Banking, finance, and taxes

8 Perfect Dave Ramsey Quotes About Credit Cards

Sammi Caramela

Published: June 14, 2024 12:00 pm

If you’re looking for some solid financial advice, look no further than Dave Ramsey. As a seasoned financial expert with a large platform and nationally syndicated radio program, The Ramsey Show, Ramsey provides expert tips to those looking for financial wisdom.

Specifically, this article will cover Ramsey’s perspective on credit cards, including whether they’re worth using. We’ve already created a list of Dave Ramsey quotes about shopping, but here are seven Dave Ramsey quotes about credit cards.

1. “A high credit score does NOT equal success.” 

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• Source: Dave Ramsey

Takeaway: Don’t Equate Financial Stability to a High Credit Score

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According to Ramsey, a high credit score doesn’t equal financial success. In fact, many people with high credit scores still struggle to pay off their debts or spend more money than necessary. if you have a credit card, of course, you want to aim for the highest score possible. However, don’t base your financial stability solely on your credit score.

2. “If you want a life without payments, stop chasing a life WITH payments.”

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• Source: Dave Ramsey

Takeaway: Use Debit Cards Instead of Credit Cards

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Ramsey believes using your debit card instead of your credit card will actually set you up for more financial success, as there won’t be any debts or payments to make in the interim. A life without payments is better than a life with payments, according to Ramsey.

Of course, this isn’t always practical for everyone. Many rely on credit cards to make payments they can’t currently afford. However, when possible, Ramsey recommends avoiding creating more debt for yourself.

3. “I have a zero credit score, and I’m doing just fine.”

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• Source: Dave Ramsey

Takeaway: You Don’t Need a Credit Score to Thrive

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Dave Ramsey believes that credit scores and credit cards are traps that make us reliant on banks and other financial institutions. Many people fear if they don’t have a credit score, they won’t be able to make major purchases and investments, such as buying a home or car. However, Ramsey admitted that he himself has no credit score — and is quite financially stable and successful.

4. “Chasing a high credit score is ridiculous. It makes the banks richer and richer and pushes you further and further away from your goals. It’s time to stop playing the credit score game and take back YOUR money. Pay off debt as fast as you can, and don’t look back.”

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• Source: Dave Ramsey

Takeaway: Pay off Your Debts as Soon as Possible

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According to Ramsey, the only thing you should be focusing on in terms of credit cards is paying off your debts as soon as possible. Rather than attempting to build credit or reach a high score by making major purchases and payments, focus on paying off your debts when you can and moving on. This might look like refusing to use your credit card in situations where you don’t need it, meaning you become less reliant on it. 

5. “Credit cards are a short-term option that only set you up to fail later down the road.”

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• Source: Dave Ramsey

Takeaway: Consider Your Future Finances

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Credit cards are convenient when making purchases you might not be able to afford at the moment, but consistent reliance on them can set you up for failure down the road, Ramsey says. The more you use your credit cards, the more debt you will accrue. Instead, he recommends people use debit cards, cash, or other options payment methods that won’t cause issues down the line.

6. “Get rid of the credit cards NOW so you don’t use them in a moment of weakness.”

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• Source: Dave Ramsey

Takeaway: Do Not Use Credit Cards, Point Blank

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Similar to his other quotes, this one advises individuals to get rid of their credit cards altogether. Ramsey warns people from using credit cards during moments of weakness, such as when they want to make a big purchase or don’t have the funds to support something they desire. He labels credit cards as a liability — one that can cause a lot of financial stress and struggles down the line.

7. “Don’t believe the LIE that you need a credit score. You’ll be just fine without one.”

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• Source: Dave Ramsey 

Takeaway: Do What’s Best For You

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As noted above, Ramsey believes that you don’t need a credit score to lead a successful life. Considering he has no credit himself, he believes that you can still make necessary purchases and investments without racking up debt through the use of credit cards

8. “A credit score is nothing but an ‘I love debt’ score.”

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• Source: Dave Ramsey 

Takeaway: Avoiding Debt Means Avoiding Credit Cards

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To Ramsey, a credit score is just an indication of debt rather than a sign of financial wellness. While many people take pride in high credit scores (and rightfully so), Ramsey believes that credit scores aren’t actually all they’re cracked up to be. If anything, he believes they are mere “I love debt” scores.

Why We Are Covering This

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Dave Ramsey is a go-to for financial advice. As the host of The Ramsey Show, a nationally syndicated radio program, Ramsey has compiled valuable tips and quotes that help serve his diverse audience. His take on credit cards is a unique one, and it can help foster a different point of view on credit card usage.