@@anteperic2836 North American industry classification system and standard industrial classification that's what they both mean and it basically tells your business type specs naics/sic.
I financed my car at my credit union. The woman who did the paperwork told me exactly how the interest accrued. So she suggested I take my payment and split it in two. So I paid half on the 15th and the other half on the 25th. She said I would pay off the car 1 year early and I did! Banks won’t tell you this.
@@bandokazoowee1024 if you pay monthly then it mean you are paying 48 weeks (4w*12mo). If you are paying bi weekly then the total weeks that you pay will be 52weeks (52w in a year). Hope this help
This isn't about making more payments, it's about making part of the payments sooner so you pay off your principal slightly faster and slowly save more and more in interest. Imagine waiting until the end of the month to make your payment vs. making half the payment on the 15th, whatever you paid toward the principal for that 15th payment isn't accruing interest until the end of the month. Saving a few bucks a month over a few years can add up quickly. Note that this depends on when and how they apply payments. Not all lenders apply payments or calculate interest on the day they're made. Some may only calculate interest monthly so it doesn't make a difference if you pay on the 1st or last day of the month.
This video was worth watching just for the “self-employed” part. I’ve been self-employed for years and it never occurred to me to be a negative! From now on, I’ll list the business name. Thanks
9minute video and this guy dropped more gold nuggets than lots of the 25 minutes videos out there. I know quite a bit about credit repair myself but this guy shared info that many credit repair companies and/or experts never share.
WOW DREW!!! Your words mean so much to me!! Thanks for taking the time to write this comment and for watching! JOIN our FB GROUP!! ALWAYS HERE FOR YOU!!! Have an amazing Holiday Season and thanks again!! I appreciate you!
I'm never asked any of these questions and I accept about five or six pre-approved offers a year for no-fee, cash-back cards that pay me $150-$300 for spending $500 or $1000 in the first 90 days of having the card (easy)....My credit score hovers between 805 and 840 consistently and I haven't paid a dime of interest to a card in over 20 years.... My secret is that I use the card accounts as de-facto checking accounts and pay them off weekly and therefore I'm always ahead of billing by weeks....I collect every one of the sign-up bonuses and a fair amount of cash back because I use the cards for groceries, gas, utilities... literally anywhere I can use a card, I do it, then pay off weekly...
+1 Except that many short term credit card applications will bite you in the behind when you stop having enough earned income . You need to have one that you keep active and use it regularly with enough evolving balance that its credit limit is enough after you retire.
I do the same thing - I keep a tally in my phone where I start off the month with the amount I have for spending (this means *after* budgeting for bills). If I start with a spending amount of, for example, $500, then every time I spend on something that is not budgeted, I immediately take that amount from my $500 total and keep a tally til I get paid again and the beginning amount goes up to $500 again. I use a cash-back credit card for all purchases and automatic payments (like insurance, car, etc). When I get paid (once a month), I know I have that money ‘saved’ to pay off the entire balance, so I do not pay interest. I use the cash back reward for Christmas presents. Works for me.
all hail the mighty youtube for being able to learn financial literacy for free... I totally understand why they dont teach you this in school. thanks for your channel bro
Wow! I’ve been putting I’m self employed never thought about it being a bad thing lol thanks so much! This is my 1st video and I will be watching many more! Ty again for sharing this info! We need more citizens like you to inform us! Keep up the awesome job
Yea self employed sounds temporary or risky to the banks/lenders. I work in banking on the loan origination side and we deny roughly 68% of self employed applicants. It’s sad but true. And it’s because of the high failure rate of these businesses for all kinds of reasons such as the market headwinds. Or the business my last more than 3 years but not really ever turn much of a profit. Lastly we see a lot of small businesses not pay taxes and so their businesses have tax liens to pay.
I always put "retired" on credit card apps and never get turned down. I make more than I did when I was working with my pension and Social Security so that probably helps.
I constantly get pre-approved credit card offers and I shred them and pitch them into the garbage. Just because your income is retirement it doesn't mean that you will be turned down for credit!!
ya, that really threw me back w/the retired bit. So, he didn't bother to tell us just WHAT to put down instead of retired, or, did I miss it? No, he didn't. We HAVE to put down SOME type of income, so what do we do? I'm not lying on an application
The least costly way to get a high credit rating is to save up about $1000 and then take out a secured loan on your own money! You will pay a simple interest, most financial institutions will let you set up an auto pay program. Just make sure you remember to add the amount of the interest or more to the balance to insure you can fully repay the loan. Then just repeat it every time you pay off the loan get a new secure loan. That way you get really high credit with only paying simple interest, by far the least expensive way to get a high credit rating!
First time on your channel, really enjoyed your down to earth explanations of why you do or don't. Makes understanding things easier for those us who focus in life is outside of finance. Will be looking for more RUclips videos.
SELF program reports to all three credit bureaus - as you save your money while building your credit. If you're disciplined enough to do it for 2 years, you receive most of your money back once the loan reaches its goal. My credit went up 53 points after merely opening the account. I choose to pay $150 per month, but you can choose lower amounts. After 3 payments you receive a MasterCard with a limit of $375. Randolph Brooks Federal Credit Union (San Antonio, Austin, Central Texas region) also offers a "credit builder" MC card.
YOOO Austin!! APPRECIATE what you share here!! Hoping you're enjoying the videos. What videos would you like me to cover next? Will do it for ya! I appreciate you! Have a GREAT DAY!
Side note from my experience that ran into with a line of credit loan instead of a credit card was the employment services section caused a big difference in an online approval amount. I am in skilled trades but our company was purchased by retail company. When I did the online app and select maintenance and repair, I was offered a lot higher amount than when it was just set for retail business even tho I already had my income and employment filled out. That one drop down box was allowing around a 10k difference in offer that I was approved for.
MICHAEL SUMNER, ME BEING RETIRED MAKES ME FEEL SCREWED! I BUILT AN FHA HOME ON MY OWN BACK IN THE 80'S BUT I HAD PERFECT CREDIT, AND WAS 27. THINGS ARE SO DIFFERENT NOW. IS THERE A REAL NUMBER TO THE FHA OFFICE? I'M IN LEXINGTON, KY. THEY POST ALL OF THESE FAKE NUMBERS ON LINE BUT THEY TURN OUT TO BE A FRAUD. THANK YOU. MARG GRIFFITH
JACK!!!! YOU ARE THE BEST my FRIEND!!! Let's keep growing together!!! ALWAYS here for you!! Thx for rocking with me since the beginning... YOU HELPED this channel to grow!! Appreciate you so much!!!
Thanks for the advice,I was definitely going to apply for business credit.I am glad I happened to see your video before I applied.I am retired and interested in real estate investing, I almost sabotaged myself because I was going to put this on the application.Thanks again I really appreciate it.
Radikal Hughes is breaking records baby ! His video library of reviews are priceless! Let's support Dan and put the word out. His voice is our voice. We got your back buddy. Keep rollin those vids daily.
My friend!!! glad to have you on board! Welcome to the channel!!! Appreciate you for taking time out of your day to watch and comment!! Have an amazing day bro!!!
I got approved for a store card and it was the first one that I have ever seen , that uses net income instead of Gross to determine credit worthiness. I believe that this is the more accurate means to use , because it is a reflection of what you actually bring home after taxes . I have seen mortgage companies use Gross income to convince people they can afford more of a house than they can reasonably afford . That’s how we arrived at the crash in 2008-2009. These lenders didn’t care that people would be biting off more than they could chew because the mortgage was guaranteed by the taxpayers and we would be left holding the bag, for their bad lending practices .
