Learn more about reward credit cards:
Get Easy Money Signing Up For Sofi Money:
Not many people can admit when they make a mistake, but in this video I tell you about 3 credit cards I regret opening. The mistakes I made early on in the credit card game have shaped me to be better when it comes to selecting credit card for their rewards.
Free credit card consult:
Waller’s Wallet Merchandise:
Subscribe to my monthly newsletter:
Patreon :
Support Waller’s Wallet when shopping at Amazon:
My Camera Equipment:
Canon M50-
Lighting –
Lav Mic –
Tripod –
Travel Tripod –
Airbnb – Get $40 off your first booking-
Rakuten – Get $10 when you sign up –
Social Media:
FaceBook Group:
Twitter:
Instagram:
Advertiser Disclosure: Many of the listings that appear on this website are from companies which we receive compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products.
50 comments
Thanks for sharing. I had some stupid ones too.
Quick question regarding chase 5/24. I'm currently at 5/24. If I close one of the credit card that I opened this year, will that bring me down to 4/24? Thanks in advance.
Credit card I regret opening is Capital One Quicksilver card. Somehow everytime I went over $100 it would hurt my utilization by -15pts on Credit Karma. Though I'm not sure how reliable is Credit Karma. Long story short. I ended up being an Amex person and I've been happy with them since then. Benefit of having a charge card is that you are not bind to utilization. As long as you make your payments before the due date then all is good. I have never been a fan of how the utilization system works.
Great video! Keep up the good work.
I regret opening the Blue Cash Preferred Card… it's not worth taking up one of my AmEx credit card slots…
We all had to start somewhere. The Capital one secured platinum is useless now, but 2 years ago, it helped me build credit to the high 700's today. Now I get pre-approval offers for all the premium cards.
Very relatable! My first non-secured credit card was PNC Cash Rewards and my Amex BCE (got them both at the same time; was denied by chase freedom due to insufficient credit history). But I wish I got the Amex Everyday just to get my foot in the door with the MR points. And I literally got the Uber card 2 weeks before they made those terrible changes lmao.
Now I'm 4/24 and I have the CSP but my average age of credit is now only 9 months (I recently got a mortgage)…..so I have to hold off for now before applying to anything else.
Years ago I got a USAA secured credit card with the understanding (according to the USAA rep) that the card would graduate to a non secure credit card in 2 years. The rep was wrong; I wasted 2 years waiting for that card to graduate so that I could start rebuilding my credit. It is now my oldest credit card and I’m keeping it open and paying an annual fee just to keep from harming my credit score.🤦♂️
I hear you my man! I opened the Amex Green BEFORE the relaunch. I easily missed anywhere between 10,000 -15,000 MR points by getting it before the relaunch. I don't so much regret the decision of opening the card as I do the timing.
Thank you for the encouragement. Here is my mistake. I opened Kohl's store card to get 30% off my purchase, which was just $30 😀. But that was before I got into the points and miles game.
Now thanks to you YouTubers I don't get any store card.👍
I would’ve said the citi simplicity card. With the 18 months interest free, I saved $250 in interest. But the simplicity has no bonus or earning catagory, and (at the time) citi would not let you product change out of the card. Citi was good at sending me promos for the card(5% off all purchases; statement credit up to $100, 1.99% apr for nine months, 5% off on select purchases; statement credit up to $25). But last month, I got invited to convert the simplicity to the double cash. I couldn’t complete that email fast enough. Now, I have the double cash with a decent credit limit and lower apr and I did not have to get a hard pull applying for the double cash.
The capital one quicksilver. Isn’t a bad card but I don’t have a use for it being that I have free unlimited and boa cash rewards card
Macys credit card way back. I didn't know it came with a store account and a visa account and when I purchased stuff, I would put some charges on the store account and some on the visa without knowing they were separate. So then I over paid on my store account and didn't pay the visa account. Had one late payment on my credit report from that.
I’m holding off on discover miles card because of that same reason. I still think I might eventually still get it. Once I can commit to a year. IF I CAN !!
