I recently stumbled upon this channel and it has changed my life for the better. My outlook shifted after binge-watching clips on velocity banking here and starting the process. First round of payments boosted my credit score 40 points. Second round helped me see where I need to focus more closely (overspending). I can't thank you enough as I live on a meager income!
Even though the 800 is going in and coming out, the balance is lowering and going up as used, but well over the minimum is paid changing the amount the interest is calculated on. So doing this over time, should close the gap even though you're using the card. Plus rewards.
You probably need to bill match, combine with paying the monthly interest. It's at a multiple max out credit cards situation where VB may not help and need to get more income. Of course depending on your cash flow. Have a great day.
Thank you, I am in this situation… barely getting by, I applied for my first credit card and got approved for 3000. I watched this video a few times, seems like a solution, to a very slim budget. I seen your stream of the man who supercharged with rentals, any update on your endeavours??
Hi Christy! I am confused -- if she's paying $400 into her credit card 2x / month, then using the credit card to charge for the same expenses, this really makes sense only because it provides her with positive cash flow. Because at this stage of her scenario, she's merely swapping credit card for checking account to pay Gas and Food. ?? Thanks so much for all your videos!!
Correct. There's a couple things going on. 1) By placing expenses on the CC/LOC it lowers the ADB, therefore less interest is owed. 2) Yes, understanding LOC are revolving is what allows for income to be place in the LOC. Effectively taking over the checking function. 3) The positive cash flow comes from lower ADB and balance transfers from debt consolidation 4) Lastly, by placing income on your LOC/CC it lowers your credit utilization which makes it easier to qualify for more/better debt products. Have a great day.
I recently stumbled upon this channel and it has changed my life for the better. My outlook shifted after binge-watching clips on velocity banking here and starting the process. First round of payments boosted my credit score 40 points. Second round helped me see where I need to focus more closely (overspending). I can't thank you enough as I live on a meager income!
@tania God bless you for sharing! Soooo thankful you’re getting the help you need. ❤️
The banks hate u, it pisses me off i cant mention loc. But God willing i will defeat debt thanks to u . I love u and your videos u bring us all hope
@donald I LOVE YOU 💕
Thank you so much!
That's why we preach local credit unions. Protect and leverage our credit unions, probably our second greatest resource.
Thank you so much 🙏🏾
Even though the 800 is going in and coming out, the balance is lowering and going up as used, but well over the minimum is paid changing the amount the interest is calculated on. So doing this over time, should close the gap even though you're using the card. Plus rewards.
Thanks, you've been a lifesaver!
@MrRob So thankful you are finding value in the videos!
I just love her soooo amazing great Queen
Blessed that you continue to share this.
You are amazing, I have been doing velocity banking since I found this channel almost a year ago, and it has helped a lot! Thanks so much 😊.
@janette WONDERFUL NEWS! Thank you for sharing!
Thank you ❤☺️
Thank you for another great video. Are you able to speak on Velocity with Maxed out cards
You probably need to bill match, combine with paying the monthly interest. It's at a multiple max out credit cards situation where VB may not help and need to get more income. Of course depending on your cash flow. Have a great day.
Thank you, I am in this situation… barely getting by, I applied for my first credit card and got approved for 3000. I watched this video a few times, seems like a solution, to a very slim budget. I seen your stream of the man who supercharged with rentals, any update on your endeavours??
Hi Christy! I am confused -- if she's paying $400 into her credit card 2x / month, then using the credit card to charge for the same expenses, this really makes sense only because it provides her with positive cash flow. Because at this stage of her scenario, she's merely swapping credit card for checking account to pay Gas and Food. ?? Thanks so much for all your videos!!
Correct. There's a couple things going on. 1) By placing expenses on the CC/LOC it lowers the ADB, therefore less interest is owed. 2) Yes, understanding LOC are revolving is what allows for income to be place in the LOC. Effectively taking over the checking function. 3) The positive cash flow comes from lower ADB and balance transfers from debt consolidation 4) Lastly, by placing income on your LOC/CC it lowers your credit utilization which makes it easier to qualify for more/better debt products. Have a great day.
Thank you.
So I have a question Christie: How long do you think it would take before she's ready for a loc to handle the rest of her debt?
Do you have an accounting background ?
I'm on ui, and my debt is unusual I'll try this
So basically people just pay their” minimum due”
What about the interest charge for the month?
For example if my payment for the month is $250 but I get charge interest for $150 so now I can only reused $100 dollars from my $250 payment
I need help!!!
Her income, is that net? Just wanted to make sure.
Veloscity bank is net income.
Get another job and/or cut your spending. WOW, that's simple!!!!!