THE number one mistake people make is having a lot of cards, chase the points, and not able to pay them back. Credit card is extremely useful and can save on everyday spendings, but no point is worth of getting into debt. Utilize them responsibly!
🌳. Just got approved for the CFU for 6K. First non student card I have so I’m excited about being able to start saving points for my honeymoon next year.
If you use your SSN to get the Chase business card because sole proprietor/not having a tax EIN, it DOES count towards 5/24. Ask me how I know. (Found out after I got denied for a second business card)
🌲 My mistake is hoarding points. I've always wanted to use points to book ANA to Japan, but found the process too difficult. Now I'm just wasting an annual fee on a CSP without redeeming anything with my points.
Been watching your content for over a year. Excellent insights That being said, I did this all @$h backwards 😂 I STARTED with the Amex Platinum, then Hilton, IHG, Chase Sapphire, Citi Premier, Delta... Now Capital One has denied me TWICE. If I could start over, I would start with Capital One then Chase
🎄1. )Accidentally applied for PayPal credit 2.) Team travel 3.) had financial issues with all cards due to a family illness but built back to Amex platinum and Capital One Venture X. No chase cards yet as I fear I’m in jail with them and for how long? Thanks!
🎄1. )Accidentally applied for PayPal credit 2.) Team travel 3.) had financial issues with all cards due to a family illness but built back to Amex platinum and Capital One Venture X. No chase cards yet as I fear I’m in jail with them and for how long?
soo i have the CIC, CIU, CIP as of right now and its been maybe 2 years since I had the cards, can I cancel them and then reapply for the cards and get the bonus or am I suppose to NOT have the card for 2 years?
I have 4 cards I'm at 3/5 for my 24. I started out with capital one and it upgraded to quicksilver. now I have an apple card Citi diamond preferred then lastly Amex platinum. originally, I was going for the gold next whenever a good bonus came up but that was before I researched about the 5/24 rule. what 2 chase cards should I go for? I don't care about the yearly fees I found out in the military most card companies waive it. I got my platinum last month I just need 2k left for the bonus and in changing duty stations in a few months I was also wondering what SOB should I work on next.
I would add another mistake to avoid: foreign txn fees, esp if you travel a lot. Chase and Citi setups are great, but their high bonus categories ones (Freedoms, custom cash) have foreign txn fees and therefore not good to use abroad. CapitalOne is the only one where all their cards have no foreign txn fees (e.g., savorone + venturex combo). Amex cards may not have foreign txn fees but it’s just not as widely accepted abroad as visa or mastercard. 🌲
Great video! I made a lot of these mistakes when I started (doing fine now). I think you should just caveat these mistakes with the fact that: time and paying your bills on time will smooth out/minimize any mistakes. Just don't panic and make more mistakes because of the original ones (...I may have done this too; again doing alright now).
My name is Taylor… Debby do you repair credit? If so I really need your assistance in repairing my credit… I want to buy my house this year but I really need to raise my score to get good rates
🌳 Not realizing the power of sign-up bonuses was a big mistake. In 2012, I got the AMEX Gold and in 2015, I upgraded to the AMEX Platinum. I didn't even think about going for bonuses because I didn't realize the power of those points then. I'm more strategic with credit cards and always hit the mark to receive bonus points.
Hi, I'm currently a student and i have the CFU. Do you think it's worth it to get the C1 Savor right now? I already got pre approved and my score is around a 740. I hope to get the VX later, and I heard that C1 likes approving proven customers, so I wanted to start out well. Any thoughts?
The mistake I made was following a friends advice who seemed to know a lot. Turned out her knowledge only scratched the surface. She had zero knowledge about transferring (or transfer bonuses) and only used the Chase and amex portals. She knew nothing about the value of Hyatt. I opened a CIBP and a CSP on her advice. However, I also opened an IHG and a Marriot card. She didn't warn me about 5/24. Turns out it was ok as I was still under. I used all the hotel points to cover my first trip with points. And eventually PC to a Ritz card (best card ever)!! I got the 2 freedom cards and several more inks and 2 amex business cards thanks to your channel (and Julia and Max) and hours of podcasts on my commute. # years later I am at 2/24 with 2 new CFF with 10X on grocery (P2 and P3)I am mxaxing out ! Thank you for all your great videos.
