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Do you show people that purchase the subscription how to open an investment account and also how it works? For those that know nothing about investments.
We paid off our house, and my credit dropped 30 points in the following months. It's currently as low as I can ever remember it being, in the low 790's. Paying off debt apparently isn't how you get credit scores up.
Correct. If you refi or buy another more expensive house, it'll go back up. If you're debt free, pay cash for vehicles and have only one credit card like I do, your score wont even hit mid 700s
Yes, removing the positive scoring accounts from your credit hurts your score. What a mystery.🙄 Are you also confused when removing negative scoring accounts raises your score?
Then why would you need credit? Credit score is your ability to pay back current loans to see if you can handle more loans based on the credit bureaus criterion. If you have no loans, you have no need for a credit score
@@Davies27549why did it take so many people two years to achieve that? im confused because i got my first credit card in january of this year and my credit score is 781 today
Imagine sweating your ass off to get a credit score in a country who can't handle their fiscal responsibilities but will actively punish you for not staying on top of yours.
Here’s a tip for parents with teens. Put them on your credit card at age 14 as an authorized user without telling them. We did this with our daughter and now she’s 20 years old in college with a 790 credit score. 🤑🤑🤑. We told her to check her credit score on her 20th birthday and to our surprise she has a 6 year credit history and on her way to financial success.
They really need to stop allowing parents from doing this. For every 1 child like yours, theres 10 kids like me who get the pleasure of dealing with debt collectors at 18 for things their guardians bought.
@@SpoonHurlerAuthorized users are not responsible for any debt on the account. Also, if your parents are irresponsible and misuse the credit card that you are an authorized user on, you can have the activity removed from your credit report. It's completely harmless. I'm not sure why creditors were after you at 18, but it wasn't because you were an authorized user on your guardians account.
@@SpoonHurler the banks better not stop allowing parents to put their kids on their credit cards as AUs. That debt collector comment is BS unless your parents committed fraud when adding you. Now if they were just degenerate spenders you have recourse to remove those bad marks from your credit profile.
Appreciate both the content and your explanation to each point (all points extremely important) presented. You make it all make sense. Looking forward to your videos about investing and options trading. Thank you
I have had that for over 30 years, simple... just pay your bills in full before they are due, live below your means, keep ratios low..do not carry a balance. Keep some credit cards and never cancel them even if you stop using them because it provides history.
All good info. I was well into my 30's before I figured out most of this. They REALLY need to teach this in High School, as well as preparing a tax return. Schools desperately need a class on being fiscally responsible.
The reason this isn't taught in schools is the same reason investing in IRA's 401K's and HYSA isn't taught in school... the system is designed to keep you dumb and broke. The system wants 9-5 slaves. Most people are.
financial education is severely lacking in highschool, almost by design. instead they force teens to learn math that won’t help IRL. Financial and societal principles/values should be high priority subjects
During my working career, my credit score was just above 700 which was fine. I then retired and on a fixed income. Both of my vehicles are 20 years old. My travel trailer was bought with cash. About ten years after retiring, I paid off my mortgage quickly with double payments and then a lump sump payment for the final payment. I then started paying off my credit card balance shown EVERY WEEK. My credit score then jumped to 840. It really doesn't matter now, because at my age, I don't plan on buying anything expensive.
Congratulations, *DaleValskov* I am relieved that you are out there fighting these thugs, We musttake every precaution to protect the elderly and the general public from these despicable con artists. Congratulations to You!! You deserve the Nobel Peace Prize for ensuring our security.
The way you guys just remain humble & move behind the recommendation is how more people should move. You Prime consultant 001 deserve it all! This Helps people see how much of an angel cognitive notch is. I'm proud of you man. The Main reason you inspire me to help people.
