Amen, this should definitely be illegal to have your score drop when you pay things off. Why wouldn’t it? It shows responsibility in managing debt. If anything shouldn’t be used to boost a score it’s using utility payments.
I recently paid off a car loan. I forget the exact wording Credit Karma used, but they basically said it was a bad thing that I didn’t owe banks money and I should sign up for some credit cards. The banks really figured out a good hustle to run!
@@kelleyspears1218Banks don’t want you to “responsibly” manage debt. They want you to bury yourself in it. I always thought it would be a great idea to implement a debt management course to all high school kids before graduating. It would be funny to see how fast that movement would be shut down. The government doesn’t run this country. The banks do!
Just commenting to say: You've got this! (I saw your last video and am weighing in with a thank you note:) I have watched your videos for the longest time and YOU are single handedly to THANK for us (me & my husband) benefitting several hundred dollars in using credit cards smartly. THANKS TO SPECIFICALLY YOU I woke up to the financial benefits of applying for a new credit card when there is a special offer. Once or twice a year I really pay attention and we gain $200-$500 in bonus payments THANKS to YOU!
Zero debt. Zero credit score. Zero problems. Credit scores exist for one reason, and one reason only; so lending institutions know exactly how much money they can extract from you, at a certain level of risk. They are of no benefit to borrowers, because borrowing money is almost never to your advantage.
I meant to comment on your video from yesterday, but I didn't have time. I thought I'd comment on this one since maybe you'd be more likely to read the most recent comments if you're reading any at all. I just wanted to say that I really empathized with yesterday's video. I'm so sorry that you've been dealing with a chronic health condition and questioning your major life decisions. I know how difficult such things can be, and I'm glad to hear that you seem to be on the road to recovery and that you have a loving, supportive girlfriend. I wish you the best, and I will watch every one of your videos and try to remember to give it a like. For example, I have excellent credit and would normally have skipped this video, but I want to show my support!
I have watched your videos for years and I love to find reasons to support you. Me and my husband consider you a friend on the web. Your content ensures your success because you look out for the best interests of others. “You can have everything in life you want, if you will just help other people get what they want.”-Zig Ziglar! Keep at it! The hate comments are just evidence that you are awesome! Being awesome Is intimidating to a world of mediocrity. It exposes darkness. You just keep shining your 💡. Your are not alone.
I do everything on my credit card. I love the points and it helps the score too. As long as you pay in full it's like tricking the system. I think the credit card company hopes you get to a point where you can't pay the full balance every month.
Keep doing what you do. Thanks for all the videos over the years. I don't remember when I first saw your videos but I remember being immediately hooked. I loved all the ideas for frugal living and personal finance I've collected from watching your videos over the years.
You really are awesome and unique. Do not doubt yourself. You are wise and have made the right choices. Things constantly change and as long as you move forward with confidence there is no bad choice. I hope these words and the words of others are enough to encourage you to be happy. 💕
I know what you're saying is true because every month I get penalized for not having any loans out. My credit started at 811 many years ago and has slowly gone down to 796 and nothing I do has changed one bit. I owe nothing and pay my two credit cards off in full every month. I own my house and car, so no payments there. I would think with zero outstanding debt I should have close to a perfect credit score. I had plenty of loans when I was younger but now I'm retired and don't have a need anymore for loans. A pretty crazy system where they encourage one to go into debt.
huh, in the hood they sell credit score by adding people to their cards and then freezing their credit reports right before they apply for an appartment or something
Could you make a video about buying a house or apartment as a first home buyer please? Government benefits, taxes, buy mortgage or ignore mortgage what are the benefits?
First started watching you like 8 years ago. Don't think I've ever commented but glad to see you are uploading stuff again 🙏 keep going man you were life changing for me ngl
Your score is already excellent, just keep doing what you are doing and lower your utilization. My score fluctuates between 750-820 depending on the weather.
@@kungfoochicken08 bro he literally cant afford to pay the bills he has now, where is he going to get the extra $600 from? he's going to start putting less money into his actual debts to try to do this. also it's still debt on his credit profile which is probably in shambles right now
@@piskooooo You’re only paying an additional $10 a month in fees to the company. The rest of the money you pay in you get back right away as they release your collateral.
I've found using it as close as possible to the limit works. Just buy things u can sell in your market easily/quickly when they go on sale. For example video game consoles, couches, air fryers, power tools. Find stores that ideally give you more than 30 days to refund in case u haven't made that quick sale.