Well actually the crash was due to too many adjustable rates nothing was fixed so once they started adjusting to insane balloon figures no way to get paid double and triple the mortgages
One issue you have with not saying you're self employed and putting your company name instead... when they ask for POI, they want paystubs which you don't have if you're self employed, sole proprietor, or some types of LLC. You'd need an S Corp minimum to issue yourself paystubs.
I stopped getting into debt three years ago. I decided to sell the housei still owed. With the money left over, downgrade to a smaller house and paid cash for it. Totalled my new problematic truck, and bought me a used truck cash. Now i don't have a mortgage or a truck payment. I did away with full coverage insurance. My property taxes went down 50%. I don't pay homeowners insurance anymore and save those $3500 a year in a separate savings account. I no longer indulge in unnecessary luxuries. I decided i have nobody to impress. I just like the fact that i have less stress and building up my piggy bank. I stopped using credit cards and now pay cash for everything. It's a small dent but I'm satisfied not giving banks my hard earned money, less property taxes to the government, and no money to insurance companies. Fuck credit. All cash baby!
I APPRECIATE YOU SO MUCH!! You have been rocking with me for a minute!! Always got your back!! If you ever need a video made i'll make it!! Happy New Year!! Thx again for EVERYTHING!!
Great information. I recently retired. My credit score is 808 and I was turned down for a loan because of my debt/income ratio. I know the retirement status is what waved the red flag. What can I use as an alternative? I'm waiting on the up coming video. Thank you.
Great Advice here in the vid.... Never put "retired" or "self-employed" on credit card applications, as they are red flags. Provide realistic income that can be justified, and use the name of your business instead of "self-employed." Ensure all personal and business information is consistent across credit reports. Key moments: 01:36 and 06:55 .
Whatever you want to put on your application, make sure you can & will pay back your loans responsibly. Also, using betweek 6 and 11% of your credit limit gives you the most credit score points. Using more than 30% of your limit may go against you. I know... why do they give you a high credit card limit, only to punish you for using it?
Appreciate you for asking that Georgy! I'll definitely have to make a video about it down the road . Keep on being awesome my brother!! Have an amazing day!!
I intentionally put in 10% lower. I was asked one time to prove for a visa infinite privilege and they were surprised I made more and the limit was increased 😆
I was asked for a card also to prove income. I uploaded my income tax return. I made sure that what I said matched, what it said & was approved for the card.
1:33 Start 1:58 Retired and Self Employed 3:10 Income Too High to Low. 5:01 Business NICS SIC Code 6:31 The Why... 7:30 Is about making sure all Burruals are all with the correct info and all are saying the same thing.
if you can find a way to monetize doing this Menu on every RUclips video... you'd be a Billionaire. By Monday. And In case you're reading this on any day other then Sunday: that would be "By Tomorrow".
Hello I only listen to the first statement not to write on credit application and totally agree. I am a landlord and and the fastest way for me to denied the application is retired and self-employed. Experience has taught me that it there will be problem getting the rent.
I've never been happier than when I paid off all my credit cards, put all that debt behind me and pay cash. 57 years on this earth, that's the best financial position I've been in. Credit cards and credit card debt sucks and I've been up to my eyeballs in it.
Wow!! Thanks for your kind words Myron!! Hope to have you watch other videos down the road!! Thanks for taking the time out of your day to watch and encourage me... I really appreciate you my friend!
I been putting self employed for 20 yrs. At one point I was putting self employed, when I had a job too. I have never been declined a credit card if I had a good credit score. However, I always did put the name of my business.
I believe the easiest way to get approved for credit is to actually have a steady job, as boring as it may sound. I used to be an entrepreneur and now I work in a normal day-job. It's quite a difference in your credibility if you have a steady monthly pay-check versus trying to make it from month to quarter, to fiscal year, as a "business-owner".
lmao. i seriously can't believe i just came across this video. i been on this for a grip man. never expected to randomly click on your video hahah. good to see you out here livin' fam
James! That is an amazing question! Thank you for asking this ... I will do an updated video to explain in detail.. It's easier for me to do a video and thoroughly explain it!! I appreciate you!
My mom is retired, has a 813 credit score, and never gets turned down for any card. Of course she doesn’t apply anymore, but gets pre approved offers monthly.
Disagree. I’m retired from the federal government and self-employed and disclose both. Both incomes are high, my credit scores are high, and I never have issues getting approved for loans or credit cards.
Likewise, I am a retired Naval Officer with very Nice retirement income, I have Zero issues obtaining Any Credit be it Credit cards or personal loans of up to 50k (at 10.99%).
My Stage 4 Cancer Chemo and Keytruda treatment costs were not within my means. I did it anyway. Been in remission for 2 1/2 years. But medical collections are affecting my score. I guess if I hadn't gotten treatment and died, my credit score would have been much better.
You basically listed everything not to do that I do I need some serious guidance I'll just watch you and follow your lead thank you so much for a great source of information 🙂
Most of these questions I've NEVER seen asked before as it pertains to "Credit Card" applications. In fact, any credit card applications I've ever filled out an "underwriter" has never been in the mix whatsoever. I think this is about attempting to get a loan at a bank for an actual "credit application"... NOT credit CARD application.
Any type of lending is underwritten, that's your contract with the lender. Its either automatic which is computer generated, or manually which is what happens when you aren't automatically approved or denied. The computer kicks it out for whatever reason and it goes to an actual person, or underwriter for review.
Just subscribed, some great information. Very different from some of the other RUclipsrs. Definitely useful. This is my first time watching and I've already learned a few things. Thanks so very much.
WOW Deborah thanks so much for taking time out of your day to watch and give feedback. I'm glad you found some value in the videos and i hope i can keep delivering more over time. Thanks for the sub! I appreciate you and have an amazing weekend my friend!
My father is retired and he churns with me (self employed) between the two of us we have over 30 cards. The next two vacation is basically free. This might be good advice for your first card but if you already have an established history with no late payments , banks don’t care.
@DL ... I hope that I can ask you two things ... (#1) Can you explain what you mean by "churning"? (#2) Also, what do you mean by the last sentence -- that if you have good credit history, then banks don't want you? Is that correct? [Maybe @RM will answer too.]
@@PoeLemic Churning means signing up for credit card and hitting spend requirement (using bills that you're already going to spend anyway) for the sign up bonus. If you have good credit and good payment history, banks will not care if you're employed, unemployed or whatever. They only care that you're able to pay your bills on time. If you're unemployed and your credit history shows that you swipe 5000 dollars a month and paying it off, you can bet any bank would love to have you as a customer.
You're the BEST man!! And it's good to be back together with amazing people like you! Can't wait to crush it again! Appreciate you brother!! Stay blessed too!!
I have no problem getting approved for credit using self-employment. Never had a financial review. Usually they ask the name of the business and the industry. But I have a good to excellent credit as well. That might be the reason. Also I am regularly getting pre-approval offers.
Can you use debt to pay a debt? We do it ever they debit/debt just remove the I in debit an is there a difference between a credit card an Accepted card? Lol!
I agree! I’ve been self employed for awhile now and I never had any problems getting approval for loans or credit cards. I believe banks looking at your credit profile and expenses like rents/mortgages, car payments, in order to determine your credit worthiness.
Same, i would almost think its the other way around....like they would assume since you manage a business you probably have enough responsibility to pay your bills and make responsible financial decisions. Self employed you have to do your own taxes (or pay someone) keep track of paperwork, invoice clients, collect with clients, get your own clients, price out work accordingly....I would think a self employed person would be better with financial responsibility in most cases.
