Velocity Banking: Credit Cards = Pay Your Car And Home Off FAST!
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- Опубликовано: 13 сен 2024
- This video shows you how to pay your car and home off fast.....WITH A CREDIT CARD!!!
Thank you Eric! This is for you!
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I've been doing velocity banking for about 13 months now. When I tell you this has changed my life for me and my family would be an understatement. It works!!
Thanks to your teachings. Using velocity banking has helped me to pay down my mortgage tremendously during the last 15 months (PLOC). Many thanks! Happy New Year!
Your Welcome!!!! You are a valuable member to the Velocity Community. If you have any comments or want to answer any questions....please do. There are literally millions that need this!
First! I appreciate you so much more than I can express.
Hey, I appreciate you too!
Great job, I like your enthusiam. Thank you for your teachings.
I've just learned that if your investment property is in an LLC the banks will not do it. A HELOC that is.
many mortgages just allow you to make a principal payment every two weeks. what's is the difference between making and extra mortgage payment vs using simple interest?
Well, the credit card has interest to be paid too. Also, pulling cash out of the credit card incurs fees, how do you deal with that?
*You do it with a credit card with 0% interest.*
@@Jesus-kt5dc cool.. how about pulling cash out? that's never interest free
@@Jesus-kt5dc the guys barely has any credit with 2300 limit… kindda hard to imagine a 0% apr credit card right away. But I do know what you mean.
@@georgethetechboy3034 I know it is late but the method still works. You are paying the card twice a month. The cash advance fees don't matter.
Great video great energy good information but pleas invest in a microphone.
Hey Neighbor 😄
How do you pay for the car if they won’t let you pay with the credit card
I asked for upgrade for my credit card that allows payments through checks. I ordered checks. I write checks for payments from the credit card to pay loans.
How’d you determine the $2000?
I appreciate this channel immensely. My biggest concern is that you have no savings when you do this method. What about emergencies?
Most say to set aside 6 months of bills before you get started. But some times it makes sense to just get around $500-$1000 in savings. Other times to just get that much feee space on a credit card. Most months you won’t have an emergency so you’ll be able to use any extra money towards paying off debt. Some debts are worth keeping while others it makes sense to attack.
@@StephenGardner1 thanks. Makes a lot of sense.
chappahx velocity banking makes sense when you are in a position to do it. Until then, just what you can each month and it makes a dent.
@@StephenGardner1 wise advice. I've not had a debt problem but I've wondered whether it's a good strategy for paying off mortgage in SF Bay Area.
chappahx it’s too long to explain here in a comment but I’m not a big believer in paying off a mortgage. Locks up money. Grows in value regardless of whether you pay extra of not. Hard to access in an emergency. Better things you could put extra payments toward. Just my opinion but again too long to explain here.
MR. CJ !!!👊🏾
I'm confused 🤔... So you're asking my man to pay $2000 on his car loan and leave $300?.... Then you say keep paying until the $2300 credit card is full and back to full power and then take another chunk? 🤔 When you say keep paying.....Are you meaning the regular car payments until the credit card is full again and then repeat the process? 🤔 Great video 👌🏾
Hi Gina@creditmasterfixllc=com has always been there for me, treated me with respect and offered good advise. I would also recommend my family and friends to you
Magneto I love gina@creditmasterfixllc,com they is some very good people to work with thank you. An they make shore everything is done perfectly.
Wow! I didnt believe they really work, I thought my sister was just ranting about how fast Gina got her credit fixed lol. Thats really nice, I'll definitely check them out now.
So in this example are you saying to pay from a personal line of credit or to pay from a credit card?
I have been trying to get a PLOC but I always been told no, and instead banks want to give me a loan..As a matter of fact I don’t understand why I always qualify for a loan but never for PLOC..
What am I doing wrong?
Credit profile is not diverse enough you have to get all types of credit ,store, credit, bank cards and business cards and when you apply for a business card they will qualify you for a ploc
Not necessarily...however I get where you are coming from. Thank you for your comment!
Luis, you are not doing anything wrong! You can try other banks. I would try Navy Fed or Pentagon Federal Credit Union. There are also others.
Thank you..
Where you been. I don't get notifications anymore.
