Author: Son Dakika Haberler

Question people wonder What Is The Easiest Credit Card To Get With Bad Credit?

Today we’ll talk about guaranteed approval credit cards with high limits for people with

bad credit.

To get right to it, guaranteed approval credit cards with high limits for bad credit don’t

really exist.

A secured credit card that allows you to place a very sizable deposit is the closest thing

you’ll find.

There are a couple of important reasons why guaranteed approval credit cards with high

limits for bad credit are not available.

For starters, no credit card offers 100% guaranteed approval.

There’s always some sort of minimum eligibility requirement that you must meet.

That’s even true with secured credit cards.

Plus, credit cards for people with bad credit tend to have spending limits that are far

below $10,000.

Most unsecured cards for bad credit give you a starting limit of around $300, and fees

eat into a lot of that early on.

So if you have bad credit, you’re not going to find a credit card capable of financing

a really big purchase.

At the end of the day, getting a credit card with a specific spending limit should not

be your top priority when you have bad credit.

You’re definitely not going to be able to get an unsecured card with a high limit until

you have good credit.

So rebuilding your credit as inexpensively as possible is the best approach in the long

run.

Above all else, that means getting approved for a credit card with a low annual fee as

quickly as possible and paying your bill on time every month.

In other words, a secured credit card is probably your best option.

They’re easier to get approved for than unsecured cards, and secured cards charge

lower fees than unsecured cards for bad credit.

Now that you know the do’s and don’ts of finding the right card, you can compare

both secured and unsecured credit cards for people with bad credit to get the best offer

for your needs.

To see WalletHub’s editors’ latest picks for the best cards, just click the button

here.

Question people wonder what is the amount of money you still owe to their credit card company called?

so I don’t know about you guys but if you ever noticed that when you check to

pay the minimum balance on your credit card that the credit card companies just

make you feel like it’s something that’s okay to be paying well it’s not okay to

be paying and that’s why I’m making this video because I want to go over all the

cons about paying the minimum balance on your credit card because honestly

there’s a few big ones three specifically that I want to cover

because it’s not a good idea to be paying the minimum balance unless you

absolutely have no other choice now before I get into everything I do want

to preface that if you have no other choice with your credit card company but

to pay the minimum payment then definitely do that because you are not

going to have any late fees and it’s not going to be reported on your credit as a

late payment so definitely make sure that you are at least making that

minimum payment if you’re in a pickle because then you’re not going to have

any real consequences other than interest and a couple other problems

that I’m going to be talking about in this video and if you just happen to

find this channel I’m Jason with honest finance and I make a lot of videos on

different topics that will give your life and your finances more value so if

you do have an interest in this particular type of content feel free to

subscribe or just give this video a big thumbs up but now let’s start talking

about the three big cons with making your minimum payments on your credit

cards so the first big problem with paying the minimum balance on your

credit cards is the obvious fact that you are going to be accruing interest

because you’re making the minimum payment because basically how it works

is you’re gonna have a statement balance that’s due every single month and if you

don’t make that statement balance paid off in full by the due date then you are

gonna accrue interest so obviously paying the minimum payment this is the

smallest amount possible it’s never gonna be the amount that you need to pay

off that statement balance so you are gonna be accruing interest but that’s

usually just a given and when I say that it’s just a given what I’m referring to

is the fact that most of us understand that you are gonna be paying interest

when you’re making those minimum payments but I don’t think a lot of us

understand how the interest is actually accruing now I’m not gonna go into this

and huge depth here but it is called a DB which means it’s average daily

balance and that’s the method that the credit cards are using and I’ll just

briefly explain how that works here okay so the easiest way that I can explain

how the average daily balance method works is just think of your billing

cycle as an entire average here so if you’ve got 30 days in your cycle

and you started your balance off with $0 and then you ended up at $1,200 then

what the credit card company is gonna do is they’re gonna take your balance every

single day during that entire cycle and then they’re gonna take an average and

then they’re gonna be able to apply their interest rate on to that average

and that is how they charge you the interest it’s just as simple as that

it’s just an average of the entire cycle but that’s the way that it works now if

you do happen to be paying interest on your credit cards there is something

that you can do to save a little bit of money on interest and that’s just the

fact that if you are going to be making big purchases do those towards the end

of the cycle because then your average is going to be lower because if you were

gonna buy a $2,000 fridge at the beginning of the cycle that’s gonna bump

up your average throughout the entire cycle so buy that at the end and that

will save you money on interest and then another thing you can do is if you have

money to pay off your card pay that off as often as you can during the cycle to

get your average down a little bit lower because the more you can put towards the