Absolutely on point. Everything has to line up. I have 100k credit line. I use all my cc constantly. However i pay them off monthly. My utilization is 1%. Its so ease and fun. Im currently. Expanding business credit now. Its a slow steady walk of progress. Yes.
Citi Master card approved me for $3500. I’ll advise anyone that It is best to have a minimum of one unsecured credit card aside from your debit card (which is your own money) for back up purposes.
I believe it is, and have found it was best to call and speak to a rep. when I applied for my AMEX. I think they get credit for all accounts open. But regardless if they do... they take apps all the time. You can pick up cues BEFORE you give an answer. And if you're good at fielding (fishing) for the right answer, they can actually steer you toward what will work. I said XYZ for my current Income and when he asked about Projected, I joked and said "20 Million... waited for fake chuckle and said... oh you mean THIS YEAR?.... waited for a little more real chuckle..." so now we're kind of not as serious, (everything is recorded) so i asked him what is normal, but before he could answer I just asked him: "well how about ABC?" he said, "ok, that sounds a little more reasonable" If any one would listen to the tape, it sounds like a guess. and maybe almost suggested or Approved by the agent. I'm not saying this takes ALL the responsibility off of your hands... but it helps the case but more importantly I think my "guy" would have said "Still going high, huh???" The number was more than 2x I made last year. I got approved while i was on the phone. for a random limit that was 3-4 times what I thought they would approve me for. IF you start of with a joke, they will stop you when it sounds reasonable... just saying. These reps/agents sometimes come across like robots... but break that and all of a sudden you're talking to a fellow human, a friend helping you, rather than just a human computer punching in data for you. Great video! I plan on getting a new Amex every year or 2 for the next 14- 38 years! :) :) :)
The only thing I can relate to in your statements is to check all three credit bureaus to make sure all my information is the same and up to date. I'm in the process of buying a used car so hopefully there aren't any discrepancies that is hindering me from getting a loan. Thanks.
I had no issues with saying retired. I got approved for a few cards and one even asked me for bank statements showing pension payments...thanks for the info
@@DAYONE1952 And, looks like he doesn’t know! You almost have to say retired, otherwise how are you going to say employed if you’re not?? I don’t think he knows what he’s talking about!! Being retired is a ‘guaranteed’ income, I would think! Don’t have to worry about losing your job! 😁😬. And, he said if you’re retired you’ll be spending it all and not have enough to pay your cc, well so can an employed person!! ( How dumb.) And, if you ARE retired you can’t lie because they can tell by your age!
I was looking for info on personal credit, but this video seems to be strictly for people seeking business credit. I’d adjust the title because this would definitely help people who are seeking business credit
I'm intimately familiar with most of what you shared - but it's still GREAT info for the average person. Entrepreneurs (especially people new to owning a business) can always use good info like this.
Wow. Thanks for this. I have not been getting automatic approvals, my TransUnion report is like 80 points lower than my Equifax and Experian (both are in the mid-700s, I recently got approved for an AMEX at a lower limit than I think I should've been when compared to someone with a lower score than me got with the same credit union but different card brand got, and my auto insurance rate is way higher than it should be. What gives??!! Running to FB now n to join.
In addition to not sounding like somebody to avoid, You can also just do an end run around the entire system and write a letter (Yes a physical letter) to the executive team for that credit card company. My first credit card gave me a limit of $300 and that pissed me the hell off so I found who to complain to. Someone from the executive team called me back, they redid my application and it turned out that I was actually qualified for $30,000. That is a heck of a difference. Also if you're getting your first credit card, you definitely do not want a $30,000 credit card because you will not learn how to use it responsibly. Lol
I've been making the mistake of checking "retired" & wondering why they limit me to $15K even though my rating is 830, an estimated income of $250K, and no debt. "Retired" is a red flag. I knew something triggered the standard 15K limit, but wasn't sure what it was. My new title will be "fund manager".
This means SO MUCH to me, Rosalyn!! You'll ABSOLUTELY get results!! YOU GOT THIS!! You're doing amazing! I appreciate YOU and hope you have an AMAZING day!!
So if you ever get bored and see this, I filed bankruptcy on my own in 2014. Ever since, I could only get a car loan, a business, loan, a Discover prepaid credit card, A Grover gadget, and a student loan. I believe in driving for Uber and Lyft so much that I’ve been fighting to have a working vehicle of my own and not $400 a week rentals. I want a Tesla and won’t want to work for Rideshare again until I can get an environmental friendly car no matter how reliable combustion cars are. The EV tax credit seemed like $4,000 would get me in but didn’t. Sometimes I have to hop onto an Uber rental to get my bank statements to help me prove my income. I’m going to subscribe and see if your videos answered some of my questions already but if you can. My Uber riders would be thrilled to have someone who just takes them from point A to B with no strings attached back on the road.
I use combined income with spouse, I've paid off my cc and only use 2-3. Discover cc is my main card but use one to pay an app subscription $10/month. Then I'll rotate one of my other cards for gas or something then pay it off the following month. I've been able to raise my score and get increases that way. I don't go crazy and spend on the cards.
Retirees do not get rejected when applying for credit cards. I know many retired people who have applied for credit cards since they retired. My mother, my aunt, and my friend constantly get pre-approved credit cards. My mother and my aunt cut them up as they have too many credit cards. However, my friend received three new credit cards.
Retirees with good credit scores and history, have savings and/or retirement accounts with substantial amounts, not in much debt or manageable for their income, low rent or high equity in a home, will have minimal issues to get a credit card. Older persons will be careful not to get into heavy debt. I recently got a Quicksilver MC from Capitol One although retired but I have reasonable rent, low debt (mainly a car loan), a nice amount in a Capitol One 360 Savings Account (which is paying .40% interest) that will be used to pay the card as well and an excellent credit history.
@@leonb2637 Wait a minute! You are getting .40% interest in your savings account at Capital One bank? I get 3.30% interest in my savings account and .10% in my checking account at Capital One (my third bank). I get 2.0% at my main bank, which is my first bank. I am earning 3.0% in my savings accounts (two savings accounts) at my second bank. I am earning 3.75% on the funds in my fourth savings accounts. I am earning 4.15% on my money in my fifth savings account. Lastly, I am earning 6.0% on the funds in my sixth savings account. I figured that these banks are probably competing with each other due to the different interest rates (not sure). However, I did not know that people can have money in the same banks and earn different interest rates.
![KSI - Thick Of It (feat. Trippie Redd) [Official Lyric Video]](http://i.ytimg.com/vi/tXEPbotEjZE/mqdefault.jpg)
Naics/sic code it helps to select one favorable for lending and the higher the personal credit the more you can get away with stating higher limits
SO TRUE!!
@@RadikalMarketer SO WHAT DO YOU PUT DOWN OF YOUR ON DISABILITY
What is the NAICS/sic?
@@anteperic2836 North American industry classification system and standard industrial classification that's what they both mean and it basically tells your business type specs naics/sic.
@@newsnowmikecopp6332 sounds retired if you can't work
I financed my car at my credit union. The woman who did the paperwork told me exactly how the interest accrued. So she suggested I take my payment and split it in two. So I paid half on the 15th and the other half on the 25th. She said I would pay off the car 1 year early and I did! Banks won’t tell you this.
Thanks for watching and posting this! I appreciate you!
You’re making the equivalent of 13 monthly payments per year
I’m confused how does that work if you aren’t paying extra? Just splitting it in half paying the same Total
@@bandokazoowee1024 if you pay monthly then it mean you are paying 48 weeks (4w*12mo).
