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@itsgetnmeza3 жыл бұрын
I'll be sure to support the channel on my next card. 👌🏽
@joey775003 жыл бұрын
Hey Adam, just the heads up I sent you an e mail last week. Hopefully you got to check it out.
@GIUL7301 Жыл бұрын
Never ever use a debit card. I only use my debit card for deposits. Your credit card is protected against fraud. Debit cards are not. Always pay to 0 end of each mounth which I've done since 18 years old. I'm 66 now. It's easy when you have a budget. MAKE A BUDGET. Don't spend $ 2,500.00 dollars a year at Starbucks. Stay dept free my friends.
@gariejoyce5263 Жыл бұрын
I learned that the hard way years ago. My debit card is now only use for deposits, and withdrawals . My debit card issue did get resolve, but it took a little while to get my cash back
@sleepnaught Жыл бұрын
Thankfully, I learned that lesson second hand. Saw my mom lose a solid chunk of change from a stolen debit card. I got rid of my debit card, simply don't need it. CCs are the way to go.
@hypnoticz93 жыл бұрын
I have a credit card each with Discover, Citi, Bank of America, Chase, and 3 cards with Navy Federal. To me it’s about building relationships with these banks.
@soplas01042 жыл бұрын
Wow with those credit card you have a excelentes credit
@supra95ful2 жыл бұрын
Nice bro! no amex? for travel
@Surfer041 Жыл бұрын
I have Amex Gold. Chase Sapphire Preferred, Venture One MC, and Discover It.
@JimManeri Жыл бұрын
They don’t care about your relationship. Your relationship with these banks is they have access to capital and they charge you a lot of money for that access. They will put you on the streets in a second if you would increase their net worth by anything at all.
@BillyBlakeington11 ай бұрын
@JimManeri I have 2.5 years of credit and I pay in full at the end of the month. $0 I've paid to banks in interest. Legally they can't charge me if I pay in full on time
@jrdnfla3 жыл бұрын
14 personal cards... in the garden 🪴 until 2022 Started rebuilding credit in 2016
@DomWars99993 жыл бұрын
I have 10 started garden as well brother
@edgar224523 жыл бұрын
Goddamn!!!!
@MM-cn6cs3 жыл бұрын
13 here , 2 store cards 5 Visa 6 MasterCard .
@REPUBLI_CAN3 жыл бұрын
As many as you can manage, it all depends on the credit limit of a specific card🤷♂️. I have 5 & able to stay in the 2% credit utilization with a near 800 credit score. SO, IT ALL DEPENDS ON THE INDIVIDUAL🤔
@j0epark13 жыл бұрын
I’ve had 4-6 cards at one point in time. And I tripled those numbers since 😂
@myrontaylor11503 жыл бұрын
@Profile Name just keep up with the due dates on each card and pay them on time so that you won't be charged a 38 dollar late fee or worse yet after 30 days late they report it to the Credit bureau
@drillgalante80883 жыл бұрын
@darkwayle is the best
@Jelliott4243 жыл бұрын
Yeah counting store cards I’m in the teens
@j0epark13 жыл бұрын
@@myrontaylor1150 z
@myrontaylor11503 жыл бұрын
@@j0epark1 ???
@edgardorodriguez3 жыл бұрын
16 years credit history 28 credit cards open 820 credit score it can be possible just dont use more than 10% on your credit limit one each card and change them between month.
@arthurhill293 жыл бұрын
Do banks want to see you use more than 50% of their money that they loan you?
@appollo26243 жыл бұрын
@@arthurhill29 practically every issuer desires every card to be paid in full every month. Always stay below at least 30% ratio even better if you do below 10%. Just don’t not use your cards. Not using them will get them closed which will hurt bad. Age of credit, your ratio, your credit limit, etc.
@latachia_29813 жыл бұрын
@@arthurhill29 No, 30% is what they like to see & 10%(or less) is considered the best!
@zachadkins61612 жыл бұрын
I have 4 cards I run my money through. 46k credit limit combined with them. They fit perfect for my life style. 1) grocery and gas 2) dinning and entertainment 3) drug store and catch all 4) insurance bills and medical bills (points card)
@abay74562 жыл бұрын
Can you tell us which CC you use for which type of purchase that you've listed above?