🌳 Thank you for making this video... this whole credit card points thing is starting to make some sense. I only have a student card from uni. I will take these suggestions into account for my next card acquisition. 1) Only have a student cash back card since graduating from Uni. 2a) I'm in the cash-back/bank points bucket 2b) I'm in the bucket that has some credit history (only one card). Would it still be possible to get Capital One after doubling up with Chase? (In this case, I would have a total of 3 cards before applying for Capital One) 3) Nothing has changed... If anything, I'm more aware of credit points and their value.
I do business consulting: focus on your business, not your credit card points. Pick a card that will give you the spending power you need and then be done with it. This travel point optimization crap is a distraction. You have to reduce your business deductions by the value of points you receive anyway.
🌳 1.) Not researching this sooner. Could've gotten much better value on a decade of biz spend. 2.) Team travel for biz, tho still team cashback (mostly) for personal. Could change when/if I decide on a preferred ecosystem. Much more spend on the biz side. 3.) Hasn't changed yet. Player 3 old enough to travel & enjoy places now, so figure team teavel for a bit. Parents aren't getting any younger, tho...could eventually throw a wrench in the works.
🌳 Single person, no kids. Unlikely to change. Team travel. Question: as a Mariott loyalist who already has the bank cards, and the AmEx Platinum has Gold Status, is the Brilliant really my only ply for better perks and status? Seems that way, but oof, that fee, on top of the ones I am already paying. Bought to drop a big amount of cash in December on one of those large big ticket items, and it seemed like the best time because the spend will be easy.
It's good if you can maximize the 85k free night, and if you want free breakfast during your stay. If you don't care about breakfast, then the Amex Platinum is good enough.
I don’t care about Chase 5/24, besides the annoying fact that I just moved 10 minutes away from one of the largest Southwest hubs in the country. Locked out of a SW credit card for two years when I could be benefitting as a now frequent flyer.
UA-cam: “ _GEM-OF-THE-WEEK_ , how do you feel about this striking Venezuelan weather report” Me: “there’s so much movement in Midtown it caused a major traffic jam” UA-cam: “You’re talking about the lag” Me: “there was lag?….I could roll with it….but then again, I’m not her type 🐢” UA-cam: “So what do turtles do in traffic” Me: “turtle stuff” UA-cam: “🥳” Me: “🌋”
🎄I wouldn’t do anything differently as the mistakes I’ve made along the way has helped me tremendously. I booked my honeymoon (first class on emirates a380 and biz class Air France and park Hyatt Milan and Paris) all on points. Saved me $50,000
What are you talking about? I wouldn’t get US Bank before Chase or Capital One cards. Also covered the card here: ua-cam.com/video/Hq7a4U3fejw/v-deo.html
💳 Sebby's Card Picks: www.asksebby.com/credit-cards
If I could restart the whole game, I will set up capital one duo first, then chase trifecta.
Me too. Apparently my credit is too good to open a card at Capital One.
100% agree. I have the capital savor (original savor) and chase freedom unlimited. My next card will be the venture x
@chosenlieutenant3978 savor is just too good to passed, the most important feature of C1 no annual fee card is the no foreign transaction fees
If I knew about the 524 rule with Chase, I would’ve started with them first and then go to Capital One
Capital One Savor One didn't give me intro bonus and it's not just me, but otherwise its a fantastic card
THE number one mistake people make is having a lot of cards, chase the points, and not able to pay them back. Credit card is extremely useful and can save on everyday spendings, but no point is worth of getting into debt. Utilize them responsibly!
🌳. Just got approved for the CFU for 6K. First non student card I have so I’m excited about being able to start saving points for my honeymoon next year.
Congrats!
If you use your SSN to get the Chase business card because sole proprietor/not having a tax EIN, it DOES count towards 5/24. Ask me how I know. (Found out after I got denied for a second business card)
5/24 is the most overblown rule around
5/24 is for FOMO. I personally don’t care
It's very important.
🌲 My mistake is hoarding points. I've always wanted to use points to book ANA to Japan, but found the process too difficult. Now I'm just wasting an annual fee on a CSP without redeeming anything with my points.
Never too late to book the flight! Have you tried tools like Seats Aero? asksebby.com/seatsaero
You can always do it the unoptimized way and go through the chase travel portal.
Been watching your content for over a year. Excellent insights
That being said, I did this all @$h backwards 😂 I STARTED with the Amex Platinum, then Hilton, IHG, Chase Sapphire, Citi Premier, Delta... Now Capital One has denied me TWICE.