If you are paying bi weekly then the total weeks that you pay will be 52weeks (52w in a year). Hope this help
This isn't about making more payments, it's about making part of the payments sooner so you pay off your principal slightly faster and slowly save more and more in interest. Imagine waiting until the end of the month to make your payment vs. making half the payment on the 15th, whatever you paid toward the principal for that 15th payment isn't accruing interest until the end of the month. Saving a few bucks a month over a few years can add up quickly.
Note that this depends on when and how they apply payments. Not all lenders apply payments or calculate interest on the day they're made. Some may only calculate interest monthly so it doesn't make a difference if you pay on the 1st or last day of the month.
This video was worth watching just for the “self-employed” part. I’ve been self-employed for years and it never occurred to me to be a negative!
From now on, I’ll list the business name. Thanks
Appreciate your feedback and wishing you all the best my friend!!
Hope you're doing well. Blessings!
eh idk, I've put self-employed and never had any issues.
It can be an issue with some companies. I've experienced it before.
I'm self employed and get the best offers I've ever received.
9minute video and this guy dropped more gold nuggets than lots of the 25 minutes videos out there. I know quite a bit about credit repair myself but this guy shared info that many credit repair companies and/or experts never share.
Join the group! I promise you won’t regret it!
@@Thatruth379 ok consider it done.
Facts
WOW DREW!!! Your words mean so much to me!! Thanks for taking the time to write this comment and for watching!
JOIN our FB GROUP!! ALWAYS HERE FOR YOU!!!
Have an amazing Holiday Season and thanks again!! I appreciate you!
THANKS FAM!! APPRECIATE YOU TURQ
Have a great day my friend!
I'm never asked any of these questions and I accept about five or six pre-approved offers a year for no-fee, cash-back cards that pay me $150-$300 for spending $500 or $1000 in the first 90 days of having the card (easy)....My credit score hovers between 805 and 840 consistently and I haven't paid a dime of interest to a card in over 20 years.... My secret is that I use the card accounts as de-facto checking accounts and pay them off weekly and therefore I'm always ahead of billing by weeks....I collect every one of the sign-up bonuses and a fair amount of cash back because I use the cards for groceries, gas, utilities... literally anywhere I can use a card, I do it, then pay off weekly...
Appreciate you sharing this info here fam!! You're a LEGEND!!
Have a great day fam! I appreciate you!
+1 Except that many short term credit card applications will bite you in the behind when you stop having enough earned income . You need to have one that you keep active and use it regularly with enough evolving balance that its credit limit is enough after you retire.
I do the same thing - I keep a tally in my phone where I start off the month with the amount I have for spending (this means *after* budgeting for bills). If I start with a spending amount of, for example, $500, then every time I spend on something that is not budgeted, I immediately take that amount from my $500 total and keep a tally til I get paid again and the beginning amount goes up to $500 again. I use a cash-back credit card for all purchases and automatic payments (like insurance, car, etc). When I get paid (once a month), I know I have that money ‘saved’ to pay off the entire balance, so I do not pay interest. I use the cash back reward for Christmas presents. Works for me.
So you open a credit card every few weeks ? Lmao
Good for you, but not everyone can do what you do. Fine for those who can.
all hail the mighty youtube for being able to learn financial literacy for free... I totally understand why they dont teach you this in school. thanks for your channel bro
APPRECIATE YOU, GENE!! Doing this for the #RadikalNation!! More sauce dropping very soon!!
Appreciate your support!! Have a great day my friend!!
Robert Kyosaki's Rich dad, Poor Dad is a real eye opener, as far as the financial system is concerned.
Wow! I’ve been putting I’m self employed never thought about it being a bad thing lol thanks so much! This is my 1st video and I will be watching many more! Ty again for sharing this info! We need more citizens like you to inform us! Keep up the awesome job
Let's get it Dionna! Any video you'd like to me to cover next? We'll gonna crush it!!
Appreciate you ! Have an amazing day!!
Yea self employed sounds temporary or risky to the banks/lenders. I work in banking on the loan origination side and we deny roughly 68% of self employed applicants. It’s sad but true. And it’s because of the high failure rate of these businesses for all kinds of reasons such as the market headwinds. Or the business my last more than 3 years but not really ever turn much of a profit. Lastly we see a lot of small businesses not pay taxes and so their businesses have tax liens to pay.
Awesome info bro!! Appreciate it!
I don’t know if you’ll see this, but what do you put if you are actually retired?
@@michelehoward4113My question too.
I always put "retired" on credit card apps and never get turned down. I make more than I did when I was working with my pension and Social Security so that probably helps.
Same here
Me too I’m retired and my income is guaranteed by that.😊
Appreciate your comment and input here, Sherrell! Hopefully everything goes well for you.
Have a great day!!! Appreciate you!
What do you suggest to use instead of “retired”?
@@sammieseoul5544 Amex Platinum doesn’t have a hard credit line. It’s a charge card, not a credit card.
I had to go back and rewatch this video several times. So many gems dropped, thank you ✨
Your most welcome. I appreciate you!!
I live for your content! I could be working, cleaning or driving I’m listening to your CC plays, daily 🙌🏾🙌🏾🙌🏾🙌🏾🙌🏾
You're the best!!!!!!!!!! WOW so HUMBLED by that ... ALWAYS here for you Angel!!!
Have an amazing day my friend!
Yuppppp!!!!!,That's a snapple fact lol
YAYYYY!! Appreciate it a lot!!
I constantly get pre-approved credit card offers and I shred them and pitch them into the garbage. Just because your income is retirement it doesn't mean that you will be turned down for credit!!
ya, that really threw me back w/the retired bit. So, he didn't bother to tell us just WHAT to put down instead of retired, or, did I miss it? No, he didn't. We HAVE to put down SOME type of income, so what do we do? I'm not lying on an application
@@prayhard8746start a business and make yourself an employee and make deposits to your business account from another bank account
The least costly way to get a high credit rating is to save up about $1000 and then take out a secured loan on your own money! You will pay a simple interest, most financial institutions will let you set up an auto pay program. Just make sure you remember to add the amount of the interest or more to the balance to insure you can fully repay the loan. Then just repeat it every time you pay off the loan get a new secure loan. That way you get really high credit with only paying simple interest, by far the least expensive way to get a high credit rating!
Thanks for posting this Rich!! I appreciate you!
Have a great day!
I have been doing this for at least 16 years, figured it out when I was a loan officer.
Sounds like what my Dad told me 15yrs ago... Worked too😛
@@staceystancil9911 Where do you take out these secured loans at? Do u mean a secured credit card?
@@GoGoOpie share secured loans taken out at credit unions
First time on your channel, really enjoyed your down to earth explanations of why you do or don't. Makes understanding things easier for those us who focus in life is outside of finance. Will be looking for more RUclips videos.
This is the GREATEST group out there by far!
We LOVE YOU DONALD!! Thanks for being apart of the community!!
Appreciate you!
Look what’s making its way back around again.
This was probably the BEST credit series ever on RUclips!!
Bro this video won’t stop getting views. So crazy it came back again to you. Thanks for this feedback
SELF program reports to all three credit bureaus - as you save your money while building your credit. If you're disciplined enough to do it for 2 years, you receive most of your money back once the loan reaches its goal. My credit went up 53 points after merely opening the account. I choose to pay $150 per month, but you can choose lower amounts. After 3 payments you receive a MasterCard with a limit of $375. Randolph Brooks Federal Credit Union (San Antonio, Austin, Central Texas region) also offers a "credit builder" MC card.
YOOO Austin!! APPRECIATE what you share here!! Hoping you're enjoying the videos. What videos would you like me to cover next? Will do it for ya!
