Reality Of Credit Cards
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- Опубликовано: 26 сен 2024
- In today’s era, be it credit cards or debit cards, plastic money is mainstream. Over time, Credit Card has become one of the most used and preferred modes of transaction for hundreds of thousands of customer for their needs. What makes it a preferred mode, is the buy now and pay later scheme, Ease of use, EMI facility or rewards and bonus. Who really pays for these facilities?
Do these facilities come at “no cost” or are we paying for it without knowing much? Let's discuss the in and out of credit cards, how they work, the backend, the charges involved and all the hidden charges.
0.00 - 00:41 Introduction
0:41 - 02:37 Credit Card
02:37 - 03:15 Credit card cycle
03:15 - 05:41 Network Company
05:41 - 08:10 How do network companies and banks earn
08:10 - 09:22 Knowledge Partner
09:22 - 10:50 How issuer bank earns
10:50 - 13:04 How no-cost EMI works
13:04 - 15:21 How we should use a credit card
15:21 - 18:00 How to Use Credit Card
18:00 - 18:144 Knowledge Partner
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About the Channel:
Nitish Rajput firmly believes that there are adequate tools available online, and people can be brought together, informed, and educated collectively.
Social media and the Internet have the power to create any narrative but this channel will use the same to curate a healthy, informative narrative that can genuinely benefit people in forming an opinion that is backed by facts and uncompromised information without any bias. Nitish Rajput wants to empower and facilitate people to challenge atrocities and become more vocal about issues plaguing Indian society.
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Ok
👉मनी क्लब एक ऐसा ऐप है जहां सब कुछ बस एक एंड्रॉएंड्रॉइड फोन से बचत, निवेश और उधार कर सकते हैं अपने
घर पर बैठे बैठे।
मनी क्लब में जुड़ने के लिए आपको हर रात 8:30 से 9:30 अपने ऐप पर आधे घंटे के लिए एक्टिव हो ना हो गा
जहां पर 15 मिनट के लिए बोली लगेगी और जो भी सदस्य विजेता होगा उसे अपना प्रॉफिट घटा कर पेमेंट करना होगा ।
Thanks❤❤ God help
Maina to 6mnth s bhi jada jhoot bol k logo ko credit card dia h🤣🤣🤣🤣
Kafi logo ki jindagi barbad ki h matlab maina
@himanshu badole mai batata hu
“A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain.” - Robert Frost
pearls of wisdom👍
Credit Cards पर Dhruv Rathee ने तो ऐसे बताया है जैसे ये होना ही चाहिए और आपके कहने का मतलब है ये लेना ही नहीं चाहिए।
@@जयभारत-च4श ji nahi. Credit card ko sahi tarike se istemaal kiya jaye to ye bahut achi chiz hai. Responsibility is the key
@@जयभारत-च4श जब तुम्हारे पास पैसा रहेगा तो उधार (credit ) क्यों लोगे ?
और जब पैसे है नही, और तुम उधार ले रहे हो तो उसको वापस करने के लिए पैसा (जो कि तुम्हारे पास है नही) कैसे वापस करोगे ?
@@maybepoet8148 bhai paap mt kro credit Krna galat hain
Two quotes came to my mind after watching this..
1. "If you buy things you don't need soon you will have to sell things you need."
2. "When something is for free always remember you are the product."
Heads off to u. U r very true
really wise
Damn!!
True
👍
Nitish Bhai is a brother we need in our life 🙏
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Catagory 👈
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1. Business 👈
2. Motivation 👈
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4. Future Planning 👈
Bhai Ye GST ka kya funda he me apna statement check nahi karta hu.... Kya ye har Transaction like Paying on Amazon, Flipkart, Jiomart, Card swipe in Hospitals, merchant/department store , Electricity bill, Recharge, LPG booking, Credit card bill payment pe Lagta he
Note - I pay all my dues on time not only minimum due amount... & never use emi option / Cash withdrawal or flexi pay...
Bro Credit card me OTP kyu nhi aata hai
Credit Cards पर Dhruv Rathee ने तो ऐसे बताया है जैसे ये होना ही चाहिए और आपके कहने का मतलब है ये लेना ही नहीं चाहिए।
Mehnat karni sikho nitesh bai kitna sikhte ha fir agge bta te ha bai
Some additional insights - all interests charged by Credit Cards are compound interest, applied monthly. So, if credit card charges 3% per month, it’s ~42.58% per year and not 36% per year.
