fr, definitely enjoy informative videos more than anti-poor ones

@@chashubokchoy8999 mhm 😩😫

@@chashubokchoy8999 you're poor!? just have money! it's that easy!

@@FaterialL imagine being poor smh I just made my company from dads money can’t u do that

What do you mean, so many of the latest ones I've come across have been either dumb or plain ads

Not really they make a lot from transaction fees on the merchants.

@@JohnDoe-wl4tq good point

@@JohnDoe-wl4tqthose companies then turnaround and charge you a 4% charge to your bill for paying with a credit card. I’ve had restaurants do this to me. If your being charged more for paying with a credit card, doesn’t that cancel out the rewards you get?

Dont buy crypto ever

@@psd28 Except for Monero. As a liberatarian, you should have known it.

@@psd28 sorry you have a "don't thread on me" profile picture and you're telling someone NOT to buy crypto?

@@renatosardinhalopes6073 you’re making no sense this flag has nothing to do with crypto

I did it before and i had to pay the fee. So many people dont know this

I’ve heard 9-30 is the best

Over 30%

@@littlemacisunderrated412 0% is best… 10%-30% will do less for your score than 0%. Just pay the thing off before due date. I cycle a bunch of monthly bills through mine so the CC company is happy. But then $0 balance on due date.

@@kw2519 no even if you use say 50 and pay it off that still hurts your score. Even if you pay it off in full.

@@littlemacisunderrated412 How what if i maxed my credit card and paid it back in the same month so would i get another money ?

Also there are “balance transfer” credit cards that can offer a set period of time where interest isn’t added on to the amount you owe.

Da F

You’d be surprised how many people don’t know about this

Common sense ain’t that common

Ah yes, common sense is knowing that maxing out a card will drop your credit score. Makes sense

I follow josh otsusanya (deep laugh)

@@Sigmamedia2456 goat

Half of that is wrong.

Example: he said don't use s credit card to pay off a credit card. This is wrong in 2 ways. You can split the balance to achieve the 30% utilization which can boost your credit score. The most important reason to do it is to take advantage of the 0% interest rate promo. That's assuming your intention is to pay the debt before the promo expires and you have the means to do so.

If you're amateur or not sure then yes follow it. Better safe than sorry.

Wouldn't you still pay the interest from the first card in the other credit cards bill?

Look for a no fee card with a free balance transfer fee and a 0% intro apr so you can carry the balance without incurring more interest. But your score will likely suffer from simply carrying a balance.

Just don’t do it

Do you pay the full balance off each month so your utilization is under 10%? Preferably 0%?

Yeah just own the card and dont use more than 10% of the limit between payments the balance when they check at the end of the month is all that matters (you can make as many payments as u want each month so really u can spend as much as u can afford)

40% interest per annum i see 💀

Why? It’s credit. You want credit. It can raise your score if it’s low. Plus you can get all kinds of rewards through various companies. The trick is to use the card a lot but never carry a balance so you avoid paying interest or carrying a high utilization. Using the card makes the CC company happy since they get paid on transactions via the retailer. They’ll eventually up your limits which increases your credit score again.

Ikr

Idk about the US but where I live I cannot use a "card" to pay off a card.

@@Maneesh1301 add credit card to your PayPal wallet and then send funds to your wife's PayPal and then have her send the funds back to your PayPal....then transfer funds to your bank. Lastly; use your debit card to make a payment or pay off said credit card ...wala. Your welcome. :)

I probably misinterpreted what he was saying though.

@@poptartparty69 you did. He said don't use it if you CANT pay in cash. So only spend money on a card you COULD have chosen cash for or you'll have a higher balance than you do money and you'll pay interest. Basically only spend 20 on the card if you have 20 cash and put it aside to pay back

I had no balance and had a 780-800 credit score at 20. There are more factors, but leaving a balance on a credit card is a loosing game in my opinion

It depends but the advice is kinda wrong

@@rabidspiders01 But if you have 4 credit cards that give you 2% cash back on all your purchases that would be 8% cash back or living life without sales tax.

@@Malficion well before you decide that consider the interest rate first. Anyhows a rose by any other name is still a rose. The interest rate is just a tax the credit card company has for allowing you to use their money.

Don't get me wrong cash back does help. But some of the advice is wrong, like "don't use credit card to pay off credit card" 1. You can transfer debt between cards to lower each cards utilization percentage which could raise your credit score because of the 30% rule. 2. You can take advantage of a 0% interest promo to bypass the interest altogether. That's providing that you have the intention of paying off the debt quickly and you have the means to do so. Ultimately what that means is you'll have zero interest while you're knocking that sucker out... saving yourself money.

Nope ur good as long as the balance doesnt report.

Do you genuinely think the multi hundred billion dollar credit card companies didnt think of this before you and stop it?

If you can explain how they attempt to stop it, then in all likelihood someone can come up with a loophole because no system is perfect, as long as it's made by humans, or even machines that follow human made logic to the extreme. And money doesn't automatically mean your idiot proof, you might have more resources but how those resources are used is determined by flawed humans.

This is a whole new level of screwing yourself over

@@vitsadelhole how? You’re moving the debt from a high interest account on to a time sensitive zero interest account, all you need to do is keep on top of that time period.

@@MrLukejstephens your absolutely decimating your credit score in the process paying massive fees and in the end you end up paying a higher interest rate 100% of the time, you shouldn’t even have credit card debt in the first place and the odds of you suddenly becoming financially responsible in that grace period are near 0 and the credit card companies know statistically speaking your likely to just increase your balance during that time so now you have a higher apr more debt and a lower credit score

If you pay your card off before or when the bill is due there is no interest charged. Plus with my cash back card I get 2% back on all my purchases, which is literally everything I buy, so I essentially pay 2% less for everything than you do. And yes you should always save up, never use a credit card unless you have the cash to pay for it in your account.

@@JohnDoe-wl4tq so basically, get a credit card and buy stuff you can afford, pay it off in time and save 2%, surely there is downsides?

@@CyberPunkSimms only downside I guess is being diligent with your money and to make sure you don’t overspend, but that is just common sense. If you can handle a debit card without it letting you know your out of money by declining the purchase. There is no reason you can’t handle a credit card. Just can’t fall for the I’ll pay it next week or next month trap that people fall into, that’s why it’s easier to only use it if you have the cash on hand to pay it off. Plus with a credit card you build credit each month by paying your balance off. What I do is pay the card off every week, one to keep the balance down so I don’t go over 10% usage and two to make the bill at the end of each month 0. For me it’s a no brainer to save 2% off of everything I buy because I know I wont ever have a balance. I am not saying it’s for everyone but if used correctly it’s a tool.