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I'm paid every two weeks so I've found that instead of trying to keep track of various due dates I just check all my cards every two weeks and pay off anything outstanding.
Your actually could be hurting your FICO score, doing this. Keep in mind that the algorithms want to see usage on your cards. Are your cards being reported with zero owing? This is bad, you want at least a few bucks owed! The best way is to keep a small balance right before your statement is generated. So it’s generated with a small amount say $20.00. Then pay it off prior to its due date. Or doing it your way, pay off 98% of the balance each payday. That way your leaving a few bucks on them ( to report to the bureau). While paying so much you should (if your constantly using them), make the payment of 100% each month. Otherwise, get a free on line bank account. Transfer the needed amount to it. Schedule your payments to pay from that account. But do it like I recommend to you here!
@@JoeUrbanYYC ok that’s good. But try paying them off to NEAR ZERO, a few days prior to your statement generation date. The lower (percentage wise) that’s reported, the higher your score will be!
One of my cards gave me double the welcome points and two of my other cards gave me the welcome bonus even though I had the cards the year before, I wasn't expecting the points but I'm happy to have them since I have other products at that bank, I plan stay with the cards anyway. 😊
I have followed all the credit card rules but still bad at earning points! How does everyone avoid paying the aeroplan reserve annual fees? I don’t have the guts to even apply that heavy fee card.
Love the video! Do you know any Canadian credit cards that earn rewards/cashback on concert tickets? I spend a lot of money on ticketmaster buying concert tickets. The US has some crazy ones but I couldn't find one for Canada. Let me know!
what if I don't get any use out of the card, but it is a no annual fee. Should I keep the credit still on file ? Not trying to have an absurd amount of credit lines, especially for some credit on some cards I won't ever ever use.
Keep them open and use them once a month at the self service checkout for a small item. Pay it off AFTER you get your statement. If you really don’t want them. Do as I suggest. Then close one of them each 8-9 months. Starting with your lowest credit limit card!
Another great video Ricky...looking to move on from my Amex Aeroplan Reserve as work travel as still not happening and isn't going to start anytime soon...was going to move down to the Cobalt...will I be eligible for a welcome bonus or does Amex not allow that? Thanks
That's for the information. Any summary or updatebof the Septb25th even. I know when you had a life chat on yourube with the aircanada workers in charge of aeroplan etc. One person talked about covid testing problem, pricing and inconsistencies. And they will be bringoling out something in next few weeks. And update?
I upgraded my rbc signature cc to the west jet rbc ellite and they didn't give me the sign up bonus for it when i had the rbc signature card for more than 8 years ... do you think if I call them they will give me the sign up bonus ?
I really get tired of hearing that you MUST pay off your credit card balance every month. Is it ideal, of course it is, but not everyone can afford to do that. There is nothing wrong with carrying a revolving balance if you manage it responsibly (ie., paying more than the minimum, paying on time and not getting in over your head). Debt doesn't need to be a scary thing.
I would reccomend having a line of credit as a backup. If you aren't able to pay off your credit card in full with cash paying it off from a line of credit is a good option. Interest will be less leaving you with more money to pay off your debts.
Interested in learning all about how to travel the world on points? Join us at The Travel Summit Toronto 2022: The #1 event for elevating your travel! thetravelsummit.com
I'm paid every two weeks so I've found that instead of trying to keep track of various due dates I just check all my cards every two weeks and pay off anything outstanding.
Just set up automatic payments. Never a need to worry when it's all paid automatically
Your actually could be hurting your FICO score, doing this. Keep in mind that the algorithms want to see usage on your cards. Are your cards being reported with zero owing? This is bad, you want at least a few bucks owed!
The best way is to keep a small balance right before your statement is generated. So it’s generated with a small amount say $20.00. Then pay it off prior to its due date.
Or doing it your way, pay off 98% of the balance each payday. That way your leaving a few bucks on them ( to report to the bureau). While paying so much you should (if your constantly using them), make the payment of 100% each month.
