Do THIS For An 800 Credit Score (5 Steps)

No video

Do THIS For An 800 Credit Score (5 Steps)

Рет қаралды 471,679

Күн бұрын

In this video, we’re talking about how to increase your credit score and the best tips on how to build credit to get you up to an 800 credit score! Now there’s a lot to know, so this credit score explained video is meant to serve as a guide to help you raise your credit score using credit cards, loans, or any other type of credit available to you.
So if you’re asking yourself how to improve your credit score, then this information should be useful because we’ll explain the 5 factors such as payment history and credit utilization that affect your score. By managing these factors, you can form the right habits with your credit cards and other credit that will lead you to an 800 credit score over time.
--- 💳 Learn More About The Best Credit Cards: danielbraun.me...
FOLLOW ME on Instagram: / _danbraun
Join The Credit Community Discord: danielbraun.me...
CHECK OUT SOME OF MY OTHER VIDEOS:
5 Lessons Credit Card Beginners NEED To Learn: • 5 Lessons Credit Card ...
Why I’ve Never Asked For A Credit Limit Increase: • Why I’ve Never Asked F...
4 Habits That RUIN Your Credit Score Without Realizing: • 4 Habits That Will RUI...
How to Get APPROVED For ANY Credit Card (3 Steps): • How to Get APPROVED Fo...
The 7 BEST Credit Cards of 2022: • The 7 BEST Credit Card...
What’s In My Wallet for MAX Value (Summer 2022): • What’s In My Wallet fo...
DISCLAIMER: Some of the card links and other products that appear on this website are from companies which Daniel Braun will earn an affiliate commission or referral bonus. Daniel Braun is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Daniel Braun is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.
More Videos From My Channel: / danielbraunofficial

Пікірлер: 859

@JK-td4hi Жыл бұрын

I’m 31. Have an 820 score. I make six figures. Drive a 10 yr old car. Have a paid off phone. Can afford to live alone but choose to live with my parents (im south Asian so more a cultural thing). It’s hard living within your means with all the temptation around you - especially if you compare yourself to others on social media. But trust me when I say there is no better life than just being debt free & comfortable. I know ppl making 200k+ and are still in loads of debt and have horrible credit, they all live beyond their means.

@Bigapplegirl81 Жыл бұрын

💪👏👏👏

@13eerus Жыл бұрын

31 still living with your parents is crazy

@RonDaG0at Жыл бұрын

@@13eerus I mean you have to see the bigger picture he’s 31 meaning his parents must be as twice older than him meaning he’s taking care of his parents as a good son👌

@mattmurdockthemanwithoutfear Жыл бұрын

Stfu you got 420 score and you make 2 figures

@user-tg8sr6tq9f Жыл бұрын

@@13eerus so the parents do not need to make appointment with their children for dinner .

@aishacansler8183 Жыл бұрын

You should pay BEFORE the billing cycle ends, the statement closing date. Keep your balances below 10 percent.

@Luxurious.shayyy Жыл бұрын

If the statement date is after the due date should be changed?

@GenDominion Жыл бұрын

How about pay it right away after i use my card 3days

@dd3v0n1 Жыл бұрын

If i use 60 dollars on a credit card, do i just pay that 60 dollars before the cycle ends ?

@dd3v0n1 Жыл бұрын

if the limit is 200 , would i have to pay the whole 200 or just the 60

@altstrange3663 Жыл бұрын

@@dd3v0n1 the limit is how much you have available, so if you have 200 bucks as the limit you can only use 200. And you only pay what you spent. So if you spent 60 bucks you only have to pay 60 bucks.

@donfisher6802 Жыл бұрын

Credit scores are bullshit, I had a 800 + score an paid a car loan off 2 years early, It dropped my score 100 points. I've had a mortgage 20 yrs but when I refinanced my credit score showed the time of my new refinance, not the 20 years I paid. The SYSTEM wants you INDEBT , not free of bills. If you owe no one, you are a responsible person but your score will fall.

@LeeLee-ux8gh Жыл бұрын

I AGREE!!👏🏾

@thebudgetinghomemaker3962 Жыл бұрын

I've been paying off my credit card debt this past month and so the lower credit utilization has boosted my credit score over 100 points in 30 days and over 207 points in 30 days.

@user-ps1ft1hy4j 6 ай бұрын

I think it must be because you were carrying a balance for a while, however substantial. I've been paying my cards off early every month and my score hasn't budged for at least a couple of years.

@guitarmusicislife 5 ай бұрын

Wish I was there at 43

@juju35888 Жыл бұрын

My score once reached 800 when I paid off a car… and then I dropped 30 points because that account closed 😅 now I’m working back towards that 800 with my credit cards

@ThinkOrginal Жыл бұрын

Imagine if the community was in charge of the score not the bank

@gman2913 5 ай бұрын

Why did the account close?

@TimesUp8888 4 ай бұрын

@gman2913 All loan accounts close when you pay them off. It's a great thing! Except the credit score.takes a.hit, but I never care about my credit score if I'm paying off a debt! :)

@mihaelafulga4290 4 ай бұрын

@@gman2913because the car LOAN was paid off. A loan is not revolving credit, meaning you don’t get to use those funds again by paying what you owe.

