TOP Beginner Credit Card Mistakes to AVOID

#creditcards
These are the top credit card mistakes to avoid as a beginner.
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[@LifeBackend]

It's crazy how much money you waste by just using a credit card incorrectly... BUT it is even crazier how much money you can make by using a credit card correctly

[@Plazali]

High risk high reward... But it's controllable

[@Plazali]

@@stuntxray Duke 👊

[@JohnPaul-ol5zl]

Agreed. I see the Credit Card as a Gatlin Gun at the shooting Range. If you use it properly, aiming at the old scrap card at the end of the shooting range, you can have some real FUN. Now, if you're irresponsible and start shooting wildly, well the other individuals around you will quickly wake you up to reality in an aggressive manner. The police will not get there fast enough to take you to jail. I know my apology might not be perfect, but you get the picture. Be Responsible in all matters as things can go side ways real quick. You have to be very disciplined when dealing with money, especially when it's a loan....short or long term.

[@bryanadajar3684]

What duterte did was crime. Killed people.

[@SpookyStoreOT]

Crazy how if you don’t know how to use one properly you can rack up debt but if your smart about it you can take advantage of the benefits/ points

[@jademaldonado9247]

I don’t think you even understand how helpful these videos are to those of us who had parents that never taught us about any of this. I appreciate these videos more than you could know!!!

[@phoenixsoriano]

I don't think alot of our parents understood it themselves

[@jademaldonado9247]

@@phoenixsoriano speak for your own lol

[@bvbfans123]

Right! I recently got a credit card and I’ve been wondering what is the best way to use it to build my credit. I grew up with a mom who had a lot of credit cards but always in credit card debt so I never learned how to properly use one.

[@taylorsanders8742]

​​@@jademaldonado9247 they said a lot, not all. And their correct, most parents don't

[@chiranjeeveemohapatra]

Why should your parents teach you everything in this world? 😅 They did their part as much as possible now you do yours.

[@hothotheat3000]

The only thing I disagree with is automated payments. Automating payments makes people take their hands off the wheel, so to speak, in terms of reviewing their statements and seeing what they are spending on. Please review your statements and see your spending habits. Look at where your money is going and see if you can reduce spending elsewhere. Make sure that there’s nothing fraudulent in there.

[@okctrl]

Yeah. If money goes or comes anywhere, I'm reviewing it. Been undercut at work once and overcharged so many times.

[@bluz1864]

outside my fixed internet bill, I don't use autopay for exactly the same reason. I generally know where my money goes but being human, I still mess up. When I do, I need to see where

[@jolenaboo]

I agree.

[@pgplays3425]

Put alerts so every time a transaction goes through you get an email+text message. I automate the payment and as long as I see everything good with the notifications I don’t think twice

[@jzq891202]

gotta balance the risk of forgetting to pay and take penalty. some of us have way more important things to worry about than stay on top of every dollar (family, kids, work etc). I also email alert anything larger than $100 to review. it’s a good trade off for me personally

[@EthanPatrick_CreditCards]

One mistake I think a lot of beginners make is being afraid of holding multiple cards. There’s nothing wrong with having more than 5 cards. You arguably get more benefits to having multiple card. The only real downside is managing them, but if you have all or some cards with the same issuer, this isn’t much of a hassle.

[@johnsfinancetips]

Great point Ethan!

[@elginwang1572]

@@johnsfinancetips I am a beginner, I thought more cards will hurt my score. Currently, I have 2 credit cards but I really want 1-2 more, should I get it?

[@iPlayOnSpica]

Strong point for responsible card holders, and the only mistake I've been making. I'm still at 2 cards, but I'm approaching a good opportunity to apply for a Venture X (got really good approval odds with my credit score) for that tasty 75k bonus by spending $4k in the first 3 months. I also want to open a Chase Sapphire, but I'm not spending an additional $4k over 3 months anytime soon.

[@bryanadajar3684]

What duterte did was crime. Killed people.