I appreciate you! Have a GREAT DAY!
Before I even watch your video, I'm going to thank you in advance because your intro was ON POINT! Now then, let's get into it...
LET'S GOOOOOO!!
I appreciate you! Have a great day man!
Side note from my experience that ran into with a line of credit loan instead of a credit card was the employment services section caused a big difference in an online approval amount. I am in skilled trades but our company was purchased by retail company. When I did the online app and select maintenance and repair, I was offered a lot higher amount than when it was just set for retail business even tho I already had my income and employment filled out. That one drop down box was allowing around a 10k difference in offer that I was approved for.
Thanks for watching and commenting! I appreciate you!
Open mind
I was a Paralegal for almost 40 years. Would it be better to just list Paralegal? In my area, they are making good money now.
@@m.griffith3865 the money is in LDA! If you can manage to run a business of your own. It's not for everyone though.
MICHAEL SUMNER,
ME BEING RETIRED MAKES ME FEEL SCREWED!
I BUILT AN FHA HOME ON MY OWN BACK IN THE 80'S BUT I HAD PERFECT CREDIT, AND WAS 27.
THINGS ARE SO DIFFERENT NOW.
IS THERE A REAL NUMBER TO THE FHA OFFICE? I'M IN LEXINGTON, KY.
THEY POST ALL OF THESE FAKE NUMBERS ON LINE BUT THEY TURN OUT TO BE A FRAUD.
THANK YOU.
MARG GRIFFITH
Much appreciated. What you taught us in this clip is so valuable that no one can put a price tag on it. Big salute to you Bro.
Appreciate YOU, man!! Love sharing knowledge with everyone!
Have a great day!!
Radikal Hughes back at it on an early morning show! We love you brother!!!
WE LOVE YOU MORE BROTHER!! Rise and GRIND and SIEZE the DAY!!
I feel like an idiot. I didn't know how the algorithm worked.
Thank you for mentioning it so I can give creators like you your due.
Your amazing thank you Amanda. I appreciate you
Appreciate the tips! Almost 40K, I remember when it was just 11K. You drop some serious game!
JACK!!!! YOU ARE THE BEST my FRIEND!!! Let's keep growing together!!! ALWAYS here for you!!
Thx for rocking with me since the beginning... YOU HELPED this channel to grow!!
Appreciate you so much!!!
Thanks for the advice,I was definitely going to apply for business credit.I am glad I happened to see your video before I applied.I am retired and interested in real estate investing, I almost sabotaged myself because I was going to put this on the application.Thanks again I really appreciate it.
Glad it was helpful!!!! Always here to help you Orlando!!!!!!
MUCH SUCCESS IN ALL YOU DO MY FRIEND!! I appreciate you!
Have a great day!
@@RadikalMarketer dan...could not find the contact info for innovis, sage, core, or lexisnexis...where are they?
What should you list instead of "retired"?
@@debworkman5616 My question exactly!
What did you put again if you lie you got to prove?
Extremely excellent advice! The videos keep coming and the knowledge keeps flowing baby! BAM!!!
LEADERS serve others FREELY!! Let's change the game brother!
😊😊😊
Radikal Hughes is breaking records baby ! His video library of reviews are priceless! Let's support Dan and put the word out. His voice is our voice. We got your back buddy. Keep rollin those vids daily.
Prreeeeaaachhhh!!!!
Let's break all these recordss brother!!
You're pitch is so cold and convincing, I am going to like and subscribe at 0:54. Keep that approach!!!! Now let me hear you out...
This video was really helpful! A mini check list honestly.
I"M SO GLAD it was helpful!! Share it with others if you feel it would help them!!
Have an amazing day my friend! ALWAYS here for you!!
Real talk.
Appreciate the support as always!!
I am a new subscriber and want to thank RUclipsrs like you who find these gems of information for us!
My friend!!! glad to have you on board!
Welcome to the channel!!!
Appreciate you for taking time out of your day to watch and comment!!
Have an amazing day bro!!!
I got approved for a store card and it was the first one that I have ever seen , that uses net income instead of Gross to determine credit worthiness. I believe that this is the more accurate means to use , because it is a reflection of what you actually bring home after taxes . I have seen mortgage companies use Gross income to convince people they can afford more of a house than they can reasonably afford . That’s how we arrived at the crash in 2008-2009. These lenders didn’t care that people would be biting off more than they could chew because the mortgage was guaranteed by the taxpayers and we would be left holding the bag, for their bad lending practices .
I agree!!
Thanks for watching Jennifer!! I really appreciate you!!
That didn’t cause the crash. Our credit is prepaid by our birth certificate and ssn account. You have unlimited credit
@@saqueradry3629 don't fall for that
Well actually the crash was due to too many adjustable rates nothing was fixed so once they started adjusting to insane balloon figures no way to get paid double and triple the mortgages
I subscribed after watching three off your videos short and full of information. Thank you!! 🙂
Welcome to my channel, Tanya! Hope you're enjoying the videos! HAPPY that you are a part of this community!!
Have a great day fam! I appreciate you!
Game changing video right here and you are ALMOST to 40k!!!!
So close!!!! Hopefully today or tomorrow!!
One issue you have with not saying you're self employed and putting your company name instead... when they ask for POI, they want paystubs which you don't have if you're self employed, sole proprietor, or some types of LLC. You'd need an S Corp minimum to issue yourself paystubs.
Appreciate your comment and input here, fam!! Hope everything goes well for you!
Have a great day my friend!!
Can’t you show them a bank statement? There is always documentation that you make income:
Thanks for posting this comment, Michael!
You can put yourself on payroll as sole proprietor, or LLC and you can elect to file an 1120S. I’ve done it for years
I stopped getting into debt three years ago. I decided to sell the housei still owed. With the money left over, downgrade to a smaller house and paid cash for it. Totalled my new problematic truck, and bought me a used truck cash. Now i don't have a mortgage or a truck payment. I did away with full coverage insurance. My property taxes went down 50%. I don't pay homeowners insurance anymore and save those $3500 a year in a separate savings account. I no longer indulge in unnecessary luxuries. I decided i have nobody to impress. I just like the fact that i have less stress and building up my piggy bank. I stopped using credit cards and now pay cash for everything. It's a small dent but I'm satisfied not giving banks my hard earned money, less property taxes to the government, and no money to insurance companies. Fuck credit. All cash baby!
Thanks for your comment and thanks for watching
I'm retired and have gotten mortgage loans, car loans with no problem.
Thank you for creating this video! Very informative and positive personalities! Always helps!!
Thank you i appreciate you!
This channel has grown so much! I’m so proud of you! Thank you for everything you do for us! 🙌🏾🙌🏾🙌🏾🙌🏾
I APPRECIATE YOU SO MUCH!! You have been rocking with me for a minute!!
Always got your back!! If you ever need a video made i'll make it!!
Happy New Year!! Thx again for EVERYTHING!!
@@RadikalMarketer We appreciate you as well! Always keeping us laced with the latest gems! Keep doing your thang bro! Greatly appreciated! 🙏🏾
We keep on going my friend!!
Great information. I recently retired. My credit score is 808 and I was turned down for a loan because of my debt/income ratio. I know the retirement status is what waved the red flag. What can I use as an alternative? I'm waiting on the up coming video. Thank you.
Great Advice here in the vid....
Never put "retired" or "self-employed" on credit card applications, as they are red flags. Provide realistic income that can be justified, and use the name of your business instead of "self-employed." Ensure all personal and business information is consistent across credit reports. Key moments: 01:36 and 06:55 .
