Do THIS For An 800 Credit Score (5 Steps)

In this video, we’re talking about how to increase your credit score and the best tips on how to build credit to get you up to an 800 credit score! Now there’s a lot to know, so this credit score explained video is meant to serve as a guide to help you raise your credit score using credit cards, loans, or any other type of credit available to you.
So if you’re asking yourself how to improve your credit score, then this information should be useful because we’ll explain the 5 factors such as payment history and credit utilization that affect your score. By managing these factors, you can form the right habits with your credit cards and other credit that will lead you to an 800 credit score over time.
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Daniel Braun is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.
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[@donfisher6802]

Credit scores are bullshit, I had a 800 + score an paid a car loan off 2 years early, It dropped my score 100 points. I've had a mortgage 20 yrs but when I refinanced my credit score showed the time of my new refinance, not the 20 years I paid. The SYSTEM wants you INDEBT , not free of bills. If you owe no one, you are a responsible person but your score will fall.

[@LeeLee-ux8gh]

I AGREE!!👏🏾

[@chrislundy7017]

Agree 2 yrs ago I started with 523 score. Now it’s 758

[@Dividendology]

Great tips Daniel!!

[@Daniel_Braun]

Thanks, appreciate it @Dividendology !

[@ProCSRman]

I’m stuck between 760-780. Every simulator I try only gets me over 800 if I increase my credit limits by 30k.

[@edwardstrishock8541]

The last time I had a credit card, I paid the amount off, to get a letter the next month, stating that I was not a valued customer, and they canceled my account

[@estefaniarisso8555]

Hi Daniel! I’m pretty new to credit cards and your chanel has helped me a lot! What’s your opinion on AMEX giving you a free credit score and report that supposedly doesn’t “affect” your score. Do you think it will harm my score over time or is it a good tool to use?

[@austinmolina3617]

It doesn’t affect it at all

[@bitterswtmocha149]

good tool, use it. doesn’t hurt your score.

[@jerrylundegaard2592]

The scores the credit card companies report is a soft inquiry. Soft inquires do not impact a credit score.

[@Dr1vePr0]

What can you do about an "in house" account that reported a late payment but does not report on time payments monthly? Only negative got reported not the on time payments

[@peaceloveandunderstanding]

I thought I already knew all of this info, but I learned something today. You have a new subscriber because of that. I assumed credit utilization was an aggregate of all my cards and did not know that each account was factored individually, as well. I recently took advantage of temporary 0% interest offers from two of my cards which took one account beyond 50%, while the other is just beyond 30%. I can no longer work, and live on SSDI alone, so this helped to make some necessary purchases without paying interest. My overall utilization remains at about 10%. Was that a mistake? Should I try to pay those accounts down sooner than originally planned?

[@michaelmccusker7265]

Yes definitely. Your overall 10% is great. Start using those cards and put away the high utilization cards away while you pay them down to around 10%. Great work!!!

[@peaceloveandunderstanding]

@@michaelmccusker7265 Thanks for taking the time to reply, your wise counsel is very much appreciated. I think I'll take money from savings and immediately pay them down to 10%. All the best to you.

[@JK-td4hi]

I’m 31. Have an 820 score. I make six figures. Drive a 10 yr old car. Have a paid off phone. Can afford to live alone but choose to live with my parents (im south Asian so more a cultural thing). It’s hard living within your means with all the temptation around you - especially if you compare yourself to others on social media. But trust me when I say there is no better life than just being debt free & comfortable. I know ppl making 200k+ and are still in loads of debt and have horrible credit, they all live beyond their means.

[@Bigapplegirl81]

💪👏👏👏

[@13eerus]

31 still living with your parents is crazy

[@RonDaG0at]

@@13eerus I mean you have to see the bigger picture he’s 31 meaning his parents must be as twice older than him meaning he’s taking care of his parents as a good son👌

[@mattmurdockthemanwithoutfear]

Stfu you got 420 score and you make 2 figures

[@DOMNGUYEN-w8g]

@@13eerus so the parents do not need to make appointment with their children for dinner .

[@aishacansler8183]

You should pay BEFORE the billing cycle ends, the statement closing date. Keep your balances below 10 percent.

[@Luxurious.shayyy]

If the statement date is after the due date should be changed?

[@GenDominion]

How about pay it right away after i use my card 3days

[@dd3v0n1]

If i use 60 dollars on a credit card, do i just pay that 60 dollars before the cycle ends ?