@schm147 4 ай бұрын

@@gman2913because that's what happens when you pay off a car. You no longer owe any money so there's no reason for the account to stay on there.

@jollama Жыл бұрын

Credit history is why it’s so difficult for most to reach a score of 800+

@Daniel_Braun Жыл бұрын

Yeah I think a lot of people can get there but the credit history part just takes time. But that's why having a 760 credit score is just as good too in most cases so that those with shorter credit histories can still get the benefits

@user-ps1ft1hy4j 6 ай бұрын

@@Daniel_Braun Perfect payment record but stuck at 755 because I basically shunned credit cards and had no credit record. I only had two credit cards, paid religiously before due every month. Finally decided to get one more .. and I hope that consistent payment on time will help boost me a little higher. Funny how being responsible can make you look like a credit risk!

@charlesashworth9850 6 ай бұрын

@@Daniel_Braun The Problem is that credit history does drop off. I've had a mortgage in my past (25 years ago), but of course, paid off the mortgage and within 6 years they dropped off. So the history actually isnt accurate.

@JakeKoenig 2 ай бұрын

@@charlesashworth9850 That's where the revolving accounts come in handy. I have eleven different types of revolving accounts that I keep at a $0 balance and only use one credit card, so I always have under a 1% utilization on around 160k of available credit. That's as good as any mortgage or car loan. I own my house and my vehicles so those don't help my credit anymore, but I have an 807-818 score (depending on the source) with only a 12-year credit history. Credit diversity and revolving utilization are the biggest factors (after the obvious factor of making payments on time). The credit history length isn't a big deal once you get past 5 years.

@superjeffstanton Ай бұрын

@@charlesashworth9850 that's why credit cards and 30 mortgage payments matter

@chrislundy7017 Жыл бұрын

Agree 2 yrs ago I started with 523 score. Now it’s 758

@derrickgentle7174 7 ай бұрын

After having credit cards for 15 years, started off with 780, dropped to 648 in 2020 and back up to 767, still not bad.

@Tristin471 5 ай бұрын

Not bad, at all!

@doriantrm 4 ай бұрын

How did you start with 780?? I started recently with 680

@totopo5226 4 ай бұрын

@@doriantrmI started with 620 lmao

@TheMFStudios Жыл бұрын

Ive raised mine like 20 points in the last year and thats too slow. I honestly needed this vid. Good job!

@Daniel_Braun Жыл бұрын

Thanks so much for watching and glad to hear the video was useful! Best of luck with continuing to raise your score, these steps definitely worked for me!

@earnonmyterms66 Жыл бұрын

Here’s how I never forget to make a payment on time. I pay ALL of my monthly bills (cars, credit cards, rent, utilities) on the last Friday of every month. Then every week (I’m paid weekly) I accrue 1/4 of each payment that I will make next month. I also divide my car insurance 6 month premium by 26 and put that money away as well. I keep a second checking account that I call a bill pay / escrow account and my checkbook register keeps track of what I transfer over there by category. Each Friday, I review each credit card app and put whatever I spent into the escrow account (no, I do not carry balances, each card paid off each month)

@arrikoswald3017 7 ай бұрын

Take care of your student loan! Mine exceeds 18yrs and offsets some of my relatively newer accounts. Trust me, it helps.

@streetwork5069 Жыл бұрын

I’m totally new with credit,seven months actually and achieved a 695..I’m about to apply for another card..thanks for the tips!

@sharontabor7718 Жыл бұрын

Wait a year before applying for another card.

@aldenz776 Жыл бұрын

@@sharontabor7718 you don't need to and it's beneficial in the long run to combine your oldest cards together

@ykGibzei Жыл бұрын

Just got approved for my first intermediate card which is the chase sapphire preferred card with a 5k credit limit. I also have the chase freeedom unlimited which is like my everyday use. I started off with the chase freedom student card and got my credit score to about 750 in 2 years.

@ItsMeCJ Жыл бұрын

There’s no shortcut for step #3 as you said. It’s important to get started early. I didn’t get my first credit card until I was 23 due to listening to terrible advice “credit cards are bad!” Great video as always Daniel.

@David-rz4vc Жыл бұрын

Credit cards are bad until u use them responsibly.

@docsays Жыл бұрын

@@David-rz4vc - or they’re good until you use them irresponsibly.

@MikeyRamirezTV Жыл бұрын

Same with me brotha. I’m 29 and barely got my first credit card last year. I’m on my 2nd one as of 2 months ago with the CFF.. hoping to build that trifecta!

@Daniel_Braun Жыл бұрын

Absolutely, I never saw the point to a credit card before because I figured why not just use my debit card if the cash was already in my bank account to pay for something? Glad we all got started eventually though, better late than never! Thanks for watching CJ 👍

@ItsMeCJ Жыл бұрын

@@David-rz4vc very true!

@rebeccastone8732 Жыл бұрын

until your credit card company cancels one of your cards because they coerced you into getting a new card so you stopped using the old one. They tell you it won't affect your score at all, but it did, it dropped it about 70 points immediately. so beware of having many credit cards cause if you don't use them all and keep track of them when they get canceled it affects your score.

