💪 [ 2023 Update ] 30-Day Credit Challenge is no longer available. New updated 2023 improve your credit video: kzread.info/dash/bejne/X6ets7V-iq3LiLA.html 💳 See Sebby's Card Picks: www.asksebby.com/go/topcards

@emvee5321

2 жыл бұрын

Hi Sebby! What should I do on the charge off accounts? They’re all closed but still showing past due balance. Thanks in advance!

@theoperator9474

2 жыл бұрын

That was a great video. 👍

@staciramos6658

2 жыл бұрын

Score is 530 and I think what's holding it back in late payments negative marks and collections closed acts and past/present utilization. How can you help?

@staciramos6658

2 жыл бұрын

@@emvee5321 did you ever get an answer?

@IAMKESHIAB

2 жыл бұрын

@@staciramos6658 Start By Bringing Your Accounts Up To Date

I often watch your videos and have learned a lot. I went from not having a credit card more than a year ago to having my first card. a Discover It card. I recently got a credit increase about little more than a month ago and went from an initial $3,500.00 limit to a $6,0000.00 limit. I tried for a limit increase at about 8 months of having the card but was told I had to wait 1 year so I did. Kept my credit utilization around 12% and got accepted. I felt so accomplished Now I want to get my utilization down to under 5% before applying for my next card. Thank you Seby

@betonblack3621

2 жыл бұрын

I’m working on my 5 card rotation As we speak then I want to get it to 10 eventually

@LiveLoveLaugh_44

2 жыл бұрын

Congratulations sir

@gtjovan

2 жыл бұрын

💪🏾💪🏾

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 360-768. He helps with credit Repair

@ericnorthman3063

2 жыл бұрын

@@betonblack3621 I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 360-768. He helps with credit Repair

Most people focus on credit score, but your income is also another big factor. If you have high credit score but low income you'll have a hard time getting a loan as well.

@TheEnphamus84

2 жыл бұрын

facts bc this is my problem but not for long!

@niamassey4100

2 жыл бұрын

Omg why

@curiosityredpill7030

2 жыл бұрын

@@TheEnphamus84 true

@milojayjay

2 жыл бұрын

I think it’s more debt to income ratio. If your income is decent and you have no debt, you will be approved. Obviously they’re not gonna give you a loan that’s way out of your budget, you should consider if it’a smart to even do so.

@06jsil

2 жыл бұрын

I know people who make 30k a year and was able to get a 300k home because they had no debt, credit was 700+, and they had 20k down

I just crossed the 750 credit score threshold. a few things to keep in mind: 1. Pay your minimum payment on time. 2. Stay away from store credit cards, the interest rates are killer and that little bill becomes a big bill when your sit down and add all of your debt up. 3. Make sure you have a credit card that is working for you (miles, points, cash back).

@sweetlifeofHoney

2 жыл бұрын

Chime credit builder helped me rebuild my score higgggh, like750 and i go and charge it up.... Omg but i did open a few cc's ...... But im going to work hard to get ot waaay back up again

@sweetlifeofHoney

2 жыл бұрын

Youch but my interest rates are sooo high

@soleilwhitton6397

2 жыл бұрын

@@sweetlifeofHoney If you are making your payments on time for 1 solid year, you can negotiate a lower interest rate. But do whatever you can to pay off your debt. When you owe someone, they take your financial future. You can make it without cc's.

@VisualDisplay07

2 жыл бұрын

What rappers didn't tell us about other people's money is how to make it work for us! I am adamant about miles, points, and cash back now more than ever and have a plan in place to ensure my monthly balance is under 10%. Mostly, it's not charging more than you know you have in cash to cover the expense. It's also having emergency savings so that your first inkling isn't to 'charge it' and worry about expense later. Without a CC, I discovered more resources for paying off past due amounts than I had when I defaulted to CCs to live. May we never be subject to the lender again, amen?

@Lionheart_He-Man

2 жыл бұрын

Correction on # 1 Pay your entire monthly balance….EVERY MONTH in full. There, fixed.

We paid off our mortgage and took a 100 point hit to our credit. This portion of the credit scoring system is broken.

@gsawnv

2 жыл бұрын

@The Tranquil Heart yes. Counterintuitive but true. The payment history, balance, etc vanishes when the loan is paid.

