CREDIT CARDS 101: When To Pay Credit Card Bill To Increase Credit Score
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- Опубликовано: 23 авг 2024
- Ever wondered when to pay your credit card bill to increase your credit score & avoid interest? THIS video will give you the answer and explain why :-) Click "Show More" to see Ad Disclosure.
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7 WORDS TO KNOW
1. Statement: Your bill, due each month
2. Balance: How much you owe (total of all your purchases)*
3. Billing Cycle: Period of time between 1 bill and the next (usually 28-31 days; we’ll assume 30 days in this video)
4. Open Date: First day of your billing cycle
5. Close Date: Last day of your billing cycle
6. Due Date: Day your bill is due
7. Minimum Due: Smallest amount you can pay for an on-time payment
*Note: Your balance may include purchases, interest, fees, etc.
STATEMENT / BILL
Your credit card statement is the same as your credit card bill (the words mean the same thing). It shows you how much you spent each month item by item, your interest rate, how much you owe, and a whole lot more. Get familiar with it ;-)
BALANCE
Your credit card balance is how much you owe to the bank. This may include all of your purchases, interest charges, annual fees, other fees, etc.
BILLING CYCLE
Your credit card billing cycle is the period of time between one bill / statement and the next. Each billing cycle lasts 28-31 days and includes the total amount you spent during that timeframe (reflected as your balance). Every billing cycle has an open date / opening date and a close date / closing date.
OPEN DATE / OPENING DATE
This is the first day of your credit card billing cycle. It’s NOT necessarily the first day of the month and it can be different for every card. For example, my American Express credit card had an open date of the 22nd of the month while my Discover credit card had an open date of the 17th of the month.
CLOSE DATE / CLOSING DATE
This is the last day of your credit card billing cycle. It’s NOT necessarily the last day of the month and can be different for every card.
DUE DATE
This is the day your credit card bill is due. It’s about 21-25 days AFTER your billing cycle close date.
MINIMUM DUE
The credit card minimum due is the smallest amount you can pay for an on-time payment. It’s usually 1% - 2% of your total balance. If you only pay the minimum due, the remainder of the balance will be charged interest. How to avoid credit card interest? Pay the FULL balance.
Q&A
Q1: When is the best time to pay my credit card bill / statement?
A: The best time to pay your bill is AFTER the Close Date but BEFORE the Due Date.
Q2: I have a small credit limit. Can I make payments early (during the billing cycle) to lower my balance?
A: Yes. You can make payments at any time, multiple times per month / cycle.
Q3: I heard I should use less than 30% of my credit limit. Is that true?
A: Yes / no. This is a general rule. The higher % of your credit you use, the lower your credit score. Keeping your utilization at 30% or lower helps keep your score higher each month. HOWEVER…Your utilization is reported 1X per month - NOT DAILY. With most banks, only the balance on your Close Date is reported to the credit bureaus (this becomes your utilization for that month / cycle). SO…Best practice is to have 30% or less utilized by your Close Date.
Q:4 If I buy something with my credit card and pay it off right away, will that help my credit score?
A: No. It could actually hurt it. Here’s why…
Your balance & utilization get reported ONCE per month. This happens on your billing cycle Close Date.
For that reason, the bureaus DO NOT see your DAILY utilization.
IF you pay off your charges every time you make them, THEN when your Close Date arrives, your reported balance will be $0.00 and your utilization will be 0%. On paper, it looks like you’re not using your card.
THAT MEANS the bureaus will not be able to properly score your payment history, balances, or utilization and those are the most important factors of your credit score!
SO…PAY YOUR BILL AFTER the Close Date BUT BEFORE the Due Date. This allows a balance to be reported to build positive credit history and avoids all interest.
THINK OF IT LIKE THIS…
- The bureaus DO get a single snapshot in time (a “picture”) 1X per month.
- They DO NOT get live updates 24/7 (like a movie).