My regret is Nationwide credit card which was now sold to Merrick bank. 1% cash back. No annual fee. 1% foreign transaction fee. Decent credit limit. It’s kinda a sock draw card that only helps my credit score maybe for length of credit and utilization. There was just so many better options 🤦♂️…
Another regret was closing my Target credit card. I moved far away from target and I thought closing the card would free up credit with another issuer!! Obviously I didn’t know what I was doing…
Just made a massive mistake this past month. Received the csp and was planning on putting the entire 4k spend for the 60k points on my student loan. Had the money see aside in a high yield savings account.
Turns out my loan issuer would not take payments from plastiq and I didn't feel comfortable having plastiq send a 4k check that they still might not take.
Now I'm using the csp as my daily driver hoping to hit the 4k. Might have to manufacture some spend to hit the minimum.
I’m one regret is First Progress, talk about a waste of a 5/24 slot!
I made a few mistakes with credit cards too like missing a sign up bonus on a particular card. But even the professionals make mistakes and then grow and learn from them. We cant get it right every single time.
I regret opening the Chase Disney Premier card. I didn't realize when I opened it that the rewards were only redeemable with Disney. I racked up a bunch of points only to give them back to Disney for some Disney merch. The only upside is that when I applied for my Trifecta I had a long credit history with Chase.
I regret opening Citibank and Capital One Credit cards. I prefer to focus my spend.
Bank of America Travel Reward and Citi Premier
Before learning about cc, I open the Disney (Darth Vader ) no af, and later on a store furniture card 15 mo interest free . Then started to learn about cc and boom apply for Chase and that damn card was my 5 one . So no Chase for now. Then last one Uber for their damn change.
chase made me idiot …they cost me 15 points of my fico score reject to give me freedom unlimited …one agent told because i don't have a bank account with chase …others told me that i opened 3 cards in 8 months …what about 5/24 still i only have 3 cards 2 of them are secured ….freedom unlimited needed 670 i was 694 …. i lost 15 points and got rejected and that's how chase made me an idiot.
What about UBER CARD this sucks
Dustin is wearin the fuck out that flash shirt 😉 #FlexGameStrong
I have a total of 9 cards. I think I regret 2 of them. Lol
I opened, then closed a Hyatt card within a month. I had changed my mind and decided I was going all in on Marriott. I regret closing it cause now I can't get it…ugh…5/24.
Thanks for sharing Dustin. We all gotta start somewhere. I think I regret opening The best buy store card and a credit union credit card. I spent so much money on those and I could have saved it all. Take care and happy travels!
I love discover customer service and a good first card but now i barely use it
Btw. I ran the numbers a few times and I’m still getting positive value with my chase trifecta. Now I want a first Amex but the platinum has me losing value if I add that. Besides the plat. What other Amex card should i open up
Regret opening the CSP instead of the CSR would have been a better card given my year 1 spend in travel and would have locked in 2nd year of $450 instead of $550 today. Not a huge regret but left some value on the table.
The damn Apple Card! Completely wasted that credit card slot! It does nothing for me that I can’t do better with another card. And on a treadmill note. I completely botched my treadmill purchase. I didn’t open a store card, but I told myself I would take advantage of 0% intro APR on my BOA cash rewards card so I used that and got 1% cash back. 2. Weeks later I could go through with it and paid it off. I could ha e doubled that cash back with my Navy Federal Flagship Rewards card or even gotten 3% cash if I had ordered through Amazon. I did get the better of all the deal with the sales lady finding a $75 discount which was far more than any cash back. I also scored $50 in store credit so I was saved from my blunder. Oh yeah..Then I opened up the Navy Federal More Rewards American Express a week later. That treadmill could have taken care of nearly half the minimum spend! That was the biggest miscue..
Keep up the good work. Your videos and subjects are more in tune with card holders everyday matters. I don’t care about flying business class to Bora Bora to get the best value for my points.
good video but can't you pc your discover it miles to discover it?
amex business hilton since never got bonus since 1k of the spend did not qualify (even though nobody could tell me why and a rep had previously said I would get the bonus)
if i was you the cards u regret opening i would close it who care about temporary point drop regardless of limit or age of acct.