[@brandonknable7890]

@@elginwang1572more card’s actually help your score long term Example lets say you miss a payment when you only have 1 card your payment history percentage will drop by a lot. So lets say 1/12 possible payments missed. Vs if you have 10 credit cards, and you miss a payment thats only 1/120 possible payment’s missed. Getting a new credit card will damage your score short term because of inquiries and looking for new credit, but like muscles you tear it down short term for long term gains

[@orangemc9358]

As a 21 year old trying to crack the code that is this game, people like you are INVALUABLE. Genuinely, thank you. I would have the hardest time without your aid.

[@Antares_451]

21. Best advice, find you a credit union to get into.. If you have any family in the military, ask them to hook you by opening an account..

[@carryeveryday910]

It’s very simple. Have all your bills set to autopay on a credit card and have the credit card set to autopay the full statement amount at the end of the month from your checking account. That way the money is always available to pay off. People get into trouble by charging a credit card when they do NOT have the actual cash to pay it off.

[@BickBull]

I'm learning something here, as an 16 year old, I'd be taking those tips.

[@blackloki9]

The internet has always been a great source of learning continue to be digilent😊

[@mattmcnamara2345]

I love how you not only stated the mistake but also a solution! You have been extremely helpful in my credit journey! Thank you!!

[@johnsfinancetips]

Not at all and I really appreciate the support!!

[@negative7proxy]

I use my credit card for certain monthly bills (groceries, gas, subscriptions, etc.) and pay it off every paycheck. I've never been charged interest.

[@IrvinTimeBW]

Wish I had videos like this in my early 20s.. I'm in my mid 30s now, working on fixing my credit. Thanks for sharing!

[@Mercifully-Millicia]

100%

[@JohnPaul-ol5zl]

Overall, good video. I would just highly recommend adding the Importance of Only getting a credit card(s) IF you are very disciplined with spending. You mentioned this some, but i would Emphasize it at the very beginning and end of the video.

[@Dragon-Eyed711]

As someone who’s been through a lot of trouble getting my info figured out, and finally able to start building credit. This video has been very informal on precautions taken with owning one so thank you very much

[@boomtothesooner7426]

Very informative. I have three credit cards. One I rarely use, and it's only there to feel safe in case of an emergency. Never needed it for an emergency yet, but it's nice knowing it's there.

[@OrgNobody13]

Thanks for the tips, boss. I'll follow this advice all the time

[@haileycameron4254]

This is so helpful and informative! Thank you so much!! Subscribing!!

[@dawdyand1]

Thanks for recording this Brandon! Very useful! Mahmoud

[@Gentlesideoffury]

thank you for the tips!!! I'm super squeaky new to this

[@EHLAiNEEE]

Thank you so much!! This is very very helpful. Love from Philippines!

[@TheGodlyBeautyBlogg]

Wow you explained everything perfectly! You are very thorough and helped me understand!!

[@Quicknpointless]

THANK YOU. This helps me a ton!

[@mel-bj3ty]

This is so helpful ! love your videos

[@Salma-oq6oz]

Soo insightful!! Thank you :)

[@Ginso21]

Thank you for the tips!!

[@MissD934]

EXCELLENT VIDEO!

[@druidsongevergreens]

I would love a video on credit card types for their best uses. Or a series of videos on this thanks

[@katheavila2970]

I love your content!❤

[@CaineL08]

This was a fire video, hit so many things on the head with FACTS 🔥🔥🔥sharing this video with friends and family

[@XBlackTsukuyomi47]

Thank you for your knowledge.

[@alexguild]

Very helpful thanks

[@user-yd6xi5ze2e]

Thank you this video was so helpful 👏🏽

[@IkeReedy]

Very cool, and very helpful!

[@lupee9474]

thank you! i finally don’t feel so lost!

