💪 [ 2023 Update ] 30-Day Credit Challenge is no longer available. New updated 2023 improve your credit video: kzfaq.info/get/bejne/Y9mphLZ2v7DJiIE.html 💳 See Sebby's Card Picks: www.asksebby.com/go/topcards
@emvee53212 жыл бұрын
Hi Sebby! What should I do on the charge off accounts? They’re all closed but still showing past due balance. Thanks in advance!
@theoperator94742 жыл бұрын
That was a great video. 👍
@staciramos66582 жыл бұрын
Score is 530 and I think what's holding it back in late payments negative marks and collections closed acts and past/present utilization. How can you help?
@staciramos66582 жыл бұрын
@@emvee5321 did you ever get an answer?
@IAMKESHIAB2 жыл бұрын
@@staciramos6658 Start By Bringing Your Accounts Up To Date
@Cisco37502 жыл бұрын
Most people focus on credit score, but your income is also another big factor. If you have high credit score but low income you'll have a hard time getting a loan as well.
@TheEnphamus842 жыл бұрын
facts bc this is my problem but not for long!
@niamassey41002 жыл бұрын
Omg why
@curiosityredpill70302 жыл бұрын
@@TheEnphamus84 true
@milojayjay2 жыл бұрын
I think it’s more debt to income ratio. If your income is decent and you have no debt, you will be approved. Obviously they’re not gonna give you a loan that’s way out of your budget, you should consider if it’a smart to even do so.
@06jsil2 жыл бұрын
I know people who make 30k a year and was able to get a 300k home because they had no debt, credit was 700+, and they had 20k down
@LooseJointhiphopdance2 жыл бұрын
I often watch your videos and have learned a lot. I went from not having a credit card more than a year ago to having my first card. a Discover It card. I recently got a credit increase about little more than a month ago and went from an initial $3,500.00 limit to a $6,0000.00 limit. I tried for a limit increase at about 8 months of having the card but was told I had to wait 1 year so I did. Kept my credit utilization around 12% and got accepted. I felt so accomplished Now I want to get my utilization down to under 5% before applying for my next card. Thank you Seby
@betonblack36212 жыл бұрын
I’m working on my 5 card rotation As we speak then I want to get it to 10 eventually
@LiveLoveLaugh_442 жыл бұрын
Congratulations sir
@gtjovan2 жыл бұрын
💪🏾💪🏾
@ericnorthman30632 жыл бұрын
I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 360-768. He helps with credit Repair
@ericnorthman30632 жыл бұрын
@@betonblack3621 I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 360-768. He helps with credit Repair
@soleilwhitton63972 жыл бұрын
I just crossed the 750 credit score threshold. a few things to keep in mind: 1. Pay your minimum payment on time. 2. Stay away from store credit cards, the interest rates are killer and that little bill becomes a big bill when your sit down and add all of your debt up. 3. Make sure you have a credit card that is working for you (miles, points, cash back).
@sweetlifeofHoney2 жыл бұрын
Chime credit builder helped me rebuild my score higgggh, like750 and i go and charge it up.... Omg but i did open a few cc's ...... But im going to work hard to get ot waaay back up again
@sweetlifeofHoney2 жыл бұрын
Youch but my interest rates are sooo high
@soleilwhitton63972 жыл бұрын
@@sweetlifeofHoney If you are making your payments on time for 1 solid year, you can negotiate a lower interest rate. But do whatever you can to pay off your debt. When you owe someone, they take your financial future. You can make it without cc's.
@VisualDisplay072 жыл бұрын
What rappers didn't tell us about other people's money is how to make it work for us! I am adamant about miles, points, and cash back now more than ever and have a plan in place to ensure my monthly balance is under 10%. Mostly, it's not charging more than you know you have in cash to cover the expense. It's also having emergency savings so that your first inkling isn't to 'charge it' and worry about expense later. Without a CC, I discovered more resources for paying off past due amounts than I had when I defaulted to CCs to live. May we never be subject to the lender again, amen?
@Lionheart_He-Man2 жыл бұрын
Correction on # 1 Pay your entire monthly balance….EVERY MONTH in full. There, fixed.
@ConstantPoints2 жыл бұрын
Been in that situation where I had to live in a lesser place because of credit score. Its crazy how bad credit can affect you and in how many different ways! Great topic!
@amyzieger51982 жыл бұрын
well welcome to the real world sir! there's people from all walks of life with this problem. nd just because you have a lot of money, some of these people has bad credit too! they spend nothing but cash and will not take the responsibility to pay there debts either!!! Lets get with the program and the real world sir!!
@lilliandadon90482 жыл бұрын
@@amyzieger5198 their*
@gsawnv2 жыл бұрын
We paid off our mortgage and took a 100 point hit to our credit. This portion of the credit scoring system is broken.
