Reported 4 months ago
Mark Cuban, during an appearance on the Dave Ramsey Show, advised against using credit cards if the goal is to become rich, emphasizing the importance of paying off credit card debt to build wealth. Cuban and Ramsey both agreed that avoiding high-interest charges and staying out of debt are crucial for financial success, with Ramsey noting that wealthy individuals prioritize getting out of debt. However, some argue that credit cards are essential for building a credit history, especially for significant investments like buying a home. Responsible credit card use involves paying bills on time, not exceeding affordable limits, and avoiding minimum payments to prevent accumulating interest.
Source: YAHOO