@timelessmusicfamilymusic9175 Жыл бұрын

Since I was young, I have always treated a zero balance as $1,000, the lowest balance. This means my checking account will never go down below that amount. If it does, I won't be penalized by my bank with bounce checks &/or unwanted bank fees.

@sickmansgas483 2 ай бұрын

If you make payments before the statement, you may not get your points or cash back. The only card I know of that gives you cash back even if you pay before the statement hits is the Apple Card.

@RUSHISHWAR1 Жыл бұрын

When i paid in full my fico score dropped 16 points

@OC2OMAHA Жыл бұрын

I have never missed a payment but my score recently dropped about 25pts after getting approved for an Amazon Visa and Store card. That really caught me by surprise because I am great in all other areas like credit utilization, full on time monthly payments, etc. I hope it jumps back up soon because I am looking to purchase a house in Spring of next year. I won't be applying for any new cards. Oh, and I accidentally closed one of my oldest credit cards, which I'm sure didn't help.

@dylanattix2765 Жыл бұрын

You'll easily get that back within a year and then some, as long as you follow the steps given in this video. Hard inquiries stay on your report for two years but their impact almost never survives the first year.

@OC2OMAHA Жыл бұрын

@@dylanattix2765 good to know. 👍🏾

@DemonicEmbrace Жыл бұрын

Same here I applied for a Apple Card and my score dropped about the same. My advice if your looking to finance a car or home don’t apply for anything or do any harm to your credit score 1-2 years before buying anything

@altstrange3663 Жыл бұрын

Whenever you apply for something that pulls your credit you will see a drop. My first Credit card dropped my score about 30 something points but it’s built back up within a year. And yeah if you wanna get a car or something try to avoid doing that at the same time as applying for a card or really applying for anything that pulls your credit.

@teesmith7972 Жыл бұрын

If you're carrying any balances on your credit cards, make extra payments. When the lower utilization reports that will raise your score. Your score will bounce back ( in a few months)from adding the new card.

@thedufloth Жыл бұрын

Hey Daniel, love your videos!! Congrats. Could you please consider making a video about how Fico score differs with the Vantage score? Thanks

@Daniel_Braun Жыл бұрын

Hey Maya, thanks so much for watching my video - glad to hear you're enjoying them! Yeah I can definitely talk about something that like in a future video! The core pieces that make them up are generally the same but weighed differently or looked at in different ways - but this video should be a good guide to an credit scoring model

@thedufloth Жыл бұрын

@@Daniel_Braun I’ll really appreciate it. 😊 Thanks again Daniel!

@Vopadevas Жыл бұрын

Thank you for this help. My bank and mortgage company absolutely killed my credit through an error on their part that they wouldn't fix and I'm still recovering. A couple more years of on-time payments and I'll be back in the 700+ club. (When my bank account ran low the bank recalled my mortgage payment, something they should NOT be able to do, so my on-time mortgage payment suddenly became late. And this happened for a year!)

@APennyPinchersGuide Жыл бұрын

Above everything else, maintaining on time payments is the key to raising your credit

@sentinurse Жыл бұрын

Just broke the 740 wall. My target now is to get past 760. 😊

@aaronjones5049 Жыл бұрын

How did you break the wall?

@Daniel_Braun Жыл бұрын

Nice, congrats John! 👍 Thanks for watching the video too!

@datnohi8612 Жыл бұрын

I'm in the 800's I always make sure I have money in the bank to cover what I use on credit cards therefore I always have an income source such as a job...they are a great way to pay down debt and save money at the same time due to the low monthly payment and 0 interest balance transfer offers and reward points or cash back

@C9ve 2 ай бұрын

What credit card do u have, if u don’t mind me asking!

@datnohi8612 2 ай бұрын

@C9ve I have several, I paid the remaining balance of my home off with the chase freedom card, they did a balance transfer to my bank 10k and I used it towards my mortgage, I'm currently requesting a balance transfer from my Fidelity card to pay down my car currently, this is 0 interest balance transfer but I do get charged a fee

@Dividendology Жыл бұрын

Great tips Daniel!!

@Daniel_Braun Жыл бұрын

Thanks, appreciate it @Dividendology !

@joehoisington7761 Жыл бұрын

I'm in the 790's now after a seven year rebuild to repair two decades of poor choices. Though, if I'm to be honest, most of the rebuild was patiently waiting for my student loan default late payments to disappear. I did use that time to get a couple credit lines in the works and once the late payments dropped in March of this year, my Fico's went from 690 to 785. In the seven months since then I've accumulated almost $30k in credit lines over three cards. The most recent one hasn't posted yet so I'm expecting a temporary drop... but I feel like I'll soon be able to say I've joined the 800-club.

@LlLnig Жыл бұрын

Congrats

@cyrilledomaoal410 Ай бұрын

Did you pay off all your student loans before reaching 800 credits?

@EW-cq6yv Жыл бұрын

Another excellent video. One point I would make is that if you’re in the high 700s it’s basically the same as being in the 800s. Lenders tend to look at you the same. Every point you made is valid to achieve a high credit score. Thanks as always!

@Psi-Storm Жыл бұрын

There is no safe way to get the last 50 points as a young person, the points from average age are not achievable on your own. There are tricks with becoming authorized user of your parents cards and inheriting the age, but if they aren't good at managing credit, they can also tank your score.