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#creditcards #creditcards101 #creditscore
💥👉 *CORRECTION! (PART A)* At 12:07 I mentioned that the bureaus will not be able to calculate your payment history, etc. properly if you don't use your card at all. That was inaccurate. Even if you don't use your card each month, a $0 balance will still be reported as an on-time payment (a good thing!) 😃💯 HOWEVER, when a credit card becomes inactive for a long period of time, the credit card issuer might stop sending account updates to the credit bureaus. This could cause your credit score to become somewhat stagnant rather than growing over time (that's what I meant by "hurting your score" at 11:28). Furthermore, the card issuer could close your account due to inactivity. So at a minimum, I recommend using your card(s) roughly 1x every 6 months to keep them active. (I used to say 1x per year, but that advice had to change when Wells Fargo closed my oldest account after 10 months of inactivity) 😁#GoodTimes // *(PART B)* U.S. Bank is an exception. I just confirmed they report your balance on the last (business?) day of the month instead of on the statement close date. // Thanks to Steve for the initial correction in PART A & thanks to JB for mentioning U.S Bank in PART B!
@JohnnySilverfoot - Smart approach 💡💯 A quick gas station purchase is all ya need to keep a card active and that credit score in good shape!
Thanks, Mark! This is an excellent explanation! Finally got the answer to the question nobody could answer for years.
Regarding your correction added here, the question arises; what is the best way to make your credit score grow?
Paying the bill before the closing day( to be it $0 but to use your card) or still show some spending to credit bureaus and pay your bills after the closing date?
@@yurageorge1602 - In my experience, showing some use of the card may boost your score higher than reporting a $0 balance every month over the long term 😃👍 Utilization under 10% seems to be a sweet spot 💯
@@MarkReese Great then will go that way! Thanks, Mark!
@@yurageorge1602 - Sure thing! 😃💥
Watching this in my 30’s. I wasn’t taught this in high school nor by my parents in fact my parents never had any credit cards. Thank you for making these videos!
You're welcome, Kim! 😃 Great that you're educating yourself on credit. The _Credit Cards 101_ playlist has a bunch of similar videos that you may find helpful 🎬
@@MarkReese Subscribed!!!
@@kimv.a.l - Thanks a bunch, you rock! 🥇
@@kimv.a.l they don't want us to knew this so they can keep us in debt, taking every penny of ours
They don’t teach it because they want us stuck in the peasant class
I LITERALLY WENT THROUGH 12 OTHER VIDEOS BEFORE I STUMBLED ON THIS ONE. THIS BY FAR WAS THE EASIEST ONE TO UNDERSTAND ESPECIALLY FOR THE VISUAL LEARNERS LIKE ME. THEY SHOULD ADD THIS VIDEO TO THE EDUCATION CURRICULUM .MUCH THANKS.
Thanks so much! I’m glad the explanation and visuals were beneficial to you 😃🙌💥
pay cash .they should never teach credit and how to use
I second this. Every high school student should sit through this video.
Must you SHOUT???
Yes, he was extremely coherent and gave easy to understand direction.
I'm sharing this video with my teens.
Just saw this 2 years after it's been posted and it's the best explanation of how credit card billing works. You explain things in a succinct way, without unnecessary jargon, and help your points with simple visuals. This is the video I would show to friends & family to help them understand how credit cards work. Thank you, Mark!
Thank you, HJC! I'm encourage to hear the presentation format was beneficial 😃👍
They need to have this class taught in your senior year of high school
Totally agreed with you! 🎓💯
Have to keep americans poor to server the elite lol
I’m 40 years old. I realized along time ago. That most the teachers don’t know much about how business credit or how the real world works. U have to remember. Teachers have only ever really been in school. So if one of their teachers or professors did teach them this stuff they don’t know it.
They don't want you to know how money is really made from nothing.
@@johnsecord8539 - We need more entrepreneurship classes taught by former business owners who come from real-world experience 👌
I've sat through 9 hours of content between several presentations. This 14.5min video is the only one that explained it in a way that will enable me to implement the strategy immediately. Thank you!
