I don't know if I missed it, but I think it's worth mentioning that if you rack up a balance and your utilization is high, your credit will go back to what it was before once you pay off the balance.
Great video John. There are so many myths surrounding credit cards and so many people just in the dark, it's refreshing to see another video reaching out to those individuals!
I soooo wish these things were taught in school…I’m learning about credit the hard way 😮💨 but at least I can teach my kiddos better and learn from my mistakes 🙌🏽
Amazing content, You remain the best!! It's been a year since I found ways to improve my finances and by working with a renowned professional, I was able to attain financial freedom. I have to say; "As long as you are determined and work hard, you can achieve whatever you place your mind on."
In my financial journey, MARC DARIUS MESSER has played a crucial role, offering invaluable knowledge, practical advice, and motivational content. The empowers community he fosters has not only boosted my confidence and work engagement but also inspired me to pursue excellence. Considered a secret weapon for significant financial growth, his online presence is essential for anyone seeking to enhance their financial situation
Great information!! It's truly great to see the name Marc Darius Messer mentioned here. I have immensely earned working with him and I'm truly happy with my decision to work with him because he has proven to be the most reliable Financial consultant to work with
Having worked with Marc Darius Messer for 3 years, I have come to realize that a dream doesn't become reality through magic; it takes sweat, determination, hard work and that all our dreams can come true if we have the courage to pursue them.
I have been told many times that you should let it go a month month and a half before you make a payment and it would be better for your credit?. Even knowing how is explained in the video that's exactly how I viewed it I'm pretty sure even a bank told me the opposite.
you should try to have some utilization at least in the single digits percentage wise so that the card has something to report to the credit bureaus. Even if it’s just like $10.
I don’t agree about closing accounts. If you are the type of person who misses card payments and carries balances and pays interest , feel free to close accounts because you aren’t a credit card person and the downside of keeping the accounts open will burn you
This has me confused? How can you make a payment on the statement closing date when you have an earlier payment due date? For example, say my closing date is Dec 29 but my payment due date is Dec 15. It’s a late charge to go past the payment due date so why would I do this? Please explain or is this just a 2nd payment?
Your payment due date is for the statement cycle of the PREVIOUS statement cycle. For example my latest credit card statement from one of my credit card shows that my cycle is from October 26, 2023 - November 24, 2023. My DUE date for the charges on that statement are due on December 19, 2023. I am currently on Decembers statement cycle which has not ended yet. That is from November 25, 2023 - December 25, 2023 and that payment will be due on January 19, 2024. If you do not pay your credit cards in full by the due date, then you will carryover a balance and be charged interest starting on the due date. I hope this helps you understand. It took me a loong time for me to understand this concept but once you do its fairly intuitive.
Could someone provide an answer for my questions. I just ordered an Amazon credit card back in December 1. I want to open maybe one or two more cards right now. Is it okay to open it because I already have a hard inquiry on it? Planning on opening the Capitol one venture X and Amex gold. I'm not sure if the credit card inquiry lasts 14. I want to apply for all of them before I get hit with another hard check. Any advice or link to previous video is appreciated 👍
YOLO and get as many cards as you can now that don’t have yearly fees. That way your average age of cards is amazing over your lifetime. Put them in rotation so you don’t get them automatically closed. You will get balance increases over time as the banks see you paying them off. Be smart and don’t keep balances for more than a few months. All that available credit is a decent emergency backup. I wish I learned how to use credit correctly when I was in college. Life is tough without it.
I have an Extra™️Card that shows an extra (npi) $3000 in available credit bringing my available credit to $8000 on my bank’s website. Does this lower my utilization down? I was only going off my real CC the bank issued me, so I only spend about $1k at a time on a $5k limit. Is this a legit hack for Holliday spending? Please LMK😮
How is freezing your credit free? I must be missing something, because when I log into Experian it requires a paid monthly subscription plan to access freezing accounts. What am I missing?
You can access all three bureaus for free to do limited things like check your reports or freeze and thaw your credit. All three also have paid tiers that allow you to do more
@@rmknicks inaccurate, as I explained before, I have an Experian free account. Searching through every page of the account, there is no free option to freeze your credit. You must pay a monthly subscription to access that feature. No one has been able to show me where freezing your credit is free on any of the three bureaus.
@@rmknicks when I sign into the Experian app and click on my score there is no such freeze/thaw icon on any details page. If I click on the "Credit" tab I see a "manage" button for Experian Credit lock. When I click manage there is an upgrade button for $24.99 a month. I called Experian last month, and the agent told me that I would have to pay the monthly subscription to freeze my credit with Experian. I don't know where you're finding this free freeze/thaw option.
