▸▸▸ www.365daystofire.com/ Enrollment is now open for our 365 Days to F.I.R.E. Program for 2025 Sign up and get: ◼ Completed F.I.R.E. Plan, Stock Investing Plan, Real Estate Investing Plan, etc. by the end of program ◼ Daily F.I.R.E. Actions ◼ Monthly Live Q&As ◼ Small Accountability Groups ◼ Quarterly Book Club ◼ 3 Meet-ups in Portugal, including a 2-Day Conference with us in Porto! ◼ Private Facebook group ◼ Lifetime access to daily tasks, recorded live Q&As, recorded book club meetings, Facebook group, and resources ◼ Discounted future meetups as 365 Days to F.I.R.E. program alumni ◼ And more! To learn more and enroll NOW, go to: www.365daystofire.com/
@LongtowerNyc3 жыл бұрын
Followed this exact strategy and my score jumped 50 points in 30 days! Thank you sooooooo much for this video.
@OurRichJourney3 жыл бұрын
Fantastic!
@alecflanagan1793 Жыл бұрын
This is great! I have a question for you guys. Is credit card utilization updated each month? Let’s say I owed 25% of my credit one month. But the next I only owed 5%. Would my overall credit score improve based off of 5% utilization moving forward?
@wiseman41604 ай бұрын
According to Equafax Canada if your utilization is above 50% any day of the month, it affects your credit score.@@OurRichJourney
@rinnieweston47334 ай бұрын
My credit was stuck at 6:16 no matter. I paid on time it stayed there. I did what you said in a short time. My credit is now 670 on my way to the 700s. Thank you
@ganderson2073 жыл бұрын
This really works, my score went up 108 points and this is the first time I have used your advice. Thank you guys for this video!!!
@yazmineburton5714 ай бұрын
Was that during the course of 3 month spand?
@yourhighness47465 жыл бұрын
THIS IS EPIC, I PASS MY WHOLE DAY WATCHING YOUR VIDEOS, I SINCERELY THINK THAT YOU BOTH HAVE A GREAT MISSION EDUCATING PEOPLE THAT YOU ARE THE ARCHITECT OF YOUR OWN LIFE. THANK YOU 💕 💖 SO MUCH AND GOD BLESS YOU ALLWAYS.
@calgoo81022 жыл бұрын
Hi Anmad and Christina, to clarify is it good to show a percentage of 1-29 by the due date versus 0? The reason for the question is if it's paid off in full at the close date would it not be looked as inactivity?
@The1142144 жыл бұрын
Omg! I was $10,000 in debt, I was able to pay off almost all of my debt off but noticed my credit score stayed the same!! Now i know how I can improve it!! Thanm you so much!! You guys are amazing!!
@Spacecrust4 жыл бұрын
This was perfectly clear. You guys rock! Thank you
@paulcarlo21483 жыл бұрын
Never has it been so clear. They should teach this to 10-12 graders
@calissahalpern84265 жыл бұрын
Thank you for this video. I’m 29 and have started my own financial independence journey. I spent the day going through all 3 of my student loans and my credit card account and made a calendar of all the statement closing dates. I’m excited to see the effects on my credit score and it really made me look at how much I’m spending a month on just these alone and how to better allocate my paychecks.
@OurRichJourney5 жыл бұрын
RIGHT ON! Congrats on taking charge of your finances and starting your journey!
@iriatanee3862 жыл бұрын
This was such a comprehensive video! I accidentally maxed out an old CC forgetting the limit was so low, paid it off completely but it sunk my credit score 74 points!!! I will never used so much again
@wardencobb74424 жыл бұрын
I'm pretty sure the utilization rate is calculated on the actual amount in the transactions regardless of payments made. If you have a limit of $1,000 and you borrow and pay $100 ten times, your utilization is still 100% And if you have multiple cards, I'm pretty sure the utilization algorithm accounts for multiple cards and applies a mean average against your lower limits and then reports negatively if you're accounting only for individual card utilization instead of the mean average which will be less than 10% on each card, meaning it'll report negatively against your score... But it's not enough to worry about for most people... But I grew my credit 134 points in 3 months by considering this in my spending habits, so I think it works. I have 2 cards so I subtract 12.1% from each cards available credit and I stay below that dollar amount and they report extremely well. Just a thought.
