Consider paying for your mistakes like a man instead of finding loopholes to keep money that you don't deserve. I am not religious but I do agree greedy is the worst thing a person can be.

Very cool

​@@theimmortalking765 Think of the money

@@JmMateo933 Don't spend money you can't pay back

Will they refund my fees when I cancel in 2 months

They would never know

@@911eVoX your address on the file need to be MA

@@xunchizhang6776 Make up one

@@911eVoX well thats where the damn check is going to

@@xunchizhang6776 change my address to a friends address in Massachusetts right before I cancel lol

Condolences? What would I need condolences for? It's not like there is nothing fun to do in North Dakota right? *checks google* oh

​@Pizz Yzarc live in South Dakota and took a trip there, can confirm North Dakota is just an off-brand South Dakota

Bro's from mass, not much better

Rip

​@@pizzyzarc2695tbh I don't get it lmao

Bruh

Some banks dont have that option for all products

You're not wrong, but I think the assumption here is that the person for some reason has to cancel the card, regardless of the reasons or fallout. In such a case, this is a good thing to know.

​@@suprashank😮 Is this an American thing?

@@tonyjones5192 Seems like it

Unless the credit card you’re cancelling is the oldest type of credit you have or the only credit card you have, it will have no impact to your credit score

He quite obviously lowered the “phone” as anyone would in that situation. Which makes sense why he would keep the phone up because that’s been done in thousands of movies and tv shows when someone is on the phone and then they take the phone away from their ear/mouth and say something to someone standing beside them. So of course he still held the phone in his hand. That’s what you’re supposed to do.

Mimic? No, wrong, that's a phone

Better than $0.00.

@@RussellLewis5042 Yes, but not what John's words said in the video (which would yield a refund around $460 if it worked that way), which makes it very misleading compared to the excerpt of the law shown in the video.

You will get $460

​@@hwang1607is what John sais, but not the actual law he's pretending to cite

@@hwang1607 pro-rata means proportional. if you operate in a state you are subject to the laws of that state (sell product in California even though you make them in Texas? Those products need to comply with California law if they're to be sold there). So, $695 annual fee, that's $58 dollars a month rounded up, two months left would be $116, and two-thirds of that is $77 rounded down.

People who can afford it and aren’t broke, and the benefits that come with it are worth it.

​@@yuniel2010 like what free 1 day rental car or access to an airport lounge (not food drinks just Access

@@yolowolfyt if you think That’s the only thing you get, you’re highly uninformed. Then again I’ve been and was there too.

So what are these benefits you speak of then?

@@bongimusprime7981 I don’t if you guys are trolling but many KZfaqrs have the actual benefits but first of all, you do get food and drinks at the airport lounges, drinks at a specific time. You get Reimbursed for CLEAR, TSA or global entry, $240 a year In credit per month for like Disney+ and Hulu, Uber Eats credit every month, and I can keep going. And yes, I have specially used each of these and have only and the card for a over 2 months, and my fees already came in will be paid this month and don’t have to worry about them until next year.

Oh no..scary numbers only the credit card companies use to give you more credit cards

@Travis Eubanks Haha someone never learned economics. Credit is important when getting a loan on a house or a car. But hey, it's not your fault. Public schools are more focused on teaching you things that you will never use in the real world.

@H J Not sure where you are getting your information, however please stop spreading fake information. Someone might belive you. If you only have one line of credit and you cancel a card it can cut your credit score and available credit by half. Other factors play into it aswell, however best practice is to never have to cancel a card. Do your research before getting a credit card. Even if you only use it once a month, that will likely be the better option than canceling it.

@@tetramin200 Don't forget, lower revolving credit to income ratio is better.

@@tetramin200The assumption is that this isn’t the oldest line credit. Why would your first credit card have a $695 annual fee? Anyone doing this is probably playing the points game and has at least half a dozen other cards to their name, so the reduction in available credit isn’t much of an issue either.

You can cancel any card with little to no credit impact.

Open anywhere between 15-25 credit cards and BOOM!!! No need to be afraid of canceling or them canceling and closing a credit card on you. I Don't give a fuck, I got 19 other open accounts !!

You don’t want to cancel the card you’ve had for the longest period. Any other card is fine to cancel

​@@Curt_JohnstonTo be honest, you're gonna be fine. As someone with 780 credit score who is a student (part time income only) and have had credit history of less than 5 years, you'll build the minimum score hit you get in 3 months or so.

@@triparadox.c well there just isn’t any good reason to cancel your oldest credit card, unless maybe you’re paying large annual fees. It’ll shorten the average age of credit accounts which decreases your score and increases your scores volatility

Not true at all. Opening a card and then closing it a year later will have no impact on your credit score, aside from the hard pull which rolls off your report pretty quickly anyways.

Every dollar counts :)

If you make an informed decision to open a credit card with an annual fee that high, then you're likely of the type who believes in never leaving money on the table. The vast majority of people would just be throwing money out the window with such a card, but for those few people whose spending habits match the features of the card, high-fee cards can yield more money/value back than zero-fee cards.

We do. We also have annual fee cards in addition to the non annual fee cards.

You will never get maximim rewards then.

@@JeffCD77 the rewards are garbage and rarely worth the fee

@@bobowon5450 You don't have a clue my friend!

@@JeffCD77 depends on your lifestyle i guess. but for most people getting 10% off a 2 thousand dollar coffee maker or a free flight across the country after spending 300k to get enough points isn't worth a dime.

@@bobowon5450 You need to learn how rewards programs work. The reason I began playing the points game was because of how difficult everything is right now. I don't have the money to spend on vacations but because I've learned how to make everyday spending work for me, yes, my family and I are going to Hawaii from the east coast, in August, paid for mostly by credit card points. And it didn't take $300,000! Simply opening one card alone paid for almost 2 round trip flights. You obviously don't understand how these programs work.

Amex platinum. Seems steep, but they give literally a $1700 sign up bonus... so if you just cancel after a year you're up $1000, lol.

I'm from North Dakota, also perfectly delivered 😂

@@abigmonkeyforme If it works for you fine, but it doesn't work all the time for everyone. And if we're comparing dick sizes, I've been dealing with credit cards since I worked for Chase in the 70s and have been up and down the credit score scale for 50 years or so. I tend to believe / agree with actual experts who say cancelling a card will impact your credit score than some random person on You Tube with the name "abigmoneyforme" that I can't take seriously. But, again, if it works for you and your scores are good, that's great, just don't give definitive advice to people unless you are prepared to back it up and prove it to them. And by them, I mean others, not me, I know better.

Unless it has a $695 annual fee.

Yeah when you're paying 700 a year for a card, if you don't use it then you better get rid of it

This is wrong.

Not wrong but incomplete.

@@abigmonkeyforme "The history of a closed account stays on your credit record". This is inaccurate because of two omissions. First, while closing the account does not _immediately_ remove the card from your history, it does remove it from the active history. Closed accounts do still count towards history, but they're not included in all value calculations. When looking at credit history, they look at oldest card age, newest card age, and average age. Depending on the age of the canceled card vs your other cards, closing a card can impact two of those 3 values. Second, it will be removed from the history after a few years, it doesn't remain indefinitely, so merely stating that it stays on your record is incomplete.

Facts lol

Yep, "Taxachusetts" wants people to have money to steal. The state HATES competition!

youre gunna be the next thing we dump in the harbor