Always ask for “annual effective rate” whenever you take any loan or credit card.
awareness!! awareness!! awareness !!
Here's heroic entry of Nitish sir .
Thank you sir . It's informative helpful.
@Shivam Tiwari Bhai uski v jindagi h kuch ....khana peena (water cold drink 😂) usey v h...
@Shivam Tiwari yaa it is ryt...
@Shivam Tiwari bhai tu bhi karle
@Shivam Tiwari yes you are right even many times he is Misguiding youth with comment like marks doesn't matter and all, and all this he is doing for earning money all these paid promotion and add revenue everything for money and all these stupid think that he is some super human with lot of knowledge
@Shivam Tiwari what's wrong in earni money, everyone does something to earn money only.
Using Credit Card From Last 6 Years. Never Missed Any Payment💯 & Saved Very Much. It is Very useful if u use it wisely 🙂
True
Pakka bank wala hoga chutiya
Very true
Very true and I don't understand his interpretation of no cost emi...looks like this person is laking knowledge...
@@MrDimah123 what he said were facts . Even he said at the end that credit cards are good if you use them correctly but no cost EMIs are actually a scam
Nitish bhai is like senior citizen of every home, who gives the best advice in simplest words and straightforward
But not in ever family are wise or give best advice every time. Sometimes they are like a piece of damn SHIT!
This man is a legend and everyone watching this entire video should bow down to him... He explained everything which no one ever explained to me ... I have been using credit cards since last 6 years and have seen this no cost emi crap taking gst on interest but this man explained in layman term..❤
This man is real hero to open everyone's eyes. You nailed it man. Hat's off! Stay blessed always.
Credit Cards पर Dhruv Rathee ने तो ऐसे बताया है जैसे ये होना ही चाहिए और आपके कहने का मतलब है ये लेना ही नहीं चाहिए।
One day a bank guy offer my father credit cards and simply said him that "dekh bhai hamko Mere father Bachpan se bole hai udahr deker Saman nahi lene ke liye bhale hi Saman 5 day baad le ye 5 mahina baad tab lenge jab paisa hoga pass me".....and today I came to know that my father did the right things
Same here 😀
Elder knowledge
What does it mean ?
Pls that's really two sided comment.
Agar aaj mere paas full payment nahi h vehicle/house lene ke liye, gara main wait karunga ek saal inki kimat atleast 10% badh jaegi ek saale ke andar.
Maine bhi wait kiya tha ki harrier cash mein lunga picchle saal aaj wahi model 2 lakh rupees badh gaya h.
Same for the house, mere dad ne 5 saal pehle 60 lakh mein ek flat liya tha in pune aaj 5 saal baad uskk kimaat 1.8 crore h, kaha se layega koi middle class 5 saal mekn 1.2 crore extra.
Same wahi rona h iPhone ka pichhle saale 14 pro max 1.35 lakhs ka tha launch pe, aaj 15 pro max 1.6 lakhs ka h.
Main Bajaj Finserv use karta hu for no cost EMIs pure 1.35 lakh pe sirf extra 3000 lage upara se 2 saal ki EMI kari, chahta toh 2-3 mahine save karke khareed leta but salary se sirf 5759 jaa rahe h har month aur kya pata agle saal iPhone 16, 2 lakh ka ho jaaye !
Aur jo money save ho raha h uski SIP kar raha hu, imagine sirf ek phone ya car lene ke liye SIP rok du 2-3 months bahut nuksaan hi jaega aise mein.
Be smart !
I have worked in credit card for 2 months i can tell you most mistakes people do is
1. Not paying before due date
2. Cash withdrawals using cc
3. Not knowing benefits and other annual charges since most employee misinforms customers
4. Not Redeeming rewards points before the validity ends
Most cc charges are applied on daily basis
Most people misuse credit cards. Banks shouldn’t be blamed for it.
Last point is very much true , i hv heard but can't get it. I'm using CC since 2019 & cs is 800+
@@tapankumar1668 banks r looting peoples money with 60 % to 100% interest every year + many other charges and penaltyb - actallly it is compound interest
interest rate should not be more than 18% honestly speaking
All credit Card company are fraud
exactly... i have been working in credit card retention. so I totally agreed with you 👍
You explained banking and transaction processing so well...Good job ...