[@Pixl8dwhmsy]

Great video! 🤩 thanks 💕

[@HitsTownUSA]

I agree with everything you highlighted except old sock drawer cc not used, you don’t need to make a charge every month or even every six months, however one transaction in a calendar year will suffice. I have a old Credit Union Visa and a Chase Freedom I’ve had since 2008 and I’ve gone close to a year with no whisper of Chase closing the account. Over a year then yes that could happen. As for the credit union, I finance a car and have a checking account so I’m sure they wouldn’t close the card for inactivity. Great video!

[@Antares_451]

Credit union are the best. I have NFCU and their interest rates are 1/2 the rates of all the big card companies..

[@fleurdavril1465]

Yes, that 's exactly what I do...

[@Fred2-123]

@@Antares_451 Who cares about the interest rate? Pay it off each month and don't carry a balance and you don't pay any interest.

[@Antares_451]

@@Fred2-123 Lol, I obviously do as I have a proven strategy I've been using for over 15yrs. Additionally, 1.99% is 90x better than 24-28%... I can afford the measly interest charge. Large purchases of 10-15k I can pay of over 1.5 months. Why, because I use my cash to invest heavily. My annual income is above 125k, of which 46k is tax free. Before Thanksgiving 23", I opened a VentureX (23k) and the Chase Sapphire Preferred (18,600) I spent over the 4k ( New customer PC with the GTX 4090 and a Bravia X95L and about 3k for the family and siblings) limit for the bonus points on both cards over the blk Friday, cyber Monday holiday.. I invested an additional 20k cash from November to present.You wouldn't even under the amount of gains I'm currently sitting on, so that $34 interest charge I occurred ain't chit. I need my cash to make me more money. The cards are completely paid off now. How do I have a card with 1.99% you ask?? Welp, My credit union was offering 1.99% for 12 months on their American Express rewards card with 3x on groceries, gas and travel. Opened it July 23". Also got 30k bonus points with a 25k limit.. NFCU also has ZERO charges to transfer a balance.. Currently loaded up on point for my summer travel season. It also helps to have an 800+ credit score.

[@wlonsdale1]

So you pay interest on the card?​@@Antares_451

[@user-yq7bz8kk9w]

Thank you so much for this very informative video.

[@philipbugala]

Thanks for the knowledge

[@RetroDoria]

amazing!! thank you sir

[@AbigailSteele]

This is an incredible video.

[@damndavid1098]

Super early that the title says “Credit Credit Mistakes to AVOID as Beginner” 😂

[@norude]

Credit credit

[@JakeVanderPloeg]

Hahaha I wouldn’t have even noticed if u didn’t say anything

[@hi.idonotexist]

Credit credit

[@johnsfinancetips]

hahaha thanks for catching that!! Good thing this is John's Grammer Tips

[@norude]

@@johnsfinancetips "as Beginner"? Shouldn't it be "as a beginner" ?

[@giovannivillegas2363]

BROOOOOO THANKKK YOU THIS MAKES SO MUCH SENSE YOU BROKE IT DOWN PERFECT NEW SUB FOR SURE

[@WarchiefRoric]

These videos are fantastic please keep up the great and informative information!

[@SanaiaBamboo]

Thank you for this

[@spiritoftruthpodcastwithla5711]

Awesome information thank you

[@ARtorNot8]

This was super detailed! I have a clearer understanding of how that system works 👍🏽

[@caroljohnson5048]

The method this video pointed to isn’t really working for fixing your credit and getting rid of negative items off your reports.. *Future imperative corps* is the solution to all bad credit score, negative & derogatory items on reports 👌

[@caroljohnson5048]

Their abilities to swiftly resolve issues with credit distinguish them from others. You’re the best *future imperative corps* keep up the good work and thanks for fixing people’s credit.

[@caroljohnson5048]

Their name is spelt as *Future imperative corps* … They’re specialized with finance and credit😊..

[@caroljohnson5048]

I’m glad to get the privilege to get to know about their name and looked it up online.

[@caroljohnson5048]

*All you just need to do is just to look their name up online to see their website*

[@jennybaipaigalan8486]

Wow thank you for this video. I'll be having my 1st credit card. Thank you

[@LaszloDudas08]

Great video I just got the amex platinum and I decided to start focusing more on smarter credit card decisions since I don't actually travel much... Yet 😂

[@Charmander606]

Thanks king!