@gsawnv2 жыл бұрын
@The Tranquil Heart yes. Counterintuitive but true. The payment history, balance, etc vanishes when the loan is paid.
@ericnorthman30632 жыл бұрын
I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair…
@listeningviayoutube72292 жыл бұрын
Terribly broken...Smh
@so.many.obstacles2 жыл бұрын
Yeah I paid off a personal loan and took a hit. I’ll pay off my car note this year and I know the drop will come again.
@liztaylor85139 Жыл бұрын
My house is paid for and I get a negative hit because I DON"T have a mortgage! WTH??? Same with my car. I have 3 payments left and when it's paid for? It will drop as well. It's just a way to keep you in-depth!
@landocalrisian20142 жыл бұрын
I've finally after 5 years, got all my scores above 790. I started in the 630s in 2017 and now my highest score is 807 and lowest 796. It was a slow but steady race and I definitely feel good at this point knowing I can get great rates on anything.
@bayborn5102 жыл бұрын
how many credit cards did you have at a time?
@landocalrisian20142 жыл бұрын
@@bayborn510 I believe in 2017 I had roughly 3 cards. Two of them had low limits.
@antman6742 жыл бұрын
I was surprised by the inquies portion not being too bad. Because when i first started rebuilding my credit, my score would take a 40-60 point hit per inquiry. It made me pretty reluctant to apply for new cards. But now with my credit history built up, my score literally only dropped 1 point for my latest credit card application 👍
@JayG_2 жыл бұрын
Another quality video with good information. As some who has made a career in the financial sector for close to twenty years, I appreciate people like you with a platform trying to educate individuals on credit. Doing it for free on KZfaq, and only charging eight bucks for your boot-camp shows your heart is in the right place. I find it astounding that personal financial management and credit isn’t a standard class in our formal education system.
@AskSebby2 жыл бұрын
Thank you! I appreciate that :)
@jimvanover2 жыл бұрын
Is anyone else shocked by the average US FICO of 711?
@jac37442 жыл бұрын
Yeah! i expected a lot lower.
@kingznqueenztv2 жыл бұрын
More like 511…
@listeningviayoutube72292 жыл бұрын
Yes, I thought it would have been in the 500s or 600s.
@timothyflemingphotography Жыл бұрын
@@kingznqueenztv because most people like yourself focus on the lowest common denominator.
@kingznqueenztv Жыл бұрын
@@timothyflemingphotography Which is???
@chrishoffman86002 жыл бұрын
Usually, my score is in the lower 700s. But, right now I just moved/bought a house. I have had a ton of extra expenses, and my cards are loaded. So, my score is way down. It'll take me a little time, but I'll get them all paid off, unless something really bad happens! Score is around 648 now.
@pacs05082 жыл бұрын
At least you have a place to live and time to work on the other. Congratulations! 👏🏽🎉🎊🎈🏆🏡
@chrishoffman86002 жыл бұрын
@@pacs0508 Thanks much. Yeah I didn't end up where I wanted to be house wise, but should be good once can get settled in. It's unfortunate that I had to buy at the worst possible time. But, like you said....glad it all worked out. :)
@rival9892 жыл бұрын
I thought the recovery period was 3 to 6 months, for your scores as long as you don't miss payments?
@landocalrisian20142 жыл бұрын
Think positive!! Congrats on the house. Your score will rebound.
@papihuey2 жыл бұрын
My mom doesn’t even try to increase her score. She got 2 credit cards and the only reason she got them is bc she doesn’t want to use her debit on purchasing stuffs bc she’s afraid of getting her debit hacked. Her credit is like ~650 or something😕
@Busselld72 жыл бұрын
I just watched your video on how to boost your credit score 100 points in 7 days and I liked the info about paying a card down to 2% to get an on time payment. I was going to pay down the balance to 30% or even paying it off but paying it down to 2% and getting the on time payment makes a lot of sense. Thanks Sebby!!!
@JacobKustra2 жыл бұрын
Great video! Honestly this is a great topic to redo as it does change yearly! I think credit is one of the best tools that everyone should know about, literally a credit score could make or break a person's opportunities! Not growing your score could literally cost you thousands, especially because of missing out on low APR rates or even loan acceptances! Keep up the great work as always Sebby!
@AskSebby2 жыл бұрын
Totally agree!
@JacobKustra2 жыл бұрын
@@AskSebby Hey! In case no one has asked yet, how's your day going today?
@my1stlove1302 жыл бұрын
Wow look last month my credit score was 789 . This month Discover it statement 814. I feel so good, I’m helping my best friend build her credit now. Im so proud of myself, all self taught
@gb31132 жыл бұрын
Hey Sebby, I hit 800 credit score this year .. also got my first chase credit card.. Thank you for all your videos..