Pro tip : If your buying habits are not good and you tend to do a lot of online shopping , Don't own a credit card.
Or trying earning more to support your lifestyle.
Banks spend millions of dollars to analyze and create strategic approach for you to have a credit card.
There is no individual on this earth that can only use credit card for good habits beside even if you do, you’re still paying the transaction fee, which is not visible. Since they charge vendor. And vendors increase their merchandise prices to cover that.
Cash is the best way. If everyone switches to cash, then vendors will stop installing machines that takes cashless payments. That’s how Visa and MasterCard loses.
@@ranveerjaipuriyar0710very bad advice, even extremely rich people go bankrupt cause of their bad spending habits
Things schools don't teach are always the ones you're gonna need the most.
Syllabus & teachers hi bakwas he India me Kya kare... Syllabus should be of global standard obviously with Touch of India & little bit of State also. One Nation One Syllabus will help students.
@@Honesty361 _one syllabus one nation_
You don't know first thing about children and their development. Just because you were once an student that doesn't mean you know everything.
Nobody should use credit card ..They charge interest monthly in the name of Minimum amount
It depends from person to person...... I don't use it for unnecessary purchases...... At the end of month, I get a cashback of rs. 1000+ ...so.. yeah... it's working pretty well for me...
Not A universal Statement, I have never paid a penny since 1.5 year
Good then, I will use credit card by linking it on UPI soon
@@salman55855 how you get cashback of 1000
@@upendra6916 use amazon pay icici credit card one of the best card...
Sir aap keh re ho ki jiski salary 30 se 35k h wo bhi iphone kharid re h yaha 7 se 8k wale bhi iphone kharid re hai😂
I have been using credit cards since 2017 . In first year I paid lot of interest to bank.
But from 2018 i have been using same credit cards very carefully and asking bank for offers and more and more rewards.
I am trying to compensate my losses of first year. So use credit cards very very carefully.
I used credit card to make my credit score. Every single month I used to make full payment 100%. And now my score is 800+ less than a year. From 0 credit history to 800+ credit score is a good use of credit card. I recommend this mindset to every bachelor. We can live a better living than before for damn sure.
Uss credit score ke liye kitne extra kharach kiye?
Ha bhai sahi bola apne. Main ek student hu. Mujhe kahi credit card nhi mil rha tha. Mera cibil score generate hi nhi hua tha. Fir mujhe Flipkart ne pay later ka offer diya maine accept kar liya aur 8 months achhe se use kiya. Aaj mera cibil score 769 hai aur jante ho sirf cibil base pe hi mujhe SBI ka simply click credit card mil gya. Bina kisi documents ke. Credit card achhe se use karo to bahut achhi chiz hoti hai. Ye nuksan unhi ko karti hai jo discipline nhi hote
@@ayandey137 sab koi tumahari trh nhi hota bro bina matlab ka kharch krne lagte hai. Hmlog to bas wahi chiz kharidte hai credit card se jo daily use me aata hai jaise gas booking, mobile recharge, fiber recharge. Hm to thik hai baki apna dekho
@@AbhishekSingh-tf8eo can you tell how you got sbi simply click credit card??
what was the process, from where you applied it ??
@@ayandey137 aur bank tmko gale pe chaku rakh ke credit card nhi deti. Har kisi ka approve nhi hota. Isliye tumhe ya tum jaise logo ko ye khatarnak chiz lagti hai to simple ek solution hai mere pass. Credit card lo hi mat. Khatam baat
Watched one of your video (Regarding GDP) 3 days back, since then not only just I've subscribed your channel but also have watched all your videos till date. I must say you are an excellent orator with such well researched content on various topics. Kudos!
sahi bole.
❤️ ❤️
Ab sb ko tu gayan dy rha hoga.
Credit Cards पर Dhruv Rathee ने तो ऐसे बताया है जैसे ये होना ही चाहिए और आपके कहने का मतलब है ये लेना ही नहीं चाहिए।
Thank you friend for giving very good information
Hats off.. the clarity of thoughts in presenting the reality is amazing... Great work...
I have been using credit card since 2020, got it when I was still in college. I have been using it wisely, never missed any payment, paid in full. Currently have a cibil score that's 800+ and credit limit increased by bank itself, all while unemployed. It's just about how you use. What Nitish said is true as well, it's a double edged sword.
Edit: Ffs, it's a typo, get over it
thats bcz ur father is rich
@@SuBhAmVLoGS exactly
Do some work bruhh!
