад +10

    Having credit cards isn't bad if you pay off the balance each month. You only pay interest if you carry over the debt and make the minimum payments. And being debt free with a high FICO score is having the best of both worlds. Just because you have a credit card with a high limit doesn't mean you have to use all of it. You're honestly only supposed to use 30% or less.
    People who are anti credit cards and look down on people who have them were simply undisciplined and irresponsible to have them in the first place. I got 8 credit cards and never carry over the balances on any of them.
    Unfortunately this country and its economy revolves around credit. Most people cant pay cash for everything. But if you were going to pay $30 for gas, why not pay with a credit card, then pay the balance off withing a few weeks before the interest kicks in?

    • @Cookieboy70
      @Cookieboy70 4 года назад +3

      That’s a good point. I think have paid maybe $10 in total interest over 10 years and have 820 credit score and took many free vacations on credit card points. However, he is not wrong that paying on credit card you will almost always pay more.

    • @insideoutsideupsidedown2218
      @insideoutsideupsidedown2218 4 года назад +2

      The people who use them and are irresponsible with them are 7 out of 10 American households...continuing this trend is not a positive

    • @ad7711x
      @ad7711x 4 года назад

      @@insideoutsideupsidedown2218
      They are definitely not for everyone and even though they system is rigged to where you need them at some point, you have to adapt

    • @ad7711x
      @ad7711x 4 года назад +1

      @@Cookieboy70
      It's all about moderation. And if you dont know how to manage the money you earn, credit cards will only make things worse.

    • @insideoutsideupsidedown2218
      @insideoutsideupsidedown2218 4 года назад

      @@ad7711x I did use them, I do not anymore. Adapted.

  • @MarvelousMusic1
    @MarvelousMusic1 6 месяцев назад +1

    Unfortunately, the question of whether or not it's beneficial to close a credit card account once it's paid off remains largely unanswered here. Dave's response was more of an "all or nothing" proposal. I'd really like to know if closing one of several credit cards will negatively impact my credit score.

  • @mistertwister7858
    @mistertwister7858 4 года назад +10

    you "stepped out of the rat race" or you used it as a tool until you didn't need it anymore, because those are two different things

  • @MR3DDev
    @MR3DDev 4 года назад +14

    Wrong, you can get a 800 score without paying interest. Graham Stephan will like a word with you

    • @yayyareaa2997
      @yayyareaa2997 4 года назад

      TechYK true

    • @ErrorPagenotFound-ig1cy
      @ErrorPagenotFound-ig1cy 4 года назад

      TechYK yup I’m at 812 and have ZERO debt. Do I care about my score? Not at this point.

    • @Courtney19751
      @Courtney19751 4 года назад +1

      You are absolutely right. I have no debt. My score is almost in the 800's, and all I have us that one credit card I pay off every month. No loans or anything like that.

    • @SmoothJK
      @SmoothJK 4 года назад +2

      He said "usually." That means not 100%. That means there are exceptions, but he isn't going to cater his advice to the outliers.

  • @bobbytita8052
    @bobbytita8052 2 года назад +3

    Thank you for what you do Dave...........Great public service!!

  • @young9534
    @young9534 4 года назад +5

    I have over 800 credit score and I’ve paid less than $1,000 in interest total. And that interest was just from a car loan that has been paid off. You don’t need to spend 100k in interest for a good score.

    • @johnsonlukas7375
      @johnsonlukas7375 4 года назад

      Young 95 I'm getting the sum of 10,000 USD dollars daily just with a blank ATM CARD given to me by hacker Justus

    • @johnsonlukas7375
      @johnsonlukas7375 4 года назад

      Young 95 text him on what's app +1(206)-415 4732

    • @johnsonlukas7375
      @johnsonlukas7375 4 года назад

      Young 95 text him on what's app +1(206)-415 4732

    • @young9534
      @young9534 4 года назад

      @Sir We Are About to Die Never said I didn't. Dave makes it seem like you have to spend 50k+ in just interest to reach an 800 score. That just isn't true.