[@gwabsedits]

Thank you!! I’ve been making literally all these mistakes hahaha

[@smokeybrown8752]

Super informative🔥

[@YeeeeGreg]

Great video! Video informative and helpful. Thank you man!

[@caroljohnson5048]

The method this video pointed to isn’t really working for fixing your credit and getting rid of negative items off your reports.. *Future imperative corps* is the solution to all bad credit score, negative & derogatory items on reports 👌

[@caroljohnson5048]

Their abilities to swiftly resolve issues with credit distinguish them from others. You’re the best *future imperative corps* keep up the good work and thanks for fixing people’s credit.

[@caroljohnson5048]

Their name is spelt as *Future imperative corps* … They’re specialized with finance and credit😊..

[@caroljohnson5048]

I’m glad to get the privilege to get to know about their name and looked it up online.

[@caroljohnson5048]

*All you just need to do is just to look their name up online to see their website*

[@CreditFly]

It's always appreciated to learn the fundamentals especially for credit card beginners. Credit can be a double-edged sword; it can be a benefit for people who know how to use it but devastating for those who don't. It's important to being able to handle your finances responsibly. Keep up the good work.

[@daryldeal]

Things to add (not really specific to beginner mistakes tho and not sure if others have mentioned) 1. Not keeping track of expenses - do this just to make sure nothing fraudulent is happening. Habitually review your credit card expenses and make sure you recognize each transaction. 2. Paying late/after the due date - you will be subject to late payment fees if you do this!

[@BakoBoi]

I run the Amex Trifecta and Citi Trifecta (once I'm eligible for the SUB on the Rewards+ I'll make it a quadrifecta), I think the citi trifecta is a cheap and easy way to optimize for beginners. 2x points on double cash, 5x points custom cash, 3x points for airfare/gas/groceries/restaurants on the premier ($95 fee but $100 credit). IMHO it's better than the chase trifecta in earning points and has some great transfer partners if you want to fly business.

[@asciilogic]

Awesome video

[@daisdais508]

Thank you!

[@mohamedeassa]

Great video

[@johnsfinancetips]

Thanks for the support Mohamed!

[@Highriskjojo]

I just started not too long ago and have a $300 credit limit, what I do is leave under 6% left so it report as my card being used for my statement cycle as low credit utilization then just pay in full before payment due date.

[@limunito]

thank you Slater Young

[@carmenmich]

I made every mistake because I didn’t know any better. Thanks for making this video! I am finally learning and back on track. Could you make a follow up video teaching people what to do after you’ve made all the mistakes and you want to be back in good standing and attain high limit credit cards again? When I say all the mistakes don’t mean being 30 days late. I’m talking about getting high limit credit cards and being in the good graces of the bank. I met a lady who said she had been banking with Chase Bank for 30 years and she got behind on a credit card or was late or something and then she got back in the good graces but she only had a $2000 credit limit. I was telling her about the trifecta , but I don’t know how she can begin to get to where she wants to be with Chase again.

[@wielsonf]

I only got credit card last year because of the no annual fee forever promo. Just got my second one from a different bank this year for the same reason.

[@eddiejoe]

excellent video

[@johnsfinancetips]

Thank you thank you!!

[@visittavee7773]

Very true.

[@Robiwansenobi]

I got my first credit card last year at 20. It was a Discover student credit card. I asked for a credit limit of $2,000 and they gave it to me. My credit score after 6 months was 759. They raised my limit to $2,800. I got that card cause they have 5% Cashback on select purchases each quarter and 1% unlimited Cashback. They also will match all my Cashback at the end of my first year (which is coming up this November). Right now I have $150 in Cashback, at the rate I’m going I will probably have $300 to $400 in Cashback which will give me $600 or $800 back at the end of my first year.