DAM! I like you method to paying off debt! Great channel
Thanks for the info, but why pay more interest in C.C. (15-25%) vs. Car Loan (3-8%)...? And also the minute you carry a balance over the 30% in CC, your score will drop substantially.
I trust you saw the latest video...it was made in your honor!
This is awesome 😎! I’m going to do it! My situation with the car smashing example is very close to this Eric example presentation! Got me 🔥 up! Gonna SMASH that principal!! Thanks for the video! Am glad this was not boring either! Great 👍 video.
Amad Almadanali Thank you for watching! What should I present next? Say it...and I will give you a special shout out and name the video in your honor!
Velocity Channel 👋Hey Thanks! 😀Wow! This is Great! I’m new to your channel I’ve watched your vids on the mortgage too which I’m gonna do after SMASHING mine & my wife’s cars! Our 1st car will be Smashed completely by next month!! I did the first chunk of 5k & next mo 2nd chunk of 5k & done! The cc card will be paid off also! Then the 2nd loan is my truck which is a lot! It’s 30k! Yikes! I want it off my back but I still need it so it’s gonna get Smashed!!But it will take longer maybe 18 months more. Then the mortgage smashed! But I also have 3 year old solar panels to smash then I’m done w all my debt. But we having nothing saved anymore. We recently moved back to our home state and depleted funds to come home. My wife isn’t working yet either, hopefully soon! We have 3 boys oldest is in 11th next year then 8 & 10 year old. I don’t have a clue about retirement or any other stuff like that. Your videos are easy to understand. If u have more money tips or tricks that make it quick and easy for a regular guy like me to do and understand. I heard you say savings accounts don’t help much so if I start saving where should I save? Do u have videos on how to make a plan cause I don’t know how to start one? I’m still watching your vids trying to learn about all this. I appreciate you sharing the information! Thank you again I look forward to your upcoming shout out & Info vids! You’re the best!🙏🏻😀
@@aalm7082 hey love your story are the solar panels a good idea?
@@ramondroscoe3745 Solar panels add value to your home. They are great! In Fl the weather causes outages a lot and I don’t have to worry about that happening to me anymore cause of the solar panels. In our state we got 500 dollar tax credit for installing panels. The electric co can buy back your energy you don’t use each month. If your considering solar shop around don’t let anyone rush you. They will look at your monthly power bills for an average then base that off what you would pay them instead of the electric co. How much energy panels needed to run your house. Also you can lease or own. Depends on what u choose if u want to put any money down or not. We like the panels and are happy with them. But definitely shop around get all the information you need first.
how can I pay my auto loan with my credit card??
When do you use your credit card to give the big chunk to your principal before your car payment or after and also that month do you not use your credit card for your car payment?
Sounds like we need to get some clarity on your particular situation Junior. Email me at creditwiz@investorpro.org.
how do you get ploc... they told me i had to have a business??
How do I pay a car loan with a credit card if they don't allow it.
Hello Jeffrey Jackson
, I got in touch with gina@creditmasterfixllc?com and she helped me... Am very sure she can as well help you too
Hello Jeffrey, Gina@creditmasterfixllc=com has always been there for me, treated me with respect and offered good advise. I would also recommend my family and friends to you
I can vouch for Gina when it comes to credit related problems and clearing of debt i don’t know how she did it but she increased my scores from 496 to 795 and and cleared all my credit card debt she did it professionally in a short period, she is a life saver guys. You can reach out and tell her i referred you Creditmasterfixllc?com or email her on GINA at CREDITMASTERFIXLLC dot COM You won't believe it until you see it.
Jeffrey, I love gina@creditmasterfixllc,com they is some very good people to work with thank you. An they make shore everything is done perfectly.
@@williambenefiel4925 Really nice seeing this here, gina@creditmasterfixllc,com also changed my life. By getting rid of my inquires and boosting my score, I was able to improve my use of credit ratio without having to do anything. This motivated me to get my negatives off, make sure all of my bills re on auto-pay, and brought my credit score up from mid 5s to 800.
What if your auto loan applies all extra lump payments to future payments and have a fixed precomputed interest?
You can ask them to apply to principal only. That is what I had to do or they said it would pay me up for a year.
