This video is aimed at people who are relatively new and inexperienced in the credit card game. With the purpose of protecting them from extra fees or paying interest, damaging their credit score. Some people who are more experienced, may disagree with some of the points in this video.

@robinswidron

6 жыл бұрын

does buying alcohol in a club negatively affect your credit score ?

@TheCreditShifu

6 жыл бұрын

I think you'll be fine. You might feel some negative effects the next morning though...

@submariner103182

6 жыл бұрын

If you are planning on paying your credit card bill in full each month and as long as you aren't charged any fees (for utility bills for example), can most of these rules be disregarded since the interest would be avoided?

@MannyTwice

6 жыл бұрын

The Credit Shifu I definitely needed this

@matthewscott4424

6 жыл бұрын

fortwintee1 ,,8053287921

5. Utility Bills, Rent and Taxes 4. Recurring Payments 3. Other Loans 2. Cheaply Finance-able Items 1. Impulse Buys

@sakhawatkhan8916

7 жыл бұрын

Charlie fvsddss😉🙃🤑🙂🤗☺️🙄😍👄

@Iyellatbabies

6 жыл бұрын

Thanks too lazy to watch it all

@carlosmendez3638

6 жыл бұрын

Thanks

@kdbfi1989

6 жыл бұрын

Charlie thanks man

@RichardShares

6 жыл бұрын

thank you!

Ohhhh sh*t. The collaboration the credit community been waiting for.

@epiksar

7 жыл бұрын

Glockmada now we just need to rope in beatthebush in here and they'd be an unstoppable trio

@jonesbunny

7 жыл бұрын

epiksar heck yeah!!!

@JosephAng

6 жыл бұрын

Ahahaha let's make it happen

@victormtz16

3 жыл бұрын

After COVID reunión 😳

Sebby looks like he is being held hostage. Great video though.

@naturalQueeP

5 жыл бұрын

CD Don he looks super uncomfortable.

@briandelaney9710

5 жыл бұрын

Gay panic ;)

I think you should rename this to "what not to buy on credit for beginners". I put my gym membership, Netflix, internet bill, and etc. I still manage to stay under 30 percent. I have to pay those anyways so it's nice to get rewards in return.

I understand your point about the recurring payments, but I would have to generally disagree. Recurring payments for things like gym memberships, subscriptions, etc. are one of the things for which I think credit cards are perfect. Gym memberships and other such things are notorious for seemingly unscrupulous billing practices, should you ever decide to cancel whatever service it is. You can read horror story after horror story of people cancelling things only to continue to be charged for them, and this is something that is much easier to resolve with a credit card than say if they had access to a checking account.

@2awesome292

5 жыл бұрын

It's very easy to swap checking accounts?

@hannah60000

5 жыл бұрын

That's because they should contact it from their bank's side. Direct Debits are done with your permission given to your bank. It's all about being vigilant and aware. I'm a hawk when it comes to my money and watching my accounts. More of us should be, I believe!

@dugroz

5 жыл бұрын

Agree. As long as it's a carefully thought out decision, and there is no fee, why not put your recurring payment on a card and get those rewards, even if it's only 1%?

Awesome video. The two people that helped me get my credit score above 750. You guys rock!

Ignore this video. Use your credit card for everything you can afford. Pay it full every month and enjoy the points

@alexf9183

6 жыл бұрын

Polkadot, amen

@MegaBallPowerBall

6 жыл бұрын

Polkadot Cash advances don’t earn points.

@AdventuresofAwesomeJoe

6 жыл бұрын

Thank you

@marcdog23

6 жыл бұрын

Bad advice

@javaguy418

6 жыл бұрын

Polkadot Yeah, you'll love paying the surcharge that almost every utility company charges you to use your credit card to pay your bill.

Awesome!! Holy crap, Seb is in NYC/NJ!!! The two Gurus of credit cards! So amazing, never thought I'd see this!

I think recurring payment is actually great to put on a card if there's no fee. Those are expenses you have to pay anyway, so you might as well get whatever points you'll get from it. Average phone bill is about 55 so in a year 660 points on a 1% or 990 on a 1.5%.

@TheCreditShifu

7 жыл бұрын

It is good if you have access to a larger credit line, so there is no risk of pushing you over your credit limit or pushing your utilization too high. We just don't recommend it for beginners

@shawnthompson9873

6 жыл бұрын

I just signed up for my first credit card so I’m a total noob here but what are points in this context?

