Dave Ramsey is the perfect analogy of alcohol and credit cards. He thinks CC are evil. That's because he was burned by CC years ago. Like a recovering alcoholic, all he can do rants against his past addiction. Nevermind those who drink wine or beer or utilize credit cards responsibly.

@geraldopereira3917

5 жыл бұрын

@PennyPennyPincher Okay but why would you use money you dont have? People dig themselves into holes and the credit companies profit from it but they didnt cause it, they just put themselves in a position to make money off of people that where going to spend their money stupidly anyways. think about it, if the small incentives can cause you to spend way more than you should, that already shows you cant manage your money, so whose problem?

@ReMz10184

5 жыл бұрын

@PennyPennyPincher I would argue the opposite. If I have cash in my wallet, I tend to hand it out freely. If I start spending on my card, and I can monitor it online, I am more apprehensive. Example, I could blow through $100 in cash at a bar and not think much of it. I could blow through $100 at a bar and see the very next day on my online account. Major ouch. Regardless, I use my credit cards as vessels to earn some rewards. Pay them off immediately. Leveraging financial products and interest rates is smart money.

@RealityHurts923

5 жыл бұрын

PennyPennyPincher spoken like a true liberal. Blame everyone else. Bet you believe in a gender pay gap also.

@ReMz10184

5 жыл бұрын

@@RealityHurts923 It doesn't have to turn political. They are right in regards to the predatory nature of CC companies preying on the average (stupid) population. There is certainly a disconnect with the education system and financial responsibility. However, I hate being slumped into a box with the the "average" person. I can go get some beers with a client and have a great time while closing a business deal. The idiot at the other end of the bar 10 shots down spending his mortgage on whiskey is not the same as me. Is it the bartenders fault he is an alcoholic? No. Does that bartender have a vested interest in serving him alcohol to make more money? Absolutely. Gotta hold all parties accountable.

@chatochafa130

4 жыл бұрын

Fucker Dave Ramsay fucked me up. I’m 21 and heard his advice from a high school economics video day when I was 17. He convinced me through the video my teacher showed us to never ever get a credit card. I looked down on them for years. Now I see he was out of his mind to say that. It’s good advice for someone who can’t manage. But I’m saving and can do well getting a credit card. It doesn’t looks good as a 21 year old barely applying for cards. Keep getting denied when I feel like I would’ve easily been accept if I applied when I turned 18.

11 active cards 813 Fico score aged 10 plus yrs

@jonathant4280

5 жыл бұрын

@Enigma McC ofc he puts some of his hotel cards in the drawer

I currently have 12 cards. Sebby you have completely changed the way I use/think about my credit cards. I was a pay the minimum or a little more user. Now I just wait the 2 days for it to post to my account and I pay it off. The rep from Capital One said " We don't really like customers who pay the whole amount off" I laughed at her. Great videos. keep up the good work.

@OurDailyMeme

5 жыл бұрын

Val Hyman a rep said that? 😂 im dying after reading that, the truth 🕵🏻‍♂️

@jimmyschmidt14

5 жыл бұрын

The banks refer to people who have little debt as deadbeats.

@louib716

5 жыл бұрын

LOL she's right though. They hate responsible customers.

@crxracer805

5 жыл бұрын

They don't make any money off you so they don't like you lol. Btw, which Capital One card do you have?

@landocalrisian2014

5 жыл бұрын

Capital One didn't want to give me a CLI because they said I keep too low of a balance and the rep actually told me that if I used about 50-60% of my card they would seriously consider giving me a line increase. I was like, "I"m good".

I have a total of 5 credit card with a credit score of 786 and my oldest is 3-4 years old.

I have around 20 cards. My three scores ranges from 709-736. I've only had these cards for 2 years. That being said, none of them are maxed out and they carry zero balance most days. I normally have a balance of 1-2k each month before paying. I also just want to add that I check all of my cards once or twice a week. I have a journal where I record the balance and on which cards. It helps me keep track of my cards and I've never been late on any payments.

