Hey man! Thanks to your method I have went from 0 credit to 727 and bumped my first $300 credit card limit to $775 and got pre-approved for a discover card with a $2,000 limit. ALL WITHIN 6 MONTHS!!! I haven't ever had any kind of credit, yet thanks to you I am 20 years old with a 727 credit score and most likely well on my way to 750 within the next 6 months while I continue watching your videos. Thanks bro!!
@BeatTheBush6 жыл бұрын
Yup. That is why this video is here. Free, for you. Glad to have you watching my vids! =D With this score, just use it responsibly and never carry a balance. NEVER.
@imabosnian6 жыл бұрын
Thank you so much sir! And for sure! Building my credit has become a hobby to me now, having it go down would be devastating lol. I am constantly checking my balance. I have alarms on my phone set at the 20th of every month so I make sure I have all my cards paid off before my utilization rate gets sent to credit bureaus! Once again, thank you my Credit Messiah!
@BeatTheBush6 жыл бұрын
You're welcome! =D
@jasminebutler1945 жыл бұрын
BeatTheBush I do not understand. My credit limit is $500 and I was told to stay at a 30%. So now I am at $150. I just need to know if I need to pay it off or stay at the $150 to increase my credit score
@amv12vantage7 жыл бұрын
I think what he's saying is to spend near credit limit every month (only if you have the cash to pay it off first). Then, as time goes on, your limit will increase and therefore you will be using a lower percentage of your available credit but still spending the same.
@BeatTheBush7 жыл бұрын
That's part of it yes. The purpose is to get a higher limit faster.
@Kissy-Suzuki Жыл бұрын
@@BeatTheBush ....So, is it correct that you have to pay it off every month? ....Not, just make the minimum payment?
@nathanjimbob78855 жыл бұрын
Can confirm. I got my first credit card 6 months ago. I had a 580 score and a $300 limit. I maxed it and paid it off every month for 5 months. Last month they moved my credit limit to 500. As of this month I have a score of 672 and a second card with a $700 limit.
@rhyan19865 жыл бұрын
Was this a secured card?
@nathanjimbob78855 жыл бұрын
No. It was a capital one platinum.
@christopherdouglas17114 жыл бұрын
Credit patchup llc, a credit card debt relief company, just released the 9 best ways to increase your credit score. To increase your credit score there are basic principles and steps that all Americans should know. Credit card debt relief may be the first step to taking, before working to increase your credit score i use the help of [Jon@creditpatchup.com] to increase my score and pay my debt ..
@tonybruno98977 жыл бұрын
According to the bank utilizing above 30% tells the credit bureaus that you are a credit risk. At least thats what ive been told.
@BeatTheBush7 жыл бұрын
It is if you keep a running balance above 30%. Using it up to 100% and paying it off is a whole different story.
@leesemonya65946 жыл бұрын
i just got aprroved for 500 credit limit so i can get a laptop lets say for 300 and pay the entire amount by the end of the month? I'm still a little confused on how to use it.
@damonpaige83216 жыл бұрын
BeatTheBush that's what I was thinking they might say that when they first see it but when u pay it off that changes things people out here need to spend more than 30% in case of emergency this should be considered in most credit bureaus
@eljuancho26 жыл бұрын
Leese Monya you can use the 500 as long as you pay it off in full by your due date, set up auto pay if you can and set alarms 😎💰🎉
@TimCurry046 жыл бұрын
Banks and CC companies view credit differently. When it comes time to visit the bank, keep you uti well under 30%.
@madebytiwari4 ай бұрын
Short, sweet and direct to the point. That’s how YT videos should be made.
@getgaben7 жыл бұрын
Yes wholeheartedly agree, I made purchases almost maxing out my credit limit and paid it off in full and didn't carry a balance. After two months I applied for a 3x limit increase and it was granted (amex). Now I don't have to worry about over charging my card, plus the increased credit limit will surely help on my vacation next month :D. Also my points came in and I just paid off a few days of my hotel stay on my statement, so worth it. For the person below, a trick I use to keep older cards active is to put my smaller recurring billing on them such as cable bill, phone bill, gym membership, insurance, etc. I set it on autopay and forget it.
@BeatTheBush7 жыл бұрын
Excellent! Sounds like you don't even need this video and did the strategy already. I got a good way to keep those cards active coming in a future vid. The gym memberships etc is best placed on 2% cash back so you get those too! Just a thought if you would like to consider.
@getgaben7 жыл бұрын
I always learn a lot from your videos and find them insightful. Whether I may know the strategy or not you always put out great content and I'm constantly learning. And thanks, i'll definitely put those on my cash back card... although it's only 1.5% :(. Your feedback and insight is always appreciated.
@BeatTheBush7 жыл бұрын
Thanks! I appreciate your encouraging comment! Ahh then might want to look to get the Citi Double? Of course, you'll want to keep the cards your currently charge those random bills active so that vid on how to easily do that is coming Monday.
@mariavictoria4146 жыл бұрын
There are a lot of people in you tube talking garbage and giving confusing information. This guy is the only one I feel I could trust. Thank you for sharing.
@BeatTheBush6 жыл бұрын
=D You're welcome! =D
@fernandopalencia96597 жыл бұрын
You are describing how to increase a credit limt...not your credit score as the title says. Low credit utilization is good for your credit, not good for your credit limit. If you are watching this video you are probably tryig to build credit.not your limit. Chances are you have a card or two on one ard use the recomended 30% EVERY MONTH and pay it off EVERY MONTH, by your due date. On the other utilize a good 50-60 and do the same. Now, obviously if your credit limit is 15k you dont have to spend 7.5k every month. Just do it with one card at 30% and if you have one card do 30%. Technically the amount you soend and pay off every month does not matter. But the utilization rate has a HIGH rating impact on your score. So if you average it at 30%, your balance will never show a to high and therefore will not receive that negative impact..opposite actually you will be BUILDING positivley! If you are just trying to show good payment history wether you spend $5k or $5 it does not make a difference, but remember. As soon as that balance goes over 30% - 35% of your total availible credit limit it will start to impact you negativley more and more thenhigher it goes. STAY BELOW or at 30!