[@loganbrown1727]

i just got this credit card. Is it a good card if i just use it for gas? I just don’t want to overspend and end up going down a bad hole so i’m trying to spend it on something i always have money for.

[@Robiwansenobi]

@@loganbrown1727 you can use it for gas, and they even have some months where they offer 5% cash back on gas so long as you don’t get it from wholesale clubs. My advice, try to maximize your cash back and use it for small expenses.

[@_alexmuerto_]

@@loganbrown1727yes i got a 738 with it at 18 years

[@berrystella17]

@@loganbrown1727Same

[@losoloaded4038]

I also have the discover it student card, with a 3k credit line , I’ve got about 20$ cash back rn and they’ll match it, I rarely have used my credit card until the last 2 months , but i got it 3 months ago . My score is also a 700 right now at 21 years old. Discovery has the best credit card for younger people like me !! Also no interest for the year

[@miketrampcasaba7681]

Very informative. Thanks, John! 👏

[@jekaterina-kartjayhi2877]

Thankyou so much for this information I just got my fist card and want to use it wisely

[@STEVENFARMER4LIFEFARMER]

Thank you for the information

[@Sierrajackson00]

The method this video pointed to isn’t really working for fixing your credit and getting rid of negative items off your reports.. *Future imperative corps* is the solution to all bad credit score, negative & derogatory items on reports 👌

[@Sierrajackson00]

Their abilities to swiftly resolve issues with credit distinguish them from others. You’re the best *future imperative corps* keep up the good work and thanks for fixing people’s credit.

[@Sierrajackson00]

Their name is spelt as *Future imperative corps* … They’re specialized with finance and credit😊..

[@Sierrajackson00]

I’m glad to get the privilege to get to know about their name and looked it up online.

[@Sierrajackson00]

*All you just need to do is just to look their name up online to see their website*

[@almaikyagh]

Thank you for sharing

[@heyokannika1207]

The method this video pointed to isn’t really working for fixing your credit and getting rid of negative items off your reports.. *Future imperative corps* is the solution to all bad credit score, negative & derogatory items on reports 👌

[@heyokannika1207]

Their abilities to swiftly resolve issues with credit distinguish them from others. You’re the best *future imperative corps* keep up the good work and thanks for fixing people’s credit.

[@heyokannika1207]

Their name is spelt as *Future imperative corps* … They’re specialized with finance and credit😊..

[@heyokannika1207]

I’m glad to get the privilege to get to know about their name and looked it up online.

[@heyokannika1207]

*All you just need to do is just to look their name up online to see their website*

[@nrgking1667]

Best video ever

[@jamjamjamjamjamjamjam]

I wish I saw this ten years ago when I got my first credit card.

[@cesiacotache9961]

Thanks John! As always, it is a great video! I jumped on my credit card journey thanks to your videos. I applied to the Built card but got denied. I was only an authorized user for about 3 years when I applied. I have a CapitalOne Quicksilver card for fair credit for about 5 months now. How long do you think I need to wait to apply for my next card? Built, Citi Custom and Chase Unlimited/Flex are my desired options. My score in TransUnion is 768 and 682 in Equifax. Thanks!

[@cesiacotache9961]

@@igjefferycole4you412 thanks for the advice!

[@DuuhK]

I was told by a couple adults that i need to have a balance active and let interest grow on it so that i could build credit because they said if you just pay it back on time every month you dont build a good score which made no sense to me and ultimately turned me off of getting a credit card because i was not trying to pay thousands extra just for a fake number to be in the 700s

[@HitsTownUSA]

I’ll definite revolve a balance on a 0% APR intro rate, WHAT is important is to make sure if you carry that balance on that intro rate it doesn’t put you over the good utilization below 30%….oh yes and make sure that balance is paid off before intro expires

[@brinfromthevalley]

use your oldest credit card with lower credit limits for all online purchases and keep it just for that

[@LacerdaX10]

I think cash back can be useful either if the APR is smaller the another one, or even better of you get a promotional 0% APR, and pay another you might have with up to 25% APR WHAT DO YOU THINK?

