Listen up.
If you’re still swiping a debit card like it’s 1995, you’re leaving thousands of pounds on the table every single year – and worse, you’re making yourself vulnerable and invisible to the system that builds real wealth.
I don’t do debit cards. Haven’t for years. And I’m not some flashy influencer trying to look rich – I’m the guy who went from £50k in debt to a deca-millionaire by 31, owning 350+ rental units and running multi-million-pound businesses. I use credit cards as a weapon, not a crutch.
Here’s the brutal truth: debit cards are for people who want to stay small. Credit cards (used the right way) are for people who want to get quids in.
Let me break it down for you, UK-style – no American Dave Ramsey fluff, just practical, high-leverage tactics that actually work here.
1. Section 75 protection – your invisible bodyguard
Spend over £100 on a credit card and Section 75 of the Consumer Credit Act kicks in. The card provider is jointly liable with the seller. Faulty goods? Seller ghosts you? You go straight to the bank and get your money back. No arguments.
Debit card? Tough luck. You’re on your own. I’ve seen people lose £2k+ on dodgy online purchases or cancelled holidays. One quick call to the credit card company and it’s sorted. That alone has saved me and my businesses tens of thousands over the years.
2. Purchase protection & insurance built in
Most decent UK credit cards throw in:
- Travel insurance
- Purchase protection (up to £30k+ on some cards)
- Extended warranties
- Mobile phone cover
Debit card? Zero. You pay full price for all that elsewhere. Why would you?
3. Credit score building (the silent wealth hack)
Every responsible payment you make on a credit card builds your credit score. Higher score = better mortgage rates, cheaper business loans, easier access to good debt that makes you richer.
Debit card? Does nothing. You’re invisible. Banks see zero activity. You stay stuck paying higher interest elsewhere while I’m leveraging better rates on my property portfolio.
Pay your balance in full every single month (that’s the non-negotiable rule) and you get all the upside with zero interest. I treat my credit cards like a free short-term loan that pays me to use it.
4. Reward points & cashback – free money
I rack up hundreds of thousands of points a year. Cashback, Avios, hotel nights, vouchers – all for spending I was going to make anyway on business, travel, suppliers, even my property portfolio costs.
Last year alone the rewards paid for multiple family holidays and business flights. Debit card gives you… a polite “thank you” and a kick in the teeth.
The one rule that stops it becoming bad debt
Pay the card off in full every month. No exceptions. If you can’t, don’t spend it. Simple.
Credit cards only become bad debt when you treat them like free money and carry a balance. That’s amateur hour. I use them as a cashflow weapon and a wealth builder.
This is good debt in action – exactly what I taught you in the last post. The bank is lending you money interest-free for 30-60 days while you earn points, get protection, and build your score.
Stop playing small
Most people use debit because it “feels safer”. Safe gets you broke. Safe keeps you paying full price, unprotected, and invisible.
You want to make, manage and multiply money? Start treating your spending like the business owner you are.
Action step right now:
- Check your current credit cards (or apply for a strong one – Amex, Chase, Barclaycard Rewards are my go-tos).
- Switch every single recurring payment and big purchase over.
- Set up auto-pay in full every month.
- Watch your score climb, your protections kick in, and your rewards stack up.
You reject that which you are NOT.
You attract that which you ARE.
So decide: Are you the person still using a debit card like it’s normal…
Or are you the one who uses the system to get ahead?
And if you want the full system – how to stack multiple cards, optimise for maximum rewards, and turn every pound spent into more money in your pocket – get inside Money.school. We go deep on this stuff every week.
Because if you don’t risk anything, you risk everything.
Stop leaking money.
Start multiplying it.