credit card the lower that average is going to be and that’s gonna save you on

interest so do that as far as those tips go if you are paying interest obviously

it’s a lot better to pay no interest but there are some of us out there that are

paying interest so if you are use those tips and you can save some money now the

next problem with making the stupid minimum payments and your credit cards

is just the fact that a lot of the credit card companies are only going to

be making you pay at least one percent of your balance plus the interest and

that’s it so a lot of the time it’s really easy to be making that minimum

payment but the problem is is that you’re never gonna get out of owning

them money because for instance if you had a $1,300 balance you might only oh

like 20 to 30 bucks as a minimum payment but it’s gonna take you over ten years

just to pay that off and you’re gonna be wasting all that money in interest so

they make you feel like it’s super easy to make that minimum payment but it’s

something you really don’t ever want to be doing so if you have been making

minimum payments just be aware that it’s going to take you forever to pay off

your credit card balance if you’re making that minimum payment plus the

other problem is you’re probably still making charges on your credit card so

stop making charges and pay anything more than you

can towards the minimum so for instance if you owe 50 bucks as a minimum just

try paying 75 something better than what the minimum is so that you can start to

climb out of the hole that you’re in now the third problem with paying your

minimum balance or just not paying off the statement balance in full is the

fact that you are gonna lose your grace period now what the grace period is is

it’s just the gap between when your cycle ends and when the due date happens

so usually it’s like 25 days after the cycle ends and that’s when your due date

that’s the grace period you don’t actually have to pay any interest on

purchases that you make during the grace period if you’re not accruing interest

meaning you’re paying off your statement balance every month but if you’re paying

your minimum balance obviously you are losing your grace period so just keep

that in mind you are paying interest on everything now obviously when I’m

talking about the grace period the due date the billing cycle all that kind of

stuff it is a little bit complicated when it comes to credit cards and

understanding how they work so I will leave a playlist up here that you guys

can watch these have some more in-depth videos on those specific topics so if

you guys want to learn more about the grace period or how credit card interest

works and stuff like that those videos will explain that but I’m just trying to

briefly explain why you don’t want to be paying your minimum balance but if you

need some more help those videos are here for you guys now in order to stop

paying interest on your credit cards basically the only way that you’re going

to be able to do that is to pay off that statement balance in full by the due

date now once you do that a lot of credit card companies actually require

you to do that two times in a row so for two months in a row you’re gonna have to

pay off that statement balance in full in order to get your grace period back

and to not pay interest on any purchases that is the only way that you’re not

going to be paying interest on your credit card is to once again pay off

that statement balance in full by the due date and then you are good to go and

you don’t have to worry about a thing now obviously every credit card issuer

has different rules so you are gonna want to check the fine print on how to

exactly get out of paying interest but generally what I found is that you got

to pay the two months in a row of your statement balance now your statement

balance for instance if it’s a thousand dollars you have to pay that full

thousand dollars off by the due date you can’t just pay 999 dollars

the due date otherwise that $1 that you owe is gonna cause the entire ripple

effect of paying interest on your grace period and your past purchases so just

don’t open up that can pay off that statement balance completely in full and

that’s all you have to worry about so at the end of the day if the credit card

company makes you feel like it’s okay to be making those minimum payments just

understand that it is something you don’t want to be doing unless you

absolutely have to because you are gonna be paying interest on it you’re never

gonna get out if you make those minimum payments and you’re losing your grace

period so don’t pay interest unless you absolutely have to now once again if you

just found this channel I’m Jason with honest finance and I make a lot of

videos on different topics that’ll give your life and your finances more value

so if you did get some value out of this video feel free to subscribe but for now

I am gonna leave a few more credit card videos that you guys can watch over here

but thank you for your time have a great day

Question people wonder why is my credit score low after getting a credit card. Answer in our article

Sierra Baldwin: Your credit score can be something that makes things either very easy or very

difficult for you. That’s why so many people try to study up on how their credit score

is calculated and how the money moves they make could affect their score.

I’m Sierra Baldwin and in this video from The Ascent’s Money Lab, we’ll take a look

at exactly what happens, the important factors in your credit score when you apply for a

new credit card. Does opening a new credit card hurt your credit

score? If you’ve done some homework on credit scores, then you know one of the FICO score

factors is new credit, which accounts for 10% of your score. Another 15% comes from

length of credit history, including the age of your newest account. So together, opening

a new credit card would have a negative effect on factors that account for 25% of your FICO score.

Let’s walk through the process of getting

a new credit card to illustrate how this all works. The first step a bank takes when you

apply for a new credit card is to make a hard credit inquiry, which means it takes a look

at your credit report. A hard inquiry will negatively affect the new credit factor of

your FICO score, but the impact will be small if only have one or two credit inquiries on

your report within the past 12 months. After all, it’s okay to apply for a couple of credit

cards per year, but if you’re applying for dozens of them, lenders may think you’re

irresponsible, desperate for credit or both. If the bank approves your credit card application,

you’ll see the account show up the next time you check your credit report. This also negatively

impacts the new credit factor. FICO will ding your score based on how long it’s been since

you opened a new account and how many new accounts you have.

Side note: FICO is unclear on what it considers a new account.

On top of all that, a new credit card will negatively impact the length of credit history

factor of your credit score. Your length of credit history considers the age of your oldest

account, the age of your newest account and the average age of all accounts. The older,

the better. Opening a new card will reduce the age of your lowest account and your average

account age, thereby lowering your credit score. But this misses the big picture.

