REMOVE The 4-Letter Word From Your Finances! Velocity Banking… Poor No More

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[@jeulihonodel7626]

A line of credit is a container. You can keep using it when you pay it down. This is how the debt paydown works. A Loan can't be reused over and over. Amortized interest is a rip off.

[@chrisper7527]

I agree. She should have taken the little time to educate herself on the difference between a HELOC and Second Home Mortgage. I hope they can get the HELOC and close the loan.

[@darkcloud4368]

I was in a very similar situation as this. Once I got my PLOC and started to use it my stress level went from 100 to 0 without even changing my lifestyle.

[@astikennel]

Agreed, stress will be gone! But you do have to reign your spending in while working yourself out of debt, casual and unending spending will tip that canoe

[@darkcloud4368]

That is true. The good thing with starting VB is that once I wrote everything down I was able to see where my cashflow that I would never get to see was going.@@astikennel

[@sarita5572]

Agreed. My husband said he's feels like we have so much more flexibility now.

[@chrisper7527]

@@astikennel, yes, you have the draw period before it converts into a closed loan. So you have time to bail yourself out of debt, and don’t make things worse as it could get.

[@astikennel]

@@chrisper7527 you take the wrong person this isn't my post

[@The_real_Toddington]

When i heard the words loan , she gave that blank stare! I knew. Big mistake. Dont do what the banks want you to do. Do what works best for you guys!

[@sylviacrawford7195]

Unfortunately this person is not answering your question. Sounds like they are scared. You hold the key to unlock their anxiety. But they need to be patient and listen to you. Forget Loans--they can get a line of credit - but they need to trust and follow instructions. Calm down and do the right thing this can and will work out- but they have to listen and follow Christy…

[@astikennel]

Part of that 'fear' is walking away from government indoctrination from their informative years, its a retraining of HOW we think of it. I went through it, so did Christy, but in her case, her mind was already looking for this

[@sarita5572]

I think they're at the learning stages and this is the opposite of what we've been taught. It took my husband a bit to jump on board. They'll get it. Once they see how it works there will be no stopping them. ❤

[@user-ot7ln4fy7y]

Yes, it requires an overhaul on your mindset!!

[@stoobpendous]

​@sarita5572 I had the same problem with my wife. She'd raise her voice and snap at me every time I brought the topic up. She was convinced I was taking control away from her. I asked her if it was worth $100k to have the comfort the illusion of control brings.

[@dumpybear8664]

When I applied for Heloc I was bombarded with phone calls from other banks asking if they could help! I wasn’t even talking to them. They are predators. Sounds like she got swindled.

[@sheila_rabant]

Same. I keep unsubscribing emails and blocking calls. My own bank keeps harassing me. On the plus side I've gotten some great new credit card offers. I want white board videos on the best way to do VB with only multiple cards and interest rates. I guess they use the software program to do that.

[@dumpybear8664]

@@DrFinancialLiteracy The hijack caller wanted to offer me a HELOC at 13% interest. The one I applied for and ultimately secured was for 8%. He was banking on me making a quick decision, before even getting a response from the bank I applied at. I felt that was predatory.

[@RedDragonProtection]

I checked my paperwork for my house loan interest rate of 4.85%, and the actual percentage written on my paperwork is actually 90.594%.

[@Honesttalks287]

What in the world?? if u mind me asking when did u take out this loan??

[@RedDragonProtection]

@Honesttalks287 ..October 2018

[@earmarkaudiologyllc8444]

Prayers for this couple!

[@bkennington67]

Your clients have to understand with a line of credit their dollars can be used multiple times whereas the loan payment is gone and the dollar can only be used one time!!

[@rsanchez7205]

Vann I send your you tube to so many now. You should make a video with big captions of STOP!! Never refinance or get another loan!! And explain the reason. Love your chanel

[@andreavandekleut6379]

agree , she must make a video and go back down to BASICS , like you said , just say STOP!! don,t do this , or what ever , ..

[@xrisdavid785]

When I applied for a PLOC at my credit union last fall, they did offer me the choice of a "signature loan" at the same time. NO LOANS people !!!!! Only LINES OF CREDIT !!!!! Even a 29% credit card will do the job....that's a LOC !!!!

[@tericarter2512]

Only if they will let you link to cc, right?

[@chrisper7527]

Yes, get the LINE OF CREDIT. No loans!!!!!

[@trinaengland5768]

Sometimes I feel like people just want you to put out the fires without understanding how they got that way. Thank you for sharing your knowledge. People need to binge watch your videos.

[@nelsonfan24]

I agree. I wish I had seen this before I made my mind up I was paying off all my credit cards. Paid off $18,000 in 13 months. I was pretty much on beans and rice and NO extras. Now, I am debt free and STRESS FREE.

[@nelsonfan24]

When I say debt free, I MEAN debt free. Paid off my last house payment February 2024 on my birthday and haven't had a car payment in 26 years. My life is very peaceful. Just wish I had started investing 40 years ago.

[@maedixon36]

Yes binged watching and vision board is a must...