@kylemyhand72082 жыл бұрын
It's actually pretty surprising how much of the information that I already do without noticing, Im 19 and in college and was able to build up my credit score to about 750 (my parents didnt have me as an authorized user either). My first credit card was a Discover student card and i had been approved for $1,750 and then they gave me an increase to $2,100. A year later i applied for a second card which I was approved for $750 and then was given a $4,000 increase, I've watched alot of these types of videos and it feels good knowing im doing everything so far right.
@landocalrisian20142 жыл бұрын
Keep up the good work!!!!
@heavymechanic22 жыл бұрын
My cards are in a rotation to use each card every 2-3 months, some report a small balance and others get paid before reported. My score is bumping along like stocks with a stable company. My utilization is an average of 1% reported and on occasion get a single card above 9% and see a dip in the score. This is whats working for me with revolving cards and an installment loan, all in good standing.
@JohnPavlish2 жыл бұрын
I like the hat. Keep it in the future videos! My score got hit from doing several mortgage loan applications. I applied for almost every month for a year and the hard inquiry dropped my score from 790 down to 713 for one issuer. I was told the magic number to stay above for the best rate is 740, so that is to be considered while buying a house. I also applied for a credit card during the loan process and it did it effect my mortgage application. As long as you have a strong base of old cards you can still apply for new cards. One year with the dust settle my score numbered back up to 740-780 depending on the issuer. With the hard inquiries falling off next year I’m hoping to join the 800 club due to adding more credit and more older cards.
@rodrigosanroman58582 жыл бұрын
@@o.c.g.m9426 Hum. As a loan officer at a major bank... The loan issuer most definitely added points or some sort of closing cost to get you that rate with your kind of score. Meaning you definitely paid higher closing cost and the loan officer just lowered your rate manually just enough to make it look good, but you definitely paid for it. Unless you agreed to something less than 30 years.
@chrisp71102 жыл бұрын
Yeah Landlords are shady with that because they don't need to but they like to bully you because they see you are new to the game. It is ridiculous on how many types of shady things are out there from landlords that you need to basically take them to court.
@cryptocrack26822 жыл бұрын
That's why it's usually better to own your own home.
@davidsteckley88462 жыл бұрын
Actually scores don't matter much above a 750 if your not going for a mortgage or an auto loan. Just make sure you balance under 10% before you need a big purchase for a home or mortgage. Once they all report that zero balance, the next month your scores are up
@Nofacenocase1619 Жыл бұрын
What about for a personal loan or a business loan for cash???
@alexanderfigueroa39202 жыл бұрын
My credit score took a big hit recently because I bought a house and my student loans reflected my credit score at the same time. Im trying to get it back up to the 700s, but im stuck in the 650’s
@arey2562 жыл бұрын
I just opened a new line of credit and my credit score went down by 13 points. It doesn’t bother though because I know in a couple of months I should be at 820+ or at least I hope. Lol
@michaelreid88572 жыл бұрын
Normally, it will take about two months for the algorithms to digest a new account! Three months ago I got three new accounts in a 20 day period. I’m still suffering from that! 😳😳😳😆😆😆
@michaelreid88572 жыл бұрын
@@user-ub8mo7dr6c there are many factors used in computing your FICO score. Yes payments are important, but also utilization , history, mix and inquiries!
@unclerat21312 жыл бұрын
People should understand that the credit score is misnamed. It is the debt score, or how much more debt you can carry. It isn't about how well you pay off your debt. In fact, if you have no debt, your credit score is likely to be so low you will not get even an average rate on a loan. The history of credit scores is short and to the point. It is about being seen as a good debtor, not a good payer.
@jonanderson42802 жыл бұрын
You pay $8 for a cup of coffee in SF? Oh my!
@robsorbo2 жыл бұрын
I'm in a rebuilding phase after some "life happens" a few years ago. It's nice seeing it slowly trickle upwards. I probably won't get to play the credit card game or get another mortgage for a couple more years, but life is ok for now!
@christiantinsley49782 жыл бұрын
Get two secure cards from navy federal credit Union. Pay on time for 6 months and they with graduate to a unsecured card and raise your limit to 2K
@easy64272 жыл бұрын
One thing that most don't know is when you're paying off a credit card, DON'T pay it down to a 0 balance! Pay it down to $8 to $9 and repeat. You'd be surprised how quick your score will jump up doing this. Its the fine line between successfully using credit and not being involved enough to be beneficial to your score.
@jenniferjones21262 жыл бұрын
Thank you for this info
@sergiocervantes16622 жыл бұрын
so if I owe 100$, I should pay 92$ ?
