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Mark Cuban - Should you use Credit Cards? - HONEST OPINION

25 May 2023 · 0 min

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0:20

This short YouTube clip features Mark Cuban offering a blunt personal-finance opinion: he advises people to pay off all their credit cards and 'burn them' rather than invest elsewhere, because credit-card interest effectively imposes a guaranteed negative return — he cites typical credit-card interest rates of about 15–20% and frames paying them off as the best 'investment'.

Questions this video answers

About 15% to 20% interest.

Pay off all your credit cards and burn them.

If you use your credit cards, you do not want to be rich. And people then they ask me, well, where's the best place to invest? I said, your best place to invest is to pay off all your credit cards and burn them. Because your credit card, you know what your return is, right? If you get off, you know you're paying 15, 20% interest in one way or the other. And if you pay that down, you just earn 15 or 20%.