You showed great composure, experience, and thinking while dealing with the issues i had about my credit. Your level of quality work remains unprecedented, Thank you for all your help. Without your hard work, patience, and agility, i wouldn’t have completed raising my credit score before the deadline. You rock Prime consultant 001
I can say this the credit score will never stay the same it goes up and down all the time I’m 720 to 750 down to 680 back to 750 all under one year I only have 4 credit cards 💳💳💳💳😊
Whoo Hoo, I'm Excellent!!! 30 years ago I had NO credit, hard work and paying my bills worked for me. No debt and paid off mortgage allowed me to retire at 60, 2 years ago. I am a high school dropout that became a millionaire as a blue collar worker 😊
During my last semester, I been going through some rough times on getting myself less distracted and I sometimes get jealous on the people that are smarter at my college but thanks to this video I finally wanted to improve on my knowledge and work ahead on my goals on being an environmental scientist. Thank you Prime consultant 001 for making this video because that will help improve my work-life balance in the future
While paying down credit, I find that credit stays above 800 if I pay in weekly chunks. One before the closing date. One just after the closing date. And two more payments before the due date. It's much easier nowadays with Internet access and apps. I do similar for mortgage and auto loans. TY for all you do to help others.
Its annoying how quickly they reduce your score if you make large purchases, yet they are slow to give you the points back or don't give you the same number of points back when the payment gets paid in full by the due date.
Possibly the most sound advice I've ever been given on how to build my credit. I struggled when i was young and tanked into the low 5s. I've not been able to get into the 7s yet. Now i think i understand why. Ty Brian!
I'm a sixth grader and goddamn it we have 11 subjects to study But thank you Prime consultant 001, I love your channel so much , it has made it easier for me to study 11 subjects and I even recommend your channel to my best friend. You don't only talk about problems but also about their solution. Thank you so much
If you are learning this valuable information in the 6th grade. Wow you are already doing better than most. I know I wasn't doing this in the 6th grade. Respectfully.
Wow..Every School Kid should watch this. I asked my 20 year old Son to do so and then discuss it with me. Superb content that shines above the dross..Thank you very much.❤
Very well done video, trying to answer almost every question most people ask while keeping the video moving along. I have had the benefit of correcting my Credit score and I can say you are going to help a huge amount of people who finally want to start helping themselves.
I have been a grateful subscriber for about 8 months and I'm not going away. Whether your topics are about finances or politics, I always find the presentation to be reasonable. It is never partisan. And your advice about credit scores is excellent. Thank you so much!
Great information except for one thing. If you are trying to save the interest charges or keep your utilization rate down, you need to make a payment to your credit card no less than 3 days in advance of the statement date. Most people do not know what the statement date is. It's sometimes hard to find on your statement, but this is the date where the interest is charged and the date the credit card company reports to the bureau's.
@jf-be4zy Okay, technical question. You say you pay it off when it's listed, guessing you mean on your statement. This means it's already passed the statement date.
I just wanted to say thank you for sharing this. Because you're right. The worst thing that you can feel is hopelessness. And I hope that someone who is on the verge of losing hope finds *Pecuniary backdoors* and realizes that as long as you're still alive and breathing, there's a chance, there's HOPE that the future is brighter then the present day.
I really enjoyed this video. It was informative and I truly appreciated the teacher/instructor tone you have. That made it easy to take in the information. I hate fast talkers which come off as hustlers.
8:00 I use credit arbitrage and often have a balance on 0% apr cards while generating interest on the money during the intro APR period. I either pay it off completely or do a balance transfer at 3% to another 0% card to continue generating 4.3-5% interest. You should do an arbitrage video
Having been all three, I like super prime seating the best. Personally, we are wickedly over extended (imho) and of course utilization is high as well, but they still keep offering us credit right and left, it's unbelievable. Thank you for tip #2, I just used a credit card because they were going to close the account (not one I want to close, high limit) so I charged something small just to keep the card active. Thanks Brian, have a great day!
Hello Brian and thank you for this crucial info. Thank you for caring. When my husband had a stroke in 2017, he could not work so alot of bills colapse. He has been back at work and we are slowly paying things off and not using credit so muxh. Now we just need extea income to buy a home soon. We are in our 50s and 60s too. Thank you for all you do. Jesus loves you!
Per Brian's recommendation to make multiple payments on a credit card that you normally pay in full before the due date, there is another way that is also effective. Find out what your statement cycle is. Eg, the 5th of the month to the 4th of the following month with a due date of 3 weeks after that, say the 25th. Pay your card down or completely in full the day before the statement cycle posts; in this example, the 3rd of every month. This tricks the bureaus into thinking you never used the card. Oh...and make sure your cards pay you cash rewards and do not charge an annual fee. ❤
I have a 790 score and it you do not have the money to back up the loans you are applying for you may not get approved. The lender will look at your debt to income ratio to see if you can qualify for the loan. Great credit, but you need to have money to back it up to make the payments.
