How Much Should You Spend With Your Secured Credit Card?
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- čas přidán 20. 09. 2021
- How Much Should You Spend With Your Secured Credit Card? There's a lot of information going around about things concerning secured credit cards. Whether it's utilization, credit limit, or which secured card to apply for, the advice can be overwhelming at times. Whether the advice is right or wrong, you have to find what works best for your credit report. Every credit report is different, and advice can be subjective. So how much should you spend with your secured credit card?
#Securedcreditcard #Discoversecuredcard #Securedcard #Wateryoursoil
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Be sure to check out my website on how to improve your credit score: www.wateryoursoil.com/courses
I also have a book to help you improve your Credit Score:
www.mastercreditbook.com/
I have binged watched your videos and have had success with your advice and I thank you.
I appreciate that. Thanks for tuning in
Thanks for the advice I'm just starting out so finding suggestions like this is much needed! Keep it up brother be safe
I appreciate that. Good luck on your journey. Thanks for watching.
Perfect breakdown, thanks for the advice 🙏🏾💯
Thanks for watching, JT.
Mannnnnn, you are exactly the channel I need right now.
I appreciate that. Thanks for watching.
Thank you for this knowledge I truly understand it now
Thanks for watching.
Thx for this bro. Good video.
Appreciate that. Thanks for watching.
Thanks bro this video really help
I appreciate. Thanks for watching.
thank yu bro this really helped
I appreciate it. Thanks for watching.
Thank you so so much really appreciate you
Thanks for watching, Cookie.
This may be year old but help me alot.
Thank you
Thanks for watching, Juanita.
quick question man, for a $200 credit line for credit utilization spending does it have to be exactly $20? Or is a bit over okay? For example $21 or $22
Thanks for watching. Your utilization is all up to you. See what amount works better for your credit score. Check your score monthly to see which utilization gets the best results.
@@WaterYourSoil hm alright , have a good one man keep doing what you’re doing!
No bro it doesn’t matter if u go over a couple bucks just pay in full
How is 25% (around $50) on a $200 limit? It will be paid off responsibly.
I did a updated video to answer this question. Watch this czcams.com/video/Nqef6v7V_Is/video.html
I have a secured credit card by capital one. I have a 200 limit i spent 49.14 of the 200 my current balance is 11.11 but i still have two pending one for 24.51 and another for 13.52. So i should pay the whole 49.14 by my due date? My due date is 3-21-22 statement date is 3-27-22. This would be my first due date
Pay off your full balance before your due date. I have a full section of videos on my channel for beginners. This video will tell you what to do with your Secured card from here out: czcams.com/video/Nqef6v7V_Is/video.html
@@WaterYourSoil thank you brother
@@WaterYourSoil just a question so I would know for sure what if I make the payment on my due date on the day of the 21st would that matter just curious
Do you pay the bill on the due date are before the actual date.
Thanks for watching. This video might help: czcams.com/video/-TAyhRiyMjk/video.html
What if you keep 235$ and spend 20$ or 10$ so utilizing is low does it work ?
Thanks for watching. Here's a video explaining utilization: czcams.com/video/9bJPrj0Pn0w/video.html
Does the year start when you activate the card or the date the approve you ?
Normally it's the date they assign once you're approved. For me, it started before I got my card.
@@WaterYourSoil Thanks 4 unswering so quickly
Do the same rules apply with a unsecured card
It's all subjective, but personally I used the same rules for my secured cards. Thanks for watching.
This is my first credit card how much should I use for a 375.00 credit limit 😢
Thanks for watching, Tamika. This video should help: czcams.com/video/9bJPrj0Pn0w/video.htmlsi=CzmzpqfV6iH_PpV3
Tryna run up my credit this will be my first credit card question does it matter if i have 1000 dollar credit limit or 200 does the amount matter on building credit ?
Thanks for watching, Jay. This video should help answer your question:
czcams.com/video/8oK-CCeloaU/video.htmlsi=9x8Mx1bSaZP-pY5G
Hey man when u say spend around 10% is that for the whole month?
@@fragfire123 The 10% is in reference to credit card utilization. I break it down in this video: czcams.com/video/9bJPrj0Pn0w/video.htmlsi=rrGhgmekOVCZTJjG
hey I have a 300 dollar limit so how much should I spend each month?
I give you a clue in this video.
@@WaterYourSoil why you do this to me iron man
If you wanna stay under 30% utilization don’t go over $90
💯💯💯
Thanks for watching.
Thanks i herd 20 percent for the 1st 3 months...Then after 3 months use 50 percent. But What Your saying is the easiest way and Smartest way
Thanks for watching.
How long until it graduates
It varies. I've had some people graduate in 8 months, some a year, and some longer than a year. Mine was around the 11 month mark, but that was years ago.
💯💯🔥🔥👍
Appreciate it. Thanks for watching.
Is there a difference in spending the whole 10% in one purchase rather than making smaller ones that add up to 10%? Which is the better strategy for the credit score? Thank you!
No. Your utilization is the percentage of your credit limit that you spend. Whether it's one big purchase or multiple small ones, it adds towards utilization.
The better strategy is subjective. It's all up to you as long as you keep your utilization low. Choose the way that's best for you to maintain and manage.
Very helpful thanks!
@@WaterYourSoil so if i have a $200 limit, and i should only spend 10% which is $20?
@@5ive295 That's if you want your utilization at 10%. It's your choice. Just know, a lower (between 1%-10%) utilization often gets best results.
Not 500 not 600 not 700 not 15 million.
Thanks for watching.