[@dd3v0n1]

if the limit is 200 , would i have to pay the whole 200 or just the 60

[@altstrange3663]

@@dd3v0n1 the limit is how much you have available, so if you have 200 bucks as the limit you can only use 200. And you only pay what you spent. So if you spent 60 bucks you only have to pay 60 bucks.

[@jollama]

Credit history is why it’s so difficult for most to reach a score of 800+

[@Daniel_Braun]

Yeah I think a lot of people can get there but the credit history part just takes time. But that's why having a 760 credit score is just as good too in most cases so that those with shorter credit histories can still get the benefits

[@MarcIverson]

@@Daniel_Braun Perfect payment record but stuck at 755 because I basically shunned credit cards and had no credit record. I only had two credit cards, paid religiously before due every month. Finally decided to get one more .. and I hope that consistent payment on time will help boost me a little higher. Funny how being responsible can make you look like a credit risk!

[@charlesashworth9850]

@@Daniel_Braun The Problem is that credit history does drop off. I've had a mortgage in my past (25 years ago), but of course, paid off the mortgage and within 6 years they dropped off. So the history actually isnt accurate.

[@JakeKoenig]

@@charlesashworth9850 That's where the revolving accounts come in handy. I have eleven different types of revolving accounts that I keep at a $0 balance and only use one credit card, so I always have under a 1% utilization on around 160k of available credit. That's as good as any mortgage or car loan. I own my house and my vehicles so those don't help my credit anymore, but I have an 807-818 score (depending on the source) with only a 12-year credit history. Credit diversity and revolving utilization are the biggest factors (after the obvious factor of making payments on time). The credit history length isn't a big deal once you get past 5 years.

[@superjeffstanton]

​@@charlesashworth9850 that's why credit cards and 30 mortgage payments matter

[@thebudgetinghomemaker3962]

I've been paying off my credit card debt this past month and so the lower credit utilization has boosted my credit score over 100 points in 30 days and over 207 points in 30 days.

[@MarcIverson]

I think it must be because you were carrying a balance for a while, however substantial. I've been paying my cards off early every month and my score hasn't budged for at least a couple of years.

[@guitarmusicislife]

Wish I was there at 43

[@juju35888]

My score once reached 800 when I paid off a car… and then I dropped 30 points because that account closed 😅 now I’m working back towards that 800 with my credit cards

[@ThinkOrginal]

Imagine if the community was in charge of the score not the bank

[@gman2913]

Why did the account close?

[@TimesUp8888]

​@gman2913 All loan accounts close when you pay them off. It's a great thing! Except the credit score.takes a.hit, but I never care about my credit score if I'm paying off a debt! :)

[@mihaelafulga4290]

@@gman2913because the car LOAN was paid off. A loan is not revolving credit, meaning you don’t get to use those funds again by paying what you owe.

[@schm147]

​@@gman2913because that's what happens when you pay off a car. You no longer owe any money so there's no reason for the account to stay on there.

[@RUSHISHWAR1]

When i paid in full my fico score dropped 16 points

[@sickmansgas483]

If you make payments before the statement, you may not get your points or cash back. The only card I know of that gives you cash back even if you pay before the statement hits is the Apple Card.

[@shortstraw4]

I had an 805 and paid off 8k in debt and my score dropped to 799. What a joke

[@jerrylundegaard2592]

That drop is irrelevant and is short term likely caused by something other than you paying off that debt. Credit scores fluctuate on a daily basis.

[@arrikoswald3017]

Take care of your student loan! Mine exceeds 18yrs and offsets some of my relatively newer accounts. Trust me, it helps.

[@TM-li7bl]

Believe me, my husband and I both have highest credit scores and we are in our 60s…., We don’t need credit anymore!!! Not sure if I agree with you on this issue….,

[@TheMFStudios]

Ive raised mine like 20 points in the last year and thats too slow. I honestly needed this vid. Good job!

[@Daniel_Braun]

Thanks so much for watching and glad to hear the video was useful! Best of luck with continuing to raise your score, these steps definitely worked for me!

[@thedufloth]

Hey Daniel, love your videos!! Congrats. Could you please consider making a video about how Fico score differs with the Vantage score? Thanks

[@Daniel_Braun]

Hey Maya, thanks so much for watching my video - glad to hear you're enjoying them! Yeah I can definitely talk about something that like in a future video! The core pieces that make them up are generally the same but weighed differently or looked at in different ways - but this video should be a good guide to an credit scoring model

[@thedufloth]

@@Daniel_Braun I’ll really appreciate it. 😊 Thanks again Daniel!