@elmerluzero3puertastechito501

6 жыл бұрын

don't they get cancelled automatically if you don't use them?

@elmerluzero3puertastechito501

6 жыл бұрын

H-town 85 yeah but, she would be charged interest, no?

@joef8487

6 жыл бұрын

myroom isverydirty most cards gives u 12-15month of free interest from day of opening

@charmandera5670

6 жыл бұрын

myroom isverydirty - she says she has a balance of 1-2K BEFORE PAYING IT OFF. So thats her monthly credit card transaction total. But she pays it off so she wouldnt be charged interest for it

@crxracer805

5 жыл бұрын

20 cards it's just too much. Much better to have like 1-2 premium cards (in addition to your debit card and an old regular credit card) and use those daily to maximize your points instead of spreading your expenses into 20 cards and not getting much from them especially if many of those cards have annual fees. Just recently I had only 4 credit cards the highest score I saw is 797. I've accumulated some debt and also opened a new account so it has dropped but now I'm making my way back up again.

I currently have 10 credit cards and 2 retail cards been working very hard to better my credit score thanks for your videos.

I currently have 18 credit cards, I use only about 5.

A good credit score will save you thousands of dollars ! I learned the hard way - teaching everyone I can to take care of their credit and pay their dues!! Good video !

@mercedeswilkins5566

2 жыл бұрын

And don’t let anyone else use their cc or get on it or co-sign for them

@markbeiser

Жыл бұрын

Even if you are one of those people that thinks they don't need a good score because they "don't use credit," you still need a good score to get the best insurance rates in most states...

Good stuff, Thank you

Ultimately I think it really depends if you believe your ability to pay off balance in full each month for each card.

Hi there .can you please make a videos on best credit cards and to to save money on Disney world vacation . Thanks

I have 12 CCs and I only use 2 of them. I wish I could close half of them without hurting my credit. I recently had a card close without notice due to inactivity so I guess I should start using them all, occasionally.

@AskSebby

6 жыл бұрын

Amazon Allowance for minimum transaction size.

@mace422004

3 жыл бұрын

I rotate my 26 cards by taking a different one each time for gas or groceries, save the receipt in my wallet, pay the exact amount a week after the charge, put the card back in the sleeve in my desk and take the next card and swap.

I have 24 accounts.

Awesome info.

Good Information!

I have just 2 credit cards, a rewards card and a regular platinum card with my bank. I just used them for daily expenses like groceries, online shopping etc. for more security than debit cards

Good info. Thanx

I am here to click the like button mostly. I love your video’s and skimming through some old ones. I recently got the CSP as well as the AMEX PLT. I got the Amex before really understanding the system you’ve been sharing. Now I’m trying to get the Chase “Three”. Thank you again for all your hard work on these videos!

Awesome video very helpful

You are Awesome and wise, Sebby !!!

Love the Highland Park whisky in the background :-) You should check out the distillery in Scotland- they really make it worth the trip. Also- great advice as always

Stop with the counter statements. Tell them to watch your other videos if they need more education on credit cards, don't accommodate the people who think credit cards are evil because they won't watch this video or even take what you're saying seriously. Keep up the good work! I'm working towards 10-15 total. I have no problem with more but I think 15 is more than enough for myself.

@OurDailyMeme

5 жыл бұрын

Zakeel Gordon not everyone is thick skulled. They could just be ignorant to facts and this could change their minds, like he did, mine.

Yes I enjoy your videos a lot. I currently only have 2 cards.. for a long time I thought credit cards were evil...lol so I would pay cash for everything. But as I am becoming more educated i am staying to understand. Thank you for the information. Would it be possible for you to create a video showing how to use credit to grow your wealth. I saw this on another youtube channel but she didn't really get deep into it. It stated out taking about how to pay a 30 year mortgage off in 4 years using a line of credit.

Hi Sebby , I am a senior in college pretty much watching your KZread channel I have built up my credit , currently I have 5 cards ( including csp and citi thank you card ) I have most of them for the sign up bonuses do you think I should downgrade on of them that as they have identical benefits !