Thanks for posting this!! I really appreciate you!
This is a dope video and it needs to be shown. Thanks for the jewels fam.👊🏽✌🏾
Appreciate you Keith!! Thanks for the nice words fam!!
Thx for your support!
Salute !!! Excellent video post. This information is just what I need for acquiring business credit. This is valuable info. Thanks Radikal Marketer.
Glad it was helpful! Update us how much business funding you'd get okay?
Whatever you want to put on your application, make sure you can & will pay back your loans responsibly.
Also, using betweek 6 and 11% of your credit limit gives you the most credit score points.
Using more than 30% of your limit may go against you.
I know... why do they give you a high credit card limit, only to punish you for using it?
Appreciate you for asking that Georgy!
I'll definitely have to make a video about it down the road .
Keep on being awesome my brother!! Have an amazing day!!
Punish? It’s called business. They make profits off of people who don’t have any self discipline
Appreciate you sharing your feedback, Michael! Blessings!
I intentionally put in 10% lower. I was asked one time to prove for a visa infinite privilege and they were surprised I made more and the limit was increased 😆
NICE!!!!!! Thanks for posting this and for watching!!!!! I appreciate you Emmanuel!!
Have an amazing night!
I was asked for a card also to prove income. I uploaded my income tax return. I made sure that what I said matched, what it said & was approved for the card.
Thanks for sharing this, Latachia!! Keep going! Have a great day!!
1:33 Start
1:58 Retired and Self Employed
3:10 Income Too High to Low.
5:01 Business NICS SIC Code
6:31 The Why...
7:30 Is about making sure all Burruals are all with the correct info and all are saying the same thing.
Thanks for watching David! I appreciate you!
if you can find a way to monetize doing this Menu on every RUclips video... you'd be a Billionaire. By Monday.
And In case you're reading this on any day other then Sunday: that would be "By Tomorrow".
Thank you this niggas intros are mad long
@@RadikalMarketer for self employed, what if I am delivery driver? I put the apps i work for?
Thanks
Hello I only listen to the first statement not to write on credit application and totally agree. I am a landlord and and the fastest way for me to denied the application is retired and self-employed. Experience has taught me that it there will be problem getting the rent.
Thanks for posting this comment, David! Appreciate it!
Hope you're having a great weekend!
I've never been happier than when I paid off all my credit cards, put all that debt behind me and pay cash. 57 years on this earth, that's the best financial position I've been in. Credit cards and credit card debt sucks and I've been up to my eyeballs in it.
That's simply because you don't know how to use it responsibly.
Thanks for watching and posting this comment Steve! I appreciate you!
Have a budget have emergency savings never carry a balance pay in full and on time. It's all self discipline.
Dave Ramsey is that you?
How did you do it
Just came across your site....great information. Hope people listen and act on what you provide.
Keep it up.
Wow!! Thanks for your kind words Myron!! Hope to have you watch other videos down the road!!
Thanks for taking the time out of your day to watch and encourage me... I really appreciate you my friend!
As usual terrific information, that I'd never heard anywhere else. Thank you!
YAYYY!! Happy to hear this, Steven!! Will absolutely be dropping more GEMS very soon!!
Appreciate you fam!!
My first time watching.. I’m about to see what this is about! 🙏🏾
Welcome to the Channel Eric!!
I really appreciate you watching and posting this comment!
Have a great day my friend!
Only got through the first one and this video already provided value.. As usual, thanks R. M.
Welcome to the channel Brother!
I really appreciate you taking time out of your day to watch and comment!
Have an amazing day my friend!
I am self employed with a credit score of 798. I always get offers & never get turned down for a cc. ✔️
Well you have a CS of 798....of course you never get turned down
AWESOME!! Thanks for watching James!! Appreciate you!
@@DrFabulous1 credit scores don’t always matter ! Ppl with low scores with good credit profiles can get good credit lines.
Thanks for posting this, Jaylyn!!
I been putting self employed for 20 yrs. At one point I was putting self employed, when I had a job too. I have never been declined a credit card if I had a good credit score. However, I always did put the name of my business.
LETS GO!!!!!! THANKS FOR POSTING BRIAN!!
I really appreciate you my friend!! Have an amazing day!!
I believe the easiest way to get approved for credit is to actually have a steady job, as boring as it may sound. I used to be an entrepreneur and now I work in a normal day-job. It's quite a difference in your credibility if you have a steady monthly pay-check versus trying to make it from month to quarter, to fiscal year, as a "business-owner".
Appreciate this info fam!! Happy that you are a part of this community!!
Have a great day my friend!
lmao. i seriously can't believe i just came across this video. i been on this for a grip man. never expected to randomly click on your video hahah. good to see you out here livin' fam
James! That is an amazing question! Thank you for asking this ...
I will do an updated video to explain in detail.. It's easier for me to do a video and thoroughly explain it!!
I appreciate you!
Excellent information, I've passed along this information for years. Unfortunately nothing will overcome the all-mighty credit score in most cases.
Appreciate you sharing your experience here fam!! YOU GOT THIS!!
Have a great day my friend!!
My mom is retired, has a 813 credit score, and never gets turned down for any card. Of course she doesn’t apply anymore, but gets pre approved offers monthly.
Awesome! Thanks for watching and sharing!
Excellent advice! I'm so glad I RUclips recommended your channel to me 😀
He is a real deal! Check out his other videos!
Appreciate that!
THANK YOU SO MUCH!! ALWAYS here for you!!
SO happy the RUclips Universe connected us!! Have an amazing day!!
We're welcoming all the new rads salute!!!
@@wealthabundance6344 I think we can get this video to 1 Million!!!
O M G!! So much RICH content. Wow! I've learned so much from you. I think I'm in LOVE! 😉😉
More gems coming for the #RADIKAL family!! We gotta crush it!
Appreciate your support! Keep staying Rad!
Just found this channel & I really appreciate this type of valuable information. Thank you!
Welcome to my channel, fam! Hope you're enjoying the videos! HAPPY that you are a part of this community!!
Have a great day fam! I appreciate you!
Disagree. I’m retired from the federal government and self-employed and disclose both. Both incomes are high, my credit scores are high, and I never have issues getting approved for loans or credit cards.
Thanks for watching!
Likewise, I am a retired Naval Officer with very Nice retirement income, I have Zero issues obtaining Any Credit be it Credit cards or personal loans of up to 50k (at 10.99%).
Same here
Well obviously if you have a high credit score, that’s what your approval is based on NOT you being self employed or retired. Lol
@@bdotnicole then don’t say so not ever put retired or self employed lol
sweeeeet ima follow and put it into practice. much lov bro
I got you!
This may one of the most important videos ever published if not the most!
Let's get it Gil! Any video you'd like to me to cover next? WE'LL GONNA CRASH IT!
Appreciate you ! Have an amazing day!!
This, for some reason, caught my eye. Live within your means and you’ll not have any credit issues!
Thanks for watching and commenting Mark! Have a great night
My Stage 4 Cancer Chemo and Keytruda treatment costs were not within my means. I did it anyway. Been in remission for 2 1/2 years. But medical collections are affecting my score. I guess if I hadn't gotten treatment and died, my credit score would have been much better.
@justicemarketinghq8180 hi fam! I wish you the best in life. God is always there. I'll pray for ya! ♥️
You basically listed everything not to do that I do I need some serious guidance I'll just watch you and follow your lead thank you so much for a great source of information 🙂
You're very much welcome Nicole.
I'm back on RUclips too. Have you joined my Private Facebook Group yet?