[@ItsMeCJ]

There’s no shortcut for step #3 as you said. It’s important to get started early. I didn’t get my first credit card until I was 23 due to listening to terrible advice “credit cards are bad!” Great video as always Daniel.

[@David-rz4vc]

Credit cards are bad until u use them responsibly.

[@docsays]

@@David-rz4vc - or they’re good until you use them irresponsibly.

[@MikeyRamirezTV]

Same with me brotha. I’m 29 and barely got my first credit card last year. I’m on my 2nd one as of 2 months ago with the CFF.. hoping to build that trifecta!

[@Daniel_Braun]

Absolutely, I never saw the point to a credit card before because I figured why not just use my debit card if the cash was already in my bank account to pay for something? Glad we all got started eventually though, better late than never! Thanks for watching CJ 👍

[@ItsMeCJ]

@@David-rz4vc very true!

[@streetwork5069]

I’m totally new with credit,seven months actually and achieved a 695..I’m about to apply for another card..thanks for the tips!

[@sharontabor7718]

Wait a year before applying for another card.

[@aldenz776]

@@sharontabor7718 you don't need to and it's beneficial in the long run to combine your oldest cards together

[@ykGibzei]

Just got approved for my first intermediate card which is the chase sapphire preferred card with a 5k credit limit. I also have the chase freeedom unlimited which is like my everyday use. I started off with the chase freedom student card and got my credit score to about 750 in 2 years.

[@derrickgentle7174]

After having credit cards for 15 years, started off with 780, dropped to 648 in 2020 and back up to 767, still not bad.

[@Tristin471]

Not bad, at all!

[@doriantrm]

How did you start with 780?? I started recently with 680

[@totopo5226]

@@doriantrmI started with 620 lmao

[@TheHandHistoryVault]

You literally spent over 7 mins talking about "On-Time payments".

[@topofthegreen]

So it would take several years to fix credit.

[@unique2malik]

Yes. Took 3 years to go from 510-805. If you are trying to build credit open Kikoff & self accounts immediately to start building history.

[@sentinurse]

Just broke the 740 wall. My target now is to get past 760. 😊

[@aaronjones5049]

How did you break the wall?

[@Daniel_Braun]

Nice, congrats John! 👍 Thanks for watching the video too!

[@bagery]

Maybe 800 is not so bad to strive for. I watched a software developer speak of her move just the other day and how she was denied an apartment with a high 700 score. No doubt, these must have been highly sought after apartments. But it seems it depends on one's lifestyle if those extra points matter or not. Personally, I don't see myself ever wanting to live in a home that needs an excellent score whether I have the score or not. On the other hand, I also don't want to be denied a place I really want either.

[@Daniel_Braun]

Interesting that she was denied with a high 700 score - maybe there was still an older missed payment on it that the landlord didn't like? But as long as you aim for a score of 760 or above then that usually sets you up for success! 800 is a good long term goal to strive for as credit history grows as well. Thanks for watching and commenting @bagery 👍

[@Moi_81]

That lady might have had bad rental history.

[@lovly2cu725]

IF YOU GET A LOAN FOR A HOUSE OR CAR YOU DO WANT A HIGH CREDIT SCORE. OTHERWISE YOUR INTEREST RATE & MONTHLY PAYMENT WILL BE HIGHER.

[@timelessmusicfamilymusic9175]

Since I was young, I have always treated a zero balance as $1,000, the lowest balance. This means my checking account will never go down below that amount. If it does, I won't be penalized by my bank with bounce checks &/or unwanted bank fees.

[@NolanGouveia]

Consistently invest in good ETFs with low fees. BOOM 🎉

[@rebeccastone8732]

until your credit card company cancels one of your cards because they coerced you into getting a new card so you stopped using the old one. They tell you it won't affect your score at all, but it did, it dropped it about 70 points immediately. so beware of having many credit cards cause if you don't use them all and keep track of them when they get canceled it affects your score.

[@graysonhill1366]

Should I try to reopen an authorized user card if it’s the oldest account I have? I misunderstood how an authorized card works and thought I didn’t have to buy things with it in order to keep the sub account open.

[@OC2OMAHA]

I have never missed a payment but my score recently dropped about 25pts after getting approved for an Amazon Visa and Store card. That really caught me by surprise because I am great in all other areas like credit utilization, full on time monthly payments, etc. I hope it jumps back up soon because I am looking to purchase a house in Spring of next year. I won't be applying for any new cards. Oh, and I accidentally closed one of my oldest credit cards, which I'm sure didn't help.