Absolutely Hrithik. 👍
@@deathisontheway4656 🤣
This is very educational video, Thank you Nitish for educating us on this important topic.....😊
Thanks Pratush
@@NitishRajputभाई आपसे निवेदन है एक बार हेल्थ इंश्योरेंस पर वीडियो बनाएं ,और यह भी बताएं
कि कौन सा हेल्थ इंश्योरेंस सबसे बढ़िया है
@@NitishRajput all of your contents are informative, educative and thoroughly realistic Nitish Ji
@@NitishRajput Hi Sir Make Video on Why Bank not Provide home loan to common Man
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Catagory 👈
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Please Consider :-
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1. Business 👈
2. Motivation 👈
3. Share Market 👈
4. Future Planning 👈
I don't know why but this is happening with me for the second time that the topic that was in my head for about last two days, nitish made the video about that only
1. Network marketing
2. Credit card
Plz everyone share your experience as well
Few things which have changed since:
1. There are UPI credit cards which allow wallet recharges, etc. free
2. On default, on certain occasions the default is waived off or settled at a lower amount which makes credit card payment a last and not 1st option. This comes at the cost of the cibil rating i guess
As always, informative, valuable and brilliant. You always drop my jaw with your knowledge and explanation.
I'm Searching RUclips Partner Expert for my Monetize Channel any body interested So Please DM me 👈
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Catagory 👈
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Please Consider :-
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4. Future Planning 👈
Credit cards can act as a pay-delayer (up to 50 days) if using it wisely. This can mean that if you know you can pay back the next month after salary but you really need something right now, you can buy it by 'borrowing' from the bank. The problem happens when we are stuck in a loop and keep on purchasing more and more as time goes by and we become comfortable using our credit card everywhere.
Bhai but tbh mai ye soch ra tha ki 50 days me b aisa kya hi ukhad jaega...isse accha mai sochta hu ki credit card se door rehna hi sahi hai....
@@sabkaBaap007 Agreed....too much tension and hassle
@@sabkaBaap007 Good for people like me who travel for work, as we need to pay for our hotel & food, and you don't always have the advance. Most of the cases, we do reimburse.
Exactly, credit card chutya logon ke liye bana hi nahi, for exa : Jo log Paisa udhar leke wapis nahi krte eise logon ki buri adat hi bank ko profit bana ke denga
@@iabhinav6691 wahi to normal banda jiski aadat hai limit me kharch krne ki aur jo time se lauta deta hai usko kya kaam credit card ka... Kuch log kehte hai ki aap jo 45 days ka time period hota hai uspe ek taraf ka thoda interest kama sakte ho but wo b kuch khaas cheez nai hai kuki jo limit me kharch krta hai wo waise b bht faaltu kharch to krega nai
I regularly using Credit Cards with on time payments. Just be sure to pay the full bill every month and enjoy rewards. 👻
Credit card does not improve CIBIL
Thank you brother. Fantastic explanation and delivered the facts practically. Hatsoff u
Great insight into the bank debt trap. Most people don't realise what they get into with credit cards. Best way is just live with what you have. Been there done that. Now no credit cards no stress.
Great work Buddy.
I hope People open their eyes after watching your video👍👍👍👍
Nitish - great content and even greater delivery. A lot of times I already know about the knowledge you share but I still like listening to your content because of the way you present these facts. You have ton of potential.
In the No-Cost Emi trap, they're also charging MONTHLY_ EMI processing apart from NO_COST_EMI processing
Pure knowledge, really loved the video!
Your videos really informative and knowledgeable... Hats off to your research and deepth knowledge
I have subscribed your channel bhaiya because of your in depth and unbiased analysis
Me also ♥️
Nitish bhai is absolutely right. I also foolishly accepted the Flipkart Axis Bank Credit Card. After taking it I saw its joining fee is Rs 590 + the EMI processing is Rs 250 + the interest % on EMI is 18%.
No other Bank credit card charges you 18% interest rate on EMI.
So i have decided i will make a full payment and close my Credit Card.
I advise all to do the same if you are not a shopping spree
I got call and i know few questions ..to ask the telecaller got irate and disconnected call 😂
Have u closed this card??
You should haven taken when there was LTF offer.
No credit card. I have debit card only. If you dont have money now you shouldn't be buying it. It's a debt trap.