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair…

@listeningviayoutube7229

2 жыл бұрын

Terribly broken...Smh

@so.many.obstacles

2 жыл бұрын

Yeah I paid off a personal loan and took a hit. I’ll pay off my car note this year and I know the drop will come again.

@liztaylor85139

Жыл бұрын

My house is paid for and I get a negative hit because I DON"T have a mortgage! WTH??? Same with my car. I have 3 payments left and when it's paid for? It will drop as well. It's just a way to keep you in-depth!

Is anyone else shocked by the average US FICO of 711?

@jac3744

2 жыл бұрын

Yeah! i expected a lot lower.

@kingznqueenztv

2 жыл бұрын

More like 511…

@listeningviayoutube7229

2 жыл бұрын

Yes, I thought it would have been in the 500s or 600s.

@timothyflemingphotography

Жыл бұрын

@@kingznqueenztv because most people like yourself focus on the lowest common denominator.

@kingznqueenztv

Жыл бұрын

@@timothyflemingphotography Which is???

Been in that situation where I had to live in a lesser place because of credit score. Its crazy how bad credit can affect you and in how many different ways! Great topic!

@amyzieger5198

2 жыл бұрын

well welcome to the real world sir! there's people from all walks of life with this problem. nd just because you have a lot of money, some of these people has bad credit too! they spend nothing but cash and will not take the responsibility to pay there debts either!!! Lets get with the program and the real world sir!!

@lilliandadon9048

2 жыл бұрын

@@amyzieger5198 their*

I've finally after 5 years, got all my scores above 790. I started in the 630s in 2017 and now my highest score is 807 and lowest 796. It was a slow but steady race and I definitely feel good at this point knowing I can get great rates on anything.

@bayborn510

2 жыл бұрын

how many credit cards did you have at a time?

@landocalrisian2014

2 жыл бұрын

@@bayborn510 I believe in 2017 I had roughly 3 cards. Two of them had low limits.

My mom doesn’t even try to increase her score. She got 2 credit cards and the only reason she got them is bc she doesn’t want to use her debit on purchasing stuffs bc she’s afraid of getting her debit hacked. Her credit is like ~650 or something😕

Usually, my score is in the lower 700s. But, right now I just moved/bought a house. I have had a ton of extra expenses, and my cards are loaded. So, my score is way down. It'll take me a little time, but I'll get them all paid off, unless something really bad happens! Score is around 648 now.

@pacs0508

2 жыл бұрын

At least you have a place to live and time to work on the other. Congratulations! 👏🏽🎉🎊🎈🏆🏡

@chrishoffman8600

2 жыл бұрын

@@pacs0508 Thanks much. Yeah I didn't end up where I wanted to be house wise, but should be good once can get settled in. It's unfortunate that I had to buy at the worst possible time. But, like you said....glad it all worked out. :)

@rival989

2 жыл бұрын

I thought the recovery period was 3 to 6 months, for your scores as long as you don't miss payments?

@landocalrisian2014

2 жыл бұрын

Think positive!! Congrats on the house. Your score will rebound.

I was surprised by the inquies portion not being too bad. Because when i first started rebuilding my credit, my score would take a 40-60 point hit per inquiry. It made me pretty reluctant to apply for new cards. But now with my credit history built up, my score literally only dropped 1 point for my latest credit card application 👍

Actually scores don't matter much above a 750 if your not going for a mortgage or an auto loan. Just make sure you balance under 10% before you need a big purchase for a home or mortgage. Once they all report that zero balance, the next month your scores are up

@Nofacenocase1619

Жыл бұрын

What about for a personal loan or a business loan for cash???

My TransUnion score is 735 and my Equifax score is 654. Why is there such a big difference between the two?

@drobins1985

2 жыл бұрын

It's called control.

@DK-qd8yj

2 жыл бұрын

some trades report more to one bureau than the other (common to have discrepancies); same thing with collections, judgements etc some will report to only one credit bureau as well

@maude135

2 жыл бұрын

Depends on where you look. Look to see is the scores are VANTAGE score or FICO score. FICO is lower. FICO is also the one that lenders use.

@alaskanwhiskey

2 жыл бұрын

​​@@drobins1985 agreed. at 534 for my morgage score but 618 in my middle score via fico. wtf man. Definitely broken.

Hey Sebby, I hit 800 credit score this year .. also got my first chase credit card.. Thank you for all your videos..

It's weird because when you get 830 credit score you get denied.. And I said I got a 830 credit score they said that credit score has nothing to do with approval process....unbelieveable..