What a wonderful video. I had my credit score drop over 40 points whenever I cancelled my AE Gold card that I had had for over 25 years. I cancelled it because I didn't want to pay the high annual fee that American Express charges to have their card. I have another card that doesn't charge any fees, plus it pays me cash back. My credit score is still excellent, but it still bothers me that my score dropped over points. Diane
Brian giving out Tinder tips 😂😂. Great video btw. When i moved to the US my first credit score was 704 at 21 years old. It’s so simple yet people are so undisciplined.
@@I.Have.The.Juice. Just about every American regardless of age walks around with the most advanced technology known to the human race in their pocket; yet instead they choose to only use it for funny videos of cats dancing. If a 20min TH-cam video is all it takes to be 'educated' then I have no sympathy for anybody claiming to be 'uneducated' on this topic.
I have 850. Use 2 credit cards to the tune of ahout 5k/mo for any all expenses i can. Pay off before cycle end for the rewards points. Paid off auto loan, no student loans, just the mortgage. Every thing always on auto pay.
Thanks for the video man. I watched 'til the end just because it resonated so much and really helped reinforce the ideas I vaguely had about it all. It's a rough journey for the build it back team.
Brian, my credit score has modestly moved between 800 & 840 over the past 10 yrs; 73 yrs old now; my simple formula is no debt, pay credit card balance every month, enjoy life; I lease a condo; and don’t even bother to balance my checkbook (ok, well, I hardly write any checks). Thanks for your thorough reporting.
802 is my max score, i can never go beyond that because of my good debt(positive equity) on 2 houses. I rem when the mortgage lender sold my mortgage account(one of the houses) and was briefly in paid off status which was report to my credit. It jumped to 837 then when it showed that I had the loan with new mortgage company it went back down to 802....lol
Hey Brian - not sure if you'll see this or have any answers. I recently hit 800+ on my credit score; all I have is a mortgage and student loan. My student loan balance was a lump chunk of 15k and my credit report reflected such. My provider sold the loan to another servicer; who then broke up the 15k into 5 different accounts, smaller chunks of course, but my credit dropped back down to well under 800. Is there any recourse here or just have to let it play out?
Mine is 843. I pay all my bills every month and make sure my credit card is paid in full before the end of the billing cycle. Mortgage is our only debt and it, including property taxes, is about 30% of my after-tax household income.
Don't jeopardize the freindship is the key point I got off this. Told my friends years ago id rather not lend money and continue our friendship as is then to say yes and have it hinder the friendship to the point where we treat each other as enemies . You'll hate my No today but you'll get over it and we're good. If I say yes and you don't pay back then we hate each other for years. Thats really corny!.
A credit building loan. Depending on your state, look into the Capital Good Credit Builder Loan. It's affordable. You can also add them as an authorized user on your credit cards as long as you have a good payment history.
You can start when they are born. Open a credit card in their name/SSN. This is completely legal, but you will hear about kids who find out as adults that their parents abused credit in their name. What you can do, is make a monthly charge to the card and pay on time. If you do this their whole life they will have 18 years of good credit built up.
Great question ! Hopefully, he does a video on it. I learned the hard way just how important EARLY payments can be. eg due on 10th, i auto pay on the 5th.
You can add your child as an authorized user to your credit card account. Some creditors have an age limit so verify with the issuer. I added my child at 16. By the time she turned 18 she had great credit and was able to obtain two of her own cards without any trouble. You don’t have to give the card to your child, just adding them will improve their history and credit age as long as you pay your bill.
Thank you so much for this wonderful video. I think it’s the best one you’ve done. I learned so much from this video. Thank you for explaining everything and making it simple to understand. Keep up the good work!!!!👍🏼
I paid all my accounts off before leaving the US to live in Ecuador in 2016. My credit score is now 611 while I owe no one in the world even one penny. Makes sense.
Thank you so for this informative video. I love your content! This is an important topic but often times, you have to pay someone to teach you what you just put in this free video. I can't say thanks enough. God bless you and your family!
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
![ลองสุ่มไอโฟน 990 โกงมั้ย? [ โกงมั้ยครับ ep.101 ] | DOM](http://i.ytimg.com/vi/bfsWe0j492k/mqdefault.jpg)
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YOU REALLY, BROKE IT DOWN 👇 ... BABY STEPS ... WELL DONE ..
