WORST Credit Cards
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- เผยแพร่เมื่อ 23 ก.ย. 2024
- Bad.
NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
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Our site: www.ProudMoney...
Contact: Adam Jusko adam@proudmoney.com
(for business/media inquiries only; unfortunately I do not have the time to offer thoughtful answers to the many individual credit & money questions I get by e-mail --- but I do read them and try to incorporate answers to common questions into future videos!)
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It's refreshing having a "Worst CC" list that isn't the ones we already know (e.g. Credit One, etc). Thank you.
Yep, I agree
Credit One Bank of another subprime issuer with a card that hits you with fees every time you turn around!
Amen on that one
So glad I DUMPED that POS card almost 2 years ago. 🙄🙄
Home Depot really dropped the ball with that one.
First Premier Bank is the worst. 36+% interest, at least $6.25 monthly minimum fee, no cash rewards AND minimum $45 annual fee. 😳🚮
Credit one bank - the worst.
Amen on that one
Yes
First Premier Bank makes Credit One look like Chase
@@FlexSZN23 hahaha 😆 🤣 😂
Credit One, Credit One, Credit One. Interest accrues as soon as you swipe.
Yeah, that is true with some of their cards, which is definitely bad.
As of 7/2022 they dont charge interest as long as you pay the full monthly balance.
Capital One Platinum is Absolutely Horrible!!
That is behind me though, 5 years ago.
It’s my first card I just hope it upgrades
When I was brand new to credit (2014), the Amex Everyday Card was one of my credit cards. So I think of it as a "thin file" card.
Maybe that's who it's for 😉
I have the Home Depot card. I got it when I bought a refrigerator just so that I could get $100 discount and 6 months deferred interest on that purchase. I really haven't used it since. Every once in a while I will get an email with a promotion for a few bucks off a purchase, which is usually something like $15 off a purchase of $150 or more. So, that's pretty lackluster. I just keep it around in case I might need to take advantage of the 6 months differed interest option. Otherwise I just use one of my other cards for my usual Home Depot shopping.
I'm over store cards, what you get isn't worth the cost.
10% first purchase and thats it
I get your point here...but for the credit challenged (just respecting where A LOT of people have to start) as much as these cards suck, if you use them wisely, you won't have to stay in suck! use them for what they're worth (like anything else in life) then RUN LIKE HELL once you step your game up!
So one usecase for the Amex Everyday card is if you want a way to keep your MR points alive but want to cancel one of their AF cards.
I could also see a usecase for the no AF airline cards where you want the sign up bonus but don't want to cancel it after the annual fee hits. Maybe not the best usecase, but something. And the multipliers could be good depending on how much you value their points, though you could probably to better with transfer partners from one of the flexible currencies.
Had a strange feeling that capital one is a poor card. Thanks. I do have Amex blue cash everyday card with 8k CL. I dont have to be concerned with interest because i pay off my ccs before pmt due date. I love it.
Credit one is the worst
Credit One didn't make it onto the list? I was for sure it would've been in the same category as the 1st Premier.
Often bad, but not quite First Premier 😃
@@ProudMoney Can you make a video on how these predatory lenders stay legal?
how is credit one not on the list
Great video! Credit wise, the only thing Disney credit gives you, Is Goofy!LOL!
The only one I listen to when it comes to credit
🙏
Yeah the Capital One was the first card I got when I was trying to improve my credit. It's helped a little there, but has done little to nothing for me overall. My credit is good now, so I'd like to replace it once I pay it off. Trying to find something better.
if your talking about the Venture one I wouldn't it's a great travel card if your talking about a different capital one card do you have any ideas
of what you want?
Thanks for the research in bringing us this great information.
The American Express everyday card is good to add to your available credit, Great for 1 year financing and adds to your points.
Credit one is bad.
Their a disgusting company
So is the first company he talks about
2 things. I got 2 offers from avant and aspire…both no annual fees or monthly fees (or any fees). Apr was par for those types of cards (which doesn’t matter to me as I pay off my balances to $0 by the due date).
Both said I was pre approved for a $2,000 limit. Is this unheard of?
I also (today) got an offer from milestone. Loaded with all fees and super high apr and only a $700 limit.
I feel like this card should have been mentioned with the other crappy cards.
In a couple months I should start having a good chance of getting some real cards with some rewards.
:)
I know first premier has to be in here. U should do a commercial for them 😂
First Premier Bank: The First and last stop for your money!
Lmao
I would die laughing if Adam was like before we being I just wanna say this video is sponsored by first Premier bank 😂
More likely to get sued by them!
