How to Get an 800 Credit Score | And What NOT To Do
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- เผยแพร่เมื่อ 31 ก.ค. 2024
- This video shows you everything you need to do to increase your credit score and keep it above an 800! This video will help you get to the point where banks love to give you money!
Chandler David Smith has been investing in real estate for the last 7+ years! During this time he has been able to acquire 99 units of rental real estate, a majority of which have been funded through borrowing money from banks do you to his exceptional credit score! In this video Chandler shows you everything that you need to know to be able to increase your credit score to 800+! He also explains how the system works so that you understand what affects your credit score positively and negatively. The goal of this video is to help you understand how credit works and how to use the system to your advantage so that you can have a perfect credit score and be extremely fundable in the eyes of a bank. This video will cover every facet on your credit score and help you to make all the right decisions to get to the perfect 800+ score! This video will show you how to increase your credit score for 2020!
#creditscore #800creditscore #increasecreditscore
Want to learn more about getting pre-approved for a home loan? Check out this video!
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www.myfico.com/
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Phenomenal information! My 3 FICO 8 scores are currently in the 750s and 760s, so I'm not super far off from hitting 800. I've been actively trying to get there for about the last year and a half to two years and I've kind of been stalled in the mid-700s this whole time, which I shouldn't complain about because that's still a great score, but I REALLY want to blow past 800. I feel like credit is almost like playing chess or checkers when it comes to figuring out the best moves to make to increase your scores. I've had my mortgage for almost 15 years and my current auto loan for exactly 3 years and I have 12 credit cards. My current utilization is at 24%, but I just got 2 new credit cards with a combined total credit limit of $12k, so once those hit my reports, it will drive my utilization way down and hopefully my scores way up. I also paid off a few of my cards and paid others down, which will also help. My goal is to at least hit 800 by the end of 2022!
Your subscriber growth is aspirational. Keep up the great work.
I appreciate it, thanks!
Excellent information Chandler!
Thank you!
I closed a card with an 8k limit and 5-6 years of good payment history - about 1 year ago. I regret that so much. I reopened the same credit card, so just redoing that now. I've got a few years before buying a house anyways. I definitely agree about not overutilizing debt - I never carry debt on the card now, before I couldn't.
A bad credit score has also cost me in extra rent costs (and extra deposits), extra in cell phone bills, insurance, and deposits for bills. I've FINALLY gotten my score up to 800+ with the help of {Jon@creditpatchup.com} . Unfortunately those late/missed payments have really hurt me. Credit cards weren't my problem...it's all student loans and others but . finance cleared it all, thank you {Jon@creditpatchup.com} ....
I can't figure out when to pay off the balance either. Some You tubers say by the clising date, others say by the statement date. Thanks for being honest and confirming that it's hard to figure out. Mostly, I pay off balances in full before the due date, which is a few days befoe the closing date. Thanks again for your honesty.
Chan-the-man preaching it!
Thanks for watching!
Chandler, how close is your FICO to the one the bank pulls when you get a mortgage?
I paid off my last credit card last week and my credit score went from 761 to 801 😍🥰
Congrats!
I don't even think this is possible lol
@@griffen5748 *Ready to buy a home*
I was referred to Credit MasterFix LLC by a mortgage company with a score in the low 500’s. I worked with Roy & Jennifer throughout the process of getting to where I needed to be to purchase a bigger home for my family. Within 14 days, I was up to the high 700s and soon after, I received good news that I was ready to buy a home. When I say that this company has helped me, it’s the truth! [creditmasterfix.com]
@@griffen5748 depends how long it took if it was overnight yeah that’s impossible
I'm calling BS. It takes longer than that for the bureaus to update.....
Thank you
Thanks for watching!
Am watching you from Africa in Eswatini. I am working scoring my credit score so I can get money for real estate
That’s great!
Is HELOC like a credit card where I should only use 10% of my limit? Or can I use more so it's more similar to a home equity loan?
If you aren't using CCs like a debit card with benefits....
You're doing it wrong
Good video, no bs like G.stephan
Welcome to my feed
Yes 👍🏼
chandler is a god
👊🏼👊🏼
Saved over 30k throughout high school by working over 30 hours for most years. Graduated and wanted to buy a duplex. Got denied because I had no credit. Wanted a business loan a few months later. Got denied because of limited credit. People don't understand how much it hurts them not to focus on credit. I'd rather have an 800 score than 30k. You can leverage more and it is easier to build a foundation around.
