Yes! Most schools still aren’t talking about finances and how to handle them!

@@wendysgobbo8242 it

I’m happy for you.

Nice bro but damn sucks to think of all the things you could’ve done if you weren’t in debt at 18

Congratulations!!

proud of you and really hoping this for myself in the near future!

Congrats!

My mother did this with me and my sister

It is illegal, but who sends their mom in jail?

@@deathbyweightsco.6056 who messes with their kid's financial future like that?

@sindy ortiz tons of bad parents lol. But prison and finances are completely different.

@@deathbyweightsco.6056 no they should be imprisoned…its fraud no matter if that’s their child or not and a complete disregard for the child’s future

Quantifying how exploitable someone is? It’s kind of our thing.

Because no one saves and everyone consumes.

Wdym bruh, Schufa is just as bad

@@SeroAbi If you ask 100 random people what their credit score is hardly anyone will know it. I don't even know if it's quantified and where I would check it. That alone shows me that it's not nearly as relevant here. Or maybe it is and most of us don't care about it at all🤷‍♂️

Many people here rely on loans and credit cards. Whenever you pay off a loan, make payments on time, etc. they assign you a number to tell other people how responsible you are so they know if they should give you a loan or not.

except the blue jacket one lol

There is a process to get it all taken off your report. Just have to follow the FCRA.

A credit score is based on a number of factors, and basically says how financially trustworthy you are (bit of a simplification, but close enough for this purpose).

financial predators want to know who they can charge inflated interst rates to

So what do you use in Europe ?

@@WhatInTheWorld3 nothing you just send the banks a few months of bank statements if you want a credit and use debit cards for the rest

@@WhatInTheWorld3 The point is that you’re not using credit for every expense there is, but only investments. And university (or as you call it college) and healthcare are free, so two crazy spending items are just wiped off our balance sheet altogether, which allows to handle our capital more conservatively as well. That’s just my two cents. Don’t quote me.

I mean, we all know the US is fucked so it shouldn't be surprising lol

You can rarely even rent a home in the US without a good credit score now, unless you live in a rural area and find an independent landlord (instead of an agency) who is willing to rent based on proof of income and/or bank statements. I don't know how much longer we can sustain this system. Mind-blowing to me that you guys barely use credit scores, I'm jealous!

B/c it's not really about saving (and I know many other countries put this as a huge importance) but it's about how well you can utilize the system to make more money. THAT is the most important thing in the US

Goddamn do you not pay your bills

😟

Isn't 300 the lowest?

I’m a random stranger and now I know 😂

😂😂😂😂😂😂

I noticed that, too

Yeah, they didn’t show everybody. I wonder why?

And the person in the black leather jacket right??

Lollll I was just thinking the same thing!

yeah maybe their credit score is super low? they didn't include anyone with low credit scores... maybe they didn't think they should advertise that they had low scores? idk.

Participation trophy syndrome 😂… she really think she did something doesn’t she

This, 100%. It was really off-putting to hear that from someone who didn't establish that high of a credit (at first) all on her own. Like, could she have made it on her own? Sure. But we'll never know that unless she tanks it and brings it back up. Good for her to have kept it up there, but dang.

and she got nobody right at the end lmfaoo

She also said she was guessing based on appearance. I don’t think she was taking this very seriously. She was just joking.

@@josephsherby Nah she was humbled very quickly

Yup, he is very thing wrong with the Seattle rental situation atm.

@@arrow2589 yep, my rent's about to go up while the housing market is on the downturn ugh

Why did you say you haven't missed out on a rent payment? What about other missed payments?

@@Exachad during 2020/2021 when work slowed due to the pandemic, I deferred a couple payments.

my credit score is shit because no one ever taught me anything and just told me “not to get credit cards” and i’m 26 and still struggling. i’m very glad you found this even though i couldn’t. ❤

20 is a great time to start. Get your credit report, understand the important factors that go into your score, and then get and smartly utilize a good credit card.

@@caliiinoel The thing is, having a credit card can improve your credit score so much as long as you make consistent payments. Actually, it's recommended to use a credit card to build credit, just never spend out of your means.

@@caliiinoel Hopefully I don’t end up like you❤️💀

@@caliiinoel same! growing up, everyone around me always just said to never get a credit card, never buy things on credit, etc and now i’m 24 with no credit score at all.

Thank you! A I'm a 22 year old college student without credit, this was very informative thank you again!

@@chaseakpulonu2093 It’s different, he’s probably from the UK, they use that range up to 999.

