How to Dramatically Increase Your Credit Score (Short Term Strategy)

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We have a lot of content about different credit cards and how to optimize them, so how do you increase your credit score in the short term to qualify for premium cards?
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[@AskSebby]

Lots of questions about timing. I explained it a bit more in another video here: kzbin.info/www/bejne/mp2sqJRji9CtiLc

[@Bkaithaone]

How does an amex platinum card affect your utilisation? Is there is technically no limit, does this affect your utilisation?

[@da-profezor5178]

Ask Sebby just subscribe to your page definitely very informative and like the way you explain things.

[@empressvaldez753]

HELP me I have a 420 credit score & I only owe 1,055 on one card & 1,069 limits on them HELP

[@amethystmaries2567]

Hello, I’m 20, and trying to build my credit. I have a limit of $200, so my limit, in order to stay in the excellent category, is only $20. I went to a credit coach, and he told me to spend the $20 limit per week, but pay it back every Friday. He said that will add more payments on my statement. Does that really work? Will that really help boost my score? (Welcome to answers from all)

[@amethystmaries2567]

@Jalisa willis No I have not. What is that?

[@stephaniebender8319]

The economy and bank situation have been deteriorating for years. I'm a crypto guy, so that's where I hang out. I always make new investments. Currently holding a portfolio worth $850,000. Time in the market is always better than timing the market.

[@samanthaesteraherrera4847]

Wow. I'm in awe of how a portfolio that size has endured in these risky times. After years of stock and cryptocurrency investing, there is one thing I can say for sure. Consult a professional for the best results.

[@stephaniebender8319]

@@mallorygallegos3584 Thank you for this update.. I booked an appointment, lets see how the coming weeks will be as regards my portfolio..

[@dmm615]

Sebby, I watched this video in August. My credit score has went from 670 to 740, and still going up. My wife's has went from 700 to 780. This video is gold.

[@jabari189684]

.

[@iamOAKland]

Xiuixan Tarot scammer

[@tidalwave4961]

That's not very much really

[@skreampub]

@@1000grzes where can I find them please?

[@skreampub]

check their youtube channel or website

[@samb378]

Had to come back and say thanks! Watched this video two months ago and so far I went from 650 to 697! Into the 7’s soon. Thanks man

[@samb378]

Now at 740

[@Bacnow]

@@samb378 - you killing it bro! Keep it up!

[@ChannieChauni]

@@samb378 you should drop a video on what you did.

[@samb378]

@@ChannieChauni follow the video lol

[@AskSebby]

TLDR: Pay off your credit cards early to keep your utilization at 0-1%. Pay off your cards in full when the statement comes. If you're paying interest to the banks, you're doing it wrong.

[@qx747srr]

The credit score models don’t make sense: do the banks like big spenders? Shouldn’t we keep a balance of thousands of dollars every month and fully pay it off every month to keep the credit score high? Why do the credit score models reward petty spenders? The utilization ratios shouldn't matter. It should be the payment ratio (over the total monthly balance).

[@AskSebby]

I definitely think the models can be improved but I it's what we're stuck with for now. Maybe because I'm a giant nerd, but I look at it like a game. Given these set of rules, what's my optimal strategy? On the bank's perspective, their first goal is to minimize risk of defaults. The second goal is to make money on you via interest or transaction fees. If you are a big spender, just pay off your cards early. No real cost as long as you have the money in your bank already (again, the goal is to NOT pay interest to banks for me). The idea with utilization being negative is that the more money you owe to other people, the riskier you now are. Imagine if the bar you go to let's you keep a tab open. If you were a new bar considering someone, who's more trustworthy from a risk perspective: 1) Adam: relationship with each bar but owes very little money 2) Bob: owes a lot of money to each bar, big drinker Sure Bob is an amazing customer, but is there a risk he runs off given he owes money to the whole street?

[@qx747srr]

Great videos btw. I find your tips quite useful!! In my case, having a low utilization didn’t help me get new credit. I run relatively high credit card balances from business travels (e.g., around $5,000) and I usually paid them off upon returning to office, before the statement closing dates. Thus, my credit reports often showed zero monthly balances. Recently, however, I was rejected by Citi for not showing credit card “activities.” My FICO is in the 800’s. In this case, I presume that I should keep, say, 10% credit card balances until statement closing dates to show up on the credit reports (before paying them off) to improve my credit standing. Or, does it mean that having a zero balance is bad, while having a 1% balance is the best? Should I keep a bigger balance to tell the banks that I am potentially a big spender?