@Daniel_Braun Жыл бұрын

Thanks so much! Yeah agreed, I look at it the same way that high 700s and 800 is the same in terms of the benefits. That's where I've been for the past couple of years so getting above 800 will be mostly a matter of time as my age of credit grows! Thanks again 👍

@MrCbell57 Жыл бұрын

What good is having credit if the interest rate is so high you can’t ever use the cards? I take advantage of zero interest offers yet once these expire it’s back to not being able to charge much due to having to pay all the debt back in 30 days to ensure interest doesn’t cost you an arm and a leg. What good is credit if you can’t afford to pay it back instantly? It takes having money to be able to utilize credit in order to just borrow $5000 until next month. If you do t have the money to even pay back $200 what good is being able to borrow $200?

@deatondavid 4 ай бұрын

I finally got my credit score to 680 and it stayed there for a while. Paid off cards off and applied for a card from discover and they gave me $9,000. I was stunned. All that drove my score to 750😊

@dennissvitak148 Жыл бұрын

I purchased a new car back in April. My credit score was 882. This is the highest that the F&I guy had ever seen. I traded in my Subaru Outback, 2017 model, with the 3.6R engine, and got $27,500 for it. All of it equity. I gave the dealership a cashier's check for $7,700, and paid cash for a new Hyundai Tucson. Gas mileage went from 21 to 33, and I have a new car with a five year bumper to bumper warranty, and with free maintenance. THAT, my friends, is how you get to a credit score of 882. I could easily have afforded a 70k BMW or Lexus..but I CHOOSE to live below my means.

@maysmac Жыл бұрын

Wow i didn't expect that to happen at 1:05 haha. Lets take a moment and apperciate all the hard work he puts into the content for us! Thanks for the videos.

@amandasunshine2 Жыл бұрын

Wtf are you talking about

@BiffcheeseSpinoccoli Жыл бұрын

Man. This is GREAT info…when you have a consistent income. When pay fluctuates (or sometimes doesn’t come at all), sometimes the game of juggling begins.

@nbailey9391 4 ай бұрын

Good info. For the majority of my life I did not get auto loans, home loans, credit cards because I could pay cash for most things. Now at 46 I have been trying to build my score for the past 3 years. I am stuck at 750-760 with 5 credit cards, 0% utilization because I pay them all off before statement time. I guess only time will tell if I can get to 800 with this strategy. I do not drive so I do not need a car as I travel 99% of the time. I paid off my last car loan in 2005.

@steezyblu Жыл бұрын

Careful with department store credit cards. I have had three department store credit cards close in one year and that affected my credit score. Another company bought their credit card product, and two switched from Mastercard to Visa, the other one switched from Visa to Mastercard. The credit bureau listed them as closed accounts on my report which has a negative impact on your credit score, especially if it happens in the same year. If that happens to you, your able to dispute that with the bureau and hopefully your score goes up.

@queerdor Жыл бұрын

Which cards/stores where they?

@MyBluebonnet Жыл бұрын

And to add, department credit cards usually have a higher interest rate.

@rasheemthebestfirstone3274 Жыл бұрын

Which stores

@johnpaulbacon8320 Жыл бұрын

Nice video on the topic of Credit Cards and related scores. With myself almost qualifying to be a "Senior" Citizen - being out of school since graduation in 1990 , I would hope there are Classes in school now covering the this topic to help the younger generations more so then my generation or older.

@kamaka07 Жыл бұрын

Even tho it'll cost you a few dollars over time consider a card like grow credit and add a monthly subscription to it. Once the balance is paid monthly the payment get reported to all three bureus. Good way for younger people to establish age of credit band raise scores.

@nicktucker3437 Жыл бұрын

As someone with a score in the 830s I can verify these factors are accurate, of course I benefit from having real long credit history at this point. on time payment history is certainly important.

@LuisHernandez-nb4qo Жыл бұрын

I’m just got me my first two credit cards to months ago and I’ve been using them correctly I got 690 credit score

@C9ve 2 ай бұрын

What’s it at now?

@zzzddd7 Жыл бұрын

I never got Credit education when I was younger. No one helped on explained why....decades later.....Got 1st card almost 3 yrs ago. Missed one payment only, got 2 more cards 9 months and 6 months. Never missed another payment, sometimes pay twice a month on card, got a $500 loan (paid off on time) which lowered the score over a year ago. I'm sitting at 707. CCU at 15%. Focusing on CCU at 10% or under next month.

@tee_andii Жыл бұрын

I wish I had learned this information the first time the way that you explained it in this video. Excellent explanation!! 👍

@whitehorsethunder3494 Жыл бұрын

Thank you 🙏 ❤ for sharing about credit cards 💳 payment 😊

@arkadihughes4893 Жыл бұрын

I've spent my whole life up until now avoiding debt and credit at all costs. I'm 26 now and really hitting myself for being scared of debt and not just doing some research on how to use it.

@Herobrine-bk3my Жыл бұрын

Spot on! I destroyed my credit when I was 26 back in 2010. I went from a 757 credit score to a 580. Took a lot of research, hard work, and time, but I now have a 828 FICO score. *Top phase resolution* is exactly what you need to do to hit a 800 credit score.