Credit One is the worst I’ve ever had
I know when I had Credit One many years ago they would charge me for going online to make a payment. They would charge me for making a payment over the phone. I had to practically mail them a check to avoid those fees but over a week early and then hope that the mailman got it to them right before they decided to process the payment before the due date, which half the time they decided to do that after the due date to make even more fees off of me. It was ridiculous and I'm so glad I paid it off and put it behind me forever! And it was similar to a wire payment fee which was horrible for a guy that was barely making it in life and trying to improve like me.
Hit the nail on the head with the Home Depot card. I still kick myself for getting it before I learned what I know now about cards. I even asked one time why their card doesn't have any rewards and they told me its due to their lower prices over the competition... Sounds like a cop out to me. I still shop there but only use my card once every 6 months to keep it open as it is one of my longest history cards.
Bed Bath and Beyond, you get the card but in order to get the extra savings you have to sign up for a shoppers membership sort of like Amazon and you get an extra 20% that you can't get with just the card. That membership costs and extra $29 per year separate billing.
Adam, seeing you re-upped the Consumer Reports article I'd say okay on Consumer Reports. Can get it though the library. When looking at central air conditioners they list zero. Not many window ones too.
That sucks to hear my blue sky miles AMX is not good. They gave me $6,000 credit. That's my biggest limit card so far.
I think it’s subjective. I’m happy with mine. At least Amex gave me a shot, where Citi didn’t.
I know I'm a year late to this video but here goes. Basically - any credit card issued by synchrony Bank. Terrible! Awful if you have a few hard months financially like between jobs, making minimum payments just to keep everything alive and then your life begins to improve again. They constantly do soft pulls from shared financial information about you and then moves to downgrade your credit limits repeatedly as always. I had a Google Store financing credit account by Synchrony and they started me at a $1200 limit and then 6 months later, reduced my limit down to my current balance every month until paid off! They did the same with Care Credit Card as well! None of my other creditors (Capital One, Citi, Wells, etc) did this. Better to pay Cash then finance with Synchrony - I hate them with a passion about as bad as chase out there!
Always appreciate the content 💳📈📊👍🏾
Appreciate you watching!
I have the chase Disney card. Its one of my oldest cards with excellent payment history. I tried to pc it to a UR card, but chase wont let me. So i just put some spend on it, then use the rewards to buy something for the kids at the disney store at christmas.
I feel like ALL of CREDIT One credit cards should be in there. But for obvious reasons, they don’t need to be. I just know I should steer clear of that bank as a whole. Anyone agree on that?
Amen on that one
I have their platinum card. It's actually not that bad. A month or two in they actually gave me a credit line increase. The only issue I will say I have had with them is any time I want to make a payment, I HAVE to use the IVR system over the phone and it takes about a week for the transaction to complete.
Other than that, I do agree that they are definitely a card issuer for those with poor credit, but they're not worth all that much hate
credit one gave me $300 limit, 96 a year fee. after 6 months, they gave me a SECOND card, this one is $800 limit, only $39 a year fee. idk how to close the first one, but closing cards can hurt credit. i recently had sever store cards increased.....and i mean HUGE. one went from a 1,200 limit to 3,600! another is at 5k limit, its the amazon store card. i also have the amazon visa. im being told cards are considered dormant if not used for 6 months. well, i hate paying interest so i pay off my cards. i have over 21k limits now, but no balance. lmao
no
Age of the account will still be reported for 7yrs…….closing it will only change the fact that you won’t get a on time payment reported every month but if it has been in good standing during the duration of having it…..you’ll be fine
Regarding the first 2 cards, close them as you get nearer to their annual fee dates. You will still have $20K of aggregate credit after these 2 cards are closed. Some CC's will go dormant at 6 months, but most are around 12 months, you can always call issuer to check, or just do a small transaction to keep active. Now plan for your future credit cards by assessing what your monthly budget should be and which cards will get you the highest percentage (like 5%) on your budget categories. For instance, US Bank Cash + has many choices for 5% categories that you usually cannot find on other cards, like the Home Utilities category. Next look for grocery, gas, dining out, etc. what is the next highest spend category on your budget. Sometimes people are too obsessed with Chase & Amex that they are overlooking their actual budget; don't force spending just to accumulate cashback or miles.
@@lewis8789 It will also affect credit utilization which is 30% of your score.
Can you review the Allegiant Airlines credit card...maybe in comparison to just other airline credit cards
Here's the thing about credit cards: you don't get charged interest if you pay your balance in full each month. That's what credit card companies DON'T want you to know.
How do I know this? I do so routinely.
