HOW TO IMPROVE YOUR FICO SCORE...LEGALLY!
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- Опубликовано: 21 апр 2024
- One tricky but legal way to improve your FICO score
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Развлечения
It helps so much to understand credit. I had great credit that was ruined by a sudden cancer diagnosis many years ago that left me unable to work for a long while. After slowly building back up after recovery, I can attest that it can be done, just as you say. I listen to you frequently and have saved so much on everything from insurance to food, still living a simple, frugal, and happy life.
I paid off my mortgage early, had no other debt, and because I paid it off and it closed my account my fico went down 60 points! Then my dog had emergency surgery so i applied and got a credit card to pay the $4000 (intrest free) and it went down another 40 points lol. I was just under 800 now I'm under 700 but no other debt, paid off on time. What the heck?! I swear they make up the rules as they go. I've already paid off 1200 in 2 months and it only raised my score by 6 points. Seriously you can't make this crap up.
I showed my daughter how to use the credit card 💳 as a debit card. She got a credit card when she was about 18 years old.. got approved for $500 limit. That’s plenty at that age. 😆 she has a great credit score and she is almost 22 years old. She is also debt free and is frugal too. Super proud of her. ❤
Banks won't lend for a small amount for a mortgage. They told me 30k minimum where some banks want 60k minimum mortgage. I had thought that I would borrow the 30k and first payment put 20 k right on it. The problem with this though is you have to pay the points and fees based on the 30k. In the end I just went for a cheaper house. I also piggy backed my son who refuses to get any kind of credit card. He now has excellent credit. My excellent credit score never helped me either but maybe for my son it may at some point.
Also, when offering a payment on an item using cash, try to negotiate price down.
It may be irresponsibility, or it might be that your husband left you and your two babies under three for your ‘friend’, the bills are split in the divorce, then your husband files bankruptcy, and HIS creditors come after YOU!! Happened to my daughter 😔
I don’t think that happened to all 20 applicants
@@PrepperPrincess Clearly not 🤣 … just suggesting that ‘some’ circumstances are beyond one’s control. Keep ‘preachin’ PP. You’re helping a lot of people. 🤗
Happened to my mother in law. Divorced a cheating husband who had been in business with both of their names on it. He filed bankruptcy and she got stuck with everything. Took her 10 long years to pay it off plus he never paid his child support for his 5 kids. Just moved away and lived with a sugar momma until she got sick of him and then he found another stupid woman to take him in. Some people are beyond irresponsible.
Thx for doing this, filming it and sharing it with us.
I've heard in Florida, where I live, that your credit score also determines your auto insurance rates, lower the score, higher the rates.
I saw your post about the in-between and I had to check out your channel! Thank you for this I'm always looking at tips for my credit! Awesome stuff! Subbed!
You really understand how people live.Thanks for not being all hyped up,fake and stuff.
Pay your bills off and pay your bills on time your credit score rises perfectly
to maximize fico score never use more than 10% of your available credit card balance.
I had credit cards 30 years ago and I could walk in a bank and walk out 10 minutes later with 15 thousand dollars it means nothing.
So I just need my mom to let me piggy back on her credit card? Mom!!!
A great credit score does affect the cost of insurance rates. I know there are other rates that will be lower with an excellent credit score.
I wish that wasn’t the case. Doesn’t affect me but I still think is wrong they do that.
:) THANKS for sharing! I did the piggyback for youngest daughter to help after her divorce, and like you, pay off mine every month as well. Year ago I had the Credit Union lower my limit to 10K, but I think that was a mistake.... ALL the BEST and stay WELL :) Cheers! !
Great advice Princess!
Thank you for the Protip!
Yes. I lost 30 points paying off mortgage, loans and bills. Pretty backwards if you ask me!
I know it's nuts!
They want to screw up your score so make money off of you
Yep I'll bet your right
next video:HOW TO IMPROVE YOUR FICO SCORE...ILLEGALLY!
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Easy! There are self lending clubs exits. They bring your score quickly and legally.
Many years ago, I had to sign for a credit card for my parents so they could have it just in case, while visiting overseas relatives. They owned their house, their cars, had zero debt and never were late with a bill in their life. They had $600 a month disposable income. Almost 30 years since then and I am still outraged.
Isn’t it great when our pups finally get us trained?! ❤😂
Don't really understand how they come up with the scores, kind of seems random at times. I look at my score on Citi Visa that I have. The score fluctuates from 786 to 802, most of the time it's at 786. I pay the card off multiple times a month with no balance ever carried over. I own house free and clear, own older Toyota Corolla, only bills I have each month are utilities and other living expenses you generally can't get away from. I do get notice saying not enough information on loan payments paid or something to that effect. I don't need loans. I wonder why my numbers are always the same ones, been like that for years.