Based on all that, you might think opening a new credit card is a bad idea. The important

thing to remember is that the two most important factors in your credit score are your payment

history and your credit utilization ratio or the percentage of your available credit

that you’re currently using. Combined they account for 65% of your credit score.

And a new credit card could help improve your credit utilization, which accounts for 30%

of your FICO score. Applying for a new credit card shouldn’t have any impact on your payment

history, because you should be making your payments on-time and in-full every month.

On the other hand, a new card could have a major positive impact on your credit utilization ratio.

This ratio is simply your total outstanding credit card debt divided by your total available credit.

The lower the ratio, the better. As an example, let’s say you only have one

credit card with a limit of $10,000 and a balance of $2,000, your credit utilization

ratio is 20%. But if you apply for a new card and get approved for an additional $10,000

credit line, your credit utilization ratio will drop to 10%. In other words, assuming

your spending habits don’t change, you’ll cut your credit utilization in half

and that can more than offset the negative impact of a hard credit inquiry and a decline in your

length of credit history. The final factor in determining your credit

score is credit mix, which accounts for 10% of your score. If you already have a credit card,

applying for a new credit card shouldn’t have an impact on this factor. If you don’t

already have a credit card, then a new credit card account on your report will have a positive

impact on this factor, further offsetting the negative effects of opening a new account.

Good habits lead to good credit. It can be easy to nitpick and get lost in

all the details of how your credit score is calculated, but here’s the important thing

to remember. FICO rewards responsible credit usage. Yes, applying for a new credit card

could temporarily ding your credit score, but in the long-run it should provide a boost

as long as you use your new credit responsibly. That means, making your payments on time and

staying well below your credit limits. As long as you’re diligent in those two areas,

then getting a new credit card won’t damage your credit score, in fact, it could even

improve your credit score. If you’re thinking of opening a new credit card,

check out our list of the best credit cards on the market at fool.com/creditcards.

The link is in the video description. And if you have your own tips or questions on

getting a credit card or boosting your credit score, leave them in the comments below.

And finally, if you haven’t already, do us a favor and like this video and hit the subscribe button,

that will help us keep making these videos and sharing our best money advice with you.

Thanks for watching and we’ll see you next time on The Ascent’s Money Lab.

Question people wonder how to destroy chase sapphire card.

Today we’ll talk about how to destroy your metal credit card.

The short answer is: You should not attempt to destroy metal credit cards.

If you request a replacement card or decide to close your account, the credit card company

will likely send you a slip to return your old metal card when it mails you a new one.

Or, they’ll just ask you to mail the old metal card to a particular address.

Then the issuer will dispose of the card safely.

Specific procedures vary by credit card company.

So you should call your card’s customer service department to see how it recommends

dealing with an unused metal credit card.

What you don’t want to do is take a knife to a metal credit card or try to put such

a card through a shredder.

That’s a recipe for a broken tool and perhaps a trip to the hospital.

With that in mind, the bottom line is: Let credit card companies destroy metal credit

cards so you don’t have to.

If you’re in the market for a new metal credit card, you should start with our editors’

picks for the best ones.

To see which one is right for you, just click the button here.

Question people wonder how to upgrade chase sapphire preferred to reserve today we’re talking about when you should upgrade the Chase Sapphire Preferred to the chase Fi reserve

Ok so let’s go ahead and get started with the Chase Sapphire

Preferred when you should do the upgrade and now this is not a hard and fast rule

so there are certain things that you might have that you might have different

circumstances so I’m just going to talk about in my situation when I would

consider upgrading. I do have the Chase Sapphire reserve right now and I also

have the Chase Sapphire Preferred because I had the Chase Sapphire

Preferred prior to the Chase Sapphire reserve launch and when they launched to

chase a fire reserve I jumped on it so I still have both cards I usually taste

Sapphire Preferred right now as referrals I mean I get so many referrals

on that card so that’s the reason why I’m keeping that card

Now when you’re looking at the cards the first thing that you want to think about the first

thing that I would think about in situation is how much do I eat out and

in my situation I eat out a lot so I will eat out when I’m going to work at

least once a day I’m going I’m getting a meal so that’s at least $10 every meal

every day all right a Monday through Friday and then on the weekends it

depends on the situation but I do eat out more than most people

so I can benefit from from getting that Chase Sapphire Reserve so I can earn

more points with the taste Fi Reserve because I’m giving 3 points every dollar

spent at restaurants whereas with the Chase Sapphire Preferred you’re only

getting 2 points every dollar spent so that’s the first thing I would look at

The next thing we want to look at is lounge access so a lot of us in prior to

getting the Chase Sapphire reserve I didn’t really know anything about

lounges I’d never stayed in the lounge or anything like that

but now I swear by them anytime I go to the airport I’m always using the lounge

because for one they have free water free sodas free alcohol free snacks so

you have a place to go that’s quiet you also get free Wi-Fi too which is

nice that’s quiet and you you can kind of get away from everyone and then you

have these free things that you don’t have to pay for and I used to go to the

gift shops all the time and get water and get things like that for the plane

well now I have access to these same things and a lounge so it just makes

that whole travel experience a lot better so I I recommend people at least

go into a lounge to kind of see how it is some some other cards will give you

maybe a couple of passes a couple of free lounge passes or you can also get

on eBay and you can get like the United Club passes.

