It's actually better to apply and get 5 cards in 5 months than your method. Average age of account would be 5 years in 5 years. With your "wait for a year" thing, in 5 years, your average age of accounts would be 3. Credit score to the top is a long term game. It's fine to lose short term.

I have 2 credit cards my FICO score is 785...I pay on time and keep my utilization under 30 %

Love you’re videos!! After watching I raised my credit score from being inactive to a 710 in six months!!

Hi Missbehelpful 😁! This is crystal crawford. thank you so much for answering my question. P.s. I'm glad I only have 2 credit cards only for now! I also went back and rewatched and reviewed the video you mentioned. Thanks so much for your help.

Nah, I wouldn't apply for a card every year or two because then you'd accumulate inquiries which will stay on your account for at least two years each time. That means you will probably have multiple inquiries on your credit file for years and years. It's better to open a few cards or apply for a few forms of credit all around the same time, because the credit cards (and credit) you get will all age at the same time. And more long-term credit with multiple accounts is better than one or two cards of long-term credit. You will keep those inquiries down and show that other companies trust you with credit. Just don't go crazy or get slack when it comes to managing your credit and finances. Remain steadfast and responsible. On a side note, if a person starts with a secured card as their first form of credit, do all you can to keep it. Longevity is the key. And, for many people it will be your oldest form of credit. Eventually, you can get that card account unsecured, increased, and have your money back. But, don't get rid of it. It will hurt your score if you cancel it.

It depends on your strategy. If you open a lot of credit cards early on it can help you build a long age of credit later on.

I have 7 I’m working lowering the usage trust me it works!

5 to 10 cards that u manage well shows that you're trustworthy and Responsible on managing your finances. I usually pay mines off or half or the balance each month. Creditors want your utilization to be up then see how you'll handle your debt quickly with on time payments and I never eva pay the minimum due.

I think it varies from person to person depends your credit goals. You can have a lot of cards what’s important is how you use them. What’s good about my 6 cards all closing dates are the same.

I opened up about 4 cc and 5 loans this year. I've paid off 2 loans and have under 5% cc utilization right now. I am aiming to pay off 3rd loan by June 2023. My score has increased despite my opening of new accounts.

I think most people that get multiple cards are simply trying to chase benefits/rewards and getting more available credit. Increasing your available credit allows you to use more credit while keeping utilization low. It's not how much money your putting on cards that matters as much as the percentage of credit utilization. If I have a total of $1000 credit I can use up to $100 and be at %10 or less utilization, but if I get two more cards that both have $1000 limits, I can use up to $300 each month and still be at %10 utilization. None of that really matters tho if you are paying it off before it reports on your credit, because they will only show what's on your account at the time of reporting...

I was good with not having many credit cards and my FICO score was 807. However, I applied for a credit card to shop at the company I work for and was turned down for having an insufficient credit file. I had 3 credit cards at the time (1 for 11 yrs. 4 mo., another for 8 yrs. 5 mo., and the third for 2 mo.). No installment loans left on report. I read online that less than 5 credit accounts on the report can be considered a thin file. So, now I have 4 credit cards and a small personal loan.

Seven is probably optimum. Just like a cross-country team: 5 scorers and 2 displacers.

I don’t use 3 of my credit cards. What should I do? Wait for them to close or close them myself?

What if I open a ton of credit cards because I want to benefit from that 10% cash back promotion that they each offer? That is not being desperate for credit. That is being smart and maximizing my retruns.

Not true in my opinion you have to take a step back to take 2 steps forward. You should have atleast 5 credit accounts and you should open them as fast as you can to start building your foundation of credit history. If you already have a average score and nothing to lose, apply for as many credit accounts as you can in a day and ride out the inquiry hit to your score as its removed after 2 years and use what your approved for over that time. I applied for 12 credit accounts and got approved for 4 more accounts in 1 day the inquiries and new accounts hurt my score but the inquiries come off in 2 years and now I have accounts I can work with to age and improve my score in the long run.

It so rare to find a women whose gorgeous and financially responsible.....I really hope you know your self worth

I trust you. Showing these videos to my wife right away! Great job on the information, thank you!

Thanks for making this soon to be adult a smarter one! I'll be sure to use everything I learned. Awesome video.

Missbehelpful... thank you so much for all the great advice, I really appreciate your help.. keep up the great work!

That’s why my credit is going up fast with 21 point each month with the age credit I have for 7 year

Thank you. I really needed to know this.

Been rebuilding since Jan 2018. I have actually just got my 8th and 9th credit cards this Jan 2020. It only made my score drop about 4 points. I'm more focused on the total available credit that I have. All of my cards are low limit but they add up to $5500. Good for small emergencies... I keep my revolving balance at 10% and under. I always pay in full!!

