How to removed negative items from your credit report. What to do with your credit when you’ve just got your first credit card.
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Credit Card for Starters
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Credit Card Basics
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Credit Card Statement Closing Date vs. Due Date:
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Credit Card Balance Transfer Hack:
Credit Score Less Than 700
Maximize Credit Score while in College:
Build Credit Fast with a $500 Credit Limit:
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My Credit Score: 848, How to get it Part 1:
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My oldest accounts are student loans, the oldest being 7 years old. I just opened a secured credit card 10 months ago. I just graduated and will start paying my loans. Will consolidating them terminate their credit history? And if I don’t consolidate, how can I pay them off without closing the accounts. Should I bring my oldest account down to a minimum balance and pay it indefinitely?
There's actually over 44 credit reporting agencies. Only the top three are widely used.
Thanks for the advice
Very Good ***
Out of those 3 what do you use to check your credit score?
Bro, it is Voila, not Wala. 😛
I want to thank you for the time you put into your videos. They are incredibly insightful and motivating. Please keep up all of the good work, as I'm certain a ton of people benefit from them.
can u review stash it.
My credit card was increased from 300 to 3300 a couple months ago I always spend only 300 dollars at the most and always pay before the due date. My credit score jumped to about 688 from 612. I haven't noticed any increase since then and am wondering what I need to do to push it over 700+.
What does your name mean?
TL;DR: No credit or bad credit folks should look into Secured Credit Cards.
One of your questions was to how to build credit quickly and I have just recently learned about options for this that most people with good credit scores never learn of.
Secured Credit Cards!!!! For example Visa Open Sky is a Secured Credit Card that doesn't need a bank account or a credit check/ cosigner. Its generally advised for use by immigrants and credit repair customers to build credit. Basically you give the bank collateral and they give you a credit card for that amount.
Example: I pay Visa 300USD and I get a Visa Open Sky Credit card with a limit of 300USD!
The greatest thing about using Secure Credit Cards to build credit quickly, specifically payment history, is that these cards report to the three credit bureaus monthly! (Do double check on this for specific card offers. ) Some cards turn to unsecured after a period of time and offer other benefits.
To the video maker: I read in the comments you have a video on Secured Credit Cards but there wasn't a mention in the video here or in the video's notes. Maybe put a link in there? -_^
What if I have an ITIN, how can I get my report? Thanks
Im confused. You said that your credit utilization ratio should be as low as possible, but that if you spend $452 out of a $500 credit limit and still pay it off on time, they might offer to bump up your credit limit. Would doing this lower/slow down building credit? Also I went to a bank and applied for my first credit card so i could start building credit. I applied for the card, and long story short, it turns out I already have a credit score of 700 bc my mom got me a credit card for gas and has been paying it off but i never realized it. Since it was a card for people with no credit, it offers no benefits. Is it going to drop my credit if I apply for a better card, and by about how much.
I'm at 692 with transunion, 685 with equifax and 671 with Experian. How can I get them in 700+ faster?
I agree with the use more, pay it off method to increase your credit limit. I used to constantly pay off my card in the middle of the billing cycle so I can get more available credit, but because of that they gave me an increase every quarter. Now I'm content and pay it off at the end of the month like normal people.
After rebuilding my credit and hitting the 650+ mark, I seem to hover around there a lot. I have addressed all of my delinquent accounts and removed most of the bad marks by disputing them on my report. Will it take time and patience to hit the 700 mark? I was able to go from 520 to 650 in a year and a half pretty effortlessly once I learned to control my finances.
+BeatTheBush
Thanks for your videos…..everything you talked about works well for me and my score is currently at 733 just aiming at the region of 800's
How often can I ask my lender to increase the credit limit on my credit card, and will my credit score go down if I ask
will my credit card score get hit for canceling a debit card too
Hey, beatthebush! Great video, thanks for putting it up. I went to the AnnualCreditReport.com to find my credit score, and I decided to just start with Experian. However, it only showed me my credit report, and wouldn't showed me my score unless I subscribed to a service where I payed $20 a month to view my credit score. What's going on here? Do you have any suggestions for getting an actual score? Thanks!