[@AskSebby]

Very fair points. "Technically" 1% is better than 0% but I also want to encourage the people who aren't as good with credit to not carry a balance month-to-month (I hate the idea that people are paying crazy interest). Being a bigger spender typically doesn't have an impact on your future credit limit. For example, I'm at 0-1% with Chase but for new cards, I always get limits in the $10k-25k range (I also decrease my credit limits to about $5k after getting the card, since I don't need that high of a limit for my purposes). There is a hack to increase your credit limit for the card without a hard inquiry by going near your max (i.e., $5k limit so you go to $5k for 1-2 months. They realize that you need more credit so auto-increase it to $10k for example). But that's more helpful for people new to credit (1 card with a $500 limit). Also, it doesn't solve your getting new cards from Citi problem. How many inquiries do you have in the last 6 months? People have been mentioning that Citi might be auto-rejecting if you have 6 or more in the last 6 months.

[@qx747srr]

I don't have other inquires, only a lot of zero balances. I would consider myself a high revenue customer to many banks. That’s why I was flabbergasted after knowing the rejection. Now the question is how much balances to keep in order to raise my credit score further. If only 1%, wouldn’t it hurt my chance to be known as a potential high revenue customer?

[@zanzavales]

To lower my utilization while I'm working on paying off debt; I just asked for a credit limit increase on my current cards and didn't spend any if the new increase amount.. score jumped up about 30 pts month late 👍

[@markandlew]

Does inquiring for a credit increase temporarily decrease the credit score?

[@kindeep]

Mark Lewandowski yeah i have the same question

[@greencase]

@@markandlew no.

[@sisslims29guess8]

@@kindeep no because most but you can ask the card representative if they will be running a hard inquiry(refuse this) or a soft inquiry (accept this). Most credit increase card run soft inquiry which will not lower your credit score. So if you have a $1000 and you spend $300 that's 30% utilization which is no good. However, if you ask for a credit increase and lets say they approve you for an additional $2000 making your total card limit $3000..that $300 you spent now becomes 10% utilization and you credit score will go up.

[@kniteryder6274]

They always deny me for an increase they pulled my credit from march and it was 497 I told them this is june not march

[@malayjia1023]

This is unbelievably helpful. I just love how you make this understandable and not difficult. I am 16 and I understand this fully. I know this is going to help me in a long run. This video is better than a hour in my civics and economics class.

[@BeANicePerson_]

🤯😳 16 tho.. I'm a grown adult and I'm just starting to learn these things. It's sad that a formal education doesnt teach us about these things or about stocks.. dont get any better in college either js 🤦‍♂️

[@shaunguzman1334]

I wish I started to learn all this at 16, your amazing. Keep it up, it's going to pay off.

[@symonesalley]

good for you, keep going and learn important stuff while before it's too late

[@mylifeisamememylifeispathe3140]

Tell your parents to add you as an authorized user of their credit cards it will help you in the long run you don't even have to have the card or use it just be a authorized user Look into it :)

[@casinopremotv]

Sebby I want to thank you I started watching your videos in 2018 w/ a 504 credit score. Now I’m at 750 . I was able to finance a 2018 Dodge Charger w/ 5% interest in 2019. And now in 2021 I just bought a 500k Multi-Family home 🏡. Thank you very much because everything started with your videos. I wish I can meet you to shake your hand 🤚🏾 💯💰🐐

[@darrenanderson5306]

Sebby, these videos are FANTASTIC!!! In 45 mins of watching your videos, you have answered a multitude of questions I have had over the years that NO ONE could really answer on a level that was relatable. Thank you for being you... and helping clear up all the millieux of credit cards for me.

[@TheJetsnumbaone]

Watched this video a few years ago and went from the 600’s to almost 800 thanks Sebby!

[@AskSebby]

Glad to see the outcome Kenny :)

[@mikebills5547]

Sebastian you are the best. Love your videos! Please never stop. Literally watch these at 3am when I am bored on my nights off. You have taken all of the leg work out of applying for cards. YOU ROCK!!!!