Now the United Club is not it’s not the nicest lounge that you’re gonna be in but it will kind of give you

an idea of how things work in and how you can really benefit from a lounge by

getting some of these different things that you would normally buy when you’re

at the airport so you have to look at that so is this a benefit that’s

something that’s that that I that I’m good with or is this something that

really not worth it to me a lot of people bring their food so they’ll bring

food to the airport which you can do you can’t bring liquids but you can bring

food snacks and things like that so if you prepare ahead you can do that and

you don’t need a lounge but it’s something to think about that would also

kind of steer me to ok the Chase Sapphire Reserve is good because of this

something else I want to talk about is Global Entry so if you’re not if you’re

not familiar with Global Entry global issue will allow you to kind of get in

front of everyone online so you’ll have a separate line that you go to and you

don’t have to do a lot of things like you would normally have to do at the

airport take off your shoes take your computer out of the bag and all that

kind of stuff you you’re able to skip all that because you have if you have

Global Entry you also have TSA PreCheck now the way that Global Entry is

different than TSA PreCheck is when I’m entering re-entering the country so

let’s say I go out to Mexico then I’m on my way back when I’m on my way back in I

go through a separate line again I go through a kiosk and I don’t have to go

through the the normal customs process so all I do is go to the kiosk put the

information and put my passport on there put my fingerprints on there and then

I’m able to just go right through though they’ll it’ll print out his ticket for

me and I take that ticket to the customs agent and then I’m on my way so it’s a

lot faster process it does a little bit more to get that but they

give you this hundred dollar credit with the taste fi reserved but you do have to

you have to go for an interview sit down with the interview talk with the customs

agent just kind of explain your travel history and all that kind of stuff and so they do do a little bit of background I say they know your trusted traveler

that’s what that’s what that means so another thing to think about if you

want to get the Chase Sapphire reserve you get that you’re gonna get that

hundred dollar credit there now one thing that I didn’t mention that I think

I should mention is the difference between the two cars as far as the

annual fee so the annual fee for the Chase Sapphire Preferred is $95 the

annual fee for the Chase Sapphire reserve is $450 and so you can see right

there that’s a big difference and that might sway you one way or the other but

with the Chase Sapphire reserve you are going to get a $300 travel credit and

that brings me to the next portion of the next thing you need to think about

how much do you travel so if you don’t travel enough let’s say one or two times

a year Chase Sapphire Preferred is probably going to be a better fit for

you if you do travel three four or more times per year then you might want to

consider getting that TFI reserve because you can get all those benefits

that I was talking about the Global Entry really makes sense at that point

the the lounge access really makes sense and plus the three hundred dollar travel

credit you’ll have no problem using that travel credit if you travel a lot

so those are other things that you need to think about and the last thing I want to

talk about too and this can be a strategy if you don’t plan on traveling

right this minute let’s say you’re you know you want to travel in a year or two

years the sign up bonus for the Chase Sapphire Preferred right now is sixty

thousand the signup bonus for the Chase Sapphire Reserve is is fifty thousand so

you’ll get an extra ten thousand if you sign up for the Chase Sapphire Preferred

and then upgrades but you have to wait a year you can’t upgrade prior to that

year so you’re gonna have to wait that time and then at the end so when you’re

when you’re ready to pay your annual fee again you can call up chase and listen

oh hey am I eligible to upgrade this card and then they’ll go ahead and work

their magic and get you the card the Chase Sapphire reserve now you do need

to have a credit limit with the chase after I reserve the credit limit needs

to be ten thousand so if you have the Chase Sapphire Preferred right now and

your credit limit is let’s say five thousand well they need to see if you

qualify for 10,000 so they’re gonna have to do

something to figure out if you if you do qualify now if you have some other chase

cards they might be able to move some credit around and allow you to to get

the Chase Sapphire reserve but you have to start at ten thousand they don’t they

don’t approve people under ten thousand as far as credit limit so that’s what I

think about the chase if I preferred upgrading when you should upgrade I

think really it comes down to your traveling habits if you travel a lot

that it really makes sense if you do not travel that much then I think you’re

safe for just saying what the Chase Sapphire Preferred because there are

some benefits in the chase EFI Reserve that you’re just not going to be able to

get so that’s my that’s my advice when it comes down to it but more importantly

I wanna know what you guys think so in the comment section what do you think

you should upgrade from the Chase Sapphire Preferred the Chase Sapphire

reserve do you think you should do it at all do you think you should just bypass

the taste that I preferred and just get the Chase Sapphire Reserve and not do

like a thing I was talking about where you’re getting the Chase Sapphire

Preferred first get to 60,000 sign-on bonus and then get the Chase Sapphire

reserve in one year what do you guys think about that please let me know down

below if you like this video please give me a thumbs up please subscribe for more

