I have a $110k credit limit on one of my Bank of America credit card. Will there be a problem if I make a $100k purchase? I'm actually using it for renovation

For me, it's not that difficult to get 1% credit utilization reported, I just pay 99% of balance a few days before the statement close date (I usually pay 3 or 4 business days before so it has time to post) and then let my autopay take care of the 1% when due so I always pay in full each month.

This sounds like how we did at the phone company, but instead of transactions, we looked at usage on the phones. We also did fraud checks on that customer if they were new

Commenty bank big lots refused to cancel my acct after cutting up requesting cancellation . I found out it was still opened,Used it and when paying returned my check saying illegible. it was not and charged $35

Any fake small business can supply wrong information by introduce just a fake business and supply junk reports can destroy credit card industry

So use the card once a month on something and they won’t be able to close it ?

I had a 790 credit score FICO. I accidentally paid off all of my credit cards. So I was at 0% of 110k total limit. My score dropped 20 points! Basically I’ve learned to keep my balance between 1-9% all the time if you want the best FICO score possible

I just got a Care Credit account because of a very large emergency vet bill- the original amount I requested was $8,000, but when things looked like it wouldn't be enough, I doubled it to $16,000. I got it because I was told it was 0% interest for 12 months, but it turned out they only offered that for charges over $5000. Less than $5000, is 6 months. The problem I have run into is they bill you up front for what their estimate is, but when the bill goes higher, they give you another bill- so I now have charges for $6500, $2100, $2900, & $3000 all from the last 3 weeks! The 2 that are almost $6000 are on the same day!!! But now I only have 6 months to pay all 3 of those little charges because of the way they billed them😢 If I get close to the 6 months and can't pay off the rest of that $8000, can I do a balance transfer to another card? Thanks❤

What if you have charge off on credit report and original company refused payment twice so now it's creditor says it's a bad dept and a loss but they have it as a lower balance but they won't contact me and there's no contact when I try what should I do

What would I be approved for with a 770 credit score and only make 20,000 a year on disability?

It depends on the business model of the issuer.. you have to be exploitable for profit.

I just had 0% utilization and my credit score only went up by 1 point

They don't approve secured credit card applications though it's prepaid because the banks who refuse to has some shady stuff going on in their shop. They cannot be preditorial and charge you out the wazoo in over the limit fees and interest and this is the main reason they would turn down the applicant because they are greedy and corrupt. They know if you put down $500 in security deposit, that you will have $500 to spend at the store and once you max out they cannot go over your credit limit with astronomical fees and interest charges

Can I closed secured credit card of $300 opensky card

You look really tired dude. It's okay, you can stop recommending people to go into debt.

😮

John, you helped me go from 602 to 817.

how come my credit score dropped does it have anything to do with the credit card company reports to the credit bureau sometimes reports a zero balance sometimes reports a balance I am guessing that’s what could be the problem have to leave a balance, or leave a zero balance to be reported to the credit bureauwhat is your thoughts?

John that is not true I had zero balance on my credit balance they dropped my credit score by 16 points I don't understand what's going on

Why does EXPERIAN say I can increase my credit score with new cards.

Pay to delete absolutely works. I had a medical bill from 5 years ago . After calling the collection agency, they offered me a pay to delete. They issued me a certificate of deletion, and a day later, the derogatory account was removed from all credit reports.

It's better to never let an account go over 29 days past due.

Thank you for explaining this in a way I can understand !

How does a closed account impact credit score

It's 2023 and my credit card apr is variable its at 34.24% smh

Hi Brian, I have substantial credit card debt (six different credit cards), and I was wondering if you might know an institution that can give a loan with a low-interest rate (ideally 10 or 15%) to pay off all credit cards and remains with this loan? Thanks!

They don't hoe did someone spend 1500 in one day over 15 transactions!!!!

I went from 0% to a 1% ultization on vantage score 3.0 model and my score went down 1pt. In my case 0% was better cause when I paid it off to 0%, it went back up.

Awesome insights ! Thank you!

Quick question, when applying for a Business Loan, will they be able to see credit card debt using EIN number?