@@RadikalMarketerwhat’s your private group
Most of these questions I've NEVER seen asked before as it pertains to "Credit Card" applications. In fact, any credit card applications I've ever filled out an "underwriter" has never been in the mix whatsoever. I think this is about attempting to get a loan at a bank for an actual "credit application"... NOT credit CARD application.
Thanks for your feedback and thanks for watching Jason! Have a great day
Any type of lending is underwritten, that's your contract with the lender. Its either automatic which is computer generated, or manually which is what happens when you aren't automatically approved or denied. The computer kicks it out for whatever reason and it goes to an actual person, or underwriter for review.
Yes they do I just got 3 credit cards and they asked those questions
Great info, Allie!!
Hope it went well for you fam!!
I happen to come across your video and I like what I see so I will follow your example when I apply for my business credit card.😊
Cheering for you, Joseph! YOU GOT THIS!! Have a blessed day!
Just subscribed, some great information. Very different from some of the other RUclipsrs. Definitely useful. This is my first time watching and I've already learned a few things. Thanks so very much.
WOW Deborah thanks so much for taking time out of your day to watch and give feedback.
I'm glad you found some value in the videos and i hope i can keep delivering more over time.
Thanks for the sub!
I appreciate you and have an amazing weekend my friend!
So this is where the journey began lol
YESS!! This is where the journey began!!
Good morning 🌞 keep sharing your knowledge we APPRECIATE YOU ❤️
LORI!!!!!! I appreciate you more sis!! Have an amazing day!!
My father is retired and he churns with me (self employed) between the two of us we have over 30 cards. The next two vacation is basically free. This might be good advice for your first card but if you already have an established history with no late payments , banks don’t care.
Appreciate you posting this and thanks for watching!!
KEEP CRUSHING IT!!! Have an amazing day!!
@DL ... I hope that I can ask you two things ... (#1) Can you explain what you mean by "churning"? (#2) Also, what do you mean by the last sentence -- that if you have good credit history, then banks don't want you? Is that correct? [Maybe @RM will answer too.]
@@RadikalMarketer @RM ... can you answer the question that I asked @DL if they don't answer. [Thanks in advance.]
@@PoeLemic Churning means signing up for credit card and hitting spend requirement (using bills that you're already going to spend anyway) for the sign up bonus. If you have good credit and good payment history, banks will not care if you're employed, unemployed or whatever. They only care that you're able to pay your bills on time. If you're unemployed and your credit history shows that you swipe 5000 dollars a month and paying it off, you can bet any bank would love to have you as a customer.
Love what you shared here, DL!
I like this guy.he speaks the language because he is for the people.
You're the BEST man!! And it's good to be back together with amazing people like you! Can't wait to crush it again!
Appreciate you brother!! Stay blessed too!!
I have no problem getting approved for credit using self-employment. Never had a financial review. Usually they ask the name of the business and the industry. But I have a good to excellent credit as well. That might be the reason. Also I am regularly getting pre-approval offers.
Thanks for sharing! Thanks for watching!!
What is the transaction account?
Can you use debt to pay a debt? We do it ever they debit/debt just remove the I in debit an is there a difference between a credit card an Accepted card? Lol!
I agree! I’ve been self employed for awhile now and I never had any problems getting approval for loans or credit cards. I believe banks looking at your credit profile and expenses like rents/mortgages, car payments, in order to determine your credit worthiness.
Same, i would almost think its the other way around....like they would assume since you manage a business you probably have enough responsibility to pay your bills and make responsible financial decisions. Self employed you have to do your own taxes (or pay someone) keep track of paperwork, invoice clients, collect with clients, get your own clients, price out work accordingly....I would think a self employed person would be better with financial responsibility in most cases.
Absolutely on point. Everything has to line up. I have 100k credit line. I use all my cc constantly. However i pay them off monthly. My utilization is 1%. Its so ease and fun. Im currently. Expanding business credit now. Its a slow steady walk of progress. Yes.
WOW I love this comment!! Thanks for taking the time to watch and post this comment!!!
Have an amazing day Wayne!! I appreciate you!
Teach my your magic 🙏🏽
How do you credit card Stack to equal to $100k in line of credit?
Yeah right good try
Excellent!!
I’ve put self employed on all my cc applications to date; going on 21 cards including cibusiness cards, never been an issue
Me to.
Awesome thanks for posting your experience and thanks for watching!! I appreciate you Greg!
Have a great day!
Me three
I think its more so an issue for buying homes. But if you have good dti and can show consistent income youre fine
@@Maturelyme you can buy a home if self employed. Mortgage lenders use bank statements and tax documents to prove you have income
First timer. Great job Buddy👍👍
WELCOME TO THE CHANNEL MY FRIEND!!
Thanks for watching and posting this comment!!
I appreciate you!
💚Thank you for the tips… I started with a Discover Card to build my credit from nothing.👍🏽
Wonderful!!!! GREAT WAY to Build Credit from NOTHING!!! Thanks for sharing Alisa!! I appreciate you!!
Have a great day my friend!!
@@RadikalMarketer You too!!
For sure! For sure!!
Thank you for spreading your knowledge. I love love your videos.
You are so welcome!!!! I appreciate YOU more than you know ROCKSTAR!!
Have an awesome night NamasteBri88!
Citi Master card approved me for $3500. I’ll advise anyone that It is best to have a minimum of one unsecured credit card aside from your debit card (which is your own money) for back up purposes.
I fully agree with you!! Thanks for watching and posting this!!
Have an amazing day!
Which citi card? Did you get that as your first cc with no credit history?
Which SIC codes are high risk? I love the valuable jewels you give to us. I am sharing your channel with everyone I can think of
That is an amazing question, Stacey!! Thank you for asking this. I will answer this soon!!!
I appreciate you!
Definitely appreciate your information thank you
My pleasure!
I believe it is, and have found it was best to call and speak to a rep. when I applied for my AMEX. I think they get credit for all accounts open. But regardless if they do... they take apps all the time. You can pick up cues BEFORE you give an answer. And if you're good at fielding (fishing) for the right answer, they can actually steer you toward what will work. I said XYZ for my current Income and when he asked about Projected, I joked and said "20 Million... waited for fake chuckle and said... oh you mean THIS YEAR?.... waited for a little more real chuckle..." so now we're kind of not as serious, (everything is recorded) so i asked him what is normal, but before he could answer I just asked him: "well how about ABC?" he said, "ok, that sounds a little more reasonable"
If any one would listen to the tape, it sounds like a guess.
and maybe almost suggested or Approved by the agent.
I'm not saying this takes ALL the responsibility off of your hands... but it helps the case
but more importantly I think my "guy" would have said "Still going high, huh???"
The number was more than 2x I made last year.
I got approved while i was on the phone.
for a random limit that was 3-4 times what I thought they would approve me for.
IF you start of with a joke, they will stop you when it sounds reasonable... just saying.
These reps/agents sometimes come across like robots... but break that and all of a sudden you're talking to a fellow human, a friend helping you, rather than just a human computer punching in data for you.
Great video!
I plan on getting a new Amex every year or 2 for the next 14- 38 years! :) :) :)
Thank you for the support Brother! Appreciate you!
Have a great day!
I'm self employed and only time I was turned down for cards or loans was when my score reflected me as a risk. Hence the quality score on your report.
Thanks for watching and commenting Christian! Appreciate you!
You are the best out of all ive watched❤❤❤
APPRECIATE THIS, LAURA!! Means SO MUCH to me!! Keep being amazing! Have a great day my friend!!
The only thing I can relate to in your statements is to check all three credit bureaus to make sure all my information is the same and up to date. I'm in the process of buying a used car so hopefully there aren't any discrepancies that is hindering me from getting a loan. Thanks.
