How to Use Credit Cards Wisely | The 6 Golden Rules
Вставка
- Опубліковано 29 чер 2024
- 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 my first video of yours I am seeing, but you seem like a really cool dude, love the video / chill style of yours!
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!
Thank you for this valuable info on credit cards. It is very helpful.
Thank you 🙏 very much for this informative video!
Great video thank you for your advice
Great advice and I loved your marriage story!
Great info 👍
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!
This is the BEST intro to credit cards video i have found so far. Will be sharing with friends and family.
Fake comments
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!
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.
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.
About to get my first credit card at 27.
Can you post a video with your opinion on BNPL like Affirm?
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.
If you don't ask the answer will always be 'No'
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
Credit utilization is irrelevant if you pay your balance before statement closing. It’s always 0.
Engagement
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
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 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…
For sure there is no in between when it comes to credit cards 😢😂
my credit card saved my father's life T_T
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.
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
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?
Lazy = stay broke Ugh🥸
So many bots in these comments... the glaze is crazy. Definitely not a good look lol
The story about your wife is beautiful. You don’t see that nowadays