@HDmvp41

6 жыл бұрын

Shawn Thompson he probably is referring to cash back or rewards points some cards offer

I agree with most of the reasons you explained but the only times I would use the credit card is like "extreme" situations where you have no access to funds to protect your livelihood. Credit cards got me out of a lot of bad situations. And the other time, which was mentioned, is if you're going to use the credit for a guaranteed cash return or investment.

0:19 Utility bills, rent and taxes 1:36 3:13 4:19 6:12 Impulse buys

6. Your wife

@Jesus-kt5dc

5 жыл бұрын

*7. YOUR KIDS*

@sijiarenas7638

5 жыл бұрын

Vinny Ocean Savage

@kashfortheking

4 жыл бұрын

🎶She’s a man eater🎶😂😂😂

Two great guys! Thanks for the information as always. 😃

@Farhad_ZKD

6 жыл бұрын

Become a Discover Cardmember and you'll get $50 Cashback Bonus with your 1st purchase within 3 months. refer.discover.com/s/igbdk

@mrmakeadeal2415

6 жыл бұрын

Two lame guys! Thanks for the information as always. :)

great to you guys working together....i have learned a great deal from both

Why am I just seeing this video! Love what u both do for the credit card community. I look forward to both of your videos! :)

This is awesome. Glad you guys hooked up to make a video. I follow you both and love your work. Great stuff guys!

One critical piece of information regarding interest free loans for x months (which are commonly offered in furniture stores): the interest is charged RETROACTIVELY for the entire amount if it's not entirely paid off, even if you paid of 99% of the balance. Very dangerous. Save up and pay cash!

@TheCreditShifu

7 жыл бұрын

Good advice

@stevenmiller7747

7 жыл бұрын

Ramy Majouji if you can't trust yourself or are not responsible enough to take advantage of a great no interest type deal for a certain number of months then you also shouldn't have credit cards period. It's the exact same concept. Anybody with credit cards should be paying them off in full every month, no different then the special financing offers, they just give you more time.

@jumpman366

7 жыл бұрын

Ramy Majouji um how about paying it off then....

@jumpman366

7 жыл бұрын

Steven Miller ya know? These people act like such babies where the f is the accountability? PAY THE DAMN BALANCE!

@stevenmiller7747

7 жыл бұрын

Yo Yo because if I can make a BIG purchase with 0 percent financing and I'm responsible enough to be in a position where it's not going to hurt my credit utilization then I would be an idiot to "just pay it off" if I can use the money to make even 1% somewhere else. It's simple economics. I'm using their financing to make ME money. And once again, if someone doesn't trust themselves enough to pay it off in full in the specified period of time or they aren't responsible enough to do it, then they shouldn't have credit cards in the first place.

In Canada at least it's illegal to charge more for those who pay with CC.

Great videos and very informative. Even those of us that live a minimalist lifestyle can see the benefits of having good credit. My rent, car insurance, and recent new job all involved my credit score and was a determining factor!

Good to see the collab.

This was amazing i enjoyed the team up.... if tech youtubers can do it so can yall keep it coming!

You have helped me tremendously with your videos. Thanks bro

Curious to how these rules apply to a secure credit card. BTW you two are the channels I look at. Glad to see the collaboration.

Love This dynamic, great collab!

Awesome Collaboration guys two of my favorite KZread channels together !!! Awesome Ben & Sebby !!!

It's great to see you both together on one video!

This was very informative, i was thinking of go out and pay everything with the credit card to take advantage of the cash back because i do have the money to pay it off but i wasn't aware that some purchases charge you interest so this video literally saved my life... 👀 thank you guys !

nice to see you two guys working together you should go on his channel as well. Keep up the great work guys

I have heard you can charge the settings on EZ pass so it doesn't fluctuate that way.

Thank you since I been viewing your guys videos my score went from a low if 550 to a high of 725 from a secured credit card.

Thanks guys for your Knowledge and time,Awesome

Would you consider wireless/phone provider utility? Amex HH Business offers (i think) 6X points for wireless purchases so we put our T-mobile and verizon service bills on it.

Thanks for the collaboration guys. What I love about this is the personal stories (The Credit Shifu made impulse buys 😵) and that both The Credit Shifu and Ask Sebby are giving advice from their perspectives and for their followers: The Credit Shifu to help establish Credit and avoid the pitfalls of credit card abuse, and Ask Sebby with maximizing spend and perks. Perhaps in the future, consider mentioning that these tips are for specifically for those subtype of people as otherwise those new to your channels would be confused. Keep up the good work gentlemen.