Do you show people that purchase the subscription how to open an investment account and also how it works? For those that know nothing about investments.
Read your bible! (KJV, preferably) ❤️
We paid off our house, and my credit dropped 30 points in the following months. It's currently as low as I can ever remember it being, in the low 790's. Paying off debt apparently isn't how you get credit scores up.
Duh they want you to stay in debt FOREVER!
Correct. If you refi or buy another more expensive house, it'll go back up. If you're debt free, pay cash for vehicles and have only one credit card like I do, your score wont even hit mid 700s
Yes, removing the positive scoring accounts from your credit hurts your score. What a mystery.🙄 Are you also confused when removing negative scoring accounts raises your score?
Then why would you need credit? Credit score is your ability to pay back current loans to see if you can handle more loans based on the credit bureaus criterion. If you have no loans, you have no need for a credit score
yeah WT heck! same here
Currently went from a 560 to a 725 in 2 years, very proud of my score.
Would you say that you followed the tips in this video? Or did you do something different?
Any advice?
Any tips? I'm currently at 605
Yes. Same thing to me from 639 to 725 in 2 years by keeping total utilization under 10% and no late payment in 2 years.
@@Davies27549why did it take so many people two years to achieve that? im confused because i got my first credit card in january of this year and my credit score is 781 today
Have you ever noticed when you use credit it goes on your report right away and when you pay off your loan it takes forever to reflect on your credit
Yes!! 😂
Credit companies report balances as short as every 5-7 days. (Weekly). Just info to know.
The small hat credit system keeps ya financially enslaved.
Yup
Exactly 😞
Imagine sweating your ass off to get a credit score in a country who can't handle their fiscal responsibilities but will actively punish you for not staying on top of yours.
Totally agree
Excellent comment.
It’s better that being poor
Yea well it's capitalism at it's finest...if you don't like it perhaps you want to go back where you came back or relocate hun
@@imanjones3807 Imagine thinking this is capitalism. You should have stayed in your college safe spaces. 🤡
Here’s a tip for parents with teens. Put them on your credit card at age 14 as an authorized user without telling them. We did this with our daughter and now she’s 20 years old in college with a 790 credit score. 🤑🤑🤑. We told her to check her credit score on her 20th birthday and to our surprise she has a 6 year credit history and on her way to financial success.
They really need to stop allowing parents from doing this. For every 1 child like yours, theres 10 kids like me who get the pleasure of dealing with debt collectors at 18 for things their guardians bought.
@@SpoonHurleri see this problem on financial audit, the children getting destroyed by irresponsible parents
@@SpoonHurler wow, that’s crazy. Sorry to hear that
@@SpoonHurlerAuthorized users are not responsible for any debt on the account. Also, if your parents are irresponsible and misuse the credit card that you are an authorized user on, you can have the activity removed from your credit report. It's completely harmless. I'm not sure why creditors were after you at 18, but it wasn't because you were an authorized user on your guardians account.
@@SpoonHurler the banks better not stop allowing parents to put their kids on their credit cards as AUs. That debt collector comment is BS unless your parents committed fraud when adding you. Now if they were just degenerate spenders you have recourse to remove those bad marks from your credit profile.
Bonus- to boost your score, pay credit card bill before the end of billing cycle, NOT your due date. It is weeks before the actual due date.
That's actually idiotic, it makes more sense to take the free loan of open credit, earn interest , and then pay by the due date.
@EricVigod wrong keeping your utilization low is literally how you boost your credit. i.e., paying in full asap
@arxci9402 Now that's the truth. When it's visible. Not everyone can pay off in full.
Read your bible! (KJV, preferably) ❤️
Appreciate both the content and your explanation to each point (all points extremely important) presented. You make it all make sense. Looking forward to your videos about investing and options trading. Thank you
I have had that for over 30 years, simple... just pay your bills in full before they are due, live below your means, keep ratios low..do not carry a balance. Keep some credit cards and never cancel them even if you stop using them because it provides history.
I'm at 767 came all the way from 550
That’s excellent
Nicely done! How long did that take??
@@SIC1SIX 9 years now
How long did it take
For me without no job 3 years from 550 to 757 @@Dwaynemcgriff
I've worked in finance my entire career, auto's, mortgage, RV's etc. This information is true and correct.