@BeatTheBush7 жыл бұрын
The credit limit increase is a gateway to increasing your score. This is how I increased my score greatly early on and very quickly. Many that have tried this method as well can vouch for this method as well. You'll find some of these responses in this comments section.
@fernandopalencia96597 жыл бұрын
Oh definitely, I do agree that increasing your credit limit is a way to boost your score as it automatically lowers your overall utilization ratio and increases available credit. I was just a bit confused on the title that is all. Just offering an explanation for the folks that can not get a limit increase but want to build the credit with just that 500. / Keep up the good work! You give very good advice and remind me of many authors that provide great advice for the price of their books, you provide great advice for free and I commend you for that. Financial intelligence is getting less and less rare to come by with people like you. That is a wonderful thing! Also, I am almost done with my civil BA!
@reinvent9056 жыл бұрын
once your limit increases thus your score..
@Thekodezone6 жыл бұрын
Never go over 30% max credit utilization. It will tank your fico score. This post is not about boosting your "score" at least in the short run but about increasing limits. If you keep your utilization under 30% and pay the bill off when due you will without a doubt get an increase anyway so to get both fico "score" boost AND limit increase just keep usage below 30% and pay bills on time. DO NOT MAX OUT CREDIT LIMIT!!! As I said even though you will get limit increase it will instantly tank your fico "score".
@outsiderdf5 жыл бұрын
Increasing your credit limit increases your credit score and also allows you to have a low utilization ratio.
@SamSung-jv3jm2 жыл бұрын
Ive been rebuilding my credit since Jan 2018. Unfortunately , the smaller "second chance" credit issuers rarely give out generous increases , more like $250-$500 max so usually not worth the drop in your credit score to employ this method. I find that its much easier to improve the credit score and then open a brand new credit card that has a higher limit.
@freeinthespirit88172 жыл бұрын
Use fingerhut to build your credit
@MrDarkhawk19727 жыл бұрын
Thanks for the great videos. I just discovered them tonight and I am thoroughly enjoying them. I'm finally in a position to start tackling this journey head-on and look forward to watching more videos.
@BeatTheBush7 жыл бұрын
Welcome! Hope you find my vids helpful. I'm sure you'll get your score up pretty fast. Just watch for the videos that fits your situation for best results. =D
@jacedrums20697 жыл бұрын
I haven't sifted through your 350+ videos yet but I have seen quiet a few. I am starting to rebuild mine and my partners credit back up by becoming authorized users on each of our cards currently opened 4 (totalling $900) with low low limits. First, I'm not opening up any more at the moment with the exception of maybe the discover secured. What was interesting was after only having the first two cards for 2 weeks I got approved for an unsecured QSO from Capital One. I have a bunch of student loans and my bad history is finally starting to fall off. I currently also have about $70K in student loans (Yay... Comp Sci Degree). I have some minor collections that I intend to pay off because they are sitting at about 4 years. I also have a judgment on a very old credit card $3k. That is my situation in terms of credit issues. We have 2 leases (with some lates prior to our significant raises) on our cars. However, both of our credit score sit in the mid 500s. No matter what I do they don't move. So I'm assuming I just need to pay the collections and open some lines (we had zero cards). Time to turn a new page. I have a payment arrangement with the judgement. A payment arrangement with one of the collections. My student loans will be coming due soon in the next year but luckily I live in a nice state that has tax break on student loan payments. The plan for the cards is as follows. Transfer a portion of our spending to the cards and just use our paychecks as the funding method...essentially paying the cards off as soon as we can because the money is just sitting in the bank. I haven't really seen any one talk about the TWO major dates for credit cards. Please correct me if I'm wrong. The first date is the date they take the snapshot of your account. For discover it is the statement date. This balance they use to report to the CAs and cut the bill. The due date for the bill is when you must at least (but all) pay the minimum. My strategy is because I have the Discover It and the QSO with the rewards is to try to use these cards as much as possible.. However, bring the balance down in time for the reporting date so it shows the < 30% or whatever people recommend. That way it shows the bank that you are using the card heavily but also can easily manage the balance. Am I wrong in thinking this way? As far as my other debt what do you recommend? Thanks sorry for the novel, Jason
@BeatTheBush7 жыл бұрын
Ha ha, just like my 350 vids, you comment takes me a while to go through. Why would you add each other if both of your credit score isn't that great to begin with? Why the heck do you have so much debt with a Computer Science Degree? Yes paying off your collections will be a great start. Pay all bills on time is obviously the next time. Get a free credit report and make sure everything is correct. I just made a vid on this here: kzfaq.info/get/bejne/p9N0itik0LS-kYU.html Payment date vs due date vid here: kzfaq.info/get/bejne/aZObodmFnLDGhJ8.html The 30% thing is not the best actually to getting your score higher fast. Seems like you haven't gone through much of my credit score videos. Check out my playlist and watch a few of those. It answers all of those questions.
@jacedrums20697 жыл бұрын
To answer the first question the cards are brand new. So there is no bad history with any of them. The goal was to get new good credit by opening a few and just becoming authorized users on each. We share our finances and it seems to work for us. So we figured if we just managed them right (which is the plan) then it wouldn't hurt to add us to each other's cards. As far as debt amount. I transferred and basically had to start over again. Given the circumstances at that time I had no choice and if I just stopped I would have 30k (out of state student) and nothing to show for. So I moved home and finished my degree. All this bad debt is just old from like over 4 years ago just sitting there. I haven't actually accrued any recent bad stuff (except for 2 slow car payments) and I'm just waiting for stuff to fall off. Similarly with him except he has much less debt (only like 2k) total. Do you not suggest cosigning on each other loans and credit cards? I'll continue going through your videos!