@sergiocervantes16622 жыл бұрын
should those 8$ go onto the next month or balances ?
@easy64272 жыл бұрын
@Sergio Cervantes yes don't pay it to a zero balance pay just to $8 and keep it there....Basically you just use it for whatever and then continually pay it down to that $8.
@sergiocervantes16622 жыл бұрын
@@easy6427 won’t they charge you a fee for not paying it in full?
@mitchell.96322 жыл бұрын
Part of credit mix could be the number of active cards in the last six months for FICO as well.
@GhostRat__2 жыл бұрын
I bought 2 beds under a lease. Then bought my wife's 1500 and 1800 dollar ring. Then rented for a year Then leased out my phones and tv. My cscore is bonkers
@temp903 Жыл бұрын
Didn’t know about leaving a few dollars on the card so that the scheduled payment still goes through. Great tip! I’ll have to test that to see if it increases my score more.
@liztaylor85139 Жыл бұрын
I thought the same. I thought paying them off every month was better. Now I know to leave a little balance on them. let's see how this works out. How did it work for you?
@dricoirving32362 жыл бұрын
The single biggest thing I heard u say when I first started to follow you was pay your card before the due date🙏🏽🙏🏽 that's kept my utilization low and helped my scores increase
@coachang25732 жыл бұрын
How many days before the due date was suggested? (Thanks in advance😉)
@caitlynnhamilton80162 жыл бұрын
@@coachang2573 i would also like to know
@marisoljesus98622 жыл бұрын
How many days before the due date?
@JaeBTundra12 жыл бұрын
The big thing is paying more before the report date
@AnnaBanana33552 жыл бұрын
@@JaeBTundra1 when's the report date? Is that the same as the closing statement date?
@AnonymousGuy-ij3xi2 жыл бұрын
A really well, detailed and categorized explanation. I like the seriousness and answers to many questions, spoken so naturally. So I'm subscribing based on this and other videos.
@julioc49782 жыл бұрын
A good way to deal with utilization is to get a charge card... Cheers
@MathMadeSimple7772 жыл бұрын
Currently, 594 down from 620. Still bad but it’s growing now. I had a rough two years of job instability and it hindered me in major ways.
@TheLogan-ir6di2 жыл бұрын
I work with people and their credit history every day, and almost NEVER see a score over 650.
@ericnorthman30632 жыл бұрын
I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair
@MAG3202 жыл бұрын
I started with a chime secured card & held it for 8-9months. I also started seeing card offers afterwards. Merrick Bank was the first & i never even heard of them. They gave me a $700 limit, waiting to double by august. Credit One shown up next, Avant, Aspire & Verve soon followed. 3 major milest later hit which was Discover, The Home Dept & Citi, adding $9,500 combined limit. The inquiries may be high & the history is low for now, but as long as you dont use the cards much & keep the payments low, your score will skyrocket. I hit more milestones than i could count adter having bad credit for so long. I thought i throw my hat in the ring.
@leemcmullan2 жыл бұрын
HAHAHAHHA "why am I wearing this hat?" THAT WAS BRILLIANT
@TheTubeMeister Жыл бұрын
Whats weird is I applied for the American Express Cobalt card back in March. My score updated yesterday and it jumped 17 points. It never dropped at all since I applied. Typically it should drop after an application. But, I’m not complaining lol. What I’ve found over the years is that UTILIZATION is KEY! Keep it low if you can. Pay your bill super early.
@davidgutierrez59372 жыл бұрын
Why am I wearing this hat? 🧢🤣 Sebby always entertaining as hell 😂
@ShadowKingpin2 жыл бұрын
Another idea for putting small spend on your inactive cards, I highly recommend donating your small spend to charity. :)
@miyajij2 жыл бұрын
I do this, too! $10 donation per month (usually give more over the holidays) per "sock drawer"card and set for autopay.
@ShadowKingpin2 жыл бұрын
@@miyajij Yep!! I do the same thing :D I dedicate it sock drawer card to a specific charity that I am passionate about and leave them on autopay. I’m so, so glad you do this, too, as it goes a long way with helping others in-need out
@baddboo2 жыл бұрын
Eh been there, 850 on all bureaus… it comes and goes. ( it’s like shooting hoops alone )
@koreypaul66982 жыл бұрын
8:15 I got some "baddies but in the bad way" myself 😭😭
@traceydailey32542 жыл бұрын
I used to have 10 credit cards but if you don’t use them (alike TJ MAXX, Pennys, sears). They seem to cancel you. How to you manage to use 30 credit cards? What are the rules, do you have to use the card annually or quarterly or monthly to keep the account active?
@DoorDashers7912 жыл бұрын
It's weird because when you get 830 credit score you get denied.. And I said I got a 830 credit score they said that credit score has nothing to do with approval process....unbelieveable..
