She is so right when she said credit cards have like the fastest affect on your credit. My credit is horrible. I never focused on my credit because I was in survival mode for years. But anyways. I got approved for $200 on a credit card. I started with 493 credit score. 3 months in a row my score dropped 4 points each month. I didn’t know what I was doing wrong because I was making payments every month. Well I learned about the statement date. The last month I made my payment before the statement date and paid a little more than minimum payment. My credit school jumped up 93 points. So everything she’s saying is so important and so true. I was shocked to see my credit score jump that much! After that I got approved for my 2nd credit card and now my credit jumped up a few more points. Now I know I’m on the right track. I just need to add reoccurring payments to the cards ❤️
I’m so glad that there are people out there like this. There have been way too many people online trying to teach people tricks to raise the credit score and not how to build a strong credit report. I’m not saying that having a good credit score isn’t important… It’s just not as important as a strong credit report. You can’t use cheap tricks to get that. This is what I try to teach a lot of young people
Thank you for the wisdom. I’ve been doing it all wrong! I won’t be getting any more affirm accounts 🧐And I’m going to be staying put on applying for anything for 6 months
If you can use a card 6 to 15 times, if not a burden for you, and not on wasteful purchases, while keeping to about 5% utilization, that should hit more favorable factors. Remember, a card issuer makes money from the vendor when you use the card as well.
The card companies actually offeres me more money the more I spend. So when i get a new card i switch my bills to there. Or who giving the most cashback
@@johnsamsjr8670 because people without the requisite knowledge shouldn't be giving out information cuz most of the time it's inaccurate. I'm an accountant and I can't count how many times YTers have given out inaccurate, misleading, or illegal information.
If you pay your card by the due date you will be charged interest. Interest is realized on the statement date, that is how the bank ensures they get interest.
Because you want it to report to the credit bureaus showing low usage… after your statement date, you pay the balance in full so you don’t get charged the interest
They charged you because the prior month you had already rolled over a balance that was subject to interest. New charges are subject to 23-25 day grace periods but if you miss the statement date and don’t pay off your entire older balance they have you trapped and you’ll be clawing out from them high interest charges. Get the balance at zero and don’t use the card for a cycle to get it reset. 🙌🏾
Most bank do report utilization under 10% I have the credit reports to prove it. iBank and Bureau's wil report 1% even . So the Sista saying they don't report under 10% utilization is CAPP. THE Bureau will report individual card utilization as well as total card utilization. So utilization has alway been reported as the balance carried over on a statement date.
Please Note!!! Self credit card reports the end of month balance, NOT the statement date (for me on the 8th!) I was surprised the first time it reported.
I use credit cards to pay for most things. Because I have large credit lines, I use well under 3-5% and I pay my bill in full before the due date. My credit score is 800. She suggested to carry over at least 1-3% of your balance. I don’t understand this concept.
I think that’s what she said though… carry over the balance or purchases made for the statement date 1-3%… and pay the remaining balance in full before the due date…
All You Need To Know About Credit. Unbreakable Laws Of Credit By Corey P. Smith. Get this Book. An All His Books. I Wonder Why This Show Hasn’t Had Corey P. Smith On It?
Unless you are making a major purchase such as a house or a car, you don't need to track any of these dates. Pay your bills on time and keep it pushing.
I always say do both if you can. I’ve done both with great success in helping me surpass an 800 score. Increasing your limit gives you more cushion that helps your utilization look better (as long as your spending habits remain relatively the same). Most credit card companies don’t pull your credit for an increase request because they use your payment history with them.
A zero balance doesn’t hurt your credit profile but it doesn’t help it either. If your credit card company reports a zero balance each month, it doesn’t show that you’ve used it. If you are trying to build credit, the key is to find out when your statement date is. That balance is what is reported to the credit bureaus. If you want to pay it in full after that, you can do it then. That way it shows the credit bureaus that you use your card and when it is at zero the next month, it shows that you are responsible in paying it back.
This beautiful, black sister offers an abundance of financial literacy to her audience. For me, the thumbnail is unnecessary… Your mind is enough Sweetheart! #blessings
Financial atmosphere is constantly evolving. The average person working 40hrs a week. Their credit score is not that important anymore. HYPER Inflation plus high interest rates along with most Americans having a high debt to income ratio will equate to people barely surviving and living pay check to paycheck with ridiculous debt. People must learn to earn multiple income streams or a professional skill or they don't have a chance at real Financial freedom. Now add all the vices most people have it gets worse. With no significant liquid capital buying appreciating assets debt free is impossible. Living week to week off of credit cards and paying ridiculous interest is a ticking time bomb for disaster. Problems will arise its life.
She is so right when she said credit cards have like the fastest affect on your credit.
My credit is horrible. I never focused on my credit because I was in survival mode for years. But anyways. I got approved for $200 on a credit card. I started with 493 credit score. 3 months in a row my score dropped 4 points each month. I didn’t know what I was doing wrong because I was making payments every month.