Wow I m in love after watching ur three videos

Thank you for the great job Learning so much

It's good to know :) I have a credit card from the early 1990s that I haven't been using because I didn't want the rewards for. GM automobile.

the biggest part of your credit score is payment history 35%. Would it not be better to get a bunch of cards and pay them on time to get good credit history?

My Score is 853. My oldest card is 10 years old. I don't use it. I just keep it open because it's my oldest card. The amount of cards you have does not matter as long as you pay them all off on time. I have 9 cards and I tend to open a new one every year. I have 1 card for every category of purchase I have to maximize my points. If a new card comes out thats better that one I use. I'll close the old one (Except my oldest) to use the new one. WORSE THING about opening a new card is a 4point dip. But once you payoff the card at the end of the month you get those 4 points back. If you apply to too many cards at once you may cause a red flag. Try not to apply to 4 or more at once. It's easy.

I like how you talked about habit. I think habit is very important when it comes to money and responsible use of credit and debt. Saving and what i spend money on. I worked on my habits with money and saw huge results this year.

I've had 3 cards at one time. In my whole life I've had 5. Now I have 1 and my credit score is 844 I think that has to do with my house and car payment. Took me 15 months to lay off my car and well my house helos as well but I'm looking forward to paying it off in 10 years. I'm 31 by the way

helpful insight

Only reason I opened many cards is my to raise my limit if I need it that’s awesome I’d love to be able to use my 10% 30% too pay my bills each month and reap the rewards screw a good score I want a dope limit and all the rewards but also my score has never dropped below 745 but let’s be real here a good score isn’t paying you anything. Especially when you are like me and the only thing you are leasing is a house everything else is paid in full new cars trips purchases all put on my cards and next day paid off very rewarding. And my limit just keeps growing with a high limit utilization management is way easier. I want that 10k limit then I can pay that mortgage wash month via cards get rewarded just adding up and adding up you blow 20$ on a new shirt I don’t they buy it for me. My gf wants a new pair of shoes I don’t have to pay for it my credit does. My mortgage is only 800 a month with a 4% rate. I’m getting 1 dollar back every what every five dollars I spend. Plus with the Roth my rate is almost nonexistent. After everything’s said and done. Screw a score HUSTLE and don’t settle for anything less then what you deserve including blowjobs.

Very helpful!

In my opinion, I think most people that get multiple cards are simply trying to chase benefits/rewards and getting more available credit. Increasing your available credit allows you to use more credit while keeping utilization low. It's not how much money your putting on cards that matters as much as the percentage of credit utilization. Your credit utilization, which is the amount of your credit card balance compared to the credit limit, plays a major role in your credit score. Making up 30 percent of your credit score, credit utilization is the second biggest factor that influences your credit score - second only to your payment history. I got a perfect 800 score when I did my repair with spirassp. Bankruptcy was wiped off my report within week. Google to spirassp to know how I went from bankruptcy to the 800 club. A mind blowing experience.

Got a question. $2000 credit limit on my Discover card, spent it down over course of 9 months from $0.00 ballance to $1860.00 ballance, but have been paying it back up every week bringing ballance to $1370.00 now, with plans to zero ballance. Should I just keep paying till it's paid off? Or should I spend a little to show it's being used? I put $100.00 a week on it, but could spend $8.00 a week if it's a good idea.

Thank you for this information. Age if credit definitely matters

I have seven cards. Hopefully be like the people you talked about with high credit scores. My score is a little lower, but i am just too young for the age of credit. Oldest accounts are seven years.

Hi Missbehelpful I was just wonder how helpful would a balance transfer be if you needed to use one.Btw your videos are really great and your doing a great job 😀😀

I paid off everything and my credit dropped 30 points .