@neox26565 жыл бұрын
I wish KZfaq would allow you to like a video as many times as you want. You guys are a huge inspiration to alot of people, myself included. Keep doing what you do. Thankful for people like you!
@OurRichJourney5 жыл бұрын
Aw, thank you Nora! You are way too sweet! :)
@Anne-sr2xx5 жыл бұрын
My husband and I are migrating to the US and this by far is the simplest yet very easy to understand video about credit score that ive watched. It’s such a good start. Thank you!!
@OurRichJourney5 жыл бұрын
minnette anne Hamtig - So glad you found the video useful!!! Thanks so much for sharing your comment!!!
@diannelockard53845 жыл бұрын
OMG I am so glad I stumbled across your videos. I just pulled out my old statements and never noticed the closing dates before or I just didn't understand the concept. Thank you for breaking it down in a simple form. I will definitely start to practice on my next statement. I have been paying off my debt but usually on the due dates. and really have been working hard it increase my credit score and get as much as possible debt free...
@OurRichJourney5 жыл бұрын
Lovely! So glad you stumbled upon our videos and that you like them. Here's to 2019: Raising your credit score and getting as much debt-free as possible!!! :)
@Liz219884 жыл бұрын
Thank so much for including visual aids with your explanations. This is the best video so far in explaining credit utilization!
@OurRichJourney4 жыл бұрын
Wow! Thank you for the compliment!!!
@hazaus282694 жыл бұрын
mainengv I agree!
@Jasmine-rw2xu3 жыл бұрын
@@OurRichJourney What if my due date is before my statement closing date???
@naturallylii3 жыл бұрын
Wow, one of the best videos about CC utilization out there. I don’t have to search for anymore videos...completely understand
@OurRichJourney3 жыл бұрын
Wow! Thanks so much Liyah!
@bethschultz9225 жыл бұрын
I am absolutely captivated by your videos. I have always had a hard time understanding how credit reporting works for credit cards. Thank you so much for the great explanation!
@OurRichJourney5 жыл бұрын
Thank you so much. You just made our day. So glad you are enjoying our videos. And let us know if you want us to explore a topic for you in a future video.
@alteredillusions1005 жыл бұрын
I totally agree, once I understood utilization and put it into practice my credit score skyrocketed in 30 days!
@OurRichJourney5 жыл бұрын
WOW! Thats amazing! As my Mom would say, "knowledge is power"
@edunlap65945 жыл бұрын
Really??? I thought it took longer.
@christopherm59582 жыл бұрын
Brilliant guys. Many people are under this incorrect impression "as long as I pay it off on time I'm fine". Wrong wrong wrong. Thanks for pointing out utilization!
@nextlevel71085 жыл бұрын
Also remember that building credit is like a monopoly GAME and that the card is not to be relied on to live. If you can’t live off your income then you won’t make quick increases in your scores 😁😁🙌🏽🤘🏾👌🏽
@thomasreedy47514 жыл бұрын
I alternate between two different credit cards. They have different due dates, but I always pay them off at the beginning of the month and switch to the other card. This way, I never have a minimum payment, and I don't have to worry about a card being canceled for disuse. What I noticed is that my credit score goes down about 20-30 points when I pay the one off due within 8 days of the due date. When I looked closely at my credit report, I noticed that my credit utilization is typically calculated as N/A during this downturn. In other words it looks like, a 0 utilization may have a slight negative impact on my score. So while I agree that paying off high balances before your due date is a good idea, it may help to leave 1-2% on your card to pay off on your statement closing date.