@DoorDashers791

2 жыл бұрын

@@lucyandmark2117 thank you 😊

@sugarandspice2136

2 жыл бұрын

I believe it, it's true.

Another quality video with good information. As some who has made a career in the financial sector for close to twenty years, I appreciate people like you with a platform trying to educate individuals on credit. Doing it for free on KZread, and only charging eight bucks for your boot-camp shows your heart is in the right place. I find it astounding that personal financial management and credit isn’t a standard class in our formal education system.

@AskSebby

2 жыл бұрын

Thank you! I appreciate that :)

Wow look last month my credit score was 789 . This month Discover it statement 814. I feel so good, I’m helping my best friend build her credit now. Im so proud of myself, all self taught

I just opened a new line of credit and my credit score went down by 13 points. It doesn’t bother though because I know in a couple of months I should be at 820+ or at least I hope. Lol

@michaelreid8857

2 жыл бұрын

Normally, it will take about two months for the algorithms to digest a new account! Three months ago I got three new accounts in a 20 day period. I’m still suffering from that! 😳😳😳😆😆😆

@michaelreid8857

2 жыл бұрын

@@user-ub8mo7dr6c there are many factors used in computing your FICO score. Yes payments are important, but also utilization , history, mix and inquiries!

My credit score took a big hit recently because I bought a house and my student loans reflected my credit score at the same time. Im trying to get it back up to the 700s, but im stuck in the 650’s

I just watched your video on how to boost your credit score 100 points in 7 days and I liked the info about paying a card down to 2% to get an on time payment. I was going to pay down the balance to 30% or even paying it off but paying it down to 2% and getting the on time payment makes a lot of sense. Thanks Sebby!!!

Part of credit mix could be the number of active cards in the last six months for FICO as well.

My cards are in a rotation to use each card every 2-3 months, some report a small balance and others get paid before reported. My score is bumping along like stocks with a stable company. My utilization is an average of 1% reported and on occasion get a single card above 9% and see a dip in the score. This is whats working for me with revolving cards and an installment loan, all in good standing.

I have a 776 with 1 inquiry, avg 4 years and 6 months history, no late payments and only 9% utilization. Im thinking about getting the Amex Platinum card becuz I plan on making a big purchase, use the global entry credit, and go on 2 vacay in 2022. I also want to ask for a credit limit increase in my NFCU Platinum card from $14,500 to $20,000 but this will result in a hard pull. Should I apply for the Amex Platinum first or ask for the credit increase on my NFCU first?

@michaelreid8857

2 жыл бұрын

Dude with a 776 fico your sweating one inquiry? 🤔🤔🤔😆😆😆😆 It won’t matter, but if it puts your mind at ease. Your score drops further with a new account. So credit increases first, then new account! You easily can afford an inquiry every 60 days with that awesome score. Colour me envious!

Okay SERIOUS question I been having about credit that I can't seem to find an answer to. So I hear a lot youtubers talk about "only use about 30% of your cards total" because using any more makes you seem "high risk" which slightly hurts your credit score. However, what I want cleared up is: say I have a $1000 dollar secured credit card, I make a $800 dollar purchase on it however, I make a $600 dollar payment towards my debt before the end of the month therefore leaving my total under the 30% mark, and i finish the payment off in the 20-25 day due date. With the context out of the way,, My question is: does it matter how much of the card you use if you're able to pay it all off within a single billing statement/month? Or should I ONLY use 30% (so $300 dollars) of my card until I get an unsecured card and build my limit? Sorry if it's a dumb question, I'm a 19 year old that's about to get my 1st secured CC and want to make sure I'm well informed b4 spending.

@Jo-go8uj

2 жыл бұрын

WAIT I think I understand but I want to make sure I got it right. So, I CAN use like 80% utilization on a purchase as long as I pay off enough to where it's below the 10% utilization rate when they "take the picture"? So then all that matters is how much you owe once that report goes through? As long as you lower the 80% utilization down to about 10% or lower before the report gets sent? Am I understanding this correctly?

I used to have 10 credit cards but if you don’t use them (alike TJ MAXX, Pennys, sears). They seem to cancel you. How to you manage to use 30 credit cards? What are the rules, do you have to use the card annually or quarterly or monthly to keep the account active?

