How to Use Credit Cards Wisely | The 6 Golden Rules
ฝัง
- เผยแพร่เมื่อ 7 ก.พ. 2025
- Are you using your credit cards the right way? Credit cards can be a powerful financial tool when used wisely. In this video, I share the six golden rules for using credit cards so they work for you, not against you.
Timecodes:
0:00 - Intro
0:16 - 01 | Pay Off Your Credit Card In Full. Every Month
1:48 - 02 | Request Fee Waiver
3:25 - 03 | Don’t Cancel
4:10 - 04 | Keep It Simple
5:27 - 05 | Request Credit Limit Increase
6:37 - 06 | Maximize Your Credit Card Benefits
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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.
This is the BEST intro to credit cards video i have found so far. Will be sharing with friends and family.
Fake comments
Thanks bro. Im about to start my credit journey, hopefully with these tips i dont have any trouble.
Me too
update?
@@mula2011 need some tips on when and how to pay the bill every month so i dont stress.
Same
@@mula2011 Mine's a lifetime free cc, its pretty straightforward. I just keep the credit utilization to under 25% before the bill generation date and pay it back in a week or so. The only drawback is there aren't much offers/discounts available, but its okay for a starter cc.
Absolutely Tae! Great rules.
Being responsible with your credit cards and having a great credit score is one of the key factors in achieving financial success. Cheers!
Your honest advice on credit cards has been helpful. It's too confusing listening to all the other advice not to pay in full each month and to keep a balance because of yada, yada, yada. I think it's in favor of the banks' interests, literally and figuratively. Like a game of bait and switch, or moving cups around and trying to remember which cup the penny is under🤔. And all those lost penny's add up because then, like Vegas, the house always wins.
I’m an Aussie. I have one CC with a $6K limit. I use it for absolutely everything. Bills, groceries, take out, everything! And then I pay it off every week on a Sunday night. I done that to get a good credit score (930 at the time of writing this) and also get points. I cash them in December every year. I get a supermarket gift card worth about $1000. And I have not paid a single cent in interest in over 15 years. And I also have the insurance with fraud and theft, which I have had to use a couple of times. It came in handy.
So CC’s are great if you are smart with them. 👌
This is my first video of yours I am seeing, but you seem like a really cool dude, love the video / chill style of yours!
Thank you 🙏 this makes me feel better about how I’ve been ultizing my credit cards but ima jump on the benefits
Hi Tae! Can you put together a video about smart travelling? I love to travel with my fam (me, husband, 2 kids under age of 7). Any way to save money will be great for every fam!
Wow! Really great advice and style of video! Thanks! Had no idea about those added benefits! Gotta go look that stuff up!
Glad it was helpful!
Can I hold my bill money in my checking account and use my credit card. Then use the intended money in checking account to pay the credit card bill immediately after paying/ using with credit card?
So it is easy to stay safe using credit card ? Right? as long as you pay your bill on time?
Yes, it will drastically improve your credit score if you keep all your payments on time
a way to learn and mistakes to hopefully learn from and to build financial discipline
Great advice and I loved your marriage story!
Pay your credit card bills on time (by the due date)
Keep your utilization low (1-3%) before the statment closing date. When you received your new statement pay the remaining balance in full.
This way the credit card company sees that you are using your credit wisely with the 1-3% utilization and paying in full helps you avoid paying interest.
Thank you for this valuable info on credit cards. It is very helpful.
Great info 👍
I been using my credit card for every transaction I make but does it matter how many times I transfer? Every time I use my credit card I transfer immediately but someone told me I shouldn’t transfer more than three times in a month? 🤔
I make sure it’s pay before the due date and not spend after that until
Closing date.
Hope my question make sense
I think what’s important is not maxing them out
@@wandilemabuza9441The credit bureaus receive a single snapshot of what your balance is at the end of your statement cycle. That balance is your credit utilization. That's it. As long as that statement end balance is paid down to between 5% and 8% of your total credit limit by the time the statement closes, you can use the entire limit all you want and rake in those points.
Just make sure auto pay is on so it pays off that 5%-8% balance on your billing due date.
I'll be honest i got into a little bit of deep water with my cards. Hopefully i can put these great tips to use. Thanks for the video, sir.
Thank you 🙏 very much for this informative video!
Try interest at 29%
Or 32
Great vid
I have 3 credit cards if i use only 5% utilization on them does that mean i use 15% altogether?
no it’s just for each card
It means your total utilization is still 5%
I gotta cancel one. You gave me the courage. I broke up 💔 with them
I have a question about credit utilization ratio. So if I have a $1000 utilization ratio, but spend $750 but pay it back within a week or so (before statement comes out) does it still count as 75% utilization or would it be at 0 (or hwoever is left that I don’t pay off. Let’s say I pay off $700 before the statement comes so my balance is $50. Would it be a 5% utilization ratio then? Or it is still 75%?