@reinaldomartinez132 жыл бұрын
yeah that's the pitfall i've gotten into, I spent 0% and my score dropped 16 points and when I raised it to 8%, i'm trying to find the sweet spot of where it can be maxed out.
@michaelswami3 жыл бұрын
Thank you so much. Credit utilization is so easily managed, yet not the focus of many. You can't really control age of accounts, or old missed payments, but you can always control credit utilization.
@Tee-sr9yf3 жыл бұрын
I heard keeping a small balance before closing date helps better because when its reporting 0% utilization it looks like the card isnt being used 🤔
@KingReeBeats4 жыл бұрын
So if I have a credit limit of 500 and use 450 dollars of that limit and pay it all off before the due date my credit utilization will be at 0% ? Or should I only use about 45 dollars on that card and pay the $45 off before the due dat to maximize the 30% ratio ?
@nextlevel71085 жыл бұрын
Wanna know a cheat code: doesn’t matter the card limit, use below 30 or 7percent on the first and pay that sucker off the following week Monday then put that card down and next time you use it is after the bill cycle pass.😁🤘🏾💯
@MrHALFPITT3 жыл бұрын
Smart suggestion,if it really works
@Jasmine-rw2xu3 жыл бұрын
What if my due date is before my statement closing date???
@jlclarkeprojects3 жыл бұрын
@@Jasmine-rw2xu this is my question too. I think if you just pay it off by your due date that's before the statement closing date. The statement closing date versus due date thing is confusing. But I think it's just always that the due date is before the statement closing date.
@lashun1st2 жыл бұрын
Should we use below 30 on each individual Card if we can afford 2? Or a total of 30 from our credit?
@taybandssss3 жыл бұрын
Yeah my credit score is definitely stuck in gear it won’t move past 1 point each month 😩 I appreciate you guys for explaining I’m taking notes 📝
@berlinbooth9024 жыл бұрын
Thank you so very very much this is so very helpful. I been paying off my accounts did not understand why or how to bring my score up. Thank you. I was never late. This also effect the interest that they charge on your credit cards because my interest is high even though my credit limits are high 15,000,and 16,000 m others are 5,000. I will start this immediately
@HawksNestYT4 жыл бұрын
So I just got a BoA card solely to build my credit. Is the best strategy to put some of my small monthly bills (Netflix and other small subscriptions) on it. Then just pay it off whenever I can? I’m having a tough time finding out how to setup automatic payments to make the process as automated as possible. Do you have any advice?
@kobesn1fan243 жыл бұрын
Pay subscriptions with debit card, and keep the other purchases on your credit card 10-30%. If you wanna use Experian boost or a credit booster in the future, it checks your debit accounts and subscriptions which can definitely raise your score 20-50 points easily
@lzshow3 жыл бұрын
So u can pay it off in full it just has to be done before the closing date?
@ginalex4life5 жыл бұрын
That means I have to find out when is my statement closing date. No wonder I'm not going anywhere with my credit score. I pay on due date or a a day before every time 🙄😩😬 thank you guys so much
@OurRichJourney5 жыл бұрын
Thats okay :-) You'll turn it around now that you're armed with knowledge ;-)
@TheDonYG5 жыл бұрын
shhit, IDK mine. I just got my card last week, my due date is the 19th of sept.
@re94734 жыл бұрын
Yeah same here I’ve been stuck at 700 I definitely paying off my balance on my credit cards in full before the due date and keep it at zero balance Until the report date which is two days after due date But I definitely was spending more than 40% 🤦♂️
@iceboogie8274 жыл бұрын
What if you have 5 credit cards and total credit limit is $40,000???
@jakereed82824 жыл бұрын
I was told never leave it at 0% if you pay before the statement closing date leave between 1-29% that shows the credit bureau that your using your card but if you wanna boost your score big time pay down between 1-7% then pay your remaining balance before the due date.