  • @wolfofdubai
    @wolfofdubai 4 года назад +36

    Love these stocks on mega sale!
    *Buy stocks when people prepare having toilet paper as new currency!*

    • @whoshotya117
      @whoshotya117 4 года назад +1

      Why did you say that? Went to Sam's club the other day and they had no toilet paper, and I'm wondering why...

    • @dustinwalker9932
      @dustinwalker9932 4 года назад +2

      corona virus

    • @meh9682
      @meh9682 4 года назад +1

      @@dustinwalker9932 Does it give you diarrhea?

  • @MariaTorres-tp7xq
    @MariaTorres-tp7xq 6 месяцев назад

    I felt relieved when I heard you speak, as it confirmed my thoughts, you are a blessing. Thanks to the caller for them asking this question. Well, wishes to all.

  • @brad238899
    @brad238899 Год назад +3

    Some employers run your credit score. Utility companies too. Apartment leasing offices. You better auto insurance rates too. Keep your cards open!

    • @edgar22452
      @edgar22452 6 месяцев назад

      Even if we're not using them?

  • @MariaJimenez-kk9ge
    @MariaJimenez-kk9ge 4 года назад +3

    I swear I learn something new everyday from this channel..

  • @DanielGarcia-zz9eg
    @DanielGarcia-zz9eg 4 года назад +7

    Just leave it open. Be responsible.
    Life will be much easier

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      Daniel Garcia text him on what's app +1(206)-415 4732

  • @CaseyBurnsInvesting
    @CaseyBurnsInvesting 4 года назад +14

    In addition to what Dave teaches, this doesn’t sound like they’re in the position to bear the risk of a leveraged investment property if they did want to go that route. If you’re not going to pay cash having a substantial savings/equity buffer is essential to not going backwards.

    • @perotal
      @perotal 4 года назад +4

      What is the percentage of people who can afford to pay cash for property lol

  • @jamesallen5591
    @jamesallen5591 4 года назад +4

    Closing a credit card is a hassle. Leaving it open with a zero balance is easy. Unfortunately.

    • @LillyLavine
      @LillyLavine 4 года назад +5

      How is it a hassle? I've never had a problem closing a card.

  • @mrperu007
    @mrperu007 4 года назад +5

    800 credit score and haven't paid any interest for 10 years. It's called being responsible. No one that has a credit card ever says that they will become a millionaire like dave always talks about.

    • @jvyeknom
      @jvyeknom 4 года назад +1

      I'm at 815 and haven't paid interest.
      It doesn't make me happy or anything but when I goo to buy a house it'll come in handy.

  • @JettingChen
    @JettingChen 2 месяца назад

    I couldn't progress until I closed all cards even before they were paid off. One of best decisions I had made in my life.

  • @LiftingGunsBibleTradition
    @LiftingGunsBibleTradition 4 года назад +31

    "I just pay cash for my investment properties" Well Dave not everyone is a millionaire like you... If I'd had to finance a property and pay fees but still be able to make a profit why not!

    • @bagamias-hula
      @bagamias-hula 4 года назад +9

      you forget he was literally bankrupt at one point... meaning not a dollar to his name.

    • @insideoutsideupsidedown2218
      @insideoutsideupsidedown2218 4 года назад +11

      If you owe money you technically do not have profit.

    • @drewpierpont3361
      @drewpierpont3361 4 года назад +9

      @@bagamias-hula he didn't make it back by buying properties with cash, he made it back by selling the nonsense that you should do that. He's not a buyer, he's a seller.
      He also made money by borrowing, he just made his situation too risky, so his loans were called. He could've done it WAY better.