Hello JTizzle0204
, I was also having the same issues but when i got in touch with gina@creditmasterfixllc-com she really helped me...And am very sure she can as well help you too
Hi Gina@creditmasterfixllc=com has always been there for me, treated me with respect and offered good advise. I would also recommend my family and friends to you
I can vouch for Gina when it comes to credit related problems and clearing of debt i don’t know how she did it but she increased my scores from 496 to 795 and and cleared all my credit card debt she did it professionally in a short period, she is a life saver guys. You can reach out and tell her i referred you Creditmasterfixllc?com or email her on GINA at CREDITMASTERFIXLLC dot COM You won't believe it until you see it.
I love gina@creditmasterfixllc,com they is some very good people to work with thank you. An they make shore everything is done perfectly.
Hi. I have $5.5K limit on a business CC that id like to use velocity banking for my $43K student loan debt however is still recommended to be under 30% utilization or does that rule only apply to consumer CCs?
If your business CC only reports to the Business Credit Bureaus then the 30% rule will not matter. I'd make sure your Business CC doesn't report to your personal credit before maxing out
Samuel Mintah
I just found out that it reports to 1 of the credit beaurus 😒. Damn it. Lol
Thank you
I need help with this please. I have a car loan for $11K with APR of 8.52%. And I have a credit card limit of $15K with 14.99%. I have a cash flow of about $200 a month. So how do I pay off my car loan faster using my cc?
Hello Elaine Gomez
, I was also having the same issues but after i contacted gina@creditmasterfixllc-com which was refered to me by my pastor.. And she really helped me
Hi Elaine, Gina@creditmasterfixllc=com has always been there for me, treated me with respect and offered good advise. I would also recommend my family and friends to you
Hey I can vouch for Gina when it comes to credit related problems and clearing of debt i don’t know how she did it but she increased my scores from 496 to 795 and and cleared all my credit card debt she did it professionally in a short period, she is a life saver guys. You can reach out and tell her i referred you Creditmasterfixllc?com or email her on GINA at CREDITMASTERFIXLLC dot COM You won't believe it until you see it.
Elaine I love gina@creditmasterfixllc,com they is some very good people to work with thank you. An they make shore everything is done perfectly.
@@heinrichmichael4938 Really nice seeing this here, gina@creditmasterfixllc,com also changed my life. By getting rid of my inquires and boosting my score, I was able to improve my use of credit ratio without having to do anything. This motivated me to get my negatives off, make sure all of my bills re on auto-pay, and brought my credit score up from mid 5s to 800.
I need your help!!!!!!! If I send you my numbers will you guide me in the correct direction?
Um, it might be nice to mention that you’re going to be paying 25% on your credit card balance til you can pay it off... Would offset everything you saved or worse
*You do it with a 0% interest card. C'mon dude use your brain.*
@@Jesus-kt5dc I doubt those looking into this method could qualify for a 0 interest card. Especially a long term 0 interest card
@@Baguley22 Yes, and once you pay off and CLOSE the auto loan the credit score will drop!
Looking to link with you.. and I'd like to have you do a presentation if you'd be up for it
I would love to Timothy. Email me at creditwiz@investorpro.org
We got a 200 k mortgage. Just had a baby. And will now lose everything over ten grand. A lousy ten grand
John, I feel for you brother.. please look at every option. If you have a credit card you can advance yourself the money through pastique and venmo. There are private money lenders that can help you out. Look for someone local who can be a private lender. Check out dave Ramsey. He's good for when your at that point. Dont give up. Good luck
@@benzworks8453 how do you do that thru pastique or venmo? Do you still get the cash advance interest fees?
learn velocity banking,we can help you if you have any questions,use venmo or plastiq to write a check to your mortgage,look at all of your options as long as you are making money and putting that money on that line of credit/credit card you will be amazed.
Preach!
Great question Melissa! The transaction fee is 2.5% on Plastiq, however, when you are talking about the massive interest that is charged on amortized loans...you will gladly pay that small amount.
28 percent interest on the card. Your nuts
It is...isn't it? However, it works as thousands of others have witnessed. Email me at creditwiz@investorpro.org
Credit cards use simple interest. Car loans, personal loans and house loans all use amortization interest.