@scorpion777silvermoon35 жыл бұрын
Inactivity they just might cancel it. pay it before statement date. Got it WOW GREAT advice thank you
@OurRichJourney5 жыл бұрын
Thank you!
@keith92402 жыл бұрын
Paying your credit card before the statement due date works great as long as you are paying the balance down to zero. Otherwise, as far as Experian is concerned your score will go down not up.
@infinitefrets3754 жыл бұрын
so to summarize if the credit cap is $2000 and you use $1000 AND you pay off those $1000 before the statement closes, you’ll be correctly applying this technique? It doesn’t matter that you never went up to your actual credit limit of $2000?
@yasminromero73763 жыл бұрын
See so many videos but this one was the only one I was able to understand…..THANk YOU soooo very much.
@essentialeverydayseastar77364 жыл бұрын
You guys deserved that thumbs up 👍🏾 Thanks 🙏🏽 Very well illustrated 💫
@barbaraleszczynski22144 жыл бұрын
Thank You....Your information was simple, clear and concise! Why couldn't I get this simple info from anyone else? You guys helped me understand much! Thanks again!
@tanveerafzal58685 жыл бұрын
Aman & Christina, you guys are doing an amazing job of educating everyone. A BIG THANK YOU!
@OurRichJourney5 жыл бұрын
Thank you so much! Its absolutely our pleasure :-)
@thegamingchef33043 жыл бұрын
Earlier this year I got a Credit card from my bank. I had to start with a 300 dollar card because I just couldnt get approved for a regular credit card. I had to put down 300 to get it. Its totally worth it...When I loved in Houston Texas I went to get a car...Dude said I wasnt approved, but that I didnt have bad credit, I just didnt have any credit. I paid Cash for everything. But with that card in 8 months I incresed my credit score by 100 points. I make my payments on time, or as they said, before the due date. I had actually been experimenting...I almost maxed out my card then we'll before the due date I paid like 285 of it and my score increased 54 points couple days ago...Thats if course along with the increase throughout the year. Like they said you want to use it here an there. Make small purchases, like a meal at mcdonalds or some gas etc. Then soon as the charge hits your card pay it off.
@mantalk50244 жыл бұрын
The best video I seen when it comes to credit cards! You guys rock!!!
@SundayBlues5554 жыл бұрын
The closing date of my card is the 4th of every month and my due date is the 1st of every month. When would be the best date to pay my bill? between the 1st and 4th, correct? I appreciate this video. It's very helpful but my dates just seem a bit off.
@ParqForrest4 жыл бұрын
Great video! All of my credit card closing dates are 4 days after the due date.
@TheTostageamikey3 жыл бұрын
Okay now that makes sense. It’s not about only using 30% of your credit limit. If you want to use the entire limit you can, but it has to be paid off by the time the credit card company reports utilization so that they report a 0% utilization correct?
@JHawkTV4 жыл бұрын
Someone just told me to pay it down to 1 or 2% before the statement date because it shows lenders that you like to take a risk but good. Can you comment on this? Also they mentioned to pay on the card twice a month? Lastly, why does the utilization rate report come BEFORE the due date and on the statement date? I’m asking, why is this a trick, shouldn’t it just be a rule for credit card companies to make sure users understand this? Thanks so much. Gave a like.
@yolandaingram73783 жыл бұрын
This was excellent and so clearly explained. I didn't realize the significance of the statement closing date until now. Thank you!
@rubylady06194 жыл бұрын
I absolutely love this video!! My closing date is 21st and my due date is the 18th...so when is the best day to pay? Maybe the 16th???
@tiab113 жыл бұрын
16-18
@markconde44 жыл бұрын
Made great sense. This is what my wife and I are hitting hard right now. Don’t know if I can reach out to get just a little more detail questions answered. Thank you
@destroya33035 жыл бұрын
I made the mistake right after college of cancelling all my credit cards. Because of previous bad marks it kept my credit score low, right where it was after college. So I recently applied for a new credit card, and have been monitoring utilization rates. Credit score is already up 33 points after 1 month, and this is before the first payment due date.
