I don't know if I missed it, but I think it's worth mentioning that if you rack up a balance and your utilization is high, your credit will go back to what it was before once you pay off the balance.
Great video John. There are so many myths surrounding credit cards and so many people just in the dark, it's refreshing to see another video reaching out to those individuals!
you should try to have some utilization at least in the single digits percentage wise so that the card has something to report to the credit bureaus. Even if it’s just like $10.
I soooo wish these things were taught in school…I’m learning about credit the hard way 😮💨 but at least I can teach my kiddos better and learn from my mistakes 🙌🏽
Could someone provide an answer for my questions. I just ordered an Amazon credit card back in December 1. I want to open maybe one or two more cards right now. Is it okay to open it because I already have a hard inquiry on it? Planning on opening the Capitol one venture X and Amex gold. I'm not sure if the credit card inquiry lasts 14. I want to apply for all of them before I get hit with another hard check. Any advice or link to previous video is appreciated 👍
YOLO and get as many cards as you can now that don’t have yearly fees. That way your average age of cards is amazing over your lifetime. Put them in rotation so you don’t get them automatically closed. You will get balance increases over time as the banks see you paying them off. Be smart and don’t keep balances for more than a few months. All that available credit is a decent emergency backup. I wish I learned how to use credit correctly when I was in college. Life is tough without it.
This has me confused? How can you make a payment on the statement closing date when you have an earlier payment due date? For example, say my closing date is Dec 29 but my payment due date is Dec 15. It’s a late charge to go past the payment due date so why would I do this? Please explain or is this just a 2nd payment?
Your payment due date is for the statement cycle of the PREVIOUS statement cycle. For example my latest credit card statement from one of my credit card shows that my cycle is from October 26, 2023 - November 24, 2023. My DUE date for the charges on that statement are due on December 19, 2023. I am currently on Decembers statement cycle which has not ended yet. That is from November 25, 2023 - December 25, 2023 and that payment will be due on January 19, 2024. If you do not pay your credit cards in full by the due date, then you will carryover a balance and be charged interest starting on the due date. I hope this helps you understand. It took me a loong time for me to understand this concept but once you do its fairly intuitive.
How is freezing your credit free? I must be missing something, because when I log into Experian it requires a paid monthly subscription plan to access freezing accounts. What am I missing?
You can access all three bureaus for free to do limited things like check your reports or freeze and thaw your credit. All three also have paid tiers that allow you to do more
@@rmknicks inaccurate, as I explained before, I have an Experian free account. Searching through every page of the account, there is no free option to freeze your credit. You must pay a monthly subscription to access that feature. No one has been able to show me where freezing your credit is free on any of the three bureaus.
@@rmknicks when I sign into the Experian app and click on my score there is no such freeze/thaw icon on any details page. If I click on the "Credit" tab I see a "manage" button for Experian Credit lock. When I click manage there is an upgrade button for $24.99 a month. I called Experian last month, and the agent told me that I would have to pay the monthly subscription to freeze my credit with Experian. I don't know where you're finding this free freeze/thaw option.
@@rmknicks also at the bottom of the dashboard page there is an option to "lock your credit". When I click on that button I am taken to a page to pay $24.99 a month to access premium features. No free freeze option anywhere.
I have an Extra™️Card that shows an extra (npi) $3000 in available credit bringing my available credit to $8000 on my bank’s website. Does this lower my utilization down? I was only going off my real CC the bank issued me, so I only spend about $1k at a time on a $5k limit. Is this a legit hack for Holliday spending? Please LMK😮
I have been told many times that you should let it go a month month and a half before you make a payment and it would be better for your credit?. Even knowing how is explained in the video that's exactly how I viewed it I'm pretty sure even a bank told me the opposite.
Amazing content, You remain the best!! It's been a year since I found ways to improve my finances and by working with a renowned professional, I was able to attain financial freedom. I have to say; "As long as you are determined and work hard, you can achieve whatever you place your mind on."
In my financial journey, MARC DARIUS MESSER has played a crucial role, offering invaluable knowledge, practical advice, and motivational content. The empowers community he fosters has not only boosted my confidence and work engagement but also inspired me to pursue excellence. Considered a secret weapon for significant financial growth, his online presence is essential for anyone seeking to enhance their financial situation
Great information!! It's truly great to see the name Marc Darius Messer mentioned here. I have immensely earned working with him and I'm truly happy with my decision to work with him because he has proven to be the most reliable Financial consultant to work with
Having worked with Marc Darius Messer for 3 years, I have come to realize that a dream doesn't become reality through magic; it takes sweat, determination, hard work and that all our dreams can come true if we have the courage to pursue them.