@zachadkins61612 жыл бұрын
@@abay7456 1. Amex blue cash preferred ( groceries and gas) 2. Capital one SavorOne (dining &entertainment) 3. Apple Card (drug store & catch all) 4. This one was a local credit union card. I’ve switch this with the Amex cash magnet ( Insurance and medical bills)
@Frostyrnb773 жыл бұрын
I have 11, but I'd recommend 3-5 credit cards for everyone. 1-3 on most spent on spending categories, 1 secure card/1 student card for building, and 1 2% flat rate card for fallback.
@beachn2003 жыл бұрын
I have 14 but only use 2 for most purchases. I use the others every 3 or 4 months for a couple small amount purchases to keep them active.
@REPUBLI_CAN3 жыл бұрын
Smart move, I do the same. Use the ones that yield back more rewards🤷♂️
@irosa773 жыл бұрын
Same
@jloiben122 жыл бұрын
As many as needed. I think a good “minimum” would be 3: one with a good food bonus (ie - Amex Gold), one for travel (ie - Chase Sapphire Pref), and one for everyday spending (ie - Capital One Venture Rewards). There are many, many cards that can be used to hit these. There is no one right answer for any of those categories.
@cjhan473 жыл бұрын
I have 6 Cards and boy are those rewards paying off. Vacationing this summer all on points. Feels good to pay nothing for travel and that's 4k that I get to keep in my pocket.
@geefunk072 жыл бұрын
I have six, most are cash back, one for every spending category 😇
@rogerwalker12662 жыл бұрын
Simple rule, don’t spend what you do not have. That way you will never have debt problem.
@shandradowe41132 жыл бұрын
Thank you soo much..my fat head boyfriend has 8 ..but guess what he can't afford to pay them .. he's very bad with money..I tried to help him but it didn't work..🤨
@andrewguizar555 Жыл бұрын
Chandra, now why does he have to be a fat head ??🤣🤣🤣🤣
@Bshack19873 жыл бұрын
Currently have 5, look at a total of 8 when my whole plan is complete.
@ketogenicknowledge2452 жыл бұрын
I've got 7 cards now with 0 annual fee. I have them all on auto-pay, and only put like $5-$10 on each one. I want a wide and long history of paying on time. Doing this to get the best mortgage rate possible. The main important things are credit utilization and payment history.
@jesseyrichard46112 жыл бұрын
quick question, if i use my credit cards but pay them off as soon as i can... is it bad? should i be waiting a whole 30 days before paying them off?
@fogrunr50752 жыл бұрын
@@jesseyrichard4611 Credit reports pull the most recent monthly statement balance on each card. So each month let the statement(s) post, and as soon as it does you can pay it then. You can control your credit utilization % for a card and the total of all cards by how much you allow to post on the statement of each card each month.
@ekwon47642 жыл бұрын
A credit card is the best form of payment vs debit card. With a debit card are you leaving money on the table w no rewards. But mainly debit offers no protection and it instantly takes the money out. Listen to any top financial adviser. They won’t let their kids own a debit card
@RedLeo-pf9yo11 ай бұрын
I got one credit card from each of the four major companies. Gave them each a job, and called it the day. I will have the same 4 credit cards the rest of my life.
@peppythetruth3 жыл бұрын
I have 9 probably going to stop at 10, my credit scores are Ex-806, Eq-807 and trans-804.
@WaterYourSoil3 жыл бұрын
I think 4-6 cards is usually manageable. Once you get beyond 6 you need to be a bit of a Pro and be good with memorizing and prioritizing your due dates and cards.
@sweis123 жыл бұрын
It depends really. If they are from the same issuer then its not much harder to manage.
@PatrickDKing2 жыл бұрын
Most cards let you request a change in due date. Also you can just pay all of them on the 1st of the month and that will cover everything even if you are paying a few weeks early.
@renragged3 жыл бұрын
That first bit of advice was really eye-opening for me. I'm going to try to start making purchases with a credit card and pay them off rather than pay for things with my debit card. Not to mention the rewards! I get zero rewards for buying stuff with my debit card. Dang, I've been doing it wrong for so long...
@myrontaylor11503 жыл бұрын
Now that you learned, go make life more eventful for yourself
@braskabani80112 жыл бұрын
Basically one with each bank
@williegarrett75872 жыл бұрын
Makes sense.