Exactly. Having a good credit score is MUCH more powerful than having a lot of cash on hand. Unless you're somehow independently wealthy and have millions of dollars in the bank, you're going to NEED good credit in order to get the things you want and need in life, such as a house, a car, credit cards, personal loans, etc. A strong credit score is the key that will open the door to all of those things. It took me a long time to realize this, but I now finally get it and I'm obsessed with my credit. I check it almost daily and am constantly looking for ways to bump up my scores. I truly believe that the public school system in America has seriously failed us by not teaching us about personal credit and how incredibly important it is.
I bought my first Investment property with a 640 credit score, I’m now at a 720. Good shit chandler!
Congrats man!
Refinance and get better rates because low interest rates and a higher score. Could save you alot in the long run.
Chan-the-man appropriate it
Currently at 650 from some bad moves when I was a teenager and my mortgage broker is making me pay off $2100 in debts before he gets me a pre-approval 🙄 Thanks for this video
I respect ✊ Allforgodcyber1@gmail.com
Thanks for watching man!
I was able to remove my tax lien and unwanted collections on my credit and also had my credit increased from 598 to 810 within a short time with the help of Mark Lazzaro from Credit Patch-Up LLC. Someone from work hit me up with them, at first I was skeptical about it but I contacted him because I needed to get a loan, now my family is happy and grateful to Credit Patch-Up LLC for helping me . I have recommended him to few of my friends and you can contact him through email (Contact@creditpatchup.com) f you need your credit fixed too. Cheers.
Chandler’s credit plan works amazing !! I’ve Tried it since his last vlog on building great credit. I now have an 803 FICO!! Credit karma is also a good gauging system to keep tabs on your credit history plan accordingly monthly. Thanks Chandler 👍🏼🙌🏼👌💪👏Chandler is the 💣
Thanks so much man!
Is Borrowell a safe way to check and keep up with your credit score?
Interesting 🧐
Chandler, would you considered a Condo to be a good starter once I have excellent credit? I know some real estate investors don’t like investing in Condos
A condo was my very first investment property. It wasn’t the most well thought out investment because I paid for it in cash (didn’t know all the benefits of leverage quite yet) You have to start somewhere! As long as the numbers work
I was recently 830 a year ago fast forward to now it's now 750 what do I do to get it back up?
I’ve watched a few of your videos and I love them! So helpful! I have a few questions still if you have anytime to answer them! Thank you!
Go to credit karma or experian and you can easily see when every single credit card company reports. Just pay it off a few days before and don’t use it 8 days after that date. It’s simple.
A bad credit score has also cost me in extra rent costs (and extra deposits), extra in cell phone bills, insurance, and deposits for bills. I've FINALLY gotten my score up to 800+ with the help of {Jon@creditpatchup.com} . Unfortunately those late/missed payments have really hurt me. Credit cards weren't my problem...it's all student loans and others but . finance cleared it all, thank you {Jon@creditpatchup.com} ....
I have a 720 score, my tenant has 850 haven't seen anything that high, rented in a sec.
What is the brand of ur shirt? Awesome video
BYLT! I own one in pretty much every single color. Best shirt out there hands down
Is it alright if you use like 1% lets say you have a high credit line and you spend close to nothing does it affect you badly or is that good?
Yes, 1% is absolutely fine. Just keep your overall credit utilization no higher than 10% and you'll be good.
I only qualify for secure credit cards where I have to have $200 to open the account is that worth investing? Or do you have other ideas?
Yes, they absolutely ARE worth it. You need to start building credit somewhere and if all you can get approved for right now are secured cards, then by all means go for it. Once you've established positive payment history with the secured cards, it will increase your scores and you should be able to qualify for unsecured cards. You're going to want to have 3-5 credit cards to really establish a solid credit history. Having only 1 or 2 cards isn't enough as it will leave you with a thin file. Just make sure that the companies you are getting these secured cards from are reputable. Capital One has a great secured card as does Discover, Bank of America, TD Bank, etc. Stay away from the predatory, less commonly known companies.