Love your credit videos. They're the only reason I'm able to properly build credit. But what do you recommend for getting an installment based credit account? I can't manage a mortgage currently, and it's not practical to get a car, and thus an auto loan, where I live. Is there something you recommend on a general level or alternatively, would it be fine to just get more credit cards as one is able?
I don’t agree about closing accounts. If you are the type of person who misses card payments and carries balances and pays interest , feel free to close accounts because you aren’t a credit card person and the downside of keeping the accounts open will burn you
Not really related but. I'm looking to get a ranch. It will be a safe place for single parents in bad situations ( abuse and worse) as a therapy and sanctuary space. I have the busness plan, ways to make money but to do so I need the the ranch first. I am a first time buyer, I have good credit but I did lose my job do to some brain damage. Dealing with red tape now but I really feel like it's still my calling to start helping others. I would eventually like to open them all over the US and other contacts as well as some sober livings and others. Any advice?
![How to Get a PERFECT Credit Score for FREE [2023 Guide]](http://i.ytimg.com/vi/OCtSGx-hz98/mqdefault.jpg)
I don't know if I missed it, but I think it's worth mentioning that if you rack up a balance and your utilization is high, your credit will go back to what it was before once you pay off the balance.
It will go back, but only on your statement day. I just had this happen to me
Just hit 800🎉. I wish I knew all of this years ago but I'm on the right track now.
Great video John. There are so many myths surrounding credit cards and so many people just in the dark, it's refreshing to see another video reaching out to those individuals!
Besides for obvious bait clicks what was the reason to put up the Amax gold/ platinum on the thumb nail picture??
What if I pay in full before statement closing date?
Good for you kid
That’s fine too
you should try to have some utilization at least in the single digits percentage wise so that the card has something to report to the credit bureaus. Even if it’s just like $10.
I soooo wish these things were taught in school…I’m learning about credit the hard way 😮💨 but at least I can teach my kiddos better and learn from my mistakes 🙌🏽
Same, let’s set them up for success!
@@Betomustknow 👏🏽🥂
Put your kids as authorized users on one of your cards. It will build their credit so they can get cheap loans.
@@markm0000 super good idea!! I’ll have to look into that, thank you 🤗
By design. Americans are literally born to be in debt. No accident
Why is life insurance a bad investment?
I like this one, simple, but important
Thanks for making a great video on this topic!
How do you set up auto payments for the statement closing date? Do some banks only allow auto payments on the due date?
For closing a credit card, I was an authorized user on my parents card but now I have my own. Should I closed my authorized account under them?
Hey continental tire is offering a card that gives you a good rebate amount. Would that be an okay card to open?
Could someone provide an answer for my questions. I just ordered an Amazon credit card back in December 1. I want to open maybe one or two more cards right now. Is it okay to open it because I already have a hard inquiry on it? Planning on opening the Capitol one venture X and Amex gold. I'm not sure if the credit card inquiry lasts 14. I want to apply for all of them before I get hit with another hard check. Any advice or link to previous video is appreciated 👍
YOLO and get as many cards as you can now that don’t have yearly fees. That way your average age of cards is amazing over your lifetime. Put them in rotation so you don’t get them automatically closed. You will get balance increases over time as the banks see you paying them off. Be smart and don’t keep balances for more than a few months. All that available credit is a decent emergency backup. I wish I learned how to use credit correctly when I was in college. Life is tough without it.
Do one inquiry per 6 months and you will be generally fine. It helps out to space out the spend for intro offers anyway
i will apply for my fist credit card in January, what's the best credit card for beginners
Thanks John! 💪😎👍
hey ! love your channel...Can you do a review on cheapoair credit card ?
Fantastic advise.
This has me confused? How can you make a payment on the statement closing date when you have an earlier payment due date? For example, say my closing date is Dec 29 but my payment due date is Dec 15. It’s a late charge to go past the payment due date so why would I do this? Please explain or is this just a 2nd payment?
Your payment due date is for the statement cycle of the PREVIOUS statement cycle. For example my latest credit card statement from one of my credit card shows that my cycle is from October 26, 2023 - November 24, 2023. My DUE date for the charges on that statement are due on December 19, 2023. I am currently on Decembers statement cycle which has not ended yet. That is from November 25, 2023 - December 25, 2023 and that payment will be due on January 19, 2024. If you do not pay your credit cards in full by the due date, then you will carryover a balance and be charged interest starting on the due date.
