Dave Ramsey is Wrong About Credit Cards

credit card interest rate reduction


Have you heard of Dave Ramsey? I greatly respect the man and what he has done in America in the past decade, but you may be surprised that I do not agree with what he teaches about credit cards. Dave Ramsey has a very simple view when it comes to credit. He wants you to pay them off and cut them up, never to use them ever again. I say that Dave Ramsey is wrong about credit cards.

Where Dave Has It Right

Our world has grown accustomed to instant gratification and has financed much of their possessions. This has increased the popularity of credit cards and has made Visa and Mastercard very wealthy companies. For those that cannot control their spending, Dave Ramsey is right. They should not have credit cards. It’s better to live a simple, safe life on a debit card than to live every day . . . → Read More: Dave Ramsey is Wrong About Credit Cards

Credit Card Dos and Don’ts


If this economy has you thinking about using credit cards for the cash back bonuses, you may want to think twice. Using credit cards effectively can be beneficial because you are earning money on the stuff you would normally spend anyway, but it can be dangerous and make you think you have more money than you actually do. In order to protect you from going into large amounts of consumer debt, consider these five do’s and don’ts when it comes to credit cards.

Credit Card Don’ts

DON’T Treat credit cards as a loan – The last thing that you want to do when it comes to using credit cards is to treat them as an easy-to-qualify-for loan. If you are wondering how to pay for college or any other major expense, you should consider other options first. While I always tell people to avoid debt of any kind, credit . . . → Read More: Credit Card Dos and Don’ts