How did u manage to pay that

@@kimberleypuddicombe6168 i sold some shares got the money and paid it off

@@kimberleypuddicombe6168 probably a ton of hard work, smart moves and sacrifices in budget , entertainment, n expenses

If you feel it isnt for you then leave it till you feel mature to have one honestly.. just becuase you have 4k in credit does not mean you freely are able to spend 4k.. IF YOU FINANCIALLY CANT PAY IT OFF IN REALITY and more then anything "WITHIN A MONTH spand. Due date like she explained all transactions should be payed off to be save at least 3-4 days before that due date.. and next closing date is days between your due date and closing date that the bank sees your transactions amd if everything is all payed off "on time" or you wekl be back with negative numbers and month by month interest. Does not matter if its 50 150 200 dollors oay it off that same day as possible or when your able to pay it off that same week.. started off qith 150 bucks to use now 4k within a yr and a few things i have on my own car which well bring me more credit to my name no miss payments ever.

Congratulations 🎉

I don’t think they heard you sis 💯

I was told to pay it down to a small amount about 10 or 30 dollars at the statement date and then pay the remaining Balance at the due date and it will boost your credit fast.

@@E3litecompanyyes, that way you keep a utilization rate of less than 30% 👊🏽

No, you pay in full by the due date to avoid interest charges. That’s why it’s called a grace period. Paying it down by the close date is a good idea though because it reduces your utilization and boosts your score. Doesn’t save you anything in interest though

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Pay off consumer debt, then save money in an individual investment account or Roth IRA, and with your savings, have it auto buy shares of VOO and/or VTI… and continue to do so from age 20 to age 40, and Bob’s your uncle.

Yes. But that could also do some harm. Lenders usually want to see some utilization being used on a credit card so that they know you can properly manage and pay a credit card on time. If you have a zero utilization rate then they’re not really seeing much, which is why a lot of people usually have a utilization rate of less than 30% on their card ;)

It’s better to pay off on the due date before the closing statement. It helps your credit score up.

@@Ziixtythis make no sense. Lenders will see that it is being used by the transactions not the balance. Are you referring to other lenders on the credit report? Actually, they don’t care if balance is left. They care more about it being paid off fully and the utilization rate being 0%.

What difference does this make? You’re not paying interests either way but you’ll end paying 3 weeks+ early.

This

Yes, you won’t accumulate any interest this way. Some banks make it easy to see where you’re at with this like Chase. Others make it more difficult, you have to figure it out yourself; US Bank, Capital One

Paid off by the end of the monthly cycle, which is before the due date anyway. Chase charges you interest if you have a balance as of the end of the monthly cycle, which is usually like two weeks before the due date.

If you can, also pay to keep the balance as low as possible even before you pay it in full for the due date. The percent of your credit limit that you’re using when they report to credit bureaus is a major factor in your credit score. So, for example, if you’ve got a $1000 credit limit, they’ll bump up your credit score if, at the time they report to the bureaus, you only have a balance of $10. Whereas if you have a balance of $700 that’ll drop your score, even if you pay in full by the due date every month. If you spend $700 you want to pay off most of that before they report to get a better credit score, even if it’s not the payment due date yet. If you pay each time you spend, to keep your balance as low as possible all the time, not only will it make it harder to use credit for things you can’t afford and get into major debt, but it’ll also help raise your credit score if they see you appear to be using very little of your credit.

⁠@@scottb_02you wouldn’t pay any interest either way. You should pay off 95% of your current balance on the statement close date, then 100% of the statement balance that remains after that the following day.

I totally feel this! I have $1000 of payments each month between debts😅 we got this though!! I do stuff on the side of my full time job so I can send lump sums

Why not consolidate the debt with a loan? Credit score will dip slightly for the loan inquiry but will jump the next month because your credit utilization will be between 0-10% also it'll make your interest lower

Hope you are enjoying the stuff you bought

Thank you for the advice! I called and asked, they couldn’t. But at least I called

Best of luck friend!!

Thank you!

Nooo its super easy if you are conscious about money in general, I NEVER EVER go more than 30% of use on my cards but lets be honest I use not even 5% bcz I became frugal and minimalist lately and have 2 cards. There is limits to what u can pay with credit cards so I don't see how people need 15k worth of credit limit unless its a renovating a house situation😂 just trust urself its not that hard

Cars aren't cheap. My car was hit by someone and ended it being totaled. Inhadntonget a new car and let me tell you. My heart hurts for my monthly payment

​@@AA-dq5vh Your insurance didn't provide you with the funds to get a replacement vehicle?