    • @wesleypowell9907
      @wesleypowell9907 4 года назад +4

      Jacob Heyrend not everyone will write a book that has made him a great fortune either

    • @eclpzlvr97
      @eclpzlvr97 4 года назад +5

      @@insideoutsideupsidedown2218 If your mortgage, property tax, insurance, and set aside savings for repairs/vacancy is $2000/month... And you earn $3000/month in rental income on that property, you profit $1000. This is just an example but yes, of course you can profit even with mortgage debt. The key is buying right though.

  • @katherinabang4409
    @katherinabang4409 4 года назад +3

    Thank you for your words of wisdom Papa Dave. 🙏🏻

  • @shutupandeatasmr4498
    @shutupandeatasmr4498 4 года назад +6

    Dave didn’t dig into her debt as much as he does other calls I was surprised!

    • @dete503
      @dete503 4 года назад +3

      Shut Up And Eat!! ASMR probably to get her and her “wife” off the phone.

    • @ThePeterDislikeShow
      @ThePeterDislikeShow 3 года назад +2

      He probably didn't care anymore once he heard the word "wife".

  • @lakes26mi
    @lakes26mi 3 года назад +9

    Dave's face when she says "my wife and I" and then Dave's face even more when she says "we've been living in my car"

  • @dieyoung8259
    @dieyoung8259 4 года назад +5

    Use the card...just remember to pay it off when it posts...takes skill but there is power when the amount due is 0....

    • @YaBoyNigeMakinMoves
      @YaBoyNigeMakinMoves 4 года назад

      That's right!

    • @Cahluvca
      @Cahluvca 4 года назад +3

      Some dont have the discipline

    • @YaBoyNigeMakinMoves
      @YaBoyNigeMakinMoves 4 года назад

      @@Cahluvca Discipline is the real issue.

    • @BiggSneaddd
      @BiggSneaddd 4 года назад +1

      U sound dumb as 💩. Like Dave say, " keep playing with snakes, and eventually you will be bitten" meaning LIFE WILL...Broke ppl always got an opinion

    • @dieyoung8259
      @dieyoung8259 4 года назад

      @@BiggSneaddd Get Dave's balls out of your mouth. Uncle Tom mf.

  • @preciousg1rl
    @preciousg1rl 4 года назад +9

    Never close a credit card. Once its paid off just cut it or shred it and forget about it.

    • @Jkisacky6
      @Jkisacky6 2 года назад

      I thought cards get closed after no activity?

    • @preciousg1rl
      @preciousg1rl 2 года назад

      @@Jkisacky6 after two years of inactivity, yes.

  • @tessaharris865
    @tessaharris865 4 года назад +2

    Joel G STOP! HE is not homophobic . Hes a good christian man. He wants to help people!

  • @cattsmahal1005
    @cattsmahal1005 4 года назад +4

    Caller: we’re working 100 hours a week.
    Me: work a 100 hours a week to get out of debt by 2022. 🥴

  • @harknowhere
    @harknowhere 4 года назад +14

    Did she say my wife and I

  • @nonstopper91
    @nonstopper91 4 года назад +7

    My credit score is 838 and I’ve never paid any credit card interest in my life. I’m debt free with a credit limit of 200k. My car is paid off and i have a mortgage and that’s about it

    • @BiggSneaddd
      @BiggSneaddd 4 года назад +1

      Having a line of credit, doesn't mean ur DEBT FREE. That means u still have DEBT DUHHHHHH

  • @AxcelGamer97
    @AxcelGamer97 4 года назад +11

    Been 3 years with a credit card so far and so far I have never paid a penny on interest. Just need to be disciplined and live below your means, just as Dave preaches.

    • @insideoutsideupsidedown2218
      @insideoutsideupsidedown2218 4 года назад +1

      If you are using credit cards you are not living below your means

    • @AxcelGamer97
      @AxcelGamer97 4 года назад +4

      InsideOutside UpsideDown Wrong! I am considering it gets paid off immediately and I never once carry a balance.