@DoorDashers7912 жыл бұрын
@@lucyandmark2117 thank you 😊
@sugarandspice21362 жыл бұрын
I believe it, it's true.
@olanizimmerman2 жыл бұрын
How can u get things removed from your credit report if you really do owe them the money???
@stelavazquez19182 жыл бұрын
Wait your caption says how to raise your score in 2022. But your intro says 2021? 🤔
@mikecharette92582 жыл бұрын
I have a 699, and basically learned nothing from this video on credit.
@ericnorthman30632 жыл бұрын
I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976 He helps with credit Repair
@mikecharette92582 жыл бұрын
@@ericnorthman3063 first of all a credit score of 850 is the best you can get so you are a liar!
@UnwanaUdoh2 жыл бұрын
This was awesome, thanks for sharing this 😀
@FE428Power2 жыл бұрын
I have some late payments on one account in mid 2020. Is time the only way to correct this?
@craigmilner9102 жыл бұрын
Do you still need help with this.
@officialjaluv2 жыл бұрын
Inquiries in the long run doesnt matter how many points. Companies will deny you for inquiries alone. So it still hurts.
@liztaylor85139 Жыл бұрын
So true! Before I started learning about credit scores I just wanted to get approved for cards and build history and payment history. But I've been turned down in the past with a decent credit score/history because of to many hard pulls. I've been told that if they are over a year it does less to your score and fall off after two years.
@officialjaluv Жыл бұрын
@@liztaylor85139 yep it does fall off after 2 years. Gotta play the waiting game before applying for anything else or applying for things that dont do hard inquiries like CUs who does quick loans etc
@krillissues51752 жыл бұрын
Having good Credit score is nice I built my credit score next from nothing from over a year so far I able get myself a car loan with ok interest rate
@sethlabiaux4202 жыл бұрын
As far as I know, the air force and navy check credit score as part of enlistment.
@minhdo28962 жыл бұрын
I didn’t know to leave a little balance. I thought pay it off sooner faster is better. Learn something new everyday.
@betruetoyourself71622 жыл бұрын
Why is it shady for landlords to check and base decisions on credit score? Jobs do it. Lenders do it. Being a renter is a big responsibility.and we should be judged on past history
@koreypaul66982 жыл бұрын
Your credit should be apart of their decision to let you sign a lease. It's shady to change the monthly rent based on the credit score.
@anthonysmith35932 жыл бұрын
yeah my score tanked 35 points cause i let my 1k limit card post with 509 BUT i did pay it off in full and gonna keep it under 100 this month lol
@michaelreid88572 жыл бұрын
Same thing happened to me when I charged $400 each on two $500 cards. Should have done those on my $7,500 card! Any way I paid them off and expect a ride this coming month!
@Jo-go8uj2 жыл бұрын
Okay SERIOUS question I been having about credit that I can't seem to find an answer to. So I hear a lot youtubers talk about "only use about 30% of your cards total" because using any more makes you seem "high risk" which slightly hurts your credit score. However, what I want cleared up is: say I have a $1000 dollar secured credit card, I make a $800 dollar purchase on it however, I make a $600 dollar payment towards my debt before the end of the month therefore leaving my total under the 30% mark, and i finish the payment off in the 20-25 day due date. With the context out of the way,, My question is: does it matter how much of the card you use if you're able to pay it all off within a single billing statement/month? Or should I ONLY use 30% (so $300 dollars) of my card until I get an unsecured card and build my limit? Sorry if it's a dumb question, I'm a 19 year old that's about to get my 1st secured CC and want to make sure I'm well informed b4 spending.
@Jo-go8uj2 жыл бұрын
WAIT I think I understand but I want to make sure I got it right. So, I CAN use like 80% utilization on a purchase as long as I pay off enough to where it's below the 10% utilization rate when they "take the picture"? So then all that matters is how much you owe once that report goes through? As long as you lower the 80% utilization down to about 10% or lower before the report gets sent? Am I understanding this correctly?
@MTV1995_2 жыл бұрын
The amex delta platinum has 90k sign up offer.. do you consider this a no brainer keeper card for domestic travel?!
@ngerales2 жыл бұрын
I have a 776 with 1 inquiry, avg 4 years and 6 months history, no late payments and only 9% utilization. Im thinking about getting the Amex Platinum card becuz I plan on making a big purchase, use the global entry credit, and go on 2 vacay in 2022. I also want to ask for a credit limit increase in my NFCU Platinum card from $14,500 to $20,000 but this will result in a hard pull. Should I apply for the Amex Platinum first or ask for the credit increase on my NFCU first?