Can credit cards be closed if you no longer want one once it is paid off completely?

Thanks for sharing your video. It’s very informative. I have two questions regarding 0% intro APR purchases. 1. Suppose I got a card limit $10K with 0% APR for 18months. If I made purchase of $5K in first month and then I don’t use that card for 18months. Do I need to pay any amount every month or can I pay complete $5K on 18th month. Will there be any interest charge to me? 2. For same card after making purchase of 5K in first month if I make another purchase of 2K in 6th month. Do I need to pay any amount every month or can I pay complete 7K in the 18th month? Will they charge any interest? Thanks.

This is illegal. TILA.

Am I the only on that noticed this??? How is it that the utilization ratio stays the same? You just increased your credit limit with a new card. If you have a new credit card then you have new high credit limits (i.e. your total credit cards limit). Your debt hasn't changed but your credit limit did. Shouldn't your utilization ratio be lower and not the same as you claim?

Airport lounges are overcrowded Sizzlers these days. Definitely not worth it.

Discover lowered my limit from 4000 to $500 and Aspire lowered my limit from $1500 to $100 for not using it enough. Discover same thing ..

I trust your advice because you are Caucasian.

Thanks for your video! My question is regarding settlement, is it a good idea to include closed accounts with balances on an account settlement program? Currently doing it through Pacific debt inc. but I was wondering if maybe I don’t know how to include the closed accounts to reduce the monthly payment agreement.

I have a 0% intro credit card for 12 months term. I charged $1000 to the card when I got it in Feb 2022. I have been paying the balance down since then. At the end I will have paid down my balance to $500 by 1/4/23. Question, Intro period ends 2/3/23. Will the card company charge me interest on the $500 balance starting Feb 2022, or interest on the balance starting from my last payment?

I have problems purchasing online with a card the bank tells me is fine, and which works as normal with in-store transactions. I currently want to buy internet protection from Bitdefender but my card does not complete the transaction. I get no call or text from the bank to verify the transaction, thus it fails. i tried making the transaction with PayPal and again, a fail. Is it Bitdefender or the card? All this so called security will kill trade if it doesn't work properly, and for what? To keep the banks from getting stung with snatch backs. Understandable, but for many people needless frustration. It doesn't take a minute to call a customer on the phone and ask if it is they who are making the purchase, but no, they have to pay millions of £$ to computer geeks for software that doesn't work as well as they claim. 3D Security for instance is an utter waste of space, especially for older people who are not mobile phone literate or a bit slow because of arthritic hands. Technology will be the downfall of this world when all the lights go out. You mark my word.

ahead of your time

Hi, I know this video is almost a decade old but my credit score decreased significantly because I opened a new line of credit and used most of it. What can I do to stop the effects? Close the account? Pay it off? I wasn’t aware I was opening a new line of credit or that it would effect my credit. I’m lost and just want my credit to go back or I’ll probably won’t be able to get the house I want.

What if you buy something at 90% of your total credit limit and pay it off right away? Will that hurt your credit score?

Yes. Get 3 and keep Utilization below 30% between all 3. Pay on time always.

Had a Cap One Plat sec card for 2 years with 1K deposit. After having the card for 1 year they sent me an email approving me for a quicksilver card with a beginning credit of $4,500. Have called 3 times asking to have Plat card unsecured. Told no. Asked them how they can give me quicksilver card with 5K (They increased the limit last week) they could not give me a logical answer. So....................I closed the plat card. Has a $0 balance as does the qs card. Not going to keep that plat card open and keep hoping. It was 1K which is about 1% of my total credit card credit. Will not affect my Utilization which is always below 5%

Only an idiot would keep an unsecured card for longer then 2 years!

Discover did this to me and reduce my limit from 5k to 4K so I called in and asked it to be reduced to $500 lol. You lost my business

Hahaha miss a bill and see if they report 🤣

I believe banks are currently redlining because zip code is first information requested when applying for a loan.

If I have a 5% Utilization rate, should I have a Fico credit score of 750 or more ?