[@sqc281]

Hey, I honestly wanted to thank you for your time. Oct 2017 I was at 482 respectively on my scores across the board. Thanks to your channel and explanation, I have not only utilized my cards to boost my score but gained positive value on my cards. Now only 4 months later I'm breaking 710 on my scores and pursing the chase trifecta. Thank you, I cannot even begin to tell you how much I appreciate your channel. And yes I used the link on your site for referral. Please understand, what you're doing and the time your investing has changed my life.(Dont mean to sound preechy) I tell everyone that will listen about your channel, thank you! -Mike

[@adrianrodriguez7366]

no way man 482 to 710 in just 4 months? Thats awesome, congrats.

[@vaghotao]

HOW DID YOU GO FROM 480 TO 710?

[@katdesignsstar9286]

How you did it? Please explain thanks

[@S3P7]

@@katdesignsstar9286 Pay off all your cards, open new credit cards for more accounts added. Don't use more than 10% of your credit cards at all. Look at the chart on Google for 850 credit score.

[@paulbaerwald8055]

Just did something similar. Fico 8 was 530 in May 2018. 1) Applied for Open Sky (no hard pull)$200. Applied for Cap1 Platinum ($300). Applied for Discover. Got approved for Discover IT (8700). 2) Added as Authorized User to two old CCs with great limits. 3) Credit Builder loan at your local credit union. I went with Self-Help Federal Credit Union. Having the 3 cards, two authorized user cards, installment loan really drive up your FICO quickly,when utilization is kept low, paid off. Use Experian.com to monitor your FICO 8 for free. FICO 8 cracked 700 recently:)

[@mindsetwithmarie676]

I don't know why no one ever teached me to care about that stuff. Here I am at almost 27 years old with poor credit and only starting now to educate myself and become pro-active about it. Just subscribed! I will binge-watch your videos. Thanks!

[@morenamorena2060]

Right, I wish someone taught me this years ago. I'm 25 and trying to build now.

[@duckhouser]

Taught**

[@christina1073]

I love your videos ! you break it down so it is very easy to understand! I can't wait to build my credit!

[@gregooo8551]

Thanks for this video! I honestly appreciate you taking the time to make this video! :)

[@chrisgurl3043]

Thank you Sebby for this information. Very kind of you to put this video together.

[@theresawebb8164]

Great job , so honest and to the point. Great over view of basic credit types.

[@seanmarquez9631]

Thank youuuuuu . Bro you just upped my life on alot of levels !

[@DIVA7RARIMP]

I’m so happy I came across your channel, I’m going to use your strategy for utilization bc that is what’s impacting my score the most.

[@khalidrajab1487]

This is so on point. Thank you.

[@Teewaree13]

Thanks for the tips...low utilization💰

[@RaggaMoDz]

Very true I boosted my credit to 120 points since April this year Doing exactly what Sebby mentioned. Now every morning I have my credit reports with coffee . 😊

[@michaeljohn7467]

Can you explain it exactly, cause i am confused, did he say buy some things on credit then in like a week pay it all off except like 1-2%, then wait for the bill to come in n pay that 1-2% right away way before the due date?.

[@dreamxlab]

I love this!! It’s everything I sorta know but it just drills into my head more when you say it

[@speakupken]

Great video! You do an awesome job of rationalizing strategy.

[@juanseaforth5111]

Sebby I just subscribed to your channel excellent info my credit score is 700 at the moment hopping to increase it to 780.

[@REOROWE]

You're knowledgeable. U have my subscription

[@LittleMissDeeDee]

Really helpful video! Thank you!

[@lauraroman8044]

thanks for the advice

[@ANielsen112]

good video man, just subscribed.

[@AskSebby]

:)

[@fskoko]

Thanks a lot Sebby, my credit went up from 550 to 689 in just 3 months using this method. God bless you man!