I have 4 cards at this time...Two Mastercards, one Citi, one from Capitol One, and then I have a Chase Visa, and Discover it. I believe that it is good to diversify the Banks and rewards prgrams for benefits and also to use for backup. Since Visa, MC and Disc all run on different networks, I have to ability to chose other options if one of those networks go down....Also i only use two at time and keep the other two idle...keeping my utilization at about 5 percent or less.

@jimmyschmidt14

5 жыл бұрын

As long as u don’t go over 30% utilization ur golden.

About four or 5 cards I have. Thinking about getting rid of the bank cards and just keeping the credit union

Is it possible to have an Amex business card and a personal Amex card at the same time?

I have 13 open accounts 😅: Everyday use card, Netflix on 1 one card, Amazon shopping on another, Water bill, Comcast bill, and the other 8 cards are on Apple Pay organized so that I know which card I need to use at least once every few months or so. I always say that the setup process is the hardest and most annoying, meaning the auto pay and online banking, but once everything is set up and automated, you are good to go.

@JRCxyz

6 жыл бұрын

MasterJP28 Is there any particular reason you do this? O.o

@MasterJP28

6 жыл бұрын

No annual fee so closing out the accounts will hurt my credit aka keeper cards. The apple pay thing is for the cards that I rarely use but want to keep them open. Watch his video about building long term credit and you will understand why I do this lol.

@JRCxyz

6 жыл бұрын

MasterJP28 I see. Thanks

I am new to credit cards but, I am just curious, if you have a credit card you aren’t using but you still want to keep for whatever reason, can you spend like $1 or less every few months just to keep it active. (For example buy a candy bar with each credit card every few months to keep the card open) Or is there a minimum you have to spend on the card before it closes?

Fantastic explanation

Dont see a credit card as money u "have" see it more as a this is how much i can borrow cus regardless u have to pay it back

@alahjandrodagrate1611

4 жыл бұрын

Nah bro if I got $200k in credit I’m obviously richer than you. You’re just mad that you’re broke.

I got my first credit card 1 year ago and my second card is in the mail. Have about a $1,600 credit line and about a 720 score

I have 4 cards; one for groceries & gas, one for travel, one for everyday purchases, and one for military expenses. My credit has been between 750-780 over the past 3 years. I like to pay them off each month but occasionally I will carry a balance of about 1-2 thousand on my every day card. My combined limit is about $45,000 so that level of usage doesn't effect me much.

Does having more cards, mean more payments per month and per year, and higher fico points earned per year?

If you have the platinum amex card does it make sense to have the premier reward gold card

@namoakohene

5 жыл бұрын

Yes. DIfferent cards; different perks; different uses

Great tips! 30 cards yikes lol what on earth does your friend do 😂😂 I have the USAA AMEX and CapOne Quick Silver One cards as tools to rebuild after my bankruptcy in 2012; after being unemployed over 18 months. I hope to get the Chase Sapphire and Amex PRG or Platinum one day. #lifegoals Lolol I hear it's near impossible to get a regular AMEX after a Chapter7, what about the chase sapphire card? I use the alerts on my debit and cc set at $50. It's so helpful and I get text alerts a week before my bill is due

Great vid

Hi, Sebby - I have six cards and carry no balance, but was wondering if my total credit should be equal to, say, my annual income (which it now is) or if there would be any advantage to going beyond that.

I have 8 cards but 4 of them were my starting out cards with low limits on them like $500 dollars the other 3 have like $2000 on them is that bad to have that many cards ? Especially if I’m wanting to buy a condo

Hey Sebby I’m @10 or 11 cards right now In your rite on with Auto pay It is a jungle act but I keep balance low in yeah add gym or something so it show the card active in set reminders

What I would love to know is how do I protect a high limit card (Lowe’s $8000) that I hardly ever use. I don’t want them to lower my available credit, but I never shop there anymore.