All good info. I was well into my 30's before I figured out most of this. They REALLY need to teach this in High School, as well as preparing a tax return. Schools desperately need a class on being fiscally responsible.
I wish schools would teach this too, but they're too busy trying to indoctrinate and teach kids about gender and pronouns.
The reason this isn't taught in schools is the same reason investing in IRA's 401K's and HYSA isn't taught in school... the system is designed to keep you dumb and broke. The system wants 9-5 slaves. Most people are.
I totally agree on this
financial education is severely lacking in highschool, almost by design. instead they force teens to learn math that won’t help IRL. Financial and societal principles/values should be high priority subjects
Yup see here I really dropped the ball in using credit lol
Simply the clearest explanation of how credit scores work that I've come across, Thank you.
During my working career, my credit score was just above 700 which was fine. I then retired and on a fixed income. Both of my vehicles are 20 years old. My travel trailer was bought with cash. About ten years after retiring, I paid off my mortgage quickly with double payments and then a lump sump payment for the final payment.
I then started paying off my credit card balance shown EVERY WEEK. My credit score then jumped to 840. It really doesn't matter now, because at my age, I don't plan on buying anything expensive.
And it's a great thing you paid off your mortgage.
Excellent!
They probably want you to buy more stuff in credit
Don’t say that.. of course there’s something you can do. You can co-sign for me 😁
You can get lots of perks...points to travel, getting luxury hotel suites etc.!!
Brian, you've consistently produced quality, informative content on this channel for years now. We salute you for your service, my good sir!
Congratulations, *DaleValskov* I am relieved that you are out there fighting these thugs, We musttake every precaution to protect the elderly and the general public from these despicable con artists. Congratulations to You!! You deserve the Nobel Peace Prize for ensuring our security.
The way you guys just remain humble & move behind the recommendation is how more people should move. You Prime consultant 001 deserve it all! This Helps people see how much of an angel cognitive notch is. I'm proud of you man. The Main reason you inspire me to help people.
You showed great composure, experience, and thinking while dealing with the issues i had about my credit. Your level of quality work remains unprecedented, Thank you for all your help. Without your hard work, patience, and agility, i wouldn’t have completed raising my credit score before the deadline. You rock Prime consultant 001
I can say this the credit score will never stay the same it goes up and down all the time I’m 720 to 750 down to 680 back to 750 all under one year I only have 4 credit cards 💳💳💳💳😊
Mine is the same. 720 to 760 every year depending on when I look.
I am in my 60's and I never knew all this. So helpful and life changing. THANK YOU SO MUCH!!!!!!
Whoo Hoo, I'm Excellent!!! 30 years ago I had NO credit, hard work and paying my bills worked for me. No debt and paid off mortgage allowed me to retire at 60, 2 years ago.
I am a high school dropout that became a millionaire as a blue collar worker 😊
Recently started making good money since the pandemic but my credit scores 600. Got some work to do, needed this video, Thanks Brian!
During my last semester, I been going through some rough times on getting myself less distracted and I sometimes get jealous on the people that are smarter at my college but thanks to this video I finally wanted to improve on my knowledge and work ahead on my goals on being an environmental scientist. Thank you Prime consultant 001 for making this video because that will help improve my work-life balance in the future
Thank you for sharing your wealth of knowledge Brian! There are so many "credit repair" companies taking advantage of people.
While paying down credit, I find that credit stays above 800 if I pay in weekly chunks.
One before the closing date.
One just after the closing date.
And two more payments before the due date.
It's much easier nowadays with Internet access and apps.
I do similar for mortgage and auto loans.
TY for all you do to help others.
This is the most clearest advice and explanation of credit score and credit card usage I’ve ever seen great job😊
That’s so kind of you, thank you!🙂
Its annoying how quickly they reduce your score if you make large purchases, yet they are slow to give you the points back or don't give you the same number of points back when the payment gets paid in full by the due date.
I just paid off both of my car loans. I was so happy.. then I found out it lowered my credit score... that is annoying 😑
Is really stupid! Everytime you paid off your debt, goes down up to 20 points! Doesn't make any sense!
It’s like your a better credit risk if your actually using credit rather than just having credit available.