@Boss21647 жыл бұрын
i did this before watching this. and today my credit went up by 500
@BeatTheBush7 жыл бұрын
=D Excellent! =D
@frankiegunnz80666 жыл бұрын
MakeUFumble How long did you do this before It going up?
@ericonca7 жыл бұрын
My credit limit started at $1,000, then increased: $2,000, $3,000, $6,000, $8,500 within the first 16 months without "trying" to get it increased. Sometimes you just get lucky and they will increase it after X months because you've always made your payments on time.
@princessmeganelsaa66772 жыл бұрын
Just got approve for $500 this morning i always pay my credit off early as possible lol...
@aoihana10427 жыл бұрын
Thank you so much for these videos, they are really helpful. I am relatively new to the US, from a country where credit cards are not that popular. I have just applied for my first secure credit card so I'm eager to learn about proper usage and credit scores (which was a foreign concept for me)
@BeatTheBush7 жыл бұрын
Welcome to this strange system of credit score where there is no introductory course and it's pretty much a mystery to most people. I tried to put the info through my vids though. So enjoy. =D
@michaelrobinson39807 жыл бұрын
This is absolutely true, I have a Cap 1 card that started with a $300 CL, over the course of 3 months I would max out and pay off in the same month. Without requesting, I received a increase to $500 then $750!
@BeatTheBush7 жыл бұрын
Did you do this after watching this video or you did that on your own? I'm curious, please do tell. =D
@michaelrobinson39807 жыл бұрын
Did it on my own actually, but I did pick up quite a few tips from you BTB
@colehawk61656 жыл бұрын
This trick doesn't work with Cap 1. Those increases happen regardless
@cyndisays7 жыл бұрын
ohhh. ok, thanks for lender tip too.
@BeatTheBush7 жыл бұрын
=D You're welcome.
@phillipmartinez24366 жыл бұрын
pure genius I unintentionally did this with one card and got an increase several times, I paid it off of course. My other card I kept under 30 percent and after 2 years have yet to get an increase on that one.
@anneza57 жыл бұрын
I had good credit in the 800's. Bought 2 plane tickets & hotel for 2 days plus 2 dresses for my son's wedding. Paid off the entire amount as usual. Now my credit is 799. I came no where near my credit limit of $7,000. What did I do wrong to make it go down?
@BeatTheBush7 жыл бұрын
You probably pushed your utilization too high even if it's no where near 100%. Just pay it off and you'll see it bounce back the next month.
@keipaedu32395 жыл бұрын
Buy money using credit and pay them back with that miney😂
@ttucci2157 жыл бұрын
I have a 300 limit on my card. But I pay it as soon as my bill post on the mobile app. Once it's paid it basically resets and puts another 300 available balance. So my limit is only 300 but I have used it all the way up to like 1500 in one month because I pay it immediately as soon as the bill post. But my question is it's only raising my credit score by 1 to 2 points each month. Is there something I'm doing wrong or is that the standard a couple of points each month.
@BeatTheBush7 жыл бұрын
300 limit sounds like an secured card? You should look to get an unsecured card asap when your score is good enough. It should go up higher and faster than 1/2 points each month. Try to get a 500 limit secured card. What is your credit score right now?
@mrmentorcreditjamz93055 жыл бұрын
@@BeatTheBush i have unsecured Capital one 300 limit... Also capital one secured business 500 limit.. Scores on Credit Karma . 632 636... Scores are moving up slow.. I want the 700 club
@mrmentorcreditjamz93055 жыл бұрын
Today's scores... 652...656...647
@9kb20vtec5 жыл бұрын
POINT2POINT TRANSPORTATION LLC Those score are useless. You want real numbers, get your fico score.
@FirstNameLastName-cm5sr6 жыл бұрын
I’m confused. What’s the need to increase your credit limit? And when do you stop with the high utilization?
@briandougherty481 Жыл бұрын
I learned this on my own and it worked
@BeatTheBush Жыл бұрын
Nice!
@mackamoramechs5 жыл бұрын
Does this work for a secured card?
@crarazy7 жыл бұрын
I know with my Discoverit card, I started with a $500 CL, and paying it off every month, after every 6 months, they raise my CL $250. I'm currently sitting at $1000 CL and I assume it will keep increasing hopefully every 6ish months.
@BeatTheBush7 жыл бұрын
Interesting data point that they only raised $250. I would have guess double. You could also do well for a few months and call in and specifically ask for the increase.
@carlospulido94587 жыл бұрын
Crarazy Same happened to me lol
@BeatTheBush7 жыл бұрын
Maybe that's their new policy these days. $250.
@brianyun2497 жыл бұрын
Crarazy Nah that's not their policy. I started with 500 dollars too about 2 years ago. Next bump was 2000 dollars. Now I am sitting with 22500 dollars. I don't have an excellent credit either: about 700.
@crarazy7 жыл бұрын
Brian Y. I have a student card so I feel like that might be the reason why. Unless you do too, which would be odd.
@Quietriotou8127 жыл бұрын
Great videos. Are you going to do a video on how you keep credit cards active that you rarely use? What method do you use to keep spare cards active?
@ralc7 жыл бұрын
Yeah, I am interested on that topic!
@zacklazarus16847 жыл бұрын
PlantbasedQuietriot Hi, I would recommend to just use those cards once a month if not once every three months on a really small charge if you don't use those cards cause the have no cash back or rewards that is how I would use them to avoid the issuer closing the card due to inactivity.