This is completely unnecessary. Just live life within your means. Use credit wisely. Pay your bills on time. Your credit score will reflect this behaviour without having to pay finance charges for digging a hole and then filling it in.
_That_ is completely false and misleading. Self is part of a strategy, and it *works.* Used it myself! 2018 was 550/zero credit. Learned about credit, obtained self account and went to like 600ish. Obtained a cap1 secured card with $49 deposit. Gardened those, and eventually obtained more accounts, such as chase & amex. Now have 12 accounts and 760. I actually still have the self account, lol! you can take a payout (only good as cash) or put it into a card (will continue building credit with otp) It takes time, but that will pass regardless... otw to 800 club🖖
Where does your money go while you are making payments to the service. Do they invest it and keep all the profit. Do they invest it and there ends up being a chance I loose all my own money. How about everyone send me a hundred dollars a month and I will give it back to you in two years.😮😅
You want to know what else should be illegal? Getting your credit score dropped once you paid off your vehicle or any large loans.
@@P.90.603 lol it's such a scam. I'm pretty sure you're a responsible person if you paid off your debt so it shouldn't drop once you do lol
Amen, this should definitely be illegal to have your score drop when you pay things off. Why wouldn’t it? It shows responsibility in managing debt. If anything shouldn’t be used to boost a score it’s using utility payments.
I recently paid off a car loan. I forget the exact wording Credit Karma used, but they basically said it was a bad thing that I didn’t owe banks money and I should sign up for some credit cards. The banks really figured out a good hustle to run!
@@kelleyspears1218Banks don’t want you to “responsibly” manage debt. They want you to bury yourself in it. I always thought it would be a great idea to implement a debt management course to all high school kids before graduating. It would be funny to see how fast that movement would be shut down. The government doesn’t run this country. The banks do!
Mine went up
Just commenting to say: You've got this! (I saw your last video and am weighing in with a thank you note:)
I have watched your videos for the longest time and YOU are single handedly to THANK for us (me & my husband) benefitting several hundred dollars in using credit cards smartly. THANKS TO SPECIFICALLY YOU I woke up to the financial benefits of applying for a new credit card when there is a special offer. Once or twice a year I really pay attention and we gain $200-$500 in bonus payments THANKS to YOU!
You got paid to comment.
Zero debt. Zero credit score. Zero problems. Credit scores exist for one reason, and one reason only; so lending institutions know exactly how much money they can extract from you, at a certain level of risk. They are of no benefit to borrowers, because borrowing money is almost never to your advantage.
I meant to comment on your video from yesterday, but I didn't have time. I thought I'd comment on this one since maybe you'd be more likely to read the most recent comments if you're reading any at all. I just wanted to say that I really empathized with yesterday's video. I'm so sorry that you've been dealing with a chronic health condition and questioning your major life decisions. I know how difficult such things can be, and I'm glad to hear that you seem to be on the road to recovery and that you have a loving, supportive girlfriend. I wish you the best, and I will watch every one of your videos and try to remember to give it a like. For example, I have excellent credit and would normally have skipped this video, but I want to show my support!
I have watched your videos for years and I love to find reasons to support you. Me and my husband consider you a friend on the web. Your content ensures your success because you look out for the best interests of others. “You can have everything in life you want, if you will just help other people get what they want.”-Zig Ziglar! Keep at it! The hate comments are just evidence that you are awesome! Being awesome Is intimidating to a world of mediocrity. It exposes darkness. You just keep shining your 💡. Your are not alone.
I do everything on my credit card. I love the points and it helps the score too. As long as you pay in full it's like tricking the system. I think the credit card company hopes you get to a point where you can't pay the full balance every month.
That's a bad move.
Dave Ramsey is dying
Keep doing what you do. Thanks for all the videos over the years. I don't remember when I first saw your videos but I remember being immediately hooked. I loved all the ideas for frugal living and personal finance I've collected from watching your videos over the years.
Hi, I have a question, Does this also work for residents outside the US?
It's kind of sad that this commercial is being passed off as advice
I am pretty sure your information will help many people! Stay strong!