Wow 9 hours is some dedication! 😁👌 Glad this one helped you in a much shorter timeframe! 💯
This is why my score hasn't increased at all since getting my credit card I was paying as soon as any balance is posted on my account. You're awesome, and I love the way you broke it down step by step so everyone can understand. I have to admit that I finally understand how to improve my credit score faster. This was relatively informative and educational. You have earned a new subscriber. Thank you for explaining how cc works. God bless you 👑🙏🏾
So glad to hear you found benefit in the video! 😃💯
It took me a LONG time (20 years) to figure this out on my own. Glad to see someone spell it out so clearly for others to better understand this credit game and how to use CC's to your advantage.
Hey Jon - great that you ultimately got it sorted out 😃👊 I hope this video reaches a lot of people to help them in their credit journeys!
Yes, it took me 20 years as well. I feel bad about not understanding it sooner, but grateful that I got it now 🙏🏾
@@chastaspikes7218 - Welcome to a better life chapter 😁👌
@@MarkReese thank you 🙏🏾
This year was my first time ever being interested in credit and building it up. I started out at 552 back in March and now I'm at 687 in October! It really is much easier than I've always imagined.
Boom! Congrats 😃👊💥 You're off to a great start.
How many accounts open you have? Meaning credit cards and loans?
How you do it less than a yr..Wow.. I went from 578 to 695 in 31/2 yrs.. sheesh
I have herd that explained several times, and this one by far was the best.
Thank you! 🙌🏆
Every time I hear it I get caught 👆. But not enough, 2 get tagged with late payments, high utilization ✅
@@ammooth1592 - What do ya mean? 😃
Seriously a light bulb just came on lol
I totally agree, even better at explaining it than google.
A lot of people could’ve used this starting out (including me)
Agreed 🏆 I hope a lot of people benefit from watching! 🎬🍿
@@MarkReese SO, my due date is 10/09 AND the next closing date is 10/13. So that means by 10/09 I need to have a 0.00 balance and use right away let’s say on the 10/10 just below 30% so once the 10/13 comes around it gets reported that I am using the card but only below 30%. Am I right?
@@crazyclown4782 - Just replied to your other comment 😃👍
I agree. I just finally decided to get a credit card and I paid my balance way early instead of waiting for the statement to be sent. I'll remember that this coming month!
@@chaddangler2046 - Awesome Chad! Making an early payment to have a lower balance get reported can help your score even more (that part was covered over a couple Q&A questions starting at 9:07) 😃👍 However, all that's required is to (a) get your bill and (b) pay the full bill balance on or before the due date.
This is the best presentation I’ve ever seen regarding WHEN TO PAY A CREDIT CARD BILL TO INCREASE ONE’S SCORE.
Thanks Reginald! 😃👍
You pay BEFORE you get a statement... dudes clueless...
@@mattlane2282 - Hey Matt, you can do that if you like 👍 Neither my way nor your way is the only way ✌️
The best way to build your score is to pay your balance down before the close date, to ensure the reported balance stays under 10%, then pay the rest by the due date to avoid interest.
So if your limit is $5000 and you have spent $3000, pay at least $2500 before the closing date so that your reported bill is $500, 10% utilization.
Not sure why this extremely short explanation wasn't in your TLDR.
Also, there is two separate reports for when the card was used but paid in full and when it was idle with no balance, so they really can see the difference between the months you used the card and paid in full vs the months the card sat idle. Paying in full before the statement got me to a 720 score, and would have continued to help had i not ran into employment issues.
👍 Do you work in the banking / credit industry?
I'm not even surprised that you have one of the best videos I have seen on YT explaining how credit cards work in regards to payment and your credit score. You're just that good! This is one of my new go-to videos to recommend to my students, mentees, and friends. Thanks!
Also, I never knew that having a 0% utilization before the close date would make it seem like you hadn't used the card for that cycle. Thank you for the heads up!