[@howtoinvest4yourself241]

Been there done that… when I first found Christy, was Binge watch for weeks if not months now… I have seen about 7months.. I love this stuff…

[@MzMochaCutie16]

I just want to say thank you for your dedication of time to put this knowledge out! In Feb 2024, I started implementing your suggestions in regard to making multiple credit card pymts. My why is to build my score up enough to obtain an CLOC or LOC to further pay off an 11k auto loan. Initially, my score boosted 15 pts at the time of February's reporting and now as of 3/21/2024, it's increased by an additional 34 pts! 49 pts in two months!? Really!? 😂 I'm 44 and learning later in life about managing my finances and the information you share is more than valuable!! 🙏🏼💜

[@nelsonfan24]

I raised my credit score by making my minimum payment and then a week later making another payment. Even if that second payment was only $25.00. I did that every month and it kept going up.

[@MzMochaCutie16]

@@nelsonfan24 This is so awesome to hear! I’m definitely going to keep going. At this rate, I should qualify for an LOC next month!

[@donaldraya]

We have to protect you..... we have to lift u up with prayer

[@freefree1664]

Anyone new to this concept needs to watch all her videos first & take notes. And then contact her! Loads of info on this channel...

[@chrisper7527]

Yes. I did many times. I even contacted her on here for feedback, and she was very helpful. I got the HELOC, and the things I want to do are being accomplished. I put my income into my HELOC, and pay my expenses. Within a short period of time, the HELOC is paid off back to the original amount of $0, leaving me the opportunity to use for other projects. It’s banking’s best kept secret, folks. Get a HELOC if you have a house with equity, or get a PLOC. No loans!!!!!

[@aaronjennings8385]

A mortgage is like a train car that goes only one way, meaning it's a one-time loan that you receive and then repay over time. On the other hand, a HELOC (Home Equity Line of Credit) is like automobile with a reverse gear, allowing you to borrow and repay funds repeatedly, similar to how a car's reverse gear lets you move backward. If you get into a position you want to back out of you can.

[@mboston7010]

Kristy you are the best.

[@featherpayne]

I have a good feeling about this couple. I think they expressed exactly what I hear over and over from people I help. I also see that it is opening a new view of how to look at finances. I would have liked for you to show them how to use a current credit card they have as well.

[@tturner0077]

I specifically went into my bank and requested a PLOC - my credit score is good and DTIR was fine. The loan officer told me they only do HELOC and offered me a small loan, which I got. I later looked online and they DO offer PLOCS and the loan officer won't return my calls to explain why she ssaid NO they don't offer PLOCs!? Should I raise this issue with the bank's corporate dept??

[@astikennel]

Absolutely! Demand that loan be converted to a Line ASAP

[@tturner0077]

@@astikennel thank you!!

[@peoples00]

I would still ask the branch manager why they lied to you? You can always cancel the loan especially if you havent used it.

[@tammyhavlik1015]

I'd go to the branch manager and politely ask for it to be converted to a PLOC because of the misunderstanding from the loan officer and that they're apparently busy now.

[@Bamapride1985]

The website can very well be outdated. I lot of financial institutions are trying to get away from PLOC it seems. Even my credit union that use, has stopped doing them except as a small overdraft protection PLOC is the only thing that they offer now. Plenty of credit card options and can request the cash advance checks from the credit card accounts that can work very similar

[@mariakelly8726]

Very informative. Thank you, Christy!

[@chrisper7527]

Christy, please tell them that whenever they are working with a HELOC or PLOC, thirty percent utilization is still important. Do not use more than 30% at anytime, or your credit will take a hit. Nonetheless, these products are the banks’ best kept secret.

[@Jesus-kt5dc]

30% credit utilization only makes sense if you're wanting to apply for new financial products or you're managing your finances like the average person does. Paying expenses from a checking account. If you're a velocity banker that 30% is actually 67%, for the simple reason that we're utilizing LOC as our checking account. Have a great day.

[@tericarter2512]

I had a BOA loan officer tell me a Heloc, PLOC, and Home Equity Loan was same thing

[@Bamapride1985]

That's when you know they are either not qualified for their position or they are trying to manipulate you.... Either way, walk away without agreeing to anything

[@deval3596]

if they were approved for a home equity loan then they should be able to change the product to a home equity line of credit and it should be easier to qualify than the loan because the minimum payment for the line would be less than the loan because it's interest only.

[@tdfulton1]

THANK YOU AGAIN CHRISTY!!!!!! Had no idea on why the multiple pymts were needed!!!!! I want that course!!!!!! Blessings again my dear!!!

[@tynkrbel201]

🤣 Christy put the marker away after hearing LOAN

[@gabindalin7914]

Unless they've changed, Rocket does not do HELOCs. They want that refinance $$$

[@MyMusiclover28]

Last year I got a HELOC that is fully amortized. 5 yr draw/30 yr pay back. NOW i know it wasn’t the best deal, but I didn’t know anything about velocity banking back then. This HELOC I can use over & over again and pay off at anytime, and my payment is based on the balance. I’m making it work 😅

[@dcnj4894]

I’d love more info on linking a checking account with a credit card.

[@andreavandekleut6379]

i hope they haven,t signed on the dotted line YET and cancel the whole thing.