@michaelreid88572 жыл бұрын
Dude with a 776 fico your sweating one inquiry? 🤔🤔🤔😆😆😆😆 It won’t matter, but if it puts your mind at ease. Your score drops further with a new account. So credit increases first, then new account! You easily can afford an inquiry every 60 days with that awesome score. Colour me envious!
@eaglesallday8o82 жыл бұрын
Thank you for your article on the chase credit card rules, i just got approved for 2 in the same month!
@vizualbandit53312 жыл бұрын
Is it possible to get a low 700 score if you have over 90,000 in student loans?
@supitschillbro2 жыл бұрын
Yes, that was me 2 years ago by making sure my utilization on credit cards was low single digit percentages, paying off in full every month, and not applying for too many too fast
@frosty_brandon2 жыл бұрын
Enough for 2 coffees, or 1 in San Francisco. 😭😭
@Michael-ok6pe2 жыл бұрын
Oh I thought Credit was like Golf the lowest score wins. Oh well. haha
@flexspec2 жыл бұрын
Love the videos. Been watching for years.
@AskSebby2 жыл бұрын
Awesome! Thank you!
@ee81222 жыл бұрын
?: I keep getting a “line” on my credit report too many cards with balances. I pay them in full every month.and never more than 10% charged. Cards active >20. So started paying them off prior to statement closing. Are my 0 balance bills not being recognized now as activity on my card?
@michaelswami2 жыл бұрын
The activity is recognized on your report. I use All Zero Except One as my strategy, meaning I allow one 1% balance to report. This appears to maximize my score based on the numbers and trend.
@lotsaspaghetticodejr.64882 жыл бұрын
My TransUnion score is 735 and my Equifax score is 654. Why is there such a big difference between the two?
@drobins19852 жыл бұрын
It's called control.
@DK-qd8yj2 жыл бұрын
some trades report more to one bureau than the other (common to have discrepancies); same thing with collections, judgements etc some will report to only one credit bureau as well
@maude1352 жыл бұрын
Depends on where you look. Look to see is the scores are VANTAGE score or FICO score. FICO is lower. FICO is also the one that lenders use.
@alaskanwhiskey2 жыл бұрын
@@drobins1985 agreed. at 534 for my morgage score but 618 in my middle score via fico. wtf man. Definitely broken.
@paranormaltester20362 жыл бұрын
Credit score on 2019: 570 credit score 2022: 768. Bin watching your vids seb and thanx for all the advice. I started out really bad but with your advice and hard work I manage to get out of the hole. Here is how. First: Capital 1 plat, Discover secured ( with $1,500 to keep utilisation down) first year. Up graded to cap 1 silver and Discover it. Then got Amex Cash Magnet. Now I got 1 X that accepted me for 16k wich help me get Citi custom cash, I am aming for the trifecta with Citi premier. I travel by car alot so my main spend is Gas, Restaurant and hotels. City is perfect for that. Thanx Seb for all the infor and knowledge you share.
@Szn972 жыл бұрын
How do I get my picture date ?
@ericnorthman30632 жыл бұрын
I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair
@craigmilner9102 жыл бұрын
Buzz me up.
@colinandmeg Жыл бұрын
Thanks for this! Totally need to boost our score asap!
@abdjames1372 Жыл бұрын
This video answered a lot of my questions I had about credit cards. Great content
@DoorDashers7912 жыл бұрын
Plus they tell you a credit score has nothing to do with anything
@TechniSean12 жыл бұрын
Very informative video, thanks. Been working on my credit for a while with only slow gains. Then my wife passed in July and my score tanked. Freaked out applying for loans trying to pay for the funeral and life halted. Performed some damage control and now I'm re-rebuilding but my score is still horrible, 585. Always been scared to get a credit card but now I'm thinking about it to at least accelerate my recovery. Any recommendations for a bad credit credit card? Update - Increased my score 90 points in 2 months by opening a credit card, keeping usage below 25%, paying it down each month, and doing the Experian boost. Thanks for the help and kind words everybody.
@mamat12132 жыл бұрын
Look into a low balance secured credit card, check out his other videos and go from there. Good luck and sorry for your loss: (
@nickeeg972 жыл бұрын
Sorry for your loss 🙏❤️. Try Capital one platinum, Merrick double your credit, credit one. Good luck 🤞
@toekneelorenzo29422 жыл бұрын
Sorry for ur loss
@17thUnicorn2 жыл бұрын
My sincere condolences, warm hugs and blessings 🙏.
@phyllisharris27662 жыл бұрын
Capital One Bank or a simple credit union…save your next tax refund and open a secured card for that amount then use below 30%.
@donnymonreal81112 жыл бұрын
I went from 340 to 677 now thanks your a big help
@landocalrisian20142 жыл бұрын
Bravo!!!!
@beatriz70642 жыл бұрын
How long did it take and how?