@Th33Vultur32 жыл бұрын
I have 5 credit cards and an Amex Green Card. A Chase Freedom Unlimited at $3000, an Apple card at $2250, an Amazon Chase Non-Prime at $2200, an Amex EveryDay at $1000 and a Discover It Cash Back at $3000 and an Amex Green Card totaling $1600 in spending power since I'm new and 3 weeks into having Amex for a grand total of $13,050.
@liztaylor85139 Жыл бұрын
I'm working on my credit and have watched 100's of videos. Your channel is so REAL! One of my favorite!
@RedLeo-pf9yo2 жыл бұрын
Ive got 1 of each of the 4 major credit card companies and i gave each one of them a job.
@Th33Vultur32 жыл бұрын
I used to have 7 cards. They all closed down for inactivity and didn't have a credit card for at least 5 years. I went to get a car loan, got denied. My mom offered to put it under her name as a co-signer. My oldest card was over 20 years and 8 months gone forever, but now looking to rebuild my credit by having cards again and using them responsibly. The ones I had previously as well as a past school loan and my most recent car loan is all paid up. I'm looking to look forward and learn from my past. I have 3 cards now, a Chase Freedom Rewards card with 1,500 and after 6 months, its now at $3000. I have an Amazon Chase Card at $2200 and an Apple Card at $2000. That's enough for now. Three credit cards in one year is enough for now since July 2021.
@fogrunr50752 жыл бұрын
As I'm sure you know by now, just keeping that very first card open forever is a great benefit. Like when your credit report says your longest account is 25 years. But don't sweat it. Soon you'll have a 3-year credit history and then 5 years than 10 years. See if you can get into a credit union. Maybe you have some military in your family, and you can get into it Navy Federal Credit Union. Go to their website and check out the rules.
@Th33Vultur32 жыл бұрын
@@fogrunr5075 I don't have any military members in my family. I made that mistake once of listening to my mom and stop using my cards including my oldest one opened way back in May 2000. I lost 21 of would be credit history right there. Now at 41 back in 2021 and now 42, starting my credit history somewhat from scratch because the other closed cards still show up on my record. I just have to build on it and not repeat the same mistake twice of not using cards due to inactivity.
@omniken662 жыл бұрын
I have 4 credit cards. Two with high limits for big vacations and big purchases, two with medium limits which I use to make smaller purchases such as groceries and other things to get my 3% on all purchases.
@donatelloslappafello1108 Жыл бұрын
I have only 3 chase cards and it feels like one too many really. I added the amazon prime rewards card just lately because i order from Amazon all the time anyway living in a very rural area with no big stores. I understand the strategy of having 20 credit cards but it just would drive me crazy with all that floating out there and im not a big fan of credit cards anyway, just realize they are like a tool to use (to me anyway) Its really a personal thing like losing weight what works for one person won't necessarily work for another but the fundamentals are the same. Thanks for the video
@michaelkim21473 жыл бұрын
The videos keep getting better and more informative for advanced credit card users. Thank you!
@ProudMoney3 жыл бұрын
Very kind, thank you.
@garrettwhitlock85373 жыл бұрын
Always use a credit card for the protection and rewards. As long as you can handle them and don’t apply for new cards too often you can handle as many as you’d like.
@SamSung-jv3jm3 жыл бұрын
For me, the issue is how much of a total credit limit I want for emergencies. I was really glad to have all my cards in Dec 2020. I briefly went to work in Dallas and had a situation where I needed to sleep in an extended stay hotel for the month. Because I had enough credit my utilization was only 10%.
@emmapeel42993 жыл бұрын
7, try to put one reoccurring bill on each of them but pay off all every month unless I have a sign up bonus to hit first. I have travel cards but have shifted to grocery, etc focused due to last year. Keep a firm discipline of 6 months+ gardening between. Agree that in today’s world credit is especially important. (Good time to take advantage of % interest period if you are starting out and are navigating auto-pay, etc too). I also put my kids on as AUs to help them out.
@DalHarpJr3 жыл бұрын
I have a mix of 28 cards. Store cards, American Express, Discover, MasterCard and Visa. And they all serve a purpose...