Great video! Honestly this is a great topic to redo as it does change yearly! I think credit is one of the best tools that everyone should know about, literally a credit score could make or break a person's opportunities! Not growing your score could literally cost you thousands, especially because of missing out on low APR rates or even loan acceptances! Keep up the great work as always Sebby!

@AskSebby

2 жыл бұрын

Totally agree!

@JacobKustra

2 жыл бұрын

@@AskSebby Hey! In case no one has asked yet, how's your day going today?

You pay $8 for a cup of coffee in SF? Oh my!

Yeah Landlords are shady with that because they don't need to but they like to bully you because they see you are new to the game. It is ridiculous on how many types of shady things are out there from landlords that you need to basically take them to court.

@cryptocrack2682

2 жыл бұрын

That's why it's usually better to own your own home.

Didn’t know about leaving a few dollars on the card so that the scheduled payment still goes through. Great tip! I’ll have to test that to see if it increases my score more.

@liztaylor85139

Жыл бұрын

I thought the same. I thought paying them off every month was better. Now I know to leave a little balance on them. let's see how this works out. How did it work for you?

I like the hat. Keep it in the future videos! My score got hit from doing several mortgage loan applications. I applied for almost every month for a year and the hard inquiry dropped my score from 790 down to 713 for one issuer. I was told the magic number to stay above for the best rate is 740, so that is to be considered while buying a house. I also applied for a credit card during the loan process and it did it effect my mortgage application. As long as you have a strong base of old cards you can still apply for new cards. One year with the dust settle my score numbered back up to 740-780 depending on the issuer. With the hard inquiries falling off next year I’m hoping to join the 800 club due to adding more credit and more older cards.

@rodrigosanroman5858

2 жыл бұрын

@@o.c.g.m9426 Hum. As a loan officer at a major bank... The loan issuer most definitely added points or some sort of closing cost to get you that rate with your kind of score. Meaning you definitely paid higher closing cost and the loan officer just lowered your rate manually just enough to make it look good, but you definitely paid for it. Unless you agreed to something less than 30 years.

It's actually pretty surprising how much of the information that I already do without noticing, Im 19 and in college and was able to build up my credit score to about 750 (my parents didnt have me as an authorized user either). My first credit card was a Discover student card and i had been approved for $1,750 and then they gave me an increase to $2,100. A year later i applied for a second card which I was approved for $750 and then was given a $4,000 increase, I've watched alot of these types of videos and it feels good knowing im doing everything so far right.

@landocalrisian2014

2 жыл бұрын

Keep up the good work!!!!

Wait your caption says how to raise your score in 2022. But your intro says 2021? 🤔

How can u get things removed from your credit report if you really do owe them the money???

I started with a chime secured card & held it for 8-9months. I also started seeing card offers afterwards. Merrick Bank was the first & i never even heard of them. They gave me a $700 limit, waiting to double by august. Credit One shown up next, Avant, Aspire & Verve soon followed. 3 major milest later hit which was Discover, The Home Dept & Citi, adding $9,500 combined limit. The inquiries may be high & the history is low for now, but as long as you dont use the cards much & keep the payments low, your score will skyrocket. I hit more milestones than i could count adter having bad credit for so long. I thought i throw my hat in the ring.

I have some late payments on one account in mid 2020. Is time the only way to correct this?

@craigmilner910

2 жыл бұрын

Do you still need help with this.

Using your example, is there any benefit in leaving $2.50 as your credit card balance on 'picture day' versus just leaving $1.00?

@michaelreid8857

2 жыл бұрын

Not really. Try and not exceed 5% utilization!

@Meyouletsgo

Жыл бұрын

1-2% utilization is key !

Is it possible to get a low 700 score if you have over 90,000 in student loans?

@supitschillbro

2 жыл бұрын

Yes, that was me 2 years ago by making sure my utilization on credit cards was low single digit percentages, paying off in full every month, and not applying for too many too fast

How do I get my picture date ?

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair

@craigmilner910

2 жыл бұрын

Buzz me up.

I bought 2 beds under a lease. Then bought my wife's 1500 and 1800 dollar ring. Then rented for a year Then leased out my phones and tv. My cscore is bonkers

I work with people and their credit history every day, and almost NEVER see a score over 650.

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair

The amex delta platinum has 90k sign up offer.. do you consider this a no brainer keeper card for domestic travel?!