Credit Cards Are Blessings For Those Who Don't Need Any Credit.....
ruclips.net/channel/UC-YsgguirsQ5m5j5ZpcQGsA
True...
True 👍
True bro
Using credit isn't bad idea it's all about economy situation. loan can be good during hyperinflation, inflation, and can be bad during disflation or deflation.. few will understand
@Shivam Shukla that will further increase inflation. wrong application here. I'm guessing you're taking about unexpected inflation. during this situation should decrease intrest rate so ad will decrease and price will decrease. it's just demand push inflation.
That's what he said in 14:48
ruclips.net/channel/UC-YsgguirsQ5m5j5ZpcQGsA
Nice video and way to go on awareness. I had seen multiple people going in debt trap after using credit card.
Great video bro ...
Learned many things...
Credit Cards are important to steadily increase credit score but should be used very cautiously.
You are great, you never disappointed in your content in any way. It delivers perfectly always👌🏻
Suprb research and eye opening facts about credit card trap. This is beneficiary content. Thanks Mr. Nitish
You tube pe apke jaisa koi banda hi nahi hai..🔥🔥🔥🔥
THANKYOU BHAIYA 👌
FOR EXPLAINING THIS TOPIC VERY BRIEFLY AND IN FACTUAL MANNER ❤️
ALWAYS LOVED YOUR CONTENT 💝
I am along with you a long time, your all videos teach us somthing different and we understand the deapth the topic, I recommend your all video on my all social media platforms and last thanks to you to give us important information and life lessons, love you brother ❤
Mrs. Cecile is the right person to start trading cryptocurrency with.. she knows her way around the crypto world.. she has been helping me increase my investment every day for over months... She is a genius, have made close to 1btc through her
Wow, I'm surprised someone mentioned that expert Mrs Cecile thought I was the only one trading with her.
She helped me get back what I lost while trying to trade.
I agree with you
I am not here to talk to about her, but to testify to something that I am confident and that I am sure is the best option ever.
I am also a live witness to the expert Mrs Cecile .
Amazing you cleared all my doubts ❤❤
Good person with good knowledge ❤❤
हा ना
ruclips.net/channel/UC-YsgguirsQ5m5j5ZpcQGsA
One point : Amazon offers the interest cost on "no cost emi " as an upfront discount on the product , so it is indeed zero interest EMI , except of course the GST on interest amount and processing fee which goes out from the customer's pocket
The same Bajaj Card works 😉
And sometimes there is no processing fee at all.. i never paid once ..
@@TheVinodkumar2692 The GST is not collected by credit card company on the entire 79k. It is collected by the seller of the phone irrespective of the payment method. The GST under discussion is GST collected by credit cards on processing fees or convenience fees or EMI
The main problem is you lose on instant discount and other offers which are anywhere between 5-15% so indirectly aap zyada pay kar rahe ho
@@its_maalik no you do avail all the availabe instant discounts. I do use a lot of no cost emi's.
Nitish dear ......very well done. You have explained the entire scenario in a very simple and interesting way. Even a layman can understand the way you have beautifully explained it. Good going and keep making such informative videos. Wish you all the best and will wait for another valuable piece of content.
Sir aap ke batane se pahle khan sir is type ka video youtube pr daal chuke hai but aap ka bhi samjhane ka tarika bahot kamaal hai love u from mumbai
Very informative video Nitisha bhai, I was realised that No Cost EMI and Minimum pay is really a trap, everything you have told about credit card is 💯%right. Thank you so much for your information ❤️❤️
That was brilliant, absolutely brilliant. Have been using credit card for almost 10 years now. Nobody ever told me all this. Great job Nitish.
Everything is working so well and good. Respect to all those peoples who have worked to make things better.
Very knowledable video, Thanks For knowledge❤
This is why mostly international countries have their population using credit cards, where they are unknown by these economic facts. Big companies and transactions sometimes make it compulsory to have a credit card to do a payment which pushes us to buy one. India initially had a greater number of people just having debit cards, but the trend seems to change as credit card users have increased in recent years.
True and If you want to book a certification exam from Microsoft or AWS, they also make it compulsory to use credit card for online payments, and transactions are again in $
Meanwhile UPI is laughing at the corner and😂😂😂
This is very IMPORTANT videos I Shares my friends and family members to understand this topics ❤️ Lots of love Nitesh Bhaiya from Mumbai
Nitish bhai I was waiting for ur latest video....Again got valuable knowledge with very easy explanation....Tysm....Jai Hind🇮🇳🇮🇳🇮🇳
Very nice explanation about credit card. This is very helpful for those people who don't know anything about credit card.❤
Thank you sir for your in-depth analysis and precious advice..