Well I learned about the statement date. The last month I made my payment before the statement date and paid a little more than minimum payment. My credit school jumped up 93 points. So everything she’s saying is so important and so true.
I was shocked to see my credit score jump that much! After that I got approved for my 2nd credit card and now my credit jumped up a few more points.
Now I know I’m on the right track. I just need to add reoccurring payments to the cards ❤️
I’m so glad that there are people out there like this. There have been way too many people online trying to teach people tricks to raise the credit score and not how to build a strong credit report. I’m not saying that having a good credit score isn’t important… It’s just not as important as a strong credit report. You can’t use cheap tricks to get that. This is what I try to teach a lot of young people
My favorite Finance channels: Earn Your Leisure, Stock Brotha, & Wallstreet Trapper. Make my week complete! 🔥 🔥 🔥
Great info. The full video is shock full of good tips.
Shonda is one of the original and one of the best in the credit game
Thank you for the wisdom. I’ve been doing it all wrong! I won’t be getting any more affirm accounts 🧐And I’m going to be staying put on applying for anything for 6 months
If you can use a card 6 to 15 times, if not a burden for you, and not on wasteful purchases, while keeping to about 5% utilization, that should hit more favorable factors. Remember, a card issuer makes money from the vendor when you use the card as well.
Beware of those credit cards that does a hard pull for a increase
Who
Awesome video full of practical advice! Thanks for sharing! See y'all next video! Toodles!
Thank you EYL always dropping gems 😎
Most definitely learned alot from your videos 💯✅
Thank you so so much black king and black queen for sharing this vital knowledge. Much appreciated!
due to privacy reasons and basically because of RUclips’s new policy, fwd “credit repair” to my, e - mail right away.
On my credit report it gave me a medium risk for not having a card limit of over 1000 are you aware of this?
Stay blessed! due to privacy reasons and basically because of RUclips’s new policy, fwd this comment to my, e - mail right away.
There↑.
Great content.Echo is crazy.
5:28 is what I’ve been doing since I started building credit 💯✅
I remember a Major in the Army teaching me this in 2001, while we were stationed in Germany. We're still good friends and now business partners.
You brothers wisdom is great, speak into the mic so we can hear ya
on the statement, is the statement date titled "statement closing date?"
Yes!
@@Roadto750 Thank you 🙏🏿
Great information! So if I have a 300 CC how much so I’ve using a month ‘ how much should pay back in order to increase my credit score
Did you watch the video
This was very informative.
Them hard gems she dropped 💎💎💎
I love her, she is so intelligent and beautiful, might I add. 💙
The card companies actually offeres me more money the more I spend. So when i get a new card i switch my bills to there. Or who giving the most cashback
exceptional advice
Fire content!!!!
Do any of these people degrees in accounting or Finance or financial planning?
Why does that matter
@@johnsamsjr8670 because people without the requisite knowledge shouldn't be giving out information cuz most of the time it's inaccurate. I'm an accountant and I can't count how many times YTers have given out inaccurate, misleading, or illegal information.
Pay off 100% ahead of the date three cards max the best ones
But how do you turn the credit to cash? So for example if I got a 785 score is there a way to leverage that credit to make me money back??
1. get a LLC.
2. Get a Loan
3. Buy or start a business
Thank you for the information
If you pay your card by the due date you will be charged interest. Interest is realized on the statement date, that is how the bank ensures they get interest.
If you are paying off 90% of your credit card by the statement date and 100% by the due date every month, then what's the point of even having one?
rewards and points. A lot of CCs have tons of benefits
@@joshuawilliams6153 Like flight miles and grocery discounts?
Because you want it to report to the credit bureaus showing low usage… after your statement date, you pay the balance in full so you don’t get charged the interest
You sound like you don’t belong in this game
I pay my Capitol One by my due date with a zero balance and they still charged me interest after my statement. Why?😢
They charged you because the prior month you had already rolled over a balance that was subject to interest. New charges are subject to 23-25 day grace periods but if you miss the statement date and don’t pay off your entire older balance they have you trapped and you’ll be clawing out from them high interest charges. Get the balance at zero and don’t use the card for a cycle to get it reset. 🙌🏾
@johnwilson6211. How much did they charge you?
Great information! Thanks! =)
Man how do we get some money right now!!
Most bank do report utilization under 10% I have the credit reports to prove it. iBank and Bureau's wil report 1% even . So the Sista saying they don't report under 10% utilization is CAPP. THE Bureau will report individual card utilization as well as total card utilization. So utilization has alway been reported as the balance carried over on a statement date.
She said as long as it’s not Zero dawg
@@Mboacehe is a damn idiot
Please Note!!! Self credit card reports the end of month balance, NOT the statement date (for me on the 8th!) I was surprised the first time it reported.
I came to the comments to see bros talking about the thumbnail 😂
Like why put that picture of her there if she wasn’t even wearing that , I guess sex sales lol🤦🏾♂️😂
I use credit cards to pay for most things. Because I have large credit lines, I use well under 3-5% and I pay my bill in full before the due date. My credit score is 800. She suggested to carry over at least 1-3% of your balance. I don’t understand this concept.