I've been on disability for 16 yrs haven't done anything for credit I had 4 items over 10 to 15 3 have been removed 4 in process of being disputed. Other than that i have nothing on credit score . I haven't had a house paying rent in over 10 years until August last yr I was homeless for the 5 yrs before . Friends have been letting me stay with them since then. I have had 4 SSD checks in 3 yrs they owe me for the remainder 8ve been waiting on that. My issue is no credit and noone wants to rent to me. Im trying to get a loan or credit cards to start rebuilding my credit. Noone will give any and I don't have money to do secured credit cards . What , if anything, can I do?

@rickmiles8520

2 жыл бұрын

@@krollbrian1360 how he charge u?

@rickmiles8520

2 жыл бұрын

@@krollbrian1360 I would have to talk to him and figure something out because I have 0 cash on hand. Just wondering how much was it?

@rickmiles8520

2 жыл бұрын

@@krollbrian1360 ty for letting me kno

@rickmiles8520

2 жыл бұрын

Btw whats his name

@rickmiles8520

2 жыл бұрын

@@krollbrian1360 I messaged him

I’m still kind of annoyed that my Credit is barely hovering over 700. No debt with a house and making payments on a car that has 0% APR (Toyota special). And pay off my cards in full after the statement balance is closed with 15 CC. Never been late and all that responsible stuff. Maybe my annual income isn’t high enough?

@913Z06

2 жыл бұрын

The car is new credit. Dropping your oldest reported credit age. Credit utilization is low because you don't show a small balance on a C C. Must be kept under 10% of your credit limit. Charge something like 5 bucks on all the cards and let them report. That means after the statement date closes. Then pay them off 5 days after the statement date. Give it a try for a couple months. And watch it jump 10 to 30 points

@csmajor6141

2 жыл бұрын

You have to start leaving a balance less than 10% in the credit card before closing date. In other words, make sure your bank reports to the credit bureaus that you used 10% or less during the month.

Currently, 594 down from 620. Still bad but it’s growing now. I had a rough two years of job instability and it hindered me in major ways.

Question: I have 3 Lines of credit with zero balances. as well as a couple Visas I don't actively use. Do I understand you correct, I would be better off just before the closing date. Charge something on them, and then zero them out say in a day or two? That would raise my score? You mention even a small $1 charge does the job? Good info.

@koreypaul6698

2 жыл бұрын

Yup, you could be leaving 15 points on the table

@michaelswami

2 жыл бұрын

@@koreypaul6698 Agreed

@michaelreid8857

2 жыл бұрын

@@BenGaut excellent advise. I make it a point, once a month to go to Walmart with my garbage cards. Eggs on one card, a jar of Salsa on the next. Got to show payments and low usage. Today I charged a $2 charge on one card!

@111DAKIDD

2 жыл бұрын

I don’t mean to high jack your post, but I am also trying to fully understand this concept. So, I have 14 credit cards and only 2 of them have balances on them. I do not use my other 12 credit cards but only once every 6 months or so [ just so they do not close them ]. The rest of the year they are at a Zero balance and unused … is this actually hurting my score? Should I be making small $1 - $2 purchases with each card every month and immediately paying them off… and if so, is it best to pay them off immediately or let the $1 - $2 purchase hit my statement [ picture day ] then pay it off before due date [ so I do not pay interest on the purchase ]…

@pengu6335

2 жыл бұрын

@@111DAKIDD Jeez, 14 credit cards? I have six and I think it's too much sometimes lol.

yeah my score tanked 35 points cause i let my 1k limit card post with 509 BUT i did pay it off in full and gonna keep it under 100 this month lol

@michaelreid8857

2 жыл бұрын

Same thing happened to me when I charged $400 each on two $500 cards. Should have done those on my $7,500 card! Any way I paid them off and expect a ride this coming month!

The single biggest thing I heard u say when I first started to follow you was pay your card before the due date🙏🏽🙏🏽 that's kept my utilization low and helped my scores increase

@coachang2573

2 жыл бұрын

How many days before the due date was suggested? (Thanks in advance😉)

@caitlynnhamilton8016

2 жыл бұрын

@@coachang2573 i would also like to know

@marisoljesus9862

2 жыл бұрын

How many days before the due date?

@JaeBTundra1

2 жыл бұрын

The big thing is paying more before the report date

@AnnaBanana3355

2 жыл бұрын

@@JaeBTundra1 when's the report date? Is that the same as the closing statement date?