    • @insideoutsideupsidedown2218
      @insideoutsideupsidedown2218 4 года назад +1

      @@AxcelGamer97 if you are paying it off immediately why use it?

    • @AxcelGamer97
      @AxcelGamer97 4 года назад +7

      InsideOutside UpsideDown 1. Because I can. 2. It’s a rewards card, so I’m getting something out of it. 3. It is factually safer than a debit card or carrying around a lot of cash.

    • @insideoutsideupsidedown2218
      @insideoutsideupsidedown2218 4 года назад +1

      The reason those reward programs exist is because the banks bring in so much money from 7 out 10 people who do not pay off the balance and carry that balance for sometimes years on the accounts. Banks are in this game to make money and if that trend were to reverse, those "reward" programs would vanish. If you have an income where you can pay for things outright and have not use a credit card, why are you worried about a free 2 night stay in a hotel?

  • @ronhamm
    @ronhamm 4 года назад +11

    Dave, maybe my wife and I are the exceptions. We have a 839 credit score and have not paid interest on our credit card in more than 5 years.

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      ronhamm wow I still can't believe it as I'm getting the sum of 10,000 USD dollars every single day just with a blank ATM CARD given to me by hacker Justus

  • @cyndisays
    @cyndisays 4 года назад +1

    Everyone know the answer if you want a zero score close all the cards if that is your goal. You can’t get car loan but a house. More importantly they living in car close everything down and out!!!! In meantime go to homeless shelter.

  • @Gubhana100
    @Gubhana100 3 года назад +2

    Did I hear her say my Wife? 🤔

  • @jeremybrown-HelloJayBird
    @jeremybrown-HelloJayBird 3 года назад +1

    Dave’s face just looked more and more confused...🤣

  • @BarlowJacob
    @BarlowJacob 4 года назад +1

    If you're going to close the credit card after it's paid off you might as well close it now and then work on paying it off.

  • @jvolstad
    @jvolstad 4 года назад +1

    Leave the credit card open and just use it to buy groceries or gas for the car. Be sure and pay the card off in full each month.

  • @djpuplex
    @djpuplex 4 года назад

    I live in my van it's not bad if you don't have kids and can tough it out. Better than working all day Monday for taxes, and Tuesday-thursday for rent/mortgage. Ever wonder why people work 7 days a week.

  • @wintergoddess8210
    @wintergoddess8210 4 года назад +1

    Thanks for this video Dave be well .

  • @enchainedtreasures
    @enchainedtreasures 4 года назад +3

    Dave's reactions at 0:14 & 0:23 made the tiny home bus part reactionless. He already was too shook. LOL

  • @jamesmyers6739
    @jamesmyers6739 4 года назад +2

    I have close to 800 and didn't pay any interest... Besides students loans

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      James myers text him on what's app +1(206)-415 4732

  • @massive670
    @massive670 3 года назад +1

    Yes Perfect advise! Because the lady that was living in her car can just buy a house with cash.

    • @tinytim8173
      @tinytim8173 3 года назад

      Yep everyone I know who lives in their car can easily afford to pay for a multi family investment property in cash. This Dave guy is a genius.

  • @Fullrusher
    @Fullrusher 4 года назад +3

    Has anyone ever don’t the mortgage underwriting thing with the company Dave suggests ( church hill ) ? If so I have questions real quick

    • @YaBoyNigeMakinMoves
      @YaBoyNigeMakinMoves 4 года назад +2

      This is a tricky process that is a lot more difficult than a traditional mortgage approval process. The odd thing is, Dave suggests this process, however the underwriter still looks to see how risky you are as a borrower and looks at payment history and credit score. It can be more expensive as well as not allow you to purchase the size property that you need for you and your family, as the rates can be higher than a traditional mortgage, due to the risk involved by the lender. When Dave suggests this process he does not mention these things. I'm not sure what state you are looking to purchase but you may always ask me and I will attempt to answer your questions. 🙏🏽

    • @Fullrusher
      @Fullrusher 4 года назад +1

      YaBoyNige Makin Moves I’m in New Jersey , in the North Brunswick area, a year and a half from now is when I’m considering , either a foreclosure, or a land with a mobile /manufactured home , or just going with a traditional mortgage

    • @YaBoyNigeMakinMoves
      @YaBoyNigeMakinMoves 4 года назад

      @@Fullrusher Awesome. I'm not an expert in Real Estate in the New Jersey area, but if you have questions about the process when the time comes, feel free to hit me. I can walk you through it.

