Paying A Credit Card Bill (I Wish I Knew THIS)

Great video, Daniel. Thank you.

😖 What??

Im soooo confused!! I get pissed because everytime i get close to an 800 score it dont happen!!! Like right now... im setting at 798 you have got to b kidding me!!!!! I wanna SCREAM!!! Makes me just say, forget it!!! I DON'T CARE IF I EVER REACH 800+ Its not worth the stress trying to figure it out. Right now my go to card is CHASE FREEDOM UNLIMITED!!! Before that was my Discover. I try to get as much free money out of each card I can get. I could careless about free Air flights, Hotels, Etc.... I only use my cards to pay my bills, shop, gas, groc and I want the most I can get. I get paid the 15th & 30th I pay those cards off on those dates but still can not, NOT GET THAT 800+ SCORE Grrrrrr

Thank you so much!!! You have answered my question that I was not being able to get clarity from the credit card company customer service.

With einvoice of full amount sent to your bank, you only need to ok the invoice in your bank instead of worrying all of these.

This might be a really stupid question, but how long do credit card companies keep rolling over balances from month to month? For example say I had a balance of $100 in January and I paid the minimum due, let’s say $20, the remaining balance of $80 is rolled into the the next month’s balance. Let’s say I spent $50 in February, so $50 + $80 = $130. Say I pay the minimum balance on that amount, $30, which leaves $100 rolled over to March, and so on. If I continue to pay only the minimum due each month does it just keep rolling over until I reach my cc limit? Obviously I would never do this! I’m just curious how it works!

I pay off my balance in full at least once a week. Doing so lets me keep a look-out for fraudulent charges.

This info is f golden

I’m sorry I don’t understand anything you say too much they do they after they before they you got me here crazy I just got a credit card a week ago and I’m learning how to use it but you explanation about how or where to pay or when I’m sorry, you confuse me more 🤦🏻‍♀️🤷🏻‍♀️😩🤪

This was way too complicated, and I mostly understand the billing process. Even I was confused!

Great info, but you talk SO fast! Slow down!!

Great video. All great advice. During the GFC 2008 time frame credit card companies where scrambling to shed excess exposure. I had a few credit cards closed during that time as I had not used them at all in several months or years even. The cards I had balances on were not touched but did notice on some the credit limits were reduced. I mention this as were are possible moving into a recession, especially if interest rates stay elevated and we could see a repeat of the same.

Don't waste your time watching the whole thing.
"Pay the bill."
That's the video in 3 words.

❤

What I want to know is why my credit score drops, sometimes a couple points sometimes 30 points, before any due dates with no changes (purchases or payments), on any card the previous month and all cards are current. What causes the random point drop?

Too fast

AMEN AMEN AMEN THANK YOU FATHER FOR PROVISION TO REMOVE ALL DEBT AND TO BE A BLESSING TO OTHERS. LORD I BELIEVE IN YOU AND YOUR WORD, IN FAITH I THANK YOU FOR THIS PRAYER IS ALREADY ANSWERED. IN JESUS NAME, AMEN 🙏🏽 💖✝️

"Payment due date"

Hey so technically if I choose a recurring bill that is about 1-2% of my credit limit I don’t have to worry about making a payment before billing cycle closes and just allow auto pay to pay the balance on my due date?

As someone who just got their first credit card, thank you for breaking this all down into a way that makes sense!

I’ve been doing the 15 & 3 hack. It’s made my credit score go up tremendously.

I don’t even know when the due dates are. I pay all my cards weekly.

...bla bla bla... Why do You talking so FAAAST ????

This was really useful! Thank you

America makes this credit stuff complicated so Americans can be in debt. Why in the hell is paying a simple debt off rocket science ?

you need to put it into more simple terms. we can all read and say what your saying use the words your using doesnt mean we understand.