and check out these videos over here for some more great content talk to you

hey credit warriors well shots have been fired yesterday American Express announced a new hundred and twenty dollars uber credit on the gold card plus it eats pass on the green gold and platinum and today chase has fired back with their own offer on the sapphire preferred sapphire reserve and jp morgan reserve cards which is a credit for peloton membership you know the makers of those ridiculously expensive bikes and treadmills now I’m going to read out what they say so this is from a chase press release reserve card members will earn up to 120 in statement credits on peloton digital and all access memberships through December 31st, 2021. preferred card members earn up to 60 in statement

credits on peloton digital and all access memberships through December 31 2021 and the jp morgan reserve actually gets the same offer as the sapphire reserve now I know what you’re thinking here do you actually need the peloton bike for all this well the answer is actually no so this is for the digital access and there are two tiers of membership the more expensive one you do need peloton hardware such as the bike or treadmill or whatever but for the digital access only you actually do not need any penalton hardware it’s 12.99 I think it is a month and you get access to an app where you can you know to join various fitness classes and all that kind of stuff you don’t need any pelton

hardware so that lady in the commercial she didn’t need to get all emotional about her bike a peloton give it up for a first time ride all right first ride I’m a little nervous but excited she didn’t even need a bike she could have got the digital access and saved like two thousand dollars now how do you set this up well right now uh there is a landing page a url where you can enroll your card, okay this comes straight from the chase press release um obviously I think within the next few hours or a day or so they’re going to probably be sending out emails, uh they’ll probably have a pop-up on you know chase website when you log into your account but as of now a recording of this video still early there’s nothing like that so we just have the landing page from the press

release from chase okay and I’ll link to the press release down in a comment or something but anyway this is the direct link to the landing page you just go there you enter your card numbers etc and the credit will be applied automatically uh to your card for your spending on the pelton memberships now what do I think about this well I think that uh you know comparing it to what amex just brought in on the uber credit I think uber is a lot more universal than peloton so uber is definitely going to benefit more people okay with both uber and uber eats however with this peloton thing if you are even remotely into fitness and workouts and stuff like that you might as well try out at least the digital access um but it’s not like chase just giving you money I mean an uber credit it’s literally I can use uber every month for ubereats

and I’m literally saving that money for peloton this would be something I might try it but it would be something that I wouldn’t have done otherwise so it’s not really saving me money but you know it is definitely a cool thing to try out but uh if we’re talking about a battle between amex and chase I think amex wins on this one however they did say this in their press release this is the first step in a broader collaboration to provide sapphire card members more value when using their card with peloton so you know maybe there will be some things in the pipeline for example maybe even a discount on bikes or something if you want to buy a bike I don’t know but it does indicate that they’re going to be doing more with the peloton in the future right now we also have news of a hundred thousand points sign up offer with the chase sapphire reserve, okay and this comes from my fico forum post

by someone who got this mail in the office so this is a targeted mailing offer you can’t find this on their website but anyway here’s what he said chase sapphire reserve special offer approved 35.5 k I assume that is his credit limit all right 35 000 this is his final application for 2020. so he received a targeted mailer he was approved instantly for 35 000 and it had been a pre-approved offer for the chase sapphire reserve hundred thousand bonus points for ten thousand dollars in spending uh i assume that was in three months but get this the annual fee was also waived for the first year and then after that it would be 550 and he could also get two authorized users with their 75 annual fees waived as well and then the guy just gives a little bit of information about you know his situation his credit scores 761 with equifax 762 with experian he’s got 50 000 on deposit with chase premier plus checking which you know it’s not huge actually it’s a fair bit but it’s not huge and he got a 600 bonus for that so yeah very cool 100 000 point offer spending requirement obviously is double what it is on uh the public offer for 50 000 points okay 10 000 um dollars spending in the first three months but then you’ve got to remember that the annual fee is waived so you have to do more spending but uh you’re gonna save 550 in the first year and you

get two authorized users and your fees waived as well so yeah pretty cool offer um obviously not everyone is going to get this it’s a targeted mail-in offer so if you are targeted um you’ll receive it so do just look out keep checking your mailboxes guys if you want this but other than that yeah just hang tight in there maybe you’ll get it maybe you won’t anyway guys what do you think of the new benefits on these chase cards please leave your comments below subscribe if you’re new um if you want a sapphire card i would recommend starting with the sapphire preferred it’s currently got an 80 000 point sign up bonus i’ll put the link for that below so you can learn more about it also the chase freedom flex five percent uh or five points per dollar bonus at grocery stores at the moment as well so i’ll put that link below too you can learn more about both of those cards thanks so much for watching guys and we’ll see you next time bye