[@ManPursueExcellence]

Mike Romanowsky Congrats man! 👏🏾👏🏾👏🏾

[@Ban00]

scammer

[@kniteryder6274]

I tried that method and it didnt work although my score has risen but it's hard to keep the utilization low on a low balance credit card when you you yes it to pay utility bills

[@michaeljohn7467]

Can you explain it exactly, cause i am confused, did he say buy some things on credit then in like a week pay it all off except like 1-2%, then wait for the bill to come in n pay that 1-2% right away way

[@leilafowler8934]

@@michaeljohn7467 I could give you a good recommendation on how to bust you up credit scores tell then be eligible to get a loan

[@gothamcity007]

Awesome channel dude 👌🏽!! Thanks for the tips

[@willamsrosemary4602]

Thanks sebby I'll be working on my score from now. Very useful video.

[@CommandoMaster]

Credit history is very important. People don't realize this and cancel their first credit card, which will lower their score even though they don't think they did anything wrong.

[@Tomsfoolery.]

Commando Master I did just that! I paid off a couple old credit cards and then cancelled them thinking it would help. It did the opposite! Now I pay em off and just let me ride with a few bucks on the accounts.

[@jaymehta9304]

Hi, thank you for your video education, i followed your guideline and was just qualified for Platinum Business AMEX card after applying for 10 times!

[@ItsWillTalk]

A business AMEX is a business credit card. That doesn't have anything to do with your personal credit score right? Usually for a business card, you use your EIN instead if your social security number.

[@jacquelinecano2192]

Thank you so much for this information. Im a beginner and you answered all my questions!👍 Great Video!!!

[@cclearlynow5694]

Thankyou Sabby. Your knowledge is priceless.

[@Anzomia]

Thanks for the video Sebby! I applied some of your strategies and in one month (April-May, 2018) my credit score went up a total of 60+ points!

[@michaeljohn7467]

Can you explain it exactly, cause i am confused, did he say buy some things on credit then in like a week pay it all off except like 1-2%, then wait for the bill to come in n pay that 1-2% right away way

[@TV-rb3iz]

If I payoff right away each time i use my credit card, would the utilization of the card be 0%? is it a good choice to do that? or once a week is better?

[@eddylopez76133]

this was so helpful. thanks. youre pretty straight forward. subd and liked

[@cuson13]

Very resourceful! Thanks!

[@TheTubeMeister]

I'm in the 800 club! Bam!

[@TheTubeMeister]

JAY DANIELS yes it makes a difference. Especially getting a good mortgage interest rate. Above 760 is what you need.

[@TheTubeMeister]

JAY DANIELS 665 isnt horrible by any means. Its decent. Once you get over 700 you're in a good position. Honestly, theres no difference at all between a 800 and an 840. Same rates, same approval odds. Pretty much same everything. Even a 780 is great! Get yourself above 780 and you're golden! People that want an 830 or 840 is just for bragging rights how their score is "higher" than yours. But having an 805 or an 845 is the same damn thing.

[@tat8894]

G D how many cards do you have is it best to keep it under 5

[@TheTubeMeister]

Ty Maloney you dont want too much "potential" debt, in my opinion. The more cards you have the more potentially you could get urself in debt. That's how banks look at it when applying for a mortgage mainly. I'd say 3 to 4 cards is perfect. Keep all of them below 20% utilization. Do that and your score will jump quickly. What helps tremendously is making random payments towards your cards. Even you've already made your monthly payment, if you have extra cash 1 week or 2 weeks later, go ahead make another payment. Credit card companies see that and love that. Shows you're on top of your finances constantly and showing proof that you're determined to always making sure you're paying down your balances.

[@californianewyorkcaliforni8892]

I'm 775 now and that's with one credit card and one store card that I havent used in 2yrs. I've just been building my credit now 3yrs so hopefully January 2019 I can join the 800 club🤞

[@skaterzrule4]

Wtf!!!!!! Wow lol and they say your life can’t change overnight.

[@karimtilley8958]

I enjoy your content thank you.

[@cmama9]

Very helpful thank you!

[@courtneymiddleton3915]

My mom had put a car under my name and stopped paying it. It was like 24k but now it’s put as a charge off. Not only that she opened accounts under me since I was 16 years old and my credit score is so low.....I’m just now trying to learn on fixing it because me and my fiancé are trying to look for a house... this is just stressful.

[@namelessone1811]

Put your comment message on the top of the videos please. That way when someone pauses the video to read them there not covered up by youtube's video player progress bar.

[@jonanderson4280]

Lynn if you pause the video to read the comments, and you are on full screen, tap again anywhere on the screen while avoiding the visible buttons. It will clear the screen for you.