  • @originalshadow93
    @originalshadow93 Год назад

    You won’t every pay interest if you live within your means and pay them off at the end of the month.

  • @1312cc
    @1312cc 4 года назад +2

    I have a 780 FICO score Dave, AND, don't pay interest.

    • @1312cc
      @1312cc 4 года назад

      Who cares? You missed my whole point! Dave said to get a score of 700 or 800, you had to have paid hundreds of thousands of $$$'s in interest. I pointed out that is incorrect. Listen to the segment!

    • @1312cc
      @1312cc 4 года назад

      Close enough for all lenders though, so...

  • @Brokeasweat
    @Brokeasweat 4 года назад +1

    I already knew the answer before I clicked the video

  • @ducaty100
    @ducaty100 2 года назад +2

    Excellent, but I would say keep one open for emergency you never know, also use one that give you cash back and as soon you buy pay it.

  • @yodaflyz
    @yodaflyz 4 года назад +1

    I have one open credit card from my bank that I do not use. I only keep it around so I can say I have a credit card whenever my bank wants to beat me over the head with getting there credit card. Perhaps I should put that credit card to use one day as a drink coaster so it's not completely useless. XD

  • @brandhark7935
    @brandhark7935 7 месяцев назад

    But does manually underwriting give you a higher or lower interest rate?

  • @bgibson5517
    @bgibson5517 4 года назад

    all it means...and now I'm taking the first step.

  • @SeeSaw99
    @SeeSaw99 2 года назад +1

    This is Jeopardy
    I'll take "At what moment" for $1000
    Answer: at the 28 seconds mark.
    Question: At what point in the video did Dave completely stop listening to her?
    😆 🤣 😂 😹

  • @firebug1892
    @firebug1892 4 года назад +6

    Cathrine: my wife and I ....
    Dave: 😞
    Lol

  • @Dancefmlivecom
    @Dancefmlivecom 4 года назад

    Hay Dave, I'm in the UK its different here it's better to leave cards open on £0.00 cards. + you can't get home's here on 0 credit score here, you need to have a job and have at least 5% of the home your buying as a deposit towards the morgage. There is no 100% lending anymore Banks don't do that anymore.

  • @mair18
    @mair18 4 года назад +1

    If you pay off your credit card and don't use it for a certain amount of time the credit company closes it, well at least from my experience.

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      Ms Mary contact him on what's app +1(206)-415 4732

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      Ms Mary contact him on what's app +1(206)-415 4732

    • @cattsmahal1005
      @cattsmahal1005 4 года назад +2

      Yes. After 2 years without activity, they will close your account.

  • @freshurb8963
    @freshurb8963 4 года назад +6

    "HER, Wife" ?

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      Fresh Urb text him on what's app +1(206)-415 4732

    • @greenAbbot
      @greenAbbot 4 года назад +1

      Congratulations. Your ears still work, even though you’re 80.

  • @tucoramirez9729
    @tucoramirez9729 7 дней назад

    My skin crawls every time she says her wife, so disturbing

  • @Cesar-Avila
    @Cesar-Avila 8 месяцев назад

    I have a very high credit score and use my credit cards as a debit card and haven’t paid a cent of interest in years. In this scenario is it a bad idea to have credit or close an account?

  • @douglassmith9445
    @douglassmith9445 4 года назад

    With manual underwriting, wouldn't the chances of a higher interest rate on a home be greater?