Your way of explanation is just awesome. Kudos to you❤🍃
My Brother Suggesting Me for Credit Card. But Before taking any step I wanted to know more about it. This video helped me to clear lot of My doubt. Thank You Nitish Bhai.
This is just one side of story sir ji.
If you are a die hard saver, credit card is a boon to you! If you are disciplined, then also credit card is great. I have 13 cards, not missed a single payment and pay it in full.
@@rohitchoudhari9648 I'm also a saver & Government employee. I didn't said Credit Card is bad or anything, I said with this knowledge I can take more Cautious decission rather than falling into a Debt Trap.
Informative 👍 Par Credit Card Kahan par use Krna h o to bataya hi nhi😂
This Video is Gem Man!!
Ur Genius and Master of depth anaylisis...
Iam getting phone calls from bank to take credit card and I was about to take it but now I changed my decision . Thank you very much sir for your valuable information. Your videos are always helpful to educate the educated person with facts.
Take but use wisely
There is no harm to take a credit card. But make sure to pay by due date
Nitish Rajput sir= awareness,thankyou sir lots of love for educating us…..
We are proud of you!!
Partially true for No cost EMI because nowadays banks provide No Cost EMI with discounted rate of the amount which is charged as interest. So ultimately becomes actual No Cost EMI. Also for LIC payment does not charge extra with Credit Card payment. Overall very useful info 👍
Only the interest is given upfront discount for No cost EMI. But you have to pay 18% GST on monthly Interest. Processing Fee + 18% GST
@@TheVinodkumar2692 Still it's economical, no cost EMI saved me ₹500 on a ₹12000 phone.
@@shubhamkanwar4888 but they do charge processing fee. Which is technically not 100% NCEMI. ₹200 even matters.
I bought Phone from BAJAJ EMI. They charged me convience fee of ₹179 + ₹117 annual fee which were added in the 1st EMI. Technically I had paid 11,999 for mobile and ₹296 extra for processing charges. Kahir itna to banta hai. Ab har cheez free mein dekhoge to nahin milega.
@@shubhamkanwar4888 some cards do offer discounts upto ₹1500 .
@@makeawishbuddy Bajaj EMI and Bank Credit Cards are two different things. Lekin Credit card ka No cost EMI option hmesha beneficial rehta h, kyuki discount bhi milta processing fees ke hote hue bhi.
Kam se kam mne to AC, Multiple Phones, Washing Machine ...kuch or chota mota EMI pr hi lia and Cash payment se kam hi pay kia.
I have shared some videos of you to my friends before and this time I will definitely go by my old habit of sharing. Thanks brother. thanks a lot. You save us many times. #Hugs ❣️
Thanks for updating pros and cons of credit card....
Its looks like a debt trap...
I was shocked to know about the petrol pump usage, but I got relieved to know that every time I made a purchase I have received petrol surchage waiver, but yes every time I have been charged extra 6 rupees for around 3500 rupees transaction.
- Adding wallet money to Amazon pay doesn't charge any money.
- Paying insurance from credit card i have never seen any charges or GST
This! I wonder why he said that.
@@parulkubba I guess Amazon credit card holder even gets cashback for insurance paid.
absolutely right sir !
i saw many people act like a king when they get their credit cards & after some time become a beggar to pay charges 😅 personally i was thinking to get a credit card but now i will play the safe game and stick with my debit card , thankyou
bhai jis din tu credit card ka logic samajh jaega us din khud bheekh manega credit card banwane k liye
@@utsavlakhera1043 logic to hai bro lekin adt khrab hojati hai , agr koi control kr ske tb to achi chiz hai c.c
the most detailed and simply explained video on credit card scams!!
thanks sir
😊
Very Very Nice information & presentation 👌 👌
Thank for the detailed explanation. I am from the payment background and i loved the way you explained the entire payment cycle. For me credit card is blessing for a human being if one is good with re-payments and have control on your spending.
I am using Credit Card since my first job where I earned in just 4 digits. I have a decent salary now, the credit limit has increased drastically. But, I have not paid even Rs 1 as fine till date. I keep a track of my credit card spending. The fact is that I use the reward points every year. Although it is small, but I remain in profit.