@BeatTheBush7 жыл бұрын
Yes, that video will be coming out on Monday. You'll like that one.
@BeatTheBush7 жыл бұрын
Zack: You are right on with that one. I'll have to keep everyone in suspense here until Monday. There are couple easy ways to do this without breaking a sweat.
@zacklazarus16847 жыл бұрын
BeatTheBush: Awesome dude thanks and I hope you have a great weekend.
@hesterboygames83226 жыл бұрын
a car dealer told me to use what i can affored to pay back with a 0 balance at the end of every month do this 6 months and i can buy my first car but my method works with a fair credit score so far he was right but he wants me to buy a car
@joshuamendiola53317 жыл бұрын
I love watching your videos. I am currently in a credit plateau of 730. can you make a video on how we can get a more advanced score?
@BeatTheBush7 жыл бұрын
Yes, I have a video on exactly that coming in a few days. The plateau is real and if you want to keep going up, there are a few active things you can do.
@SportZFan4L1fe6 жыл бұрын
Whats the difference between "STATEMENT DATE" and "DUE DATE"???
@TylerAllen996 жыл бұрын
I’m 19 and got a discover secured credit card with a $200 limit and after graduating from secured to unsecured with a $500 limit then months later I’m at $1,500 limit now with a fico score of 734
@jokerpunk4 жыл бұрын
Very awesome so just spend it to almost the max limit and leave about 2 dollars left and then pay that 2 dollars before the due date
@christopherdouglas17114 жыл бұрын
Credit patchup llc, a credit card debt relief company, just released the 9 best ways to increase your credit score. To increase your credit score there are basic principles and steps that all Americans should know. Credit card debt relief may be the first step to taking, before working to increase your credit score i use the help of [Jon@creditpatchup.com] to increase my score and pay my debt ..
@jas80127 жыл бұрын
Thanks. Fantastic info. You answered exactly what I was looking for
@BeatTheBush7 жыл бұрын
=D Gladly! =D
@armystrong89896 жыл бұрын
Thats a good concept, but I usually have to make payments before the billing cycle ends just to keep my utilization low and reflect decent usage at the same time.
@susanvelez65347 жыл бұрын
Great job again BTB!
@BeatTheBush7 жыл бұрын
=D Thanks!
@jennymarms6 жыл бұрын
I had a $300 credit limit and I used up 90% of my credit limit last month, and I still had time before the due date to pay it off but credit karma updated my score and it actually lowered it down to 44 pts. Then I got worried so I paid it all off. This months credit score went up 22pts and my credit limit increased to 550. I can see how this can raise your credit limit, but my main goal is to raise my credit score. I’m scared if I keep doing this my credit score will drop more than it will raise.
@luzsilva36046 жыл бұрын
once they that you use up all that credit limit of 500 after a while when would be the right time to ask for an increase?
@BeatTheBush6 жыл бұрын
If you do it 3 times a month then you spent $1500. You can ask after a month or two. If you do it once a month... then perhaps after 3 months.
@tainatny3 жыл бұрын
This definitely works. Thanks
@collectiveconsortium78707 жыл бұрын
so... the 500 dollars is vital? what i would like to see is an example video building from bad credit, to swcured card and the steps beyond that including a time frame... thanks
@BeatTheBush7 жыл бұрын
Your credit limit may vary so it is not vital to get exactly $500 credit limit. Everyone's situation is different so it may take some longer than others. If you have good income and run though your limit 2-3 times a month and pay it off in full when you hit the limit, you can probably hit 740 in 6 months. That's the best case. Beyond that, it'll take a long time because you will be missing the credit history factor which you cannot speed up.
@collectiveconsortium78707 жыл бұрын
BeatTheBush so i should look to hit apx 740 before expecting an offer of 1000 or 1500?
@collectiveconsortium78707 жыл бұрын
BeatTheBush i know its not exact but thanks for all the knowledge... i mean that.
@BeatTheBush7 жыл бұрын
No necessarily. You can get those limits much before that.
@triciacortes69197 жыл бұрын
I only have a secure cc with OpenSky and I believe this won't apply to that because they wouldn't increase my credit until I increase my deposit. At least that is what I was told by them.
@BeatTheBush7 жыл бұрын
I doubt this works with secured cards because they want every dollar secured. This video was more about unsecured cards where they will raise your credit limit. If you have a secured one, you may look to improve your score enough to then get an unsecured card first.
@triciacortes69197 жыл бұрын
BeatTheBush. Thanks. I am Subscribe to your channel and love all your videos.👍
@BeatTheBush7 жыл бұрын
Glad to hear it! =D Thanks for subbing! =D
@priscilladoku45435 жыл бұрын
What is a credit line exactly? Do you put money on a credit card? How does it truly work?
@BeatTheBush5 жыл бұрын
For unsecured cards, you can buy things on the card without paying for it until they bill you. For secured ones, you pay say $500 to have a credit line of $500.
@nelson303387 жыл бұрын
Yes I agree that increasing your credit limit can help lower your utilization if you're unable to keep your utilization between 10%-30% or lower. But if you have an unsecured card with a $500 credit limit and you're already able to keep your utilization between 10%-30% why should increasing that limit matter when it comes to boosting your credit score? Any insight on this would be appreciated. Great video btw.
@BeatTheBush7 жыл бұрын
The lower utilization the better, not just 10-30%. You want near 0%. That should explain things.
@nelson303387 жыл бұрын
Agreed! You can get that without a higher credit limit though. That's the point I was trying to make. Appreciate the response.