Helpful.

6:20 This is my issue. Short credit history. Card 1:4 years and 7 months old. Card 2: 2 years and 8 months old. 0 hard inquiries. 660 credit score. Stick at that number for a year. How do I get to 750 and up? If I get an inquiry I lose points. If I get a new credit account I lose points. When my average length of time of open accounts gets lowered...I lose points. How many points will I lose? How long will it take to get them back? How long will it take to add 100 points to my score? Can I get a mortgage now, or should I wait for my score to improve?

Does having too many cards affect your credit score or your ability to get loans? I am 20 and have two but would like to add more. Also, is there a high benefit from having cards from different banks? Thanks and love the videos.

If you have 3 American express cards will all three show up on credit report or just one?

@dbdb72dh

7 жыл бұрын

GingerInJapan all 3

I have 6 credit cards right now but only use 1 because it gives the highest rewards. Is this bad I heard they will start closing themselves of I don't use them.

@AskSebby

6 жыл бұрын

Covered here: kzread.info/dash/bejne/Zmtk1ZhpdZjgmZs.html

I have been doing this for a few months now. Mobile apps make it very easy.

@jddiggy2343

3 жыл бұрын

Exactly I feel like back in the day when my mom had to call the service line to check her balance and pay her balance was much more of a Hassel but in a smartphone age it's ridiculously ease to go through and check them all and if you the same issuer for most if not all of them it becomes even easier because if it was all of them then it's just one app your logging into or at least a small handful.

Started a credit rebuild last year with 2 Cap One Platinum cards and a Cap One Buypower card and that was it just those 3. After working on repairing my credit for the last year I'm up to 18 presently. Yes thats a crazy number but it includes a bevy of store cards, that are rarely used just a small purchase here and there and that were mostly obtained to keep my overall utilization down if I didn't PIF before my statement cut and a couple of sock drawer cards. If we're just talking cards I actually use the number is actually 8 with a mix of 5 revolvers and 3 store cards. I know my number seems high but I'm very careful to spend only within my means and pay in full every month unless my card has a 0% intro rate and I want to give myself a month where I make a higher than minimum payment but leave some balance to kick some extra toward my savings account that month in addition to what I normally do and then pay it off the next month. I also don't usually make extravagant "treat yoself" purchases but if I do on the rare occasion I make sure that it PIF to avoid the headache. I'm just trying to work on rebuilding after being stupid with my credit in my late teens and early 20's. Also some of those cards are from the same issuer and will eventually be combined when the time comes so there is a plan in place that will eventually lower that number a bit!

@ronnieterrellwilliams5978

2 жыл бұрын

Treat Yoself!

I have 9 cards. 1% utilization. 100% payment history. My credit score was 848 before I bought my house and a new car. It's now 814. When I make a purchase, I make a payment as soon as its posted to the account. Which sometimes takes a few days to clear.

@TraderDT

4 жыл бұрын

FarFromPukin - U play this 'cc' game like a BOSS! Very inspiring.

@FarFrom_Puken

4 жыл бұрын

@@TraderDT thank you. I wasn't always like this. The key is to treat your credit cards as if there cash. if you dont have it, you cant buy it. Instead most people including me for a long time thought oh ikk just charge it and pay it off later. After a few large purchases then what you can afford, now your trying to play catch up forever

@TraderDT

4 жыл бұрын

@@FarFrom_Puken Bro, very inspirational. I'm stuck at 720, trying to get to the 'next' level. Few questions if u don't mind: 1) How did u space out your credit apps to manage hard pulls....2) Once u got serious with this game - how long did it take for u to break 800+ and 3) what's your average account age? Bonus question: Are u done acquiring cards or are there a couple more out there u will be going after?. Thanks :)