I am 30 and know absolutely nothing about credit. I’ve never had a credit card. I’ve heard, “no credit is worse than bad credit.” Is this true?

What's wrong with using more than 25% of credit limit?

@@brittnymembreno4668 its to do with your credit utilization, which is a factor of your credit score. basically it proves you don't go close to or hit your total limit usually in the eyes of lenders, dicates your likelihood to make payments kinda

@@TheScheiss yikes

Landlord's like this suck. Renting out grandmoms house after she passes is different then the hoarding of wealth that is owning 244 apartments all to yourself just so you can overpriced rent all them out and rip people off

@@arrow2589 and then they convince themselves and tell others they are morally superior, financially responsible, smarter, etc. I laugh at rich people who think they are better when their starting line was miles ahead of ours.

@KevrosyEh exactly. Like what do they want more money and a kwepie doll?

Why is he obnoxious? Don't be an asshole just because people aren't as emotive.

Also noticed this.

Yea just commented this😭thought I was trippin

Two people actually I wonder why

Woah yea thats a bit weird

Yes literally! I had to go back and rewatch to realize I really didn't miss their part. They should've been there 😭

Yupp I knew a girl and she was under aged she could legally not do anything!! Her dad was not in the picture only her mom. And the only way to legally stop it at that age was by going to the judge and ask to be disconectect from her parents.... she was basically like an orphan but both her parents lived. The mom took more then 80.000 euro in loans in her name... wtf what parent does that!? That is so wrong :/

@@littlepumpkinseed that's so sad. How would she ever financially recover from that

@hotgirladjacent I can't remember but she was super brave and had a plan! I think she went and filled a lawsuit against her mom as soon as she could. She won. She was studying and working when I met her! One of the sweetest persons I have met! I love that she did not get discouraged by that betrail! I regularly think about her if I feel down or overwhelmed! What a warrior she is! I can not imagine having the strength and the wisdom at such a young age!

It is a determination of how well you pay back borrowed money; people can steal social security numbers/banking info; we have to pay for schooling and that is the easiest way to gain a fuck ton of debt (its also easy to owe a ton of debt because of medical bills); we have to owe someone money at all times because capitalism, therefore credit cards

A credit score is a numerical metric derived from several factors, including length of credit history, number of accounts, total debt, missed monthly payments, percentage of credit utilization, etc. Essentially, it is a score for how good you are to lend money to. Identities can be stolen via gathering information online, on familial fraud in the case of one person (her mom opened credit card account in her daughters name). A 20 year old might have car payments, student loans, unpaid credit card debt, any number of things. Having a credit card is almost universal in the US at this point. The primary reason people get them initially is to establish that credit history as soon as possible. The longer credit history you have, the better your score is, and the easier it will be to get larger loans in the future (business loans, mortgages, etc)

the biggest mistake from Cut is make content only USA citizens could undestand. They need to explain more to worldwide audience or the video will be irrelevant

@@Guarlaon no it isn't just american countries that have this system my country does as well

@@thatweirdblackgirl4259 The EU is capitalist as well. We don’t have those shenanigans.

Why

@@roxy4325 because

Not every landlord is terrible 🙄

@@tideio because why?

@@roxy4325 because

Right?? It's not the end of the world if someone has a few missed payments. Life happens and sometimes you have to decide if you'd rather have food or pay off your debt.

A whole leech

he doesn't know enough about credit. you can easily bounce back from a few missed payments. I hit rock bottom in 2019-2020 when my credit card was over the limit with 3 missed payments and 2 items in collections. I was at 489. I've spent about 2 years to work my butt off to get it to where it is now at 745.

It does if they report it to the credit bureau

@@feliciasisk494 they only report when you don't. So not paying hurts it. But it's not a credit towards your score either. Paying you CC or loans on time helps your score. Not doing so hurts. Rent however only offers the option to hurt it

@Katy I only rented for a little over a year so honestly didn't know this. I always thought they could report both.

@@feliciasisk494 nope they don't lol and I hate it makes me mad

@@feliciasisk494 nope. There is a bill in congress to try to now include paying on time into your score as a way to help build credit but I doubt it happens. Always worth a call to your reps though

Yeah, noticed i didn't see the black lady and other person in interview's

I think the girl in the leather trench coat was on The Button

Maybe they withdrew consent to be in the video

Hi I was the girl in the striped sweater at the end of the video I think they just cut it out because it might have not been as interesting as the others lol

@@scotthearts9634 is the other person called other because she's white, or do you just see white as standard so it doesn't need to be mentioned, only black.

maybe they changed their mind and didn't want their actual score being known so they asked to be cut out

@@PikaChu-sp2qo I'm one the girls at the end, I think it just had to do with our stories maybe? Too long/not too interesting possibly lol

amazing

MICHEAL!!!