@johnnyapplenoseeds48495 жыл бұрын
Thank you soo much for your knowledge! To increase my credit limit and boost my score? Should I utilize 100% of my credit limit, then pay 99% of the card off before the ‘statement closing date’ ? Leaving me with 1% utilization on my credit report, and showing the bank I handle a need a larger limit?
@yungryu83284 жыл бұрын
Question: why would almost maximizing the credit limit make your credit score go down when you leave 0%-9% on the statement closing date? Ex: statement closing date on the 10th; $1000 credit limit; use $950 by the 8th or 9th which leaves $50 on the closing date. That is 5% utilization rate. Doesn’t it not matter how much you use as long as you generate a below 9% utilization ratio by the closing date?
@BeatTheBush4 жыл бұрын
It can make it go down short term but the purpose is to increase your credit limit fast by showing you need this credit and can repay it back with no problems.
@yungryu83284 жыл бұрын
@@BeatTheBush got it. thank you!
@antonshvets526311 ай бұрын
@@BeatTheBushThat is my question as well, why not use the limit through the month but pay it off to leave 9 or lower utilization before the Statement Date so that it doesn't hurt the credit score. Or does it have to be the usage shown on the statement for this to work? Won't the credit issuer see that you're using most or more of your limit, even if paying it of the statement will show low utilization?
@druog4427 жыл бұрын
very true advice.
@BeatTheBush7 жыл бұрын
Yup yup!
@lovelydaytoday34846 жыл бұрын
Thanks for this tip!
@Searchn4answrs7 жыл бұрын
Thanks for the info
@BeatTheBush7 жыл бұрын
You're welcome!
@thetruthnevertold4 жыл бұрын
what I had a pre-paid 200 dollar card I used 200 every month, not a penny over and I paid it back every month and my score dropped to 300
@davidprasad657 жыл бұрын
Awesome video!
@BeatTheBush7 жыл бұрын
=D
@profitbands Жыл бұрын
wait, so maxing out my cc will hurt my credit, but will increase my cc limit??? 🥴 what if i need to do BOTH?
@johnryangranada80266 жыл бұрын
Thank you for the quick bite-size video! I am on my way to building my credit~ One... purchase... at a time! ^-^
@BeatTheBush6 жыл бұрын
Yup! Use it like a debit card, never carry a balance. =D
@jahfus4 жыл бұрын
AMAZING info bro we appreciate you 🤘 plus you look and sound just like my homie OG joe 👊
@BeatTheBush4 жыл бұрын
=D Thank you. A few have said the same. So weird I have duplicates running around.
@feed3tee4366 жыл бұрын
Gr8 Strategy Sir you just gained a sub✌💯
@BeatTheBush6 жыл бұрын
=D Thanks. =D
@emilhajric-helpjuice7 жыл бұрын
Question! What would you do if you're around the 650 mark, and would like to get to 700-730? I have 1 credit card, Chase, that allows me up to $20k of credit -- which of course, I don't spend to that limit. Ideas?
@carlospulido94587 жыл бұрын
Emil Hajric Get a second card? Make sure your credit utilization is lower then 10% when reported. That or you can wait and keep using it responsibly and it will go up slowly
@BeatTheBush7 жыл бұрын
I have an idea but I don't want to give away the punch line for my next video. Its specifically geared towards medium credit level like yours and what you can do actively to improve it further.
@whatutalknboutwillis24283 жыл бұрын
Good Advice 👍
@ponoauwae41777 жыл бұрын
Is it okay to just pay off your bill right when you make a purchase?? Plus is it okay to pay your bill 10 days or earlier before the deadline to pay the credit bill? I'm new to credit so I'm just trying to understand it.
@BeatTheBush7 жыл бұрын
Sure but then you wont get the effect of seeming like you need more credit if you get close to the limit. You can absolutely pay it 10 days earlier than the due date. You can pay in full right after they issue you the statement.
@BiggSneaddd7 жыл бұрын
I have an OPEN SKY CC SECURED CREDIT CARD and from what they told me i the only way to get a credit increase I would have to put my own money towards a credit increase and that they dont add money to peoples acct we would have to do it ourselves if we want a credit increase.... So how would this video help my credit?
@BeatTheBush7 жыл бұрын
If you have the money, go ahead and put more money to increase your credit. You goal here would be to get your score high enough to be able to get an unsecured card later on. Then you can cancel the secured card after this and get your money back.
@BiggSneaddd7 жыл бұрын
BeatTheBush But I thought it wasn't good to cancel good standings on your credit
@BiggSneaddd7 жыл бұрын
Also even though i have a SECURED CREDIT CARD with OPEN SKY when they report they report as a UNSECURED CREDIT CARD.....
@kjay67347 жыл бұрын
Can you please do a video of the benefits of a secured credit card? I'm still trying to understand credit and I only get approved for secured credit cards. My credit scores are in the 6 and 700.
@BeatTheBush7 жыл бұрын
Sure, I'll note that down. Thank you for your suggestion.
@BeatTheBush7 жыл бұрын
Wait a minute. I don't need a video for that. A secured credit card benefits the card issuer so you don't run away with their money. It's generally for people with low credit scores. So use your secured card responsibly and you can later upgrade to a normal credit card.
@kjay67347 жыл бұрын
Thank you! Would you have any idea why I'm only getting approved for secure credit cards with a credit score in the 6 and 700 hundreds?
@BeatTheBush7 жыл бұрын
Probably because your credit score in the 6 and 700 hundreds. Short history, too many inquiries, etc could all make that happen.
@kjay67347 жыл бұрын
OK. Would you happen to know good credit company who can help me clear my credit and get a better understanding of my credit more? It can be a online company.