Thanks so much! 😃🎓
Oh my god! I wish I had someone like you as a teacher. All teachers are amazing but some of them don’t take enough time out of the day to make things as simple as you just did. 75% of my highschool teachers couldn’t have explained credit cards as well as you did just now. And they may have a good understanding of it but they just aren’t as good as explaining it as you are. Everyone new to this whole credit really appreciates your effort!
Thanks so much, Leonardo! Very glad to hear the step-by-step approach helped you 💳💯
Wow!! I scattered all over the internet reading articles, blogs, watching countless RUclips videos and I was literally about to go to sleep because my eyes hurt but decided to give this video the “last one and that’s it “ treatment and wow I do not regret it !!! BEST AND MOST DESCRIPTIVE VIDEO IVE WATCHED ABOUT CREDIT CARD information!! It literally helped me understand exactly what I was so confused about. Honestly if I could I would give you a hug man but a simple like and my subscription hope does the job. Thank you so much !
Glad to hear the video was helpful to you!
Wow! I've had a credit card for some years and this really helped bring everything together for me. I always pay my cards on time but I didn't really understand statement balances or the billing cycle. This makes perfect sense and I'm very grateful for such a thorough explanation! I wish I had this when I got my first credit card but I'm here and now I know how it all works, now I'm not intimidated by my reports and fully understand my bills and how to keep the highest score reported. Thank you so much!
So glad to hear you found value in it! 💥
I've watched so many worthless videos on this subject that always leaves me with more questions than answers. Your video is the first one that answered everything and then some. I like that you explain WHY instead of just telling us what to do, that really helps to make things clear and understandable.
So glad to hear it helped! 😃👊💥
My friend, im new to the whole credit system being at 20 years young. both my parents not being from this country and not having proper paperwork to build credit for themselves has been a factor in why i am so knowledge-less in credit as a whole. Thanks to this video, i understand for once. I'm set to get my first credit card sometime next week, i liked the video and usually don't hand out subs because i like to keep my feed to my basic watching but i seriously thank you for making it crystal clear and super into detail to the point where without even beginning my credit journey i actually understand it. Thank you and you have certainly earned my subscription
Thanks so much! Well done on doing your own self education, and I wish you the best on beginning your own credit journey next week 😃👍💯
After watching this video, I canceled my autopay on all 4 cards. I now have a reminder set for each month to schedule payment thats approx 1 week before due date.
Cool! Auto pay should still get your bill in on time. As long as the payment is issued *on or before* the due date, you're good to go 😃👍
You explained everything so clearly! I loved that you showed an actual bank statement so we could visualize where the terms were and what they mean. I also loved the color coordination!
So glad to hear it, Rosy! Glad you found it beneficial 😃
This was very clear and broken down effectively. I've seen many channels tackle this topic, but not in this level of depth and fashion. I found this to be very helpful, you got yourself a follower!
Appreciate it Brandon! Glad it helped! 🏆
Man YOU DON'T UNDERSTAND you helped me out ALOT !! Scrolling through constant videos even more confuse but @10:45 it all made sense. If no one told you again I appreciate the knowledge Mark. Just a New yorker trying to survive and grow in this economy thank you truly.
Glad to hear it man, keep that growth mindset! 👊🏆
One tip I learned is some CC issuers will also do early reporting (out of cycle credit bureaus updates) if you call in and request it. This is helpful if you carried a large balance that you didn’t pay before close date, and waited to pay just before the due date, and now need to get the bureaus updated to reflect the lower credit utilization.
Awesome thanks for sharing that, John! 😃👊
you're great at explaining things. Concise + your visuals are all perfect
Thank you Rasheem! 😃👊💯
The bottom line: *Pay off the balance due at the end of the billing cycle~*
Boom 😎👊💥
@@MarkReese will autopay create this same outcome?
@@nathanlangone8962 - Yep! 😃👊
I’ve watched multiple videos on this topic and I felt like everyone else was talking in circles and not getting to the point. But you sir were by far the best video! You broke it ALL the way down ! ❤️❤️
So glad to hear it helped, Chante 😃💯
Great Info! I was paying my bills right away thinking I was building credit… so glad to find this out early into my first credit card. Something I’ll carry the rest of my life! Thank you!
