How often does your credit score change? How fast is your credit score updated?
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- čas přidán 19. 06. 2024
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NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
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Our site: www.ProudMoney.com
Contact: Adam Jusko adam@proudmoney.com
(for business/media inquiries only; unfortunately I do not have the time to offer thoughtful answers to the many individual credit & money questions I get by e-mail --- but I do read them and try to incorporate answers to common questions into future videos!)
#creditscores #credit #fico - Jak na to + styl
Support our channel by choosing your next credit card using one of the card links at:
- BEST: www.proudmoney.com/best-credit-cards-on-the-market/
- CASH BACK: www.proudmoney.com/best-cash-back-credit-cards/
- TRAVEL: www.proudmoney.com/best-travel-credit-cards/
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- BALANCE TRANSFER: www.proudmoney.com/best-balance-transfer-credit-cards/
- GAS: www.proudmoney.com/best-gas-credit-cards/
- BUSINESS: www.proudmoney.com/best-business-credit-cards/
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- BAD CREDIT: www.proudmoney.com/best-credit-cards-for-bad-credit-unsecured-secured/
(We'll get compensated if you're approved, and we thank you kindly.)
Other ways to support this channel:
- Get a $25 - $325 bonus when you open a SoFi Checking/Savings Account at: www.sofi.com/invite/money?gcp=68388c1c-9593-48a6-8872-7052db78d937
- Use our Amazon.com link: amzn.to/2PpQWoB (As an Amazon Associate, we earn from qualifying purchases.)
.
NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
I've learned so much from this guy. I just want to say, "thank you!".
Thanks! 🙏
Facts!!!!
Right me too it’s to the point I don’t watch or listen to anybody else when it comes to credit but him I learned so much from this man my credit score is getting better and better that’s my guy👍🏾
Drop classes like trig or calculus in high school and replace them with financial literacy courses and credit reporting as well. Make it a required credit to graduate high school.
They won’t educate you they make money from interest and late payments
You always explain things so well, Adam. Thank you!
Perfect! Thank you. So very concise and easy to understand! Excellent!
This is my favourite channel in terms of credit literacy. Thank you so much👍
Wow. This was so informative and easy to watch I kinda snapped out of it like half way through like.. Dam this guys good haha
9:08 I never considered the fact that the GOOD stuff falls off too.🤔
Your videos are very informative, thank you!
You are amazing 🙏🏼thank you for all the explanations and tips🤗keep the good job
Awesome video. Amazing content
Very informative video!
Can you please make a updated video on the best cards for dining/carry-out?
I think that’s a video that many would find very helpful.
I learn so from him...Thank you
Update was needed! Thank you.
Thanks for watching!
It really sucks when you pay off a long standing loan. If I pay off my oldest loan my score drops 20 pts. So I paid it down to $1.00 just to keep the account open.
Thank you this channel has really thought me to maximize points over the last couple years
Thank you!
My credit score went down 12 points because my utilization went up from 6% to 8% on my $4,000 with perfect on time payment and only 1 time of a 27% utilization with the rest under 10%. Learned to put all cards due date not more than 5 days apart because some like Capital Bank and Discover only adjust them once a month.
i love this channel. some visuals would be nice tho
I am the visuals.
Great video!
Thanks!
My biggest question is where do i get a shirt like yours?.
Ahahahah
New sub here. Great videos!
Thanks! 🙏
What about inactivity - that lead sto closure of credit card ?
Everyday, to every week, but creditors report only once per month.
If an au got added to reports 2 days ago... it's making a drastic change on everything, when will it change my score and FICO score? It didn't change when it got added and not everything updated to reflect changes to FICO factors. It added extra 7 years to oldest act (3 to 11), added 29k available credit (utilization 14% to 7%), aaoa went from 9 mns to 15 mns. Not to mention 30% extra on time payments from 11 year act being added. It got added to Transunion and Experian so far but the FICO area didn't update yet. How do I get this updated? Anyway to do it without doing hps? Score didn't change, just the card got added. Looks like not finished updating everything yet
Isn't this the truth. I paid off a 1500+ debt I had on one of my credit cards, lowering the debt I have to somewhere around $80 (due to my daily use Citi Double Cash.) I'm anxiously waiting to see what paying off that debt does to my credit score.