@DalHarpJr3 жыл бұрын
@DrNoAudio LOL
@jamess41013 жыл бұрын
Have 23plus cards as well with store cards and anex visa mc but I did 18 or so in 24mos and use everything for different purposes and rewards have to garden a little cause i did not go far chase yet
@DalHarpJr3 жыл бұрын
@@jamess4101 Likewise... I don’t have any Chase cards either! Also, 3 of my 28 cards are business cards.
@arthurhill293 жыл бұрын
Wow
@tiarag25763 жыл бұрын
Whoa 😳
@solomonKachi70002 жыл бұрын
My limit will be 7. Lucky number. 6 personal and 1 business card.
@DailyThingsInLife3 жыл бұрын
Currently have 6 credit cards with 16k income annually and I don't owe any debt. Better play the game or else you gonna get played by the game
@strawhelyperfectx3 жыл бұрын
Do you mind being asked what your credit score is?
@DailyThingsInLife3 жыл бұрын
@@strawhelyperfectx Transunion 759, 760 with Equifax, and 764 fico score
@strawhelyperfectx3 жыл бұрын
@@DailyThingsInLife oh wow that’s amazing. Are you young? I’m about to get one and I would like advice since I make around that much.
@DailyThingsInLife3 жыл бұрын
@@strawhelyperfectx I am 21 and still in college. You should get the Discover IT secured card if you never have a credit card before.
@ajbalut14703 жыл бұрын
I agree. I’m 21. Started using credit card 3 months ago. I have two now. Started with Discover it. My credit score went up from 0-700 in just a month. I just treat them as a debit card.
@justocho90903 жыл бұрын
I have 4 at the moment. I’m waiting for late summer to apply for a chase card to hold 5 cards in total
@zerokool-20583 жыл бұрын
I personally have 4.. that’s it for me. All 4 no annual fee.
@myrontaylor11503 жыл бұрын
Good job
@naveenthemachine3 жыл бұрын
I currently have 3 soon to be 4 cards. I’ll be good for at least a while...
@e92bruh373 жыл бұрын
Two for me one is chase and the other is the apple credit card
@newbeginnings9457 Жыл бұрын
I have over double my income In available credit and can still get more cards! 🤷♂️
@erickcanogonzalez27643 жыл бұрын
I will try to watch all the videos or half of the videos that you have made on credit cards I like the way you are explaining how they work.
@missym2751 Жыл бұрын
I wish I known about the 5/24 rule before I max out my card approval. My credit history is a little over 3 years old with a 732 credit score after all the hard inquiry pulls. I decided to get so many card right now so my credit age for each account would be so close together. I have 7 credit cards with a total of 39,400 credit limit from all of them together. I think I'm at my limit of credit card accounts just because it's hard to keep track of how often I use each card and making sure each account is open. I think overall a person should have 4 -5 cards if you don't want to go crazy with so many accounts. one for food, one for clothes, one to use for your child or pet, another for household products like furniture/tv/kitchen products, and one to spoil yourself with. My next goal is to raise the limit on my cards more but it looks like I'm going to have to wait until 6 months to do that. Alsp I want to trade one of my old credit card for a better card but it seems I have to wait 2 more years to do that until then I just do research on what replacement card I should get next
@therealrobinbullock Жыл бұрын
I have a minimum wage part time job, and have finagled 22 credit cards with about $120k in unsecured credit.
@luizquiz1 Жыл бұрын
lol wtf
@girlwithpearls Жыл бұрын
Did you use other household income?
@lianalonge19842 жыл бұрын
As always, great informative video. 👏🏽👏🏽👏🏽 For years I had only 2 credit cards. Now I have: ✅ 2 charge cards ✅ 4 personal credit cards ✅ 1 retail card To complete my array of cards, I have my eye on 3 specific additional personal credit cards and 1 business card. And I treat my cards like cash. I don’t spend what I don’t have. 0-1% CU, $0 balance on all cards, and 14% DTI.
@sunrise79372 жыл бұрын
I have 8 CCs with 820 score. I do not carry a balance…
@user1fja98dnaiid2 жыл бұрын
And thats y u r able to have so many cards haha
@ZayPatino2 жыл бұрын
💯💯💯
@helenayoung40642 жыл бұрын
Good job
@fogrunr50752 жыл бұрын
Do you have any loans, and is one of them a mortgage?
@stephenwright1332 жыл бұрын
I have 7 and am thinking about an 8th one. However, each one has a particular job. When the time comes where it can't meet my needs anymore I will either downgrade or cancel depending on the card. I do have some cards that I will never cancel as I've had them for many years.