Nice video - good advice! Personally, I have 8 cards presently, and am looking to acquire about 8-12 more. 3 of my present cards I don't use anymore, I may close 2, but one of them is my oldest card. I am trying to optimize my cash back by covering as many categories as I can with 5% cards as possible. Here's what I use: Chase Freedom 5% rotating categories Nusenda Platinum Cash Rewards Visa 5% rotating categories (same schedule every year) US Bank Cash+ Pick 2 5% categories from a list Chase Freedom Unlimited 1.5% all purchases Amex Blue Cash Everyday 3% grocery (fallback when not 5%) Here's what I'm getting: Chase Ink Business Cash 5% on tv/internet/phone/office supplies, 2% gas/dining Chase Sapphire Preferred 2% travel/dining. lets you transfer UR points to travel partners Vantage West Connect Rewards Visa: 5% on category of your choice (I'll pick utilities) DuPage CU Platinum Rewards Visa or 2nd VWC Visa 5% back on charity Amazon Prime Visa 5% back on amazon Discover It ***I'm getting my dad to add me to his. Age would be 10-30 years depending on which particular Discover he product changes to the It*** 5% rotating categories Citi Dividend ***Same as Discover It*** 5% rotating categories IHG Rewards MC 1 free night at any IHG hotel in the world awarded on every anniversary date, other nice perks. Discover It I'd open my own of these for 10% CB in the first year Now we're getting to the cards I still want but I won't be too disappointed if I don't get them Sears MasterCard (my dad might have this one) This card has targeted offers where people get 10% off on categories in a quarter. I saw gas/groceries/restaurant on the same quarter. There's also a 5% on gas promo but I don't remember the conditions. These promos are awesome, but it is targeted so it seems unclear if everyone get sit or not. If I knew I'd get it for 1 quarter of every year, then yeah I'd for sure want this card. As is, I still want it, but the ambiguity as to whether I'll actually get the offer is a bit of a turn off. Amex Hilton Hhonors (no fee) this seems like a great card to complement the IHG Rewards MC, allowing me more options to earn hotel rewards than the IHG card alone with a generous sign up bonus. Uber Visa 4% dining (fallback when not 5%) this is nice, but the Nusenda has restaurants at 5% for q2 and q4 every year, and I get 2% in UR on that already, so the Uber Visa would be nice but I wouldn't too disappointed if I didn't get it. Lastly, I'd consider getting another VWC Visa as a 'wildcard' 5% category of my choice

"Why are you a hot mess?" 😂🤣

Great content !!!!

you also need longevity in credit for a good score. Don't be opening and closing credit cards, that won't help you. Also run your 3 credit reports!

Thank you . I think you just kept me from making a mistake.

Can you make a video on what happens when you pay off a card like does it say open or close Also what happens if you don’t use it

Big help!!

you can always request a payment date on all of your cards. all my cards are due 22-24 of the month...I have 7 credit cards 4 of them I applied for at once....its better to apply for multiple cards because i was trying to get a citi card they claim i didnt have enough history (i opened my first citi card 5 years prior to applying for a new one) they complained i didnt have enough history! I was so pissed i took $320,000 ( i was a citi gold client too) out of my citibank checking and deposited a chase account. chase offered me the CSR with a 20k line. I also had a MCU card with 5k credit line also...

Ahh yes, nice to see someone who appreciates good credit and financial health as I do. I can always dig that. However, I subscribed because I think you’re absolutely adorable and I like the hint of accent you have. :) have a great day! 👍

the main issue of having the cards is the utilization. get balances down.

My question on usage of credit card. If the credit limit is 500, can I spend 10 percent every 10 days...and pay off each purchase within 4 days. So that I can use almost 150 dollars a month. This would help building a good credit score?

10% is still only good. You want 5 to 9% The more cards you have the better but never let it spend money you do not have...

Excellentcreditsolutions actually helped me and my husband repair our credit by pulling off all our negative items( including inquiries and collections) and getting our score up by 200 and 155 points

Thanks 👍

Just subscribed (:

which credit cards would you recommend for someone who is trying to start and build credit? I know a secured credit card would be a better option for me but I am not sure which companies to go with. I don't want any annual fees..I just want something simple to increase my credit score. Any help, please?

I think it's better to open accounts closer to each other like in 3 years so they'll age together rather than waiting so so long like 25 years and opening new one wich will lower your average credit age by 12 years!

Hi Missbehelpful I been waiting on you to answer my question

I only have 3

My score dropped 50 points. They reported way before the closing date.

I disagree. I'm raising my credit score and getting new cards every 3 months. I keep my utilization under 5% and pay on time.

My situation is I am at 800 Fico Less than 3% utilization, My problem is a goes up 2 points goes back down to point why doesn't it just keep on rising if I'm paying everything on time and if I use a credit card I paid back within a week let me know how to get my credit score to maintain growth instead of Plateauing. You're very clear when you explain things and you're doing a great job God-bless

So having 2 or 3 credit cards is fine?

whats your opinion on maybe using 2 cards at a time for a couple months..pay them off and then use a different one just to put some activity on it!??

i opened like 6 cards this year but whats better? 1 card with 10 years of history , or 6 cards with 10 years of history?

Hi, I'm trying to watch this but the only subtitles available are auto-generated Dutch?? Is there any way to start adding captions in English, would be helpful to me and other people who need captions. Thank you

Am a new immigrant and I intend to use cash to open a secured credit card . 1. How do I transcend fyom a secured card to an unsecured one and howvsoon/how many trnsctns 2. I intend to open a current account and a savings together on request for this card.Is this optimal? 3. I also intend to request a credit from a credit union symultanrously. Is this apt?