Hey Benny! To clarify, by 'right away' were you referring to paying your card after every purchase (i.e. a lot of payments per month)? Or were you still only 1 payment but right when you received your bill?
at first I was still confused but I continued to watch and holy crap this cleared up everything, schools should require this video to be shown to everyone. THANK YOU
Glad to hear it all got cleared up for you! 🏆
This Was The BEST EXPLANATION I've Watched Out Of All The "Statement & Due Date" Post.👍🏽....Smile
Thanks Toneshia! 😃👍💳
Man it’s great you give the blunt answer at the beginning instead of forcing people to watch the whole video.
😃👍
Excellent informational video. This should be mandatory for graduating seniors so when they go to college or begin working and get their first card or two, they don’t get in over their head with debt and interest. I’ve seen this happen to a lot of younger (and even a few older) people.
Thanks Tara! Totally agreed that this needs to be taught in school 🎓💯
I just started using credit cards and I’m very glad I stumbled across your channel. Thank you for the help!
Well done on beginning your credit journey; that's awesome! 😃👊 Glad to hear the channel is proving helpful to you 💯
You’re so amazing like they advertise you on here..thanks for the prepaid card cardmanager01cc on telegram 💪🏾💯 GREATEST CC 💼 imma got the big bag this covid time
Thank you for this video. I took a 50 point hit to my credit score despite paying my CC off in full before the due date. I had no idea the credit bureaus take the balance from the closing date instead of the due date. Now I'll be watching my closing dates to make sure I'm under 30% when it's that time.
Awesome, glad it helped clear things up for you! 😃👍 Fortunately, you can rebound easily.
Yea , that will bounce right back
I have a regular debit card with a bank for expenses. My plan is to get a secured card with Discover and only use it for gas and occasionally going out for fast food. Keeping my purchase amounts low and easily able to pay it off each time.
Sounds like a good approach!
How am I 48 and jist now learning this info!! 😲 I would always pay off most of my balances. Thank you. Im so showing this golden info to my 3 sons!!
Haha we all gotta learn at some point! 😄👍
This video is exactly what I needed. I just got my first credit card and I feel like I can't go wrong now Thank you so much!!
You got it! Congrats on getting your 1st card! 🙌
Thank you so much! I was truly struggling to understand the importance of all these dates until you explained it with all these visuals!
Glad it helped you Teresa! 😃💯
The clearest breakdown for this layman. Now I'll have to start waiting until after my close date to pay my balance.
Glad it helped! 💯
@@MarkReese Cheers mate very much appreciated.
Bravo finally some one on RUclips than can clearly and properly explains how to use your credit card. Best video on this topic so far 👍🏽
Thanks Luis!
I look forward to hearing and seeing your lectures again!
Clear and Concise 👍😷🙏🏾
Thanks Michelle! More to come 😃🎬
This is the most comprehensive video on when you pay your credit card bill that I have seen. Thank you very much for sharing 💯
Glad you enjoyed it!
Oh yes, thank you. Finally someone accurate rather than most people who repeat the same thing. I’ve been paying my credit card wrong for 3 years
Glad it helped ya out man! Now Year 4 can be the best year yet 😎👊
You’re so amazing like they advertise you on here....thanks for the prepaid card cardmanager01cc on telegram 💪🏾💯 GREATEST CC 💼 imma got the big bag this covid time
Mark you just blew my mind with the knowledge you passed along. I have never understood credit and how it works until now. I actually took notes...I drew the diagrams you presented. Thank you so much for this video. You really explained everything in the simplest terms but included so many tips and answered all my questions. I just hit that subscribe button.
So glad to hear it helped you, Twana! 😃💯 Go out there and win!