Just a few months, unless you plan on making another big purchase
Happened to Me in May when I paid mines off
Mine dropped 100 points after paying my car off
Possibly the most sound advice I've ever been given on how to build my credit. I struggled when i was young and tanked into the low 5s. I've not been able to get into the 7s yet. Now i think i understand why. Ty Brian!
I'm a sixth grader and goddamn it we have 11 subjects to study But thank you Prime consultant 001, I love your channel so much , it has made it easier for me to study 11 subjects and I even recommend your channel to my best friend. You don't only talk about problems but also about their solution. Thank you so much
If you are learning this valuable information in the 6th grade. Wow you are already doing better than most. I know I wasn't doing this in the 6th grade. Respectfully.
An 11 year old using God's name in vain. How mature
Great info. I have taught my son that there are two things he needs to get through life with ease -- good friends and a good credit score.
Are you interested in buying an estate in Nigeria
Your 837 score is great. Mine is presently 826 and climbing. Thanks for the video.
Out of all the videos on TH-cam about this, yours is the more efficient, well explained and more clear. Thank you for sharing chinito 🙏🏻
This information helped me realize that I’m not as bad off as I thought and boosting my score won’t be difficult. Thank you!
10:00 best tip. happened to me also. i now pay the cards weekly.
Wow..Every School Kid should watch this. I asked my 20 year old Son to do so and then discuss it with me. Superb content that shines above the dross..Thank you very much.❤
Very well done video, trying to answer almost every question most people ask while keeping the video moving along. I have had the benefit of correcting my Credit score and I can say you are going to help a huge amount of people who finally want to start helping themselves.
This should be required viewing for all high school, technical school and college students.
Are you interested in buying estates in Nigeria
I like the graphics on this video. It makes it easier to comprehend than just watching you talk to the camera.
I think it's a good idea to place a freeze on your credit at all 3 so no one can misuse your ssn.
Great advice, honestly!
Yes, absolutely!
This page has saved me from myself and I mean every letter of this, THANK YOU
Well done brother 👊🏾
Much respect Prime consultant 001 this is amazing and super inspiring!.
Call the creditor to have them remove the late payment. They will IF you are in good standing with them!!
This should be taught at home at the dinner table and by the start of junior high school. Period. 💯
The US Government should watch this video lol
Yes, they're sub-prime for sure.
@@clearvaluetax9382 lol that they are
LOL
Politicians don’t care. It’s really not their money!
I have been a grateful subscriber for about 8 months and I'm not going away. Whether your topics are about finances or politics, I always find the presentation to be reasonable. It is never partisan. And your advice about credit scores is excellent. Thank you so much!
👏🏾👏🏾👏🏾👏🏾 excellent video!!! You helped me understand credit more with this video. Thank you
Great information except for one thing. If you are trying to save the interest charges or keep your utilization rate down, you need to make a payment to your credit card no less than 3 days in advance of the statement date. Most people do not know what the statement date is. It's sometimes hard to find on your statement, but this is the date where the interest is charged and the date the credit card company reports to the bureau's.
Oh wow I was just wondering about this. Thank you.
I always pay off my credit card as soon as the charge is listed to avoid any problems and my cc and checking account are linked.
@@daindigokid You're welcome if you have any more questions just posted here.
@jf-be4zy Okay, technical question. You say you pay it off when it's listed, guessing you mean on your statement. This means it's already passed the statement date.
Owning 10 or more credits cards and only using 2 or 3 sometimes with low balance or early payoff can increase your credit score greatly.
I have 26 and you ain’t wrong 😂
I just wanted to say thank you for sharing this. Because you're right. The worst thing that you can feel is hopelessness. And I hope that someone who is on the verge of losing hope finds *Pecuniary backdoors* and realizes that as long as you're still alive and breathing, there's a chance, there's HOPE that the future is brighter then the present day.
I really enjoyed this video. It was informative and I truly appreciated the teacher/instructor tone you have. That made it easy to take in the information. I hate fast talkers which come off as hustlers.
8:00 I use credit arbitrage and often have a balance on 0% apr cards while generating interest on the money during the intro APR period. I either pay it off completely or do a balance transfer at 3% to another 0% card to continue generating 4.3-5% interest.
You should do an arbitrage video
How are you liquidating
I’m kinda new to the channel, I don’t think I’ve ever seen you smile before. It’s a good look for you 😊
Having been all three, I like super prime seating the best. Personally, we are wickedly over extended (imho) and of course utilization is high as well, but they still keep offering us credit right and left, it's unbelievable. Thank you for tip #2, I just used a credit card because they were going to close the account (not one I want to close, high limit) so I charged something small just to keep the card active. Thanks Brian, have a great day!