Does this apply to me? I have a charge card (Amex Gold).

I pay everything with my credit card. Utility bills, mortgage (yes my company allows this), groceries, gas, insurance, whatever I can. I also pay it off at the end of each month so I don't pay them interest, I keep my money in my account earning interest for me.

@kevmart7579

4 жыл бұрын

Which mortgage company is it, very curious?

I was able to repair my bad credit card and also boost my credit scores in 2 weeks

i love both your channels but i definitely put some phone bills and stuff like that on my cards, especially when im in the first 15 months of no APR, or on my platinum card which i pay every month.

Both mine and my dad's utility companies don't charge a fee to use a personal card, I'm getting a vantage west connect rewards visa, and it lets you pick a 5% category from a list of choices. I'm getting one and picking utilities

You guys rock. Thank you!

does this apply to Middle East countries too? like Saudi arabia & Qatar?

This thumbnail was a little misleading. Buying a car with a credit card would be great. I tried to pay for one with a credit card because $50,000 is a lot of reward miles and I had the cash to pay for the car anyway. Unfortunately, the dealership would only put 5k on the card because of transaction fees cutting into their profit. Better than nothing though.

@UnknownUnknown-tu3be

6 жыл бұрын

Booom, likewise I got 5k.......my cousin put her whole rogue on the credit card 😮😮

Thanks for all the wealth of information fellas

I know Im way late on posting on this old video but you two are my credit card people didn't know you have a collabo until today.

As part of a credit repair strategy, I pay for things with my credit card that would not be debt, such as bills I normally paid with my debit card in the past, and pay it all off on the statement date. I still keep it under 30% utilization and my utility company does not charge a fee. This way, I am using my credit card, not incurring debt, not paying interest and improving my credit score month by month. I never ever set up anything auto-pay to the credit card.

1. Utility bills and rent 2. Recurring payments, monthly charges 3. Other loans, car and mortgages 4. Cheaply "financeable" items, laptops, TV's, etc. 5. Impulse buying.

the two greatest credit card maximizer

@askhowiknow5527

7 жыл бұрын

Pizon Shetu Learn English

@itsxjustin1

7 жыл бұрын

Lewis Johnson Fuck off grammar police

@mouneac

7 жыл бұрын

Idk, BeatTheBush is great as well

@andreamerino9146

6 жыл бұрын

Ceddy Wap you mean BeatTheMeat.....

@Freerydah73

6 жыл бұрын

“Beat the Bush” trumps these guys when in comes to credit card utilization most especially the white dude on this video.

I’m new to credit cards, I’ve been watching your videos for a couple of days now and this video just really messed up my view on credit cards. I’ve been using my debit card without a problem but I want to get advantage of those credit card bonuses. What can I use my credit card for?

Glad you guys are working together!

U get 5x for most utility bills and phone bills, internet bills with old ink preferred which i still have. Definitely use it

What about charging my car insurance to my credit card?

Um so what can we buy with it then? you guys are confusing your followers..... personally, I buy whatever, stay under 30%, and pay the balance off within hours.. 😉

@valisapps1254

6 жыл бұрын

Truth-Seeker so you pay off even when the transaction is pending on your credit card ?

@2awesome292

5 жыл бұрын

Stay below 10% it helps a little

@jenny01317

5 жыл бұрын

@Willie Morgan good to know, stop spamming

This video and the other one is what I needed

Great information! Thank you

these are ALL the things i use my credit card for... plus gas and groceries lol. i use my cc for everything except i pay it back in full every month.

The information was pretty basic but it was worth the watch just to see these two together

I think I can speak on a lot of people who follow these types of videos that THIS is the moment we've been waiting for

So is it a good idea to save your card accounts for automatic payment? The 3% fee was mentioned earlier in the video.

does this apply if you are trying to build credit. Im a college student and is always made sense to me to just pay my rent/utilities with a credit, and everything else with a debt in order to avoid impulse buying, or improper budgeting

My impulse buy 3 months ago: A BMW X7. I tried to charge it to the Amex platinum. The dealer said they could only charge 1k. So 1k rewards points for a $100,000K purchase.

Would it benefit me to pay the complete balance at once? On my Credit card ?

Putting recurring payments can be beneficial. American Express notified me when my cable bill went up. Because the recurring payment amount had been consistent, American Express noticed an "unusual activity" when the cable company jacked up the price and notified me. I called the cable company immediately and renegotiated my deal.

Love both of you guys!

Off topic but the lighting is really pretty

It's good to hear that even you guys make credit related mistakes.