[@timothysteadham331]

There is a time when it’s ok to take a cash advance on a credit card and that’s for business expenses. Federal employees are expected to take cash advances to pay for things in cash but we are reimbursed for everything.

[@xBLACKSWANx]

Even with auto pay, you need to make sure that the payment posts. I cannot tell you how many times I've seen a payment fail and a borrower gets dinged with a 30 day late. Most major creditors also will not remove the late from credit reporting.

[@aminatabangurah932]

I’ve never trusted auto pay😅I set it up but it’s set up for the day it’s due so Ik it’s gonna take a couple days to actually post. I always end up paying a few days-a week before it’s due

[@stephaniefythm]

No doubts , A good way of growing and saving your money is through investing . You don't need to have much before you can invest. "That little money you have now can make you millions if you invest it wisely". I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made

[@Alexedmartin.]

Nice one .Any investment tip?. I would love to know how you made it this far

[@stephaniefythm]

Okay, so generally speaking, investing calls for more knowledge. For this reason, it's crucial to have a strong support system (financial counselor) to lead you through, particularly while choosing assets. I work with (REGINA LOUISE COLLARO), a registered wealth management company's partner investment advisor. For the record, it has been the best experience for my finances. You may have heard of her because of how well-known her services are. She helped me become financially solid through investment, and now I profit from her passive income strategies on a monthly basis.Therefore, I'll suggest that you choose a reliable investment advisor for yourself.

[@Alexedmartin.]

I've read testimony of people employing investment advisors to help them become more financially stable, therefore your investment advisor must be pretty good. Would you mind providing more details about this person?

[@stephaniefythm]

​@@Alexedmartin.Sure Martin. You can check out online for more information. she can work with

[@ugojazzy7812]

​@@stephaniefythmPersonally, I'm blessed and realizing I'm not the only one working with Regina Louise Collaro. I will consider myself lucky. I've been able to feed and make a living through her advice and great work. For such a person as Regina, I owe her gratitude, support and endless prayers as it is not easy to gain access to such a competent and reliable adviser. Who isn't just wise but has all it takes to handle an investment and is good at what she does.

[@froodefroo]

took a cash advance once because i paid all my balance and then realized i didnt have enough left in my chequing to cover automatic with drawls... yeah. "Eaten Alive" sounds about right.

[@johnsfinancetips]

Yikes!!

[@GungHoSourdough]

I have so much to learn and I’ve been carrying my credit card account over a little while but it’s been so difficult for me to pay it off.

[@Pixl8dwhmsy]

You’re so fine 😉🤩🤪

[@orangeponygsxr9366]

Thanks for this video got my credit up to like 790 when I was 20 then proceeded to destroy it and haven't done anything to fix it till recently I got a low limit card to start building back up

[@kingquan3826]

Same. It’s really slow too

[@RobbK94]

Open a savings account and put whatever your credit limit is in that account. If I need to use my full credit limit I will use the money in that savings account but if I just use my credit card to buy gas I will use my own money

[@samuelknight5512]

Does this allow you to access all the rewards?

[@Lanainvestor]

subscribed

[@diegooso1470]

Usually when i use my card is tend to leave less than 5% before statement date if i leave it to carry to the following month then the next month i just pay off at the last 5%

[@joevelazquez1839]

I have ADHD and it’s difficult for me to sit through an entire video But I cannot believe I listened to and understood everything he said. Well done :)

[@johnsfinancetips]

Thanks for the support and happy to help!!

[@alexnino7111]

Same here. He's speaking smoothly and quickly. I think that's why

[@elianad.9646]

I have a question. So let's say there's a reason where you need to use over 30% of your credit limit to buy something. If I pay down this balance to under 30% of my credit limit before my credit statement gets reported, and then pay the remainder of the balance in full by my due date, is this the proper way to handle this?