@FarFrom_Puken

4 жыл бұрын

@@TraderDT 1) well if you keep opening new cards your history is always gunna stay low. I dont plan on hopping around with new cards all the time. 2) to go from 589 to 720 took me about a year of paying off debts. Then to get over 800 with no debt with minor purchases that I could afford it took somewhere around 6-9 months. To be honest anything over 720 isnt much of a big deal. Like for example when I bought my last car it was my first with with good credit. And I was only classified as tier 1 which 720+ so my 848 didnt matter. Just my debt-to-income % and 720+. 3) my average as of right now is around 6years my oldest car is nearly 12yrs old. I rarely use it. I rarely use most of my cards. Only use a few the rest I make about 1 purchase a year on them to keep them open. And a purchase may just be a tank of gas. Or if it's a store card I'll get something on sale that's cheap that incan easily pay off with 1 payment

I'm up to 3 cards (going to apply for two more) low utilization and not carrying a balance at the end of the billing cycle or keeping your balances very low is the key

@larrydeleon4362

4 жыл бұрын

Thekeyman1 if you don’t mind me asking. Why do a lot of people have 3+ credit cards? Won’t the banks close the account and lower your credit score?

I was at 750 with 1 cc (15 yrs)...just got a 2nd cc in December. LOL.

Hey Sebby, I currently have a discover, amex, and Citibank card. In addition I have a best buy and kay jewellers cards that I haven't used in years that I wanted to get rid of. Can I do this without hurting my credit? Those cards have $0 balances.

@AskSebby

6 жыл бұрын

Just automate the cards. Canceling won't hurt right now, but it'll plummet your score once the card drops off your report (closed cards stay on for 7-10 years and keep aging your score -- a good thing).

@Pharm213

6 жыл бұрын

Ask Sebby thanks for the quick reply! I'm a new subscriber and I've been really enjoying the information you put out. I didn't even really know about the quarterly rotations until you pointed them out. Feels like I've been living under a rock.

I am 26 and have 2 credit cards. I keep them paid off, and I am about to get a third. I always go for something that I can use month to month and get points (gas, groceries, etc.). Additionally, I usually get a new one if I am getting a new bike. Most cards have a signing bonus that I will reach by purchasing my bike. Generally I get around $250 as a bonus towards paying off the bike. The key is to just already have a large chunk of change in your checking. Has worked well for me.

I opened 3 cards and my score dropped 100 points. Can you tell me how long it will take to go back up if I keep them paid under 10% and always on time?

@colin1818

3 жыл бұрын

The hard inquiry will stay on your file for two years. But supposedly it stops counting against your score after the first year, even if it still shows. The other major factor is what those new accounts did to you average length of history per account. If it dropped that number substantially then the combination of those things will give you a temporary dip.

i have 39 credit cards i used some 1 time others have not used and some just paying off..

Kavalan whiskey in the background!

I think 2 or 4 cards sounds ok if you don't spend as much

this was great

I like the idea of paying off your CC at the end of the day, and I've considered doing this in the past, but my mom told me that could lower my CS. Is this true?

@mikeo763

6 жыл бұрын

Jamie Jean-Louis having a zero balance will increase your score, so keep your balances as close to zero as possible.

@anthonyd1197

6 жыл бұрын

banks report to credit bureas of your balance after the statement period. if you have zero balance in your statement then its hard for the bureau to see how effective you make your payments. your credit doesn't lower, but its not growing as much as it can be. my suggestion have 2 checking accounts, one for all your money, one for you to transfer money. transfer money from one to the other as if you were paying your credit card at the end of every day, wait for statement to close, pay off in full 1 or 2 days after statement posts.

Hi Sebby, what do you use to edit your videos?

@AskSebby

7 жыл бұрын

Sony Vegas.

right now I only have 2 credit cards , I'm applying for a home loan next year so I don't want to apply for anymore credit, I might do 1 more card not sure yet

@AskSebby

6 жыл бұрын

At a minimum, don't apply for cards 6 months from mortgage shopping. Ideally, stop 12 months before.

@watsonanthony8438

5 жыл бұрын

1 or 2 could raise the score

My oldest credit card account is from a local furniture store in another state that I haven't lived in for a few years. Is there a good way to shift it from being inactive?