Your credit scores determine in part what you pay for car insurance.
Thanks for this. I had not heard of "piggy backing" someone on your card. It sounds useful.
The walking trail you were taking the pups looked like it was straight out of a Taylor Swift video! LOL Great video. Per usual!
My score did not go down when I became debt free. I did not close my cards though. They consider the amount of credit used instead of debt to income ratio.
💙💙💙Yep happened to me to... because they like us in debt. Even though I use 1 credit card and pay off every month but, owe no one.I dont get it.🙄💙💙💙
We just got through mediation with a company and one of our demands was the removal of a delinquent loan that they put on our credit report. A really scummy outfit: well see how long it takes them!! Great video and thanks for the tips!!
It’s FICOwed up!! Thanks for sharing and the dogs 🐕 definitely know time and your language 😊Love it❤
The doggies are so cute 🥰
FICO is a joke to me and now credit card companies close your account when you don't carry a balance and you pay off every month I just had 2 cards closed with that excuse
Uh oh.
Most banks are hoping you'll eventually screw, up.. and sadly, statistically, they are right. My guess is.. most large banks will spring eternal and tolerate us "free riders" hoping we WILL fail.
My approach has always been .. don't use that credit card UNLESS you ALREADY have the cash to back it up. If you don't have the cash.. Do NOT use the card.
I got an Amex card courtesy of Credit Karma "helping" to get a card to build credit...after finding out they have "trailing interest", I paid in full, never used it again, they closed my account for non use. Now I'm not going to play the credit "game" ever again. There's ZERO BENEFIT for responsible use. Credit and FICO are for people who have money and spend it regularly. Poor people will NEVER WIN.
I have had a crapitol one for 8 years, i have a $10,000 credit limit. My bill last month was $14.95😊
If you use your cards and pay them off each month, you can reach 850.
As soon as you stop using your credit, the score will gradually lower! It is so ironic!
Do you have to use all of them like say I spend 300 a month is it better to spread that out on all my cards or can I just stack it on my favorite one for rewards?
@@BawkrI used two different cards- so the variety is better.
That’s how I got my first credit card in college, I paid cash for everything. I tried to get a CC and was denied, so my mom got an offer in the mail and added me then canceled her account sometime later. Always had good credit score, paid bills on time but probably got a good start from her. I am 2 years older than the age you said a few videos back and generally the same area stated… so probably the same time frame.
PP and Nala and Rocky ❤❤❤😮😮😮😊😊😊
Yes, income to debt ratio is a factor.
How do you prep? You live frugally, which is fine,I do too but how do you stock pile up foods ,survival, emergencys
Your children are very active and playful😆🤣
I'd like to see a video on a small business loan that's still owed on 8 years after it closed. Is there something that takes that amount away as no longer owed besides bankruptcy?
I just got a letter that my limit was upped which I did not ask them to do and was miffed. Anyway, score is 796.
Fico score affects your auto insurance premium.
True. If you have a low credit score, many insurers treat you like a drunk driver.
I can’t believe your puppies go out in the rain … when I try to get my puppy out in the rain he just backs up into the - like heck no I’m not going out in that mess😂❤
Nala loves the rain. Rocky, not so much. He will only go in a light rain.
If you have a credit card keep your balance 33 % of the limit dont go higher ie , 3300 for 10000 !!!
Hello so I managed to save 10thousand dollars I put a 100.00 a week away so my plan is to keep saving and pay my suv off in Dec it'll be paid off 6months early my credit score is 770 I payoff credit cards monthly if I use credit cards I don't have a balance of over 100.00 so I can pay them off each month I have a high credit limit so I don't carry them on a regular basis no temptation that way😊
Glad you said that ab Dave Ramsey bc you're right, it's not easy for lower income people to save up enough cash for a large purchase like a house in today's market. Thank you for being so real. I do follow most of Dave's principles but like the way you do things better. You see both sides of things.
Lower loans get turned down more than bigger ones for houses. If you had got it for a car but then spent it on a house instead you might have got it. Just saying I think that's a possibility.
Why the clickbait title if tou have nothing to suggest? 🤨
Piggybacking is the advice.
staying current seems to work. what I don't understand is how subprime who've defaulted more than once can rebuild credit in few years yet 35 years ago no lender would talk to them. did you know a LLC can file then 1 year later back in business under new name laid off employee's never get paid my former neighbor was a LLC home construction parking equipment on my land without my knowing even built a road to get back there then one day reality sign end of his driveway now he's gone. back when he moved here asked if his "family" could "hunt" on my land. SCAM! suppose he learned bag of tricks from banks?
goal is to keep total debt below 30% across all credit accounts that are revolving.