[@shockjock35]

If we pay off the balance by the Statement Closing Date for a $0 balance help your score. But a credit card not being used that has a $0 balance hurt your credit score. If the closing date is what’s being reported to the credit bureau

[@johnsfinancetips]

Pay majority before closing date to keep utilization low. Then you pay rest before due date and you should be good. Showing some utilization but not a lot is the goal, hope that helps!

[@dr.markevers8331]

You need to keep your utilization rate below 30% to maximize your score. Your high balance gets reported, so you need your high balance to be below 30% of your limit all month. Then, As John tells you, pay in full your balance once your billing cycle closes. You’ll see a statement balance, pay that in full. Basically, use your CC like a debit card and pay it off every time you get paid. Make sure you are sticking to your budget. Research (multiple studies) shows we spend more on CCs vs cash. So, you need to be hyper disciplined using them. Otherwise, you end up spending more than the rewards you earn.

[@infamoushx9869]

I always pay of everything 2-3 days before the closing date. Is that not good?

[@jacobcooper269]

@@johnsfinancetips I'm not sure I understand this. I went from 0% to around 8% on my DiscoverIT card and it actually hurt my credit score rather than helped it.

[@user-vw9ev9vl7r]

Bro gave a tip on how credit scores work that youd never find searching. Golden bro

[@TheeMan101]

Thanks.

[@superiortechairrefrigerati8979]

Love your content but my question to your last point.How can I close down a CC to move on to another bank institution or promotion.

[@jojobywilson]

You are awesome

[@johnsfinancetips]

No, YOU are awesome haha thanks for the support!

[@Nicolas_1311]

Truly amazing videos, as a college student who is getting into finance and credit cards I thank you!

[@christkahuka7277]

I wish I knew a lot of these facts earlier… I made the mistake of opening a store card and now it’s has been well over a year and I have no real desire of using it anymore. What should I do?

[@mserrata19]

When should you close out a card vs keeping it?

[@Raven7608jhg]

I wish i saw this 10 years ago 😢. Very useful information

[@samonymorris4680]

I was confused on the last part because you were saying once a credit card is no longer beneficial drop it and go to another that benefits you. But earlier in the video you were saying how the longer you have credit accounts open that are ok good standing then it will positively impact your credit score. So what is the solution? Would it be having only one good standing grad option in this case?

[@nnchow]

How does cancelling cards affect credit score? How soon would you recommend closing?

[@druidsongevergreens]

Never close a card. Use every card every few months and pay it off within weeks to avoid paying interest. It's a red flag to have any credit account closed ever. I learned this the hard way.

[@Nudo1]

For mistake#5: - How do people with over 50 credit cards keep track and use their credit cards? - What if you have multiple of the same cards? For example, im sure a lot of people reapply for Chase cards due to the welcome bonus renewal. Does this process replace the old card or will you just have 2 of the same cards that now you have to use?

[@johnsfinancetips]

Great question. -excel spreadsheet, that's how I manage so I know which cards I've had -you'll have multiple accounts, but usually I've closed the old one so it's not a big problem. Hope that helps Alvin!

[@MannyCovington]

Definitely important to avoid these!

[@johnsfinancetips]

You know it Manny!

[@lyricallen6412]

I’m just looking for a credit card that fits my needs as far as doing groceries and buys gas😅

[@mjtan6445]

So happy that I'm doing right with my credit card. Definitely not doing those 6 mistakes

[@1m_here]

Thanks

[@divinechamp3057]

What about my case? I work as a Mechanic and need to buy tools. I applied with the Home Depot Credit Card. Started at 500$ credit limit, its at 2200$ today. My main reason I got it is because of its Financing. Recently bought tools worth around 1500$ But got 18 Month financing to pay with 0% interest. Im down to 800$ and still got another 11 Months to go. I've been paying 100$ every month instead of the minimum of 27$ Am I on the right track? Or did i make a mistake getting the home depot credit card? P.S the 1500$ purchase was the third time I bought using the credit card and every time I bought something I got either the 6 month financing offer, or in the case of this major purchase I got 18 months, so I guess I always get that offer depending on the purchase value.