The point is that Credit Cards are good as long as you can use it wisely. It is like fire - good slave, but a bad master.
@@AbhishekSingh-tf8eo According to me 1 Credit Card is enough. If you can manage 4, it is good for you. Even I buy everything from ration to booze using CC.
But Banks are in more Profit, And Dukandaar in Loss, So support our Dukandaars who give 3% to Banks for Nothing.
@@AbhishekSingh-tf8eo kya be idhar bhi gyan pel raha hai 🤣🤣
Bhai ye he toh samjha rha hai k कटता hai . Aap sab katva k ढोल pit rhe ho . Sahi hai
Real connotation should ne Mind instead of Fire
Thanks Nitish. I have 21 credit card. All are lifetime free cards. I kept them just to apply offer when I am buying something. For e.g. if I am ordering anything from Zomato and a CC has offer then I use that card otherwise I pay using wallet or cash on delivery. Never took any loan or never used unnecessary. I think this is best way to deal with this demon.
Your video given more clarity in terms of how these people earns.
doesnt that affect your credit score? like banks will think you’re credit hungry
@@Nikhil-hl2cz nope. Credit card is impacted by higher credit usage. My usage are less than 1%. For e.g. let's say for 21 credit card, i have maximum limit of 21 lakh (Assuming limit of 1 lakh each) but my total usage is less than 21k so it's less than 1%.
My score is 850+.
Thanks for such a useful video
Very interesting and to learn & know such facts. Thank you nitish bhai. I appreciate your knowledge on the subjects you pick up every time.
Credit card has a option for Chargeback, which many other payment instruments don't offer.
What's dthat?
ruclips.net/channel/UC-YsgguirsQ5m5j5ZpcQGsA
@@crosswalker45 ruclips.net/channel/UC-YsgguirsQ5m5j5ZpcQGsA
Thank You Nitish for creating such an useful content... Very much appreciated 👍🏽
I always use CC for my car fuel, I had no idea about the info shared on usage of CC for petrol/diesel.
You can fill the fuel, if u utilize ur money worthyly within the CC bill circle ,coz 1% surcharge waive in most CC Cards rest imposed gst charges is not a matter. I always filled fuel in CC and use those amounts in my business and earn better profit than imposed gst charges.
It's so informative .
thanks bhai❤❤
Personal loan is better than credit card..
You are only the man who changed youth mindset that how they think in current situation thank you much sir 🙏🙏🙏🙏❤️
SBI credit card user here.
I dont understand the Finance charges and payment dishonour fee. With so many unknown charges I'm now convinced that credit cards are a scam. Will close the account right away
Last part where he discussed the portals where we should use and where we shouldn't is the essential learning. I've used at all the wrong places and learnt them the hard way.
Every cash transaction comes with extra 500 INR deduction.
To come out of this trap, I used CRED loan.
Thanks for the video 🤗
I've used for the home responsibility.....I'm the only one who's earning , so because of the late payment of my cc bills I'm in huge debt I'm paying my cc bills continuously for a year , still I have a due amount of 1.25L and month by month it's increasing!
@@deathisontheway4656 take a loan and close it, as he recommended video.
Ossm level 👍🏻
Very true... Because of the credit card, my Cibil score was impacted.... Now my total due amount is four times more than the Principal amount within 3 years span only...
Ye video 2 yers old h bhai ka lekin kaha har ek bat m sachai h old is gold thanks👏👏👍
Meanwhile a bank guy called me to offer Credit card...but fact I don't know about the credit card How to use it..but You clear it all my myths about the credit card by through your this video...Thanks sir for guiding me..😇🤗✌👍
Hope U will get 1 crore subs in this year 😊 cheers
I doubt! As masses don't appreciate such amazing content.
I have subscribed btw.
Such an important information that we need to knows
Sir your video is really helpful for us 👍
Waiting for your next video💜
ruclips.net/channel/UC-YsgguirsQ5m5j5ZpcQGsA
Thnki so much bro. Valuable video for us ❤
I know, I'm using and going through, very well explained, Indeed each and every point is to be noted✅ Thanks brother
Thank you sir for giving wonderful Knowledge
Nitish Bhai you are doing great 👍 54 videos 1 million subs... respect $
Nitish rajput and dhruv rather we just Love you ❤