This was great way to explain it!!!! You should teach that in high schools or make a curriculum for it
Thanks Rolando! Agreed this topic (and many others) should be taught in school 😃💯
Very helpful. I understand that at the closing date is when the utilization gets reported to the credit card bureaus and any balance past due date gets charged interest. But no interest is charged until after due date 👍🏻. Thank you. This was very helpful.
Glad you found it helpful, Daniel! 💯
53 years old and learned something new and valuable today.
So glad to hear it, Erika! Education ought to be a lifelong thing 😃
You are so passionate about teaching newbies like me how to handle credit cards and bill payments. Thank you, Mark.
You're welcome, Nhat! 😃💯
Holy shit I never realize just how useful visually seeing it would be. I watched like 10 vids and this one finally explained it all to me in a way that makes sense.
Visuals for the win! Glad to hear it helped 😃🏆
You’re so amazing like they advertise you on here.....thanks for the prepaid card cardmanager01cc on telegram 💪🏾💯 GREATEST CC 💼 imma got the big bag this covid time
The only video that actually clearly explains the process. Kudos.
Glad you found it helpful, Ravin! 😃
THIS WAS EXPLAINED SO GOOD, It took me 4 videos to understand this. I thought I was slow at first 😂 I especially love the diagrams for visual learners ! thank you !!
Glad to hear it helped you, Sara!
Great video, Mark. Thanks for putting this together. One follow up question regarding utilization. You didn’t say this explicitly, but I take it the rule about paying your balance after the statement closing date should be modified if your credit utilization is really high, like 30% plus. In other words pay down at least some of that high balance before the closing date and before that high utilization rate is reported to the bureaus. Then pay the remainder after the closing date but before the due date. Is that right?
Hey J - yep, you got that right! 👊 If you've got a small credit line, or big spend compared to your limit, then it can be helpful to make 2 payments per month. 1 several days before the close date to bring your balance down that gets reported, and 1 more for the remaining balance after you get your bill.
Having that lower reported balance can help you attain a higher score even faster.
This video was absolutely excellent. So clear and it was EXACTLY what I was looking for! Thanks for making this so comprehensible 👍
You got it, Brandon! Glad the clarity helped you out 🙌
After watching a bunch of videos trying to understand this, I came upon your video and DEFINITELY THE BEST AND MOST CLEAR TO UNDERSTAND VIDEO YET! Thank you!!!
So glad to hear the video helped you, Katya! 😃💳
Wish I found this video a long time ago. It's one of the best and simplified videos I could find. I'm in my 40s yet never learned about credit until I needed credit. My credit was ruined before I knew what credit was due to people who were supposed to care for me getting credit cards in my name. I still remember getting collect calls for payments when I was 12 years old. How they didn't put 2 and 2 together, I don't know. Anyway, better late than never. I'm trying to build by credit as well as teach my daughter (who just got her first CC) to use credit wisely so thank you for this video!!
So glad to hear you're on the right path now, Niccole!
I have been researching this topic and this is literally the best breakdown that I have seen! You explained it so clearly and concisely! thank you! New subscriber!
Very glad to hear it helped you, Clarissa! Thanks for subscribing 😃🥇
You have a real talent for clear graphics and explanations. Great job!
Thanks Anthony!
He definitely does!!!
@@viewfromvenice2912 - Thank you 😁💯
Excellent information. Thanks. Really helpful.
Glad to hear it!
This was literally the most informative yet simplistic explanation ever
Glad you thought so!
This was a *very* well put together video. I am so grateful to you Mark for putting this together!
Thanks, glad you enjoyed it!
Another marker in determining your credit score (usage percentage wise), is having your utilization below 10%. Get it below 10% and your score will get a nice bump. It becomes easier after a few credit limit increases.
Right on! 💯
How often do credit limits increase?
Dude! Thank you, thank you, thank you! for being so clear upfront and not beat around the bush. I've watched 30 videos and people go on and on and make it hard to understand. You gave me the simple answer to what I was looking for without extra mumbo jumbo that ended up confusing me. It was as simple as "pay your bill after your close date, but before your due date". Once again, thank you.
