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In this video we look at 10 things you should never do with a credit card. These include things like cash advances, but also adding authorized users you don’t trust, missing minimum payments etc…
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30 comments
Best thing I ever did with my credit card was buy crypto currency back in 2017. I spent $1500 and made $62,000 in 3 months from ADA, Verge, BNB, Stellar, Tron (biggest gain bout $5000 worth at .03)
The only major bill that have the fee is electric of I think 2.90 I know it's under 3 dollars.
No interest for 36-months may sound great but, credit reporting agencies still report your debt and your score goes down with a standing balance. Don't know why anyone ever talks about about this.
If you are a veteran, Apple and other businesses may give you a discount. The Apple discount is 10% once you have been verified.
A 30% credit utilization is too high. Attempt to keep it under 10% for a higher credit score. If you can, use a credit card as a charge card to obtain their benefits such as miles or cash back.
I agree with "Never use a credit card for cash advances".
Ahhh I wish I found you before 2016 when I absolutely destroyed my credit 😩😩
With discover credit card you can take some cash in stores as cash back with no fees
It is best.. not to have one:)
How did u manage to get a Ukrainian ATM footage? 😀
I don't have a credit card…. Lol don't know why I'm watching. Still interesting noneless. Lol
This sounds very rookie but is paying for gas with credit card a “Easy Financeable Item”? Or will it actually help build my credit?
All the ones you listed are pretty important and that was informative. But the one I will never do an M never done is use my credit card to get cash advances from the ATM machine. I think most people don’t realize that there’s interest payments start right away.
Or backyard basketball court I bought ? 😂
You’ve got to be on crack to use a cash advance with those on crack fee’s …. 🤨
Thanks for the tips! I checked out Raymour & Flanigan and found the "0% for 18 months" offer, but also noticed the alternative, Progressive Leasing (lease to own.) Went to Progressive's site and got a quote for 12 months on $1,200. $1,500! Literally $2,700 to "lease to own" a $1,200 sofa over 12 months! I thought loan sharking was illegal!
This guy looks like British Ben from Gen films/Star Wars channel.
@ The Credit Shifu
A couple of years ago I had a Amex platinum and carried a balance for 90 days and forgot about. They cancelled the card and I paid the balance and since then my score has recovered. That happened two years ago. Around nine months ago I tried reapplying for the Amex platinum and was denied. Do you think I might be blacklisted from Amex? I currently have the Chase Sapphire preferred, and three other cards. I credit karma says my score is around 730. Is there a way to work back up to the platinum for my situation? Thanks
Deeply happy i come across this trustworthy vendor been second time of getting Credit card from him @cloebrown988 on telegrams much love I have for you 💕💯✅
I take cash advances but it through navy federal credit union, which doesn’t cost a fee. I pif every month so it’s no problem.
You shouldn’t have paid them it will just go away
This video Is for the UK i don’t think you know how finically irresponsible we are in the U.S. lol
Is TD bank a good bank?
Gun stores also charge fees for using credit cards. I was sad to learn that lol.
Should be able to use it to pay anything that needs to be paid
Once I have the money in my account to pay it off
All bills
Come here you sweet sweet points and sign up bonuses
Had an Amazon prime store card closed automatically because of payment issues…. money was in the checking account, got some late fees on the card.. funny thing is I paid the $60 and it never reported as a late payment 😂
There are certain times when a cash advance makes sense but its an expense that you want to avoid if possible. This past month, I received 2 cash advance checks from 1 credit card issuer. I haven't actually used them because they are for greater amounts than Id actually need ($300 with fee of $24). If I ever do take a cash advance its usually only for $100.
on #8: if the fee is equal to your cash back reward it's still worth using credit because the rewards are earned after the fee. for example if both fee and reward are 2%, you end up making 0.04% (lower than 2% but still positive). The fee cancels out the rewards you'd make on the base amount but you end up getting rewards on the fee itself.
where I live stores aren't allowed to charge extra when someone uses a credit (or debit) card to pay for something
instead most stores have a minimum transaction amount for credit and debit cards (and interestingly one of the colleges I went to had no minimum spend on debit cards, but had a £5 minimum spend on credit cards)
I don't go into the negatives. Ever. Banks hate me. I have a good credit history but everyone knows I am not taking out any.
What if you max it out and pay it in full before any interest is accrued?
“YOU WOULD HAVE TO BE AN IDIOT”.
AMERICANS: HOLD MY COFFEE.