If I could start over, I would start with Capital One then Chase
Capital One is tough if you have a lot of cards. 😅
🎄1. )Accidentally applied for PayPal credit
2.) Team travel
3.) had financial issues with all cards due to a family illness but built back to Amex platinum and Capital One Venture X. No chase cards yet as I fear I’m in jail with them and for how long?
Thanks!
🌳 team travel. Just got Venture X and Amex gold and hit SUBS fast thinking about Business plat or Chase next
🎄1. )Accidentally applied for PayPal credit
2.) Team travel
3.) had financial issues with all cards due to a family illness but built back to Amex platinum and Capital One Venture X. No chase cards yet as I fear I’m in jail with them and for how long?
Do authorized users accounts count against Chase 5/24 rule? 🌳🎄
soo i have the CIC, CIU, CIP as of right now and its been maybe 2 years since I had the cards, can I cancel them and then reapply for the cards and get the bonus or am I suppose to NOT have the card for 2 years?
I think having the two as personal cards don’t make sense but I have the Reserve for my personal and the AmEx for my business.
Got the AmEx 175,000 deal. Pretty damn excited about it
I have 4 cards I'm at 3/5 for my 24. I started out with capital one and it upgraded to quicksilver. now I have an apple card Citi diamond preferred then lastly Amex platinum. originally, I was going for the gold next whenever a good bonus came up but that was before I researched about the 5/24 rule. what 2 chase cards should I go for? I don't care about the yearly fees I found out in the military most card companies waive it. I got my platinum last month I just need 2k left for the bonus and in changing duty stations in a few months I was also wondering what SOB should I work on next.
I would add another mistake to avoid: foreign txn fees, esp if you travel a lot.
Chase and Citi setups are great, but their high bonus categories ones (Freedoms, custom cash) have foreign txn fees and therefore not good to use abroad. CapitalOne is the only one where all their cards have no foreign txn fees (e.g., savorone + venturex combo).
Amex cards may not have foreign txn fees but it’s just not as widely accepted abroad as visa or mastercard.
🌲
Chase Sapphire cards do not have foreign transaction fees neither.
Great video! I made a lot of these mistakes when I started (doing fine now). I think you should just caveat these mistakes with the fact that: time and paying your bills on time will smooth out/minimize any mistakes. Just don't panic and make more mistakes because of the original ones (...I may have done this too; again doing alright now).
Great tip!
The biggest mistake I made was that I got the Plat Amex first. Now i am locked out of both green and gold bonus.
My name is Taylor… Debby do you repair credit? If so I really need your assistance in repairing my credit… I want to buy my house this year but I really need to raise my score to get good rates
🌳 Not realizing the power of sign-up bonuses was a big mistake. In 2012, I got the AMEX Gold and in 2015, I upgraded to the AMEX Platinum. I didn't even think about going for bonuses because I didn't realize the power of those points then.
I'm more strategic with credit cards and always hit the mark to receive bonus points.
That's a rough one! Glad you're being more strategic with bonuses now :)
Why would someone care about 5/24 when Chase cards are quite uncompetitive against other cards available now?
CSP is very competitive as a keeper card as well as their Business Ink and Business Unlimited Intro Bonuses.
@dw4421 How is it competitive? Do you actually have a business or are you one of the people that abuse SUBs?
W double upload Daddy Sebby 😅
😉
Hi, I'm currently a student and i have the CFU. Do you think it's worth it to get the C1 Savor right now? I already got pre approved and my score is around a 740. I hope to get the VX later, and I heard that C1 likes approving proven customers, so I wanted to start out well. Any thoughts?
Are rules such as Chase 5/24 specific to credit cards ONLY OR can they also look at recently opened loans as well?
Credit cards only.
The mistake I made was following a friends advice who seemed to know a lot. Turned out her knowledge only scratched the surface. She had zero knowledge about transferring (or transfer bonuses) and only used the Chase and amex portals. She knew nothing about the value of Hyatt. I opened a CIBP and a CSP on her advice. However, I also opened an IHG and a Marriot card. She didn't warn me about 5/24. Turns out it was ok as I was still under. I used all the hotel points to cover my first trip with points. And eventually PC to a Ritz card (best card ever)!! I got the 2 freedom cards and several more inks and 2 amex business cards thanks to your channel (and Julia and Max) and hours of podcasts on my commute. # years later I am at 2/24 with 2 new CFF with 10X on grocery (P2 and P3)I am mxaxing out ! Thank you for all your great videos.
