We’re Hesitant To Cut Up Our Credit Cards

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 3 October 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, and George Kamel. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:10.8	Joining me today is Ramsey personality, Ken Coleman.
0:15.8	Kyle is with us in Montgomery, Alabama.
0:18.4	Hey, Kyle, welcome to the Ramsey show.
0:20.4	Hey, Dave, hey, Ken. Thanks for taking my call today.
0:22.7	Sure. What's up? Well, my wife and I found the baby steps about four years ago. We were fortunate enough to start on baby step three.
0:30.0	Since then, we've taught FPU two times, but we are still hesitant to cut up the credit cards and close the accounts.
0:38.4	We have that fear of fraudulent debit card purchases.
0:43.5	I've heard you talk about it before in the past,
0:45.5	about the protections between debit and credit cards.
0:47.9	Yeah.
0:48.3	In my own research.
0:50.0	Go ahead.
0:50.8	Go ahead.
0:51.4	I'm sorry.
0:52.1	And my own research following hearing those episodes, I have looked into it and found anecdotal evidence
0:59.6	that people suffer when their debit cards get misused and then the banks take a while
1:05.1	or they may try to refuse the refunds by those fraudulent charges.
1:11.2	Do you have any input or any other protections out there that you would suggest
1:15.5	that help prevent those to help us get over that fear and stop using credit cards?
1:19.9	Yeah.
1:23.4	First, I would tell you that if you don't get over the fear,
	...

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