@OurRichJourney5 жыл бұрын
That is great! Thank you for sharing!
@mangoesnbreadfruit013 жыл бұрын
Thank you so much for this info! I had never heard of a credit ratio before! I will apply this knowledge. Thank you.
@ozdoits3 жыл бұрын
@ourrichjourney Please will you consider offering another video, or series, which is purely about raising credit score in every way possible? It can be so confusing! Also as you well know, there would be different approaches needed for a variety of card holders in several different common financial situations. Thanks if you'll consider creating and offering this along with your other wonderful beneficial educational content! So many thanks for ALL you so generously provide!!! Grateful 🙏🌼!
@anaviig2 жыл бұрын
I LOOOVED how you explained this!! :) Thank you!
@KMAAcademy20203 жыл бұрын
My new favorite channel!! I pray you continue to receive health, abundance and prosperity 🙏🏾🙏🏾
@eliyahmuhammad3564 жыл бұрын
Wait are you guys contradicting yourself lol ,I'm lost so if I use half of my credit and pay it off on or before my payment due date I will have 0 utilization ?
@stefaniaguaman27425 жыл бұрын
This is so helpful! Thanks for making this video. Implementing it right away!
@OurRichJourney5 жыл бұрын
Our pleasure and congrats on taking action!
@yazmineburton5714 ай бұрын
Thank you guys so much! I seen ny score increase by 56 points doing this. My question is if i keep it under 10% each month, will the credit score keep increasing or stay the same?
@LindaZinn5 жыл бұрын
I have various credit cards. Does the Credit Utilization Score calculate each credit card for the ratio or just the overall credit one has versus the balance. Please let me know, and thank you so MUCH for this information. I have subscribed!!!!
@puggie10003 жыл бұрын
So don’t pay before due date pay before statement date which’s means interest would be charged and there would be more to pay before the statement date ... am I correct
@ebony5114 Жыл бұрын
This is the biggest problem im having a hard time understanding, If my credit utilization is reported as 0% when the statement is due how then will that help my score? is there more being reported?
@michaelbatts7354 жыл бұрын
Thank you so much. Awesome information that i had no idea of...
@ismaelosman98484 жыл бұрын
Please move the music the reste is 100% good
@SpaceCredits4 жыл бұрын
Should we increase credit limit to make the utilization rate smaller?
@sosa30172 жыл бұрын
Yes
@naseibonsu81202 жыл бұрын
This was a great breakdown! Very simple and easy to understand. Great work !
@ariannasmithytc2 жыл бұрын
I’m confused. How do we pay the money back? Do they take it out of the money that you have left on your balance? Or you add money on your card to pay it back? Someone please help me. Drop the knowledge.🔥
@kdholden5 жыл бұрын
VERY HELPFUL Information! Thank you!
@OurRichJourney5 жыл бұрын
Thank you! So glad you like it! :)
@Ryan-ez7jn3 жыл бұрын
But if you pay it off in full before the statement due date and it shows a credit utilization of 0% wouldn’t that count as inactivity? In the video they said not using your cards is not a good idea, so wouldn’t it be better to just ensure you have a small amount owing by the statement due date so the credit companies can see that you have in fact used some of your credit and have a low credit utilization rate?
@addis39663 жыл бұрын
Credit cards are so complicated, thank you for this helpful information!
@pageonederful94794 жыл бұрын
This is SO helpful. Now I can understand why the card company would slap the next bill a couple of days after the due date. And it probably lower the interest/increase the principle when you pay it a week early. Does this method work if you use automatic payment?
@lovelyjay_22255 жыл бұрын
The Example you gave was confusing. Ex : My due date on my credit card is on the 1st of each month, my statement closing day for the card is on the 4th of each month . How is your bank statement closing day before your due date? my statement closing is after my due date... If so , don’t you have to watch out for interest also? ...because the total balance have to be paid before the due date so no interest won’t be charge on next month bill...Furthermore Does using 1%-5% utilization of your total credit card before the statement closing date helps also?