Good
But you have to get a new credit history to get a long credit history
I don't know, I've gotten several new cards opened up with zero fluctuation of my score...
same here I have like 5 lines. its bs
@@patescortez88 damn nice. Which cards do you carry
As with many things, your results may vary, there are several factors at play.
Generally a new hard pull and new account will result in a small drop for most people.
For others it could result in an increase.
For others, it could do nothing.
Well now I feel silly, lol.
I pretty much have the credit score figured out. For shits and grins, I applied for Credit One. APR 30+, and lower my initial credit available from 300 dollars to 225 dollars. I got it yesterday. I called this morning to see if I had to request a PIN, it said it`d be mailed. I clicked on available credit and found out my APR is 23.99(not that I care, at the most I utilize 10%) But it said I have 300 dollars available. I thought it was going to be 225 dollars. Have I missed something? Thanks
Would prob be the 79 dollar annual fee that's applied to first month
Strangely enough not that long ago I applied for the PNC credit card to get 4% back on gas since I worked for Jimmy John's and drive for them I got denied in a few days later my credit score went up like 18 points.
Hey Adam,
I recently got the Amex Platinum in the first week of Jan 2021. However, I do not see the card added still on my credit report. When will I see its hard enquiry or card added in the credit report?
Amex personal cards take longer to report on average. Most people will see it after two months.
Also, you may not get a hard inquiry if you're already holding another AMEX.
You should see the tradeline around February or March 2021.
🔥🔥🔥🔥🔥🔥
Well my score is above 700. I tend to pay off my balances, and to keep the total balance (and Individual) under 10 percent. But this month I had to use more of it and now I'm trying to pay them down 2 are at 30 percent, and i have no balances on the others (I have 5). Now I noticed that they went up because i have higher usage, which is a puzzle? I have a 15 year history. Anyway, it makes me nervous having balances above 10 percent, so i will pay it down as soon as i can
My strategy is, I dont use the credit card if I dont have that amount in hand. I have credit karma app that I keep an eye on each cards when they will report to credit bureau, typically once a month. So with that said, I use my card and pay it in 1-2 days or once balance is posted and just leave below 10% balance. Then, once it is passed 2 weeks since they reported to credit bureaus is when I pay it ALL OFF before the next statement is generated , means no interest yet. For example my BOA card is reported every 8th of the month. I use my card to whatever I need ( car ins, phone bill, gas and groceries) but I have to leave 8% balance when I am close to the 8th of the month.
NFCU pre qualify for visa card that i applied and i got approved for 1k which i didn't took the offer. My fico score went down 60 points. Now i can't even that minimum credit. Can that institution manipulate my credit score for declining the credit card
If you filled out the application form to get the card, you were hit with a hard inquiry because NFCU and all other banks do a hard check to see f you are worthy of what they want to give you. You need to look at your credit report in detail to see what went wrong and read carefully when completing forms that check to see if you are Pre-approved (soft pull/no change) vs. the standard application form itself (hard pull/penalty). Hard Inquiries will dip your score by a few or more points depending on how many that you have (multiple hard inquires reported on your credit profile = bigger point drop) and stays on your history (unless disputed) for 2 years from the date of when you authorized it.
@@masterbrice exactly that’s why I don’t apply for credit cards I let them offer me
🙌
Substance
Thank you 🙏
Fact: Paying off your vehicle loan early will hurt your credit score.
And
For credit union owner that carries credit card. If you pay off your credit card and you over paid, let’s say your balance is 500 dollar and this is your credit limit and you pay off more than your credit limit let’s say 2000 dollar, this too will show in your credit report that you owe your credit union credit card.
Makes me laugh you have to take out credit cards/debt to get good credit score ridiculous
Drop classes like trig or calculus in high school and replace them with financial literacy courses and credit reporting as well. Make it a required credit to graduate high school.