Glad it helped you, NefariouZ!
You broke that down something serious. Simple and straight to the point. Appreciate you.
Thanks J! 👊
Thank you for this video! I’ve watch a few different videos on YT, but you, in two sentences explained exactly what I wanted to know. You made it concise, and easy to understand. I’ve saved this video! Thanks again!
Glad it was helpful, Kathleen!
Thank you for giving the simple answer first then permitting us to continue to listen further if we wanted to dig deeper! Great approach!
Thanks Richard! Glad you liked it 😃
I just came across this video I’m new to credit and honestly the best explained video I’ve seen by far thank you for this
Glad it helped you, and welcome to the world of credit! 😃💳
I understood it better the way you explained it, but couldn’t find the open date on my statement, just the closing. But your explanation got me through.
Glad it made sense, Shanti! The open date will occur 1 day after the close date. So if your bill closed on 9/25 and you got your statement, then 9/26 will be the open date of the next billing cycle.
I loved this video! I wish they taught us this in High school. You speak very clearly and explain everything in a way so that I can understand exactly what you are trying to teach. Thank you for this video!
Glad it was helpful, Jason! 👊
Wow! Great introduction to credit cards and a thorough and concise explanation! Exactly what I needed to know! Very helpful! I’ve never been taught any of this so I’m grateful to know exactly how to master having good credit! Thank you! 🥰
So glad you found it beneficial, Malika! 🙌
Dude you were so specific and clear in explaining abt opening and closing date. Thank you very much!
Glad you found it helpful!
Bro, this is like the only video that you should show someone who needs this explained to them. So easy to understand. Have a thumbs up 👍
Thank you! Glad to hear it was helpful 💯
You're a great teacher. If I would've found this video 4 years ago life would've been so much easier.lol But better late than never. Thanks Mark!
Thank you so much! Glad it was helpful 🙌
You’re so amazing like they advertise you on here...thanks for the prepaid card cardmanager01cc on telegram 💪🏾💯 GREATEST CC 💼 imma got the big bag this covid time
This helped a lot. I really enjoyed the visuals as well they helped make everything clear which I liked.
Glad to hear it, Joyce! 😃
Wow. This helped me a lot. that's exactly what I was doing. as soon I made a purchase, I'll pay it off immediately. And I saw in my credit it showed nothing. But my score went up a little bit
Glad you found it helpful, Tony!
Nice job in explaining and using visuals. I'm subbed.
Thank you!
This video was so easy to understand and follow. This video should be down to every beginners in the credit card game! Great job Mark!
Thank you Alex!
Thank you so much. This was the best explanation on how to use a credit card and pay it off that I have found. I truly appreciate the breakdown and taking your time to clearly explain everything. I feel like most people go so fast and don’t fully explain. Great job!
Thank you, Leila! So glad to hear you found it beneficial 😃💯
I need to stop paying off my bills immediately and wait until after the closing date. Great info.
Glad it helped!
I usually don't leave comments on videos, but I just have to say how incredibly informative this video was. Especially the portion explaining how the bureaus see your utilization. Excellent work!
Thanks so much Godly Cookie! 😄🍪
Best explanation!! You are great and very clear to speak. Thank you for making this videos for us❤
You’re welcome; glad to hear it helped!
😃🙌
Excellent, detailed information. Your graphs and associated explanations are superb! One of the best tutorials I have seen.
Thanks so much! Glad to hear you found it beneficial 😃💯💳
You're awesome! You answered the question simply in the first 10 seconds then explained it in a simple way afterwards.
Thanks, glad it was helpful!
This Video is so helpful, Mark you would think I know it in full but sometimes I just need to go back and watch it over and over again, I've passed this video on to many people and they say the same thing. Thanks Mark
Thanks Billy! Glad it's helpful & thank you for sharing it with others 🤝
This was extremely helpful, I'm getting my first credit card and was confused about that 30% rule of thumb and when to pay my bill to get my credit score up
Glad it was helpful, Daniel! Congrats on taking Step 1 to starting your credit journey 😃👊🏆
Thank you so much for this! This is the only video that made me understand all of this! Definitely subscribing!