@charlesglass35065 жыл бұрын
So I think what they are saying is this. You have to actually pay your new charges off before you even get your new bill for those charges. Look at the video again starting at the 4:00 minute mark. The closing date they are talking about is the closing date BEFORE you get the bill. For example, your closing date is on the 4th each month. Let's say you had new purchases starting July 5th for a total of $500. Those new purchases will not even be billed to you until August 4th(that is your next closing date). But on August 4th, the credit card company looks to see how much you spent out of your total line of credit up to that point and determines your credit utilization rate. It doesn't matter that you haven't received the bill yet for those $500 new charges. If you spent $500 before August 4th(even though they are new charges and you haven't received the bill), they are using that to calculate your credit utilization rate on August 4th. It doesn't really seem fair because you haven't been given the opportunity to pay it off yet, and you haven't even received the bill yet for those charges. So it sounds like to me you have to know what you spent up to the closing date and pay those charges off before the closing date, before they even send you the bill. It doesn't matter that you eventually paid it off in full by the September 1st. Paying by the due date is just the credit card company not charging you interest since you paid it in full. But let's say you did pay that $500 off by September 1st, and you did not make any new charges from August 5th to September 4th. Then on September 4th the credit card company looks and see that you are utilizing 0% of your line of credit. So they will report 0% on September 4th.
@juannoriega64713 жыл бұрын
What if you have 4 credit cards. Are you suppose to use less than 30 percent on all of them?
@tiacapri2 жыл бұрын
With paying down my ultization, will my score increase faster if I pay my balances off fast like 90% to 10% or gradually like 90% to 60% to 30% to 10%?TIA
@Anthonyjones-pq4ff Жыл бұрын
What I was a AU on someone credit card in They ran their credit card utilization up to 30% would my credit be affected my credit score drop ?? Nice information to know
@dariapio15025 жыл бұрын
You guys rock! I have gained financial knowledge from subscribing to your channel - thank you so much!
@OurRichJourney5 жыл бұрын
Thank you! We'll keep it coming!
@natalieray1772 жыл бұрын
Will doing this with my open accounts help make up for a lot of hits my credit has taken over the past years from certain accounts landing in collections that haven’t fallen off quite yet?
@denciomanglona86114 жыл бұрын
Wow. You guys are amazing--best explanation I've heard. Im gonna follow these tips all the way.
@Ben-ug8fb4 жыл бұрын
Im confused for me my due date for my card is the 19th if each month but my statement balance is the 22nd so my due date is before my statement balance date so when should i i pay to reflect the 0-9% utilization?? Help
@aquaman75164 жыл бұрын
I'm so confused...if I spend 50% of my limit...then pay it off before statement date...what's my utilization??
@OurRichJourney4 жыл бұрын
0%. Because the what you spend never registers with the credit agencies as utilization.
@Jason928814 жыл бұрын
Yes In theory you could max out your card and then pay it off before your statement date and then your utilization would be 0 not 100%. Credit bureaus only look at what your balance is on the closing date in relation to your total line of credit across all your credit card accounts.
@katiemadison79784 жыл бұрын
Yes listen to what @JayStayHip said but carry a balance, say ur limit is 2grand like you stated. Pay it all the way down under 10% and carry that 10% and under balance for perfect utilization.
@bluehunnids8874 жыл бұрын
@@katiemadison7978 so it's bad to keep a 0% utilization?
@shortypoppin893 жыл бұрын
Yeah what they stated was some what wrong, you can “I don’t recommend “ but can use 100% of your credit limit and as long as you pay it all off before the due date then 0% will be reported to the credit bureaus. I recommend only using 30% percent of your credit limit and paying it off.
@thrash2083 жыл бұрын
This is great but I find it a little confusing. So if I have a $500 limit 30% would be $150. But if I say use it for gas and pay it off immediately and do this before my date it doesn't matter how much over I went with my ratio?