@@jrwheeler81 thank you
How does 10 percent utilization rule work with charge cards
The 10% utilization rule applies to ALL credit/charge cards.
Chandler, you need to payoff your debt, it's not worth leveraging. I play the credit game as well and all three of my scores are 815, 815, and 815. I have 17 rentals that are paid off. I have only 3 credit credit cards that I have had since I was 20. The cards now have a 100,000 credit limit on all three but I pay off the credit cards each month. I will never have an 850 because I will never get a installment loan and I will never have a credit card balance. I'm debt free and rich. These fools at the bank beg me every damn day to borrow money but I always say I will let you know. If you don't need the bank's money, they will kiss your ass, if you need their money, they want you to kiss their ass. Get debt free and stay rich....
Well I'm first
Nailed it!
Don't they pull your credit on your statement date..? I saw that from another financial TH-camr
780 is the Gold Standard
Thank you for this video. I’m currently at 750 for my credit score with having 2 credit cards and 1 auto loan. No balances on my credit cards. Any advice to help get me to the 800 range? I’ve had my credit cards and my auto loan for 2 1/2 years
Me too!! I can’t go above 768 for some reason
Chandler - what is your net worth??
🤫
🙇♂️
Honestly tho, I'm super curious. I'm the kind of person who is super nervous about debt, but SUPER ready to live that life style.. i just wonder how much are you actually invested versus how much your FICO says you owe
If I carry a zero balance on my credit cards & bank's line of credit from statement to statement does that count as being "current" on payments? My credit card is used for everything but I pay it off at every week's end so I end up with a zero balance each month. My bank's line of credit is never used and I want to know if those months I don't use it are counted as current payments made on time? Is it better to pay off my credit cards with the banks line of credit, and then pay that off the same way I've been doing with my credit cards normally to maximize the number of payments reported to the credit bureaus?
Yes, it counts as current. Even if you always carry a zero balance, they will sill report as paid on time each month
What up chandler why don’t you invest in commercial properties
Technically, his larger scale apartment complexes are considered commercial, but I get what you mean
Like shopping center or gas station
I have a little, but residential is where I’m the most comfortable right now
I thought you were talking about SAT at first..... Lol.
Hahaha definitely don’t take my advice if I’m encouraging you to get an 800 on your SAT 😂😂
@@ChandlerDavidSmith I'm dead🤣😂
⭕️Rating and details as of 7/7/2019 !
Statement date
Hey Chandler, How long does it take for one late payment to be removed from your history? I have one late payment from 4 yrs ago and it is still showing...
Should be up to 7 years. Call them and see if you can make a deal to remove it. There are a few options to remove them.
Just like collections and charge-offs, late payments stay on your reports for no longer than 7 years. You can try to get it removed sooner by sending what's called a goodwill letter to the company reporting it and request for it to be removed. The worst that could happen is they say no, but it's always worth a shot.
Credit score in A,erica just seems a lot hassle, we have something like it Sweden but it’s not required to be in recurrent paid debt to prove you’re reliable. Here it’s just have a basic income and and not be in debt and voila you have a high score.
There are definitely a lot of hoops to jump through here
Hey Chandler, want to do a video where you help a subscriber reach financial freedom? Or at least the knowledge to get there. From broke and broken to thankful and thriving. Making millionaires could be your new playlist on your channel.
Love it!
Pro tip: you don’t need an 800 score just 760.
Agreed. A mid to high 700s score will definitely suffice. I think 800 is more of just a vanity number, but I'm still trying to get there, LOL.
Pay your bills and it’s easy.
Lol.
If your fico is under 700 your not doing something right. Just pay your bills and keep credit cards under 30%
*10%😜 just sharing my new knowledge lol
30% is just what the bureaus say your maximum utilization should be; however, if you REALLY want to bump up your scores, keep it at 10% or less.
I like how people just say PAY YOUR BILLS ON TIME🤦🏾♂️ if it was that easy,everybody would have a 800+ credit score 🤷🏾♂️
HIS BOOKS ARE IN ROYGBIV ORDER!!!!!
sorry.... -_-
I have a very specific set of skills that allow me to make you money...
Whats with all this spam, we get it some doctor fixed your shit one post will work better than spaming same site so many times.