@AskSebby

6 жыл бұрын

www.asksebby.com/blog/how-often-should-you-use-your-credit-cards-to-keep-them-active

I have about ten right now. I'm currently shopping around for like three more

I have two credit cards. Only other active debt is my mortgage (which should be paid off this year). 836 credit score. Lots of debt and/or cards is not required to have a ridiculously good credit score apparently.

I have 4 credit cards (23 years old) I use them only buying stuff under $20 because I know I'll be able to pay that off. Usually I use my cards once a month pay it off in full and wait for the next cycle.

Hey guys just got my first secured discover card to start building credit in February and I just received from discover that my FICO score is 734. Does this mean that i can start applying for different credit cards or with my credit history only being 6 months old still to new to apply for cards like the citi double cash back and other cash back cards?

@AskSebby

7 жыл бұрын

You should be fine for the Double Cash and other entry level cards. You might want to consider Chase's 5/24 rule though. Chase 5/24: kzread.info/dash/bejne/qqiLmq-qnNaegpc.html Citi Double Cash: kzread.info/dash/bejne/X6mJtsyuparfhs4.html

@leowilliams6939

7 жыл бұрын

sad face didn't get approved lol

I have 4. All have no annual fee. People paying annual fees on 10 cards are spending $500 or more a month on these annual fees.

I have 8 CC and pay it with autopay. It’s all a matter of good income and responsible ownership.

Got 4 cards, credit is about 1 year old, 740 fico, I'm 20 years old, I wanna apply for a Premium card like the sapphire Preferred but I don't know if I'll get approved for it :/

@nomanalomari

7 жыл бұрын

am 20 years old with amex platinum and sapphire reserved and 10 other cards

@jonhsmith6492

7 жыл бұрын

Noman Alomari that's very impressive, I guess I'm gonna give it a shot, I have a decent 42K income so a 5k limit on that one shouldn't be a big deal hopefully

@nomanalomari

7 жыл бұрын

Jonh Smith I believe if your under the 5/24 rule you'll be fine

@marcgarcia2082

7 жыл бұрын

Noman Alomari same here

@anirudhs9200

7 жыл бұрын

I got rejected with a higher score than yours. A friendly neighborhood Chase banker came to my rescue

I have a lot of cards now. I want to start getting rid of the rebuilder credit cards that charge annual and monthly fees. But those cards account for a lot of age.

I have 8 credit cards total. Visa, Mastercard, Amex, Discover. 2 of each. I do want to get a business credit card so I can start my own business.

@colin1818

3 жыл бұрын

Maybe start the business so you can get the credit card and not the other way around.

I always pay off my cards either as soon as it posts, every week, and in more rare cases more near the due date. Regardless it will always be paid off. I also love using Credit Cards because I know ill always get at least 1-2% cash back and I view it as discounts every time. I'm never going back to using Debit cards unless I for some reason have to go over my limits, but even then Charge Cards exist.

Hey Sebby, have been a near daily watcher for awhile now and really appreciate your content. I'm curious what your thoughts are on creating a video breaking down a static credit card breakdown of payments to maximize returns (almost an anti-churning video). Example being: gas card, grocery card, utilities card, airfare card, hotel card, monthly bills (internet, mobile phone). May not reward as much as churning would, but very easy for someone to signup for a handful of cards at one time and maybe receive an overall 4-5% return. Thanks!

Hey Sebastian. Credit Karma uses VantageScore which isn't used by that many credit card companies. Most use FICO. If you're really interested in the nerdy details of credit scoring, watch videos by John Ulzheimer from creditcardinsider. His hour long lecture to students is a good primer.

@AskSebby

7 жыл бұрын

Definitely. I think Credit Karma just makes it easier to understand as a starting point for most people (easiest way to dispel misconceptions). The main issue with VantageScore, from my experience/understanding, is that it weighs inquiries too heavily. i.e., 775 score in real life and 725 on Credit Karma.

