5 MAJOR Credit Card Mistakes To Avoid

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Video Outline
0:00 Intro
1:07 Credit Mistake #1
3:23 Credit Mistake #2
6:23 Credit Mistake #3
7:45 Credit Mistake #4
9:26 Credit Mistake #5
11:48 Outro
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Disclaimer: I am not a financial advisor. Brian Jung does not provide tax, legal or accounting advice. This material has been prepared for entertainment purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

[@Jungernaut]

Check Out My Favorite Cards Here: brianjung.org/Favorites Click "Show More" to see Ad Disclosure Join My Free Credit Card Private Group Here: brianjung.org/FacebookGroup

[@SpencerJohnsonOfficial]

The only way to win the credit card game is by never paying a cent of interest. As you mentioned, this may be beginner information, but it's so important to remember that it bears repeating. Great video all around man!

[@Jungernaut]

Thanks Spence ✊

[@nickimillennium]

Also, have an idea of what your own personal spending limit is on the card and don’t go over it in order to maintain a low credit utilization

[@user-nu3gw3wl2o]

massive value thank you brian

[@seanbusse392]

Build it up baby!

[@chrisoverbey5937]

More super stuff Brian. Wish I could see the Toronto thing

[@Inspirethrou]

Brian still the king of CC

[@Jungernaut]

✊✊

[@MMA_SLEEP]

I’m 16 and always talk to my dad about benefit of both using debit card and using credit cards but it’s Interesting to see all the levels of credit cards and how to climb up thank you for these videos

[@NaeemKhan-vq8qh]

Good video

[@user-se4qi6xz6e]

good 👍 thank

[@EthanPatrick_CreditCards]

A huge mistake a lot of people make is not getting Chase credit cards first. Can’t tell you how many people I’ve talked to that have regretted not getting Chase cards first because of their 5/24 rule, and they couldn’t get them later.

[@patekalfredo3655]

Can you explain what is the 5/24 rule and why is it vital?

[@Jungernaut]

Well said ethan!

[@nf3heroiclibrary756]

@@patekalfredo3655it’s not a 100% thing but likely that if you accumulate more than 5 cards within a 2 year time frame from ANY banks chase will deny you a card. So you’d be waiting around for a 5th card within two years to fall off to 4 before chase would allow you one of there’s. (Makes you look risky). Other places don’t have that rule so get theirs first then get the others. Chase business cards like the ‘ink’ don’t count against you on this though

[@ThaninViriyaki]

@@patekalfredo3655 "The 5/24 rule states that if you have been approved for five or more credit cards in the last 24 months, you will automatically be denied for any Chase credit card products. This is to prevent consumers from applying to credit cards solely for the welcome bonus and closing the account before the annual fee comes due."

[@carryeveryday910]

@@patekalfredo36555/24 is a rule Chase has where if you have opened 5 or more cards from ANY issuer in the last 24 months you will automatically be denied for any Chase card you apply for. You should get your Chase cards out of the way first so you aren’t limited in your ability to get them later.

[@CharlesNnaOpurum]

still the king

[@jonathanyates7883]

I’m a beginner on this and since I live in Scandinavia there’s not that many credit card options as in America but good thing is that most of them are free of annual payments but the point system isn’t that great but still even after using it for just 1yr I haven’t paid a penny in interest and tend to keep it that way

[@DjRatchet]

Love your videos bro, then I saw you by my house in MD lol

[@louisnvrr]

The fed, not congress or the president, raise interest rates my dude.

[@aerykfilmsphoto]

1:38 the government has next to no control over interest rates. That would be the federal reserve.

[@LittyJonez]

The funniest thing is I know people that say “omg I use my card so much for the points” yet they have a fat balance on it lol… so basically that 3-5% you get back is completely demolished with the 28% interest you pay in one month in the balance you racked up 😂 🤦‍♂️

[@antoniogalang4260]

Brian what wallet do you have ? Would love to check it out!

[@yancyhammondjr]

Brian does the American Express Gold Card have a spending limit? Also whenever i want to apply for the gold card i can just ask you for a referal link?

[@robby_zhang]

Hey I’m an 18 year old off to college with no credit history but a chase account with some funds. Should I apply for their student card (Chase Freedom Rise) and then Freedom Flex or just send it and first apply for the Freedom Flex?

[@peterwilliams2183]

Brian what about hard loans ?

[@treasurehunter1713]

Brian. If I have the cip for my business 1 and I refer the link to p2. Now I want to get another cip for my second business. Can p2 refer the link back to me and get that referral bonus since it's for my second business which doesn't have the cip yet?

[@robertm8380]

Do you have to have a business to get a Business credit card. I like to get a Gold Amex Business Card

[@fbnmndz]

which wallet are you using boss?

[@xMontorix]

How to use a credit card perfectly. No Annual Fee Cards. Spend less than 10% Pay it in full before the due date Interest rates don't matter to me because I make sure I never have to pay it.

[@Hamhockss]

Can someone explain how politicians affect credit card interest rates and why?

[@ajh.4131]

Federal Reserve determines the interest rates on basically everything. Credit cards, car loans, mortgages, savings accounts, etc. Depends largely on how the economy is doing.

[@Malctrades]

Hey Brian would it be bad if I used my Amex gold card to pay for my rent, just to get the welcome bonus ?

[@manutd9899]

Do they have some sort of transaction fee for using your card?

[@Patrickjcoyne83]

Question about the bonus offers from American Express, is it one bonus per card per lifetime or is it one bonus across any card for your lifetime? Ie one for the platinum, one for the gold and another for the green card?

[@ednuts6194]

Yes you can get a bonus offer for each card, just be mindful of the annual fees

[@Cesar-Avila]

Also remember you must get the gold then the platinum. You will not receive the gold bonus if you get the platinum cirstt

[@poneil93]

Brian, is there a certain amount of time i should wait to apply for a car loan or lease after applying for a credit card?

[@Jungernaut]

There’s no set required time. Just recently I got another car loan and applied for a new card back to back one month apart from each other. some people recommend 2-3 months apart. I personally just apply without stressing about inquiries. If I get denied for too many inquiries at once I’ll cool down for another month and then reapply then

[@ZakBoxer]

So when you mean paying your balance in full each month, do you mean the statement balance or full balance?

[@Jungernaut]

Statement balance!

[@iali00]

Never pay interest. That’s how you win. The rest is just icing. You’re not wealth building sh*t with credit cards.

[@diamondd83]

Does anyone have the Amex business platinum? Is it the same as Amex platinum ? Thank you

[@milestorgerson6275]

r u korean

[@rxpents]

First

[@EM3Finance]

Many people's first Credi Card mistake is getting one in the first place. So BE SMART

[@mrchromexxx]

you clearly dont know what youre talking about. good luck showing banks your real worth without getting any credit card ever. treat it like a debit card and boom your score is skyrocketing, plus credit cards are more secure than debit cards. have fun being salty over financial finesse tho

[@twelvenation6393]

First mistake is getting one second mistake is having someone on KZbin tell you to get one

[@uncledrew98]

Just curious what's your credit score

[@noddy5]

Dumb take💀

[@Pachyderm11]

Skill issue 🤧

[@Mari-rd6yt]

If u suck at using them just say that

[@Jungernaut]

Jung nation. Let the roasting commence 😤