The Correct UTILIZATION For SECURED CREDIT CARDS
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- čas přidán 7. 01. 2022
- This video is about the correct utilization for secured credit cards. There have been debates about which utilization percentage will get you the most effective results with a secured credit card. Is it 30%, 20%, or 10%? I address concerns regarding utilization for secured credit cards in this video.
#securedcreditcard #discoversecuredcard #utilization #securedcard #wateryoursoil
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I made it to this video ! Thank you so much for going the extra mile to help people who don’t know about utilization.
Thanks for watching.
🔥🔥🔥 thanks for making the video as promised.
No doubt. Thanks for watching.
As always really helpful, clear information! Thanks!!
I appreciate it. Thanks
Thanks for your help and please keep doing what you are doing it's helping
I appreciate it, Raymond. Thanks for watching.
I’m glad I have found you lol. Watching your videos are helping me to start rebuilding my credit. But was curious any chance you can like shows us more like in a diagram/paper plz. I do better seeing it how it works. I can very slow sometimes lol
Thanks for watching. I break it down in more simple form in this video: czcams.com/video/9bJPrj0Pn0w/video.html
Thanks Brother
Thanks for watching.
I started fixing my credit in 2021, went from a 562 to a 747. I got a secured card from cap1 in April 2021. They still haven't graduated it.... It really pisses me off lol. It's only a $200 limit and I have new cards with higher limits and rewards now (from Chase and WF) But I'd really like it to graduate just so I can get that deposit back. I refuse to spend a dime on my two cap1 cards now because of that. I'd close it but it's my longest card now. Feel like they're holding me and my deposit hostage...
It hasn't been a full year yet, so it might be around the corner. Make sure you're doing the right things to graduate it. Check out this video. czcams.com/video/9mV58wUFVCM/video.html
Hello! I am a student who’s looking into gaining more information on how to responsibly use a secured credit card. If you were in a situation to spend more than $20 with a $200 limit, what should you do? For instance, buying something worth $40?
There are multiple options. Check out my credit card for beginners section for extra help: czcams.com/play/PLmohWqrgYKkkC2IvVDOmx8VLJ-Vs4HU8U.html
First time here. Everyone hit the like button
Appreciate it. Thanks for watching.
Quick question should I report something on my credit card for my statement and then pay the rest off or should I pay the whole balance off before the statement date ?
It's important to have some balance reported. I always tell people to pay off their statement balance after they receive their bill, not before.
Can you explain the difference between the current balance, the balance available and the credit line
I'll do a video on it. Thanks for watching.
I have 1 question from this. Can I have 0% utilization at the end of the month? Or should I pay off $19.00 of $20.00 to have a low % utilization? I’d prefer to pay off as soon as it hits my account
It's a secured Credit card so remember you're basically auditioning to have your card become unsecured. I tell my subscribers to keep it simple Keep your utilization low (under 10%) and pay your bill on time.
Thanks sir💪🏽😎
Thanks for watching.
Quick question so I started with a zero credit score and I got added as a authorized user and it jumped my score to 750 can I now get approved for credit cards and loans?
Do the pre-approval before you apply for a credit card and see if you're qualified. I can't answer your question because it all depends on the lenders. A 750 is a great score to have.
If i have a secured card at 200 dollars, if i use say 150 of it and pay that off immediately several times a month, is that still going to look okay to the lender? So basically just use it to pay several bills a month
What is your reasoning for having the secured card? Is it to build your credit or just have a credit card?
@@WaterYourSoil me and my wife are trying to get our credit back up from the low 500s, desperately need to have a solid place to live and no place will even look at you if your credit sucks, so this is to help get us in the right direction.
@@HazardWolfCorp Outside of the things I mentioned in this video, you kind of have to self analyze with credit scores.
Credit scores are all case by case, so use your own discretion and pay close attention to your score on a month to month basis. Your score will be your biggest indicator on if what you're doing is helpful.
According to equafax Canada if your utilization any day of the month goes above 50 % your credit score will be effected no matter if you pay it back 1 hour later and doesn't matter what day of the month it is your score will go down. Aparently this info I mentioned is on there website.
It’s crazy this video only has 8k views
Thanks for watching.
I just got my secured card w 500$ credit line so only use 50$ for 10% credit utilization?
I did a video on utilization that answers this. Check it out: czcams.com/video/NG8WV0yXLSY/video.html
🙏🏻🍀💯
Thanks for watching, Tommy.
🎉🎉🎉🎉🎉
Thanks for watching.