I think that’s what she said though… carry over the balance or purchases made for the statement date 1-3%… and pay the remaining balance in full before the due date…
Fantastic!
Here because of a thumbnail!
Same
Guilty
4
😂me 2
I tried resisting but she got me too
I once paid my Fidelity credit card balance in full and my credit score dropped by 20 points 😡 I was so confused….
The cc companies like to see that you use the card…so carry a balance 10% or less and you should see your score improve.
I had the same issue lol.
Where did you get saying 10 transaction in the month? Why not 7 or 12?
Because that is what she has researched
❤❤❤❤OUTSTANDING THANK
Just watching this video my credit score went up 25 pts
I'm the thinker, planner, budgeter, organized one in my relationship. I really wished my girlfriend was remotely this sharp. Still love her though.
Thumbnail is t die for
Yeah that thumbnail
All You Need To Know About Credit. Unbreakable Laws Of Credit By Corey P. Smith. Get this Book. An All His Books. I Wonder Why This Show Hasn’t Had Corey P. Smith On It?
First Thank You and Your guest.Second Masterpiece Master class down loaded watch repeat until you understand what she is talking about 🎉😂❤😢
Unless you are making a major purchase such as a house or a car, you don't need to track any of these dates. Pay your bills on time and keep it pushing.
She says she pays it all the way off and then she says she carries over 1 to 3 percent to her next billing cycle…. I don’t understand that….
Thank you for commenting! due to privacy reasons and basically because of RUclips’s new policy, fwd your concerns to my, e - mail right away.
There↑.
I believe she meant the statement date is before the due date. The due date comes after statement date & not before.
Don’t get credit limit increases just get another credit card get those sign up bonuses guys!
I always say do both if you can. I’ve done both with great success in helping me surpass an 800 score. Increasing your limit gives you more cushion that helps your utilization look better (as long as your spending habits remain relatively the same). Most credit card companies don’t pull your credit for an increase request because they use your payment history with them.
- there are advantages to doing both
First step: Have money, Second Step: Have familial Wealth, Third Step: Don’t suffer from the Black Tax.
A zero balance can hurt your score as well you have to carry over something
That is not true
Absolutely wrong. This is easily googleable
No it doesn’t because you paid off your balance before the statement date but carrying a balance over causes you to pay interest.
A zero balance doesn’t hurt your credit profile but it doesn’t help it either. If your credit card company reports a zero balance each month, it doesn’t show that you’ve used it. If you are trying to build credit, the key is to find out when your statement date is. That balance is what is reported to the credit bureaus. If you want to pay it in full after that, you can do it then. That way it shows the credit bureaus that you use your card and when it is at zero the next month, it shows that you are responsible in paying it back.
@@Sandiego2019thank you so correct.
This beautiful, black sister offers an abundance of financial literacy to her audience. For me, the thumbnail is unnecessary… Your mind is enough Sweetheart!
#blessings
Financial atmosphere is constantly evolving. The average person working 40hrs a week. Their credit score is not that important anymore. HYPER Inflation plus high interest rates along with most Americans having a high debt to income ratio will equate to people barely surviving and living pay check to paycheck with ridiculous debt. People must learn to earn multiple income streams or a professional skill or they don't have a chance at real Financial freedom. Now add all the vices most people have it gets worse. With no significant liquid capital buying appreciating assets debt free is impossible. Living week to week off of credit cards and paying ridiculous interest is a ticking time bomb for disaster. Problems will arise its life.
Looking at this thumbnail it should be called bra utilization 😂
Having a zero utilization rate does not hurt your score. That is a myth, y’all need to stop listening to these fools.
Thanks for keeping us financially Educated! Regardless of how bad it gets on the economy, I still made over $35k this month
how?? please tell me what you did! i'm a single mother.. really struggling!
Investment is far better than money saved when you invest your money it works for you and I'll help you earn more money honestly
I believe the benefits of a successful trade comes from a good Mentor and guidance
your credit score is a reflection of the type of Character you are as a person; financially wise
Most people use the credit cards because they can’t afford to pay it off like that
Cleavage thumbnail…good trick. Click bait
U wrong for having those fun bags for the thumbnail lawda mercy
What the F is she talking about? Please stop how can she make good decisions with money when she probably spends more than than anything
I’m
Just here so I won’t get fined 😮💨😊
she is beautiful
😋
Whodis?
One thing ive learn is dont do business with low budget credit lenders period
Such basic information that anyone can easily google
Is she single ?
Chill homie those belong to me
Capitol ONE
I zero out my cards and have multiple 3k limits. And I can’t get approved for 5k or more
Got milk? 😋🥴🥴 The click Bait! Where is the blazer she was wearing in the thumbnail!? 🤬👺
She use to date me in the 5th grade. notice I said date me, not me date her 😎