5 RED FLAGS When Applying for a CREDIT CARD – The Credit Shifu

by YouTube Team

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We look at 5 red flags you should look out for when applying for a new credit card. These range from high APR, to high fees to a few other things. The best credit cards won’t have these things, and we want to show you how to identify the worst credit cards so what is in your wallet will be the best.
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33 comments

Phillip Williams June 27, 2020 - 9:37 pm

What do you think about the new Verizon Card?

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Kyser June 28, 2020 - 12:02 am

Hey Credit Shifu, I've had my Chase United Explorer card for about 1 year now, I got the bonus and now I'm wondering what card I should potentially look at opening up next to stack even more Miles. my credit is in the 700's so I'm wondering what the next move should be to get those miles to stack up for a luxury flight to Asia.

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The Brains June 28, 2020 - 1:01 am

Credit one was the second card I got starting off. One year later I looked at the interest I paid for the year and was so shock! $385.00. It wasn't hard letting that card go after that. Before closing I even over paid by 72 cents to make sure I didn't owe them anything. It's been 3 months now and they haven't return my 72 cents. They can keep it! Am out!

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Armando June 28, 2020 - 5:48 am

I have the Citi Prestige in Mexico and we don't have a limit for hotel nights. It's great when you travel a lot. It's invitation only though, you can't apply for it.

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illegalfuture June 28, 2020 - 6:17 am

Sorry to hear bank sent lawyers and you had to take down video can you make a video talking about what happened

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Archie Bucknor June 29, 2020 - 11:45 am

Thank you so much.. was applying to applied bank and they have no grace period.. that’ stopped me in my tracks… and u jus broke it dwn better thanks

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Zach Dowdell June 29, 2020 - 7:15 pm

Disagree with anything under 2% not being worthwhile. They often have subs that would require 10s of thousands of dollars of spend for the DC to come out ahead or other benefits such as WF cashwise cell phone protection

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Antoine Busby July 2, 2020 - 10:14 pm

How ironic Credit One came after you. This is the same company with a name and logo VERY similar to Capital One. Oh…okay! LOL!

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John Ellorin July 7, 2020 - 6:49 am

i wished i watched this vid a year when i started my credit repair ….. 11 months in went from 580 to 740 average on all 3 CB … will close credit one, total visa, 1st premiere and mercury in a couple of weeks hopefully my credit score does not take a hit … i currently have 7 other cards that i’m keeping

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Average reviews July 7, 2020 - 11:43 pm

Wait a minute.. That gold card… Where??? 😈😈😈 kinda wanna look Into that

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kirk stone July 14, 2020 - 3:32 am

2:30 the moment you find out your words have power

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D. Davis July 16, 2020 - 11:29 pm

Credit One is crappy. Avoid for life!

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1990Ravens July 17, 2020 - 3:18 pm

I’m thinking about getting the Amex platinum card. I’ve been told I would need it for the amount of travel I do. I currently have the delta platinum. What do you think?

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Chicago Trader July 17, 2020 - 5:16 pm

So, Credit One also known as Scam One bank indeed used a lawyer to confront you? Well, don't give up ! You have the right to expose con-artists ! Likewise, Premier Card, Orchard Card, etc. You can also file a complaint with FTC.

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stuna101a July 23, 2020 - 3:08 am

I got a Bank of America Mastercard in 2008 at 7% apr. They want nothing more then for me to miss a payment to triple my apr.

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Justin Huff July 23, 2020 - 5:37 am

I got invited to the ollo optimum mastercard, 2.5% cash back on everything, $0 annual fee.

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Mitchell. July 24, 2020 - 7:24 pm

Number two is a good thing to watch out for. The others are great points too!

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Denis D August 2, 2020 - 1:28 pm

Foreign transaction fees are a no go for me!

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Kyle August 4, 2020 - 4:33 am

credit one is the only bank that sends me offers, which doesn't make any sense to me since I have "excellent credit"

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Risu August 26, 2020 - 3:44 pm

5:28 dude the look on your face when dropping that card is priceless lol

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George Senda August 29, 2020 - 2:31 pm

`
Despite being an authorized user on Credit One and Capital One both companies refuse to give me a card even though both card holders have a perfect payment record.
But Reflex bank just gave me a $300 credit card and I will be making the first payment on Tuesday.
I thank Reflex for giving me a chance to get another credit line.
The Capital One and Credit One accounts will be paid off by December.
Let's see if both deny me then for a card.

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Brooke Beck September 3, 2020 - 2:22 am

this was very informational

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James P October 21, 2020 - 11:17 pm

Credit One cards are superturds.

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Kirk Ek-ak January 25, 2021 - 12:55 am

what is the website that can put gold plated on the credit card for u? that's pretty fun but I like the idea. is it usable tho?

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Boss Bogan February 11, 2021 - 1:41 pm

a cool trick for you to get a rough estimate of how long it will pay your debt is to use the "rule of 72" .. for example that 36% APR means your balance will double every TWO years assuming only make the minimum payments. contrast that with say 8% (one of my cards), my balance would double about every 9 years assuming only minimum payments. while not exact, its definitely clearer why you dont want any APRs above 13% if you NEED to carry a balance. Of course, pay off that balance in full (or as much as possible) to avoid those eye watering interest charges.

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junior ochoa March 19, 2021 - 7:07 am

I am someone who fell for the credit one card 😭 I struggled so much to get my first card ( eventually got one with state farm) then I was eager to raise my credit score fast and credit one was the first pre approved card that came in the mail so I took it thinking I wouldn't get any other offer soon ): r.i.p

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Evan Tomoki July 16, 2021 - 10:05 pm

36% looks like a high interest
Mexico with 120% APR: Looks just awesome, OH, 0.9% OF CASHBACK!!!

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Alexander Aristizábal August 28, 2021 - 1:05 am

The doctor I work for has the Centurion Card and it feels glorious to the touch. I know because I've used it to pay at the hospital for Starbucks coffees lol

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