@fuadahmed247511 ай бұрын
Bout time, someone with the truth…I didn’t like this whole 30% utilisation
@Dayfloss4 жыл бұрын
It takes 4 years to build credit
@christopherdouglas17114 жыл бұрын
Credit patchup llc, a credit card debt relief company, just released the 9 best ways to increase your credit score. To increase your credit score there are basic principles and steps that all Americans should know. Credit card debt relief may be the first step to taking, before working to increase your credit score i use the help of [Jon@creditpatchup.com] to increase my score and pay my debt ..
@myownpath10466 жыл бұрын
Yeah but it's not up to the creditor to up your credit score but up to the credit bureaus
@peanutbutter9014 жыл бұрын
Thank you!
@ericterrin63387 жыл бұрын
so ok your saying... cuz i do have a secured card with a 200 dollar limit..is to use over half of it if i need to but do i pay it off befor the report date wich is the 7th of each month or do i pay the monthly 25 bucks a month untill its paid off and build a monthly payment history doin it. wich road do i choose.
@BeatTheBush7 жыл бұрын
Never EVER keep a balance just to improve your history. It is not worth the interest fees you have to pay. Pay it all off before the statement date (or report date using your words).
@ericterrin63387 жыл бұрын
ahhhh ok kool. i get it well let me ask u bro....so with a fingerhut your credit builder loan... 5 secured cards you think with proper usage the 650 range is in sight within a years time ..im at 529 now and none of the new stuff has hit my credit report yet meaning fingerh cbuilder or the 5 credit cards has not reported yet all that stuff is brand new
@BeatTheBush7 жыл бұрын
Sounds reasonable to me. Fingerhut sounds like a name of a bank for your credit builder loan?
@ericterrin63387 жыл бұрын
lol fingerhut is a buy now paylater online thing but they report to all 3 credit beurals and has been around for years. but my mom used it for years and it eventually got her score in the 800s but thats all she had and it took yrs for her to do.
@BeatTheBush7 жыл бұрын
Oh! That. I know fingerhut, I thought it was some financial place rather than the catalog place. Oh man, buy now pay later things in general are dangerous. How much interest do they charge?
@georgelouis65157 жыл бұрын
HELP! Did you do a video on car loans? My dad "bought" my car for me and I co-signed because I didn't have any credit yet and they gave me over 8.4 interests rate for the next 6 years. I'm not happy about this. I'm not happy about having to be the co-signer and I'm not happy about the interests. I feel like I started building my credit for nothing. What can I do now?
@BeatTheBush7 жыл бұрын
Huh, 8.4% is nuts! I really don't know what to say. If it's a practical car then pay it off ASAP. Your credit is still being built as long as you make the payments though. Seems like you got the car while you didn't have such a good score though. Perhaps you could refinance the car after you bring your score up to a lower interest rate though a credit union loan.
@georgelouis65157 жыл бұрын
When I build some credit will you tell me how to do that or make a video on how to refinance?
@syjk1297 жыл бұрын
Hi, if I spend up to the credit card limit and pay it off completely and do this multiple times a month, how will my credit score be affected? I got my first credit card too late, and since I have good income, I can do this without straining myself.
@BeatTheBush7 жыл бұрын
You can cycle it and pay it off as much as your wallet allows you to. Certain creditors will behave differently and I heard from another comment they cancelled their card for 'over using' it but later got approved for a better higher limit card. So I would just do at your comfort level and your limit will rise pretty easily. The number of times you cycle is not related to your score, only the ending amount on your closing date.
@itami85963 жыл бұрын
Thank you
@julianrosalesniles23356 жыл бұрын
When I got my credit card from Discover, it came with a $3,000 credit limit and now the credit limit is $4,200 in less than a year... By the way I have a really good credit score
@BeatTheBush6 жыл бұрын
Nice! You may want to try to apply for another one depending on your current score and if you can withstand a hard inquiry which will greatly increase your limit easily.
@Val95486 жыл бұрын
I am currently going thru FED yo clear up the remaining 3 items on my reports. After that what do you recommend if I don't hav3 any revolving lines of credit? I've paid cash for everything over the years and it's as if I would be starting new. What would you recommend? I've been told to get a secured card now and just pay the $300 to start and I've done research on tradelines as well. Thanks, great information.
@GioMillz6 жыл бұрын
Useful, keep it up!
@BeatTheBush6 жыл бұрын
Will do!
@olympianbody17856 жыл бұрын
Why do you need credit? I am not from US and can't really understand this obsession US people have with credit and credit limit.
@BeatTheBush6 жыл бұрын
You need it to borrow money at a low rate to buy a house or car. You may also need it to get a job as they check it often. In the US, most cannot afford to buy a house in full so a loan is required.
@olympianbody17856 жыл бұрын
Thank you for your reply. You should not buy a car you cannot afford (that means you can pay cash with it and it's not the majority of what you make early). My understanding is a lot of Americans buy really really expensive cars when a car is just a way of transportation(that happens a lot in my country too and we are WAY poorer then the Americans). Regarding the house, I totally understand you but my understanding is that you don't need to have credit cards to get a mortgage. There are some banks (not all) that can grand you a mortgage even if you don't have a credit card (you need to go in the bank and they analyze your particular situation). Everybody does what they think it's best :) Good luck!
@CumminsN14DBest5 жыл бұрын
So What Secured Credit card(s) You Recommended For Beginners to build credit That has ''No Annual Fees'' /No APR etc? Please List Them Thanks.
@Paticakesallday7 жыл бұрын
HI.. I'm trying to be clear as to what you are saying. After reading through the comments, it seems as though this is geared more towards unsecured cards is that correct? I only have secured cards... :(
@BeatTheBush7 жыл бұрын
You can do it for both unsecured and secured. For secured, you have to put more money in to get a higher limit. You might look to see if they will convert the secured to an unsecured card after you have a good history.
