I want to say is thank you!!! this information is priceless, that I have gotten from your videos today. They have changed my way of thinking, therefore changed my life. Thank you so much for sharing and keep the videos coming. This is something that's not taught in schools, therefore, my parents couldn't teach me. But I'm now able to teach my children and other members of my family. Thank you.
It's hard to get used to something that's not " natural" but the man explained it step by step. Don't criticize, follow the steps for yourself. Nice, CJ
Makes complete sense only problem is that are people not going to use the available credit. People often get in credit card trouble by using available credit as disposable income.
@mikeg329 Thank you for your comment and for subscribing ;) If you're interested in discussing further, you can click here to get on my calendar: calendly.com/g12group/velocity-channel If you'd like to stay in the know with the latest Velocity Banking Methods, subscribe here: sendfox.com/velocityc Look forward to working with you. Go forth and prosper!
Your logic is wrong my friend. The $2500 item actually cost, $2500 plus 125$ in interest for a total of $2625. You cant stand there and say that "the $2500 item only cost $125 because you paid off the credit card and still have the $2500 available to you"! It's nonsense logic. You still had to go to work and use your income to pay down the $2500 purchase, and you were charged $125 in interest. WHAT AM I MISSING?
ty your awesome, and for the people who dont get this video FOR EXAMPLE you have a balance of $1,000 on your Credit Card you take your paycheck from work the entire check on the card then pay bills from the card, which will eliminate the credit card payment it's - showing the bank that your paying your card down extremely fast and then will more than likely get a credit increase!
This Brother giving out KNOWLEDGE. For those that don’t understand just keep watching it. I appreciate it. I’m here because Herbalist Kareem from 4cyclesoflife told me about you Brother keep at it
After the debt hits 0 you still have to use $700 of credit to cover the expenses for that month bringing the debt up $700( plus interest). Next month you pay that off leaving you with $600 (minus interest). For the final month you can just use $100 of credit and then pay that off. You need a total of 5 months to be out of debt which is the same as if you were to use the 600 you have in cash flow.
The irony is that velocity banking isn't about paying of the mortgage its about increasing your LOC limit rapidly so that you can advance to better methods that dont use interest to pay of interest. Keep your credit use at 30 % of your credit limit unless you want to it to drop your credit score :)
Frankie, no need to use a "hard" step by step "something" if you do what Imatter said. When he says the balance is 0 there still are $700 in expenses at month 3. $600 cash flow time 3 is $1800. Beginning balance 2500 -1800=700. Why is a system needed?
Listening to your videos. Decided to apply for another Cash back LOC, was looking for the free 150$ after spending 500$, super easy, figured out how to do it instantly and make huge profits. GOT APPROVED FOR 10K. My LOC is now 20K over a few cards... 23 y/o.
Imatter Udont... what he shows us here is a way to leverage $2,500 to work for you now and pay a fee of $97.50 over four month. If you make money on that money, you can keep it and have a gain versus paying off the debt of 2500 only. At the end, he mentioned using that money to invest so that is what it is about. Making money make more money and hoping to gain at least your cost to break even but even more... wanting to double it and see real progress. Read my comment 3 above to see how I only came up with 97.50 and not 125 paid in interest. Hope that helps.
Connanjay Wallace, thank you for this information and thank you for keeping up on your post... your replies to people are a very good sign of your commitment to us! I love it brother! Please keep it up.
Like the video!! not the colored markers. Can’t see them! This video was filmed in Portrait not Landscape, so your broad shoulders blocked a lot of the board. I’m excited about this and still trying to pick it up. Even if you don’t show subtraction on the board, will you point to the numbers? You did that here, but I couldn’t se them. ☺️ Thanks for sharing!