It is checked on the date of minimum payment due after any additional payment is made. The remaining balance is what counts for credit utilization.
The credit bureaus receive a single snapshot of what your balance is at the end of your statement cycle. That balance is your credit utilization. That's it. As long as that statement end balance is paid down to between 5% and 8% of your total credit limit by the time the statement closes, you can use the entire limit all you want and rake in those points.
Just make sure auto pay is on so it pays off that 5%-8% balance on your billing due date!
Hello I’m just getting my first credit card. When it is said to make sure your credit card is paid in “full” each month, does that mean to make sure your monthly bill is paid in full or does it mean to completely owe nothing on the credit card at that point?
Both. Paying your balance in full each both , mean you will not own anything each month, 0 balance owed
@@krystalbbeautiful8569 okay say if I owed $500 on my card but the bill was only $100. If I pay that full bills leaving me with only 400 owed, would that cause interest rates to rise also? Keeping in mind that I pay all bills on time.
Credit utilization is irrelevant if you pay your balance before statement closing. It’s always 0.
Tae you should make a video of how to fly and get hotel rooms for free by using credit card points. Thanks for sharing! ❤
Great video thank you for your advice
Hi how do i manage my credit card efficiently. I've realized my credit scre drops when i dont use the card often. My credit card is worth £200. Do i have to use everything or just 50% monthly
Can you post a video with your opinion on BNPL like Affirm?
Great info thank you
I’m confused so can I pay off multiple times right after I purchase something on my credit card, and each time I use my credit card make sure it’s under 30% or do I have to stay under that percent for the whole month
Try not to use more than 40% of your limit every month!
If you don't ask the answer will always be 'No'
my credit card saved my father's life T_T
Hospital bills? 💀
I have a question. I have gotten myself into way to much debt, between job loses ,separation and unexpected expenses I'm about 37000 in debt on cards. Now I have one card 24000 that has a 45 000 limit. Would it make sense to move all the other credit debit to that one card. All the intest rates are roughly the same around 13 percent. I have 3 other cards so 4 all togther. I don't qualify for a loan at this time. Or will doing this just make my situation worse
Honestly, no point in transferring the debt, you’re better off paying minimum on all of them except one (the highest interest one, put as much of that per month as you can until you pay that one off). And then move onto the next and so forth. It’ll feel less overwhelming and rewarding when you cut each one up after paying them off…
Brother go urhently watch Financial Audit
If you own bank account have money to purchase things u want then why do people use credit cards? End of the day u still have to pay back in full to avoid interest rates spike, right
Because of the credit card rewards he mentions
Maybe you don't want to touch your saving and need to spend a little money right now, you can use credit and pay back when you get paid, and to increase credit score which can help you get better deals for cars loan or house etc
Certain landlords check credit score. Certain employers check credit score. And banks use credit score to decide how much interest you pay on money they lend you, better the score, usually lower the interest rate you pay each month.
Because you don't build a credit history with a debit atm card. You start to build credit score with a credit card. Your credit score and history will be used when you are applying for bigger more important credit solutions such as an auto/ car loan, a personal term loan, and ultimately a mortgage for your home purchase.
Better fraud protections, credit card rewards even if not a lot is something vs nothing with debit, if you pay off on time and in full set on auto pay you have nothing to worry about , lets you money you earn stay in your bank account just a little longer earns small amount of interest you wouldn’t get had you used your debit card
If you get you card hacked it’s not your money at risk it’s the bank and all you do is report it and banks tend to be faster when it’s there money at risk vs your own money that you need being taken
Is 17 percent untilization a good spot
25% utilization would be considered good. 17% would be considered very good. And anything under 10% is excellent utilization. Say you hade 2 credit cards and you want 7% utilization reported. One credit card have 2% utilization other card 5% utilization. Hope this helps!
@@wiseman4160 thank you very much
@wiseman4160 this is wrong. Each card and bank is its own utilization and unless its from the same bank, those percentage will be only by their banks, which is still pretty good. 7% if by the same bank. 5/2 if different banks are used.
For sure there is no in between when it comes to credit cards 😢😂
Costco Anywhere Visa has no annual fees 🎉
lol I just cut my cards. There not for my impulse spending
So many bots in these comments... the glaze is crazy. Definitely not a good look lol
Cope harder low score boy
@@Scofield229dang wtf, this ai has the roasts of a 9 year old.
Engagement
Ugh. Credit cards introduce complexity and risk. I have one credit card, and will never own more. I have enough accounts to manage.
All you need to do is take money out every week and set up a standing order from your main bank account to pay off the debt immediately. Basically zero risk.
On one card you have plenty of accounts? 🤔 Is that possible?
You are only hurting yourself by doing this.
Not good at all just be responsible
Don’t even play the credit game stick to debit cards
The story about your wife is beautiful. You don’t see that nowadays