1. Fee Harvestor Cards (credit one) 2. Signing up for 5 credit card accounts before a chase card 3. Forgetting to pay (Set up autopsy for minimum payment) 4. Forgetting about product change rules 5. Forgetting to pay attention to interest rates

Auto payment will save you. I had a card with a $5 cup of coffee that I forgot about. Normally don't use that one. Would have missed it if auto payment was not set up.

The Amazon card was my first ever card which is a chase one, then got my freedom after. Its nice seeing them both in the app

I just have all of my credit card due dates on the same day every month. This is just easier and it can be smarter to have your due dates spread out in order to hold your actual money for longer.

Credit one should be shut down

I think one you forgot is remembering to keep your utilization low! Under 30% That's one thing I feel like most people starting off with cc's don't know.

I was so waiting for the fire effect at <a href="#" class="seekto" data-time="27">0:27</a> 😂 Awesome video as always!

Thank you for the knowledge! I really appreciate all of your research, I had no clue about fee harvester cards!

I love your videos, they are always so educational. I learn so much on credit cards an have improved my credit score by following your steps and advice.

Thank you for the information

Yes I've made some of these mistakes. Thank you this information is very helpful.

Chase said to wait a year after I got my first credit card. Wanted to see how I deal with the credit I was given

paying my credit card off will always be on my mind. losing money when i didn’t have to is not a good feeling

Great advice!

Thank you for the videos. They're always so informative and practical, making them highly applicable to the common credit card user/holder. Additionally, you sharing your life with the KZfaq community gives those seeking the same life style, and financial standing, the hope that it is achievable if you inform yourself and put your mind to it. Keep up the good work!

Really helpful presentation 😊😊

I love all of these recommendations but I see so little vids out there regarding the Canadian credit card markets

I watched your Korean channel before. Lol...I thought you look familiar when I first saw this video. Found you because Graham mentioned you in his channel. I like the video you made with kids in the classroom and buying snacks as the prize.

If you think you are too good for credit cards, you're the perfect person for them. I should've got one at 18, but i thought they were for losers and poors. So i missed out on nearly a decade of history

I use a best buy credit card. Never paid a cent in interest, put everything I can on it monthly, no annual fee and I pay it off every month. To date I've gotten an Arlo pro 2 home security system, Phillips hue lights, Roomba vacuum, and have $400 in freebies to redeem. 😃

Thx very informative info thank you ❌❌

I plan on closing both of my Credit One cards

I had a Capital One card that has a $34 AF. Totally forgot about it since I never used it and it showed up on my credit report. I paid it off and set up Auto Pay on that card.

Great video

Shifu looks like a “financial surgeon” 😂

I love this man

FYI wanted to pitch in that it’s not a Chase rule regarding upgrades but a federal law called the CARD Act which basically stipulates that credit card companies can’t increase your annual fee in the same year (twelve months not calendar year) you get a card. So that’s why there’s a 13 month period for Chase. You can always downgrade and get annual fees prorated but it’s advised not to downgrade after applying for a card and getting the bonus because those points can be and are clawed back. It also explains why you may be locked into paying annual fees for a year even if the credit card company raises fees for new applicants.

Credit one is a absolute scam I will never use it again,they sent me another card I canceled it they resent me another one

Lol that interest little thing almost caught me once on my SPG card once. “I was like where is this interest coming from” lol. Lucky caught it on time. And in my case, waited 3 years to upgrade to the Reserve?

First card was the military star card in 2016. I wish I knew opening a new card would hurt the age of credit history lol. I didn't get a 2nd and third card until this year. Got the CFU and then 6 months after got the CSP. Will upgrade to CSR after a year. Also want to get the amazon prime rewards and the flex from chase then I'll probably. e set from them. Also looking at the amex gold.

Hey Credit Shifu, I’m a college student and I’ve watched a lot of your videos . I started building credit on a Amex Delta Gold Card that my mom signed me up for, My credit score is over 700( in the 760’s) and I’ve had the card for 2 years. But I wanna expand my base should I go back down to the starter like Chase Freedom or Discover It to build up my base the right way ?!

Only thing I would add, even if you set up auto payments, STILL CHECK THE ACCOUNT because sometimes the autopsy doesn't work even though you set it up.

Opting out of prescreened offers at each credit bureau gets rid of the junk. Most of the offers I got were useless junk cards anyway.

Tip number 5 worked for me I was buying an APU for my semi truck unit would be about $10000.00 they had a finance company that does their financing but after 30 months I would have paid in total $16500+ so I was going back and forth trying to get them to lower it somehow but they would not then I remembered I had gotten a card with a $7000 limit with not much on it had it for 3 months it had a 15 months no interest used it and cash and paid it off in that year except for about 500 thinking .....at the time did not k ow any better...... that I should pay something in interest for my CREDIT to look good but that was nothing compared to how much I saved.