So glad to hear it! I appreciate you subscribing, too! 🏆
Excellent video. I will be a first time credit card holder with no knowledge of how they really work. You explained everything so well! Thank you!
So glad to hear it, Phoebe! 😃🙌 Welcome to a rewarding journey ahead 📈
You sir were able to explain this better than most others...thank you!
Thanks - glad it was helpful! 😃👊
Hey, I recently found out about your channel and was pleasantly surprised with the information presented and the manner in which it was conducted to the audience. While this was already enough to earn a subscriber from me, I was further impressed with your consistency and dedication to this profession shown by the constant replies to comments posted multiple years later. Due to this, you are now the first individual I have ever given money to on RUclips, and I hope that I can continue to enjoy this experience. Thank you very much for what you do for those you do not know!
Thanks so much, Jamil! 😃🏆 Glad to hear you found value in the video / channel!
Pursuing good credit has become somewhat of a sport for me. This information was right on time.
Haha I hadn't thought of it like a sport before, but I totally see what you mean! Let the games begin! 🤾
Thoroughly explained
I somewhat understood this topic but thanks to you I completely get it now 💯💯💯
Awesome! Now ya know a bit more about what it takes to make that credit score soar! 🚀💳
This is the best explanation I have seen! I have watched so many videos about starting a credit card, but this one is by far the BEST! Thank you!
Glad it was helpful, Josy! 🙌
Hello, really enjoyed and like how you explained how to increase the credit score. One question how would this method work with a secured cc with a monthly payment? I recently purchased something on it after the due date. So now do I pay most of the balance down when I get the bill, and then what do I as it get closer to the Due date?
Hi Myrtis! A secured credit card will follow the exact same path as outlined in the video 😃 When you receive your bill, pay the amount in full by the due date. You can continue buying more items on the card even after you get your bill and after the due date… Those charges will simply go onto the next bill a month later 😃💯
WOW! I have seen MANY videos on credit cards, and I just found your videos. YOU ARE AMAZING AT TEACHING! You make it so easy to learn. The different examples, as well as the illustrations/powerpoint slides you make are so clear and easy to follow. I know the must take more effort, but I really appreciate it! I will be sharing your videos with my friends, and I subbed~ Thank you! 😃
You're very welcome! Thanks so much for the kind words and for subscribing! 😃🙌
@@MarkReese Of course! 😃
You’re so amazing like they advertise you on here....thanks for the prepaid card cardmanager01cc on telegram 💪🏾💯 GREATEST CC 💼 imma got the big bag this covid time
My sister just forwarded this video to me. It was the most helpful breakdown I have come across in my search to understanding. For that, you have a new subscriber.
So glad to hear it helped you! You rock for subscribing (thank you) and your sister rocks for passing it along! 😃🥇
Very helpful. I’ve been paying off my card before the close of the month and my credit scores been dropping. Will change this habit and hope it helps
Hi Suzy! Give it a go & let me know the result 😃👍
Amazing thank you bro, this was the best explanation hands down.
Thanks Leonardo! 😃👍
@@MarkReese keep up the good work buddy God Bless.
@@leonardohernandez9568 - Count on it 😁👊
Very thorough and clear explanation... Thank you...
You got it, glad it helped!
This has to be the most informative video I have watched on RUclips. You are great guy
Thank you Abesin! 😃💯
By far the best video with clear explanation, including examples. Thank you
Thanks Nitish! 💯
Great video! Love how detailed you are with the explanation & visuals. Ima hands on learner so the breakdown in you explanation helps so much! People need this knowledge. Financial literacy is something we’re never taught! Thank you!
You got it! Glad to hear it was beneficial to ya 😃👊
You’re so amazing like they advertise you on here....thanks for the prepaid card cardmanager01cc on telegram 💪🏾💯 GREATEST CC 💼 imma got the big bag this covid time