My credit score is practically homeless and it annoys me when people bury the info I actually need.
Hello Brian and thank you for this crucial info. Thank you for caring. When my husband had a stroke in 2017, he could not work so alot of bills colapse. He has been back at work and we are slowly paying things off and not using credit so muxh. Now we just need extea income to buy a home soon. We are in our 50s and 60s too. Thank you for all you do. Jesus loves you!
This video should be shown to every single person graduating High School.
share to your friends and family, and maybe on social media. These videos need to be shared nation wide.
@mandowx1-They would be playing with their phones instead of watching it, and also their attention span is measured in seconds.
Valuable info Brian. Thank you so many of us were never taught anything about credit.
Are you interested in buying an estate in Nigeria
It would be nice if early payments give boost to credit like late does to drop your score.
Great video.. good job.. I knew most of this except for when the credit company reports the charge..
I have been following you for at least 4 years and I love all your videos, keep up the great job 🇺🇸
Thank you for the 4 years of support Shervin!
You opened my eyes on several aspects of the credit score constituents and the way to improve the credit score.
Huge thank you from me!
Per Brian's recommendation to make multiple payments on a credit card that you normally pay in full before the due date, there is another way that is also effective. Find out what your statement cycle is. Eg, the 5th of the month to the 4th of the following month with a due date of 3 weeks after that, say the 25th. Pay your card down or completely in full the day before the statement cycle posts; in this example, the 3rd of every month. This tricks the bureaus into thinking you never used the card. Oh...and make sure your cards pay you cash rewards and do not charge an annual fee. ❤
They'll know you used the cards but they'll also know you paid them off before interest accrued, it's a win win.
I never followed this rule. And I have 850 credit score.
I have a 790 score and it you do not have the money to back up the loans you are applying for you may not get approved. The lender will look at your debt to income ratio to see if you can qualify for the loan. Great credit, but you need to have money to back it up to make the payments.
What a wonderful video. I had my credit score drop over 40 points whenever I cancelled my AE Gold card that I had had for over 25 years. I cancelled it because I didn't want to pay the high annual fee that American Express charges to have their card. I have another card that doesn't charge any fees, plus it pays me cash back. My credit score is still excellent, but it still bothers me that my score dropped over points. Diane
Frustrating but ultimately in my opinion you made the right move, your score will recover with time.
Brian giving out Tinder tips 😂😂.
Great video btw. When i moved to the US my first credit score was 704 at 21 years old. It’s so simple yet people are so undisciplined.
@@I.Have.The.Juice. Just about every American regardless of age walks around with the most advanced technology known to the human race in their pocket; yet instead they choose to only use it for funny videos of cats dancing.
If a 20min TH-cam video is all it takes to be 'educated' then I have no sympathy for anybody claiming to be 'uneducated' on this topic.
Didn’t know 720 was the threshold for super-prime. Sitting at around 705 right now and getting ready to pay off my zero% APR cards soon
It's too bad that the federal government isn't subjected to the same scrutiny.
Brian, an excellent visual representation of how credit works! Thank You 👏🏾
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I have 850. Use 2 credit cards to the tune of ahout 5k/mo for any all expenses i can. Pay off before cycle end for the rewards points. Paid off auto loan, no student loans, just the mortgage. Every thing always on auto pay.
Me and my husband are part of the 850 club too. When i met him, almost 15 years ago, he was in the 500s. I helped him as I work in the industry.
You answered my questions and gave me peace of mind I’ve been stressing over getting my score to excellent but now I know I’m GOOD as good can be 😊
Awesome information Brian
I'm in the middle of this process now
My credit is good... not too far away from 700
Great video
Thanks for this. A lot of us have improving our credit as new year resolutions. We can get an early start 🎉
Why wait for new years!
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837 is a solid score. Mine has been over 800 for a while, currently 814.
832 here and im tryin to get that 850....when i get close, it drops
Recommending this to my 17 year old to watch. Comprehensive and easy to understand. Thank you!
Thanks for the video man. I watched 'til the end just because it resonated so much and really helped reinforce the ideas I vaguely had about it all.