I hope this helps you understand. It took me a loong time for me to understand this concept but once you do its fairly intuitive.
How is freezing your credit free? I must be missing something, because when I log into Experian it requires a paid monthly subscription plan to access freezing accounts. What am I missing?
You can access all three bureaus for free to do limited things like check your reports or freeze and thaw your credit. All three also have paid tiers that allow you to do more
@@rmknicks inaccurate, as I explained before, I have an Experian free account. Searching through every page of the account, there is no free option to freeze your credit. You must pay a monthly subscription to access that feature. No one has been able to show me where freezing your credit is free on any of the three bureaus.
@@kossaga I sign in, I click my credit score which takes me to the details page, and I click the freeze/thaw icon. All for free, so accurate.
@@rmknicks when I sign into the Experian app and click on my score there is no such freeze/thaw icon on any details page. If I click on the "Credit" tab I see a "manage" button for Experian Credit lock. When I click manage there is an upgrade button for $24.99 a month. I called Experian last month, and the agent told me that I would have to pay the monthly subscription to freeze my credit with Experian. I don't know where you're finding this free freeze/thaw option.
@@rmknicks also at the bottom of the dashboard page there is an option to "lock your credit". When I click on that button I am taken to a page to pay $24.99 a month to access premium features. No free freeze option anywhere.
I have an Extra™️Card that shows an extra (npi) $3000 in available credit bringing my available credit to $8000 on my bank’s website. Does this lower my utilization down? I was only going off my real CC the bank issued me, so I only spend about $1k at a time on a $5k limit. Is this a legit hack for Holliday spending? Please LMK😮
Would love to hear your opinion on the Costco citi card, I don’t see much reviewers talking about it
I have been told many times that you should let it go a month month and a half before you make a payment and it would be better for your credit?. Even knowing how is explained in the video that's exactly how I viewed it I'm pretty sure even a bank told me the opposite.
solid video
Amazing content, You remain the best!! It's been a year since I found ways to improve my finances and by working with a renowned professional, I was able to attain financial freedom. I have to say; "As long as you are determined and work hard, you can achieve whatever you place your mind on."
In my financial journey, MARC DARIUS MESSER has played a crucial role, offering invaluable knowledge, practical advice, and motivational content. The empowers community he fosters has not only boosted my confidence and work engagement but also inspired me to pursue excellence. Considered a secret weapon for significant financial growth, his online presence is essential for anyone seeking to enhance their financial situation
Great information!! It's truly great to see the name Marc Darius Messer mentioned here. I have immensely earned working with him and I'm truly happy with my decision to work with him because he has proven to be the most reliable Financial consultant to work with
Having worked with Marc Darius Messer for 3 years, I have come to realize that a dream doesn't become reality through magic; it takes sweat, determination, hard work and that all our dreams can come true if we have the courage to pursue them.
Love your credit videos. They're the only reason I'm able to properly build credit. But what do you recommend for getting an installment based credit account? I can't manage a mortgage currently, and it's not practical to get a car, and thus an auto loan, where I live. Is there something you recommend on a general level or alternatively, would it be fine to just get more credit cards as one is able?
NFCU secured loan.
I don’t agree about closing accounts. If you are the type of person who misses card payments and carries balances and pays interest , feel free to close accounts because you aren’t a credit card person and the downside of keeping the accounts open will burn you
I am 18 in high school and I’m not sure if I should apply for a credit card now or waiting till later
I am a 18 year old high school student do I qualify for a student credit card? Thank you soo much ❤️
Not really related but.
I'm looking to get a ranch. It will be a safe place for single parents in bad situations ( abuse and worse) as a therapy and sanctuary space. I have the busness plan, ways to make money but to do so I need the the ranch first. I am a first time buyer, I have good credit but I did lose my job do to some brain damage. Dealing with red tape now but I really feel like it's still my calling to start helping others. I would eventually like to open them all over the US and other contacts as well as some sober livings and others. Any advice?
Noted
John liang, why you liang? Jk im so close to be able to apply for blue cash preferred to my arsenal of cards 💪🏻
Again, stop with the peace and arm flaps. Doesn't suit you.
there is nothing wrong with it. you just want to complain.
@@chickensauce85 cringe is an understatement in this case