[@SativaVerte]

You are amazing! Thanks for all these amazing videos

[@RafaelBem]

your content is awesome. thank you sir!

[@thebipolarbear1]

Hey sebby I have a question. Say I have five cards. They have modest lines but then I get a sixth card with a couple thousand dollars limit and I use that on say a car. Then my payments are huge and I get behind. Would my five small cards that still get paid off be ok? Or would the other creditors see this one bad situation and decrease my limits on the five that are in good standing? Hope this makes sense . Anyway, great channel man . I found you through Duane at build credit tv.

[@marcussouth9503]

I don’t know if this is the best place to ask this question... or if I should ask on your blog or elsewhere but here it goes: My credit score was horrific and is now just bad thanks to one of your videos ( I mean that in a good way) At the time I had I think below 500 or right at it Due to : Late payments for months on end of school loans and a closed credit card account Simply didn’t have the money and was irresponsible. Desperate I found one of your videos and got a secured card... with a 250 dollar limit after putting down a deposit, I’ve never missed a payment, the increased my limit to 500 after 3-4 months since and my credit is up 575 on experian and capital one credit wise says it’s gone from a 608 from 474. However, I don’t know what I should do next.... should I get another secured card... Is it a good idea for me and my wife to become authorized users on each other’s cards... I couldn’t find the answer in the short term/long term videos ? I would greatly appreciate an answer and thanks for all the help you’ve provided.

[@caseypoulin3694]

Hey man I've been searching everywhere online to help me understand credit and how everything works. I've been trying to improve my credit. Your 10 min video helped me understand faster than many many hours of searching on the internet. Im 21 years old and im now just getting into this. They should be teaching this in schools

[@mekrystle]

Man, I wish I knew all of this 10 years ago!! My hubby and I just bit the hard inquires bullet and signed up for a few cards this week. We had one card, so it technically brought our utilization down from 90% to about 35% practically overnight without having to pay a dime. (Although every extra dime we have is going to that high balance card now while we keep the other ones at $0 after buying gas and groceries within our budget.) I'm 33 and wanting to get a home in 2-3 years, so I hope we're going about this the right way. I'll keep watching to learn more!

[@nikkireynolds294]

Not only do you get great perks on credit cards for having a great credit score but I recently got a brand new Kia Sorento 2018 with no interest for 72 months! All my payments are principle only and NO INTEREST!! By the time 72 months were to hit the car will already be paid off! Love your advice Sebby!

[@Maria_09]

What was your score?

[@nikkireynolds294]

@@Maria_09 730 was my score at the time of purchase

[@WakingDreams1128]

Hey man! Awesome video with lots of helpful tips. I'm just curious about the credit card utilization... When you say 0-9% being excellent and you should strive to be in that range every month, does that mean 0-9% of your WHOLE credit? Or 0-9% of Each card individually? Great stuff. Definitely will continue watching future posts!

[@thewinstons9609]

Each card

[@RisenSlash]

it's both, really

[@patriciaherrera1180]

This video is awsome. Thankfully I've been doing everything you suggest like paying my credit cards pre paid like 2 weeks before the closing date, I usually use my credit card and pay what I spent that same day so it doesn't add up. Thanks to this I have excellent payment on time score. Definitley going to subscribe to your channel

[@OldBuford]

been watching yours and others videos about fixing credit scores and credit card use and so far yours are the easiest to understand and follow. Thank you for these! Wish i had taken the steps to learn this earlier in life but better late than never i suppose

[@andreemterry4721]

I got a little confused at 3:49 when you said “ 50-47 that’s poor” but i now know you meant 50-74

[@dieselburner4461]

I thought he said wasabi at first lol. Thanks for the info though 🙏🏽

[@WrappedInScarlet]

Thanks for such a great video. 😊

[@Arthur39Z]

I found this video very helpful. Subscribed!

[@OneOfDaKine82]

Great Video 👍🏽. What's your opinion on Credit Card Utilization, is it better to have 0% or 1%?