@Herobrine-bk3my Жыл бұрын

You can reach them out via google they’re best out there *Top phase resolution* They helped me rebuilt my credit a lot

@Herobrine-bk3my Жыл бұрын

Those team are top Notch check them out

@arkadihughes4893 Жыл бұрын

@@Herobrine-bk3my thank you!

@SpencerJohnsonOfficial Жыл бұрын

It all starts with step #1!! I guess that's an obvious statement, but it's honestly so important to get that part right. Setting up those systems to make sure you never miss a payment is key. This is something I recently had to do with my mom actually. She was still paying all of her bills manually after she received the paper statement in the mail which was crazy to me. Got her all set up on autopay now and it has already really reduced her stress levels!! Thanks for another great video Daniel! I'm excited to join the 800 club down the line.

@sandraschaefer7456 10 ай бұрын

Nice❤I would say I don't know how I find you on KZfaq, but I know better. My husband and I have been in prayer so that we get our credit scores up and

@sandraschaefer7456 10 ай бұрын

our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to Gl o bal te ch cre di ts olu t i o n ❤ or g .l thank God for this wisdom. Bless you.

@k2000kidd1 4 ай бұрын

Took a personal loan to pay down the credit cards with a better rate on the loan and Kept cards below 5% across all three of them. I'm paying on time with the personal loans pushed me to 812. Car loan Installment loans or a mortgage is the secret sauce.

@deveng7766 Жыл бұрын

Excellent video I have almost 8 hundred score but still learned some things today I wasn’t sure of thanks

@michaelmccusker7265 Жыл бұрын

Great video but a few suggestions. First is use a monitoring system like Credit Karma which is free and you can check as often as you want. From this you can find out when your accounts send info to the credit companies. For each account you can find out when the info is reported so you get your account balance as low as possible that day. Second finding someone with great credit that will add you as an authorized user. This is the quickest way to add time to your credit card history as well as lower your utilization.

@lovly2cu725 Жыл бұрын

BUT KEEP IN MIND THE SCORES IN CREDIT KARMA ARE NOT THE SAME AS FICO SCORES

@fgc_ngoni615d9 Жыл бұрын

This is very useful information, especially coming from a country where using credit cards is not common. It actually taught me discipline lol. I do not want to go on a spending spree and forget about the consequences. thanks a lot.

@puravida5683 Жыл бұрын

I am an expat living abroad in various countries, that could care less about credit scores! However, my U.S. credit score is 844. Because I use my U.S. credit cards abroad, with no foreign transaction fees.

@lovly2cu725 Жыл бұрын

HOW DOES USING THEM ABROAD IMPACT YOUR FICO WHEN IT IS UR UTILIZATION?

@jasoneno808 6 ай бұрын

#3 Become an authorized user on an old card of friend or family. But careful as the balance at the statement end date effects your credit utilization. You want an unused card or one that is paid off in full before the statement end date.

@KevinWu787 Жыл бұрын

Leaving autopay on definitely helps you avoid those late fees.

@japrtorres Жыл бұрын

Great insights. My score just went up again after getting CSP few months ago

@ElSmiley1000 Жыл бұрын

I find that the more I learn about credit cards and how they work the easier they become to use. Basically just know your salary and only spend what you make and just pay it back when you get paid and you should be fine. It’s when you spend more than what you make where people start to get into trouble. Basically just use a regular credit card as if it was a secured and you’ll be fine

@jameragivens9655 9 ай бұрын

THANK YOU I immediately implemented

@FreedomNurse Жыл бұрын

Crazy thing is while gaining point you get a little bit when losing score you drop fast.

@makingmodernmen8843 Жыл бұрын

Yes and no. I have seen my scores go up 50+ points in a week after making a large payment and bringing utilization below 20%

@bagery Жыл бұрын

Maybe 800 is not so bad to strive for. I watched a software developer speak of her move just the other day and how she was denied an apartment with a high 700 score. No doubt, these must have been highly sought after apartments. But it seems it depends on one's lifestyle if those extra points matter or not. Personally, I don't see myself ever wanting to live in a home that needs an excellent score whether I have the score or not. On the other hand, I also don't want to be denied a place I really want either.

@Daniel_Braun Жыл бұрын

Interesting that she was denied with a high 700 score - maybe there was still an older missed payment on it that the landlord didn't like? But as long as you aim for a score of 760 or above then that usually sets you up for success! 800 is a good long term goal to strive for as credit history grows as well. Thanks for watching and commenting @bagery 👍

@Moi_81 Жыл бұрын

That lady might have had bad rental history.

@lovly2cu725 Жыл бұрын

IF YOU GET A LOAN FOR A HOUSE OR CAR YOU DO WANT A HIGH CREDIT SCORE. OTHERWISE YOUR INTEREST RATE & MONTHLY PAYMENT WILL BE HIGHER.

