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28 comments
I had a good credit score then I got a secured Amazon credit and my score went down 70 points
This advice sounds good but it's not for me if I only make 24,000 a year and not like the examples of 250,000 or 400,000 a year.
The biggest mistake I see people make is in not having credit cards at all. Some are Protestants who think that credit cards are immoral. These people are under the impression that they can do away with having a credit score if they pay for everything in cash. ..so stupid🙄
You're absolutely right sir, on everything you said….why spend money you don't need to.😉
Question, half way through a 6 year car loan, I pay 410.00 a month. Credit is 670. Should I refinance or just keep paying the current loan off?
Do you think being account holder on some card is good way for some to build credit?
What do you think building good credit over bad credit for instance , having collections then getting a car loan , and a basic credit card with a 400 limit?
If any one will like to comment please do , well all feed back.
When people get only airline cards and then stick with 1-2 cards
The video quality looks great 👍
Great Information
I closed several credit cards because I was afraid of having too many, but now I have high balances on a couple of them. How easy is it to reopen them?
Within Chase, I wait for the offers. In 6m they have doubled by CSP limit, made two positive credit remarks, and offered a Chase Freedom pre approval with a high limit. Be advised though, Chase pre-approval still gives a hard pull and dropped me 5 points on my third and final Chase card. I am getting a new mortgage in 6m (moving) and fear I have to tap the brakes due to average age of account, etc Now barely over 800.
I've been watching these videos and am going to put the wife in Amex and run two points pathways. If you've noticed, Sebby has mentioned this before. Points are flowing!
Question
Trying to get a mortgage is it a good idea to apply for 2 or 3 credit card and don’t use them. ? Thanks
My biggest mistake was not being aware of this "coupon cutting" approach to credit card use – chasing bonuses and freebies across a wide array of cards. We weren't even doing it well for the few cards we had.
Even if you're Jeff Bezos level with cash, you just save a lot more with credit and get more with credit cards. 2 Jeff Bezos' but one uses credit, the one who uses credit will always have more at the end of the day
One thing I see people doing is only keeping 1 or 2 cards. I’m not a fan of this because if something goes wrong with one of those accounts and it gets closed, you lose your credit history and ability o use that card. I think most people should have at least 5 cards.
Great! Great! Great info. Thank you
Why would anyone want to live in a terrible city like San Francisco.homeless everywhere high crime.
How much do you think a $0 collections balance effects credit?
Does the buy now pay later in easy installment trend impact your credit score? Especially for someone who don’t have enough credit history and if your existing credit card (say Apple Card) provide option to pay in east installment?
Hi Sebby, very informative content! We are in escrow and trying to maintain and boost our credit score. Out of curiosity, when's the best time to pay the "minimum payment or due date?" I've always paid mine at least 2 days before the due date. Is there a sweet spot on when to pay it each month? Thank you! I just subscribed from your channel:)
This should be taught in HS. In college i was bombarded with CC, which I knew nothing about. My parent didn't either. There's so much information out there and some are not good ones. Considering you all of a sudden become an adult after HS and everything is in you, then you should be taught this to prepare us.
ohhh
If you have credit cards maxed out try to get the balances under 90% first i did that and my score jumped from like 530 to 590.
Why did my score drop 26 points after o paid off my credit card to $0 and have not closed any account?
Very true
Cool