How To PAY OFF MAXED Out Credit Cards With NO SAVINGS!

Рет қаралды 5,402

2 ай бұрын

In this video I will go over how to pay off maxed out credit cards even if you have no savings or cashflow. Enjoy!
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Пікірлер: 45

@vilasaojose6703 2 ай бұрын

Money is not meant to control people rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place...

@codecreateurroku6764 2 ай бұрын

People don't understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments don't match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

@jameslongwell5025 2 ай бұрын

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

@scrumpy615 2 ай бұрын

Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

@josemanuelmacias7968 2 ай бұрын

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

@mikeyreacts5839 2 ай бұрын

Jeff demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

@SeeSaw99 2 ай бұрын

Very great video and break-down of velocity banking. It definitely worked for me. The only hiccup was when I made a large payment to Barclay's, they immediately lowered my credit limit to the new balance. That resulted in 100% utilization again,😢 so you have to be mindful of that.

@Valente_Quintero Ай бұрын

Solid video. I did something similar to this to get out of debt years back, not knowing about velocity banking. The amounts you save on interest compounds and your money actually starts eating at the principal much faster. The concept is what people should pay attention to, and not the little situational details that are specific to each individual, and their situation, because the concept will fit around those parameters and will still work. Thanks for sharing

@stevemccollum2011 2 ай бұрын

I believe that this works but if you have automatic payments you should stop them while doing this. If not, then after you pay 2500 (in this example) the credit card may or will make the scheduled payment, as you put all of your money into the payment you will not have any money in your bank account to pay it, then you would have both a overcharge on your bank account and possibly a late payment on your credit card. Yeah I know it does not affect your credit report until it is late for 30 days or more. Doing this while either working overtime OR a side gig could have you paying off your credit card in a very short period of time

@TommyEgan.7 Ай бұрын

I've tried this but the interest on purchases keeps adding up. My $28K CC is at a $17K balance and it's hard to decrease the balance because even though I do the trick you talked about... I keep getting added about $200 plus every month on interests alone. I think that a debt consolidation loan would help tremendously but my score has dropped to 675 Fico so not high enough to get that loan.

@HeavyDutyCharlie 2 ай бұрын

A little accomplishment is having a low 600 score and I’m currently at 667. I’ve been paying debt off and can’t wait to be able to be in the 700/800 club. One step at a time. Any pointers or tips other than keeping credit card utilization

@katel3962 Ай бұрын

Explain how to pay off Maxed Out Credit Cards with monthly Social Security Income of $1200 and monthly expenses that exceed $1200!! Rent, utilities, food, car insurance, gas, cell phone ($35 monthly) exceeds my income > $1200

@kimberlyholt1560 Ай бұрын

How do you do it if you have several cards at max?

@coedshowers Ай бұрын

if you ask them to lower apr do you just call them and ask? do they re-run your credit with a hard pull?

@NaamWynn Ай бұрын

Nope, just ask

@lilbits693 2 ай бұрын

Balance:$17,400 APR: 18% help! I already applied for a PL($15000)but I’m unsure if my job is secure.. should I pay off my car loan($13,500 APR:4.79%) or my CC? Wish I would have seen this before I applied for the personal loan

@thecuzzoshan8814 Ай бұрын

Definitely you CC cause your credit card has a way higher APR than your Car loan

@AnonZero0 2 ай бұрын

*You're also assuming the trade bank doesn't cut the spending limit, because of the interest bearing debt 'they' have incurred, and are not paying off properly.*

@Celticsfan10134 2 ай бұрын

This does not happen. They are making money off of you.

@AnonZero0 2 ай бұрын

@@Celticsfan10134 *It does happen many times--its a very common occurence.*

@Bruhman5thflr Ай бұрын

What if you have multiple credit cards?

@NaamWynn Ай бұрын

Same process

@FSSRKeyno 2 ай бұрын

Why pay off our debts?

@AnonZero0 2 ай бұрын

*When it comes to 'your' financial responsibility--its not 'our debts'--its yours.*

@FSSRKeyno 2 ай бұрын

The middle class is gone. Only the rich and poor. The American dream is gone. Nobody can afford a house, car, medical, food ect. 34 trillion in debt. It is all going down. Crash and burn. So what are the benefits of good credit after the reset?

@AnonZero0 2 ай бұрын

@@FSSRKeyno *99% of the debt the Federal Reserve, the federal government, and the state governments have deliberately incurred; will never be paid off, it for the most will be written off in a restructuring event, i.e., a massive default.*

@AnonZero0 2 ай бұрын

*But not once did you mention the cruel reality of taxation; most of the average who make 60K per annum, 'pay' at least 22% in federal taxes, plus extra for those living in the forty three states which have an income tax, e.g., those living in California would be 'paying' approximately 35% total; and then there are the extra taxes many local cities charge.* *Its a rarity that those with the most popular financial channels, mention this serious reality about income, which sometimes includes 'bonuses and kickbacks' from the trade banks; that these 'bonuses and kickbacks' sometimes come with a taxation penalty--and its in no way 'free' money--no one gets anything 'free' from banks, they pay for everything they receive.*

@AnonZero0 2 ай бұрын

*Onerous taxation amounts to people actually having much less than they make.*

@NaamWynn 2 ай бұрын

Thank for your feedback and I agree, but the main point of the exercise was to keep it simple enough to follow. Yes there can be numerous factors that are not taking into account, more or less income, expenses, or other things that are very specific to the person.