Great video and great tips Nate, 30 years ago, when I got my first credit card, I used it as if it was money I won at the lottery! 🙂 It's basically revolving credit, which is money the issuer lends you, so it's a no-interest loan for 21 days after the statement date in general. If you keep a balance on it, you end up paying more interest than the amount owed. I always pay my credit cards in full now. Thanks for the video, I love watching them, you do your research and you know your stuff well 🙃
I have a student card from Scotiabank (oldest) and a student card from CIBC (3 months less older than the first) I recently graduated and got a job and looking to upgrade my credit card How should I upgrade without hurting my credit score or closing my credit line?
You can product change your existing student credit cards that keeps that credit card account open and keeping that history going in the eyes of the credit bureaus. Talk to Scotiabank and CIBC and ask for a product change to the best no annual fee cards they offer
Hey. I'm a big fan of your videos, but I have got a question for you. I'm a university student that is 19 years old. I've got 2 credit cards already (bmo cashback, cibc areoplan). I really love building credit, and I'm managing to keep credit utilization around the 10% and always pay back on time. Do you think it would be worth it to apply for an amex cobalt? With all the benefits they offer and being able to save amex points for the future looks really exciting. My concerns are that I'm not sure if I'll get approved because of my credit age. And if the $155 annual fee would cost more than I gain. (My credit score is 720)
Applyyy, that’s hands down the best credit card out there for students since you can rack up points fast af. I got it with 711 credit score so you’re good!
Hey!! New subscriber here! It's so hard to find good channels like these for Canadians. Would love to see some new videos!
Why not just pay the balance before the statement closing date so you have a low credit usage
Great video and great tips Nate, 30 years ago, when I got my first credit card, I used it as if it was money I won at the lottery! 🙂 It's basically revolving credit, which is money the issuer lends you, so it's a no-interest loan for 21 days after the statement date in general. If you keep a balance on it, you end up paying more interest than the amount owed. I always pay my credit cards in full now. Thanks for the video, I love watching them, you do your research and you know your stuff well 🙃
Thank you so much my friend!! That means the world! Credit cards are great but you must be responsible!
What about paying credit off early?
For those who mess up their CCs, my opinion is don't spend more than 30% of your net cash in hand.
I have a student card from Scotiabank (oldest) and a student card from CIBC (3 months less older than the first)
I recently graduated and got a job and looking to upgrade my credit card
How should I upgrade without hurting my credit score or closing my credit line?
You can product change your existing student credit cards that keeps that credit card account open and keeping that history going in the eyes of the credit bureaus. Talk to Scotiabank and CIBC and ask for a product change to the best no annual fee cards they offer
Hey. I'm a big fan of your videos, but I have got a question for you. I'm a university student that is 19 years old. I've got 2 credit cards already (bmo cashback, cibc areoplan). I really love building credit, and I'm managing to keep credit utilization around the 10% and always pay back on time. Do you think it would be worth it to apply for an amex cobalt? With all the benefits they offer and being able to save amex points for the future looks really exciting. My concerns are that I'm not sure if I'll get approved because of my credit age. And if the $155 annual fee would cost more than I gain. (My credit score is 720)
Applyyy, that’s hands down the best credit card out there for students since you can rack up points fast af. I got it with 711 credit score so you’re good!
Thank you!!! Do you think having a young credit age would be a problem. My oldest credit line is 12 months
@@alejandromesa8503how old was ur credit age when you got it? And what was ur approx income if you don’t mind?
Did u end up getting accepted? and do you know what credit score people start off with?
Pay on time !!!
Exactly!!