@notlehsbulb9227 жыл бұрын
What happens if you don't use a card? Does it go up or down or just stay the same?
@BeatTheBush7 жыл бұрын
It generally will stay about the same for a long time. Then the card issuer will notice its idle and cancel your card. Then your score will go down various amounts depending on the strength of your score.
@tylershelton50397 жыл бұрын
Does this hold true to a secured credit card, like the one through discover?
@BeatTheBush7 жыл бұрын
Not so much because your limit depends on how much cash is secured. You might get a chance to add money to your secured card to get a higher limit which would be a stepping stone to better credit.
@reinvent9056 жыл бұрын
i had a secured capital one card...it worked my limit went to 1k then switched to unsecured in 4 months on time pymnts
@latino19356 жыл бұрын
Micah when did you make your payments? On the due date or before the statement date? Did you have go tell them to switch to an unsecured card or did they switch it themselves?
@ynilupac6 жыл бұрын
Latino 19 i beleive cc payments are made before the due date. Speak with cc provider ask them those question they are therr to help.
@TyroneTorres6 жыл бұрын
Yes this works, I got a credit limit increase from $500 to 2,000 on my BoA secured card in 10months doing this method. And they returned my security deposit. Just pay in before the closing statement date not due date
@zacklazarus16847 жыл бұрын
As always your spot on with the correct information. You force the card issuer to increase your credit limit if you continue to use a high percentage. How long will it take the negative effect of this method to start fading away and getting your score back up?
@BeatTheBush7 жыл бұрын
Less than one billing cycle. The effects of a high usage percentage are only temporary so as soon as you have the credit cards report you used very little, it gets back to normal.
@christineparrish39606 жыл бұрын
Zack Lazarus i maxed all my cards out to make a final payment on my motorcycle .i was at a 665 it plummeted to 520 the next montg its been 2 months and im back at 641 .so i agree it went back up probably would of been faster if i paid them off by the end of that same month
@Bendl4107 жыл бұрын
Thanks a lot for your advice! By the way , I just wondering that if I could use my credit card to pay my phone bill or any kind of bills . I have $500 credit line. I really dont spend much every month , paying bills are most of my monthly activity with the credit card. So do you think if it would help to raise my credit ?
@BeatTheBush7 жыл бұрын
For most bills you can pay with your credit card. Some bills charge a fee which may be more or less than your cash back bonus so you have to weigh each case individually. Phone and internet usually lets you charge to a card with no fees. Think about adding rent, water, trash, gas, electricity, insurance, cable, and subscriptions to be charged to your credit card.
@Bendl4107 жыл бұрын
BeatTheBush ....thanks a lot . This is very helpful .
@BeatTheBush7 жыл бұрын
You got it. =D
@ThomasGonzalez91057 жыл бұрын
Question when you use up 95% of your credit limit at the end of the month do you pay it all back of what you used or do you make just minimum payments until you pay off what you used?
@BeatTheBush7 жыл бұрын
You pay ALL of it back. Never keep a balance.
@wendyfarris93036 жыл бұрын
BeatTheBush you say all sometimes, and all but $2.01....do you mean but $2.01?! thanks! -Wendy
@FirstNameLastName-cm5sr6 жыл бұрын
Wendy Farris Yea I have the same question.
@mattyKallday5 жыл бұрын
I thought keeping a small balance to pay off before the due date was a good thing?
@noname59056 жыл бұрын
Hi BeatTheBush, I've been watching your other videos and I want to make sure that I understand your method to improving a credit score. I currently have a secured credit card with a $300 limit. According to your method, my first objective should be to max out my credit card and pay it all off *before* the statement closing date. This will do two things: (1) boost my credit score as long as I continue to max it out and pay off before the statement closing date and (2) this will show my credit card lender that I need a higher credit limit, and typically they will give me a higher credit limit (say $1000). Once I get a card with a higher credit limit, I can discontinue the temporary boost trick (maxing and paying off before statement closing date) and instead I can simply spend what I need, and pay it off on time (by the due date as a opposed to before the statement closing date). Is that right? Just hoping for some clarification. Thanks for all of the informative videos.
@BeatTheBush6 жыл бұрын
Mostly correct. If you stop paying before the statement date after you reach $1000, you will see your score drop a bit since your utilization will still be pretty high. I.e. if you spend $500 on a $1000 limit. So you can indeed stop doing it just to be lazy. And only pay before the statement date when you actually will be using your credit score.
@noname59056 жыл бұрын
Thank you for clarifying :)
@BeatTheBush6 жыл бұрын
=D
@nopenope19087 жыл бұрын
how long it take to get more credit?
@BeatTheBush7 жыл бұрын
A few months, you can call in to ask.
@cainadan68047 жыл бұрын
Hi BeatTheBush! can you talk about best ways to make extra $$$$
@michaelbrotzman12326 жыл бұрын
is using less better on a secured credit card with a 300 limit
@numanrafi2143 жыл бұрын
Is it ok if you pay more than 30% of your credit card a month but pay the amount out early enough before it reaches to 30% altogether
@slayvid26207 жыл бұрын
is having interest a good thing? if i buy something thats $250 with a credit card, would paying it all off by the first bill be better than making the minimum payment? or maybe not in full by the first bill but more than minimum payment?
@BeatTheBush7 жыл бұрын
Yes, paying it off is much better because paying the interest is NEVER worth keeping a balance on the card. If you want to make it look active, simply spend a little bit on it each month and pay it off in full.
@slayvid26207 жыл бұрын
BeatTheBush right on, Thanks man. i appreciate you getting back to me.
@jessm25103 жыл бұрын
So can you do this as long as you pay it off before the due date ?