I have 20 to 25 credit cards and a few loans but with a salary of $1,500 approximately the bank doesn’t approved you for any auto loan because they recommend that hey I know you have credit establish but you have to close like 9 to 12 credit cards so I can approve you the new car that you want because in some states and even territory outside of the US like Puerto Rico even if you have 25 open credit cards and in $0 balance they will consider first the entire utilization of each card even if it’s in $0 for months so that’s why those banks recommended to close 10 cards than we talk about your new car loan.

1 card at 793. Don’t feel like playing the game, but it’s tempting...

Can you do a video on applying for more then one card within the same day and how it would affect your credit score???

@AskSebby

7 жыл бұрын

Application = hard inquiry + new account (total accounts + lower AAoA). With some issuers like Chase and Amex, you can combine pulls. Any other details I should add to the video? Good topic idea :)

@tdesert1516

6 жыл бұрын

Ask Sebby how do you combine pulls?

MKBHD!

My number is currently 5, but will be 3 in about a year as I plan to close 2 of them. I feel that the 3 cards I have, and use regularly, cover almost all of the categories I spend in, and I much prefer the simplicity. 30 cards isn’t an option for me because I don’t use auto-pay as I’m a control freak, and I don’t want any money blindly leaving my checking account. I keep receipts and review all my statements with a fine tooth comb.

It only 4 main payment networks 1. Visa 2. MasterCard 3. American Express 4. Discover. And 100s of banks and Credit Unions out there. It pointless to have more than 2 of the payment networks in ur purse or wallet. I only got 6 that all I need. Don’t get caught up in the hype.

My Credit score was at 565 June of last yr an went to a 704 an now it's a 698 score

@watsonanthony8438

5 жыл бұрын

I think the balance flucuate the score

@deangelo17

5 жыл бұрын

How many credit cards did you use while rebuilding?

I manage pretty good 70 cards

I have 2 cards looking for a 3rd one. I’m thinking the Amex gold card. I have a credit score of 765.

@user-sh8kc4kz2h

2 жыл бұрын

I love my Amex gold card. Easily my favorite card. Definitely get it. You get all your money back and much more. You get $10 credit a month towards shake shack, Ruth Chris, or Cheesecake Factory. Thankfully i love right next to a shake shack so i use it every month. You also get a $10 credit for Uber eats, which you can just do pick up and it’s the same price. So that’s already $240 in benefits. And you get all these special discounts and more. I just got the chase sapphire preferred, mainly for the 100,000 bonus sign up points. So the chase sapphire will be my travel card since i started traveling more recently

I have 11 cards, but only actually use 4 of them, for cash back bonuses. The rest all have my KZread channel memberships spread out between them, and all of my cards are set to auto pay the statement balance every month.

21 credit cards, with about $110k in unsecured credit. Minimum wage part time job.

I have about 5 right now 2 freedom (one i product changed from slate) 1 freedom unlimited, 1 discover it that I product changed it to discover miles, and 1 spg. My future card debating between gold premier rewards with 50k of chase sapphire reserve. I think I'm going to hold on reserve for now just because I'm still hoping for bigger sign up bonus. Hopefully even with 75k would be good. I would love to get the platinum but just its points sucks. Btw my oldest credit card was 2 years and 9 months

@AskSebby

7 жыл бұрын

I would do CSR first due to 5/24. I do NOT see it going to a higher level (CSP started at 100k too and has been steady at 50k). More on Chase 5/24: kzread.info/dash/bejne/qqiLmq-qnNaegpc.html

@californication1992

7 жыл бұрын

Why did you product change from the Discover It to Miles? I personally have the Miles and feel like I should have gotten the IT instead. Unlike Chase, there is no redemption program where the points are worth more than face value. 5x in categories in addition to 1x seems better than 1.5x across the board. And they both have Cash back match after the first year. That's just my thought on the Miles. I kind of feel like it's a waste.