5/24 is to promote FOMO. Personally idc.
🌳
Thank you for making this video... this whole credit card points thing is starting to make some sense. I only have a student card from uni. I will take these suggestions into account for my next card acquisition.
1) Only have a student cash back card since graduating from Uni.
2a) I'm in the cash-back/bank points bucket
2b) I'm in the bucket that has some credit history (only one card). Would it still be possible to get Capital One after doubling up with Chase? (In this case, I would have a total of 3 cards before applying for Capital One)
3) Nothing has changed... If anything, I'm more aware of credit points and their value.
Do you do consulting? Starting a business and need your insight on which cards would be the best for my use cases.
I do business consulting: focus on your business, not your credit card points. Pick a card that will give you the spending power you need and then be done with it. This travel point optimization crap is a distraction. You have to reduce your business deductions by the value of points you receive anyway.
Would a new personal card from Chase that has not reflected on your credit report yet count toward 5/24, if ur at 4/24?
🌴
Sorry typo Sebby…
Wow luckily first 😂
🙌
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What if I cancel a subscription personal card after a year. Does it still counts towards my 5/24?
🌳🌳🌳
Anyone know if being an AU (Authorized user) affect’s the 5/24 rule??
Sometimes. You’ll have to call up Chase to explain it’s a AU account
I regret closing my delta Amex blue card because I am not using delta anymore due to moving.
Perfect I just got the AmEx Plat CS card. Making it my 17th card at 24 yr old
🌲
rocking WF till i die😎
🌳 1.) Not researching this sooner. Could've gotten much better value on a decade of biz spend.
2.) Team travel for biz, tho still team cashback (mostly) for personal. Could change when/if I decide on a preferred ecosystem. Much more spend on the biz side.
3.) Hasn't changed yet. Player 3 old enough to travel & enjoy places now, so figure team teavel for a bit. Parents aren't getting any younger, tho...could eventually throw a wrench in the works.
Japan is the first in my bucket list, you should give so pointers
Covered here and the Sebby Fung channel ua-cam.com/video/svdKk9ugCLM/v-deo.html
🌳 Single person, no kids. Unlikely to change. Team travel. Question: as a Mariott loyalist who already has the bank cards, and the AmEx Platinum has Gold Status, is the Brilliant really my only ply for better perks and status? Seems that way, but oof, that fee, on top of the ones I am already paying. Bought to drop a big amount of cash in December on one of those large big ticket items, and it seemed like the best time because the spend will be easy.
It's good if you can maximize the 85k free night, and if you want free breakfast during your stay. If you don't care about breakfast, then the Amex Platinum is good enough.
Support the channel
I don’t care about Chase 5/24, besides the annoying fact that I just moved 10 minutes away from one of the largest Southwest hubs in the country. Locked out of a SW credit card for two years when I could be benefitting as a now frequent flyer.
🌳what if you applied for a card but didn’t get! Does that count towards 5/24🌳
Nope
UA-cam: “ _GEM-OF-THE-WEEK_ , how do you feel about this striking Venezuelan weather report”
Me: “there’s so much movement in Midtown it caused a major traffic jam”
UA-cam: “You’re talking about the lag”
Me: “there was lag?….I could roll with it….but then again, I’m not her type 🐢”
UA-cam: “So what do turtles do in traffic”
Me: “turtle stuff”
UA-cam: “🥳”
Me: “🌋”
Squuuuuuuuuuad
🙌
🌳 Do you have the Capital One venture X?
He’s shown in in the what’s in my wallet video
🎄I wouldn’t do anything differently as the mistakes I’ve made along the way has helped me tremendously. I booked my honeymoon (first class on emirates a380 and biz class Air France and park Hyatt Milan and Paris) all on points. Saved me $50,000
Congraulation, you're going to have a kid!! 🌳🌳
Maybe in a few years! No immediate plans yet 😅
Are you pretending that the new us bank credit card does not exist or something?
What are you talking about? I wouldn’t get US Bank before Chase or Capital One cards.
Also covered the card here:
ua-cam.com/video/Hq7a4U3fejw/v-deo.html
That card has no sub. No sense in burning a 5/24 slot on
He did say he was team travel. And that card is not worth 5/24 slot
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