I didn't become financially free until I was 40. As a US citizen, I got a home equity loan, which had a lower interest rate than other loans. By being patient and careful with my money, I reinvested my earnings and avoided making quick decisions. This approach helped me build my wealth, and I was able to buy my 3rd home and a new car. I really hope this motivates someone to know that it doesn't matter if you don't have any of these things yet; no matter your age, you can start today and change your future....
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Kimberly Ann Doran for helping me achieve this
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
I personally apply for a new credit card if I have a huge bill to pay like taxes. You'll easily meet the sign up bonus on any card. It'll be more valuable than just putting high spend on an existing card
Secured cards (increased down payment) after 6+ months it becomes regular credit (cash returned) best way with *thin file* average credit score ___ remember plan ahead (I wouldn't request increases more than 1x per year = keeping hard inquiries down) *1 hard inquiry per 6 months* no more than 5 applications per 24 months (including credit increase requests) 5+ in 2 years *automatically DENIED* (too eager to get more credit = higher risk) _____ NFCU won't increase the score solely based on request (you must be actively using the card - Reaching the maximums- while holding lower utilizations @ under 30% per each card/report/salary) 1) use to MAX (you are using the card = increased limits on rarely used card is *higher risk* ) 1b) you aren't using their card (they don't make money @ 2% of each transaction if you aren't using) 2) PAY down to 10% before the statement ends (the reported utilization must be below 30% income and card balance) *lower risk* smarter usage 3) if max limits are constantly reached *they might automatically increase upon an overage charge* 3a) instead of denying the charge ( *they increased my limits 2x this way = atleast 1k per increased limit* with 700+ scores) 3b) how quickly are max limits paid, *can't just pay minimum $20* (min payments = high risk) 3c) if smart, maxed and paid monthly, paying in full (they make money, you proved lower risk)
What if my credit utilization when my statement balance is 0% Is that a bad thing?? Or should I carry over a small balance all the time so the credit will go up?
What if my credit utilization when my statement balance is 0% Is that a bad thing?? Or should I carry over a small balance all the time so the credit will go up?
I opened an account with Penfed in May 2023, with a balance of 10K, a Fico score is 776, and applied 2 times for a credit card but still got denied, 1 after 6 months of open account and 1 just last week, not easy like all UA-camr said
How much of an increase should you ask for? I recently got my credit up I had a 2,000 limit increase and was getting denied for the increase till recently I did 3,000 credit limit increase it got approved so what’s the most I should apply for
I have to believe that my income is used to determine my CL. You didn't mention anything about that. I have a Cash Rewards card with $9600 limit. I applied for a increase. I asked for $17000. Didn't hear back until the denial letter. It said the reason for the denial was that I was already at the max amount they could give. I did tell them that I make $6000 per month. I have direct deposit so they could easily see that I do make that amount. I did have a balance on my card of $2500 at the time. Any advice?
Too much too fast (he did state ***available income*** is used to calculate = suggestions of how-to...) ____ you don't want 30% of your income in -AVAILABLE -credit cards (self control is necessary) You want less than 10-30% limits ***reported*** on FICO reports (amount on actual bill = pay down before the billing date to lower usage ***better credit score*** due to lower reported usage = run it back up to same numbers @ lesser "interest" owed) ***NUMBERS GAME*** great especially for REWARDS CARDS (Reported usages = credit score)
I was told that too originally. I have the Platinum, Signature and rewards and was told you can only have 80k max with all 3 cards so if you have one I think it's still 80
@@NaamWynnbro don’t listen to this tater tot ☝️ I listen to you at 1.5x speed- you’re doing great- stick with the program and thank you for what you do 🙏
🚀 Up Your Credit W/ Credit Collective: bit.ly/3Uzrcse
💳 - FIX Bad Credit Today 👉🏾 bit.ly/3s83hUz
📧 Join my newsletter: bit.ly/3stEffR
💰 Best Saving Accounts: bit.ly/47iAMmf
I didn't become financially free until I was 40. As a US citizen, I got a home equity loan, which had a lower interest rate than other loans. By being patient and careful with my money, I reinvested my earnings and avoided making quick decisions. This approach helped me build my wealth, and I was able to buy my 3rd home and a new car. I really hope this motivates someone to know that it doesn't matter if you don't have any of these things yet; no matter your age, you can start today and change your future....
I Hit 110k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. thanks to Kimberly Ann Doran for helping me achieve this
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
You trade with Kimberly Doran too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.
Just got a credit increase! 🙏🏾
I personally apply for a new credit card if I have a huge bill to pay like taxes. You'll easily meet the sign up bonus on any card. It'll be more valuable than just putting high spend on an existing card
Facts
I’ve tried twice for a credit card increase and got denied both times!! I’m not sure what I’m doing wrong!!
Why did you say freeze Equifax? Navy pulls Transunion
Yep, you are on IT. 30k & 50k... CCs Increases have been via TU
🙏
Good information. Thanks!
🙏
I thought they pulled from Transunion? Can someone elaborate more please?
I have a Navy Federal checking and savings account. Should I have money in the accounts prior to my request?
It helps
My Cash Rewards card has a $500 limit. I've spent 5k in the last 2 month's on the card. Should i request the maz CLI of 8k? 1 month to on the 91/3
Ddaanngg I've been doing the limit request part wrong this whole time 🤯
Amen
Navy federal has always told me that they don’t counter offer.