So this pretty much ignores credit utilization right? If you’re carrying over balances but dumping your checks into your credit card to pay it down over time. Won’t you still take a hit that very first month if you maxed your card out? 2500 dollar limit and it’s maxed the first month. Your balance is 2500 with a minimum payment of about 50 or so. Your checks are about 1100 after taxes. You dump your entire check into your credit card which knocks the balance down to 1400 plus about 500 in expenses so 1900. However, that 2500 dollar balance was reported to the credit bureaus which will hurt your score. Does paying more than the minimum or dumping your check offset that negative impact with an on time payment? I see the concept, but you’re technically maxing your credit card AND carrying over a balance. Yes the balance will be paid off quickly but that initial hit is what I’m worried about. I don’t wanna take no hits on my credit. Especially not when utilization is worth a bulk of your score. Unless you just don’t care about that and make on time payments. Idk... I think too much.
I dont think the credits will see the full 2500 because you will have already made a payment before the statement comes out. Try to withdraw at the beginning of the month so you get your check in before the credit card statement comes out.
Everyone saying this is bullshit doesn't get it. This is all about leverage. Leveraging other people's money. Hopefully you're using the leverage for something that will help better your success and not stupid material things.
Wow !! you just pre ran the exact story of my life! I need exactly 2500 to invest into my line of work that would make me 50-60k in 5 months. Problem is finding and getting approved for that card. I’m looking for info/ knowledge everyday. If I can get help I’m a sponge right now
I don't think you still HAVE $2500. You have access to $2500 of debt. Please don't confuse access to credit and capital. If you truly had $2500 you would be free to say, buy $2500 worth of Starbucks stock. Currently Starbucks pays ~2.25% annual dividend. So at 30% interest that $2500 "you still have" would cost you -27.5%. If you kept that stock and the debt 5 years, you will have paid more the $2500 in interest and have a net worth of maybe $100.
Well, you have access to that $2,500 of debt, which you can use to buy an asset, at the cost of $150. So in the end of this loop, you end up with an asset worth $2,500 with an investment of $150, which is what, 1600% ROI over a 4 month period? But that's just interest. You paid principal itself as well, which was $2,500. For me, the main takeaway is that for a cost of borrowing of $150, you bought a $2,500 asset.
I think you missed the point. You use all of your income to keep the balance low therefore keeping interest low making it not cost more than $2500. You may pay $2700 total for the investment, but you still have the investment after the debt is paid pack in less than 6 months.
so if you had 2500 in Starbucks stock, you would gain the dividend, but it also can move in the market... for better or worse. Limit you loss to 10 or 15% if that is what you like but let the gains roll and hope to gain some real value or maybe a split giving you double the value... it happens.
Outstanding info but if you have a credit card with $2500 limit but there is $10,00 already being utilized on the card does this method still work just probably would take longer to pay off?
So you had to add the first 30 dollars of interest to the $1,900 and then recalculate and so on. It will not be $125 more like $147. No big difference but it is the right calculation.
I disagree when you said you only spent $125 because you still have $2500. Actually you already spent the $2500 your job paid you to replenish the $2500 the bank loan you. The bank still has their $2500 but your paycheck is gone .
Hello, great video thanks. I have way too many bills on autopay to put all my spending on my line of credit. Why do I have t put all my spending on the line of credit? Say I have $500 positive cash flow every month. I am trying to pay off my mortgage. Say I use my line of credit to pay $5000 towards my mortgage, and then use my credit line to pay $5000 to my mortgage. Would that work? Thanks
This sounds good but mortgages, car loans and other stuff sometimes make you have to come out a checking account. So this sometimes can’t be accomplished. I need help with this one.
Hey man, thanks a ton for this video explanation. I'm in a situation where I'll get a loc if I use a similar amount as collateral. I have 10k in savings and I'm trying to pay off 7k. Can I do this in my case, by using the money sitting in my savings as collateral? Thanks, God bless!
Akshit Singh Dutt yes. That’s a secured line of credit. It will work the same way and it should help you build your credit so you can get an unsecured loc in the future.
sleepy tyme he said he has to have collateral in order to qualify for the line of credit. So if he paid off the loan, he wouldn’t be able to use the loc to rebuild his credit. Gotta build for the future!