@@rmknicks also at the bottom of the dashboard page there is an option to "lock your credit". When I click on that button I am taken to a page to pay $24.99 a month to access premium features. No free freeze option anywhere.
Not really related but. I'm looking to get a ranch. It will be a safe place for single parents in bad situations ( abuse and worse) as a therapy and sanctuary space. I have the busness plan, ways to make money but to do so I need the the ranch first. I am a first time buyer, I have good credit but I did lose my job do to some brain damage. Dealing with red tape now but I really feel like it's still my calling to start helping others. I would eventually like to open them all over the US and other contacts as well as some sober livings and others. Any advice?
actually, Rosa Parks was specifically picked by the NAACP to sit on the bus they actually picked a darker skinned younger woman but they found out she was pregnant and black folks black then did not fuck with pregnancy outta birth so they tossed her to the side and got rosa old lightskinned ass. true store My grandfather was born in alabama and rasa parks was his baby sitter i didn't believe his ass for the longest and after he died i talked to my grandma about it and she told me he wasn't lying and other family on his side told her the same
Love your credit videos. They're the only reason I'm able to properly build credit. But what do you recommend for getting an installment based credit account? I can't manage a mortgage currently, and it's not practical to get a car, and thus an auto loan, where I live. Is there something you recommend on a general level or alternatively, would it be fine to just get more credit cards as one is able?
I don't know if I missed it, but I think it's worth mentioning that if you rack up a balance and your utilization is high, your credit will go back to what it was before once you pay off the balance.
It will go back, but only on your statement day. I just had this happen to me
Just hit 800🎉. I wish I knew all of this years ago but I'm on the right track now.
Great video John. There are so many myths surrounding credit cards and so many people just in the dark, it's refreshing to see another video reaching out to those individuals!
I soooo wish these things were taught in school…I’m learning about credit the hard way 😮💨 but at least I can teach my kiddos better and learn from my mistakes 🙌🏽
Same, let’s set them up for success!
@@Betomustknow 👏🏽🥂
Put your kids as authorized users on one of your cards. It will build their credit so they can get cheap loans.
@@markm0000 super good idea!! I’ll have to look into that, thank you 🤗
By design. Americans are literally born to be in debt. No accident
Besides for obvious bait clicks what was the reason to put up the Amax gold/ platinum on the thumb nail picture??
I like this one, simple, but important
Amazing content, You remain the best!! It's been a year since I found ways to improve my finances and by working with a renowned professional, I was able to attain financial freedom. I have to say; "As long as you are determined and work hard, you can achieve whatever you place your mind on."
In my financial journey, MARC DARIUS MESSER has played a crucial role, offering invaluable knowledge, practical advice, and motivational content. The empowers community he fosters has not only boosted my confidence and work engagement but also inspired me to pursue excellence. Considered a secret weapon for significant financial growth, his online presence is essential for anyone seeking to enhance their financial situation
Great information!! It's truly great to see the name Marc Darius Messer mentioned here. I have immensely earned working with him and I'm truly happy with my decision to work with him because he has proven to be the most reliable Financial consultant to work with
Having worked with Marc Darius Messer for 3 years, I have come to realize that a dream doesn't become reality through magic; it takes sweat, determination, hard work and that all our dreams can come true if we have the courage to pursue them.
Why is life insurance a bad investment?
Thanks for making a great video on this topic!
Fantastic advise.
I have been told many times that you should let it go a month month and a half before you make a payment and it would be better for your credit?. Even knowing how is explained in the video that's exactly how I viewed it I'm pretty sure even a bank told me the opposite.
How do you set up auto payments for the statement closing date? Do some banks only allow auto payments on the due date?
hey ! love your channel...Can you do a review on cheapoair credit card ?
Thanks John! 💪😎👍
What if I pay in full before statement closing date?
Good for you kid
That’s fine too
you should try to have some utilization at least in the single digits percentage wise so that the card has something to report to the credit bureaus. Even if it’s just like $10.
i will apply for my fist credit card in January, what's the best credit card for beginners
Hey continental tire is offering a card that gives you a good rebate amount. Would that be an okay card to open?
Would love to hear your opinion on the Costco citi card, I don’t see much reviewers talking about it
I don’t agree about closing accounts. If you are the type of person who misses card payments and carries balances and pays interest , feel free to close accounts because you aren’t a credit card person and the downside of keeping the accounts open will burn you
This has me confused? How can you make a payment on the statement closing date when you have an earlier payment due date? For example, say my closing date is Dec 29 but my payment due date is Dec 15. It’s a late charge to go past the payment due date so why would I do this? Please explain or is this just a 2nd payment?
