This Payment Strategy Got Me A 800+ Credit Score
ฝัง
- เผยแพร่เมื่อ 20 พ.ย. 2024
- In this video, I will show you EXACTLY the Payment Strategy Got Me 800+ Credit Score.
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This video is for entertainment purposes only. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author make no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video. This video and description contain affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support the channel and allows us to continue to make videos like this. Thank you for your support!
I have all my credit cards' closing dates in my phone calendar with a 5-day reminder. Easy to do, enter the date once and then select repeat every month.
That’s awesome! 👏🏽
Same! 🙌
I usually pay all of my credit card bills the first week of every month...but may use them in between...maybe that's why I'm not getting that maximum credit score increase. Should I pay my bills 3 days before the statement closing date on each account?
Vbki
That Paying Off the CC 2-3 days before close Date and not using it till the Day after Opening Date.
I pay off everything every month but let one small balance report on one card per month. I find when I pay them all to zero, my score is 10 to 15 points lower than when I allow a small (say $50) balance report.
Yes indeed, I did this on purpose, to let it drop ,but you get those points back in one credit bureau cycle. Downside is losing that reporting month. Staying under 10-6% is the lowest you can have it(imo) ,unfortunately if your credit score is 750+ from what I'm noticing.(my personal experience).I have very high credit cards limits, it doesn't matter. When I forget and pay off my credit cards to zero balance I get a 20 point hit everytime, I have to remind myself to pay it just past the statement balance that's due.
I have some questions.
Is the best option to have a small amount less than 10% reporting for each credit card or as a total of your credit cards?
And when do they usually add interests?
My goal is to have good credit
@@barbieamica2023 I let a small balance report on one card each month. It’s usually one to two percent. I pay all the rest before the reporting (statement) date. On you card statement it will tell you when you must pay by to avoid interest charges. I have never paid interest on any of my cards and I am now near 800 FICO score.
Hi Naam,
Can you do a video similar to this but show how it would work if you have multiple medium-high balances?
For those lacking cash flow, how do you prefer to prioritize paying down credit card debt when you have multiple accounts? The debt snowball method? Or the debt avalanche method?
I use the avalanche method to work down the card with the highest interest rate, to save on interest fees over the long term. Once paid, then I tackle the next card with the highest interest rate and combine the snowball method here. Whatever dollar amount I used to CC1 will go to CC2.
Three days before your statement, clothing date to pay your bill that is your actual payment date anyway. Am I missing something?
If a current cc is offering a balance transfer(no hard pull, and has 2 times the avaliable credit limit) would you take it? It would stretch out the payment, pay NO intrest, and lower the overall utilization, as it's has double the avaliable credit.
Yea I would take it. Just factor in the balance tx fee.
What if I over pay after my account is paid off. Then it a credit to the account. I have done this for a year. My score is 788 and will not move .
I was thinking to pay my mortgage then put the last amount of my taxes to my NF credit card
Sounds like a plan
My balance was 5148 148 over my balance so I just paid all but 799.39 my closing date is the 11th
I'm available for Qs via my above address
Hey Naam, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
I'm available for Qs via my above address
Why does my credit card statement say to avoid being charged interest? Pay the new balance in full by the due date. I'm confused about all this.
Just pay the new balance credit card due date to avoid interest. It should be on the statement of the amount.
1st
Let’s goo!