I dont get it cuz you just paid off the balance with ur spread and paid an extra $125 so how did this make sense? Wouldn't it be better to save ur money unless this video is about getting more credit...
@@botalton1271 I have used it multiple times. There are some promos out there where you get 0.00% on your first 500.00 you use and they also had a promotion on using a mastercard it would be free for use under 250.00 per transaction. So it just is something I use on a promo basis usually. I am thinking about using it more doing this Velocity banking strategy, however I want to model it out in a spreadsheet to make sure it works for me. I am trying to find a spreadsheet online that shows Velocity Banking. Anyone out there have one for free?
Good question, he is just paying the bill more than the minimum. But a cool way to do other things is to take your card and over pay it... say it has a max at 1000. If you pay 2000 to it, you will have an ability to spend 1000 before it taps into your balance. This is good if you need to buy something that costs more than your card's max amount. You should ask your bank what they will do if you overpay... ask them if you can just charge it and will they honor it since the money is there already. Each bank can be different, I am not a banker or bank so I would ask your specific bank in that scenario. Hope that helps
Can someone help me please? I have 6300 line of credit right now but I don’t have a major credit card yet. I made a mistake when I was younger and only went for store credit cards but I’m going to apply for a major one soon. I’m wanting to do this method to pay off 20,000 in student loan as soon as I can. Someone please explain to me what I need to do.
If your credit score is good enough, the. you should alpply for a credit card from Pentagon Federal Credit Union at 0% interest for the first year. Withdraw from your line of credit and balance transfer it to the credit card so that you accrue no interest and just pay down the prinicle every month. Use the cash to make a lump sumayment to your student loans. Themn pay down the credit card until it can be used again. Every 90 days ask for a crdit limit increase and you will get it since you are using your crdit card and paying it down fast. After the 0% interest runs out go and apply for another credit card and repeat the process until you are debt free. After that buy whole life insurance, stocks, bonds, and rental properties.
Can’t use my credit card to pay my rent or my car loan has to b cash or debit..nor can I use credit to pay off other credit card bills..Every thing else I do use my credit card for.. It wld nice to b able 2chunk dwn on my car loan..another credit card card I hve but it’s at zero for 5yrs..
Hi I don't know WHERE to start! My credit score is 589😕. The highest CL I have is 1,000 and I owe on my mortgage. CAN YOU PLEASE PLEASE HELP ME? Love your videos! ♥️
The amount of people who think they're qualified to give financial advice on RUclips is rediculous. It's an epidemic of misinformation. The sad thing is, this guy really thinks he's helping people. But he and those who buy into this just don't understand the numbers. They're making a subtle error with potentially large consequences. edit: missing word
@@velocityc Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org I look forward to hearing from you. I haven't a clue what you meant by this comment. Is it code?
Vince D. Maybe he forgot, or he just applied the 1300 against it immediately to bring the amount being credited to 1900. In your case, it would be 160 total interest. In my way, it is 97.50 total interest. I see what you are saying and I think he moved quick on his numbers and missed putting the correct ones in. You would get the initial 62.5 for 2500 / 47.50 for 1900 / 32.50 for 1300 / 17.50 for 700. The next month, load it up and do it again and pay the 1300 immediately to the new 2500 and on and on. Hope that helps.
I want to say is thank you!!! this information is priceless, that I have gotten from your videos today. They have changed my way of thinking, therefore changed my life. Thank you so much for sharing and keep the videos coming. This is something that's not taught in schools, therefore, my parents couldn't teach me. But I'm now able to teach my children and other members of my family. Thank you.
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
It's hard to get used to something that's not " natural" but the man
explained it step by step. Don't criticize, follow the steps for yourself. Nice, CJ
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
@@velocityc I need assistance with paying off my private student loans fast $30k and federal loans $70k.
Makes complete sense only problem is that are people not going to use the available credit. People often get in credit card trouble by using available credit as disposable income.
