Credit one card review, the good, the bad and the ugly we gonna talk about it in this video hi. My name is gigi. Welcome back to my channel, i’m real estate agent in South Florida. If you knew consider subscribing in this channel, we talk about the home, buying tips and money, saving tips and all the topics that will help you to reach financial freedom. So if that’s something you’re interested, welcome and consider subscribing, so you don’t miss any new videos and today we’re talking about credit, one credit card, which is my first ever credit card and what i like about it and what i don’t like about. So let me quickly share my story that i was born and raised in europe and in Europe Credit Cards are not popular at all.
People don’t use that we only use debit cards, whatever we have in our account or we use cash if we might take loan for a car or a house, but we don’t take credit to spend on purchases. I came in u.s in my early 20s and in the beginning i was not interested in credit cards at all. It was something new for me and i feel like i didn’t need it only when i got my real estate license and i started to see how important is to have a good credit score in the u.s. Only that’s when i start to get interested and educate myself more about at that time. I had the debit card, i think with bank of america and i tried to apply through them to get my credit card and i was denied. I was very upset about it and um. I didn’t know what else should i do, but in a few months i received in my mail the offer for from credit one now. First of all, let me clarify that credit. One and capital one is two different companies. That’s my mistake, number one.
I did because i knew some friends who have capital one and they said it’s a good credit card, especially for beginners. So with very similar name and very similar logo. I was mislead. I thought i’m applying and getting capital one, which i end up with credit one which is not, in my opinion, as good as capital one. So let’s clarify that. First of all, so i got mislead. I got a wrong credit card, but at least i was approved as mentioned in the past, I was denied by a big banks. Now what surprised me the most, i think, even before they send me credit card when i log into my online website. I already see that i own them the annual fee, and i think there was a few other things they charged me for shipping or things like that. It which surprised me a lot, but at that point i was still happy that i’m getting my first credit card and it will help me to build my credit score over the years.
Also they have one percent cash back on all purchases which i also enjoy. I think if i’m already spending money with cash or debit card, why not getting that one percent back which honestly in first year it paid off, i probably earn as much as i spend on annual fee, maybe a little bit more. So i it helped me to break even with my annual fee now, when months go by, they keep on surprising me with those extra charges they charge me every month like. I will show you example here, like like credit protection. What is that, when i signed up it didn’t say anything or if it said most like it was really small print and every month i pay on full before my due date. Why they keep charging me on my purchases. So i honestly still don’t get that i should call them, but every time i keep pushing it and pushing it, because i know it probably will take minimum one hour to talk with different managers and explain my situation and it’s only like a dollar or two a Month so in my head, it’s not worth to go through all this mission to get my two dollars back, but these surprises were not pleasant and as of today, honestly, i don’t trust this company and i wouldn’t get my other card because i don’t know what other Surprises they will give me in the future. Also in the beginning, i had a habit for my own benefit.
Every time i make a purchase or every few day pay my card in full, so i don’t carry any debt and surprisingly, after doing it four times a month, the fifth time they don’t allow me to do it. They said four times maximum, which i found it very awkward and why don’t allow people to do as many as they want to help them to be on track with their financial life, and once when i made payment, they give me option, make express payments. So i press that – and next thing i know they charge me 10 for that extra payment, which was another surprise for me. So, honestly, i’m a little bit regretting that i got this card, especially as my first credit card. Ideally, if possible, you want to get first credit card with zero annual fee, so you can keep it as long as you can and it will show very long credit age which takes up to 15 percent of your credit score.
But the only good thing that at least they approve me, while others didn’t approve me, while others denied me right away and also it helped me to open another doors, probably after six months, using that car and paying on time all the time. Every month i received an offer to apply for discover its credit card and by that time i heard so many good things about this credit card. So, without even thinking i applied for this card and i was, approved right away with a 1500 credit limit without even a secured card now i know, many beginners go with discovered secured card. First before they get unsecured one. I was approved immediately for unsecured card, which i think is awesome and without having credit one, i don’t think i would have been able to get this cover in especially unsecured car and after having these two credit cards within another six months. I received offer from american express that they offered me to join and i had to sign up bonuses that they gave me points and with every purchase. I also earned points so right now. I even have american express card and i can earn points and use it towards traveling in future, which i want. I wanted that for a long time, so i guess i need to give them some kind of credits. They helped me to open the door and build my credit to that point.
That other credit card companies started to trust me. But when i got discover its credit card and i see that with them, i have no surprises, no charges. That would surprise me. The customer service is amazing. The app is amazing, i’m so extremely happy with my discovery, credit card which, by the way, i made a specific video. So you definitely check this out if you haven’t watched that video, yet so, if you’re, a beginner and you’re. Looking for your first credit card here are my thoughts. First, try with discover it it’s ten times better for beginner. It has zero annual fee, more cashback rewards. So, if by any chance, you can be approved for that card, definitely definitely go for this card better than the credit one. However, i’m very active in some credit cards forums, and i see that some people are being denied even for secure, discover its credit card. If that’s the case, then credit one might be a good thing for beginners to build big credit score, so other credit cards start to trust them and opening their doors for them, which i did, and there are some other, even worst credit cards who charge.
Also, these annual fees – and they have all these surprising fees every month which don’t give you no cash back zero cash back this one at least give you one percent, which gives you opportunity to break even and have this card for free, so it all depends where You’re standing at this moment with your credit score once again, try discover it first and only if you will be denied by discover then try credit one. So you can get this one percent cash back at least. So that’s my thoughts. If you have any other questions, please leave them in the comments below. If you haven’t already, please subscribe and hit thumbs up, it helps my channel a lot and now, if you want to go check these two videos from my last few weeks, i hope you will like them and i hope to see you there. Thank you and have a wonderful day.