Exactly that’s the whole point
You don't know what you're doing SMH.
Where’s the master card gold card?
lol
Excellent analysis
I started as a AU on my moms Everyday card then later on i applied and got the Preferred version which i like cause i do use it at the gas station a lot so liking that 2x category and the 50% bonus but gotta use the card 30 times and the 95 dollar fee dosnt bother me. but its good for my use and i did get the blue skymiles card also but mostly did it to see what kind of upgrade offer i get next year which i do plan on upgrading it.
If you have one would you recommend closing or keep it if no annual fee
Thanks for the heads-up. 👌🏽👍😁
I just closed 12 of my credit cards 🙃 they keep increasing my limit every 6 months. Unbelieveable I have 10 other low interest cards that im .keeping. open
*You just killed your credit.*
Even Jesus isn't going to be able to save what is lost.
@@Jesus-kt5dc Temporarily, yes, but in the long run, this could be good for him.
Why? Cleansing?
Amen king
oh! I have lowes store card too! went from 600 limit to 1,500 recently. i only ever put like 30 on it, paid it off first chance. lol
This card is very generous with limit increases and they are soft pulls. I started with $750 and I’m now at $20k limit in about 3 yrs. When your credit score goes up then submit an increase, once a month. Good Luck👍🏼👍🏼
The GM card from Capital one. Not sure how I even got it but it's one of my oldest cards. It's absolutely useless. Just keeping for the age.
Make sure you put a charge on it occasionally (that you pay off before interest is do), otherwise they will close down the card which will likely hit your credit score.
Fortiva is pretty bad as well.
Can you do a review on the bjs master card
*INDIGO*
*MILESTONES*
*DESTINY*
*BLACK CARD*
*GOLD CARD*
*CREDIT ONE*
_WORSE CARDS ON THE MARKET_
I think some of those companies send junk mail to everyone. I saw Indigo, Total, and Milestone before and had to laugh at that crazy 29.99% interest rate + their fees.
What’s your opinion on the Citi Premier Card? They have an annual fee of $95..thoughts?
Well if you like to travel dine out , take in a rock concert or theatre show basicly any thing that comes up entertainment this is a good card.
do you travel on Jet Blue , American Airlines I believe the points are transferable I believe the points can be tranfered one to one basics ?
60,000 points without a fee I think .
or you can redem them for travel say you want to go to Florida, and you have 60,000 as an example you can redem the 1 cent per point depends what you want to do?
Good job man,!!
what do you think about the Bank of America Travel, Citi Thank you premiere and Chase Sapphire the basic Sapphire?
Good stuff!👍🏿👍🏿
I found out that my Mom has the first premier card. She is elderly, not sure how the hell she opened an account with them. Im trying to have that card canceled, as they are truly horrible with those fees!
Any credit is pretty easy to shut down if you have the right info and of the same gender. Have her SS number, date of birth and any password needed. They won't know the difference when you're calling to close it.
Every card from capital one is toilet water because capital one as a company is trash even for customers like me with excellent credit. I'm closing my card this month. Merrick bank also is garbage. Great video.
Capital one is not for people with "excellent credit". It is aimed at people with bad to mediocre credit. Do not close the accounts until you get replacements. Shutting down the lines will have a negative impact on your credit.
Good advice and I did replace it already with an excellent choice. Closing it this month.
Last week I did a product transfer to the Venture One card. I wish I saw this earlier. But it's better than what I had before 😭
The Venture One was the first one I got in years. It's helped me with my credit a little, but other than that hasn't done much for me. The Rewards are useless to me.
my Bass pro card and my williams sonoma card are now managed my capital one, so now when I log onto my capital one account I see all three cards. Is capital one getting into the store cards world in a big way?
I think they are, a couple of year ago they picked up Walmart from Synchrony bank
Thanks for this king
These cards are all for people with rotten credit
Not all of them, I made a point of talking about some that were not.
A lot of people don’t get approved for the worse credit cards
Not the Amex
Okay I admit it's not the worst but Verizon card. Only redeem rewards on Verizon, but some people are not able to get the card because the family plan isn't in their name. Example... wife is nurse or teacher so you opened Verizon line account in their name, but they're dumb with money so don't have a good credit score; you can't use your good credit to get the card to get the rewards, even if on a family plan. Even if you're an account manager. So yea that's annoying lol
Never thought of that!
I didn't know credit cards went above 28.99%. You taught me something by making me aware some companies charge above 30%. Is there a maximum interest that can be charged by credit cards companies to protect consumers from predatory lenders?
I believe 36% is the top.
@@jeromehenry4484 No they were never tapped at that level.
