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Why Credit Cards Are A Scam – Honest Ads

Why Credit Cards Are A Scam – Honest Ads

want to have money without having money want to go to stores and get things because you want them then use my Horton card it’s reliable it’s no fuss it’s a fancy plastic IOU card that will have you swimming in debt for the rest of your and your offsprings life and to make sure you feel comfortable with spending money you don’t have we’ll use this comedian to make you feel like it’s no big thing I’m from that TV show that’s doing reasonably well so I’ve got a sense of humor about spending money on stuff I don’t need just charge my card buddy whatever it doesn’t really matter to me because I’m mostly excited to get cash back relatable now why use gross paper covered with pictures of dead guys when you can use my square piece of dinosaur carcass with numbers on it in fact nowadays you have to have a square of recycled soda bottle because how else would you even be able to purchase your online subscription to watching what used to be free or paying for an expensive education that won’t lead to a job really any financial milestone that’s right to get a roof over your head you need to earn credit which is really just showing you own a little square that you have to pay off continually somehow that’s what makes you trustworthy and shows you’re good with money we’ve made it impossible to live without our plastic numbers Swiper we’re putting chips in some of them nob look at that it’s kind of a pain in the ass also a pain in the ass you can’t even use these everywhere you can use it in some places that pay me to accept your card otherwise you can just use money which is what people who are taking your money would prefer I’m an expensive middleman who’s charging everyone extra for using my plastic cutout also you’ll probably need a different swipe e Swiper when my card doesn’t work at one place where another one does work is it harder to keep track of how much you’re spending when you don’t physically see the presidentially decorated paper strips leaving your hands we’re counting on it especially when we encourage you to go paper we’ll say it’s for the environment but it’s really because we know if we send you emails if the charges you made you’ll only skim the email if you’re reading them at all here’s where it gets fun for me and exclusively no one else we made it so the longer it takes for you to be able to pay us back on time the more money you’ll rack up an interest and the harder it’ll be to pay off and doesn’t that sound like it should be illegal it’s not it’s interest interest is a random percentage we charge you because you made charges this is going to get pretty technical and pretty crimey so let’s look at a graph if you’re the average American credit card holder then you owe more than $10,000 in debt let’s say your interest rate is twenty four point nine nine percent and you’re paying off just the minimum because times are tough or you know because times are normal that means it in ten years you’ll have paid more than twenty six thousand dollars and still owe over eleven thousand dollars more and that’s just ten years after fifty years you’ll have paid a hundred sixty five thousand seven hundred twenty nine and still owe more than seventeen thousand so you will always owe me money but the more you use our card the more worthless things will give you all right yes let’s hear it first stuff or even better than stuff cash back which is just a tiny portion of money that you used to pay off the debt but of course you’ll never see actual money the more you charge the more cash back we’d give you it’s like you’re digging a hole and we throw in a handful of dirt to help you get out of the hole but only after you dig five feet deeper if you’re worried you might not be able to pay off this credit card will encourage you to get another card to pay off that one and then another to pay off that one the more credit cards the more you have to pay and the more you owe us it’s literally the same apparatus as a Ponzi scheme but we tell you about it with a 300-page tiny printed booklet that you won’t read so get yourself a Horten card credit card go ahead and swipe it through machines till you owe us billions Oh was that too harsh oh here hey laughing machine make the people feel better with your jokey words hey so you guys ever notice how a Katy Katy Perry is you feel better already right Katy Perry’s basically just Zoe ditional but gasps ears I’m Roger by the way [Music] hey guys thanks for watching if you like the video click like and if you want to subscribe you should because then you get to watch more videos from cracked and if you want some more great jokes then just I’ve

100 thoughts on “Why Credit Cards Are A Scam – Honest Ads

  1. And if you have zero credit. (No history of credit card debt or payments) you can't get approved for loans. You would think that being debt free is a GOOD THING. This is why I had a hard time getting loans for a house and car. No credit in my 20s. It's a RIP off.

  2. Credit cards are actually a very useful financial tool. Irresponsibility makes anything dangerous. Pay your balance off every month. Don't spend more than you have.

  3. This video makes to start to think perhaps crashing the entire world grid and going back to living in caves isnt such a bad idea.

  4. Credit cards are a scam, for your average consumer. Read the terms, see what you're getting into, there are hidden fees with some banks. You can play things in your favor if you play it smart, pretty much free money.

  5. Check your Cretin Rating, the higher it is the tighter they have by the balls. And they make it out to be cool to have a high credit sorry I mean Cretin Rating. Don't be a mug use cash you know it makes sense.

  6. You know we could all just get a ton of credit cards with high ass limits try not to lock your card Max it out get all the stuff you bought burn it and kill your self also make sure your an only child all your realitves are dead and tax payers choose what they pay for there you go you fucked all thoes rich assholes

  7. VERY VERY TRUE. And guess what I am just one of them falling into this. Sometimes its very difficult to resist! As of now we are planning to close most of our credit cards. Because I'm tired of this temptation of charging. And yes especially on things I dont need.

