If you transfer a credit card balance to a different card, since the balance for that old card is now zero, put that card in the sock drawer and quit using it… after you pay that balance off on the new card, then decide what to do with the old card.. if it’s charging a fee/has no positive structure, then close it.. it will show as paid off in good standing for up to 10 yrs..

@dovie.p

Ай бұрын

But if you close the credit card, would the credit points go down?

@shaolyntheabolutenoob

Ай бұрын

@@dovie.p temporarily yes.. but if I’m trying to get rid of toxic credit, I’ll take the hit.. after 3-6 months of paying the transfer card off, it will rebound pretty quickly.. credit is a marathon, not a sprint..

@sunlight4169

17 күн бұрын

@@dovie.p I wouldn't close a card unless I was applying for something like a mortgage and the lender advised me I would need to close some of my credit cards to reduce risk/exposure. The only other reason I would close it is if the credit card is a fairly new (not older /long history) card and has cut my credit line to an amount that is not in line with one's credit profile. This was my experience with PNC - they cut my VISA from 10k to 1500k, and then about eight or nine months after that went down to $600. All my other cards are 10k 20k etc. I wish BBVA never sold out to PNC. It was such a pleasure though to call and say no thank you PNC, you don't value me as a customer so I don't value your card. So I would never close unless there is a really good reason such as the above or if the card issuer really stresses you out /you can't stand the card issuer for whatever reason. Otherwise, just use it at least a couple of times a year, pay it as soon as you can prior to due date, and you are in good standing.

Citi preferred card is the one I have and let me tell you that 0% APR is love. I half way of paying it off I’m not even 6 months in the 21 month period.

@Ultimate_Power_

18 күн бұрын

How much did you have in it initially?

@BJizzel21

2 күн бұрын

@@Ultimate_Power_ I was approve for 9k and when I made that comment it was 8,500 of debit that i balance transfer last year in October. So I managed to pay it down 4K in March. It’s July almost august and I did another transfer of large sum and it’s down to 1,500. So I strongly recommend the Citi card.

Thank you for the valuable info!

thanks for your time, you saved me some i'm working on this for my sister.

Great video John! lots of valuable information and so well explained!. Thank you! I hope you can help me with this question: Wich cards rank at the top when it comes to the highest credit limit?

Thanks for your content.

I miss the good old Chase slate - 0 APR 0 balance transfer

Question about these types of cards. Does anyone know if they ever make an offer to card holders to reset the 0% APR as an incentive for not cancelling? With the exception of the Chase Freedom Flex, most of these cards offer very little in incentives outside of the intro APR. Just curious if they do anything to sweeten the deal to incentivize keeping it Longterm.

Nice video, can you add the requirements next time as well as the card details

waiting for Wells Fargo Autograph Journey Review, say other KZreadrs but won't be satisfied until I see yours.

I am confused about the CFU SUBs and I was thinking about getting the it as my next card. I am a student so I do not spend $20k a year - in this case is, would I be better off going for the public welcome offer of $200 (I prefer 20000 miles) or could I get more on the private offer?

John, I think you already know that the interest rate on a credit card is irrelevant to the consumer. As I explain in my latest video, the card grants access to the credits in the Cestui que trust (and the card holder is the beneficiary not the trustee.) moreover use of the card actually manufactures collateral securities.

Thanks for the info....but you forgot to add Wells Fargo !!

I'm honestly not quite sure if the private or the public offer is best for me when it comes to the Chase Freedom Unlimited card. The public offer is basically a free $200 credit because it's very easy to spend $500 in 3 month. Other the other hand, to get a the maximum $300 offer on the private offer, I'd need to spend at minimum $20K in 12 month. My primary expense is my mortgage which I obviously can't use this card for. Aside from my mortgage, I don't know if I'm naturally spending 20K in a span of 12 month.

I already took my cc in October when should I take next one ?

Thank you for the video I’m trying to help my lady be credit card debt free and hopefully move on to a better credit card once her debt is payoff to help her credit score

Balance transfer cards for the win!