It's a rough journey for the build it back team.
Worth more than 4 years of high school education. Awesome job!
My wife and I have been in the 830+ for the last ten years. Never have gotten to 850.
After you hit 9 years did you score go up
Brian, my credit score has modestly moved between 800 & 840 over the past 10 yrs; 73 yrs old now; my simple formula is no debt, pay credit card balance every month, enjoy life; I lease a condo; and don’t even bother to balance my checkbook (ok, well, I hardly write any checks). Thanks for your thorough reporting.
Nobody cares
802 is my max score, i can never go beyond that because of my good debt(positive equity) on 2 houses. I rem when the mortgage lender sold my mortgage account(one of the houses) and was briefly in paid off status which was report to my credit. It jumped to 837 then when it showed that I had the loan with new mortgage company it went back down to 802....lol
I pay CASH! No Credit Cards!!
Nice presentation. By the way late payments on utilities aren't reported so they don't affect your credit score.
They do report it. I can attest to it.
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Thank you, Brian. This was extremely helpful!
Loved this!! Thank you for your expertise!!!
Hey Brian - not sure if you'll see this or have any answers. I recently hit 800+ on my credit score; all I have is a mortgage and student loan. My student loan balance was a lump chunk of 15k and my credit report reflected such. My provider sold the loan to another servicer; who then broke up the 15k into 5 different accounts, smaller chunks of course, but my credit dropped back down to well under 800. Is there any recourse here or just have to let it play out?
I already knew all these tips, but I wish I knew that when I was younger.
Mine is 843. I pay all my bills every month and make sure my credit card is paid in full before the end of the billing cycle. Mortgage is our only debt and it, including property taxes, is about 30% of my after-tax household income.
Don't jeopardize the freindship is the key point I got off this. Told my friends years ago id rather not lend money and continue our friendship as is then to say yes and have it hinder the friendship to the point where we treat each other as enemies . You'll hate my No today but you'll get over it and we're good. If I say yes and you don't pay back then we hate each other for years. Thats really corny!.
Despite watching many similar videos, this one is the most clear and easy to understand. Thank you.
THANK YOU!!
😂 he said you treated like you’re coughing during the pandemic😂😂😂 his conservative, comedic ,
twist I just love it😂
Ugh, I did close credit cards once I paid them off, no one really tells these things in your
20’s
The information is very detailed, thoroughly & realistically. Thank you very much Brian.
Credit score is 572 and idgaf. I pay with cash.. no debt. No credit. Not rich just use cash.
thanks for the helpful advice.
Solid advice. Thanks for supporting the people.
Not really.
The best credit is no credit.
Cash is king.
@@righteousone1 if you’re one of the few people who can buy a house in cash, kudos to you. The rest of us plebs need credit.
“When it comes to dating life, Low credit score will lead to more rejections” absolutely BRUTAL
Wonderful topic! Thank you!!!
How can I help my child to build her credit score? And when can I start doing it?
A credit building loan. Depending on your state, look into the Capital Good Credit Builder Loan. It's affordable. You can also add them as an authorized user on your credit cards as long as you have a good payment history.
You have to teach responsible money management. That is what produces a good credit score.
You can start when they are born. Open a credit card in their name/SSN. This is completely legal, but you will hear about kids who find out as adults that their parents abused credit in their name. What you can do, is make a monthly charge to the card and pay on time. If you do this their whole life they will have 18 years of good credit built up.
Great question ! Hopefully, he does a video on it. I learned the hard way just how important EARLY payments can be. eg due on 10th, i auto pay on the 5th.
You can add your child as an authorized user to your credit card account. Some creditors have an age limit so verify with the issuer. I added my child at 16. By the time she turned 18 she had great credit and was able to obtain two of her own cards without any trouble. You don’t have to give the card to your child, just adding them will improve their history and credit age as long as you pay your bill.
Thank you so much for this wonderful video. I think it’s the best one you’ve done. I learned so much from this video. Thank you for explaining everything and making it simple to understand. Keep up the good work!!!!👍🏼
I paid all my accounts off before leaving the US to live in Ecuador in 2016. My credit score is now 611 while I owe no one in the world even one penny. Makes sense.
Thank you so for this informative video. I love your content! This is an important topic but often times, you have to pay someone to teach you what you just put in this free video. I can't say thanks enough. God bless you and your family!
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