@tianzhong31493 жыл бұрын
5 credit cards all in diff colors lolll, obviously paid off every month, but the number is mainly to keep my utilization low every month, also i don’t have to keep applying in the future, i just rotate them each time i get tired of a color
@Anthony-wp1by2 жыл бұрын
Stay away from Bank of America. I know someone who's both credit card accounts were permanently closed by Bank of America (without any notice) after being 19 years of loyal customer & paying bills in full & in time all these years! This person was out of country with no cash when this happened, so had to go through hell to come back home. Bank of America customer service later said: "We closed them because we can & we don't even need a reason to do so or tell you why?!"
@kolove17 Жыл бұрын
True. Be aware B of A
@mladyfire719911 ай бұрын
Other banks do this as well
@onuohafamily3 жыл бұрын
I got 6, currently 3% or greater on all categories I spend on but occasionally 4% depends on rotating categories. Obviously with chase offers, amex offers, rakuten and such there's also more savings there so sometimes I'm double, triple and quadruple dipping rewards from different sources
@user1fja98dnaiid2 жыл бұрын
2:55 is why im here!!! Wondering if having many cards from diff banks is a bad thing
@beardineric65583 жыл бұрын
I have 4. Amex Blue Cash, Discover it, Amazon Prime, and American Eagle. Kinda want the JetBlue card to start saving for trips
@outstndn3 жыл бұрын
I wouldn’t get JetBlue. They’re not doing so good
@Th33Vultur3 Жыл бұрын
I now have 11 credit cards with physical limits and have $24, 250 in personal cards and $4100 in business credit cards. One is a charge card, the Amex Green card which is no preset limit. I'm good for now. 12 personal and 1 business. I see nothing right now on my radar for at least a few months and possibly a year. I'm trying to get under 5/24 which should be at least in another year or two. If their no annual fee, if you prefer one, put a small charge every now and then to keep it open once every few months even better if a monthly recurring charge and on autopay. In this case, the other 2 and it will keep them open, increase the available credit available to you and your utilization will be much lower and raise your score.
@stephenwright1333 жыл бұрын
I have 7 total. Each of them have a job. I can’t imagine I would need anymore.
@Mod-rw9cw2 жыл бұрын
I have 5 and never have to worry about having enough money for anything .
@helenayoung40642 жыл бұрын
Right same with me I have 5
@CaseyBurnsInvesting3 жыл бұрын
There is no such thing as too many
@myrontaylor11503 жыл бұрын
That sounds good and I sure would like to hear your reasoning for that because I have 16 cards and a 14% Utilization in I am thinking about getting another card that I am pre-qualified for
@be14mi2 жыл бұрын
Late to comment but I am one of those 2 card people that he talked about. I have one Visa card from Chase and one American Express card. I find that having a charge card and a credit card to be very useful to me as I spend through a given month.
@djpuplex3 жыл бұрын
A couple 1. 2% cash back catch all 2. 5% revolving (or two) 3. >2% gas & or grocery category (PNC, Amex venmo ) 4. Travel card
@myrontaylor11502 жыл бұрын
I have 16 cards with a 3% Utilization and Credit Karma is trying to talk me into getting more cards with outstanding approval odds but I am not interested my score is 790.
@fogrunr50752 жыл бұрын
Think like a gymnast. Optimum strength to weight ratio.
@charleschristianson2730 Жыл бұрын
Credit Karma says that to everyone, all the time lol
@peterallam6494 Жыл бұрын
12 /01 23, Bet the APR was North of 30 % !
@thegundoctor3 жыл бұрын
4-6 cards? I have like 35 but I pay them in full every month
@wmcovington1041 Жыл бұрын
You nailed it on the Discover card. They started me off lower end then, with out me asking just kept bumping me up! Less than a year I’m up to 15k! They had 0% for 18 months so I used them as my main card. Now I am paying it off before they charge me 20% interest!!!!
@giggleswithteshanaandbrihanna Жыл бұрын
I have Capital One and discover it
@garrymyers84593 жыл бұрын
Thanks once again proud $. Soon to be ten cards when I get out of Chase prison & acquire Amazon card.