CJ you're right on it, i got a secured discovery card for 2500 and in 6 months they sent me ck for 2500 to make my discovery card unsecured.
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
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Brothwr I love this channel. Been doing this for years and just stumbled on your channel. Love your info my friend
@mikeg329 Thank you for your comment and for subscribing ;)
If you're interested in discussing further, you can click here to get on my calendar: calendly.com/g12group/velocity-channel
If you'd like to stay in the know with the latest Velocity Banking Methods, subscribe here: sendfox.com/velocityc
Look forward to working with you.
Go forth and prosper!
@@velocityc just signed up for august 1st in the morning. Looking forward to speaking with you.
@@mikeg329 awesome! Looking forward to it
Your logic is wrong my friend. The $2500 item actually cost, $2500 plus 125$ in interest for a total of $2625. You cant stand there and say that "the $2500 item only cost $125 because you paid off the credit card and still have the $2500 available to you"! It's nonsense logic. You still had to go to work and use your income to pay down the $2500 purchase, and you were charged $125 in interest. WHAT AM I MISSING?
How much logic can you expect from a whiteboard video shot in portrait mode?
Yeah this video is a big lie
You are a blessing! Mathew,Mark, Luke, John, and CJ.....
I watched so many velocity videos from multiple channels & I have to say you made this super easy to understand... thank you so much & god bless
ty your awesome, and for the people who dont get this video FOR EXAMPLE you have a balance of $1,000 on your Credit Card you take your paycheck from work the entire check on the card then pay bills from the card, which will eliminate the credit card payment it's - showing the bank that your paying your card down extremely fast and then will more than likely get a credit increase!
This Brother giving out KNOWLEDGE. For those that don’t understand just keep watching it. I appreciate it. I’m here because Herbalist Kareem from 4cyclesoflife told me about you Brother keep at it
After the debt hits 0 you still have to use $700 of credit to cover the expenses for that month bringing the debt up $700( plus interest). Next month you pay that off leaving you with $600 (minus interest). For the final month you can just use $100 of credit and then pay that off. You need a total of 5 months to be out of debt which is the same as if you were to use the 600 you have in cash flow.
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
Why would you pay interest? Most credit cards give you one month of grace.
This is know my Blueprint. Thank You CJ
Sir, that was brilliant!!!
I had to watch it a few times but now I get it lol. Credit card with a point system would be even better.
Great informative video but it could be better if we could see what u are doing on the board. Maybe put the camera at a different angle.
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Velocity Channel can you film in landscape too ? Just subscribed
The irony is that velocity banking isn't about paying of the mortgage its about increasing your LOC limit rapidly so that you can advance to better methods that dont use interest to pay of interest.
Keep your credit use at 30 % of your credit limit unless you want to it to drop your credit score :)
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
Frankie, no need to use a "hard" step by step "something" if you do what Imatter said. When he says the balance is 0 there still are $700 in expenses at month 3. $600 cash flow time 3 is $1800. Beginning balance 2500 -1800=700. Why is a system needed?
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
Listening to your videos. Decided to apply for another Cash back LOC, was looking for the free 150$ after spending 500$, super easy, figured out how to do it instantly and make huge profits. GOT APPROVED FOR 10K. My LOC is now 20K over a few cards... 23 y/o.
Great video CJ 🔥🔥👍👍
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
My morning motivation!!! You uplift me every time.
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Now that I can always see the back of your suit. Im interested now of buying new suit instead of doing financial business.
Why don’t you just use the $600 cash flow to pay off the $2500 debt?
Aren’t you still paying $100+ in interest total?
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
Imatter Udont... what he shows us here is a way to leverage $2,500 to work for you now and pay a fee of $97.50 over four month. If you make money on that money, you can keep it and have a gain versus paying off the debt of 2500 only. At the end, he mentioned using that money to invest so that is what it is about. Making money make more money and hoping to gain at least your cost to break even but even more... wanting to double it and see real progress. Read my comment 3 above to see how I only came up with 97.50 and not 125 paid in interest. Hope that helps.