@sunnykhoja7932

7 жыл бұрын

Ask Sebby the only reason I did the product change it's because next month I'm taking a trip so miles would give me $30 for the inflight wifi or any other thing. And tbh I don't even use discover it's because I'm just trying to collect more chase ur so when I do have the csr it's easier for me to redeem them. I have about 100k in chase ur. Transferring my mom's ur every now and then. And I just recently got freedom unlimited with 30k ur with only $500 in spend so since unlimited if just 1.5% I just have all the automatic payments running through that card. And all my bonus categories goes on freedom and all non bonus goes on spg

@sunnykhoja7932

7 жыл бұрын

californication1992 Ask Sebby right now I'm at like 3/24. I really would love to have the ink preferred but that need quite high credit score so hopefully till then.

@sunnykhoja7932

7 жыл бұрын

Ask Sebby also I'm pretty disciplined about my spending habits. I'm kinda having hard time debating between csp and csr. Also I go out every once in a while. And the only reason I want one of those is just to transfer points. I care less about the perks like lounges and all. I hardly go out in for a trip once in a while. The only reason I wanna collect points it's because I'm doing everything so I don have to spend slot of money during my honeymoon. Also I'm leaning more towards gold premier Amex because my gf will soon come to maybe in California for studies so I can spend on flights and collect Amex points. I wanna get your opinion about this and help me decide.

I have 17 and agree how many you should have is an individual thing. I want to get to at least 21 which as you mentioned you need from Credit Karma to get excellent in that category although I doubt it does much of anything for your FICO score. I know as long as you pay them on time and in full it won't hurt your FICO score. One factor to keep in mind though individual credit card issuers can have formulas saying someone with 20 credit cards has too many regardless of your utilization and payment history.

@imperium2000

7 жыл бұрын

Steven Miller FICO gives you higher points for more accounts. VantageScore will start to penalize you when you get too many accounts.

@AskSebby

7 жыл бұрын

From my experience with most issuer, the main problem isn't number of cards per say, but total credit available. 20+ accounts and 50k credit limit vs. 20+ accounts and 150k credit limit. I would be more concerned with the latter. I use Credit Karma as an example because I think it's the easiest way to understand your score as a starting point, but imperium2000 is right in that FICO is the score that matters (no banks really use Vantage right now). More accounts is still better though.

@stevenmiller7747

7 жыл бұрын

Ask Sebby maybe I didn't word my comment very well but you pretty much just repeated exactly what I said. I do want the 21 accounts because of the Vantage but the only score that matters is FICO.

Very nice explanations. Credit cards are very helpful but you need to be responsible not to abuse it.

28

A perfect credit score doesn’t mean anything if you don’t have the payment history to back it

17

My number used to be 1. Put everything on Citi Double Cash. Now, I’m switching my focus to travel. Getting my Chase Trifecta established, will keep Citi Double Cash, and the Marriott card. So my new number will be 5.

@AskSebby

6 жыл бұрын

You might want to PC your DC to a Dividend (5% category card).

Anything more then one card is too many. Have one card for 14 years with a 65k limit and EQ of 835 and TU of 819. Had the card from high school to now.

Eight to ten Credit Cards,: easy to set "Autopay" -- no problems w/ over-spending.

@RichardServello

3 жыл бұрын

Autopay is the best way to go. I just use my cards like cash and have them all paid off at the end of the month..so rather than my bank balance going down gradually they go down at the end of the month by the same amount.

20 years old my credit score is 785 how can I hit 800

I have 3 an Amex everyday..... an chase freedom and unlimited and hopefully a sapphire soon. I feel like 3 is too many for me at 19

@AskSebby

5 жыл бұрын

www.asksebby.com/blog/why-i-have-10-base-cards-for-my-credit-history

10

My (current) number is 8, which includes 3 annual fee cards.

I have currently 21 cards. I pay them off as soon as I use any of them.

@ask sebby for ME personally ONE is all I'll ever need & that's ALL I want is ONE

@devinisreal9356

4 жыл бұрын

shaleknight 62 which card do you have for your one?