Good morning my credit score is only 690 I don't know how to get it up . I just got a home loan low interest rate , pay off all my bills in full before due date , car is paid off . What can I do to get it to the 800s

Very informative video, thanks. Been working on my credit for a while with only slow gains. Then my wife passed in July and my score tanked. Freaked out applying for loans trying to pay for the funeral and life halted. Performed some damage control and now I'm re-rebuilding but my score is still horrible, 585. Always been scared to get a credit card but now I'm thinking about it to at least accelerate my recovery. Any recommendations for a bad credit credit card? Update - Increased my score 90 points in 2 months by opening a credit card, keeping usage below 25%, paying it down each month, and doing the Experian boost. Thanks for the help and kind words everybody.

@mamat1213

2 жыл бұрын

Look into a low balance secured credit card, check out his other videos and go from there. Good luck and sorry for your loss: (

@nickeeg97

2 жыл бұрын

Sorry for your loss 🙏❤️. Try Capital one platinum, Merrick double your credit, credit one. Good luck 🤞

@toekneelorenzo2942

2 жыл бұрын

Sorry for ur loss

@17thUnicorn

2 жыл бұрын

My sincere condolences, warm hugs and blessings 🙏.

@phyllisharris2766

2 жыл бұрын

Capital One Bank or a simple credit union…save your next tax refund and open a secured card for that amount then use below 30%.

It's late payments on student loans for me

@kamillarussell9147

2 жыл бұрын

Hello Ericka, You need help with your credit??

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair

694 on all three bureaus-utilization was 85%, just paid to 2% and waiting on new scores!! 🙄

But how does the card utilization actually work tho I have a limit of $1000 how much can I actually use on that card if i go over how much would it calculate too I know it’s somewhere around 300 where I should use and do I need to pay more if I spend more than my limit ?

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair

@craigmilner910

2 жыл бұрын

Do you still need help with this?

Whats weird is I applied for the American Express Cobalt card back in March. My score updated yesterday and it jumped 17 points. It never dropped at all since I applied. Typically it should drop after an application. But, I’m not complaining lol. What I’ve found over the years is that UTILIZATION is KEY! Keep it low if you can. Pay your bill super early.

Good evening, GOAT. What was your score during the 20-25 inquiries? Just curious, stay awesome!

@GoonRides

2 жыл бұрын

Yep

I’ve been wondering on everyone’s opinion on getting getting a higher credit limit. Ask for a limit increase or just apply for a new card?

@liztaylor85139

Жыл бұрын

Asking for a credit increase would be best ONLY IF the company does NOT make a Hard Pull. Ask them first if requesting an increase will cause a Hard or Soft pull. If they tell you it will be a Hard Pull? Then go for a new card. But realize credit length/history is also important so a New card can factor in and lower your credit history if I'm correct.

So I’m confused, is it better NOT to pay off my balance right away and instead wait for my payment to be due? I usually pay off my balance the same day I use my card to keep it at $0 balance

@koreypaul6698

2 жыл бұрын

It's better for your score to report a small balance 0-9%. That does *not* mean 1) wait until your due date, 2) carry a balance month to month or 3) pay interest. You can charge and pay it off all you want. Just make sure you know when your statement closes and make sure you have a small balance. I personally notice a big difference (15-20 points) with my score if I do this.

@docsays

2 жыл бұрын

yes, use your card. let the statement close with a small balance posted. then pay it by the due date. rinse & repeat. that will give you payment activity & low utilization

@michaelreid8857

2 жыл бұрын

Finally people giving solid advice! Just to clarify. Your gonna make two payments. One about five days PRIOR TO YOUR STATEMENT. The second one, AFTER YOUR STATEMENT PRINTS, BUT PRIOR TO THE DUE DATE. This ensures you have made an on time payment and avoid paying interest!

HAHAHAHHA "why am I wearing this hat?" THAT WAS BRILLIANT

?: I keep getting a “line” on my credit report too many cards with balances. I pay them in full every month.and never more than 10% charged. Cards active >20. So started paying them off prior to statement closing. Are my 0 balance bills not being recognized now as activity on my card?

@michaelswami

2 жыл бұрын

The activity is recognized on your report. I use All Zero Except One as my strategy, meaning I allow one 1% balance to report. This appears to maximize my score based on the numbers and trend.