[@AskSebby]

"Technically" 1% is better than 0% (per a lot of credit card nerds) but the difference to me is immaterial. As long as you're in that range - and not paying the bank interest - you're in a good spot :)

[@Dahmer_Jeff]

Harrison Gomez under 10% is way dramatic. For long term long term keeping it 20% or less and you will be fine. I've always done it that way and have over 800 score without giving it any thought. Your score will go up consistently and eventually it will be 750+ if you follow a few simple rules. I feel that utilization is a huge part of your score and when used correctly it will get that score up in no time

[@Shaolin91z]

1% for me.. 10% is way too much.

[@KongPengHer]

Would it be better to pay off my credit card (small purchases: gas and dinner) right away or wait until it's closer to the due date?

[@skaterzrule4]

Kong Peng Her what I got from the video is that if you’re able to pay for it immediately you might at as well, to keep utilization down!

[@ChungFat4eva]

fire info, thanks dude

[@macallan18year]

Great stuff! 👍👍

[@NickPeitsch]

Getting more and more credit cards to decrease my credit utilization rate ;)

[@timothyhoffman1588]

My score goes up 20 points every month for some reason

[@1hard2findbro]

Good information 👌 I'm using it!

[@sasham3021]

Thank you! After watching this video and paying off my debts my credit score went from 650 to 755! Thank you again it was very helpful! It took one year of cracking down and paying everything off and adding my credit card to Apple Pay. I would pay for everything using my credit card and pay it off at the end of the week.

[@Zach-xm5wc]

Sebby da Credit Doctor, what camera do you use for KZbin?

[@navjotkaur2314]

Zach I

[@isaacsworld9269]

Hi, I live in UK , I lived 6 yrs in US 19 yrs ago. I had a dormant Amex blue card all this time which I never used. Now I am returning to live in US again soon I contacted Amex and they sent me a new card with $3300 limit. I immediately spent $296 on a new stethoscope. My question, in order to maximise my credit score as I am returning there, should I pay off the whole amount before my first payment date or just pay minimum payments?

[@ArikaChennelle]

You sir, are a blessing!

[@vekheuakham3608]

This is super helpful - thank you! My credit score is in the high 740s but I'm trying to boost it a little more so I can get a better interest rate % for a an auto loan. This is great knowledge!!

[@dugroz]

I forgot to pay my mortgage one month recently (only time in 10+ years), and my FICO score dropped from 772 to 698 in a month. :( - a 74 point drop. So don't do that!

[@OGMASSA]

only thing i can do is wait. credit age is my only bad area.

[@AskSebby]

Not a bad situation to be in :) Did you watch our long-term strategy video? kzbin.info/www/bejne/Y5_Veqt5qdSNmpI

[@mighty_mattso122]

Not necessarily...get a parent or grand parent who's had a card for a long time, with a low utilization and high credit limit, no late payments, and have them add you as a user. Your credit score will sky rocket

[@jacobalvarez8385]

Matt Ludiker must be nice lol

[@tamilremixvideos727]

@@mighty_mattso122 adding additional user wont reflect on the users credit report so I dont think it helps

[@MrAny9000]

@@tamilremixvideos727 if it's amex or Citi yes, (the only ones I've tried)

[@ericrivera8341]

ASK SEBBY YOU ARE AWESOME THANKS

[@johndunston2394]

Sebby..You're videos are excellent 👍. You're advice works !!!

[@bluedreamkush2392]

And here I thought it was as simple as just paying off your card on time regardless of how much you use. Just as long you don't go over your limit. Ugh. Why can't life be easy.

[@fb557]

Right. Too many games!

[@louib716]

To be fair, it does work that way to an extent. It just takes a longer time. My credit score after about four years of having credit was 780 knowing pretty much nothing about getting a high credit score other than paying your bills on time

[@greencase]

Not that simple. Even if you pay on time, If you carry a high balance your score will never change. Cc companies see you as high risk.

[@SageModeisOn]

God bless you

[@keemafarrow2893]

Great Advice!!

[@2478951]

Great video thanks man

[@perfectk8129]

I'm young I did this on my own lol, got a little low limit card. At the time I realized that by using the card while I have some amount of debit, I can balance payments better & pretty much pay little to no interest, making my high rate NON-EXISTENT. 3 or 4 days after I use credit, I make a payment. I swear I've moved hundreds/a grand or two through this thing, paid a little interest but not even at $60 total yet ......ended up in the 450's starting off & I'm now 680's this is so easy "minimum payments" are the enemy!! Now to work on my utilization, good idea mine horrible with 1 card......

