Are Credit Card Payments Stealing Your Money?

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Christy Vann and its affiliates do not provide financial, tax, licensing, legal or accounting advice; the information presented on this web site/KZbin channel are presented for information/educational purposes only, and following the advice in this video is the responsibility of the viewer and not the video creator. By participating in this KZbin page, you agree to comply with the following guidelines. In any case, the information provided is “as is” with all faults and without warranty of any kind, expressed or implied. In no event shall Christy Vann, or any affiliate organization be liable for any damages, lost profits, or lost data even if we have been informed of the possibility thereof. Linked Items may create a financial benefit for Christy Vann. Christy Vann is an affiliate of Unstung Marketing LLC and may receive compensation for referring you to their services.

[@hannahviolette4553]

This is EXACTLY what we are doing and it's working!

[@kornshadow097]

Great advice

[@douglasriche78]

I am currently using a cc as my debt tool. It has a $20,000 limit. I currently owe about $7,200. I should have it paid off in a few months using this strategy.

[@Moving2Win]

Any update?

[@Rebeccafranklin-tq9zz]

This is a very good video as it simplifies everything

[@aa22186]

I'm slowly getting thgrado of this, and it's working. But I still don't understand it all. Thank you so much!

[@MilesP757]

Thanks! ❤

[@robertlenzo3303]

I assume the money you're "saving" (the original credit card payment) you should at some point roll into the credit card balance when you can to help pay it down to $0 as you're using it for expenses? Otherwise the original debt doesn't go anywhere.

[@Stevie_Collier]

Currently getting my MBA from one of the top schools in the US… did not know about this. You are a life saver and doing God’s work. Thank you. What if you have two loans from the bank already? Will they get you a line of credit? What if they refuse to give you a line of credit? I bet you have a video on this but I’m new. If you do have a video I would love to watch it!

[@deval3596]

you can use a credit card as well which is another type of line of credit. if they don't approve you for a personal line credit they will give you the reason why by law, just like if you were applying for a loan.

[@linettmarte1960]

Hiya Christy! I fell upon your channel by the grace of God and I’m loving what I hear! My husband and I are trying to pay down our consumer debt to buy our first home. The majority of our debt is in credit cards. I can see how fixed household and misc. expenses can be paid with a credit card but how does that work with the credit card debt since we can’t pay one credit card with another? 🧐 Thank you in advance!

[@VanntasticFinances]

@linettmarte1960 look under my Playlist at CREDIT CARD DEBT STRATEGIES

[@earthtoemily4855]

I have excellent credit and was just approved for a credit card with an $18k credit limit 0% interest for 18 months from my bank. Is this the same thing?

[@darrell_dee97]

Yes, you can do the same thing with a credit card that has a 0% interest period.

[@LevelGee]

Oh dang I just made a bit of a chunk today and just watched not to do a big chunk, can I ask why that wouldn’t be a good thing? & why would the bank cut it down if you’re paying it?

[@betitos11]

Yes but what i dont understand is that you dont show where she does not have the full amount available as credit because the CC company takes the interest out of that $93 dollar payment. Does that mean she adds the $93 dollars to her payment ??

[@mygoodlife204]

no. the $62 less interest becomes cashflow

[@betitos11]

- $400 X 2 =800 monthly expenses but that doesn't include the $93 monthly card payment. If $800 is deposited monthly to that card the full $800 is not available to use because interest is charged. So should the payment be $893 ? And what happens at the end, are you at negative cash flow again ?? 🙄

[@djpearson5722]

Seems to good to be true, but makes perfect sense! Thanks for the revelation on finances! I appreciate that you are Bible based. We are about to get started and see where it takes us, nothing else has worked so far. God bless you!

[@deval3596]

my situation was similar to this person, I only make 2800 after taxes and I have paid down my debt from $30K to currently $14K. the only assistance that I've had to bring it down was my tax refunds of $4K was which I applied the full amount. Started in December, I'm on schedule to be done by Nov/Dec of this year even after I spent more in April that I planned on.

[@deval3596]

@@DrFinancialLiteracy no the biggest paydown chunk was $4k. if I didn't have a tax refund my outstanding debt would be around $18K, still down $12K instead of $16K. and I'm doing this all on a credit card.

[@littlecupcakespuppies]

you got me with the thumbnail!

[@_1Brick1_]

Any way to do this without getting a line of credit?

[@Grandream]

If you don't have a PLOC, do you already have a credit card?

[@deval3596]

credit card, heloc or ploc, they are all lines of credit.

[@Grandream]

@@DrFinancialLiteracy To you as well, but please keep in mind that what you’re doing is technically considered SPAM. I only say to suggest you tone it down a bit. People can and would report you for this and it may negatively impact your channel. I get you’re trying to play the KZbin game and all but you’ve posted 11 messages on this video alone. You alone are almost a fifth of all the comments on this video.

[@Grandream]

​@@DrFinancialLiteracy If you look up Google's policy for "Spam, deceptive practices, & scams policies," you'll see a section that includes, "Repetitive comments: Leaving large amounts of identical, untargeted or repetitive comments." Polite as your comment may be, it is indeed repetitive as it's almost the exact same comment each time. Add in your Channel's name and the large influx of videos you've been posting recently, this would also push into the advertising your channel territory. Could rub a lot of people the wrong way and lead to people reporting you. Either way, just be careful, because it could lead to detrimental effects to your channel.

[@VanntasticFinances]

@Grandream They were blocked…thank you

[@michaelstrauss6587]

Christy I just found your channel and I think it's great. I don't make much money, but I live simply and don't have any debt. I just finished a screenplay and may soon come into some money. I don't like or trust banks. Is there anything you can recommend? I've heard of being your own bank. Is this a thing and how does it work ? Any advice would be helpful.

[@michaelstrauss6587]

@@DrFinancialLiteracy Thank you, blessings and love to you and yours also.

[@IAMDC144]

👍🏼