  8. I totally agree that these pieces of plastic are useless. Like, you get one, and you put money "in" it, and during the timeyou "own" that rectangle you lose money.

  9. i have 4. i pay them off until theyre done and then discard them. i prefer cash. im 64. i learned years ago howto use them and theyre a waste to me.

  10. Average person: “spend what I want cause I have unlimited money with a credit care”
    Me with a Credit Card: “lemme use the entire max amount for ad spend, then repay it in full by the end of the month”

  11. this is the hole reason i only get a debit card with no overdraft protection meaning i dont owe interest ever and i can never spend more then whats in my account but is smaller and easier to carry around then cash also easier to stop theft on never ever do credit cards in my opinion

  12. It's a debt card, not a credit card. Allows banks to engage in fractional banking to lend $1 10xs to create invisible money at usurious interest that is illegal for anyone except them. You have to be in debt to live now. Welcome to the machine.

  13. Use your cc and pretend it's your bank card. Pay it off every month, and you'll pay 0 interest. I get cash back every month as well so they pay me to use their cards. Plus the fraud protection is way better than if your bank card is stolen.

  14. I owe ZERO dollars on my cards and now have an 839 credit score.
    The big trick is to only buy crap on the card when you can pay it off in full before the next card billing cycle.
    You avoid interest and soon enough you can be like me……
    I can go get ANY car I want for ZERO down…..
    But I won't, because car makers, healthcare and all insurance companies are just like credit cards….. here to fuck ya and create poverty.

  15. I never saw poor people until I came to the USA. Where I come from the only people who can afford really expensive stuff are people who really have a lot of money. In America, you can be poor and take out a loan for a new car or house. It's looking rich on the surface but being poor on the inside, especially after you've sold your soul.

  16. If your income can't cover the expense of the purchase you're looking to make your loans won't cover the purchase either in the long run because your income won't be able to cover them either. if you can't afford to buy it out right with cash you shouldn't be looking for other ways of buying it. They only screw you over in the long run. Just save up for a bit and buy one that's second hand and in good condition. When it comes to housing, country side is always cheaper because of increased land space that no one wants since its always out of convenience unless you want that sort of thing. Suburbs are for people who have stable incomes with both parents working and may be the kids who pull in their monthly income to pay off the place faster. Spend within your income folks.


  18. Some of this reminds me of casino's , I've seen little old ladies lose hundreds of dollars on slots then the casino will give them a $5 bag with the casino's name on it and they come out of the building smiling like Rosie O ' Donnell at an all you can eat buffet.

  19. I’m still young and this is making me fear adulthood even more I genuinely don’t want to live in a place like this

  20. They needed to change usury laws before they could start this scam. That's right, that high of interest was illegal.

  21. this is why I use a DEBIT CARD but I always withdraw cash so that the government or my bank can't track my purchases and send me targeted advertising afterwards. I bank with National Westminister Plc which is part owned by the UK Government.

  22. Not applying even 0.01% to me. In România we have another financial system and I keep track of every cent spent.

    But thumbs up for the funny video how Americans are fucked :))

  23. Then you have people like me that benefit greatly by using their cards. My business ships over $300k a year with Fedex. I get a 5% discount for paying my FEDEX bill with my AMEX. I then selected postage as my 3X points rewards category. That's 900,000-1,000,000 points a year. I pay the card off in full each month so there is never any interest. So with the exception of the $99 annual fee I get about $15,000 in immediate Fedex savings plus about $10,000 in rewards points each year. It works out great if you know how to work the system. Oh, one other thing. Credit card companies don't just monitor your credit. They also have a scoring system for how much you cost them vs how much they make off of you. I am pretty much in the "watch out this customer will hurt you" rating so even though I'm pushing a 800+ credit score, companies like Capital One won't issue me a Spark rewards card which has UNLIMITED 2% cash back. They want customers that carry high balances and don't pay off their balance monthly. After all they want you to pay that 24-28% interest on a huge balance.

  24. The WORST thing to ever happen to mankind – credit cards. You need it to rent cars etc. The credit card companies have powerful insiders to make sure you HAVE to have one to do certain basic transactions.

  25. “The more you use our card, the more worthless stuff we’ll give you.”

    1-800-Flowers has entered the chat

  26. Wow can I have a couple More of those cards, I'll just buy everything I ever wanted, even if I can't use it, ha ha, then go BANKRUPT, then start over again!!!, 😆😆

  27. I wouldn't touch a credit card with two barge poles tied together, they amount to a blank cheque from a money lender. One that makes Ebenezer Scrooge seem positively benevolent.

  28. Step 1: Sign up for automatic bill payments that pay the entire statement on the due date
    Step 2: Always ensure you have more money in your bank account than the credit card statement. If you're having a hard time with step 2, reduce spending or increase income.
    Result: Never pay any interest & take full advantage of cards rewards. I get about $500.00 every year just after Christmas.

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