@Lennox-ym9bg3 жыл бұрын
Somewhere a guy named Dave is losing his shit
@kxngdavid3 жыл бұрын
how'd you know?
@Jelliott4243 жыл бұрын
😂😂😂😂😂😂
@HerballyTwisted3 жыл бұрын
Lmao
@elliotsmith16703 жыл бұрын
I currently have nine cards with five different banks.. I feel like this is a comfortable amount for me and I use them interchangeably for bill pay and some for purchases only... I could probably open up another account if I wanted but I'm afraid I would hit my credit ceiling for my income range, and feel confident with the mix that I have. I keep multiple accounts with different banks because of the various benefits and offers they provide...Gonna hang out in the garden for a while now.
@daneo617 Жыл бұрын
I have a very short credit history, only 3 yrs & I have had 31 accounts 10 are closed My score is 740 This is just my example, not bragging by any means obv just showing, a lot of cards/accounts isn't always bad 🤷🏼♂️ I wouldn't recommend to the average person starting out @ the time it all made sense for me, I'll still probably close at least half of what's left after 2 yrs passes ✌🏻
@nobom Жыл бұрын
31 accounts in 3 years?! How the jell?! That's on average 10 new accounts every year! And how is your credit score not tanked lol
@antoinecharlesdegaulle5803 жыл бұрын
I have been waiting for this video for a while thank you so much ☺️
@toniarichardson69093 жыл бұрын
Great video...very thoughtful and well explained.
@SabreLeonheart Жыл бұрын
35+ and counting!!! 🤣 I count credit cards in my sleep instead of sheep 🐑
@TACUA4444 Жыл бұрын
😆 🤣 😂
@Pharaoh_The_Great Жыл бұрын
Sounds like a credit card addiction 😂
@emaldiamarbury643110 ай бұрын
Same!! 👍🏽
@macgamer1973 Жыл бұрын
I had 9. However a long time ago discover denied me. Just recent was accepted by discover for a secured card. decided just keep capital one, avant , discover, self, open sky .
@ulucio863 жыл бұрын
Well I’m 35 so far i have 9 credit cards. My credit score is 760
@JohnnyK20133 жыл бұрын
As many as they will give me with sign up bonuses over $500!
@jamesbaron37752 жыл бұрын
I am up to 6 credit cards, including the Chase Trifecta totaling just over $100k in limits. I am using anywhere from 1-3% utilization in any given month and sometimes going up to 5ish% but paying it off entirely each month. I really want to get into the AMEX Trifecta as well but think I need to hold off for a bit as I have gotten the entire Chase Trifecta within the last 6 months.
@23majesticblue2 жыл бұрын
I have 6 credit cards as well, discover it cashback, playstation credit card for my video games, 2 quicksilver cards, and chase freedom unlimited. I recently got approved for the citi double cash. I will have to wait awhile to apply for the freedom flex.
@michaelreid8857 Жыл бұрын
Amex is a sweet Company. Space out an application with them to about four months. If your not holding a lot of inquiries, you’ll probably gonna get approved On the odd chance, you do get denied. Wait another 90 days!
@Garrycamden3 жыл бұрын
I have 5 all are cards for rebuilding credit. Credit is getting better and eventually I'll have 3 really solid cards and dump the rest
@appollo26243 жыл бұрын
Keep your oldest ones and use every so often. You don’t wanna lower your average age of credit.
@AENG19912 жыл бұрын
30 y/o I have 1 credit card & 1 business card. Credit score is 777.
@jollama2 жыл бұрын
Likely carried by long credit history
@AENG19912 жыл бұрын
@@jollama You are absolutely right. My moms had me on her credit card since I was 16. Now my son has been on mine since he was 2 & he’s 6.
@user1fja98dnaiid2 жыл бұрын
You could have 10 card and have a 788
@AENG19912 жыл бұрын
@@user1fja98dnaiid Yeah rather have 10 business card than Personal cards.
@GODHATESADOPTION2 жыл бұрын
@@AENG1991 you wont get over 800 with 1 card
@michaelewing1978 Жыл бұрын
I have 4 credit cards, 1 Charge card, Tractor Supply card and a Furniture Mart card.
@Fuerya Жыл бұрын
I have Apple , Capital One & Amex. Just gonna build these 3 for the rest of my life.