Kristina Konkol YEP SIMPLE ALWAYS ....... THE OTHER ONE WORK PAYING FROM THE BACK NOT THE FRONT
How can I contact you directly to consult with you? Wonderful information!!
-Wyatt
creditwiz@investorpro.org......let's do it!!!
@@velocityc I sent you an email!
I didn't see your email yet! I can check again.
@@velocityc CJ.. I dont get it. I'm trying I need an elementary explaination....gonna email you. I have 1 credit card(no point/reward card) I have 5k credit limit. I wanna pay off my car!
So the credit cards are being used just to pay off debt faster. I thought it was to stack some paper too lol....
I have a car loan of $29,645.60.
My credit limit is 1000k, How can I use the card to pay off my car faster.
Hy monthly income is 3k.
Rich have to grow your credit limit,use 9% of your total credit every month for 6 months and ask for a credit limit increase from 1000 to 3000$ then you can start training your velocity banking strategies
eljuancho2 3k that seems like my whole monthly income.
Rich you don't want to use all of you credit so you can have an emergency fund,I have a 8k limit and I leave 5k clean in case of an emergency I use 3k to pay down debt,grow your credit limit be responsible
Awesome! Keep that commentary going....You are a help to the Velocity Community!
Hey if you need a customized strategy for yourself, I can put that together. However, eljuancho2 is on point with his explanations. My email is creditwiz@investorpro.org
Is cash advance included in the 0% apr?
No and that's one issue with what he said. He made it sound as tho credit card are as good as cash, when in fact there are fees for pulling cash out
This is so confusing.....
Hello Latoria Martin
, I got intouch with gina@creditmasterfixllc,com and she helped me.... Am very sure she can as well help you too
Hi Latoria, Gina@creditmasterfixllc=com has always been there for me, treated me with respect and offered good advise. I would also recommend my family and friends to you
Hey Latoria I can vouch for Gina when it comes to credit related problems and clearing of debt i don’t know how she did it but she increased my scores from 496 to 795 and and cleared all my credit card debt she did it professionally in a short period, she is a life saver guys. You can reach out and tell her i referred you Creditmasterfixllc?com or email her on GINA at CREDITMASTERFIXLLC dot COM You won't believe it until you see it.
Latoria Martin, I love gina@creditmasterfixllc,com they is some very good people to work with thank you. An they make shore everything is done perfectly.
Really nice seeing this here, gina@creditmasterfixllc,com also changed my life. By getting rid of my inquires and boosting my score, I was able to improve my use of credit ratio without having to do anything. This motivated me to get my negatives off, make sure all of my bills re on auto-pay, and brought my credit score up from mid 5s to 800.
Car loan 6 percent. Credit card 28 percent.
John Rider That 6% amortized interest is more that 28% simple interest.
that 6% armortized loan is killing you without you knowing it,get a loan calculator and see how much you are really paying,vs a simple 28% credit card
Eddy, you are invaluable to the Velocity Community. Awesome comment!
The Velocity Channel Thank you! I always watch your videos. I have learned a lot from them. God bless you.
Thank you Eddy...you ain't seen nothing yet
Hey CJ, I get confused when paying from my checking's account to pay the credit card off... the mix-up comes in with transferring the monies. I am setup on auto pay with my debit card on my mortgage loan.
One Moelove Thank you for watching! Just remember to think of your credit card as your checking account. And remember that your credit card is not a bill. Because you can use the same amount of money that you paid into your credit card. What should I present next? Say it...and I will give you a special shout out and name the video in your honor!
@@velocityc Thanks so much for responding. I'm trying to break down in my mind exactly how to do monthly payments on a mortgage and a car loan. I'm thinking breaking up the payments in two by using the credit card on the 1st and the 15th of the month. Now, paying it back is the tricky part for me.
@@onemoelove4376 Let's talk....go to my website: velocityc.com and choose the Velocity Session. We'll get you on the right track
@@onemoelove4376 that's what I'm trying to figure out how to do because the idea came to me. But this video is all over the place. Imma find somebody else that explains better.
Have you found it yet?
I cant. You Over-Goofy. I know your trying to stand out.... but tone it down my man
Dude, please the theatrics is turning me off....REALLY.
Not me I like the personality he sure ain't dry & boring