Your payment due date is for the statement cycle of the PREVIOUS statement cycle. For example my latest credit card statement from one of my credit card shows that my cycle is from October 26, 2023 - November 24, 2023. My DUE date for the charges on that statement are due on December 19, 2023. I am currently on Decembers statement cycle which has not ended yet. That is from November 25, 2023 - December 25, 2023 and that payment will be due on January 19, 2024. If you do not pay your credit cards in full by the due date, then you will carryover a balance and be charged interest starting on the due date.
I hope this helps you understand. It took me a loong time for me to understand this concept but once you do its fairly intuitive.
Could someone provide an answer for my questions. I just ordered an Amazon credit card back in December 1. I want to open maybe one or two more cards right now. Is it okay to open it because I already have a hard inquiry on it? Planning on opening the Capitol one venture X and Amex gold. I'm not sure if the credit card inquiry lasts 14. I want to apply for all of them before I get hit with another hard check. Any advice or link to previous video is appreciated 👍
YOLO and get as many cards as you can now that don’t have yearly fees. That way your average age of cards is amazing over your lifetime. Put them in rotation so you don’t get them automatically closed. You will get balance increases over time as the banks see you paying them off. Be smart and don’t keep balances for more than a few months. All that available credit is a decent emergency backup. I wish I learned how to use credit correctly when I was in college. Life is tough without it.
Do one inquiry per 6 months and you will be generally fine. It helps out to space out the spend for intro offers anyway
I have an Extra™️Card that shows an extra (npi) $3000 in available credit bringing my available credit to $8000 on my bank’s website. Does this lower my utilization down? I was only going off my real CC the bank issued me, so I only spend about $1k at a time on a $5k limit. Is this a legit hack for Holliday spending? Please LMK😮
How is freezing your credit free? I must be missing something, because when I log into Experian it requires a paid monthly subscription plan to access freezing accounts. What am I missing?
You can access all three bureaus for free to do limited things like check your reports or freeze and thaw your credit. All three also have paid tiers that allow you to do more
@@rmknicks inaccurate, as I explained before, I have an Experian free account. Searching through every page of the account, there is no free option to freeze your credit. You must pay a monthly subscription to access that feature. No one has been able to show me where freezing your credit is free on any of the three bureaus.
@@kossaga I sign in, I click my credit score which takes me to the details page, and I click the freeze/thaw icon. All for free, so accurate.
@@rmknicks when I sign into the Experian app and click on my score there is no such freeze/thaw icon on any details page. If I click on the "Credit" tab I see a "manage" button for Experian Credit lock. When I click manage there is an upgrade button for $24.99 a month. I called Experian last month, and the agent told me that I would have to pay the monthly subscription to freeze my credit with Experian. I don't know where you're finding this free freeze/thaw option.
@@rmknicks also at the bottom of the dashboard page there is an option to "lock your credit". When I click on that button I am taken to a page to pay $24.99 a month to access premium features. No free freeze option anywhere.
I am a 18 year old high school student do I qualify for a student credit card? Thank you soo much ❤️
Not really related but.
I'm looking to get a ranch. It will be a safe place for single parents in bad situations ( abuse and worse) as a therapy and sanctuary space. I have the busness plan, ways to make money but to do so I need the the ranch first. I am a first time buyer, I have good credit but I did lose my job do to some brain damage. Dealing with red tape now but I really feel like it's still my calling to start helping others. I would eventually like to open them all over the US and other contacts as well as some sober livings and others. Any advice?
I am 18 in high school and I’m not sure if I should apply for a credit card now or waiting till later
Noted
John liang, why you liang? Jk im so close to be able to apply for blue cash preferred to my arsenal of cards 💪🏻
Again, stop with the peace and arm flaps. Doesn't suit you.
there is nothing wrong with it. you just want to complain.
@@chickensauce85 cringe is an understatement in this case
actually, Rosa Parks was specifically picked by the NAACP to sit on the bus they actually picked a darker skinned younger woman but they found out she was pregnant and black folks black then did not fuck with pregnancy outta birth so they tossed her to the side and got rosa old lightskinned ass. true store My grandfather was born in alabama and rasa parks was his baby sitter i didn't believe his ass for the longest and after he died i talked to my grandma about it and she told me he wasn't lying and other family on his side told her the same
For closing a credit card, I was an authorized user on my parents card but now I have my own. Should I closed my authorized account under them?
solid video
Love your credit videos. They're the only reason I'm able to properly build credit. But what do you recommend for getting an installment based credit account? I can't manage a mortgage currently, and it's not practical to get a car, and thus an auto loan, where I live. Is there something you recommend on a general level or alternatively, would it be fine to just get more credit cards as one is able?
NFCU secured loan.