Hey I’m adam Jusko from proudmoney.com can I get chase to waive the annual fee on my chase sapphire preferred well I gave it a try today and I’m here to report the results but first I’m gonna ask you to please subscribe to this youtube channel if you have not already and if you have already I thank you for doing so so about a month ago I made a video saying I was trying to decide whether I wanted to keep or close this chase sapphire preferred I was sort of leaning toward keeping it for another year or I have been but I decided why don’t I give chase a call and see if I can get that annual fee waived instead and then it would be an easy decision I haven’t really used the card much I actually found out today I haven’t even used it since June but I would like to keep it if I can

https://www.youtube.com/watch?v=MHL2Q43zlvA

So anyway I decided to give them a call and say I would make a trade I would remain their customer if they would waive the annual fee which I thought was more than fair so I’ve had some success getting annual fees waived in the past from other card issuers usually what you want to do if you are trying to get a fee waived is actually wait for that fee to show up on your statement and then when you see it that’s the time to call in and see if you can get it waived and get that removed so I saw the 95 annual fees for the chase sapphire preferred had shown up on my statement and so I gave chase a call so I got the chase rep on the phone and she asked me what she could do for me and I said well I have this chase sapphire preferred and I’ve seen the annual fee is now on

my statement but I haven’t really been using the card but I would like to hold on to the card so I want to see if that annual fee can be waived and she said yes I can help you with that and so I was feeling pretty good about myself and then I realized that when she said yes I can help you with that it only meant yes it is my job to help you because you are a chase customer not yes we will waive the annual fee because the next thing she said was well we don’t waive the annual fee for that card so I said well that’s too bad I am thinking about canceling the card I really have not used it too much so there’s no possible way to waive that annual fee or maybe there is a retention offer and then she said sounding kind of bored, to be frank, I could downgrade it to a no annual fee card and then I said well I haven’t completely decided yet so those are

my only choices either keep that annual fee there’s no retention offer no possibility or just to downgrade and then she said would you like to add an authorized user and i said huh what does that have to do with anything so i was getting a little frustrated and i didn’t feel like i was making much headway with this chase rep so i decided as sort of a last-ditch effort to play the celebrity card so i said maybe you didn’t notice when you took the call but right now you’re actually talking to adam jusko of the proud money youtube channel yeah she said she wasn’t familiar with that channel but that i should check out this other channel she really liked called ask sebby at that point i wanted to get off the phone and so i told her i needed to think about it a little bit longer and she told me that i shouldn’t wait too long because otherwise they wouldn’t refund that 95 if i decided to cancel the card past the next statement date so a little of that story is embellished but bottom line the fact that chase was not willing to work with me at

all is completely true and it didn’t really surprise me i thought i’d give it a shot never hurts to ask but chase is sort of in the driver’s seat these days in terms of credit card companies they don’t need to do anything really to retain people they’ve got more than enough people coming in as new customers i think so i’m really not that important to them and i was not surprised that they weren’t going to work with me so i’m going to hold on to my chase sapphire preferred for one more year i’m gonna give them one more chance here and if they don’t do anything new to the card next year i definitely am going to cancel it but with the changes that have happened to the chase freedom cards over the past few months it’s really hard for me to believe that this chase sapphire preferred is just going to stay what it is right now for a whole nother year so i’m assuming that in 2021 we’re going to see some new things happen here a revamp of the chase sapphire preferred and perhaps the chase sapphire reserve as well so i’m going to sort of for now hold on to it see what happens and you know if it doesn’t change next year then it’s out of there so that’s it questions comments suggestions stories about how you got chase to waive the annual fee i would love to hear all of it in the comments section below otherwise i and as always please go to proudmoney.com where we do credit card reviews we talk personal finance we talk deals and all sorts of other fun stuff too bye

Boom all right guys so American express continues to fire shots and they’re doing one hell of a good job with it now just a few months ago in the middle of the lockdown we know that credit card stuff was at an all-time low take this article as an example in the month of may banks mailed roughly 74 million credit card offers to people’s homes down from more than 300 million in the months preceding the pandemic

Or if you still don’t believe me check out this consumer finance special report done by the federal reserve bank of philadelphia