Eh been there, 850 on all bureaus… it comes and goes. ( it’s like shooting hoops alone )

A really well, detailed and categorized explanation. I like the seriousness and answers to many questions, spoken so naturally. So I'm subscribing based on this and other videos.

what bout if you are stuck between the 720s-750 for a long period of time!?

@clockwork9825

2 жыл бұрын

U have some debt?

@yourfavpersuasion9385

2 жыл бұрын

@@clockwork9825 nope

@clockwork9825

2 жыл бұрын

@@yourfavpersuasion9385 ok. Not sure how to get ur score up. Paying off debt is usually a sure thing.

Question: is it ok to pay your bill early or should it be paid on the due date (my boyfriend insists on the latter), also what happens if you don't use the card at all?

Thank you for your article on the chase credit card rules, i just got approved for 2 in the same month!

Thank you for this refreshing video really highlighting the keys to credit

One thing that most don't know is when you're paying off a credit card, DON'T pay it down to a 0 balance! Pay it down to $8 to $9 and repeat. You'd be surprised how quick your score will jump up doing this. Its the fine line between successfully using credit and not being involved enough to be beneficial to your score.

@jenniferjones2126

2 жыл бұрын

Thank you for this info

@sergiocervantes1662

2 жыл бұрын

so if I owe 100$, I should pay 92$ ?

@sergiocervantes1662

2 жыл бұрын

should those 8$ go onto the next month or balances ?

@easy6427

2 жыл бұрын

@Sergio Cervantes yes don't pay it to a zero balance pay just to $8 and keep it there....Basically you just use it for whatever and then continually pay it down to that $8.

@sergiocervantes1662

2 жыл бұрын

@@easy6427 won’t they charge you a fee for not paying it in full?

how many inquiries do you currently have if you don't mind me asking 🤔

Plus they tell you a credit score has nothing to do with anything

I noticed that when my credit score hit 850 I get denied instantly..the denial letter said low credit card usage. To many hard inquires which is 2 mortgage inquires..

I paid off a loan on time but my credit score dropped?? Why was that

My score is around the low 750's. I have no clue what's holding it back.

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair

Love the videos. Been watching for years.

@AskSebby

2 жыл бұрын

Awesome! Thank you!

8:15 I got some "baddies but in the bad way" myself 😭😭

Myfico forums representing!!! 🙌🏾🙌🏾🙌🏾🥳

As far as I know, the air force and navy check credit score as part of enlistment.

how do you find out how many points you get per card?

I owe 4 creditors that are closed and I’m financing a car and my credit is 540 😩 I need the advice

Thanks for this! Totally need to boost our score asap!

I know I’m late but hopefully you can respond to this but should I actually use my credit card every month even if i use $10

Do credit card companies only report at statement closing, it never happens before? So it's 100% reliable to pay off balances before that so utilization isn't reported high?

I have a 699, and basically learned nothing from this video on credit.

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976 He helps with credit Repair

@mikecharette9258

2 жыл бұрын

@@ericnorthman3063 first of all a credit score of 850 is the best you can get so you are a liar!

Having good Credit score is nice I built my credit score next from nothing from over a year so far I able get myself a car loan with ok interest rate

Hey @Sebby. Is your spreadsheet usable by people outside of US? Our credit score is managed by TU in my country.

I wanted to improve my credit score from a 760 to higher but i have a auto loan that is holding me back to reaching 800:/ im basically perfect at everything else but that is what is holding me back i assume.

@77Joseph777

2 жыл бұрын

Auto loans actually help your score. If you paid off that auto loan when time is due then your score will drop. Your score should improve once your auto loan balance is at 30%- 10% mark. Also the age of your credit could hold you back if it’s younger in which case you just have to wait and try not to apply for any CC.

Are there any banks currently refinancing car loans? Or taking an existing loan from a different bank? I’ve done before, but tried 5 months with chase and they said that was something they were not offering right now. Current loan is over 4% but credit score is above 750

@robsorbo

2 жыл бұрын

I keep getting offers in my email from Capital One. I haven't looked at the rates, though.

@sethlaburda308

2 жыл бұрын

Join a credit union silly 😜

@so.many.obstacles

2 жыл бұрын

I refinanced through capital one some years back, on an old car. But when I did a refi on a different car through my credit union, I went from 11.99% to 2.48%.

