Lines of Credit and Credit Cards are calculated differently, let me show you!

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[@hannahviolette4553]

This financial management system has brought not only increased financial freedom, but mental freedom as well! Learning to make money work FOR me has been amazing!

[@wallstreetme]

Yes i like velocity banking since it essentially get you not to park your money in a savings acct and yet paying higher rates on other loans. 1) It forces you to take that extra cash and pay off higher rates loans 2) you still have access to cash via revolving credit card or Home equity line of credit in case of emergency 3) BUT you don’t save that much interest on your HELOC by parking your salary in there. 4) you could achieve same result by making extra payments to your loans but it is more cumbersome plus everyone (including the banks tell that you must have savings). No you need access to cash like the large multinational corporation with their revolving credits (which are paid down by year end).

[@mariaines4508]

I got a PLOC from my credit union wit a 10.99 % and I was told is revolving credit but it works like a credit card. Ill pay the interest on the remaining balance at the end of the month.

[@labart9263]

Citizens just offered me a HELOC for 10.65% and my credit score is currenntly at 734! Ridiculous I think I'd better hold out for a better rate.

[@Jesus-kt5dc]

Wow, that's ridiculous for a HELOC.

[@jasonmccurry3969]

North Carolina State Employees Credit Union gave me a 7.50% for a HELOC 2 weeks ago

[@VenuzMartinez]

I buy a house 400$ with 3.4% for5 years and now after 5 years need to reference the house and my interest is 7.4% for 1 year and I going back to pay 370$ for the house. I probably going to start doing the line of credit, think as for this video 👍

[@chris76-01]

Another thing that could help is something like hometap where they give you a lump sum home equity sharing arrangement with no payments for 8-10 years.

[@kenwheeler1327]

Borrowing against investment funds is another easy and low(er) interest source for a "type of" line of credit, plus there are no loan applications or fees. Example: borrow $10k against your investment fund @ 13%. If the fund is averaging 8% return, that nets you a 5% loan. (These are NOT exact calculations, but close enough for the example).

[@Fostermargret-jv1ci]

*GLORY!!!, $555k every 3weeks! I can now afford anything and also support God's work and the church.*

[@davidliam000]

As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided by a widely known crypto professional.

[@davidliam000]

The professional is Ms Angelia Marie.

[@sammirodger440]

I'm surprised that this same name is being mentioned here, I stumbled upon one of his clients testimonies on CNBC news last week.

[@marlonnorrece__1]

my advice to everyone is this saving is great but investment is the key to be successful imagine investing $15,000 and received $301,500

[@jeffspringer...2397]

[@bkennington67]

Christy, credit card companies CAN place a lien against your home!!

[@kadiusvain1102]

Do you have a social media page that I can follow

[@BethBarany]

Thanks for all you do! can you address using velocity banking with an irregular income? I’m self- employed and can’t predict my income month to month.

[@rettpanda6203]

Same here

[@carolkeith8646]

These teachings are eye opening! Thank-you!!

[@Jesus-kt5dc]

Works exactly the same income goes into LOC as soon as it's in your checking account. Doesn't matter if you get paid weekly, bi weekly, sporadically. Have a great day.

[@cynthiacampbell1283]

Is 18% real high interest rate for PLOC at local credit union?

[@jorgemorales2386]

Where can I get a line of credit in Georgia???

[@seanphillips6651]

What PLOC APR in today's climate would you consider too high? I have at or above 800 credit score, pay off my CC every month (so zero paid in interest), and a car loan ~13k remaining which I pay extra towards the principal each month. I understand it's also based on my area I live in. If say, ~17% is the best I can find is that too high to consider?

[@Jesus-kt5dc]

My opinion. In today's climate anything over 12.99 is too high. With that said, the higher your cash flow, the less interest matters. Simply because you pay down the LOC faster, by default paying less interest. Have a great day.

[@donmynack]

This is all great, but try to get a HELOC with a 1099 (self-employed) job and get back to me. I had to give them 3 years of bank records and tax returns, and with 750 credit the best they could do was 12%. I still took it because it's better than the credit cards they are killing me with at 24%.

[@BethBarany]

congrats!

[@RedDragonProtection]

My bank (Regions) will do a $25k HELOC with no questions and no credit pull... A larger one takes more work.

[@JoyToTheWorld70]

My hubby and I have been in our w-2 jobs 7 years and his Credit score is at 839, it took almost 45 days to get approved and we finally got approved for 12% Heloc. Interest rates just went up last week. 😢

[@quenessyomy6924]

Would it be ok to get a $8k loc or $15k personal loan with a 614 credit score.. ⁉️⁉️I’m thinkg to wait 30 days when my score goes up and apply for my small wedding. I only have 1 open account.. no negatives @All. I have a full time job and a part time job. I have no loans/mortgages/or hospital debts. My DTI ratio is 8%. No more than 10..So I really want to apply for my wedding.. Thank you in advance wink

[@deeprose8598]

What bank is the best for getting a line of credit.

[@jasonmichaelshipp2978]

Try your local Credit Union

[@mariaisabelescamilla2313]

credit union or U.S. bank

[@ritapratt9473]

I signed up for the money management class for tonight. I can't find where to sign in😢

[@cookingwithlukeandfriends6637]

did you know usaa dont offer LOC ?

[@Jesus-kt5dc]

But I believe they offer to link your credit card for overdraft protection. Which gives your CC the ability to function exactly like a LOC. Have a great day.

[@cookingwithlukeandfriends6637]

@@Jesus-kt5dc they didn't they wanted to do a loan . it's pretty sad. it has me reconsidering moving all the way over to navy federal

[@Jesus-kt5dc]

@cookingwithlukeandfriends6637 Yeah, don't be loyal to one bank or credit union. In fact you want relationships with as many as possible.

[@614snatched4]

👋🏾🙌🏾🙏🏽🫶🏾🫶🏾