@donnymonreal81112 жыл бұрын
Well this is true facts i opened a capital one secured card deposited 200 and used that 3 months then i was approved for amex credit one card did that made all my payments ontime and basically made sure that when my report was gonna update i would my account at a low utilization first time points went up 240 then by 6 month i was at 677 but now im at 815 so i would ruffly about 7 months but ontime payments give good markings in your report ¹
@donnymonreal81112 жыл бұрын
@@beatriz7064 i replied
@raymarvelez Жыл бұрын
Thank you for this refreshing video really highlighting the keys to credit
@euge.sosa.b2 жыл бұрын
Question: is it ok to pay your bill early or should it be paid on the due date (my boyfriend insists on the latter), also what happens if you don't use the card at all?
@edgardorodriguez2 жыл бұрын
I have more than 31 card i am like 20/24 🤪 805 credit score
@stephen-finance2 жыл бұрын
Great video! With some strategy, dedication, and patience, it isn't that difficult for someone to get their credit score up.
@Alvin_19142 жыл бұрын
SATURDAY WITH SEBBY!
@AskSebby2 жыл бұрын
🙌
@jeremymoore4502 жыл бұрын
Sebastian, Been a long time followers of your channel. It has gotten so much better over the years. I loved this video and it was such an informative way to explain so much on the credit cards. I loved this thank you for taking the time. I had to figure out the same stuff for utilization and payments. I am rebuilding my credit now. In almost 5 years I am at 670 to 680 ish. I was at like 500 something after bankruptcy. I cleaned up my credit and have consistent with credit cards. I have some secured cards to help me and All cards I have are pretty good. Not like what you have but I am trying to prove now that my credit is better and now I am gardening for the most part. Love the videos hope to see more like this. Maybe some secured cards review and what you think and how much we should put down etc. Appreciate it.
@snavisTM2 жыл бұрын
Credit scores are relatively meaningless because of the different ways there negatively or positively effected... Lose points for applying for a credit card or loan.. yeah that makes alot of sense.. while at the same time your score isn't positively effected by things like paying your utility bills on time every month.. We're the ones who take this almost meaningless number seriously which in turn gives all the power to these soulless institutions. Oh and yes I do have a fantastic credit score before you ask.
@michaelswami2 жыл бұрын
Credit reports (including scores) are highly meaningful to their intended consumer, which is lenders assessing risk for purposes of making credit decisions. This should not be disregarded.
@fullmortise2 жыл бұрын
As a landlord it means a lot to me. Anyone 640 or lower I want nothing to do with.
@michaelswami2 жыл бұрын
@@fullmortise as an employer, I feel the same way, at least with respect to certain positions. I will not hire anyone who processes payments, does book keeping or accounting, or other financial position without looking at a report. It allows me to determine if they manage their personal finances properly as well as whether their might be a basis for temptation based on how much debt there is. I am not fixed on the score, but the level of obligations.
@pacs05082 жыл бұрын
@@fullmortise Every situation is different and numbers do lie sometimes. Maybe you can't relate or it's just strictly business to you. To each his own.
@fullmortise2 жыл бұрын
@@pacs0508 Give me an example, how do numbers lie? And put yourself in the shoes of a lender or a landlord. Do you really want to access your risk with out the credit score? Bad credit doesn't necessarily make a bad person but extremely ignorant or bad with money. Or a risk taker who fell short.
@eclecticdementia2 жыл бұрын
Myfico forums representing!!! 🙌🏾🙌🏾🙌🏾🥳
@DevonHolly162 жыл бұрын
The hat is killing me 😂
@michaelvaldez92172 жыл бұрын
sebby's great! currently at 680 with 24 cards, 30% utilization. also have my chase & amex trifectas thanks to your tips & videos. next to get my utilization back down to 10-15%
@e8702523142 жыл бұрын
Nice hat in the end lol
@JUS2CHILL2 жыл бұрын
Aloha Sebby, Thanks so much for all the great information. I was a mortgage credit underwriter for years & and I didn’t even know a lot of what you cover. I was able to jolt my credit score 70 points by following some of your strategies. It’s a GREAT 👍 thing your doing. And yes I’m still watching for more content, credit health and financial management is a journey and not a destination. Mahalo and Aloha. Jus chill’n
@takeauthority302 жыл бұрын
It's late payments on student loans for me
@kamillarussell91472 жыл бұрын
Hello Ericka, You need help with your credit??
@ericnorthman30632 жыл бұрын
I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair
@irrelevant22352 жыл бұрын
Using your example, is there any benefit in leaving $2.50 as your credit card balance on 'picture day' versus just leaving $1.00?
@michaelreid88572 жыл бұрын
Not really. Try and not exceed 5% utilization!