@tyhou229 Жыл бұрын

Been enjoying the videos lately. Although I want you to grow your business, a huge part of me coming back is not having to hear “this video is sponsored by…”

@Daniel_Braun Жыл бұрын

Love to hear that you've been enjoying my videos, thanks so much for watching! Yeah I'll be honest I'm very conscious of trying to avoid that "this video is sponsored by" feeling. I've done a few and will do more in the future because it helps to grow the business like you said - but I appreciate when other channels just offer value more and more so that's what I try to do. I'm breaking down my income in a next video and I'm gonna talk about how other income streams are doing well and I don't spend much money, so I'm able to say no to sponsorships. That being said I have certain companies in mind that I will 100% work with if they reach out to me like Wealthfront, SoFi, etc because I like and use their products myself so I'd talk about them even if they weren't paying me haha. But thanks for watching and supporting my channel because that makes all of my content possible! 👍

@sebastiangomez4824 Жыл бұрын

Accidentally missed a payment on a TD account, my automatic payment was set to a bank account that I stopped using 😬 no late payment on my credit report but they dropped my credit limit by 75% and my remaining balance was over that, causing my utilization to skyrocket. My score dropped 26 points but I called them and they were nice about it and gave me my old credit limit back. Hoping my credit score recovers from that one.

@robertclubs9908 Жыл бұрын

Awesome information. Thanks

@chucalissa9231 Жыл бұрын

A mouthful 🗣️for sure ,thanks 👍

@lizzylizh Жыл бұрын

Such a really informative video! Thank you!!

@matt46142 Жыл бұрын

My how times have changed. With a 800 credit score you get slapped with fees and with a sub 675 score you get discounted interest rates on mortgages

@MattWelterOfficial Жыл бұрын

Yeah always ensuring that you pay off your statement balance in full every month is super key, due to how much it can really cause some damage to your credit score. Definitely a good idea as you mentioned to put some systems in place like Autopay, to ensure that you don't miss any payments. Having some credit utilization but also keeping it minimal is also a great way on the path to a 800 Credit Score! Great video as always Daniel!

@maxpowr90 Жыл бұрын

I try to have my CCs all due on the same date to make it easier.

@MattWelterOfficial Жыл бұрын

@@maxpowr90 That's a great way to do it!

@Daniel_Braun Жыл бұрын

Thanks Matt, appreciate it! Yeah all good things to consider when it comes to raising a credit score - I know doing all of that has helped me a ton!

@princesskkay221 Жыл бұрын

@@maxpowr90 I set mine all to autopsy so I don’t have to think about it

@davemartinez4143 Жыл бұрын

Every week I check my charges on my cards. I check my balances on my accounts. And I make a payment on my credit cards and charge cards. I don't think I've ever been above a 3% utilization. I have 13 cards two checking accounts and three savings accounts. It takes me less than an hour to do all this. And I'm an old guy that is basically computer illiterate. If I can do it I believe anybody can. Especially you younger people who are very smart and savvy. I don't remember the last time my credit score was below 800.

@sandranicolemartinez2824 Жыл бұрын

Had to pause this video, while I went and paid off all of my credit cards. I thought leaving a small amount due, helped make me look good. Pffft. Thanks for clearing that up!

@frankcutronijr 11 ай бұрын

I liked you mentioning a no annual fee card to keep for a long credit history.

@josephjoby718 10 ай бұрын

Hi you need assistance?

@josephjoby718 10 ай бұрын

I would say I don’t know how I find you on KZfaq, but I know better. My husband and I have been in prayer so that we get our credit scores up and our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to *Web backdoors🕳️org* . I thank God for this wisdom. Bless you.

@josephjoby718 10 ай бұрын

You can also need to look their name up to see their website

@Jordan-sq1oo Жыл бұрын

You da man dan

@Daniel_Braun Жыл бұрын

Thanks Jordan, appreciate all of your support here!! 👍

@mistermyself1128 3 ай бұрын

People gwt credit to use it. Ustilize is as you wish. Just make sure to pay it down when you ask for more credit. It doesnt matter when you arent asking for new credit.

@JuanRodriguez-se9hn Жыл бұрын

Daniel funny enough my new American Express card is due October 21st like the example you used in the video, and that’s my birthday too

@Daniel_Braun Жыл бұрын

Happy early birthday Juan haha! Funny I just picked that random date - thanks for watching! 👍

@chafrajayfra32 Жыл бұрын

I have older cards but they close them because I haven’t used them which has affected my credit history. I e had credit for thirty years but due to that my history says ten years.

@connor_96 Жыл бұрын

You do a great job of balancing the basics with the more advanced strategies - and you deliver both in digestible ways. Great content

@Daniel_Braun Жыл бұрын

Thanks so much for saying that Connor, I really appreciate it! That's my goal with the videos so it's great to hear that 👍

@rndargis0 Жыл бұрын

I only have one credit card that I’ve had for over 7 years now that I’ve treated as a debit card. Because my debit card charge you after 10 transactions per months.I’ve always pay in full a few days before they report to the credit bureau.I also have one phone bill that was opened and then closed. I have one score that is maxed out at 790 because I don’t have any mortgage, and the other one that’s in the 800+ because I have a clean history.

@anthonygardner400 Жыл бұрын

Very solid information for anyone learning the ropes. Nice job! Enjoy your weekend.

@Daniel_Braun Жыл бұрын

Thanks so much Anthony, appreciate it as always! Yeah back to the basics with this video but definitely good stuff for any beginners out there. Hope you had a great weekend!