U earned a new sub Man U explained this so perfectly bro I’ve watched a couple vids that left me confused but yea man you got this great job

So it what you’re saying is pay half before the statement due date so it looks like I’m not using so much of credit limit but not all of it so it shows that I’m actually using my credit and pay the remainder on the payment due date so that I won’t have to any interest on the credit card

If you don’t already know this stuff then your parents failed and you should have never been allowed to have a credit card

Better to spend Money like there's No Tomorrow! Than it is to spend tonight like there's No Money!!
VISA! "Time To Start Paying!!"

Autopay can turn into autopay HELL. Don't do it. Set up alarms, mark your calendar, pay when you get the bill.... don't do autopay. Also if someone gets in my account online I know it was not me because I don't do that.
CS over 800 and I'm low income, thrifty but not cheap.

Automate your bills.

Thank you Sir, really appreciate

Sooo How do you pay off your credit card? 😂😂😂

Thank you so much for these videos man.

if i treat credit card as debit card, then why should I keep credit card? only for those idiotic reward points?

Question about Credit Utilization for whoever can answer: Does using 50-80% of my credit limit then going down below 10% before closing date (for the snapshot) affect my credit score increase? I have low credit limit for my first card that I want to use for bills but it’ll cut close to the limit which I can pay off quickly but don’t wanna if that will just do more bad than good. Thank you guys in advance!

Thank you for this video and for explaining everything in an easy way. 👍🏼

Hello, I'm rebuilding my credit, I just got a Capital One Quicksilver card with a $300 limit. Can I use all of it and just pay it off every month without hurting my credit?

I wish they would do at least an 1 Class per semester from Middle school starting in 8th grade until graduating high achool covering the importance of financial responsibility and The Importance of Credit, how credit works, DTI, CUR, etc in depth. Its one of the main reasons why brand new Soldiers straight out of bootcamp who grew up extremely poor (such as myself) or even those from a rough background with little guidance run the extreme high risk of predatory lending (Car Loans, Pay-Day-Loans, Title Loans, OMNI Financial, Pioneer etc etc you name it) . Some of these kids get screwed with 28% on that Camaro then the first sergeant has to unfuck everything lol

I finally learned the hardway of responsible credit ususage. I'm Finally at 10% CUR and at record pace to be debt free by new year after years of mismanagement and a high CUR and shit credit score. Im finally over 700 for the first time in my life.


Credit management is hard work in itself and takes alot of discipline to do it responsibly 🫵

Do I report low balances on Credit cards prior to statement closing or report $0 balance prior to statement closing?? do they want me to report SOME type of usage on ALL credit cards? Some type of usage on SOME credit cards? Or just none at all? they keep destroying my score while I'm paying them all on time. Tried both ways and it's not benefiting me

Every highschooler should be learning these things as early in their life as possible.

Good 101 for beginners, but the advice on credit utiliazation percentage is flat out wrong. You should keep your credit utilization below 30%, when possible and that is in aggregate of all your available credit, not under 10% of a particular credit card. I use my CC to pay for anything and everything (and for other people too if they just want to pay cash) to maximize points. However, I sometimes run up to 50% during peak usage periods once or twice per year and my credit almost always remains over 800. In a perfect world I should open up slightly more credit to keep my utilization lower. However, my credit has always been high enough to get the top-tier credit offers whenever I need to purchase/finance something. But, he is right, use it like a debit card and pay off, in full every month or you will go into debt.....we have all been there and it sucks to pay money for nothibg.

I highly recommend getting into a habit of paying all of your bills at the beginning of the month regardless of due dates. Once you have made sure you are up to date, begin paying on the last day of the month and pay them all then, you avoid ever being late. It is so satisfying to know you are done paying bills for the month. Highly recommend Dave Ramsey's "Total Money Makeover" book. Made a huge difference in my life.

Are there people who don't already know this?😂

My question is this. Using your example of $48 statement balance. Lets say you buy Something for $100. So now your live balance is $148, but if you pay the $48 you won’t pay interest? Even though you are leaving $100? Which is will be the next statement balance assuming you don’t purchase anything else correct?

Thanks 👍