Man what I would pay to take a class if you guys taught that class lol

I think for utility bills, if you have the chase freedom unlimited and the reserve you can effectively calculate your net reward points after the fees

I use my credit card for subscriptions and recurring bills that don't have processing fees because it consolidates the various due dates into one easily managed transaction. It also helps with keeping my checking account statements nice and clean so that oddball transactions (including fraud) are easier to detect.

Crazy question, is automatic payments from card still charged fees?

Can you transfer points from Chase Ink Business Preferred (CIBP) to Chase Sapphire Preferred for the high conversion rate to airlines? If so, would you recommend product changing from the CIBP to the Chase Business Ink Cash after getting the sign up bonus?

Can you do a.video or answer the question of the best way to rent a Tesla?

I have reoccurring payment on my credit card sunpass 25 bucks i pay it off every month and that helps me build my credit

How about budget airlines like Ryan Air and Air Asia? They charge fees too.

Can you transfer in store finance onto a balance transfer card without the actual store card?

Great video what was your first credit card

So, buying new tires for a car I am using for work?

The both of u are my credit guru’s, love u both like Sunday dinner 😘

Shifu vs Sebby....call your local cable providers...PPV of the century!!!

@VijayPatel-kj1ch

6 жыл бұрын

Sure...ppv

What about an iPad for college? What if you buy half of it in cash n then the last hundred or so on your credit card? Is that better then putting it all on credit?

Good job, guys

I'm a little confused they say not to use them for requiring payments like your phone bill. Can someone explain how this won't work if your phone bill is the same each month? I am looking to get my first CC (Discover secured) and I was thinking of paying my phone bill with the CC as its the easiest way to keep a low utilization(15%) and spend every month. Alternatively, I could just reload amazon with 12 bucks monthly and pay for Netflix for an even lower utilization (6%). I know that would hurt the cash back but this is for credit purposes mainly.

What if you use your credit card like a checking account, putting all of your income each paycheck?

I personally pay everything with my CC for the past 4 years lol but i pay it off every week. I just wanna build my credit score so yeah.

What if my recurring pmt is my cell phone bill and I use the chase freedom unlimited to earn 1.5%? There is no transaction fee as well. Is this OK?

Wait... Are these guys assuming that people are revolving their credit card balances??? Literally the only thing that shouldn't go on your credit card is anything that will charge a service fee. Everything else should. Because you should be paying it off each month.

@AdventuresofAwesomeJoe

6 жыл бұрын

Cazmeus thank you

YEAH! This is going to be awesome!

I live in Denmark and we do not have a credit card culture really.. There is not a lot of options here, and most bank issued cards are shit wirh almost no benefits at all.. Is there any videos out there, or can you make a video with advice for people like me, who lives in a country where "credit cards are not a thing"

I love yoyr channel I learn a lot. But for example Utility Bills in Mexico don't charge a fee for using a credit card.

Are recurring payments like a Spotify Premium subscription for 10 bucks a month good for credit cards? I mean, they have a fixed value and a fixed date so you know the details exactly.

I disagree with the Ez pass or phone bill not being paid via C/C as i have a credit card designate for each: have done it for a couple of years and voila my credit score is currently 811!

In regards to that recurring payments, does that include subscriptions like Netflix, HBO, Amazon etc? Because I use a credit card for those but I've always paid it off full. I could easily just pay from my checking but I figured if I can afford it already then why not build my credit while I'm at it and just pay it off as soon as I get my statements. idk just asking

Apples payment plan is a Barclays credit card with Apple rewards. They offer 18 months 0% on purchases over $999 I believe. I bought an iMac on one and it's fine. Worst part was it having a high balance for a while but I paid that down quickly and ended up with some extra Apple gift cards pretty fast. Didn't cost me anything over the purchase cost.

How could i ise my 200$ secured credit card? Btw its my first time having a credit card. Thank you!

I love both of your channels

You two should do more collabs via KZread Live in the future

What a team up! Time for another epic one

I need a new laptop for my internship but I can’t afford it. I can afford $100 a month and if Best Buy Credit Card cara offers me no interest for 16 months and I can’t pay it off before the 16 months, should I do it? I haven’t had a computer for s month and it’s very inconvenient.

You can put reoccurring bills such as cable, cell, satellite TV on a AMEX charge card and there are no added fees. Actually you get a discount from the companies with auto pay, plus your paying off AMEX every month anyways.

So what bills should I pay with my credit card

Do you manufactured spend for your sign up bonuses