The TOP 5 WORST Credit Cards In 2024

"With this, you'll get stars for every dollar you spend on eligible Starbucks purchases. From there, those stars could be redeemed for drink customizations, brewed coffee, handcrafted drinks, and more. All for the low price of just wait $49 a year."

"Now, it's not their 24% interest, 8% cash advance charge, or $39 late fee that bothers me the most. Instead, it's the $99 annual fee charged after the first year's $75 fee with monthly charges of $8.25 for pretty much absolutely nothing."

"Setup and maintenance fees will be assessed before you begin using your card and will reduce the amount of credit you initially have available or basically right off the top before you even begin using your credit card. $99 is taken out. So if you have a $500 credit limit, congratulations. Now it's only $41. If you want an additional credit card, that'll also cost you another $30. After the first year, they'll also charge you another $10 a month as a monthly maintenance fee, bringing your total annual cost to $199."

"Now I think the whole point of luxury is not having to say it's luxury. But you know what? I digress. Anyway, the $495 annual fee is cheaper than both the American Express Platinum and the Chase Sapphire Reserve at $6.95 and 550 respectively."

"For the low low price of just $995 a year, you could get a 24 karat gold-plated credit card to fit perfectly alongside with your ego."

"With this, you'll get stars for every dollar you spend on eligible Starbucks purchases. From there, those stars could be redeemed for drink customizations, brewed coffee, handcrafted drinks, and more. All for the low price of just wait $49 a year."

"So, in the first year, you could get all the way up to $312 worth of free Starbucks coffee."

"And to maximize the rewards, you'll have to load money into the Starbucks app and then use that to buy the coffee once it's already locked away, which according to the points guy is worth the equivalent of getting 4% back."

"You'll also get anywhere between one and three stars depending on where you spend your money."

"So, long story short, yes, you could absolutely make this card worth it if you go to Starbucks on an almost daily basis because you're addicted."

"For instance, the Chase Freedom Flex just straight up gives you $200 cash when you spend $500 in the first 3 months. And they'll give you 10 points per dollar spent at Starbucks this summer, which works out to a 10% ROI."

"There's also the American Express Gold card that automatically gives you four times points per dollar spent at restaurants. So, it's almost the same thing, except you could use those rewards towards any coffee shop without having to spend $5 on liquid sugar."

"Now, it's not their 24% interest, 8% cash advance charge, or $39 late fee that bothers me the most. Instead, it's the $99 annual fee charged after the first year's $75 fee with monthly charges of $8.25 for pretty much absolutely nothing. In fact, just to break even on the card's 1% reward on select purchases, you would have to spend $9,900 a year within their select merchants simply to not lose money."

"I was able to cancel my Credit One credit card within about a year from opening it, and it's been over a decade since I've had to deal with them. But had I known about their practices sooner, I would have much rather have gone with something like the Discover it Secured card with no annual fee, 1 to 2% cash back, and automatic rewards matching for the first year."

"So, if you're interested, get started today by clicking the link down below in the description and signing up for a free account with Experian. Or you could also download the Experian app. That way, you could take back control of your score, work to increase it even higher, and then brace yourself for the next option on the list. Three, the Continental Finance Mastercard. Except from the way I see it, there's nothing Continental about it. Especially when there's an option to accept mail offer, just knowing that someone was unlucky enough to get this delivered to their mail without immediately throwing it away. So, what's so bad about it? Well, as they say, Continental Finance is one of America's leading marketers and servicesers of credit cards for consumers with less than perfect credit. And you would think to leave it there if you're not weird like me to read through 17 card holder agreements to find all the atrocities hidden in the fine print. And believe me, it is wild. Like once you apply, they may determine that you need a security deposit as collateral up to the full amount of your credit line, which all right, that's standard if you're building your credit. No surprise there. But wait, what's this? Setup and maintenance fees will be assessed before you begin using your card and will reduce the amount of credit you initially have available or basically right off the top before you even begin using your credit card. $99 is taken out. So if you have a $500 credit limit, congratulations. Now it's only $41. If you want an additional credit card, that'll also cost you another $30. After the first year, they'll also charge you another $10 a month as a monthly maintenance fee, bringing your total annual cost to $199. So, there you go. You just played yourself. And if that's not bad enough, they also have a late payment fee up to $40, which basically means it's probably just going to be the full $40 because why would they charge you any less than the absolute maximum that they're able to? Oh, and did I mention that you get no rewards at all? Yeah, seriously. You're paying them up to $200 a year for the privilege of getting to pay them up to $200 a year. Makes absolutely no sense."

"For instance, the Bank of America Cash Rewards card, which gives you a $200 cash bonus when you spend $1,000 in the first 90 days with no annual fee, 0% interest for the first 15 months, and up to 3% cash back in the category of your choice."

"Let's start with the 2% airfare redemption. Yes, it is true that you will get 2% back when redeeming for points, but what they don't tell you is that you only get one point per dollar spent, which completely defeats the point."

"Take the Chase Sapphire Reserve for example. If you spend $1,000 on travel, you will get 3% back in points. And at a 1.5% redemption rate, that's worth $45."

"On the other hand, with the Mastercard Black Card, sure, you get a 2% redemption rate, but when they only offer you one point per dollar spent, that leaves you with just $20 worth of value."

"Yes, you get 1 and 12% cash back, but if that's what you really wanted, you would be much better off with the City Double Cash card instead, which gives you unlimited 2% cash back without any annual fee."

"They also show off the card's weight, like what? I didn't even know there was a competition to see who had the heaviest credit card."

"They also offer you a complimentary subscription to Luxury Magazine, where each issue showcases an artist's work as the cover art, making it a limited edition collector's item."

"They don't even offer you a signup bonus unlike every other credit card at this price point, which is typically worth anywhere from $750 to $1,500 when redeemed for travel."

"With this premium price, you'll get all the benefits of the exact same 2% redemption on airfare as the Mastercard Black Card, 2% cash back, which you may as well just take that because the airline redemption is the exact same thing, and a $200 travel credit instead of a $100 travel credit."

"So, wait, let me get this straight. You pay $500 more a year for a $100 additional travel credit and half a% more in cash back while getting to swipe a 24 karat goldplated credit card that you could purchase online for $189."

"You do realize that just to make up for that extra $400 difference between cards, you would have to spend $80,000 extra every single year on that card just to break even on the annual fee."

"I think the whole point of luxury is not having to say it's luxury."

"So, the net amount that you're actually left over with is up to 50% less."

"So, it's effectively $145 cheaper every single year, and it's not going to weigh down your wallet."

"So, it's anyone's guess who would actually get this. But even though those are my personal least favorite credit cards of all time, if you're wondering, "But Graham, what are some of the best credit cards I could get?" Don't you worry, I'll link to a video down below in the description that goes over my personal favorites as well, right after, of course, you subscribe and hit the like button for the YouTube algorithm."

"And that you could get yours for free from our sponsor, Experian. I'm actually really glad they reached out because I've legitimately talked about their products and services in my prior videos for free as a product that I've really liked and recommended for anyone who's looking to improve their score."

"Experian has a service that allows you to take control, track your FICO and credit report, see exactly what's affecting your score both positively and negatively, and see exactly when your FICO score changes, so that you could better understand exactly what's going on."

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"Most people are not aware that checking their own credit report has absolutely no negative impact on their score, and there's no credit card required. And Experian offers everything that you need to see your report and help improve your score all in one place."