Connanjay Wallace, thank you for this information and thank you for keeping up on your post... your replies to people are a very good sign of your commitment to us! I love it brother! Please keep it up.
Great video!! I'm going to use this method to get rid of my 50k credit debt!! Thanks so much
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
Thanks bud, I{ve watched a few other similar videos, and you tied some points for me.Cheers!
Like the video!! not the colored markers. Can’t see them! This video was filmed in Portrait not Landscape, so your broad shoulders blocked a lot of the board. I’m excited about this and still trying to pick it up. Even if you don’t show subtraction on the board, will you point to the numbers? You did that here, but I couldn’t se them. ☺️ Thanks for sharing!
I totally use velocity banking but i wish that when you explain it you would account for interest.
Great video, but I wish you would’ve put the information/board higher, so I can see better
So this pretty much ignores credit utilization right? If you’re carrying over balances but dumping your checks into your credit card to pay it down over time. Won’t you still take a hit that very first month if you maxed your card out?
2500 dollar limit and it’s maxed the first month. Your balance is 2500 with a minimum payment of about 50 or so. Your checks are about 1100 after taxes. You dump your entire check into your credit card which knocks the balance down to 1400 plus about 500 in expenses so 1900.
However, that 2500 dollar balance was reported to the credit bureaus which will hurt your score. Does paying more than the minimum or dumping your check offset that negative impact with an on time payment?
I see the concept, but you’re technically maxing your credit card AND carrying over a balance. Yes the balance will be paid off quickly but that initial hit is what I’m worried about.
I don’t wanna take no hits on my credit. Especially not when utilization is worth a bulk of your score. Unless you just don’t care about that and make on time payments. Idk... I think too much.
I dont think the credits will see the full 2500 because you will have already made a payment before the statement comes out. Try to withdraw at the beginning of the month so you get your check in before the credit card statement comes out.
Thank you!! This information is amazing!!
Everyone saying this is bullshit doesn't get it. This is all about leverage. Leveraging other people's money. Hopefully you're using the leverage for something that will help better your success and not stupid material things.
What if you're doing this bi-weekly
Super clear. Thanks
I want to do this but right now I have a cc that 1000 I make more than that in my monthly income. should I still put my whole paycheck on my cc
Wow !! you just pre ran the exact story of my life! I need exactly 2500 to invest into my line of work that would make me 50-60k in 5 months. Problem is finding and getting approved for that card. I’m looking for info/ knowledge everyday. If I can get help I’m a sponge right now
Smoky Jo Harris get an Apple Card. They’ll give you the $2500 and they’ll give you three months to pay it off
Great velocity banking sir!!
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I don't think you still HAVE $2500. You have access to $2500 of debt. Please don't confuse access to credit and capital. If you truly had $2500 you would be free to say, buy $2500 worth of Starbucks stock. Currently Starbucks pays ~2.25% annual dividend. So at 30% interest that $2500 "you still have" would cost you -27.5%. If you kept that stock and the debt 5 years, you will have paid more the $2500 in interest and have a net worth of maybe $100.
Well, you have access to that $2,500 of debt, which you can use to buy an asset, at the cost of $150. So in the end of this loop, you end up with an asset worth $2,500 with an investment of $150, which is what, 1600% ROI over a 4 month period?
But that's just interest. You paid principal itself as well, which was $2,500.
For me, the main takeaway is that for a cost of borrowing of $150, you bought a $2,500 asset.
I think you missed the point. You use all of your income to keep the balance low therefore keeping interest low making it not cost more than $2500. You may pay $2700 total for the investment, but you still have the investment after the debt is paid pack in less than 6 months.
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
so if you had 2500 in Starbucks stock, you would gain the dividend, but it also can move in the market... for better or worse. Limit you loss to 10 or 15% if that is what you like but let the gains roll and hope to gain some real value or maybe a split giving you double the value... it happens.