​@@jordyt1109👀

Think it’s 30%, but regardless, if you’re balance is 10k, then you have 3k you can spend each month, but you still want to pay it off beforehand come next term cycle to avoid interest. It’s not saying you need to keep a 30% balance 24/7, you just don’t want to spend more than 30% of said available balance, I suppose it’s you can pay it off before the next term to avoid fee

Pay it off on or before the due date *

@@scottb_02 statement date and due date are two different things. If you don’t have the money for to pay it off by the due date, you can pay it off before the statement day (about a week later) and it’s the same exact thing.

And pay most of it off before the close date to reduce utilization

tf? Your bank.. you use your bank to pay off your cc’s. Ya know the one where your paychecks gets deposited.. link it to the cc company (s) my U.S. Bank checking account is linked to Chase, Citi & Capitol One

Conquer up to 20k credi card debt kzfaq.info/get/bejne/jMqmd89ov7_Xn2Q.html

I heard you should pay off only about 70% and then pay the rest later.. is that good also or should you stick to 90/95%

@@Ygtrecey I'm no financial expert, but I try to pay off 90%-95% because then it leaves only 5%-10% of the credit that's reported and lower is generally better. The 70/30 rule is kinda the standard though to my understanding so try both and see how it affects your credit. Most videos and sites I've seen say you should just try to stay below 30% credit utilization that is reported so as long as you pay at least 70% and then the remaining balance afterwards when it's due, you should be good.

​@@ImKeeday😊

@@Ygtrecey70% is for the 30% utilization…that’s the standard… but if u really wanna see a jump of your credit score, you’ll keep the utilization under 10%…

I don’t get but I plan to do an entire month dedicated to credit cards

That person was referring to the statement closing date the statement closing date is different than the due date as the statement closing date is when the credit card company will send the information of your balances for that month to the credit bureau so if you pay your full balance before that date, it will show a zero balance on your credit report but if you pay only a little bit, it’ll show a lower amount on your report.

You pay the statement balance in full, not the current balance. If say your statement balance is $1000, but when you go to pay you see your current balance is $1300, you still only have to pay $1000. The other $300 plus any other charges you put on it before the next statement closes will be due on the next months statement. If you regularly use a card, you will never see it at zero, but as long as you pay the statement balance in full, you will never a cure any interest.

Keep it. It takes typically 2-3 days for payments to clear you want to make payments a few days before the statement closes. I learned the hard way by paying the day before my statement ended😭

@@safiyasellshomesSound advice

Don’t worry about due date, leave 3% balance 2 days before statement closing date. Then pay remainder 3% 2 days after statement closing date to boost credit. Paying 2 days after closing date will cover the payment fr next due date. Then keep repeating

Conquer up to 20k credit card debt kzfaq.info/get/bejne/jMqmd89ov7_Xn2Q.html

@@stoneyjosephine okay thanks so much. this is my first ever credit card and english not being my first language so everything is kinda confusing haha.thank you!!

If you regularly use a card, it will never be at zero. As long as you keep the statement amount paid off by the statement due date, you will never a cure interest

If u don’t already u should work on having a good amount in a savings account. Stuff happens in life and u might find yourself with an unexpected expense where u can’t pay your card off in full. Much better to borrow from yourself than to carry over balances with a 23% APR!

Uhh savings acct (often referred to emergency fund) helps with this...

I also never have interest in them

Do I do transfer or pay 😊

​@@weebly_how do u know when the balance is going down

So let's just say u got 27000 credit limit and u owe 14000 what happens once u pay off the balance

At a minimum balance

Not necessary, but to each their own.

You should pay it in full by the end of the month if you pay it individual payments you’ll hit fee

@@G20T I never get any fees

@@G20Tthis isn’t true, u don’t get a fee by making weekly payments. As long as u pay off ur balance. This is better to check ur bank frequently and not miss a payment and utilization rate appears lower on credit report

You need to keep the credit cards. Don't cancel them they will make your credit drop bcz it will look like u don't know what you are doing, you need to use them all a bit, don't let them unused. You need to be careful with inquiries, never miss payments and spend more on debit you are bad with credit.

If you're using over 30% of your limit, then yes.

No, first, you need to use less than 30% of ur limit, but I suggest even less. Second, have a higher limit if u can and ur close to the 30%, thirdly, you also need to keep the money a few days in the card to show that you use it because it takes around 3 days for the system to process ur payments then pay it all 100% of what u spent until the other purchases are posted. Don't let debt rot.

Incorrect. Pay in full by the due date and you will pay no interest.

