If you are trying to grow your credit score quickly, I HIGHLY recommend keeping your Utilization between 1% - 3% instead. One trick I did was to make a payment a few days BEFORE the end of the month’s billing cycle, to bring the balance down to about $20. It’s reported as Usage and Low Utilization at the same time. Win, win!
I keep a $0 balance on my credit cards, but I found opening more credit accounts every couple years usually bumps my score by improving utilization. It does reduces average credit age which has negative impact, but that's weighted less than utilization.
Love the free game ur sharing! I’d like to add: 1) a credit utilization under 10% at the time your billing cycle ENDS is even better than the 30% rule 2) to boost a poor credit score, find a friend with good credit willing to add you as an authorized user on their credit card. Of course that involves trust of the cardholder. As an AU, you don’t need to actually use the CC. You just want the credit score benefits :)
One big problem with these credit scores; they can take them to a lower score for no reason. I went from a 780 to a 715 for no good reason. I use my credit cards I pay everything on time if not earlier. So if they can do that for no reason what is the point to keep working so hard for a good score? None!
This just happened to me last month because one of my cards went dormant. Issued fixed same day and credit score is still at 715 even after 30 days. I want my original score back!!! This sucks!!! I am furious!!!
If you don't take the time to educate yourself and you use credit correctly, you will pay for that if you want something you can't pay for in cash. Some people make enough money to beat the credit system, most people don't. The information is out there so learn the system and use it to your advantage.
Nice content and very informative video! Two comments from my experience: It seems that I get punished for using more than 10% of my total credit limit and I don’t understand why. Credit cards these days are closing the accounts if you don’t use them for 12 months. I did not know that and my oldest card from Citibank got closed without my knowledge 🥺
I have looked at two of your videos and you do not specifically mention HOW TO GET AN 800 CREDIT SCORE> how to. So, I do not like spending my time this way.
Looking forward to the day when my credit score goes to zero 😄 when all of my debts are paid and I can pay for everything with cash/debit card. The credit score system is a scam.
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If you are trying to grow your credit score quickly, I HIGHLY recommend keeping your Utilization between 1% - 3% instead. One trick I did was to make a payment a few days BEFORE the end of the month’s billing cycle, to bring the balance down to about $20. It’s reported as Usage and Low Utilization at the same time. Win, win!
Awesome and necessary information. I learned a lot. THANK you.
I keep a $0 balance on my credit cards, but I found opening more credit accounts every couple years usually bumps my score by improving utilization. It does reduces average credit age which has negative impact, but that's weighted less than utilization.
Love the free game ur sharing! I’d like to add:
1) a credit utilization under 10% at the time your billing cycle ENDS is even better than the 30% rule
2) to boost a poor credit score, find a friend with good credit willing to add you as an authorized user on their credit card. Of course that involves trust of the cardholder. As an AU, you don’t need to actually use the CC. You just want the credit score benefits :)
Keran is amazing! Hooked on this channel! Thanks so much for sharing. Subscriber from NW FL.
Very clear and concise content. Keep it up and I'll gladly Like the video
This was very helpful! Thank you!
This content is GREAT. Keep it up this channel is very high quality education!!
WOwww this is awesome. enjoyed watching :) thanks for sharing,.,.,.
One big problem with these credit scores; they can take them to a lower score for no reason. I went from a 780 to a 715 for no good reason. I use my credit cards I pay everything on time if not earlier. So if they can do that for no reason what is the point to keep working so hard for a good score? None!
This just happened to me last month because one of my cards went dormant. Issued fixed same day and credit score is still at 715 even after 30 days. I want my original score back!!! This sucks!!! I am furious!!!
It happened to me also. It made me sick
If you don't take the time to educate yourself and you use credit correctly, you will pay for that if you want something you can't pay for in cash. Some people make enough money to beat the credit system, most people don't. The information is out there so learn the system and use it to your advantage.
Same thing happened to me too. WTF?
it happen to me also
I just recently consolidated my debt and my credit score jumped over 100 points, I wish I knew about this years ago
Great content and helpful tips, information
Thank you for sharing
This kid is sharp...i like him.
Does the frequency of payments affect your score? Like is it bad if I pay back 3 times a month
Whats the difference between the credit report and the credit score?
Nice content and very informative video!
Two comments from my experience:
It seems that I get punished for using more than 10% of my total credit limit and I don’t understand why.
Credit cards these days are closing the accounts if you don’t use them for 12 months. I did not know that and my oldest card from Citibank got closed without my knowledge 🥺
I’m pay my utilities bills on time but I have hospital/meds bills, how do I increase my credit score
So would you recomend opening a bunch of credit cards and just barely use each one? So you can have the low utilization and stay under 30%
Nice content
It’s also illegal to charge people higher interest if there is inaccurate information
Gratitude
Has anyone ever looked at WHY they started doing credit scores? That in itself will blow your mind!
I missed the “fast” part 😳
I have looked at two of your videos and you do not specifically mention HOW TO GET AN 800 CREDIT SCORE> how to. So, I do not like spending my time this way.
My score is 820. Thanks for the feed anyways.
Looking forward to the day when my credit score goes to zero 😄
when all of my debts are paid and I can pay for everything with cash/debit card. The credit score system is a scam.
Wow