741 my utilization on one card is 34%

@sethlaburda308

2 жыл бұрын

Grab another card with a higher limit... and keep both cards between 2 and 9%... get them there before each picture day...(not due date)make all payments on time and you'll be at an 800+ in less than a year

hello my score is about 720 but big debt 2 automobiles about 50k 1 secure card $500 limit from rebuilding credit but the automobiles created too many unauthorized inquiries 5 transunion and 7 experian

@ericnorthman3063

2 жыл бұрын

I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair

@ericnorthman3063

2 жыл бұрын

You need help

@mrblakeley7

2 жыл бұрын

@@ericnorthman3063 Yes I can use some help

Inquiries in the long run doesnt matter how many points. Companies will deny you for inquiries alone. So it still hurts.

@liztaylor85139

Жыл бұрын

So true! Before I started learning about credit scores I just wanted to get approved for cards and build history and payment history. But I've been turned down in the past with a decent credit score/history because of to many hard pulls. I've been told that if they are over a year it does less to your score and fall off after two years.

@officialjaluv

Жыл бұрын

@@liztaylor85139 yep it does fall off after 2 years. Gotta play the waiting game before applying for anything else or applying for things that dont do hard inquiries like CUs who does quick loans etc

This was awesome, thanks for sharing this 😀

My credit score is 766 it dropped because I didn't realize each semester my student loans pulled my credit score. :( I cancelled my loan for my last semester so it would not happen again.

I went from 340 to 677 now thanks your a big help

@landocalrisian2014

2 жыл бұрын

Bravo!!!!

@beatriz7064

2 жыл бұрын

How long did it take and how?

@donnymonreal8111

2 жыл бұрын

Well this is true facts i opened a capital one secured card deposited 200 and used that 3 months then i was approved for amex credit one card did that made all my payments ontime and basically made sure that when my report was gonna update i would my account at a low utilization first time points went up 240 then by 6 month i was at 677 but now im at 815 so i would ruffly about 7 months but ontime payments give good markings in your report ¹

@donnymonreal8111

2 жыл бұрын

@@beatriz7064 i replied

By statement date you mean the due date or Statement closing date?

@JaeBTundra1

2 жыл бұрын

Closing date

i set up pre authorized payment arrangements with my credit cards and utility accounts whenever i can. Is it acceptable or paying as early as possible is better? thank you in advance .

People should understand that the credit score is misnamed. It is the debt score, or how much more debt you can carry. It isn't about how well you pay off your debt. In fact, if you have no debt, your credit score is likely to be so low you will not get even an average rate on a loan. The history of credit scores is short and to the point. It is about being seen as a good debtor, not a good payer.

Does chase 5/24 apply to authorized users the moment you were added or when that card was originally opened?

I've been trying for 2yrs & started with a $300 secured card. I now have 5 credit cards for well over a year & I've never missed a payment, I actually pay earlier or pay the cards off before the due date. I started with a score of 598 & today in 2022 have a score of 612! Wtf?? Not sure how much better I can pay off my cards or keep them well below 10% my credit limits. I've been completely focused on using my cards & keeping them paid off but my credit is not rising quick at all.

This video answered a lot of my questions I had about credit cards. Great content

Yes, because I was confused as to why my report reduced by 4 points simply I paid my balance in full, bringing my balance to zero before "snapshot" day.

@mamanemcakesandtreats3974

2 жыл бұрын

I don’t understand that either

@amumbz5268

2 жыл бұрын

@@mamanemcakesandtreats3974 the trick is simple just make sure you are not reporting 0% on your dept, reduce your dept to as low as possible even to at least 3% that would do and once that has been reported on your credit report statement pay it in full on the due date or just few days after the statement date up to you. But do not play your dept in full for them to report no dept . That’s bad as the credit Beraux thinks you don’t use your card.

I am in a bad place concerning my credit cards. I had to quite my job due to mental health reasons. I couldn't pay my cards. 2 accounts are already closed. I am keeping 4 cards but the rest I will have to let go. I just don't have the income to pay them all. Even if I do enter some kind of payment plan. I am looking for a job now but there is no telling how long that will take. All I can do now is try to keep the 4 cards I am paying on and use them in the future to build my score back up.

the UPGRADE card is an open personal loan, similar to a creit card. it is a personal loan that doesnt close.

I’m in the midst of trying to figure out if I should off a car I was buying that died. I owed 8K but I talked to Capital One and they said I could pay 4K and it wouldn’t hit my CR. What do you think?