If I have a client that applies for an increase and gets declined.. do they wait 91 days or 181 days ?
Secured cards (increased down payment) after 6+ months it becomes regular credit (cash returned)
best way with *thin file* average credit score
___
remember plan ahead (I wouldn't request increases more than 1x per year = keeping hard inquiries down)
*1 hard inquiry per 6 months*
no more than 5 applications per 24 months (including credit increase requests)
5+ in 2 years *automatically DENIED* (too eager to get more credit = higher risk)
_____
NFCU won't increase the score solely based on request (you must be actively using the card - Reaching the maximums- while holding lower utilizations @ under 30% per each card/report/salary)
1) use to MAX (you are using the card = increased limits on rarely used card is *higher risk* )
1b) you aren't using their card (they don't make money @ 2% of each transaction if you aren't using)
2) PAY down to 10% before the statement ends (the reported utilization must be below 30% income and card balance) *lower risk* smarter usage
3) if max limits are constantly reached *they might automatically increase upon an overage charge*
3a) instead of denying the charge ( *they increased my limits 2x this way = atleast 1k per increased limit* with 700+ scores)
3b) how quickly are max limits paid, *can't just pay minimum $20* (min payments = high risk)
3c) if smart, maxed and paid monthly, paying in full (they make money, you proved lower risk)
What if my credit utilization when my statement balance is 0% Is that a bad thing?? Or should I carry over a small balance all the time so the credit will go up?
What if my credit utilization when my statement balance is 0% Is that a bad thing?? Or should I carry over a small balance all the time so the credit will go up?
0% utilization is GREAT for increasing your credit score, 0% activity will not increase your credit score. Theres a difference.
I opened an account with Penfed in May 2023, with a balance of 10K, a Fico score is 776, and applied 2 times for a credit card but still got denied, 1 after 6 months of open account and 1 just last week, not easy like all UA-camr said
Don’t worry will tell how to get approved
Fwd ur comment there
Gmall
-Naamwynn72
Sorry to hear that!
For scoop Queen what does being a US citizen have to do with an equity loan
How much of an increase should you ask for?
I recently got my credit up I had a 2,000 limit increase and was getting denied for the increase till recently I did 3,000 credit limit increase it got approved so what’s the most I should apply for
3x or $8000, whichever is less.
I have to believe that my income is used to determine my CL. You didn't mention anything about that. I have a Cash Rewards card with $9600 limit. I applied for a increase. I asked for $17000. Didn't hear back until the denial letter. It said the reason for the denial was that I was already at the max amount they could give. I did tell them that I make $6000 per month. I have direct deposit so they could easily see that I do make that amount. I did have a balance on my card of $2500 at the time. Any advice?
Too much too fast (he did state ***available income*** is used to calculate = suggestions of how-to...)
____
you don't want 30% of your income in -AVAILABLE -credit cards (self control is necessary)
You want less than 10-30% limits ***reported*** on FICO reports (amount on actual bill = pay down before the billing date to lower usage ***better credit score*** due to lower reported usage = run it back up to same numbers @ lesser "interest" owed) ***NUMBERS GAME*** great especially for REWARDS CARDS
(Reported usages = credit score)
I have 3 ccs with Navy Fed and was told today that overall the max credit I can have is 80k in total.
Great video, though where is the link to freeze your equidad credit score?
www.equifax.com/personal/credit-report-services/credit-freeze/
If one was planning on taking out an autoloan AND a new credit card. Would it be better to take out the autoloan or the cc first?
It doesn't matter. Just really what you prioritize. I would personally do an auto loan.
@@NaamWynnAmen!
Awesome!
Thanks appreciate it for the credit wisdom
🙏
Wish Navy Fed took your advice…..!!!!!!
Me too!
So I just refinanced my car with NFCU should I wait to apply for an increase or can I go for it?
Go for it!
Just know they pull your credit again because it's for a credit card.
@Vidswithm8na actually when I did it on the app it didn't pull my credit.
I hear the maximum credit limit you can get approved for is x3 your current limit. Is that accurate? Can anyone confirm that with certainty?
Your referring to limit increases. Max is 50k and 80k on the flagship
Hi, wait NF told my the Amex card max is $25,000. Your saying thats not True.
I was told that too originally. I have the Platinum, Signature and rewards and was told you can only have 80k max with all 3 cards so if you have one I think it's still 80
@Vidswithm8na yes I did a follow up call and that's correct. I'll go for a next card. Ty
They only giving 8k ever 6months limits
Correct!
I don't know anyone in military to join 😢
I can give you my access code to get one , all you simply need is a access code to apply
Let me repair your credit!!!
👍
🙏
Why are you talking soooo fast? Please so down so we can understand what you are saying…
Thanks for the feedback!
@@NaamWynnbro don’t listen to this tater tot ☝️
I listen to you at 1.5x speed- you’re doing great- stick with the program and thank you for what you do 🙏
He's talking efficiently 😊
You can reduce your playback speed
Would you recommend credit utilization to 10 to 15 percent? Before applying for credit increase?
That works! Under 10 is ideal
FICO9
750s = under 10
800+ = 1-3.5 percent (you must show usage @ 1% but not more than 4%)
_____
Less 25 points FICO8