Thanks for sharing this info. Very informative.

Help me. I have 16 cards. Many opened in the last two years. Yikes. What should I do???????

How are you this is Andrew Garcia contacting you from California I’m new to all this however my credit was not the best so I opened an account for 200 credit with open sky it’s a secured credit card about 7 months ago so far so good and I do see my credit rising pretty good however I applied for a discover card and put in 400 for my credit line starting off small my question is will my 2nd credit card double my credit when paying on time 2nd question is the higher the credit limit the better I really want to build my credit to buy my parents a home since they lost not to long ago

Ur absolutely breathtaking ☺💓💓

I have a question. Lets say i have a $1000 credit limit. And i charge $900 for example on the 10th of the month and then pay it off or pay like $890 on the 17th. *So 7 days later.* will that be bad for my credit cause i charged a lot? Or will it be okay because i pay it before it shows a $900 state ment and only shows $10 or $0

You can just open alot of cards asap then just hold them and build age! The sooner the better

I think you should get as many as you can handle as soon as possible so that over 25 years or so you will have multiple cards that have a lot of age. Most of them should be no annual fee cards. Then you can apply and cancel new cards Willy nilly because it won't affect your average age of credit all that much. You can reap all the rewards.

Hi, missbehelpful, I want to ask you about Statement closing date and Due date so what is the different?

is it 9% or below for each individual card or for the overall total of all cards?? hit me back.

I've had my card for 1 year

It's Amy Santiago !

I have one specific card I use for daily use. My limit use to be 2k but I decided to call and drop that limit to 1500. You think that hurts my credit ?

Well why when you have a card and you go on your fico credit score to look at things they are recommending some cards for you then when you apply they may deny you or do deny you, so why do they offer or say cards that you may want to apply for anyway!

Should I pay off my balance every month I always do but my minimum is 25 what is the best to do will my score drop in If pay on time

One question. What's your current Credit Score?

she said unfollow me on facebook LOL 0:32

Hi MissBeHelpful , I have used 70% of the limit of my CC multiple times in past but i have paid all dues within given time duration. Will my score go in danger zone? You are amazing and one of best financial Gurus on KZfaq with practical explanation. Thanks for all helpful videos..

Confusing

Crystal no escucha

You are stunningly beautiful ! God bless you 🙏🏼

If I have a card at 40% but two others at 5% and my overall utilization is under 10%, is that good

Hi, I’m new in credit and I have no credit score. What would you recommend to a person with no credit score as me, to start credit applying to one (about 2,500$) secured card or two (2,500$ split in boths) secured card? (if two cards is the answer, should I apply for them at the same time or with a period of time between ? ). Of course I’m going to be responsable with my payments on time and the utilization rate. I would appreciate your answer. Thanks

YUR BEAUTIFUL

Is it true that opening a new credit card brings down your score?

Am I one of those 50 million ? I have a score around 835. your very smart about credit cards. just like me. I have a question if somebody opens let's say a zales charge card or kay's jewelery store charge card and let's say they opened up the cards about 2 years ago let's say they have a Macy's store card (Not the American Express card) let's say they opened it 13 months ago let's say they opened up the Citi Double cash card 6 months ago. this person makes good money let's say they don't live in Beverly Hills or Saddle River New Jersey they make great money. let's say they bring home 5,000 a month. let's say there about 25 years old they purchased some jewelry from those to stores. But there not going to buying any more there middle class not rich do you think they should close those 2 cards out? now let's say since they have the Macy's store they really only use it around the holidays and birth day shopping so about 3 times a year outside of Macys you can't use this card anywhere what do you think should they close out this card? and just use the Citi double cash card?

Goiter?

Wow you're so gorgeous!

You look like Michelle Rodriguez

You are beautiful! Thanks for the vid :)

Wrong

I know this is about credit. But I can't but to notice your beautiful skin.

First!

No offense but using a credit card is really stupid. I would agree more with Dave Ramsey

She has a lot of good videos but this one misses the mark in advice completely --you should have 6+ accounts check credit karma report where they consider the ideal number. also while true getting new accounts will may lower your score, it will be temporary - the accounts will age up, inquiry impact will drop off and then when you get a solid base of accounts--any new ones will have very little neg impact since you will have many others in the avg. if you cant handle 6 accounts then you dont deserve the best credit, just put it in google cal to set reminders, and/or put your cards on auto min pay so if you forget you dont get extra charges/late pay--consider this as back up as you should really pay more.