@macgamer1973 Жыл бұрын
I would keep my Amex if it didn’t have 400 dollars annual fee
@Fuerya Жыл бұрын
@@macgamer1973 You able to downsize it?
@Fuerya10 ай бұрын
@@macgamer1973I’m back lol. Looking into getting the navy fed Amex card
@andrewblatt296 Жыл бұрын
In the UK I have three credit cards amex reward card and two from lloyds banking group a halifax card and a lloyds card which is easy to manage
@docsays3 жыл бұрын
Currently i have 9 major credit cards, plus 7 or 8 store cards i opened along time ago. I plan to close 2-3 of the store cards & open 2-3 more major cards & then I should be done. I think 20 combined cards is a bout the max i can comfortably handle.
@fogrunr50752 жыл бұрын
The ultimate goal of the credit score system is to steer people towards a mortgage. The closest thing to a mortgage is a loan. A long-term loan with a very low minimum monthly payment is a great benefit to a credit score. You want the minimum monthly payment to be low because that is reflected in your debt/income. So you could take out a long-term loan with a low minimum payment, and in the second month (after the first balance is posted) use the same funds to pay the loan down to below 20%. Then you can just let the loan ride and make small convenient payments for the duration of it (maybe it's a 5-year loan). You won't be under pressure to make a payment if you don't have the funds because you're paid well ahead. And you can calculate how much you would pay monthly on the low remaining balance to have it paid off at zero at the normal payoff date. Credit cards compliment loans and having them can prove you have self-restraint in an area where many people don't. If your credit score is in the upper 700s and you're interested in the 800s, just find a small, inexpensive piece of land somewhere that you might want to build a vacation escape home on. It could cost $5,000 or less. But having it will give you a little goal, and the credit score gain will help you on things like automobiles, etc. Get into a credit union. That's where you'll find your best rates.
@landonbarretto49332 жыл бұрын
You're right, which is a bunch of BS. I own three homes, no mortgages. My FICO last time I checked was 786. Have a Platinum Amex and a BoA card. Use the Amex every month up to around $20k and pay off. I get penalized on the FICO score by not having a mortgage rather than being credited for paying off my cards every month.
@antman674 Жыл бұрын
Thats a great tip about taking a loan and paying it way down right off the bat. I didn't think of that when I took out my auto loan a couple years ago. What i did was put down 10k cash and borrowed 15k to keep my monthly payments low. Later on I realized what I should have done is borrowed the full 25k and immediately pay off 10k of the loan so that way it shows on my report as having paid off 40% of the loan. That way not only would I have the same low monthly payments, but within a few months I would have been in that 50-60% paid off range which is when it really starts helping your credit score. At least I know for next time!
@kingsboy18283 жыл бұрын
Fantastic video...great advice as always. thanks
@KittyOzzyZiggy38959 ай бұрын
And i will go with a credit union
@KingGreen78 Жыл бұрын
Question:How many cards should one have? Me : yes
@PatrickDKing2 жыл бұрын
83. 83 credit cards is the maximum you should have. Any more than that is unnecessary and probably indicative of some underlying mental health problem.
@ProudMoney2 жыл бұрын
Privately I've always thought 74 but i am willing to entertain your idea. 🙂
@PatrickDKing2 жыл бұрын
@@ProudMoney haha...let's split the difference at an even 80. That way if you put the cards in those little 5 or 10 card per page binders you won't waste any spots.
@PatrickDKing2 жыл бұрын
@Anthony Jones lol I don't have 83 cards. It was kind of a joke, but maybe someday I'll have 83. I might have a dozen or so atm, maybe a little less. How do I manage? Well the physical cards I keep in a binder and lock them in the safe and keep 2-3 in my wallet for stuff I'll buy in person. To manage rewards, I'll use walletflo app for free just to double check which card gives the most back for a category, otherwise I just remember what each card is giving. As far as managing spend, basic spreadsheet with a max budget then just subtract what I bought. To keep cards active, I either have a small thing auto bill to the cards or periodically use the card to buy something cheap. To keep track of making sure I don't miss any payments on the cards, I will sit down the first week of the month and make a list of what each card needs paid and pay them, even if they aren't due yet, and even if they have a 0% introductory rate. Others may disagree but I don't carry balances even on 0% b/c it is not worth it to me.
@williegarrett75872 жыл бұрын
Never thought that was even possible to have that money cards but I guess millionaires are billionaires do, makes sense.