Yes and no. If you've made a large purchase, you will want to pay it down to a low credit utilization rate before the statement closing date. If you have a high utilization, your credit will go down. But you want a little balance in the card and pay it off when your statement comes out because the credit bureau will record that you actually borrowed and paid it back on time.

@@libertarian4323 Not incorrect. You don’t pay interest but your credit score is always going down because you credit utilization is really high. Paying 90% of your balance by the statement closing date avoids interest, fees, and high credit utilization. Your credit score won’t go down

@@gojojuice any purchase at anytime, you should pay 90% of your balance on the statement closing date. But yes, I should’ve said most

People who don't have financial literacy benefit greatly from basic information like this! If you are raised in a family where credit cards are not used or have been misused, it's understandable to not know this. Nobody starts out knowing this from birth. We all have to learn at some point

@@twatburger9000 Right! I'm just getting into the whole credit card thing, so basic stuff like this is really helpful

Common sense isn’t common place. Most people are idiots w/cc’s and need to follow Dave Ramsey‘s approach. For the rest of us free travel and cashback baby!

That’s great! You have it on auto-pay?

@@AjaDang no, I sit down and go thru our bills every Friday and pay our CC off, we pay for everything but our mortgage on our card. When we became debt free, we were almost fanatical about our money. We are very careful now.

Same! And if needed I just dividing by how many pay periods I have before the due date. It’s a little annoying to keep up with but worth the 2-5% off everything. My mortgage company lets me pay with a card, they charge me $12 but with a 2%card it’s a gain! I then use that accumulated savings/points for free travel! The cc points game is a hobby for me, I have 6 cards that I use and keep paid off. Cash+ for 5% off internet & Utilities, CSP for dining & travel(3%), CFF for 5% category spend right now gas, CCC for groceries 5%, Venture X for non category spend 2% (and travel perks) and last Amazon Prime 5%. Cheers

​@@Moonblossom62Hi! Question: I'm seeing comments saying to pay off 90-95% and then leave 5-10% for "reporting purposes" to build credit. Does it work this way? Or, should I pay off in full every week/month before the cycle closes?

Yes. Paying a statement balance means you don't pay interest. Paying a minimum balance means that you are paying interest on the difference between the statement balance and the minimum balance. For example: Statement balance: $400 Minimum payment: $30 If you pay the minimum balance of $30, you are paying interest on the remaining $370. If you end up using your credit card for an emergency, and are unable to pay the statement balance on time, pay as much as you are able as quickly as possible to avoid continuing to accrue debt in the long term. Making multiple smaller payments throughout the month has helped me before when I've had a similar situation.

Yes…yes and yes. Minimum balance is bogus y’all. I pay the total due of the previous statement period, the day after closing date.

Yes! If you’re only paying the minimum your financial hardships won’t be going anywhere.. most people aren’t credit card people, probably need to cut it up..

I rather just pay it off in full the moment the statement posted. Rather do it early than to forget it. Tho auto pay does help you if you do forget. Either way just make sure to pay it off in full before the due date passes.

@@Esperinforce cool, thanks for the advice and the vids !!! I'm really trying to build my credit score up and videos like yours are really helping!!

Either way, as long as u have autopay on to pay your statement balance you won’t incur interest. Paying a couple of times a month is a good way for some people to keep things in check by not letting their balance get too high. It’s also a good way to keep your utilization low which helps with your credit score. This is advice I hear all the time but the reality is it’s just more work. Your credit score really in,y matters when you’re looking to get a loan or another CC which for me isn’t very often, but when I do I just pay all my cards to zero for a couple of months or at least keep my Utilization

Paying before the due dates means you avoid interest

Whats the point of a credit card if your paying it weekly? Thats actually stupid asf and thats coming from a person who was young and did the exact same thing. Learn to budget and pay half 15 days before the due date and 3 days b4 pay it off.

@@liltruck2021 you still get rewards and cash back and maintain low credit utilization - so there are benefits to having a card even if it’s paid weekly

You don’t need to pay a card off weekly to avoid interest…..it’s a lot of extra work, especially if u have multiple cards. U just need to do what the video says and turn on autopay. To pay the statement balance. The only time I might pay weekly is if I’m going to be applying for a loan, to lower my utilization which helps your credit score.

Have a decent income and pay your bills on time.

Every year request a credit limit increase.

Most people do, because most people aren’t credit card people! They can’t maintain an emergency fund and keep their cards paid off!

If you can be responsible, some credit cards have great cash back and travel rewards! Those are negated if you're charged interest though. Not everyone can use credit cards to their benefit.

How u get ya house and cars?

@@Mr.Milk_Chocolate save money