[@MuhammadKeita94]

Master K I got my first secured card when I was 19. No advice from nobody. Always paid and ever spent money I don't have. Now I went frm 613 to 710. I don't see how people mange to fuck up lol it's simple

[@perfectk8129]

Muhammad Keita I didn't even get a secured card, they gave me a regular no annual fee card $500 limit.....0 credit history. Capital One the truth! This little starter card helped me build my score to get this REAL card last week.....4 grand lol

[@cassiemarie859]

stuff happens lol, Its not hard to not fuck it up if you a. understand how it works, and b. stay on top of it... but a lot of people don't realize how badly even just missing a payment can damage the credit. Also, life happens, people get injured, loose jobs are unable to pay and then the card payments take a back seat.

[@gk020490]

So are you saying if you pay before statement is issued that utilisation is 0% or before the due date?

[@suavebola06]

Geoffrey Kwateng before statement date..

[@VapeJohn]

Yes. Always pay before it's due!

[@Migmore414]

There is a difference between 'Before Due Date' & 'Before Statement'

[@uneeqgem8704]

Sebastian great information. I want to thank you in advance

[@rinthedeer7085]

You are such a life saver seriously!! I just got my first credit card and I'm in my twenties. I have a zero credit history aside from 1-2 car loans and have been trying for years to get a credit card so I can actually establish some credit for a future house. My mom has extremely good credit but plays by the "old rules" and always leaves a balance on her card each month, pays it off only once a month, etc. But after watching your video it made so much more sense on how to "play the game". Since my limit at the moment is only $300, it's extremely hard to only spend less than 10% of the limit to remain in good standing for utilization. However when you explained that by paying it off BEFORE the statement closes (my date is the 4th of every month) and make my balance zero, it actually makes me look good. Honestly the logic at first is completely backwards for credit cards but once you learn the "rules" and can play the game to your advantage, I can see how I will be able to go from the 500's to the 700's really quickly. This makes me so excited and hopeful for the future!! Thank you!!!

[@michaeledwards3217]

So my capital one accounts reports on 15th each month. I'm gonna pay it all off then apply for a new card the day after so my score shoots up. Due to 0% utilization. Is that a good ideal?

[@AskSebby]

Yes.

[@sv2677]

Hey Sebby, how would you suggest increasing your credit score if you already have good credit? I have a 740 right now, but Im shooting for an 800+

[@AskSebby]

Basically wait. I'm guessing your average age of accounts isn't that high. I would argue that an 800+ doesn't really help with anything though. Most mortgage experts say that 750 vs. 800 result in the same rates (correct me if I'm wrong).

[@sv2677]

Ask Sebby ah darn, there goes my hopes and dreams

[@AskSebby]

There are some long-term things you can do (which will ironically hurt you in the short-term). Future video :)

[@vilenationgaming]

Shiv Verma the only way is to get a bunch of new cards. Experts say you need about 21 cards and keep usage super low. This of course lowers your limit at first

[@deonwilliams1780]

Shiv Verma get a trade line added to your credit duh

[@Matika1984]

Thanks great video

[@4nikkimay]

Very helpful thx💕

[@camerongomez978]

if u have 3 collections/charge off should I settle them if improving credit worthiness and credit score are my goal overall?... (all collection ACCTS are 15-18mon)

[@AskSebby]

I would guess yes but I have zero experience with collections.

[@CarlosRomero-ef4uv]

Never ever ever pay off a collection, it does not help you at all. Never talk to the collection companies and never acknowledge the debt. See if there is anyway you can dispute the collection and have it removed. If you can't then save yourself the money and take the loss. Even if you pay it off it wont help your credit score, and it will stay on there for 7 years. After 7 years it will be removed from your report and it wont affect you at all. I have done a lot of research on the subject and was able to successfully remove my collection due to the collection company selling it off and trying to restart the clock on the 7 years it stays on my account. So i argued that the information being provided was inaccurate and that it should be removed. I sent out letters to all the bureaus and they removed it, guess what the collection agency had a chance to dispute my dispute but they couldnt so they just sold it off to another unknowing collection agency. I have been getting calls from the new collection agency but it doesn't matter they cant report it to anyone. Hope the advice helps. Also if you believe identity theft was involved in any way then you can argue that as another form of a dispute and that is extremely hard for them to prove, if they even bother.