Hey BeatTheBush, we need to see your networth update. That will be so helpful for us. Please keep it up, it’s a pleasure to be your subscriber
You really are awesome and unique. Do not doubt yourself. You are wise and have made the right choices. Things constantly change and as long as you move forward with confidence there is no bad choice. I hope these words and the words of others are enough to encourage you to be happy. 💕
Are these batteries available in Australia 🇦🇺 Paul
I know what you're saying is true because every month I get penalized for not having any loans out. My credit started at 811 many years ago and has slowly gone down to 796 and nothing I do has changed one bit. I owe nothing and pay my two credit cards off in full every month. I own my house and car, so no payments there. I would think with zero outstanding debt I should have close to a perfect credit score. I had plenty of loans when I was younger but now I'm retired and don't have a need anymore for loans. A pretty crazy system where they encourage one to go into debt.
Thanks, that will surely help!
what the difference between this and just getting a credit card and paying t on time for 24 months
huh, in the hood they sell credit score by adding people to their cards and then freezing their credit reports right before they apply for an appartment or something
*If you don't need to borrow you will have it... if you need to borrow money then you're credit will likely not be too great...*
Very interesting...... definitely worth considering................. good advice!!!!!
An easier was is to get someone you know with an awesome credit score add you as an authorized buyer on one of their accounts 😀
You look so much healthier now your Akin. Not dark under eyes glad your feeling better.
Thank you for this information
Could you make a video about buying a house or apartment as a first home buyer please? Government benefits, taxes, buy mortgage or ignore mortgage what are the benefits?
So happy to see your new personal finance video!🎉
Is there a way we can speak to youone on one???
Really enjoying your videos.
The US credit score is kinda weird. Does anything like it exist anywhere else?
Thank you! This is very helpful
Love your videos
First started watching you like 8 years ago.
Don't think I've ever commented but glad to see you are uploading stuff again 🙏 keep going man you were life changing for me ngl
My credit is at 223 I pay cash too
A great video, again. 🙂
how much increase can I expect if I have around 740 score ?
I doubt much... This is more for lower scores
Your score is already excellent, just keep doing what you are doing and lower your utilization. My score fluctuates between 750-820 depending on the weather.
@@loganz damn I can’t seem to bust through 700
What if you already have alot of credit card and personal loan debt that you’re paying off consistently?
if you're already in debt why would you put yourself in even more debt?
@@piskooooo It’s not really debt though.
@@kungfoochicken08 bro he literally cant afford to pay the bills he has now, where is he going to get the extra $600 from? he's going to start putting less money into his actual debts to try to do this. also it's still debt on his credit profile which is probably in shambles right now
@@piskooooo You’re only paying an additional $10 a month in fees to the company. The rest of the money you pay in you get back right away as they release your collateral.
i'd take care of any debt first.
BTB
Do you know any tricks to increase your credit card limit?
I've found using it as close as possible to the limit works. Just buy things u can sell in your market easily/quickly when they go on sale. For example video game consoles, couches, air fryers, power tools. Find stores that ideally give you more than 30 days to refund in case u haven't made that quick sale.
Can you do multiple services like this?
No, doing more than one would not help significantly.
This is completely unnecessary. Just live life within your means. Use credit wisely. Pay your bills on time. Your credit score will reflect this behaviour without having to pay finance charges for digging a hole and then filling it in.
Wrong
Wrong
Some people have problems getting a job and keeping a job through no fault of their own. How do you address this Mr. President?
_That_ is completely false and misleading.
Self is part of a strategy, and it *works.* Used it myself!
2018 was 550/zero credit. Learned about credit, obtained self account and went to like 600ish.
Obtained a cap1 secured card with $49 deposit. Gardened those, and eventually obtained more accounts, such as chase & amex. Now have 12 accounts and 760.
I actually still have the self account, lol! you can take a payout (only good as cash) or put it into a card (will continue building credit with otp)
It takes time, but that will pass regardless...
otw to 800 club🖖
Yes pay your bills on time, however rather than building it over the span of years and years, some individuals can increase much more in less time
Beat the bush you’re the best my man keep on churning you wise cute man bring the stuffed toys back
Makes no sense honestly
51 total accounts!
DAMN!!!!!!!!!!!!!!
i achieved perfect credit score 850 for one month. it was great. lol.
Do you feel happier today ?
The guyzer btb!
Wow, 51 Accounts!!
Yeah…. XD
Genius
Thank qqqqqq
I would never lend to myself. Too big of a credit risk.
I have skin rash like you. What oral med did your taiwanese derm prescribe
1st
DUDE you need to up your production value man.
Where does your money go while you are making payments to the service. Do they invest it and keep all the profit. Do they invest it and there ends up being a chance I loose all my own money. How about everyone send me a hundred dollars a month and I will give it back to you in two years.😮😅