The END of Money problems is at your fingertips with VELOCITY BANKING!
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Just got my $10,000 personal line of credit! Im 4 years into my loan. Have 26 years left on 30 year mortgage. Gonna do the PLOC every 7 months. Ill have my house paid off in 6 years! Savings of $167,000 in interest. I am so thankful I found your channel Chrissy! Literally 7 days ago and im already on my way! Thank you so much!
Quick question… is it PLOC or HELOC ? are you able to do cash advance with 0%interest? I have a mortgage and I’m only able to make my mortgage payments using either a checking or savings account. So I was wondering how I would make payments using HELOC?
I closed on my HELOC yesterday. If I can use the HELOC account info for automatic payments for my mortgage, I will update payment info, otherwise I will just transfer the funds from the HELOC into my checking account.
Is it a PLOC? Who did you get it through?
PLOC. Got it through my credit union.
Mine as well. I got it through my credit union. I live in upstate NY
Just wanted to say that I’ve been working our finances this way for not quite a year…we are not debt free but we are getting so much closer, our scores are rising, and today, when our fridge died, we had the means available to go replace it! No fuss, no muss, no panic!! Thank you Kristy!!
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Angela 😊🎉
Thanks for the recommendation 🙏 how can I get to her ?
She's always active on Whats~App... 🎉
Her number down below ✨
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I went to talk about a heloc at the bank and it turned to a quick loan!! I just applied but I’m not doing it! Thanks to this!
Thank you, I appreciate the very helpful advice! ❤
Best content on Velocity Banking!
Bing watching your videos. Thank you for educating us.
LOVE your content, very helpful 👍🏻
I use my credit card and pay monthly bills then pay it off end of month
Same here
How do you pay it off? Isn’t it more than the monthly due payment? Like my bills are 800 dollars every month but my credit card monthly payment is 130 help me
Need to learn this asap
it shouldn't take you too long it's just math. took me only a few weeks to learn, practice and start it.
Love your videos! I have tried to find ways to pay down my debts and your channel has been a Godsend. Thank you for sharing such a lifesaving financial tool.
I don’t have the credit for a Ploc but do have a credit card. Is it possible for you to show on your wonderful white board how to make small payments on a credit card for expenses so we don’t get our limit reduced. I am a visual learner and it would be beneficial for me to see how it’s done. Thanks and God bless.
Hi Christy. Thank you for everything. Could you please elaborate on how to factor in expenses that are quarterly or yearly, such as utilities, insurance, and maybe holiday spending? How do you factor that into your monthly "living expenses". Sometimes these things sneak up - do you have a good way to track them?
Yes i like velocity banking since it essentially get you not to park your money in a savings acct and yet paying higher rates on other loans. 1) It forces you to take that extra cash and pay off higher rates loans 2) you still have access to cash via revolving credit card or Home equity line of credit in case of emergency 3) BUT you don’t save that much interest on your HELOC by parking your salary in there. 4) you could achieve same result by making extra payments to your loans but it is more cumbersome plus everyone (including the banks tell that you must have savings). No you need access to cash like the large multinational
corporation with their revolving credits (which are paid down by year end).
My fear is I have a large balance and have had cards cut my limit after I pay a large amount and then I won’t be able to cover my bills if they cut my limit
that's what happens when you max them out and give late payments as they are trying to cover themselves from taking a big loss.
Will the bank give a HELOC on an investment property?
I have about $22,650 of consumer debt that I have been moving this debt from credit card to credit card by leveraging 0% Apr balance transfers for 12-18 month to buy time. How do I leverage velocity banking here? Working on getting a PLOC at the moment.
where can i get velocity rizz and velocity gyatt at
How do you use velocity banking if your debt is huge and youre poor, with bad credit?
From what I am seeing, you can't?
When I attempted to apply for the Personal line of credit, the bank asked what it was for. What should I say ? Unexpected medical bills, or to pay off credit card debt? I said student loans but they mentioned that they had another program for that.
You could say to consolidate my high interest credit card debt (if you have it). The other could be to have access to funds for unexpected expenses (unexpected expenses can be anything health, vehicle, home repair). If they push a loan again you say a loan decreases the amount of funds I can access as I pay it back, that's why a LOC would be the appropriate financial product for my situation. Have a great day.
I got a tax refund (I know - I shouldn't be getting a big refund). Should I use that to pay down my 0% credit card?
*Fantastic video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??*
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong. .
Well...l will advise you should stop
trading on your own if you keep losing
and start trading with an expert
because trading with an expert is the
best strategy for newbie..
I think l'm blessed if not I wouldn't have met someone who is as spectacular as expert mrs Janet..
High recommended
Wow, I'm surprised to see Janet mentioned here as well. I didn't know she had been kind to so many people
Mrs Janet successful stories are everywhere, all over the place.
Hey Vann, I have no debt and my wife and I are living at my in-laws to save up for a house. We have about $40k, half in emergency savings and half we plan to put into CD’s.. should I go out searching for a house now that I’ve found out about velocity banking? Instead of saving up for 3 more years and then looking. I’m just afraid these housing costs are still out of my price range
Take this with a grain of salt. In your shoes infinite banking might be a better strategy. That way you'll have your policy to borrow against to buy a home. Have a great day.