@jamqueen28533 жыл бұрын
Yes
@ineversamplemelodies29695 жыл бұрын
Should the balance be payed before the statement period ends or after? In other words, does this strategy work if there is no balance reported?
@Enzo-tg8uo3 жыл бұрын
So If I have a 500$ credit limit and my due date is on the 28th of every month.. should I pay the card on the 20th ? If I intend to use the whole 470$ out of the 500$?
@BeatTheBush3 жыл бұрын
You should pay it a day or two before the due date. Yes you can pay it even 8 days before the due date too.
@rhyan19865 жыл бұрын
Are you referring to secured cards??
@princessmeganelsaa66772 жыл бұрын
Just got approve $500 this morning 😳😊😊
@Derekjones855 жыл бұрын
how long approximately does it take for the creditors to notice this trend and issue an increase?
@angelicallyariana2 жыл бұрын
does anyone know if this works for a discover it student card?
@BeatTheBush2 жыл бұрын
It works for all cards.
@thedanieldrew66952 жыл бұрын
But Is it good when starting out with a credit cards with no credit history …
@BeatTheBush2 жыл бұрын
Yes. It does it quickly if you can afford to pay it off every month.
@seannthawj49375 жыл бұрын
This is a good idea, but you have to have money to pay off your creditors. Gotta have money to make credit, it aint free!
@hectormallari53147 жыл бұрын
+Beat The Bush its my first time to apply for a capitalone secure card, while activating the card, they cancelled my CC due to fraudulent activity. So they refunded my money. Recently i got a credit report of 614 only. My question is 1) would it affect my score if i apply for another secure credit card asap? Or do i need to wait a little while before applying for a new one?
@BeatTheBush7 жыл бұрын
Any application will cause a hard inquiry so you will affect it. For a secured card, you should be able to get one since the requirements are very low. I hesitate on telling you what to do because there's always a risk for one reason or another of not getting approved. Perhaps you can call capitalone and ask them to issue you another one since this 'fraudulent' activity is not you fault.
@hectormallari53147 жыл бұрын
BeatTheBush im pretty sure they will just put me back onto new application... 😥. So what should i do to start my credit card?
@BeatTheBush7 жыл бұрын
I'd say, don't guess. Try. =D
@BeatTheBush7 жыл бұрын
Here's why I give that advice: kzfaq.info/get/bejne/rtSceqyI35q9qZc.html
@MalcombMedia16 жыл бұрын
Is it good to use this method if your utilization is maxed out for all cards?
@pollito80036 жыл бұрын
Okay so say you have a secured card like Discover and the limit is $500. You would spend about 480 estimate, pay just 478 before the closing date and then pay off the rest lets say 2 days before the due date to increase the credit score correct? Or is it different with a secured card? Also, does that mean the "0%-9% Excellent/10%-29% Good/30%-49% Fair" etc label is false?
@patrickwilson49023 жыл бұрын
NOT IN "SECURE" CREDIT CARDS??? Because I have two secure credit cards and I keep it both under 9% of that $500.00... The man from Indianapolis, that's trying to build my credit score...607 credit score ..
@BeatTheBush3 жыл бұрын
Secure cards are harder because they wont increase your limit most the time without you putting in more deposit.
@BeatTheBush3 жыл бұрын
Secure cards are harder because they wont increase your limit most the time without you putting in more deposit.
@patrickwilson49023 жыл бұрын
DID IT THE WAY I SAID FOR ALMOST 6 MONTHS LATER TODAY, CREDIT SCORE 679.... I'LL BE AT 720 SOON...UNSECURED CREDIT CARDS HERE I COME...😷💯❤
@ryebread19807 жыл бұрын
Is it ok to pay your card off daily?
@BeatTheBush7 жыл бұрын
If you want. Some have reported paying it off very frequently and did not mention problems. It's a computer taking your payment after all so it doesn't really get annoyed and there are not requirements on maximum number of payments.
@ryebread19807 жыл бұрын
I was just wondering if not leaving a balance to the statement date would make it slower to increase my score and spending limit.
@BeatTheBush7 жыл бұрын
Correct. If you pay it off in tiny steps, it makes it harder to see that you a reaching a hard credit limit which keeps you from spending more. If you prove you can pay it off time after time, they will quickly increase your credit limit.
@PlayDohSockRopeTees5 жыл бұрын
hopefully my limit goes up soon my credit just went down 50 points !
@BeatTheBush5 жыл бұрын
It will fluctuate so do not worry too much. Do you know why it went down?
@PlayDohSockRopeTees5 жыл бұрын
@@BeatTheBush i looked on credit karma and it says credit utilization. i only have a $500 limit. this was the first month that i used it all. I've been trying to rebuild it slowly before watching your video. i used a little below $500 and it went from 668 to 621. should i continue?
@reanie387 жыл бұрын
Ok i have a account with fingerhut they gave me 180.00 limit. I only used 135.00 of it . i haven't received my first statement yet but it shows on my account that i have 0 credit available. What's the best way to handle this ? I'm trying to repair my credit my score is in the low 500's. Do i need to pay it off ?
@Naural20246 жыл бұрын
Question I have a 300 Credit card limit. I spent the 300 dollar and before my statement come, I put 250 back and before my due date I pay the 50 dollar. Is that ok?
@yungbandzjunior86512 жыл бұрын
So how much should i spend with 500 credit limit im just starting
@BeatTheBush2 жыл бұрын
To do it fast, 500. But pay it off then repeat for as much expenses you have in a month.
@tajisom32646 жыл бұрын
hey so i have a credit card secured with a limit of 200$ are you suggesting i max out the 200$ what does it mean not to carry over a balance? do i max the 200$ limit then pay back the 200$ a day before using on my statement im just confused i have been trying to figure this out all night because i'm actually wanting my score to go up rather down