Conanjay Wallace website doesn’t work
You did not add the interest charges each month.
Brian Dix he’s keeping in basic in an understandable way Brian ... imagine this with a card that’s % interest for the first 12 months ☺️
Thanks CJ 🔥🔥🔥info the right way
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Definitely counterintuitive...but logical.
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Landscape, my guy.
Outstanding info but if you have a credit card with $2500 limit but there is $10,00 already being utilized on the card does this method still work just probably would take longer to pay off?
Loved it, thanks!
So you had to add the first 30 dollars of interest to the $1,900 and then recalculate and so on. It will not be $125 more like $147. No big difference but it is the right calculation.
I disagree when you said you only spent $125 because you still have $2500. Actually you already spent the $2500 your job paid you to replenish the $2500 the bank loan you. The bank still has their $2500 but your paycheck is gone .
You are amazing! God bless you.
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I look forward to hearing from you.
Hello, great video thanks. I have way too many bills on autopay to put all my spending on my line of credit. Why do I have t put all my spending on the line of credit? Say I have $500 positive cash flow every month. I am trying to pay off my mortgage. Say I use my line of credit to pay $5000 towards my mortgage, and then use my credit line to pay $5000 to my mortgage. Would that work? Thanks
Let’s talk: creditwiz@investorpro.org
Thank you!
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You're awesome man
You’re awesomer!
Wouldn't it be the same as paying 600/month?😔
Nice CJ!!!!
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*THANK YOU SIR.*
This sounds good but mortgages, car loans and other stuff sometimes make you have to come out a checking account. So this sometimes can’t be accomplished. I need help with this one.
you would go to www.plastiq.com if a credit card isn't accepted
Credit cards is a start. You eventually want to get some sort of personal line of credit that can be used to be pay anything
Some loc's you can write a check
Hey man, thanks a ton for this video explanation. I'm in a situation where I'll get a loc if I use a similar amount as collateral. I have 10k in savings and I'm trying to pay off 7k. Can I do this in my case, by using the money sitting in my savings as collateral?
Thanks, God bless!
Akshit Singh Dutt yes. That’s a secured line of credit. It will work the same way and it should help you build your credit so you can get an unsecured loc in the future.
@@OregonCashFlowPro thank you sir!
Why don't you just pay off the 7k with your savings. Still get the line of credit though so you have back up while you bring your savings back up.
sleepy tyme he said he has to have collateral in order to qualify for the line of credit. So if he paid off the loan, he wouldn’t be able to use the loc to rebuild his credit.
Gotta build for the future!
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What’s the best line of credit to get ? Do you refer a specific bank
I can see
so frustrating watching your back trying to see where figures go
I dont get it cuz you just paid off the balance with ur spread and paid an extra $125 so how did this make sense? Wouldn't it be better to save ur money unless this video is about getting more credit...
I'm sorry..I don't understand how you get a line of credit..no one ever says. Why were you multiplying and dividing all those numbers?
Barbara Jordan he did that to show you the interest you will owe for each month for using the credit card.
@@davionmitchell7506 thank you
You’re welcome
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How can you pay your mortgage with your credit card?
You can use Plastiq.com but there is a 2.5% Fee
@@jeffhudak1981
Have you tried plastiq?
I read reviews about it not paying on time
@@botalton1271 I have used it multiple times. There are some promos out there where you get 0.00% on your first 500.00 you use and they also had a promotion on using a mastercard it would be free for use under 250.00 per transaction. So it just is something I use on a promo basis usually. I am thinking about using it more doing this Velocity banking strategy, however I want to model it out in a spreadsheet to make sure it works for me. I am trying to find a spreadsheet online that shows Velocity Banking. Anyone out there have one for free?
Ooh ok thanks for that info. I'm using my discovery card for velocity banking. Justy haven't paid house note with it yet.
@@botalton1271 Let me know if Plastiq.com works for you. I'm not sure if Discover is accepted through that system. I know Visa and MC is.
