Here are the worst credit card tips we found on TikTok

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If you’re looking for bad credit card advice, look no further than TikTok.


Key points

  • TikTok, a social media platform for sharing short videos, has over 1 billion active users.
  • Before following credit card advice from a TikTok video, be sure to do your own research.
  • The goal of many TikTok influencers is to get as many followers and views as possible. They also earn money when you click on their affiliate links.

ICT Tac has become a go-to source for all kinds of advice, from fashion advice to relationship advice. But when it comes to Financial advice, you have to be careful. We’ve seen a lot of bad credit card advice circulating on TikTok, and we’re here to set the record straight. There’s no shortage of terrible tricks when it comes to using credit cardand TikTok is a hotbed for that.

How to get in trouble with credit card companies

TikTok user @jt.franco recommends “credit card churning,” where you refer to different premium travel credit cards to earn even more bonus points. Then, after earning those points, he says, you cancel your card and start the process all over again. It does not mention that credit card companies disapprove of this practice and have taken steps to ban it.

Also, every time you open a credit card or close an account, it hurts your credit score. To qualify for bonus points, you usually need to spend a minimum amount within a certain time frame. You also have to pay the hefty annual fees that come with these premium cards. If you were to spend the money anyway, the bonuses are the icing on the cake. But you don’t want to open a credit card, spend money you don’t have, and incur additional debt just to get points.

The best credit card for beginners?

TikTok user @JoeParys says there are three types of credit cards you shouldn’t get. The first are proprietary cards, the second cards that are not accepted everywhere and the third are cards with annual fees. If you have a problem with credit cards and you don’t pay your balance every month, then he’s right: you definitely want to avoid store credit cards, as they tend to have the lowest interest rates. higher.

But if you pay your credit card bills every month, some store cards can give you great deals, especially if you shop around a bit. I have a Best Buy credit card and for every dollar I spend on it, I get Best Buy Rewards certificates. I was able to rack up enough rewards to get a free TV when I upgraded. I have a clothing store card that gives me generous points, and I haven’t had to pay for a new wardrobe in the past two years.

Even his advice not to get a card that is not accepted everywhere, such as a American Express or Discover Card, may not be the right advice. American Express is known for its benefits and concierge services. If you have bad credit or no credit, the Discover it® Secured Credit Card can help you build your credit score and history. Even cards that have an annual fee can be advantageous. I have one United MileageMore card, and although it has an annual fee, the perks I get (such as free lounge access and free premier status with some hotels and car rental companies) outweigh what I pay. The bottom line is that you should do your own research to find out what is best for your personal situation. As long as you are a disciplined spender and pay off your cards each month, you should look for a card that gives you the best benefits based on your needs.

Say no to these cards!

In one of his videos, TikTok user @zacharyburrabel lists three specific credit cards you should say no to, then recommends three others you should say yes to.

While he notes in the comments that the cards he recommends may have better rewards and conditions than others, the key is to take advice like this with a grain of salt. You want to do your own research and not blindly follow anyone. Remember that TikTok influencers want as many followers and views as possible and need to capture your attention within seconds.

Say yes to these cards!

Just type “credit cards” into the TikTok search bar and you’ll see hundreds of videos about the best cards you should get. Some offer decent advice, while others clearly point to their outside site so you can click on the credit card affiliate link. TikTok does not allow users to add affiliate links to their videos. However, influencers can promote their brands and products on their TikTok profile.

That’s how they make money. A user will recommend a credit card to their subscribers through their site. When you click on the link and get the card, the user will receive a commission on the sale. Some credit card companies pay a higher amount of commission, so it is beneficial for users to push and recommend these cards over others. Before you start clicking on a bunch of links and opening credit cards, be sure to compare credit cards to find the one that’s right for you.

The limits of TikTok

TikTok videos can be up to three minutes long. It can be difficult to condense complex financial concepts into such a short time. It’s important that viewers don’t take everything at face value and do their own research. Also, be aware that a video’s view count doesn’t necessarily reflect its accuracy. It just means that these videos are more appealing to viewers. But viewers should double-check the advice offered and understand the source of the information before using it to make financial decisions.

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