Cheering for you and wishing you all the best, Clifford! Appreciate you sharing these! Keep rocking!
Great info !! Keep up the good work
BET!! More gems coming for the #RADIKAL family, Cornell!! We gotta crush it!
Appreciate your support! Keep staying Rad!
I had no issues with saying retired. I got approved for a few cards and one even asked me for bank statements showing pension payments...thanks for the info
That's great!!! Thanks for sharing this comment and for watching!! I really appreciate you!!
have a great day!!
@@RadikalMarketer ...
Sooo...exactly WHAT are you supposed to say on the credit application if you ARE retired 🤔 ?
You didn't tell us THAT part!
@@DAYONE1952 - I want to know also.
@@DAYONE1952 And, looks like he doesn’t know! You almost have to say retired, otherwise how are you going to say employed if you’re not??
I don’t think he knows what he’s talking about!!
Being retired is a ‘guaranteed’ income, I would think! Don’t have to worry about losing your job! 😁😬.
And, he said if you’re retired you’ll be spending it all and not have enough to pay your cc, well so can an employed person!! ( How dumb.) And, if you ARE retired you can’t lie because they can tell by your age!
@@Melinda8162 Right on, Ms. Ruby...That Part!! You stated it ALL so very eloquently and accurately!!
Thank You 👌😊
Love your energy and Information!💎
Thanks for watching and commenting my friend!! I really appreciate you!
I was looking for info on personal credit, but this video seems to be strictly for people seeking business credit. I’d adjust the title because this would definitely help people who are seeking business credit
Thank you for the support Brother! Appreciate you!
Have a great day!
I'm intimately familiar with most of what you shared - but it's still GREAT info for the average person. Entrepreneurs (especially people new to owning a business) can always use good info like this.
GLAD you're enjoying the video! I really appreciate your effort to watch and comment!! Have a great day, Rick!
Wow. Thanks for this. I have not been getting automatic approvals, my TransUnion report is like 80 points lower than my Equifax and Experian (both are in the mid-700s, I recently got approved for an AMEX at a lower limit than I think I should've been when compared to someone with a lower score than me got with the same credit union but different card brand got, and my auto insurance rate is way higher than it should be. What gives??!! Running to FB now n to join.
Let’s go fam!!
Appreciate you!!!
In addition to not sounding like somebody to avoid, You can also just do an end run around the entire system and write a letter (Yes a physical letter) to the executive team for that credit card company.
My first credit card gave me a limit of $300 and that pissed me the hell off so I found who to complain to. Someone from the executive team called me back, they redid my application and it turned out that I was actually qualified for $30,000. That is a heck of a difference.
Also if you're getting your first credit card, you definitely do not want a $30,000 credit card because you will not learn how to use it responsibly. Lol
Appreciate your comment here. Hope everything goes well for you too!!
Have a great day my friend!
I learned a lot about establishing credit from this video
Great video! This was extremely helpful
Hope you're enjoying the video, Ethan I really appreciate your effort to watch and comment!! Have a great day!
I've been making the mistake of checking "retired" & wondering why they limit me to $15K even though my rating is 830, an estimated income of $250K, and no debt. "Retired" is a red flag. I knew something triggered the standard 15K limit, but wasn't sure what it was. My new title will be "fund manager".
Be cautious cause anything over about 150-175k will still trigger proof of income. As long as you can prove with 1099 or W2 that 250k cool.
Thank you for the support Glenn! Appreciate you!
Have a great day!
Sounds like solid info. Thanks for sharing
Let's get it Cecil! Any video you'd like to me to cover next? WE'LL GONNA CRASH IT!
Appreciate you ! Have an amazing day!!
You are a God send Mentor that I wish I have now in life to get RESULTS
This means SO MUCH to me, Rosalyn!! You'll ABSOLUTELY get results!! YOU GOT THIS!!
You're doing amazing! I appreciate YOU and hope you have an AMAZING day!!
Thank you. Learned a lot from this video. Cheers
Let's get it Barry! Any video you'd like to me to cover next? WE'LL GONNA CRASH IT!
Appreciate you ! Have an amazing day!!
Pre Pandemic I'd put self-employed, no problem w/approvals. Now, no way. Agreed, you're the employee at your company.
Thanks for watching Kathy!! I appreciate you!
Have a great day!!
Informative. The reason you're here starts at the 2:00 mark.
Thanks Scott for posting the timestamp and for the encouragement
Have an amazing day my friend!
So if you ever get bored and see this, I filed bankruptcy on my own in 2014. Ever since, I could only get a car loan, a business, loan, a Discover prepaid credit card, A Grover gadget, and a student loan. I believe in driving for Uber and Lyft so much that I’ve been fighting to have a working vehicle of my own and not $400 a week rentals. I want a Tesla and won’t want to work for Rideshare again until I can get an environmental friendly car no matter how reliable combustion cars are. The EV tax credit seemed like $4,000 would get me in but didn’t. Sometimes I have to hop onto an Uber rental to get my bank statements to help me prove my income. I’m going to subscribe and see if your videos answered some of my questions already but if you can. My Uber riders would be thrilled to have someone who just takes them from point A to B with no strings attached back on the road.
I use combined income with spouse, I've paid off my cc and only use 2-3. Discover cc is my main card but use one to pay an app subscription $10/month. Then I'll rotate one of my other cards for gas or something then pay it off the following month. I've been able to raise my score and get increases that way. I don't go crazy and spend on the cards.
LOVE IT!!! AMAZING STRaTEGY!!! Thanks for sharing Alex!!
Hope you been well brother!! CRUSH IT TODAY!!
Major key!
You got that right!!
Retirees do not get rejected when applying for credit cards. I know many retired people who have applied for credit cards since they retired. My mother, my aunt, and my friend constantly get pre-approved credit cards. My mother and my aunt cut them up as they have too many credit cards. However, my friend received three new credit cards.
I got $50,000 worth of credit cards and personal loans all with just my VA comp & penn.
Retirees with good credit scores and history, have savings and/or retirement accounts with substantial amounts, not in much debt or manageable for their income, low rent or high equity in a home, will have minimal issues to get a credit card. Older persons will be careful not to get into heavy debt. I recently got a Quicksilver MC from Capitol One although retired but I have reasonable rent, low debt (mainly a car loan), a nice amount in a Capitol One 360 Savings Account (which is paying .40% interest) that will be used to pay the card as well and an excellent credit history.
@@leonb2637 I wish that were the case but I'm working on it! Time, it takes time, but it will happen.
Appreciate your comment here, Gail! Hopefully everything goes well for you. They all DESERVE it!!
Have a great day!!! Appreciate you!
@@leonb2637 Wait a minute! You are getting .40% interest in your savings account at Capital One bank? I get 3.30% interest in my savings account and .10% in my checking account at Capital One (my third bank).
I get 2.0% at my main bank, which is my first bank. I am earning 3.0% in my savings accounts (two savings accounts) at my second bank. I am earning 3.75% on the funds in my fourth savings accounts.
I am earning 4.15% on my money in my fifth savings account. Lastly, I am earning 6.0% on the funds in my sixth savings account. I figured that these banks are probably competing with each other due to the different interest rates (not sure).
However, I did not know that people can have money in the same banks and earn different interest rates.
No one provides more useful information than you, A+!
WOW!! Thank you so much for this comment... You mean so much to me!! Thank you for ALL of your support
Have an amazing weekend my friend!!
Thats Facts, and I'm literally watching a trading video as we speak ,you do crypto too or just stocks etc.
Crypto yesss!!