  • @IHCgraphix
    @IHCgraphix 2 месяца назад

    I wonder if Dave's business accepts credit card payments from people purchasing his "Peace University" courses or products 🤔

  • @Snacks1991
    @Snacks1991 4 года назад +4

    It's so much mixed emotions when it comes to this, what is it really because I want to pay my $1,600 card off and close it.

  • @caddyshack68
    @caddyshack68 4 года назад

    Like with any guru don’t do everything 100%. Evaluate your own situation and make a determination

  • @kimkoons4535
    @kimkoons4535 6 месяцев назад

    dont you have to havefico credit to even buy a home?

  • @user-df2uu4tq6d
    @user-df2uu4tq6d Месяц назад

    It’s 2024 unless you’re a millionaire credit cards are almost impossible to avoid

    • @raiderjedi4160
      @raiderjedi4160 Месяц назад

      Not true, it just makes it to where you can only spend what you have. I will say it’s annoying when I rent cars or hotels because they put a large hold, but that’s probably the worst part for me.

  • @Officialerikledezma
    @Officialerikledezma 4 года назад +1

    LEAVE IT OPEN, as long as you don’t use it you’re okay!

  • @ien2023
    @ien2023 4 года назад +10

    I close one credit card and my points went up 10 points!

    • @lilliansanders5470
      @lilliansanders5470 4 года назад +3

      I thought if you close a credit card your score goes down

    • @tonniebeck8212
      @tonniebeck8212 4 года назад +6

      Mine went down and I didn't care! It feels so good to know that I can't repeat my mistakes again. Thank you Dave for inspiring me.

    • @lilliansanders5470
      @lilliansanders5470 4 года назад +1

      Tonnie Beck i just paid off all my credit cards debt free !!! I shredded 2 credits

    • @lilliansanders5470
      @lilliansanders5470 4 года назад

      Cards iam gone to let the company cancel my cards iam gone to keep one card because you need a good FICO score just incase i want to move

    • @sarahbrooks5626
      @sarahbrooks5626 4 года назад

      @@tonniebeck8212 text him on what's app +1(206)-415 4732

  • @wulver810
    @wulver810 Месяц назад

    I pay 0 interest, and got THOUSANDS in investments that are growing... HAHAHAHAHAHAHAH CASH DOESN'T GROW!!!

  • @ThePeterDislikeShow
    @ThePeterDislikeShow 3 года назад

    Recorded a day before the pandemic. I wonder how it played out.

  • @sunnydays4966
    @sunnydays4966 4 года назад +1

    If you have electric bill or any bill of any kind you have credit score will be matain.

    • @dieyoung8259
      @dieyoung8259 4 года назад

      Spell check your post please...dufus

  • @Jerbrousky
    @Jerbrousky Год назад

    He literally didn’t help her at all.

  • @JoshuaCookLibertyIsRising
    @JoshuaCookLibertyIsRising 2 года назад

    Wow makes sense here

  • @empresslonnie1love391
    @empresslonnie1love391 4 года назад

    You just made a lot of sense 🧐🧐🧐🧐

  • @aubreytraverse.
    @aubreytraverse. 4 года назад +2

    PAID AND CLOSED MINE TODAY!

    • @SAreamusic1
      @SAreamusic1 2 месяца назад

      Exactly! identify theft is real. I had a 0 balance and didn't close the cc, yet after 2 years someone charged $211 because the acct stayed open for any hacker. The lowering of FICO is BS and wrong but not worth keeping them open imo.

  • @alen-commentnazi8774
    @alen-commentnazi8774 2 года назад

    why did he end the call mad early

  • @FinanceConsumer
    @FinanceConsumer 4 месяца назад

    you paid a bill thats what a credit score is you paid a bill BILLSSSSSS things that people dont want to pay

  • @chrisbaron1706
    @chrisbaron1706 3 года назад

    he didnt answer the title of video realy