Would the citi custom cash work with this aswell?

I understand the difference between statement Date & Payment Due Date But don’t know the difference between payment Due Date & Promotional Ending Date

I got the $300 extra hours within 4 months after the $20k was reached

Is the 1.5% bonus better than the current 200 cashback bonus + 5% on groceries and gas for the CFU? Edit: I guess not… It’s only up to $300 total so I guess depends which would you think you’d max out first, even then spending $500 to get $200 back and spending the rest of the year with the 5% back and get up to $600 on groceries and gas can easily surpasses the 1.5% offer. Unless I misunderstood something?

Can we transfer balance from business credit cards to these cards?

Is this the same offer you mentioned before (December/January)? Because I thought they matched the percentage so 3x on food normally is 6x at the end of the year. That was why I had applied for the chase freedom unlimited.

@MultiJuan120

4 ай бұрын

Nope, that AMAZING offer expired I believe on January, the one you're talking about matched ALL your cashback, effectively turning it into a 10x on travel through Chases portal, 6x on restaurant and drugstores and 3x on everything else, if you applied before it was changed to the current one, you should be good, if not, this one is also a good one for getting a 3x catch all

In your example of not paying the CC till summer, does your credit score drop since you are carrying a balance and not making payments for almost 8-9 months?

@KevinMartinez-kp4tk

4 ай бұрын

I think he mentions that he pays the minimum every month, but if you carry a balance, that could affect your Utilization Ratio.

I don’t know what to do I wanna get a credit card but idk where to start and I wanna do it the right way

@xnagaox

Ай бұрын

It's better to have a credit card of each bank. Ex. BofA Chase Citi amex. That way if you ever need a balance transfer. You have different options. If you have a chase balance, you can't do a balance transfer from a chase to another chase cc

What does a negative current balance mean? I got like -20$

@terellmuhammad489

4 ай бұрын

It means you have a credit balance. It could be due to an overpayment or a refund.

You have to many commercials I can’t skip . Like every 2 minutes.

The bad thing is that some have fees for the transfers

@JazRodriguez91

3 ай бұрын

Yes but 3-5% transfer fee is better than 18-26% fees monthly.

@suvamkharel541

3 ай бұрын

Yes but paying 3-5% one time fee saves you a lot in interest as APR can be upto 29% monthly

@verafiedairman

2 ай бұрын

It’s not 18% or 29% monthly. It’s APR, Annual. So 5% would be about a couple months of interest that gets built in, but to y’all’s point, you’ll have more time to pay it down. Which saves on paying more interest Lenders use APR, but typically break it down to a daily rate. Which is ~30%/365days. Something like, once the statement posts with a balance, you’ll be charged the daily rate. I believe the interest will post in the following cycle as well. It’s a really small % but it compounds more than monthly and annually to squeeze a bit more of interest fees.

If you're carrying a balance on a credit card, you shouldn't have a credit card. Stop paying for my free travel.

@EmpresasBJ

4 ай бұрын

I mean if someon is paying for your free travel whats is there to wine about? Lol

@theparkourlifestyle

4 ай бұрын

But if it’s 0% interest, then they aren’t paying anything

@PerdomoTesla

4 ай бұрын

@@EmpresasBJ I'm not whining. I feel bad for them because so many people get absolutely screwed by credit card companies. If you pay any interest, late fees, or fees in general (other than yearly fee for having credit card) then I feel sorry for you. You're being taken advantage of and not taking advantage of credit cards. You're not a credit card person.

@newagain9964

4 ай бұрын

@@PerdomoTeslaif that’s the case, then ur actually the one taking advantage of ppl (that need to float expenses thru CCs). Ur in the market giving money to banks so u can surf on top the unfortunate. And also what actually fuels rewards programs are swipe fees. 🤡

@pongchannel.

3 ай бұрын

​@@PerdomoTesla Also something like fizz has rewards and doesn't let you go in debt (allbiet none of those are nearly as good but yeah)

When is the right time to get a great welcome offer at Freedom Flex?

What about wellfargo flex it’s 21 months 0% interest