[@dylanattix2765]

You'll easily get that back within a year and then some, as long as you follow the steps given in this video. Hard inquiries stay on your report for two years but their impact almost never survives the first year.

[@OC2OMAHA]

@@dylanattix2765 good to know. 👍🏾

[@DemonicEmbrace]

Same here I applied for a Apple Card and my score dropped about the same. My advice if your looking to finance a car or home don’t apply for anything or do any harm to your credit score 1-2 years before buying anything

[@altstrange3663]

Whenever you apply for something that pulls your credit you will see a drop. My first Credit card dropped my score about 30 something points but it’s built back up within a year. And yeah if you wanna get a car or something try to avoid doing that at the same time as applying for a card or really applying for anything that pulls your credit.

[@teesmith7972]

If you're carrying any balances on your credit cards, make extra payments. When the lower utilization reports that will raise your score. Your score will bounce back ( in a few months)from adding the new card.

[@nathanielpark2471]

shout out to all my ladies with bad credit and over achievers trying to hit that high score

[@johnpaulbacon8320]

Nice video on the topic of Credit Cards and related scores. With myself almost qualifying to be a "Senior" Citizen - being out of school since graduation in 1990 , I would hope there are Classes in school now covering the this topic to help the younger generations more so then my generation or older.

[@sandraschaefer7456]

Nice❤I would say I don't know how I find you on KZbin, but I know better. My husband and I have been in prayer so that we get our credit scores up and

[@sandraschaefer7456]

our credit record in great shape so that we can purchase our forever home. It was no one but God that led me to Gl o bal te ch cre di ts olu t i o n ❤ or g .l thank God for this wisdom. Bless you.

[@dragonfarts4329]

I have had 1 credit card AMX Business Card for 30 plus years never had a loan or other r cards except a sears card which they canceled because I never used it?/ I have perfect credit with AMX card but ab out a year ago I ask for my credit score and it was ZERO because as I found out they never reported my Bussiness card to the Fico 3 Crime families, so I got a 300 dollar backed card from bank, then after the year I ask AMX for a Personal card, got that and then an Apple card 1000. limit I get 30 pre quilfied ones each week, I feel I have enough cards to deal with, I pay them off most of the time before they add interest!! How can I get the Fico gangs to add my AMX credit history to my FICO score, so I get the credit for being so good?? My short term of Credit seems to be holding me back at 730 to 740 ??? Thanks mark I'm signed up with Experian at the no cost level!! Good or Bad in your opinion, my biggest grip with them is my bank account and my AMX business card are always disconting

[@flyryde]

I have an old account I haven’t used in like 9-10 years with a jeweler. I still see it as available credit I never use. Credit limit is like 1500 I think. If I buy some jewelry for my lady for Christmas, you think that’ll benefit my credit score by showing activity on that old account?

[@Psi-Storm]

No, it's just one more positive payment. If you spend too much it would increase your average usage, which tanks your score. But maybe they will cancel your credit if you don't use it at all, which would be bad for your average credit length. Maybe pay a watch battery replacement or some not so expensive ear rings with it? :)

[@Daniel_Braun]

Yeah I agree with @Psi Storm - if you use that credit and pay it off on time then that's just another positive payment. It will show that you're using the credit, but I would be careful if the limit is only $1,500 because if you buy something that's too expensive relative to that limit and that utilization is too high and gets reported on your statement closing date then it could drop your score by a bit. So if you use that card then maybe just pay off all or almost all by the statement closing date so that utilization will be low kind of like I talked about in this video. So yeah you can use it but I don't think it's boost your score much. Hope that helps!

[@b3rncul]

Their is two things going on. Not using your card is the best way to raise your credit. You owe nothing so you paid nothing = on time payment. You just run the risk of them closing it. Which is bad. You would use your card only to take advantage of the benefits.

[@Psi-Storm]

@@b3rncul That is wrong. You get no positive payment reports for cards that you didn't use. If you don't use a new card, you shouldn't have gotten it, because it reduces your average credit history length.

[@bobithpopit3193]

@@Psi-Storm I got a card that I won’t be using very often so I kinda regret it. It’s my second card, and it’s roughly 4 months old. Do you think it’s okay to close it?