@anthonygardner400 Жыл бұрын

@@Daniel_Braun Thanks. I did. Took in my share of football and enjoyed a nice dinner with friends. Hope you did too.

@Daniel_Braun Жыл бұрын

@@anthonygardner400 Nice! Pretty much same here - Eagles are off to a 4-0 start to the season so I'm happy haha

@anthonygardner400 Жыл бұрын

@@Daniel_Braun Haha. That hasn’t happened often to them. 😉 Vikings are doing ok, but even their wins have been a little shaky. We’ll see how they do as the season moves on.

@Daniel_Braun Жыл бұрын

@@anthonygardner400 Yeah should be a good season for both of our teams! Eagles need to play some better competition so we'll see. Looking forward to how the year plays out!

@portialewisgray Жыл бұрын

- Thank you for these very informative videos, Daniel! I have been working on rebuilding my credit, and trying to figure out how to use and pay my credit cards off to build my score. So I appreciate you for taking the time to explain the best ways to do just that in your videos. You are a gem. #NewSubscriber 💚💚

@christiebussey1285 6 ай бұрын

@Daniel Braun, Thanks so much for these tips! 🥰 I have one question please, under the catagory Credit Factors ,(Transunion): They are all green/excellent except the one (red) and that states - Total Accounts: 10 needs work/low impact. Why does it need work? Pmt history 100%, Utilization 21%, age over 11yrs, Derogatory Remarks are at 0 and hard inquires 0. Vantage is 6 points shy of 800. Thanks in advance for your response!!

@allofhelena5096 4 ай бұрын

Thank you! Just subscribed and I'm two videos in now :)

@MarioGonzalez-254 Жыл бұрын

I have 3 credit cards with a 16,000 total balance. I came here to see if I should just pay it all off or just pay like 70-80% of it off because I thought I needed to show the credit card companies i still have a small balance. I can pay it all off tomorrow. I just want to make sure what Im doing is going to give me the biggest jump in my scores

@rickybobby9885 Жыл бұрын

Pay off your bills in full at the end of every month. Dont carry a balance month to month and have interest charged to your account balances

@stephancunningham3072 Жыл бұрын

I have a delinquency of 60 to 90 days, I paid it off a long time ago, I called the company recently and they took it off for me, but of course it will take 30-45 days, my credit is slowly recovering.

@jaevonhaywood Жыл бұрын

Just the other day, my Equifax account dropped by 10 points, and I found out my scorecard loses points after individual card 8.9-10% utilization (985/10000)

@MrBosskobe24 Жыл бұрын

Good thing that KZfaq has the option of playback speed 🤣 but thank for your information 💪

@AR-ln7ln Жыл бұрын

I've never missed a payment, but it also meant checking all credit cards and their due dates several times a month - a lot of time wasted. I always wondered total credit vs individual cards and their utilization.

@Herobrine-bk3my Жыл бұрын

You can reach them out via google they’re best out there *Top phase resolution* They helped me rebuilt my credit a lot

@Herobrine-bk3my Жыл бұрын

Those team are top Notch check them out

@ProCSRman 3 ай бұрын

I’m stuck between 760-780. Every simulator I try only gets me over 800 if I increase my credit limits by 30k.

@EricLooksLost Жыл бұрын

I didn’t know that credit utilization also accounts for maxed out cards lol I had a 750 opened a new CC and a few months later, put my entire Invisalign treatment on it, maxed it out. Dropped my score to 700. But since it’s a new card it has 0% into apr. I’m not paying a dime in interest and it’s almost paid off! All that to say let your good credit work for you!!

@The_DropTV Жыл бұрын

You can spend however much you like just pay beck before due date and or statement closing date and don’t spend more you can’t pay back within that time

@Daniel_Braun Жыл бұрын

Exactly, my rule is to treat credit cards like a debit card and only use them if you already have the cash on hand to pay them off on time and in full every single month!

@chrisv4920 Жыл бұрын

Cool, so because of my new credit cards that my credit age decreased, i learned something new, thanks

@KivysAptApprovals Жыл бұрын

Great video thank you so much. I will definitely use these tips, along with my documents from Fresh Documents, they boosted my credit like crazyyy lol

@Yarmox Жыл бұрын

Literally just get a mortgage and pay it off early, it pushes your score up over time. But you have to be consistent.

@TM-li7bl Жыл бұрын

Believe me, my husband and I both have highest credit scores and we are in our 60s…., We don’t need credit anymore!!! Not sure if I agree with you on this issue….,

@HashtagRecked Жыл бұрын

Went from 590 to around 755 at 19 in a year because of my 24 on time payments for my 2 credit cards and 12 on time payments for my car loan

@Herobrine-bk3my Жыл бұрын

You can reach them out via google they’re best out there *Top phase resolution* They helped me rebuilt my credit a lot

@Herobrine-bk3my Жыл бұрын

Those team are top Notch check them out

@Michelle-pn9xt Жыл бұрын

19 what?

@HashtagRecked Жыл бұрын

@@Michelle-pn9xt years old

@shortstraw4 Жыл бұрын

I had an 805 and paid off 8k in debt and my score dropped to 799. What a joke

@jerrylundegaard2592 Ай бұрын

That drop is irrelevant and is short term likely caused by something other than you paying off that debt. Credit scores fluctuate on a daily basis.