I regret the Best Buy credit card the rewards suck
Thanks for another great video! Quick suggestion, take new pics for the thumbnails – the new haircut looks great! your thumbnails made me think these were old videos (it seems to me you’re doing new videos a disservice). Just a thought! Keep it up man, road to 20k 👍🏻
For me the Amazon amex business card. I thought I was getting extra 15% off my Amazon devices then found out it was just chase cards. And I thought I was getting bussiness prime which I am not.
Also I have plenty of cards that can score me 5% at office supply stores with points that are worth more than a penny.
It is only bad tho because you can only have 5 Amex cards.
😲
You were an RPH?!
I opened up credit cards and I did not pay them off … we will not make that mistake again .. we got one year then we will be under chase 5/24 … then we will start with. Chase cards
I regret opening Capital One Secured card.. I'm stuck with it. No way to upgrade or product change!
Just a ridiculous card.. try to stay away of this one.
Amex Everyday card. Completely useless – it now spends Everyday in the sock drawer.
I really liked this video. I would like a video of the most suprising card you've opened and loved more than you thought. (Must exclude chase and amex they get covered enough).
“Credit card graveyard” I learned something new 2day 😁😁😁
I kinda regret getting the Sapphire Preferred last year instead of the Reserve. I didn't realize how easy the $300 credit is, but living in New York, I can easily use that credit in a month. Also, I can use the 10x on Lyft right now. 1 of my jobs reimbursts me for car rides home at night. All I need is 57 rides at $44 and that'll wipe out the new effective annual fee of $250. Not a huge regret. I'll wait until July when I'm eligible to upgrade. My biggest regret was NOT signing up for Chase and American Express sooner. Missed out on so many valuable points by sticking with my 2 Capital One cards for 9 years.
I'm going to have to add Bonvoy Brilliant to the list. I don't think it is a bad card by any means, but I'm fed up of Marriott's devaluations, call center, and what I see as rising quality control from their mid-tier brands. I just looked back, and I'm redeeming about once a year, set to get worse with the March point hikes. I stayed at the Westin Wall Vancouver in 2019 for 35K points, only time that seemed fair, jumping to 50K! Now sitting on 336,000 points, I really don't need a free night for $150. I may have to start counting the points at .007 cpp, or move them to Alaska Airlines within the next month (in case they change that too). Business Platinum gives me Gold Marriott status now anyways, so the Brilliant can Bonvoy off before renewal.
Currently have 6 credit cards and started in 2018 after paid off 2 years worth of student loans. I still have 2 loans left.
I'm proud of opening: boA Cash Rewards (1st card opened ever), Discover It (Student Card to build credit), Citi Double Cash (Need to buy video games for content creation), and recently opened Capital one venture one card.
Cards I've regretted opening: AMEX Blue Cash Preferred (Living on campus my dining account covers groceries) and Uber Visa (Nerf changes and only put subscription fee on it)
Yo Man ! UR hilarious ! In all these months of viewing your videos, I didn’t realize You’ve got jokes ! Thanks 4 helping me not to apply 4 the Discovers Card ! LOL!
I opened and closed the no AF blue cash after a yr. The good thing is it freed up 1 amex slot lol
I didn’t know you were a pharmacist. That’s awesome!
Unfortunately I gave up on that because I think the job market is too saturated with pharmacists.
Mine would be the Macys card. I was buying something that was around $300 and the guy said if you get this card you get 10% off first purchase.
Got the card and my $30 sign up bonus. Never used again.
Regret all store cards except Target Red Card and Chase Amazon VISA Signature.
You look like Casey Neistat
LOL, as I was getting ready to type Discover IT Miles, he said it. And they only gave me $1k limit. It will probably only see one charge every six months
I'm starting with the Chase Ecosystem because it seems like the most well balanced and easiest to get your feet wet with.