Hi, I have a question if i open a secured card in discover, capital one and bank of America, after 6-8 month can i get a credit card in that 3 banks? and it damage my credit score?

Can u do a video on which cards have the 5/24 rule and what cards you should get coming off repaired credit !

So what should be the next card after the capital one platinum? Should I apply for the chase freedom or the upgraded capital one version

That late payment because of the interest that he spoke of almost damn near happened to me. I only checked my account because I just had a hunch that I should check the account before the next due date rolled by and sure enough there was interest that I had to pay for. Kinda pissed me off really and now I just pay off all my cards immediately to avoid interest.

I’m a year removed from college, the CCs I have are Amex Platinum, Amex Blue, Barclays. I don’t like the Blue card and I’m thinking about upgrading to Amex Gold for the points. Is this a smart move? Also, I’ve never had a Chase card but is there a benefit to having all of my Amex cards and a Chase card?

When you upgrade your card does it keep its credit length and history or hurt your score?

Got denied with chase and venture card even if my credit score is 762 and pays the full amount every month. So I I just opened an Amex Gold card.

One rookie mistake is using more than 30% of your available credit in a month. I had to buy a computer because my computer died. I ended up using more that 30% of my credit limit and even though I paid it off, I lost 10 points off my credit score.

i hope more card holders will subscribe to ur chanel so that they have more info about their cards and how to handle it better..

Canceling a card online instead of calling to see if there is an upgrade path. I canceled my CO platinum then applied for a QS right after. Loss all that history... trying to convince myself the sign up off is worth it...

Yep did it. I have a credit one card. Now I have good credit and multiple high-end cards but im afraid to cancel it because its my longest history card and I don't want to hurt my score

Hi credit shifu, when i max out credit limit and pay off right away and continue use after balance had pay off is that a risk for chase to shutdown my credit card? Thank you

Wait how could there be a balance on the card if said person had already paid the full balance off before the closing statement???? That’s what I don’t get cause when I get mine I’m going to buy stuff then pay it right away pls explain

Are you eligible for the sign up bonus on say a Chase freedom unlimited when downgrading from a CSP or Chase reserve?

I wish I knew about Chase's 5/25 rule a year ago 🤦🏾‍♂️

I turned 18 and had no credit so I applied for the Apple Card and got $250 and after a few months I got my first credit score and it was 621

I got lucky my first credit card with no credit was through chase

One more tip regarding Chase Cards, you can only get up to 2 cards I cant remember in how long or if it is even for good.

Shifu I thank you so much, been watching these videos since I’ve been 16. Turned 18 in February signed up for a discover It secured $200 and Capital one Secured $200 just applied for a Chase freedom a hour ago and got approved for a $3.4k CL! Means a ton to me how much progress I’ve made in 2 months

Wait why is it good to have as a first credit card or at least among the first 5?

I work for CapitalOne and you guys have no idea how isual this problem happens to Cardholders, specially to secured card users, It is called residual interest and It accrues from the beginning of the cycle until the day that the payment is made, of course this only happens if the pymnt was not made in full and on time on the previous cycle.

what happens if you have 5 credit cards within 2yrs but close one of them before the 2yrs is up can i still get the chase card???

i have a question can you setup autopay on all of your cards an set it at min payment but then make your full payment by statement date ? im a rookie but I pay my cards on time and in full every month ...please let me know asap that was the one thing i never throught of i do have some on auto but i didnt do all even tho they still get paid i just want to make sure god for bid you know and thank you for sharing your knowledge ...

I thought credit one was part of capital one. Like the credit card branch. I almost signed up

I have 4 individual accounts and 1 AU account. I haven't got any junk mail (but have gotten scam CC calls).

Hi ! I need your help with picking up the best credit card. My scenario : I will have around 5-10 K expense coming soon... ( house improvement ) . Also I'm going to travel in December to Europe. Does it make sense to open Chase Saphire or Chase Freedom Unlimited.

I have one question...what happen if you get the card do you need to pay for the card of what amount per month? Can you pay online? Thank you! Your Awesome...!🙂

For the Chase cards, which Freedom card would you recommend? The normal one or the unlimited. It will be my 2nd credit card.

I feel like I’m getting advice on credit cards by Harry Potter lol

Does Amazon, Walmart, Target, My Jewelers Club and New Coast direct count as store cards or bank cards in re of Chase's new card rule?