@Meyouletsgo Жыл бұрын
1-2% utilization is key !
@davidgantt73322 жыл бұрын
Wayne THE GOAT Gretzsky sais the quote about " taking shots" Love ya bruh and your channel :)
@aliahibarra52002 жыл бұрын
My credit score is 766 it dropped because I didn't realize each semester my student loans pulled my credit score. :( I cancelled my loan for my last semester so it would not happen again.
@lisafreebairn77362 жыл бұрын
My credit dropped significantly because I got rid of all my cards and paid off everything. I paid cash for my car and pay everything off immediately. This dropped my credit to 670. I am so angry that the system penalized me for being responsible. I went to refinance for my house and I could not get much of a break because of this drop. I have no debt. I pay a monthly mortgage payment every month and always on time. Don't understand why it is not even at 700.
@renee80072 жыл бұрын
Lisa, I did the same thing and was so mad. Learned to pay them off and cancel a few at a time so my credit wasn’t affected. Good luck and take care.
@ericnorthman30632 жыл бұрын
@@renee8007 I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair
@ericnorthman30632 жыл бұрын
I could give you a good recommendation bro where you can invest and get huge profit under 48hours and also get a loan he also helped me boost my score from 768 to 976He helps with credit Repair
@pengu63352 жыл бұрын
Because it's a game lol. You've just gotta know how to play it.
@yourfavpersuasion93852 жыл бұрын
what bout if you are stuck between the 720s-750 for a long period of time!?
@clockwork98252 жыл бұрын
U have some debt?
@yourfavpersuasion93852 жыл бұрын
@@clockwork9825 nope
@clockwork98252 жыл бұрын
@@yourfavpersuasion9385 ok. Not sure how to get ur score up. Paying off debt is usually a sure thing.
@Jaeboy2 жыл бұрын
Hey @Sebby. Is your spreadsheet usable by people outside of US? Our credit score is managed by TU in my country.
@FilmFactry2 жыл бұрын
Question: I have 3 Lines of credit with zero balances. as well as a couple Visas I don't actively use. Do I understand you correct, I would be better off just before the closing date. Charge something on them, and then zero them out say in a day or two? That would raise my score? You mention even a small $1 charge does the job? Good info.
@koreypaul66982 жыл бұрын
Yup, you could be leaving 15 points on the table
@michaelswami2 жыл бұрын
@@koreypaul6698 Agreed
@michaelreid88572 жыл бұрын
@@BenGaut excellent advise. I make it a point, once a month to go to Walmart with my garbage cards. Eggs on one card, a jar of Salsa on the next. Got to show payments and low usage. Today I charged a $2 charge on one card!
@111DAKIDD2 жыл бұрын
I don’t mean to high jack your post, but I am also trying to fully understand this concept. So, I have 14 credit cards and only 2 of them have balances on them. I do not use my other 12 credit cards but only once every 6 months or so [ just so they do not close them ]. The rest of the year they are at a Zero balance and unused … is this actually hurting my score? Should I be making small $1 - $2 purchases with each card every month and immediately paying them off… and if so, is it best to pay them off immediately or let the $1 - $2 purchase hit my statement [ picture day ] then pay it off before due date [ so I do not pay interest on the purchase ]…
@pengu63352 жыл бұрын
@@111DAKIDD Jeez, 14 credit cards? I have six and I think it's too much sometimes lol.
@mrassets53282 жыл бұрын
My score is 721 and my credit age and number of hard inquiries hold me back
@michaelreid88572 жыл бұрын
Do you mind me asking what your credit age is both on oldest account and average combined age? I’ve established a number of new accounts in the last year. My oldest accounts are only 10 months old (average age is about 5 months) and I’m having a hard time getting out of the low/mid 600s. I’m hoping another two to three months gets me closer to 720!
@billclarkson1572 жыл бұрын
Shady behavior by landlords…. You mean doing their due diligence and making sure they don’t get burned
@koreypaul66982 жыл бұрын
No, that's not what he's saying...
@angelapaz61592 жыл бұрын
I owe 4 creditors that are closed and I’m financing a car and my credit is 540 😩 I need the advice
@travisretriever74732 жыл бұрын
Knew I subbed to you for a damn good reason.
@alonsomendoza17752 жыл бұрын
the UPGRADE card is an open personal loan, similar to a creit card. it is a personal loan that doesnt close.
@urbannomadslife2 жыл бұрын
We need to build wealth not just credit.
@B.Nutter912 жыл бұрын
I paid off a loan on time but my credit score dropped?? Why was that
@lwinston59502 жыл бұрын
Good morning my credit score is only 690 I don't know how to get it up . I just got a home loan low interest rate , pay off all my bills in full before due date , car is paid off . What can I do to get it to the 800s