Why Dave Ramsey Is Wrong About Credit Cards

Dave Ramsey is a popular money guru who is looked upon as a figurehead of being financially healthy. This then creates a further following of the things he teaches. However, it does not mean they are reliable things to follow. So many choose to follow him blindly or “drink the kool-aid” without really ever developing their own thoughts. One of the biggest teachings of his has to do with credit cards. There is a strong push to have no one with a credit card. They taught to be bad and you should stay away. I strongly disagree.

Having a CCW permit

Where I live getting a carrying a concealed weapon (CCW) license is fairly easy to get. You can take your firearm into most public places with this permit, and there isn’t much of a stigma for having your weapon on you. For example, I was working a the bank one day and a customer came in with his gun holstered to his hip. I wasn’t thinking anything of it because it is quite normal out here. A credit card is very similar. It doesn’t take much to get a credit card these days. In fact, it is almost weird if you don’t have one. Therefore, when you see people out in public, you will most likely see them using a credit card at some point. It is normal.

Everyone should have a CCW, right?

So, if getting a permit to have a gun in public is so easy, everyone should do it right? Wrong. Having a gun with a permit is a huge responsibility. It is a responsibility which will most likely be stressed to you when undergoing the certification process of getting your permit. They will teach what you can and can’t do along with possible situations you may find yourself in. Unfortunately, getting a credit card is not this invasive. For most people, it is a matter of signing up a verifying you have income and have a pulse. There is barely any counseling or review other than your limit and how to use it. A gun and a credit card can both cause a great deal of harm. However, only one gets proper training behind it. Why are we allowing banks to give “loaded guns” to people who don’t really know what to do to be safe. All they will know is pull the trigger by swiping.

The Dave Ramsey philosophy

Dave understands the damage credit cards do. This is why he teaches people to stay away and cash is king. However, I truly believe this is the worst thing you can do for most. For you see, most people already have a credit card or will as some point get one. Instead of trying to teach avoidance, why not teach the equivalence of gun safety for credit cards? Stop telling people not to do something and instead teach them how to use it correctly and how to protect themselves. If some know credit cards are still getting them into a lot of trouble, then maybe avoidance is best. However, for those of us who can be taught how to use it appropriately as a tool, we should have the confidence to then use it as intended.

There are so many things in life people tells us we should avoid. Most of the time it is because they say so. They teach abstinence for sex before marriage, say no to drugs, don’t drink and drive, etc. Yet, people still do these things? Although I do not condone doing any of those things, there still needs to be a bigger push of the “why” for things. For example, if your going to have sex before marriage use protection. If you are being tempted by people to do drugs, understand the consequences and how it can destroy your body. Lastly, see visual representations and hear stories of drunk drivers. We cannot live in a plastic bubble with credit cards let alone life. Start educating rather than dictating.