@williehutch033 жыл бұрын
How can look at my CC statement and figure out the statement closing date? Or, do I need to call them to ask?
@AnonZero0 Жыл бұрын
*Thank you.*
@saphia70824 жыл бұрын
What if I don't spend my card on anything, then wont it be reported as 0%? Which will achieve the same result? :)
@kalani19872 жыл бұрын
Does the credit bureaus consider total credit available from all cards to figure out the utilization?
@juniorsal6112 жыл бұрын
So basically if i have a $500 limit, i should only be spending about $200 and paying it before or on the due date? If when i do pay it, do i just go back to using the card like regular?
@aliceandtherabbit98292 жыл бұрын
Hey journey, I what is a realistic figure of credit point increases for new credit lines that utilize this correctly over 6 months?
@Zhello794 жыл бұрын
Ah ok, I always thought it was pay off the balance before the end of the month, not the statement date. All this time I didn't care about the statement closing date, and only focused on the due payment date. Unless depending on the credit card company it differs, right? 🤔
@ebonyburnette42113 жыл бұрын
Do I need to use 9% on all cards or just choose 1 card and use it? How will inactivity on the other cards look?
@jamessimmons39215 жыл бұрын
Hello, i had a 750 credit score, went over my limit twice in a month and my score dropped by 91 points, but i always paid my bill on time, is there a way i can get my score back in a month or so?
@OurRichJourney5 жыл бұрын
Yes! The key is not only paying it on time, but ALSO paying it before the statement due date. If you pay your credit card balance in full before the payment due date, you reduce your credit card utilization rate. By reducing your credit card utilization rate, you will drastically increase your credit score! :)
@Vision42_3 жыл бұрын
Thank you guys so much, this really helps
@OurRichJourney3 жыл бұрын
Thanks David! So glad it helps!
@edward10413 жыл бұрын
I'm sorry that you got 37 haters!! That was great.
@yvetterivera30395 жыл бұрын
Amazing! Did not know this information thank you both for sharing. ❤️🙏🏻
@OurRichJourney5 жыл бұрын
Thank you! We are so glad you found the info useful :-)
@smagumise5 жыл бұрын
What if you get more cards and dont use them or use them minimally. Would that improve your rating as you are increasing the available credit but keeping utilisation low
@OurRichJourney5 жыл бұрын
It not about how much credit its about how of your credit is being used. So if you just had one card but paid it in full before the closing date your utilization would show zero percent(0%), which would be awesome. We don't recommend getting more cards because if you don't use them that is "inactivity" and the card company will close the card if you are inactive for too long.
@WhoIs_TK3 жыл бұрын
Thank you for the clarity!
@bigmovez4 жыл бұрын
Guys thank you so much for explaining... Thank you!!!!!
@raeneshajackson5 жыл бұрын
Thankyou so much for this ! It gave so much clarity
@trev54344 ай бұрын
But you never wanna pay it in full before the statement date.. cause it’s going to appear as 0% aka inactivity
@sayedelgharabwy4423 Жыл бұрын
Do o got point for each credit card that i paid or total of them
@jeffw83694 жыл бұрын
Is it better to have 0% utilization or 5% when the card reports to bureau?
@LoneStarStinger4 жыл бұрын
Just received a Credit card from Self. There’s only $200 on it. I ONLY have it to try an build my credit. 29% of $200 is $58. Most people say keep it under 30% but you’re saying under 7% and pay it off before closing date? So basically I should just buy 2 Starbucks coffees every month and then pay it off immediately?
@Rebeca-sh1qv3 жыл бұрын
Thanks so much for this video! My due date is actually 4 days earlier than my closing date, does that change how I should time my payments? Thanks again
@bringerofthedawn55443 жыл бұрын
Hi guys... so my statement closing date on my credit card is a whole month before my due date..... how do i proceed??