When I got a Discover card I had auto pay set up for the minimum plus $5.

I have a credit one card and I can’t cancel it cause I am trying to qualify for a home mortgage. FML. Once I get a home that card is gone!!

2 of my 3 cards are chase cards and my 4th in 6 months will probably be one of the chase sapphire cards

You might have said this already but is it a good or bad idea to pay off your car right after your purchase? Or is it better to wait until the end of the billing cycle if your card allows you to have a billing cycle.

Credit one is sick omg

You can product change to the CSR after 12 months. I was able to upgrade my CSP to a CSR on April 7th, 2019. I opened my CSP on April 6, 2018. The Chase rep told me that you're eligible to upgrade the day after your card anniversary date

So I paid all my collections off. So I got excited and applied for like 4 credit cards and got then all but now I regret it cause 1 it's none of the credit cards I want and I paid all my credit cards off so my balance is 0. So my question is, is it a good idea to close the cards I dont want and just focus on the main ones which is a secured open sky limit 3k and a ibuypower credit I've had for 3 years and always on time with payment. Is it a good idea to close everything else?

Is Citibank secured credit card good?

Is it possible to (for those of us who unknowingly signed up for one of these "fee harvester" cards) actually transfer that credit limit to another credit card elsewhere. example: first premier card with 700 credit limit to citi rewards cards? this sounds like a balance transfer but im not sure.

could you get around those "immediate interest" cards by pre-paying some money onto the card so you are carrying a negative balance?

<a href="#" class="seekto" data-time="217">3:37</a> liked immediately

Ben Hedges doing videos about financial education?? Sign me in!

I did not pay my cc and it ruin my life. They signed me up when I was in my early twenties and I only borrowed a few thousand dollars to pay for food and gas. I know cc will not make me rich even if I pay them off by the end of the month.

The last point you made , doesn’t it affect your score if you don’t pay it off in full?

How long should I keep the capital one secured card? How much will this affect my credit score or if I close?

Can you buy alcohol in a shop with your credit card?

I have a capital one platinum card and six months ago got a quicksilver card from them, should I keep both accounts open or should I close the platinum card since I have not used it since it doesn’t give me the cash back benefits the quicksilver does?

I have a Discover Secured Card, an authorized user card, and a 740 FICO score. I want to get another card this upcoming summer. What should I get? I'm thinking maybe the Capital One SavorOne or the Chase Freedom Unlimited.

If you upgrade is it considered a new line of credit or stays as the old line of credit?

hi i have a question. so i’m getting a discover it card in the mail next week, my limit is $500 is it okay to use 400$ but pay it off every month? or does using more than 30% hurt your score? i’m gonna pay it off in full every month. but if using more than 30% will hurt me i want to avoid that but i can’t find a answer anywhere.. my friend says as long as you don’t leave a unpaid balance more than 30% after the monthly bill date you’re good, but obviously you know much more.. any help?

Mr. Shifu. Does Stores cards count for the Chase 5/24 rule?

Is it hard to upgrade from Capitol one regular to platinum ?

a question i always have is what the hell do you guys do with all these credit cards? like i only have 2, i have one as my main and the other is kind of a "emergency" card and i need a little bit more credit limit. idk how i would mange having 5 cards and what to do with them

Can you product change the chase freedom cards in the first year?

Hi guys I have a good question that I have not gotten the answer to noware if someone can help please. Here is the question if I already have a unsecured credit card would it make sence for me to apply for a secured card as another line of credit???

No one should join Credit One.

Wow i was gonna do that with the chase cards😂

Chase has a few restrictions, kind of hesitant on them. Good to know about the thirteen months on product change.

Does a chase business credit count for 5/24?

Damn it, I wish I saw this one. I am a rookie, started my credit journey March 2020. I started with the Cap One then Discover, then J. Crew, then Amazon Prime (Chase) and for my dog Care One Credit. I already filled my slots. I now will have to wait the 24 months. Damn it!

When I apply for a Chase card, how long should I wait to get another Chase card? Assuming I'm under 5/24.

I have a chase card with an annual fee of 99 a year. Navy Federal just sent me an approval for a Navy Federal Rewards with an annual fee of $49 per year my question is can i close my chase credit card with out my credit score dropping

<a href="#" class="seekto" data-time="411">6:51</a> more like $1200

Credit One is really bad...closed mine less than a yr..

I’d been told that we shouldn’t have any more than 3-4 cards otherwise it could affect you from getting any loans because you’d be seen as a risk. Does anyone know how true this is?

Getting a secured card when you don't have bad credit. Or getting a secured card that can't be upgraded. You waste a year of history. Amazon pretty much gives a card to anyone.