Otherwise, get a free on line bank account. Transfer the needed amount to it. Schedule your payments to pay from that account. But do it like I recommend to you here!
@@michaelreid8857 I use the cards constantly so there's always at least something owing at the end of each statement.
@@JoeUrbanYYC ok that’s good. But try paying them off to NEAR ZERO, a few days prior to your statement generation date. The lower (percentage wise) that’s reported, the higher your score will be!
I pay 10 days ahead of all accounts
these thumbnails just keep getting better!!😂😂😂
I remember Capital One would not let me just switch to another card, they asked me to cancel the one I have and apply for the one I want instead.
Had the same experience with capital one a few days ago
One of my cards gave me double the welcome points and two of my other cards gave me the welcome bonus even though I had the cards the year before, I wasn't expecting the points but I'm happy to have them since I have other products at that bank, I plan stay with the cards anyway. 😊
Got approved on the edge so you got your referral and I got my extra 10k MR points THANKS !
Cheers
Love the nod to Bob Ross at 12:48
Prince Of travel is the reason i know what to do with my credit card! thank you for the very informative videos!
LOL nice thumbnail bro!
😂😂
I have followed all the credit card rules but still bad at earning points! How does everyone avoid paying the aeroplan reserve annual fees? I don’t have the guts to even apply that heavy fee card.
Love the video! Do you know any Canadian credit cards that earn rewards/cashback on concert tickets? I spend a lot of money on ticketmaster buying concert tickets. The US has some crazy ones but I couldn't find one for Canada. Let me know!
God tier thumbnail
what if I don't get any use out of the card, but it is a no annual fee. Should I keep the credit still on file ? Not trying to have an absurd amount of credit lines, especially for some credit on some cards I won't ever ever use.
Keep them open and use them once a month at the self service checkout for a small item. Pay it off AFTER you get your statement.
If you really don’t want them. Do as I suggest. Then close one of them each 8-9 months. Starting with your lowest credit limit card!
Another great video Ricky...looking to move on from my Amex Aeroplan Reserve as work travel as still not happening and isn't going to start anytime soon...was going to move down to the Cobalt...will I be eligible for a welcome bonus or does Amex not allow that? Thanks
Just got my interest forgiven for forgetting to pay for 1 day. Thanks for suggesting to ask!
That's for the information. Any summary or updatebof the Septb25th even. I know when you had a life chat on yourube with the aircanada workers in charge of aeroplan etc. One person talked about covid testing problem, pricing and inconsistencies. And they will be bringoling out something in next few weeks. And update?
Nice video
Thanks a lot!
Waddup Prince. Any epic hotel stays in the works ?
VERY exciting one coming up in November ✌🏼
Has anyone gotten the Amex Cobalt bonus twice?
I upgraded my rbc signature cc to the west jet rbc ellite and they didn't give me the sign up bonus for it when i had the rbc signature card for more than 8 years ... do you think if I call them they will give me the sign up bonus ?
This thumbnail LOL
What is the thumbnail pics based off of? Another music video?
Sugar honeycombs
I know longer fly solo, thanks to Prince of travel 😀
Very nice ✿✿✿ 💎💪🏽😉
Cheers
Good video but calling these "deadly" is an eye roller. 🙄
The guy at the 8 minute mark is hilarious 🤣🤣🤣
so squid game?
Wtf is that hair😂🤣🤣
I really get tired of hearing that you MUST pay off your credit card balance every month. Is it ideal, of course it is, but not everyone can afford to do that. There is nothing wrong with carrying a revolving balance if you manage it responsibly (ie., paying more than the minimum, paying on time and not getting in over your head). Debt doesn't need to be a scary thing.
I would reccomend having a line of credit as a backup. If you aren't able to pay off your credit card in full with cash paying it off from a line of credit is a good option. Interest will be less leaving you with more money to pay off your debts.
Can you be my friend in relation to Mistake #7? @PrinceOfTravel