as the kombucha 19 crisis evolves lenders continue to respond with the mix of caution and consolation reducing the availability of credit to new customers while offering protections to existing ones as of the writing of this report we do not observe lenders closing accounts reducing credit lines or increasing prices we do however observe the following number one april direct mail volume is down 33 from a year ago number two marketing spent on digital acquisition campaigns is down 58 from pre-pandemic levels number three application success rates are down across the board 13.6 percent lower for consumers with a risk score of 760 or greater since december number four the dollar value of new credit card alliance is down across the board 61 percent lower for consumers with a risk score below 580 and 42 percent lower for those with a score above 720 and number five credit limit increases are down from about one percent of accounts in march to just point four percent of accounts in april out of all the big banks and credit card companies american express continues to do a great job in providing extra value to their consumers now check out this article done by american banker back in april 24th of 2020. they stated with the kombucha pandemic paralyzing business across the globe american express is continuing to stress that small business owners are accepting the cards and younger consumers find value in amex rewards if these two audience continue to stand by american express it will keep the revenue ship steady next month american express will continue planned refreshes on a number of its card products squirrey said we’ll see enhancements to cards not air hotel related to provide more utility to the cards in general and this is exactly what we’ve been seeing he also mentioned our ability to add other values and credits in a couple of months will serve us well we want to continue to maintain the price value that we strive to have with these cards at the end of the article he also stated our intent is to come out of this very strong as we did in 2009 and after the internet bubble so in this video we’re gonna be going over exactly what those extra added benefits with american express are and i’m also gonna show some love to chase we’re gonna be talking about the current situation with one of chase’s best cards right now which is the freedom flex card as well now guys before i get started with this video it’s been about like a week since i last posted a video and it feels like it’s been a really long time since i actually recorded and at the time of this recording it’s the beginning of november time is flying we have two months left before this year is over and i’m trying to do a thing where i post a little bit more consistently throughout the next few months before 2020 comes to a close so i need your help and i need you guys to comment down below what kind of videos you guys want to see me post next all right to start off american express has unveiled a couple new offers to their tab and i wanted to discuss how american express offers work and what you should do if you hold any one of their cards so right before i film this video i was actually going through the offers tab and i was actually seeing a pretty good amount of unique offers out on the table i know that if i’m a little bit more disciplined in checking my offers regularly i definitely would have saved a lot of money got a lot more points than if i didn’t check it before out of my mistake in my error it’s going to be your lesson to learn right now after this video because you you have to watch the entire video so the youtube algorithm knows that people like watching this video after this video is over make sure you go onto your american express offers tab i will have it linked down below in the description so you guys don’t have to search at google or whatever you guys can just take it right there log on to your account and add all of these american express offers and i think the most interesting offer that i personally found on my cards was getting 25 back on best buy if i spent 250 now with holidays coming up black friday coming up i know that i’m gonna have the chance to at least buy something for someone that i can definitely get a discount on using this promotion now so if you guys are interested at all in buying some tech or some gear or preparing the holiday pre-black friday sales for yourself you can go ahead use this offer if you have a good deal online or whatever you’re trying to buy make sure you use one of your american express cards after you’ve activated this offer now with regards to american express offers i want to share this one little secret tip with you and that is to always use american express offers even if you don’t think you’re ever going to go to any of the restaurants now i’m not saying go ahead and add all 100 of them every time you see them loaded onto your account but you should definitely be adding at least 10 to 20 different offers onto your account so anytime there is a targeted offer through amex offers it will load it onto your account because it’s not going to be full with all the pre-loaded ones that you haven’t actually used so if american express is coming out with some type of unique targeted offer that only a couple people are getting you want to increase your chances the most and to do that you just got to use a couple more offers and guys keep in mind this is all free stuff all this costs you is just a little bit of time not even that much so go ahead use your american express offers and if you see anything that you plan on maybe going on a date night out on these are all free ways for you to save money with the credit cards that you have easy ways to maximize the cash you get don’t forget about amex offers free value now another thing i wanted to discuss in this video was actually talk about the increased welcome bonuses that we recently heard of from some of american express’s most popular and staple cards so the american express gold card has a new public offer instead of 35 000 mr points they’re offering you 60 000 mr points within a six month time span of four thousand dollars in spend that is absolutely insane not only one are you getting a higher welcome bonus than most people got when they first signed up for the revamped version of the gold card and also the rose gold card for any of my ogs that remember that one now they are increasing that minimum spend requirement time as well but guys three months to six months is a very long time for anyone to reach that minimum spend requirement to achieve this welcome bonus for this card i definitely wouldn’t sleep on this offer and if you’re someone who’s been hesitant about getting the gold card this is definitely a good enough offer for anyone right now looking to sign up for a card like that now aside from the sixty thousand and six months spend offer we’re also seeing another one this alternative offer offers you 35 000 mr points but they’re actually going to be giving you 250 back and the way this works is every time you spend money they’re going to give you 10 off of that total amount until you get 250 back in savings now personally for me i would still go with the 60 000 mr points because i know i can find more value than the one cent a one point redemption but if you really don’t value mr points at all and you think cash back is a lot easier to get then this might be a little bit better for you but if we’re talking about points of miles credit card and math the 60 000 is just much better because you have the potential of opening that up and getting a way better redemption towards the end now like i mentioned earlier in this video it’s not just the gold card that we’re seeing among american express’s cards that are getting increased welcome bonus incentives the american express platinum card at an original 60 000 mr points is getting a 75 000 increased welcome bonus if you spend 5 000 in the first three months now with this card they’re not extending the welcome bonus minimum spend requirement like with the gold card but this is still much better than your normal offer and if you can still get an additional 10 or 15 000 mr points that is still not bad but we also have to keep in mind with the platinum card they do have the 100 000 point offer somewhere out in the world usually in order to get this you have to use the card match tool and just in case you want to check it out i will have a link to the card match tool down below in the description if you want to shoot your shot and see if maybe you can get that 100 000 platinum bonus but in this case it’s still better than the normal rate i would still include it in there as a better increase welcome bonus because it it is an increased welcome bonus now also did want to mention the blue cash everyday card so this is a no annual fee credit card with american express it’s the ones i recommend if you are starting out as a beginner with this card you can find yourself getting 200 back instead of 150 if you spend 1 000 in the first three months it also has a no intro apr promotion of 15 months and it’s a great beginner card and if you’re someone who is in a very tight financial situation right now this may actually be one of the best cards you can add to your wallet just because you may be very late into the game i would never overlook some of these basic credit cards they could be some of the best staples that you add to your wallet and not have to worry about after you get the welcome bonus with cards like this it’s such an easy way to get free cash back and the only thing i would be mindful of is the limit of how many cards you can actually hold with american express if you’re at your fourth card and you’re about to go to your fifth definitely reconsider that type of move but hey if you only have one or two cards with them and you’re trying to add a little bit more this is something i would consider doing and if you wanted to you could always downgrade or cancel the card anytime ahead in the future now i wish i had more things to talk about with chase but um ever since they added the peloton feature which i i can’t believe that they thought that was such a great idea i don’t think anything has changed with the sapphire cards there isn’t really much to talk about with chase uh the freedom flex card is still a great card they are still doing the same promotion that they’ve had since they released that card and that’s that’s pretty much it the chase freedom flex card you all need to apply for this card it’s just a great card at the moment the welcome bonus is great the the five percent grocery store back is great it’s just a great card so if you have not yet applied for the chase freedom flex card i definitely would consider doing that soon especially before chase decides to lower the welcome bonus incentive again or or bring it back to the normal industry rate also one last thing let’s talk about business credit cards because a lot of you guys are also very curious about the current approval rates for those with business credit cards the data points are showing that current approval rates are continuing to increase week by week i’m hoping by the end of the first quarter of 2021 we’re gonna be able to see things return back to normal to the way it was pre-pandemic at the moment i can’t give an exact number but i would definitely say it’s between 50 to maybe 60 70 of what it used to be so they’re not just denying all new applicants right now they’re considering a lot of people they’re placing a lot of people under review but this is still much better news than what we were hearing a few months ago where banks like chase were just absolutely denying everyone automatically if you’re denied for a business card a few months back i would reconsider trying to apply for this card sometime soon and if you do do that make sure that you have the proper information so whether you have a business checking account you have your ein on deck or you have your legal entity formed just have your basics i’ve made a lot of business credit card videos so all the details are in those as well but just have the basics you’ll be good so thank you all so much again for watching another video if you guys have not yet subscribe to the channel don’t forget to do that don’t forget to check out the links down below in the description follow me over on instagram credit brian and don’t forget to join our facebook group if you guys have not done so already but thank you all so much again for watching and until next time peace out so the american express gold card is showing a new offer where if you’re spending four thousand dollars within six months and keep in mind usually it’s a three month industry standard uh