[@camerongomez978]

Thanks sir appreciate the info

[@mwilliams6242]

I 2nd what Carlos stated. I did not payoff an old credit card debit and got it removed from my report by sending a 609 letter to all three credit bureaus. The 609 letter templets are online and they work. I have been able to get 3 major credit cards after 3 months of sending the letters and getting items removed. The Discover IT being one of them.

[@missdesireindependance5194]

Cameron Gomez Settling will lower your score. Its best to pay in full and dispute it with credit bureaus.

[@Terrencify]

Well I did this I had no credit and in 1 month I went to 669 from 0 thanks sebby!

[@jabari189684]

Yo can I hit you up on how u went about it

[@Terrencify]

nooo, *never* use the full amount of credit open to you. I spend 60 maximum and pay it off in a week or in my case every 2 weeks because that when I get paid. Just pay it off before you statment comes which is usually after your due date. Buying a game is fine just never go towards 500. Try to get low utilization as much as possible. What I mean by this is use 10% of your credit line but no more than 30% if you want you credit to jump. I'm at 710 now lol. Please make sure you keep up with when you paid. TL:DR (in short) Use 10% of your credit line given but no more than 30%. Buy something then pay it off in a week or 2 and play the waiting game for you statement to come through and then repeat the process.

[@Terrencify]

Since yours is 500. 10% would be $50 max. But if you can't do 10% everytime then 30% is $150 for you.

[@Jimmy_MZ]

@@Terrencify hey so how's your credit doing now? I know this is kinda late lol

[@Terrencify]

@jimmy, My credit is 742 (experian) as of now. Somethings have changed I've gotten a new job and I spend more of my credit then pay it all off in one week. Though I can't get new credit cards cause companys don't trust me. Been going up since then lol

[@chaseroyell7227]

Great video.

[@ashleymoraruwithmathersrea9277]

Thanks for the video and I made sure to subscribe:)

[@akinplus1]

Dude, that monitor is DOPE! would love that for day trading. SPECS PLEASE!!

[@AskSebby]

amzn.to/2xE5V7w

[@Dahmer_Jeff]

Too wide. You want multiple monitors. Better to get two, 21" monitors for trading

[@caseyrobinette805]

Glad I watched this video. I just bought a 500 secured and was going to use 300 of it and pay it off every month , But I will pay it off every week like you said. Great informative video. Thanks.

[@TheLaw730]

casey robinette don’t spend 300$ only spend 30% of 500$ which is 150$. This will increase your score faster

[@caseyrobinette805]

That’s what I’m doing , thanks.

[@stevenjmcneil4511]

Thanks never knew about the utilization

[@prettyshooterb2161]

Great video. I learned a lot

[@rodriguezg100]

Let me see if i understand. 1. get a secured card(DISCOVER, MOST LIKELY) 2. ONLY use about 10-30% of whatever credit limit you have. So if you have the normal $200 dollars you should use between $20-40 dollars a month. 3. Try to have 2 secured cards and do the same steps with the second one. 4. Try to pay your balance(WHATEVER YOU SPENT) IN FULL a couple days after you swipe that card and NEVER WAIT for the bill to come. Question: Does it make ANY difference if i decide to make my credit limit $600 instead of $200? maybe they see that as a good thing. Putting more of my money "at risk"(not really, i am very responsible; especially with money) lol i don't like to lose.

[@AskSebby]

The limit will be what they issue you. I wouldn't worry too much about that for now; you could argue both sides. Value at risk and ability to deal with limits.

[@VapeJohn]

GLADYMAR Rodriguez My advise is to only start with ONE secured card then go for a higher credit limit one after a year. 6 months for them to post stable credit history.

[@nosesmoses993]

How do you remove derogatory from credit score

[@BenjifocusTV]

Noses Moses write a letter to each credit bureaus

[@SantoS-ei3zl]

You are the best Mr.Sebby Your videos and the great information have saved my credit world ..all stars 🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟🌟👍👍

[@candyman190]

When applying for a mortgage or something of that caliber, does it not affect your interest rate more in your favor if you had it at 800 rather than 750?