Once you pay off a credit card should you close the card?
That’s not smart because when you turn the card off, it lowers your score
No, that will lower your score. Keep the card and use it once a year when it is renewed and pay it off right away. Available credit affects your score.
Thank you so much for the reply. I'm 77 and you would think I would know something by now. Thank you again. Love your channel you have such a wealth of information.
Hello
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does a credit report show what is owed on different credit accounts, mortgages, vehicles, etc?{ like for someone I consider marrying or going into business with}}
It will show what you owe, late payments etc. it will show hard inquiries for credit and soft ones. I used to get almost daily stuff from discover amd to my horror on my credit report it showed many many soft inquiries to my credit ( not solicited) soft inquiries don’t hurt your credit score but it really make me mad that they were there in the first place!
Giving advice again. Do or hire a background check, especially if you are in a community property state. I am a widow who almost married a man I knew for 45 years till I did that. I dodged a bullet.
My score is high, but it doesn't matter. I use a credit card only for the convenience, it could just as well be a debit card or cash.
I cared about the score fluctuating for a few years until I realized the ONLY loan I may ever need in the future is if I move and get a mortgage.
I know people that have filed bankruptcy 3 times they make a carrier out of it
My score was around 800 for a very long time then it dropped and I don’t know why. Been holding around 770
We own the house and both cars outright. We are currently saving for our next vehicle with the intent to pay cash, but since our 2011 van has only 60,000 miles on it we have plenty of time to save up the cash for it. The 2007 truck has a lot more miles, but I expect it will go another 50,000 and it is only used in town. Both are Toyotas so I am not really worried about breakdowns since we maintain them well. I figure maybe around 2030 or so we might need to buy a new vehicle, but we will keep saving until we actually do or they make us buy something electric. All that to say, I have no idea what we need a FICO score for. It is in the high 700's to low 800's. We have one credit card we pay off each month. On occasion I will do something 12 months same as cash or 18 months same as cash, but I always have the money in the bank for it, because that is something that boosts the credit score, but I still don't know why I need it.
I added my husband to my credit cards to bring his credit score up
Dave Ramsey has a formula for paying cash for a car. I have not done it but i did pay for my car with cash after my Hyundai Sonata was stolen, sold it to carvana and turned around and bought my 2011 Acura TSX, it runs beautifully, still looks great and it has 190,000 miles on it . I have had it almost 2 years and other than maintenance i have only had to replace the battery, and that is under maintenance or like replacing your tires, it will have to be done
You had me at "It's Legal"!
I have no credit as far as I been told, and I am finding out that having no credit is worse than bad credit. I am on disability and I can't even get a kroger credit card to help build my credit, and I don't know how to do it. Any suggestions or help you could give me to build it up so I can have credit?
Store credit is junk credit. Listen to Clark Howard, he talks about it, all credit is bad, if you are going into debt amd not paying it off at the end of the month you can’t afford what you are buying
Giving advice here. I am almost 70 and is advice from how I first got credit in my late teens. Saved up $500.00. Went to the bank and took out a secured loan with that in an account i started. Paid it back and then I had a credit record. Don't know know if this can be done in today times.
Piggybacking still works however it's no longer as beneficial as it used to be. If you let someone piggyback off you, you might want to hold on to the card. It's not necessary to actually give them access for them to benefit. Besides loans and rentals FICO scores are commonly used by prospective employers and by insurance companies. Car insurance premiums tend to be higher if you have low score and some job opportunities may be denied due to low scores. It's in your interest to build and maintain a decent score. You don't need to carry a balance to do so.
I am a big Dave Ramsey person. On one of their podcasts they tslked about calling some apartment complexes in the Nashville area and there were some that would rent without a credit score, so it is possible to find one.
Also i heard him explain how to buy a car for cash, which before that i couldn’t figure out until i heard how but it is possible😊
I'm switching jobs so that in years we can pay cash for a house
Cash or I don't get until I do
Feel ya my friend! At 71, I have been totally debt free since I was 36. Every car and house has been paid for in cash. (we drive old cars too) And, I cannot get my credit score about 830, and, it dips down frequently. Frustrating! Hang in there and keep on doing what you are doing....America needs to hear it!
Can you share your financial advisor’s contact information? Thank you
Joseph Laswell from Way Financial in Ripon CA.
credit scores are for victims
Dave Ramsey has been out of touch with some topics for years.
Doggies are adorable ❤