@@jeromehenry4484 "Generally, there is no federal law that limits the interest rate that a credit card company can charge. The law of the state where the card company has its headquarters generally determines the maximum interest rate the card issuer can charge"
@@jeromehenry4484 It tends to vary from state to state. You'd have to look each one up. How payday loan places get around it is they tend to be exempt to be on Native American based property. It's the same way they get away with casinos that would otherwise be illegal in a given state.
@@jeromehenry4484There is no federal limit on the interest rate a credit card company or a bank card issuer can charge. If you’ve ever looked at the return address on your statement, you may notice your credit card issuer is in South Dakota or Delaware. That’s because these are the states that have either weak or no usury laws, meaning there is no cap on how high interest rates can be.
I currently have the AMEX Plat but given the ridiculous increase in AF I am thinking about applying for the EveryDay card to transfer my MR points to. It would be sock drawer card for the foreseeable future just for this purpose. But with you questioning who this card is for it makes me think I'm missing something. Is there a better option for what I may do?
Not necessarily a better option, but in that case you are just using it as storage, not as a decent card for actually using.
@@ProudMoney Ok good. Just wondering if I was making a mistake here. I agree it's not a great card for use. In fact, I don't like applying for cards I won't actually use. But AMEX doesn't have a decent downgrade path.
You Forgot First Premiere Rip off and Indigo I kind disagree with you in Home Depot better much cheaper than Lows and lot discounts and rewards
Just depends on how you use it. HD can be good for high value purchases for interest free IF you pay it off before whatever the period is. It can be anywhere from 6 months to 2 years. HOWEVER, if it's not paid off you get hit will all the accrued interest from day one. You have to read the fine print.
An Excellent video 👍
I love to hate on Indigo.
Macys I feel I pay the balance and they still send me a a couple dollars balance
Wow
Love the video
As underwhelming the rewards are, the Apple Card seems a WHOLE LOT better when you see all these cards that charges their MOUNTAIN of fees
As for cards I hate, Mission Lane, PLEASE STOP sending me pre-approved card letters!
You leave out credit one the worst of them all
Credit One is often bad, but there are even worse.
Macy’s credit card🤮
Why
first premier....been there and done that
Hi Adam I have a 712 credit score but like 25 hard inquiries and I have applied for credit cards but I get denied what can I do? Thank you for your answer I really appreciate it.
Do you have cards already or just all those inquiries?
I have 8 credit cards and the reason I have a lot of inquiries is because I bought a car 2 weeks ago and the dealership run my credit like 25 times and I applied a couple days ago for the capital one student journey credit card and also I applied for the Bank of America rewards card and I got denied for both cards even though I have good credit, what can I do, thank you very much for answering me Adam I really appreciate it, I love your videos they are always very informative I have learned a lot from your videos thank you very much Adam.
Eventually those car inquiries should get bunched together and not show up as separate inquiries. wait a month and check your report if you can. Though with 8 cards and a new car loan you might just need to chill on new credit for a while, like maybe 6 months.
Thank you very much Adam I am going to wait 6 months to apply for more credit cards, I want to have like 21+ credit cards in the future I love credit cards a lot, thank you very much for all your help Adam I always watch your videos after I come home from work I Learned a lot from your videos, you know a lot about credit, thank you very much Adam and have a very beautiful day, thank you very much.
You don't need 8 cards anyway unless you're living off of debt. lay off, you have plenty and don't worry about it. Having too many cards is exactly how a lot of people get themselves in trouble.
How much do finance TH-camrs make???
as a general rule, take the number of subscribers, divide it by 10, and that's how much a channel makes in a year in dollars. there's always channels that do better or worse than that, i mean on average, and assuming they aren't selling things or doing affiliate stuff, just from youtube ads. so from youtube ads alone this channel should be making 5k a year. not terrible, but he's not making a living from this channel.
Open sky for me.
👍🏽
Mission lane
They aren't the worst by any stretch. They at least have a 1.5% no AF card in their lineup. Not great but not terrible either.
I have the ML Visa in my lineup of cards. No AF but no rewards. I just wanted to add a Visa CC to my lineup. I’ve had the card since December and used it just once to pay my water bill. It’s been sitting in my credit card dra 11:30 wer since. Plus it’s not on Apple Pay and I only carry around 1 credit card (my Discover) and my debit card via Apple Pay.
Naw Mission Lane aight.
Mission Lane is actually decent imo. I got a no annual/monthly/starting fees card that gives me 1% or 1.5%, can't remember as I have gotten better cards since then and am just keeping the card open because its an older account.
Credit One is also really bad…