I have a LOC that’d I’d like to try incorporating velocity banking to. If I am using my income to go directly to the HELOC and my Credit Union doesn’t have the option of having a debit card tied to the line what do I use to pay my bills / expenses. That’s what I can’t comprehend. I’d have to write a check and deposit it to my bank account when I need to pay for items.
We closed yesterday on our HELOC. What I plan on doing is charging all my expenses on my AmexDelta card, which we were doing anyway. Our income will be transferred into the HELOC and I will make bi-monthly payments to my card, especially before the reporting date so it could report at $0.
We closed yesterday on our HELOC. What I plan on doing is charging all my expenses on my AmexDelta card, which we were doing anyway. Our income will be transferred into the HELOC and I will make bi-monthly payments to my card, especially before the reporting date so it could report at $0.
Do you have a credit card you can use for majority of your monthly expenses?
@@JDPopowhat was your rate and was it fixed or variable ? Big bank or credit union ?
@@WassimChao Our rate is fixed @ 8.5% and we bank with a credit union, so we went with them for our HELOC. 5 year draw, 10 year repayment. Didn't want to take a chance on the variable which was a 10 year draw.
Where is the best place to get an HELOC?
banks or credit unions, shop around.
@@deval3596 need better information than that where has this worked for you?
Hi,
Macy’s Amex we’re only allow five payments a month
Amex payments are unlimited. I make several payments per week on my Amex card.
doubt it that any credit card company would not want your money.
❤
Wouldnt a credit card be considered the same as a peloc?
credit cards, ploc and helocs are all considered lines of credits and categorized as that on your credit report.
What places offer a personal line of credit? I've called all sorts of credit unions and banks but none of them do this. Please help.
Google: Credit Unions near me. Write down the names and Google [credit union name] line of credit. Have a great day.
that's a lie or they told you lies. the majority of the banks have lines of credits, 1) the employees aren't aware that they have the product or 2) the employees get paid incentives every loan or line that they process. they will get paid more from a customer taking a loan than a line of credit so they will push the loans more. what bank do you bank with?
Kinecta
Hi Christy. I'm reading about Fractional Reserve Banking. It appears to me banks are loaning out money they actually don't have? I tryed to find any laws that support this practice but I haven't found any! Wouldn't this be counterfeiting or fraud?
@@Jesus-kt5dc Fractional reserve banking is still a thing. What happened in 1933 is they canceled the option for people to exchange money for gold. It was President Nixon in 1971 that took us off the gold standard. At that point our money turned into fiat-currency.
@@Jesus-kt5dc Fractional reserve banking is still a thing. What happened in 1933 is they canceled the option for people to exchange money for gold. It was President Nixon in 1971 that took us off the gold standard. At that point our money turned into fiat-currency.
@@Jesus-kt5dc Fractional reserve banking is still a thing. What happened in 1933 is they canceled the option for people to exchange money for gold. It was President Nixon in 1971 that took us off the gold standard. At that point our money turned into fiat-currency.
@@Jesus-kt5dc Hhmm.. Looks like Google will not let me send the reply I would like to. I wonder why?
@@Jesus-kt5dc This: Fractional reserve banking is still a thing. What happened in 1933 is they canceled the option for people to exchange money for gold. It was President Nixon in 1971 that took us off the gold standard. At that point our money turned into fiat-currency. (Was getting a 404 error message, weird trying to send this)
When scary close to the limit, should I be paying the interest charge on top of the bill I matched it up with?
Yes, when you start going over 90% credit utilization and your bill matching you start adding the interest. This is only for bill matching cards. Are you doing Molly's sleeper method? Have a great day.
@@Jesus-kt5dc yes, I have a few sleeping cards. Thank you Jesus! 🙏
@sheila_rabant Let me clarify one thing, this is in my opinion. You shouldn't worry about interest on sleeper cards until you get to 80% (this is what I consider max because it's my comfort) of the credit limit. If you can sleep at night at 90% then go ahead and go up to 90% (Myself I couldn't sleep). I feel comfortable at 80% because I don't want to make a mistake and then I'm over the limit. Make a late payment and they close my account. Have a great day.
@@Jesus-kt5dc the minimum payment covers the interest charge on my sleeper cards. Not adding more on them. Using all others matched with monthly bills plus interest since are close to max. I love Vann and Velocity. Thanks for the details Amen, bless your day!
Another strategy you can do is switch your main credit card and sleeper card. If your main CC that you been paying down is at 50% (just an example) utilization and one of your sleeper cards got up to 90% utilization then switch them around. Turn your main CC (50% utilization) into a sleeper card (you can observe the interest on this card). Use the sleeper card (at 90% utilization) as your new main CC, where you park your miscellaneous expenses and cash flow. Hopefully this makes sense and helps, have a great day.
Bank of America told me that they can only give me a HELOC or a 15 month or 18 month credit card.
that doesn't make sense. how would they give you a credit card for only 15 or 18 months? what happens when your time is up and you still owe the money?
@@deval3596 I think they must have meant 0% interest for 15-18 months.
Maybe is a loan for either 15 or 18 months with 0% interest. After that time is up you will be charged interest.
Thank you for your information and how clearly explain it. Can you cover PLOC and BLOC and where to get them? Also how to successfully apply. （＾∀＾●）ﾉｼ
check with your bank or other banks and credit unions. there is no way to successfully apply for these as your qualification will be based on your personal credit history. as for the business line it will be based on your business information, credit and possibly your personal credit as well.
That’s called paying Peter to save Paul. Dumb