@thefastforte28543 жыл бұрын
8 and 1a/u and climbing fast!!! Last yr only had 1.
@MM203_3 жыл бұрын
I’m at 9 cards - 35.2k need to step it up
@johnnellterrelllyric81663 жыл бұрын
Obviously lol I have some pretty good cards but the limits could be greater
@Georgeandjackshow2 жыл бұрын
In my country everyone has one card. It’s quite simple, you make the payment for the card, now you can spend money wherever you go. No weird features of monthly payments.
@michaelreid8857 Жыл бұрын
That’s not a Credit Card. That’s a Debit Card!
@charleschristianson2730 Жыл бұрын
@@michaelreid8857 More like a prepaid gift card 🤣🤣
@MichaelPittmanJr. Жыл бұрын
Universal basic income aka socialism
@emphaticman3 жыл бұрын
Have 3 cards, but building net 30 accounts to apply for business credit cards
@dbl007will3 жыл бұрын
The answer is no more than five new cards every two years. So when you reach over ten over four plus years that's enough.
@TheTyson353 жыл бұрын
Great vid...I normally wait a year and wait for 1 of 2 inquiries to fall off before I apply for another card especially if I am going after a particular credit card 💳...that makes my chances a lot greater when I use this method...currently have 7 which is pretty decent
@marksantucci42302 жыл бұрын
I think for people who travel on company business you can have what ever the company says so if they say nothing then yeah you can have as many credit cards as you want. but if your paying the bill yeah I would say 3 cards is good. a bank card American Express A Discover card this is whats in my wallet Capital one travel card Venture one 2 Discover 3 American Express cash back 4 Chase Sapphire basic 5. Exxon Mobil charge 6 Citgo charge 7 Macy's American Express
@Mike_812 жыл бұрын
I have 1 bank of America cash rewards Visa.... I'm looking into the chase freedom flex and then maybe just maybe the American Express gold card.
@tequisaholloway1738 Жыл бұрын
I have 3 and I think that's two two of many.
@Goldie-kw5ju2 жыл бұрын
How many credit cards fit in your wallet that's all the credit cards you need my wallet can hold seven credit cards that's enough
@dcunlimited3 жыл бұрын
I just got approved for the Amex Platinum and BCP, that makes 13 for me and I'm set for this year, more to come next year.
@c50grand23 жыл бұрын
I have 17 credit cards at this time.
@finickybits80553 жыл бұрын
I’m at ~3.5x annual income in open tradelines. I think only two cards are sub-5-digit limits. It’s a marathon, not a sprint!
@myrontaylor11503 жыл бұрын
Thats right take it slow and be on top of what needs to be done to get to the next level which is the bigger credit limits
@bionicwoman98843 жыл бұрын
You need at least a backup. So 2 minimum.
@sct40403 жыл бұрын
2-3. Amex, visa, MC.
@jakemicheal85903 жыл бұрын
I got my credit card 💳 from *carder111* on telegram The guy is awesome and reliable ,most comment on here are bots .. 😳
@Goldie-kw5ju2 жыл бұрын
American Express Discover card Visa Mastercard
@docsays3 жыл бұрын
How many cards should you have? Adam: at least 2 ME: as many as they give me!🙂
@niechzyjepolska18052 жыл бұрын
I have a total of 60 cards with a total limit of $225k and don’t owe a dime on any of them
@Joshualibbyy2 жыл бұрын
I have 32 :) but my limit is only 25k 😪😂😂
@niechzyjepolska18052 жыл бұрын
@@Joshualibbyy I am starting to downsize, I want to go down in number of cards and raise the limits on the ones I keep.
@Joshualibbyy2 жыл бұрын
@@niechzyjepolska1805 I'm going the opposite way my friend. I wanna get to 100 before I die
@lalalalalaaaa2 жыл бұрын
I heard 21+ is ideal for a perfect credit score. What's you guys score?
@niechzyjepolska18052 жыл бұрын
@@lalalalalaaaa 785 and 786 due to all the inquiries and new credit cards
@thejokerspeaks3 жыл бұрын
I'm keeping it at 12 max, partially because I own a business. I've got 2 cards I want (Wyndham Business, Hyatt), and 2 I'm planning to ditch (Costco, Bus Platinum).