[@keyrtan]

Thank you for this help. My bank and mortgage company absolutely killed my credit through an error on their part that they wouldn't fix and I'm still recovering. A couple more years of on-time payments and I'll be back in the 700+ club. (When my bank account ran low the bank recalled my mortgage payment, something they should NOT be able to do, so my on-time mortgage payment suddenly became late. And this happened for a year!)

[@pulselx6655]

Is there any point to canceling old cards you don’t use or should you just keep them since it keeps your credit age longer

[@k2000kidd1]

Be careful doing this, if you have a decent limit likr 1k to 5k just put netflix or gas station purchases on it and pay it off. They like to factor available credit into the score so obviously the more the better

[@datnohi8612]

I'm in the 800's I always make sure I have money in the bank to cover what I use on credit cards therefore I always have an income source such as a job...they are a great way to pay down debt and save money at the same time due to the low monthly payment and 0 interest balance transfer offers and reward points or cash back

[@C9ve]

What credit card do u have, if u don’t mind me asking!

[@datnohi8612]

@C9ve I have several, I paid the remaining balance of my home off with the chase freedom card, they did a balance transfer to my bank 10k and I used it towards my mortgage, I'm currently requesting a balance transfer from my Fidelity card to pay down my car currently, this is 0 interest balance transfer but I do get charged a fee

[@aramisgarcia8712]

Is paying off your credit card early good or does not help with my score ?

[@mercedeswilkins9085]

It’s good cuz I do it. I rather be early than late

[@whitehorsethunder3494]

Thank you 🙏 ❤ for sharing about credit cards 💳 payment 😊

[@maysmac]

Wow i didn't expect that to happen at 1:05 haha. Lets take a moment and apperciate all the hard work he puts into the content for us! Thanks for the videos.

[@amandasunshine2]

Wtf are you talking about

[@jaevonhaywood]

Just the other day, my Equifax account dropped by 10 points, and I found out my scorecard loses points after individual card 8.9-10% utilization (985/10000)

[@JuanRodriguez-se9hn]

Daniel funny enough my new American Express card is due October 21st like the example you used in the video, and that’s my birthday too

[@Daniel_Braun]

Happy early birthday Juan haha! Funny I just picked that random date - thanks for watching! 👍

[@tyhou229]

Been enjoying the videos lately. Although I want you to grow your business, a huge part of me coming back is not having to hear “this video is sponsored by…”

[@Daniel_Braun]

Love to hear that you've been enjoying my videos, thanks so much for watching! Yeah I'll be honest I'm very conscious of trying to avoid that "this video is sponsored by" feeling. I've done a few and will do more in the future because it helps to grow the business like you said - but I appreciate when other channels just offer value more and more so that's what I try to do. I'm breaking down my income in a next video and I'm gonna talk about how other income streams are doing well and I don't spend much money, so I'm able to say no to sponsorships. That being said I have certain companies in mind that I will 100% work with if they reach out to me like Wealthfront, SoFi, etc because I like and use their products myself so I'd talk about them even if they weren't paying me haha. But thanks for watching and supporting my channel because that makes all of my content possible! 👍

[@lightning1396]

If you pay your credit card balance of every month, why not just use a debit card.

[@deatondavid]

Credit score is based on being in debit

[@TheHandHistoryVault]

Yeah doesn't make sense. You're using it like a debit for sure. The only benefit is possibly earning points.

[@deveng7766]

Excellent video I have almost 8 hundred score but still learned some things today I wasn’t sure of thanks

[@APennyPinchersGuide]

Above everything else, maintaining on time payments is the key to raising your credit

[@Jordan-sq1oo]

Do you know much about different scoring models? Like experian will give you like 8 scores and every lender or app has a score they give you and all of them are different and some update daily or weekly or monthly. There's fico and vantage and then auto and mortgage and so forth. A deep dive video like that could be good. Count it as a business expense and buy all the premium credit monitoring apps and accessories and compare and contrast and tell us whats up.

[@Daniel_Braun]

Haha that's a good idea to buy anything that tells me my score to compare! So from my understanding, each scoring model weighs things a bit differently but the general trends are the same as what I talked about in this video. If you want to actually see you're real true credit score for free then you can pull your actual credit report once per year for free from annualcreditreport.com

[@Mr.Mini_Moto]

Is it possible to have a high credit score without jumping into debt? lol just curious about that part

[@jessicaclarke5132]

Yes it’s possible! I’m 23 and I started my Credit journey Oct 2020 and I’m a immigrant hence why I started that time and 3 years later my credit score is 810 .