Hello beatthebush ! Awesome video but I had a question , I have a collection in my credit report & I have talked to the collection agency for "pay for removal" . They're not willing to do it for me , they keep saying they can't & I don't want it to be on my report for 7 years either . What would you do in my situation ? 🙂 thank you
Hello. I always pay off my full balance each month. But I'd like to start getting the balance down to 0 just before the credit card reports to the bureaus. It turns out my chase auto pay always goes through a few days before the due date which they said is also the reporting date.
I would like to make sure I'm paying it off at a correct "in advance " date so that when the report goes to bureaus, it's as little debt as possible.
They said two of my cards have a cycle period on the 8th but my auto pay goes through on the 5th. I'm sure the cc companies must report what the ballance was right before the payment goes through on the 5th.
Should I leave the auto pay date as is on the 5th. Or should I manually pay it off like the week before the nornal auto pay date?
Kevin
I just got that same Discover it card with $500 limit. If I pay the balance on something right when I go home after the purchase, once everything is done pending, can I buy more on the card or do I have to wait until next month to buy more on the card?
@ TheBeatTheBush,
I used to have excellent credit but I am currently cleaning up my credit from a few bad decisions in the past. I didn't dispute* anything as I knew it was my debt. I did however ask all creditors if they would all take settlements. They all did! My credit was already bad so the settlements actually raised my scores. Typically they hurt you when your score is higher. I had about $5,300 in debt and settled all for $2,088. My scores rose over 100 points just from the settlements. These included collections as well.
Also, I needed something from a store and it was guaranteed financing. They also report every month. Its a lease to buy program so Its reported as an installment. Im paying 3x what my item is worth and I accepted that as a testament to poor decision making in the past. Its like taking your lumps. I can pay off this installment at anytime. So the question is, should i pay this installment off now or pay it over 12 months. Its $1049 dollars. Its the only debt I have on my credit. My credit card has a zero balance. Im just not sure because if I pay it off, They'll close the account as paid in full. This will lower my debt, but also lower my score.
*Also keep in mind I didnt dispute with the credit agencies hoping the debt would be removed. This is what repair agencies do and its a scam. I simply asked the creditors to take less and I promptly paid.
Thanks.
Voila Thank you for the information. Great job
I currently have a 733 Fico score with 4 hard inquires that I acquired in January 2014. Understanding that it takes approximately 2 years for hard inquires to be removed off my credit, I wanted to apply for another card to boost my score long term and possibly get a higher credit limit to maintain credit utilization ratio. Would it be smart of me to do so knowing that I'll be applying from mortgage in October of 2016?
I like your videos man!, especially the finance ones, I have poor credit and I'm really trying to follow your advice on how to improve your credit, I currently have a 501 credit score, yikes!, please ask T-Rex if there's anything I can do to boost my credit score up ok??, HEEHEE!, I'm actually an arctophile, (a teddy bear collector) and when I saw T. rex, I smiled. =), thanks man!, keep up the good work! =)
I tried to subscribe to your channel like you said at 6:53 but I couldn't find anything up there :'( lol
In general what is your apr on your cards? I have two at 19.9% and one at 17.49. I read one of your comments that said 15% is enough to get trapped in a never ending mountain of debt, so what is a reasonable apr to you, even though I know you said you don't carry balances?
Great example at the end of the video! I am currently trying to build credit from scratch and I want to use my credit card in a smart way and not go in over my head. I actually had a high credit limit once I got approved which is great. Thanks for the video. Very informative!!
So sounds to me like you have a business. Can u make a video explaining the loopholes of tax write offs. I'm hoping you would know a buy about this since you seem intelligent with finance and saving money.