2020 Recession: Credit and Credit Card Strategies – The Credit Shifu

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We look at some credit card strategies to get you through the 2020 recession.
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42 comments

The Credit Shifu March 19, 2020 - 8:25 pm Reply
csanchez505 March 19, 2020 - 11:05 pm

Been watching my 401k tank every day

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AirSoftMaverick3232 March 19, 2020 - 11:08 pm

ugh I'm mad about the Ink Preferred increase on spending for the signup bonus. it's pretty much out of reach now. maybe if they rolled it in with 12 months interest free, I would consider it

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Clenry Guzman March 19, 2020 - 11:25 pm

Excellent video!!
Great points, I just save 500$ and fees in one single call! Thanks :))

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Small pe n is March 20, 2020 - 12:34 am

Capital ones subprime cards are holding me back by 129 points because they are so greedy and want me to remain under. I’d have the business capital I needed if Amex wasn’t inept. With 7k spend PIF and a 730 score for half a year Amex wouldn’t give me a cli from 2k and I need to engage logistics for my million dollar tactile inventory which ended up making me finally trip. Not a single missed payment and the only thing I ever did was accidentally pay my full balance after a payment bounced so the return payment was on 590 trying to pay on a balance
Of zero!!!! That’s nonsense! I saw the return payment immediately and thought the retry was an error. This happened in July and they wouldn’t give me a card and tell me I have no return payment but my only reason for being denied was recent return payment!!!!

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Quinton Ashton March 20, 2020 - 1:14 am

Excellent as always thanks Sherpa shifu.

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Ed R March 20, 2020 - 2:19 am

"I prefer to call it the Chinese Communist Party Virus"

My man 😎👉👉

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Joshua Becker March 20, 2020 - 2:24 am

Blaming it all on the Chinese government when the US response was comparably terrible lmao

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John Campbell March 20, 2020 - 2:27 am

Thanks for the honest video open.

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DeRun Ren March 20, 2020 - 2:49 am

spread the hate and bigotry. what a turd.

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cjhan47 March 20, 2020 - 3:11 am

Why not just call it Covid 19?

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Gonzalo Garcia Tunon March 20, 2020 - 3:14 am

What do you think about airlines status? Are there going to be any changes for this year?

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Bakhtiyor Ubaydullaev March 20, 2020 - 4:08 am

Nope. I feel like you are being popular for credit and financial videos and NOT for your own thoughts about chinese gov and their deeds. You might as well talk about our gov if that's the case. Very inappropriate comment, as I see it. Dislike.

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Sang Tran March 20, 2020 - 5:39 am

Hi guys I really need help. Recently I opened a credit card, and I thought it was capital one. After getting the card, I finally realized the brand is credit one. I got charged $75 annual fee even though the mail I got before applying saifd $0 annual fee. Tried call them but didn't get a response. Currently, my credit score is not available yet, I just wonder if I closed that card, how bad it would hurt my credit score upon published. Also, right now, I have a discover credit card, also waiting for my score. Thank you, any help would be greatly appreciated.

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HES HES March 20, 2020 - 9:58 am

Wait… let’s make it Claire. You told us that your wife is from Taiwan, so you know about anything in China. By that logic, we are agree that Taiwan is part of China.

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Mike Anthony March 20, 2020 - 11:11 am

I love the way you think credit Shifu.

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Lenin Rodriguez March 20, 2020 - 12:11 pm

Yeah your president also said this virus was a hoax created by the democrats, so keep drinking his Kool aid. BTW I was a fan.

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Jose Garcia Jr March 20, 2020 - 1:21 pm

Just cause you mentioned who is actually responsible I liked and commented

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somefunification March 20, 2020 - 3:34 pm

Was not expecting new Cold War rhetoric on this channel. Unsubscribing.

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575burntoast March 20, 2020 - 5:41 pm

Sponsored by Lysol

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Terry Johnson March 20, 2020 - 7:49 pm

Thank you

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Kevin S March 20, 2020 - 8:57 pm

Dont worry about idots shifu. We got your back.

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jalabi99 March 21, 2020 - 2:25 am

On my Amex Hilton card I can't redeem my Hilton Honors points for cash. Bummer.

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Tyler San Miguel March 21, 2020 - 2:29 am

Is Chase still doing hard pulls on these relief credit limit increases?

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A. GZN March 21, 2020 - 6:44 pm

He just wasted $15 using that one single wipe

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Jimmy Huerta March 21, 2020 - 8:53 pm

I heavily do NOT RECOMMEND the slate, they gave me a high APR and 500 limit two years ago with a 720ish

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write way March 22, 2020 - 12:00 am

If you're actually going to gauge what you're saying by what trump says about any subject matter, anything that you say after that is nullified.

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Joseph Farina March 22, 2020 - 12:02 am

With traveling being over, cashing in points sounds smart

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Jefford717 March 22, 2020 - 6:35 am

Once you downgrade, let’s say from CSP to unlimited, are you able to upgrade back up in the future?

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Ben Dong March 22, 2020 - 3:37 pm

Ben, I liked your video a lot, but I have to say, first, you don’t work for NTD anymore, so you don’t have say sh*t about China, you have a lot of audience from China. Second, the US is worse at handling this situation, it’s Trump and his team made us in this situation, not China.

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Paulus March 22, 2020 - 7:47 pm

Thank you very much for reinforcing the idea this is the CCP virus.

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Zachary Pearson March 23, 2020 - 5:39 am

How bad is 20 hard inquiries?

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Zachary Pearson March 23, 2020 - 5:41 am

And as for the utilization rate, as long as you pay it off a little early or right on time, shouldn't you be just fine if you max it out? I do Amazon Dropshipping and someone told me to max out the card for leverage.

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KrazyTrader007 March 23, 2020 - 7:58 am

EVERYBODY INCLUDED Credit Shifu himself seem blame on China Gov fault but the whole world already alert US in Jan and President Trump didn’t react as fast as he could and causing US epidemic. USA have a good 2.5 months to prepare but president trump and VP said they are well prepared which they didn’t . Ppl here not even care of wearing mask to go out because the US Gov did not signal warning everyone hard enough . China fault ? Or US President Gov fault ?

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Willy Delius March 24, 2020 - 5:06 am

keep hammering the ccp

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TYRONE KING March 24, 2020 - 11:42 pm

u spelled (canceling) wrong twice @ 06:32 second mark. great info though. I love your content though couldn't help but notice

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Frozen Tundra March 25, 2020 - 1:36 am

Here are my three steps dealing with credit cards:
1. Pay cash for everything i.e debit card – if you do not have the cash then do not buy it
2. If you must use a credit card, pay it off before your cycle date cut-off date (how many people actually know their cut-off date) and never carry a balance over to the next month
3. Repeat steps 1 & 2.
Here is a bonus:
4. Think about this, I'll bet you never heard a Millionaire say something like "hey, the credit card cashback or hotel points pushed me over the top to help me become a Millionaire".

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TheDarkKnight992 March 25, 2020 - 8:06 pm

Why not call it the Wuhan virus instead?

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MissEnglish123 March 27, 2020 - 12:22 am

I call it the “Wuhan virus”

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Larry Thigpen April 7, 2020 - 1:53 pm

What is the best travel card to sign up for now? I want to go to Europe this summer.

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VERATTI100 VIA TELEGRAM Thanks sir April 9, 2020 - 12:31 pm

Thanks a lot veratti 100 in telegram for boosting my credit score to 870 today ….am really grateful sir, I also received 6500 in my account

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Bwatts Watson June 25, 2020 - 4:42 am

Late April

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