[@Mr.Mini_Moto]

@@jessicaclarke5132 oooh dang nice lol The US Credit score feels broken to me for some reason because most people get too deep into debt to get there

[@TOhara-eb2lp]

I have one missed payment with a Home Depot card, that they screwed up and I didn’t miss, but fought tooth and nail, tried to convince them, and still lost and is on the credit report and screwing up my credit score. Platinum Amex, Capital One Venture X, and Chase Reserve, and others trust me enough to give me a card, I’m still in the high 700’s but don’t know how to fix it. I know don’t need the 800’s, but it still pisses me off. What would you do?

[@kamaka07]

Even tho it'll cost you a few dollars over time consider a card like grow credit and add a monthly subscription to it. Once the balance is paid monthly the payment get reported to all three bureus. Good way for younger people to establish age of credit band raise scores.

[@kevinmartindempsey209]

Let’s assume I have 1000 Dollar limit Let’s assume on 25th September I spend 800 Dollars (80%) Let’s assume my Closing Date is 5th October and Due Date is 30th October Would you say pay 700 Dollars on 1st October 5 Days before closing date aka reporting date so when the 5th of October arrives it will show 10% rather than a much higher 80% Then should pay of the full balance of 100 Dollars on 10th October which is 5 days after my report date aka closing date but 20 days before my due date

[@dannymartinez3600]

I’m between 733-770 depending on agency. But here’e my challange. My credit history is short 1.5 years. I want to add a card but I’m concerned about how much of a ding that will be. Because I’m not only adding a hard pull but also shortening my avg account length. But I guess I should ask to the credit agencies care another difference between a 18 month and 9 months? What’s the maximum credit score hit I’ll take applying??

[@tee_andii]

I wish I had learned this information the first time the way that you explained it in this video. Excellent explanation!! 👍

[@AlzWorld57]

I kinda feel this credit score stuff is BS...I had a business loan and only had like $10,000 left to pay so I paid it off and my credit score dropped 35 points overnight...It has now been a year later and my score is still not up to what it was...Also my credit history does not reflect my total history ...it seems like it only goes back like 10 to 15 years which I guess is okay but doesn't give me credit for the previous payments past that...My credit utilization is always very low as I basically pay cash and always pay my card off each month...only use it for the points or cash back...Haven't had a car payment in over 30 years...

[@ksmith2852]

Who the heck are the credit reporting bureaus? Paying your balance in full by the due date clearly shows a person handles credit responsibility. The credit utilization game to increase the score is BS. A manufactured false meaningless number. There must be a hidden benefit for Experian etc all for doing this. Maybe to market their "credit score improvement services"?

[@KevinWu787]

Leaving autopay on definitely helps you avoid those late fees.

[@Efexpe]

Never checked my credit but i always payed my stuff off. Apperently got a 750. My homeless ass might have a house in the future

[@Bubbles99718]

So, his 1st thing. He said it but didn't emphasize it, it seems to me. Which is always annoying where they don't go into the important details of this stuff. So if we have multiple cards, then use them all each month? To get as many on time payments as possible? That all adds up and is couted towards our scores? Never heard that before and he didn't prioritize it, didn't say, "Do that", for these reasons. Without the "Do that" and saying that those sheer numbers help, he leaves it a bit ambiguous.

[@drewbg3333]

You don’t need credit dude. I bet a young buck like yourself has never hear of manual underwriting. Do your homework before pushing credit cards. If you are a true credit card nerd, you would know that. You didn’t even talk about a credit card with no limit.

[@willpompe6612]

What is not helping me is my huge car payment of $561.99 it’s never on time I pay them something when I get paid until I can pay the next paycheck they don’t understand and not willing to work with me

[@michaelmccusker7265]

Great video but a few suggestions. First is use a monitoring system like Credit Karma which is free and you can check as often as you want. From this you can find out when your accounts send info to the credit companies. For each account you can find out when the info is reported so you get your account balance as low as possible that day. Second finding someone with great credit that will add you as an authorized user. This is the quickest way to add time to your credit card history as well as lower your utilization.

[@lovly2cu725]

BUT KEEP IN MIND THE SCORES IN CREDIT KARMA ARE NOT THE SAME AS FICO SCORES

[@mistermyself1128]

People gwt credit to use it. Ustilize is as you wish. Just make sure to pay it down when you ask for more credit. It doesnt matter when you arent asking for new credit.

[@EBraz]

I don’t know much about how credit score works, but I do have a score of 773, lol. Just make sure to pay your credit cards off. That’s what I did.