Hey credit warriors credit shifu here and this is a short video to tell you that this is your last chance to get the 80 000 points to sign up bonus on the chase sapphire preferred I’ll put the details on screen uh for you of that bonus all right now this is an elevated bonus it used to be I think 50 000 then it was 60 000 and then recently they bumped up to 80 000 points.

Now that’s worth a thousand dollars in travel because on the sapphire preferred you get an extra 25 cents in value per point when you book travel through the chase portal so it’s 1.25 cents per point and so you know obviously we just had the election we’re not totally sure who won yet so you know if your candidate didn’t win perhaps you want to leave the country and what better for leaving the country than 80 000 points that you can use on travel to a value of a thousand dollars all right let’s try and see the lights out of the situation.

Anyway so if you do want to get that card it’s only available for a few more days i’ll tell you the exact date you have to apply by in just a moment but first of all just some details of the sapphire preferred so it earns two points per dollar on travel and dining it’s what i would call a tier three card right so it has a 95 annual fee which isn’t waived for the first year you get some other benefits which they’ve added recently like a door dash benefit etc um but yeah it’s a solid tier three card and to get the bonus you have to not be a sapphire member and remember now you’re only allowed one sapphire and you can’t have had a new card member bonus on a sapphire in the past 48 months now if you fit that criteria then well done awesome you can apply for this you can get an 80 000 point bonus worth of thousand dollars in travel through the chase portal and you have to apply for it though before november 8th so the bonus is going away on november 8th so you’ve got like including today you’ve got like basically four days fourth fifth six seven yeah i don’t know if it’s on november 8th or midnight november 8th but i would say apply before november 8th to be sure so you’ve got basically four days all right apply by the latest the seventh and if you’re thinking about you know this or the sapphire reserve i would say go for this first and then after a year upgrade to the sapphire reserve and then you can get things like lounge access et cetera because the sapphire reserve only has a fifty thousand point sign up bonus so eighty thousand versus fifty thousand come on i think it’s a no-brainer anyway guys if you are interested in this card i will put the link below as always for you to learn more about it they are affiliate links they help out our show if you want to see the advertised disclosure right at the bottom of the description section um if you do apply for it i wish you luck and i wish you much happiness enjoying spending those points on travel let me know what you think in the comments below please subscribe if you’re new and we’ll see you next time bye