@@milamarni oh that’s mature, Michael!

she just didnt take it seriously at all. it was just a fun game for her and you have to guess based on something..

Woohoo!! Good for you, must have taken a lot to build i guess, nothin' good like feeling debt free!

@@scotthearts9634 I beat you by 10 points! Though I'm 12 years older lol

Same! 29. No debt at all and a credit score over 850

trying to get there! 25, no debt, and 745 score!

Québecois ici. Mon crédit sur Equifax est 831 sur 900. Pas trop mal :)

@@hagron5702 Génial ça ! :D

It's complicated and definitely not perfect 😅 but it has its advantages.

Are you paying in full every month? Paying just the minimum might bring it down a little. Do you have any loans? A mortgage? If you aren't paying those in full, just the minimum or a little above, it could be hurting your credit score.

@@laurentulis4129 i pay my full amount in two payments, one around when i get my statement and then one like in the middle of the month. but i always pay the full amount before the payment is due. sometimes I pay my credit card early before the statement comes out too, not sure if that would have a negative effect?

@@xxttiiffaannyyxxTry paying before you get your statement, and in the middle.

Get a student card. The only one I had approved was the student discover. After years I had offers for better credit cards. The point is never spend more than you can afford. Autopay is good for not missing payment.

@@dileycacepeda9184 thank you! Speakin' of discover yeah, will definitely do that! I have been gettin' alot of offers from whenever i get my mail.

You should not be afraid! Look up more videos to understand better. The reality is, if you want to ever buy a car, house, loan, you NEED credit. In our system, debt is good! Before our house closure, they told me, pay off your debt AFTER buying the house. Not before. Don’t wait until you’re 22 to get a card. Use this extra 4 years to get a better score!

I thought the same about university.

He literally got some almost exactly and was pretty close on others. Wasn't that far off

did we watch the same video?

he wasnt far off with any of them what, maybe just the guy with the beanie

It might not have been just for one shirt though. A lot of places have a minimum purchase so the one shirt could’ve been included in a larger purchase with multiple items

I think maybe she had bad credit i guess or didn't to talk anymore 🤷‍♂️ ??

If you make all your payments, then they have no reasons to believe you won't keep doing that.

None here but really why tho' 🤔

they were probably interviewed but their segments weren’t interesting enough to stay in the final cut

@@Cheerleaderfan6 has this happened before?!

Someone else suggested in the comments that perhaps those 2 people withdrew their consent to be in the video after filming

@@jboudie That makes a lot of sense. Also because credit score might be quite sensitive info.

She got nobody right.... lol

fr she think she's the shit for having high credit

Get a credit card

Get a card and learn about the advantages and learn what you need to do to get a good score

Don't just get a credit card with no plan. You have to know what you're doing. The way cc companies make money is from high interest rates on the balance. If you get a cc, make sure it has the lowest interest rate you can get. If not, only use it for small purchases you can pay with in cash right away. So like, a cup of coffee. It has to be within your budget. That way, once you pay for the product, you go and pay off the balance right away. People go into cc debt superrrrr quick by making purchases/balances they can't pay off right away, coupled with incredibly high interest rates (20-25%). Then it turns into a huge cyclical problem that will be super hard to dig yourself out of. That's the first tip.

Once you get a good understanding of how to manage one cc properly, get more. So take a year with one credit card. Use it wisely and within your means. Then apply for a new card. That increases your limit. Credit is a history of how you use money. Part of that is your debt ratio. If you have one cc with a $1000 limit and you're utilizing only 3% of that really well, it looks good. If you have a $2000 or $4000 limit, the precentage that you're utilizing will decrease, and it looks even better. Increasing your limit while keeping the utilization low is ideal. You don't want utilization at 0% for an extended period of time- the cc company may think the card is lost and deactivate the account. Which will hurt your credit. *note. Since your credit history is brand new, hard inquiries while applying for cc's will affect your score. But hard inquiries only last for about 2-3 years. So slowly applying for cc's will hurt your credit at first, but maintaining the accounts properly, while increasing your spending limits and adding more accounts will benefit your credit in the long run after the inquiries eventually expire.

@@arianam6430 I’m not the person you replied to but this has really helped me build an image of what a cc is or how to manage it! Thank you for replying to this person bc from that I was able to grasp the basic concept of it!