[@taokichavez9319]

Have anyone here actually get a 800+ score with these "recommendations"?

[@kevoo123]

Hey Daniel! Recently I got a student loan reported on my credit report and it dropped my credit score down by 60pts, a few months have passed and I have only recovered 4 points. I always keep my utilization below 10% so I do not know why it dropped so much. How long do you think it’ll take for it to go back to what it used to be? Thank you!

[@JLZ-]

i have $300 credit limit but i want to use all of it since i travel for work & be paying it off that same week when i get my paycheck can that affect me?? or is it a good way? im just starting out i have no credit

[@earnonmyterms66]

Here’s how I never forget to make a payment on time. I pay ALL of my monthly bills (cars, credit cards, rent, utilities) on the last Friday of every month. Then every week (I’m paid weekly) I accrue 1/4 of each payment that I will make next month. I also divide my car insurance 6 month premium by 26 and put that money away as well. I keep a second checking account that I call a bill pay / escrow account and my checkbook register keeps track of what I transfer over there by category. Each Friday, I review each credit card app and put whatever I spent into the escrow account (no, I do not carry balances, each card paid off each month)

[@eljonno69]

Iv got 875 credit score still can’t get credit lol

[@chafrajayfra32]

I have older cards but they close them because I haven’t used them which has affected my credit history. I e had credit for thirty years but due to that my history says ten years.

[@janicewalker2615]

Wrong topic the Bible sayonara no man nothing but to love them that’s. Old news new news Jesus is coming soon repent of your sins He love u

[@puravida5683]

I am an expat living abroad in various countries, that could care less about credit scores! However, my U.S. credit score is 844. Because I use my U.S. credit cards abroad, with no foreign transaction fees.

[@lovly2cu725]

HOW DOES USING THEM ABROAD IMPACT YOUR FICO WHEN IT IS UR UTILIZATION?

[@leonelamejia1971]

I'm 38 my credit is 610 how can I raise it . Help

[@fgc_ngoni615d9]

This is very useful information, especially coming from a country where using credit cards is not common. It actually taught me discipline lol. I do not want to go on a spending spree and forget about the consequences. thanks a lot.

[@iwantmoretofu]

that grey shirt is sick. where did you get that

[@bigd756]

Dude needs to cut up some cards.

[@chucalissa9231]

Dang 691 with T.U./ can't wait to be 700 club

[@apaproductions07]

You will get there!! I just did this month 😊

[@JGolfs]

Stuck at 760 I think it’s my credit history being so short. Only 4yrs

[@nicktucker3437]

As someone with a score in the 830s I can verify these factors are accurate, of course I benefit from having real long credit history at this point. on time payment history is certainly important.

[@Rafael-d5e1n]

Do you recommend to get a credit limit increase and apply for a new credit card around the same time?

[@LuisHernandez-nb4qo]

I’m just got me my first two credit cards to months ago and I’ve been using them correctly I got 690 credit score

[@C9ve]

What’s it at now?

[@SecurityGuy702]

Just made 754 credit score in 3 months

[@jimohare3133]

Love the channel. Did you add music? I liked it better without, it's distracting.

[@Daniel_Braun]

Thanks Jim! And yeah I've always had music but it's been usually pretty quiet in the background. I've been playing around with turning the music up for parts of the videos but maybe I'll stop using it as much so thanks for the feedback!

[@arkadihughes4893]

I've spent my whole life up until now avoiding debt and credit at all costs. I'm 26 now and really hitting myself for being scared of debt and not just doing some research on how to use it.

[@Herobrine-bk3my]

Spot on! I destroyed my credit when I was 26 back in 2010. I went from a 757 credit score to a 580. Took a lot of research, hard work, and time, but I now have a 828 FICO score. *Top phase resolution* is exactly what you need to do to hit a 800 credit score.

[@Herobrine-bk3my]

You can reach them out via google they’re best out there *Top phase resolution* They helped me rebuilt my credit a lot

[@Herobrine-bk3my]

Those team are top Notch check them out

[@arkadihughes4893]

@@Herobrine-bk3my thank you!