How can you put money into a credit card
You simply pay $1300 to your credit card. That’s what he means by putting money into you credit card.
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Good question, he is just paying the bill more than the minimum. But a cool way to do other things is to take your card and over pay it... say it has a max at 1000. If you pay 2000 to it, you will have an ability to spend 1000 before it taps into your balance. This is good if you need to buy something that costs more than your card's max amount. You should ask your bank what they will do if you overpay... ask them if you can just charge it and will they honor it since the money is there already. Each bank can be different, I am not a banker or bank so I would ask your specific bank in that scenario. Hope that helps
Can someone help me please? I have 6300 line of credit right now but I don’t have a major credit card yet. I made a mistake when I was younger and only went for store credit cards but I’m going to apply for a major one soon. I’m wanting to do this method to pay off 20,000 in student loan as soon as I can. Someone please explain to me what I need to do.
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I look forward to hearing from you.
um..o.k. if you have a l.o.c. run all your expenses through your line and pay it off monthly for 3 months or more and you WILL get a credit card...
If your credit score is good enough, the. you should alpply for a credit card from Pentagon Federal Credit Union at 0% interest for the first year. Withdraw from your line of credit and balance transfer it to the credit card so that you accrue no interest and just pay down the prinicle every month. Use the cash to make a lump sumayment to your student loans. Themn pay down the credit card until it can be used again. Every 90 days ask for a crdit limit increase and you will get it since you are using your crdit card and paying it down fast. After the 0% interest runs out go and apply for another credit card and repeat the process until you are debt free. After that buy whole life insurance, stocks, bonds, and rental properties.
charles keeton great idea
Can’t use my credit card to pay my rent or my car loan has to b cash or debit..nor can I use credit to pay off other credit card bills..Every thing else I do use my credit card for.. It wld nice to b able 2chunk dwn on my car loan..another credit card card I hve but it’s at zero for 5yrs..
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
You keep getting in the way
But did I get in the way to you achieving your financial goals? Let me know.....creditwiz@investorpro.org
@@velocityc no I was talking about the information behind you
Can you do that to any credit card and thank for the information really appreciate
Yes
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Hi I don't know WHERE to start! My credit score is 589😕. The highest CL I have is 1,000 and I owe on my mortgage. CAN YOU PLEASE PLEASE HELP ME? Love your videos! ♥️
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
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I can't find a single person on youtube that can explain this in a way i can understand. Am i that dumb
I can explain it.... creditwiz@investorpro.org
You don’t need velocity banking. What you need is a budget.
This video helps explain why people go broke and they don't know what the heck happened. I am stunned people actually will follow something like this.
The amount of people who think they're qualified to give financial advice on RUclips is rediculous.
It's an epidemic of misinformation.
The sad thing is, this guy really thinks he's helping people. But he and those who buy into this just don't understand the numbers. They're making a subtle error with potentially large consequences.
edit: missing word
@@Mr.GoodKat57 I am truly amazed. This guy has 13,000 followers. This stuns me. I am thinking run real fast.
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
@@velocityc Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you. I haven't a clue what you meant by this comment. Is it code?
😯👌
You forgot the $62.50 for the initial $2500 balance. But I'm not here to bust your balls, I get the point.
Good point. But if you use a line of credit instead of a credit card, you don't have the cash advance charge like you have with a credit card.
Thank you for commenting! If you would like , I would love to have me your concerns: creditwiz@investorpro.org
I look forward to hearing from you.
Vince D. Maybe he forgot, or he just applied the 1300 against it immediately to bring the amount being credited to 1900. In your case, it would be 160 total interest. In my way, it is 97.50 total interest. I see what you are saying and I think he moved quick on his numbers and missed putting the correct ones in. You would get the initial 62.5 for 2500 / 47.50 for 1900 / 32.50 for 1300 / 17.50 for 700. The next month, load it up and do it again and pay the 1300 immediately to the new 2500 and on and on. Hope that helps.