@graysonhill1366 Жыл бұрын

Should I try to reopen an authorized user card if it’s the oldest account I have? I misunderstood how an authorized card works and thought I didn’t have to buy things with it in order to keep the sub account open.

@edwardstrishock8541 Жыл бұрын

The last time I had a credit card, I paid the amount off, to get a letter the next month, stating that I was not a valued customer, and they canceled my account

@nathanielpark2471 7 ай бұрын

shout out to all my ladies with bad credit and over achievers trying to hit that high score

@halilibrahimzeren Жыл бұрын

continuously helped me like you have. I thank God for your presence in my life. Thanks a lot!!!

@caithangkuni Жыл бұрын

Awesome thank you for this 👍

@Daniel_Braun Жыл бұрын

No problem, thank you so much for watching! 👍

@KevinnPOV Жыл бұрын

great video daniel love the clear explanation, a great refresher to watch 🤙🏼😄

@Daniel_Braun Жыл бұрын

Thanks @OC Lex ! Always good to have a little refresher haha and hopefully will be a useful video any beginners that watch! Appreciate the support as always 👍

@iwantmoretofu Жыл бұрын

that grey shirt is sick. where did you get that

@janezhao3105 6 ай бұрын

So you should never close a credit card account if there is not annual fee even if you don’t use it?

@AnthonySmith-gx9bs Жыл бұрын

I have done all this for a decade and my credit fluctuates from 810 to 795 throughout the year. It is literally is a black box that makes no sense.

@asianriceballz Жыл бұрын

Great video Daniel! There's a lot of misconstrue within utilization and you did an amazing job explaining. I tell people you can spend more than 30% limit on your credit cards as long as you pay a majority of it off immediately so you have a low utilization percentage before closing statement due dates. I prefer you to spend no more than 30% throughout the month but I understand some things happen and life isn't perfect. Magic # is keeping your balance at 1-5% utilization rate before due date/statement closing so your credit score can skyrocket 🙌 and if you have multiple credit cards, it expedites the process I did this with my Chase Trifecta, Amex Trifecta, Citi Custom & Citi Costco card and my score increased from 760 to 800 in ~6 months. Keep up the great content Daniel!!

@Daniel_Braun Жыл бұрын

Awesome to hear that managing your utilization like that increased your score so much in such a short period of time! Yeah I feel like managing utilization is one of the quickest proven ways to increase your credit score, so 1-5% is a great range to be in. And yeah, the more accounts the better like that. Thanks as always for watching and commenting - appreciate the support! 👍

@lovly2cu725 Жыл бұрын

THE UTILIZATION FORMULA ALSO APPLIES PER CARD

@dannymartinez3600 Ай бұрын

I’m between 733-770 depending on agency. But here’e my challange. My credit history is short 1.5 years. I want to add a card but I’m concerned about how much of a ding that will be. Because I’m not only adding a hard pull but also shortening my avg account length. But I guess I should ask to the credit agencies care another difference between a 18 month and 9 months? What’s the maximum credit score hit I’ll take applying??

@aidenoconnor3774 Жыл бұрын

Late payments on student loans because I was hospitalized massacred my score. Because they don’t consolidate your student loans and just report two balances. They ask for one payment but my loans are listed in 12 lines so being late on “one payment” reports 12 late payments 🤦‍♂️

@flyryde Жыл бұрын

I have an old account I haven’t used in like 9-10 years with a jeweler. I still see it as available credit I never use. Credit limit is like 1500 I think. If I buy some jewelry for my lady for Christmas, you think that’ll benefit my credit score by showing activity on that old account?

@Psi-Storm Жыл бұрын

No, it's just one more positive payment. If you spend too much it would increase your average usage, which tanks your score. But maybe they will cancel your credit if you don't use it at all, which would be bad for your average credit length. Maybe pay a watch battery replacement or some not so expensive ear rings with it? :)

@Daniel_Braun Жыл бұрын

Yeah I agree with @Psi Storm - if you use that credit and pay it off on time then that's just another positive payment. It will show that you're using the credit, but I would be careful if the limit is only $1,500 because if you buy something that's too expensive relative to that limit and that utilization is too high and gets reported on your statement closing date then it could drop your score by a bit. So if you use that card then maybe just pay off all or almost all by the statement closing date so that utilization will be low kind of like I talked about in this video. So yeah you can use it but I don't think it's boost your score much. Hope that helps!

@b3rncul Жыл бұрын

Their is two things going on. Not using your card is the best way to raise your credit. You owe nothing so you paid nothing = on time payment. You just run the risk of them closing it. Which is bad. You would use your card only to take advantage of the benefits.

@Psi-Storm Жыл бұрын

@@b3rncul That is wrong. You get no positive payment reports for cards that you didn't use. If you don't use a new card, you shouldn't have gotten it, because it reduces your average credit history length.

@bobithpopit3193 Жыл бұрын

@@Psi-Storm I got a card that I won’t be using very often so I kinda regret it. It’s my second card, and it’s roughly 4 months old. Do you think it’s okay to close it?