[@slitbrow]

So if I have a statement, I should pay off a majority of it before my due date to lower my CU? I'm sorry i'm new to this stuff and trying to find down and note down the best and simplest ways to do anything credit card related in case I or someone else needs it in the future

[@Daniel_Braun]

So you will want to pay down balances by the "statement closing date" to have a low credit utilization reported on that date. After the statement closing date, around 3 weeks late is the payment due date where you then have to pay off the low statement balance in full so that you don't carry it to the next period and get charged interest. It can get a bit confusing to explain here, so I made this video going over it in more detail: kzbin.info/www/bejne/noDCooWNp9Rngbs

[@Adammarkweber]

Be careful! In Canada hard inquiries stay on your account for 6 years

[@kolynkremer2137]

Does it improve your credit score to have a zero balance on the statement closing date? Or is it better to have a low balance, or does it not matter as long as you pay in full, on time on the payment date?

[@cccspazz]

it’s better to have a low balance on the statement closing date so that to the credit bureau it looks like you’ve only spent a few percent of your available credit limit which will boost your credit. Then once that statement date passes you can pay the remaining amount. If you a balance of $0 it’ll look like you don’t use your credit and eventually can backfire.

[@carolray9156]

I'm planning on buying a new car in 8-10 months. Than I will have $10000 saved...and am trying to raise my credit score from 608 to whatever...I just found out about keeping my utilization below 10 % and I m trying to raise my credit limits as well...wish me luck!! 🤔 Should I be doing anything else???🤔

[@Herobrine-bk3my]

Those team are top Notch check them out

[@TheRaiderd27]

I have had to close some accounts in the past I have close to an 800 credit score but some wouldn't know that if you chase all the rewards and you have too much access to a lot of credit you can still get denied for that very reason. For example if your credit card limits Total 80K and you make 40K per year chances are you could get denied for a new credit card even if your score is 800+ and have no inquiries in the past 2 years. BET YOU DIDN'T KNOW THAT?

[@teddydavid2816]

We knew it

[@TheRaiderd27]

@@teddydavid2816 awesome, few people do

[@FreedomNurse]

Crazy thing is while gaining point you get a little bit when losing score you drop fast.

[@makingmodernmen8843]

Yes and no. I have seen my scores go up 50+ points in a week after making a large payment and bringing utilization below 20%

[@lizzylizh]

Such a really informative video! Thank you!!

[@EW-cq6yv]

Another excellent video. One point I would make is that if you’re in the high 700s it’s basically the same as being in the 800s. Lenders tend to look at you the same. Every point you made is valid to achieve a high credit score. Thanks as always!

[@Psi-Storm]

There is no safe way to get the last 50 points as a young person, the points from average age are not achievable on your own. There are tricks with becoming authorized user of your parents cards and inheriting the age, but if they aren't good at managing credit, they can also tank your score.

[@Daniel_Braun]

Thanks so much! Yeah agreed, I look at it the same way that high 700s and 800 is the same in terms of the benefits. That's where I've been for the past couple of years so getting above 800 will be mostly a matter of time as my age of credit grows! Thanks again 👍

[@MrCbell57]

What good is having credit if the interest rate is so high you can’t ever use the cards? I take advantage of zero interest offers yet once these expire it’s back to not being able to charge much due to having to pay all the debt back in 30 days to ensure interest doesn’t cost you an arm and a leg. What good is credit if you can’t afford to pay it back instantly? It takes having money to be able to utilize credit in order to just borrow $5000 until next month. If you do t have the money to even pay back $200 what good is being able to borrow $200?

[@deatondavid]

I finally got my credit score to 680 and it stayed there for a while. Paid off cards off and applied for a card from discover and they gave me $9,000. I was stunned. All that drove my score to 750😊

[@OG_predatorproductionz]

(First time credit card user here) So it's better to pay the statement balance off on the statement date to be credited with an on time payment? (granted you have that under 30% credit utilization range) as opposed to paying it off in full before the statement date because the credit bureaus would see the card at 0% utilization aka "not being used"? Or am I wrong?

[@azareligarcia541]

Hello!!!! I've been watching your videos and they have been extremely helpful... I moved to the US about 1.5 years ago so I had no credit history at all and it was very hard for me to get approved for a credit card, so I end up opening my first credit card in the US at 26, do you have any advice for people like me that had to start later on how to improve your credit score when you didn't have any history? Thank you!

[@kristymoore7052]

That all sounds fantastic if your life is perfect.

[@UnfoundTravel]

Here is me thinking my 830 credit score is low

[@Daniel_Braun]

Haha 830 is FANTASTIC! Congrats on that Ross!

[@UnfoundTravel]

@@Daniel_Braun thanks Dan

[@ProCSRman]

Only fast way to raise credit scores are credit line increases.