[@leeboudreaux6698]

You mentioned your course, when will it be ready? Wish I would have known this when I was younger. Thank God for you Christy.

[@VanntasticFinances]

@leeboudreaux6698 Hoping to release course by June. Thank you!

[@magus7935]

Cb and s bank is offering good HELOC credit right now

[@chrisper7527]

@@DrFinancialLiteracy, take it anyway. Don’t forget that HELOCs and PLOCs are not amortized. That’s the secret.😊😊

[@m2lookmtn358]

Christy, a question I haven't seen answered in your videos. I'm about to buy a car, I have excellent credit and 0 debt. How do I use a Ploc to buy a car without getting a loan? I know I could buy it, get the loan and then use VB to pay it off, but is that the best way? Can I initiate the purchase using a PLOC? It's probably obvious I don't have a ploc yet and have never used one. Thank You

[@kojorichardson4283]

If you can get the ploc, you can use it to pay off the car. But it must be a line and not a loan. Banks can be confusing in explaining if they offer lines of credit. I used a 0 interest credit card to pay off the remaining $5k on my car and the last $15k on my student loan. Watch her previous vids

[@mariannaryan456]

They might be better off at a credit union. Even if they have to do a personal line of credit in his name only. He has the good credit score.

[@mariannaryan456]

I wrote my comment before I saw the whole video. I am a true convert! I came to the same conclusions to solve their debt that you did!

[@ARDreamy]

I have been wondering why Rocket Mortgage is so aggressive if I’m the one coming out ahead, maybe I’m not!

[@yolandamfarrell01]

Use the automated velocity banking method

[@devellwilson7099]

If you find $5.00 on the street it goes into the line of credit Brilliant........

[@Jesus-kt5dc]

That becomes 5.00 dollars plus whatever interest your LOC is charging you. Have a great day.

[@kzulia13]

Christy can you do a video opening LOC for our kids? My daughter will need that next year to start paying her student loan.

[@jeffpayne2449]

What is a good company to get a line of credit??

[@cookingwithcatrinatheitali9316]

Can you recommend places for a HELOC

[@chrisper7527]

Your local bank or Credit Union.

[@JR-bx6kw]

Love your videos. For some reason the video quality and audio on this one was pretty bad. Not sure if your using a different camera or microphone, but the clients were very loud, and had issues hearing you. The video shifted in and out of focus the entire time. I hope its just a glitch this one time and your able to figure out the quality of the video and audio soon.

[@northeasternguy1010]

Need a recommendation for a PLOC bank. My bank and banks in tge area dont off this.

[@tynkrbel201]

SAME

[@tynkrbel201]

Just saw in one of her Shorts this question was asked, Christy mentioned US Bank. I just opened my account online, waiting for the cards then I can apply for a PLOC 🙌🏽

[@marcieharley3978]

Could you break down your illustration more? More detailed.

[@hedgefund996]

Awesome Educational Session 🫡

[@jeffcarver78]

Hello! Where are some good sources for PLOCs....in your experience?

[@mercyb1576]

Hello.. I tried to get a ploc and do not qualify my debt to income is too high. I was told do not have equity for a heloc. What now?

[@neverbeme]

15:00

[@elainerobertson7329]

Christy, what do you consider a good intetest rate for a HELOC?

[@Jesus-kt5dc]

In this economy, anything in the single digits. Have a great day.

[@Joce123]

So how much over my income should my line of credit be?

[@olgaconway9131]

What is the velocity method?

[@olgaconway9131]

Is the line credit based on mortgage?

[@KeeLvL-UP]

What if you have a consolation as well as credit cards adding up to about 35k can this method work?

[@olgaconway9131]

Is a line of credit same as a heloc ??

[@amandabuysllc8274]

Couldn't you just put all your bills on your credit card and then pay your credit card off with the LOC the day before payday? Isn't that the best way to keep the LOC as low as possible without drawing against it for your monthly expenses throughout each month? Prob not possible with mortgages and car payments since it's tough to apply workarounds for paying those with CCs. What are your thoughts? I didn't really understand your explanation of paying for things throughout the week and how that stops the interest on the LOC. Can you explain that a bit more? You're the best! Love your videos!

[@queenofcups1122]

❤

[@JohannesJunkJournalLife]

I called my bank today and to get a HELOC it would be 1500$/month. MY mortgage is at 667. I understand the concept, I think. But I don't have income like these people. 667. is barely managing for us. So my options are zero. my mortgage is 150k.

[@Jesus-kt5dc]

That's a loan.

[@danielleloveslou624]

Is it smart to pay off credit cards and cancel them? I have 8 and I just want to have maybe 3 good ones that I can benefit from.

[@SS-gd4vm]

Don’t cancel your credit cards. Pay them off as soon as possible BUT leave them open. Your overall credit score is calculated using your total available credit and the utilization of it. Just be sure not to allow the cards (once paid off) to be closed from inactivity. What I do is once a year I make a minor purchase on each card (a pack of gum, a coffee, maybe some gas.. you decide) then I pay it off in full once the bill post online. That way the accounts stay active and the credit utilization stays low. I have over 12 different credit cards. None of them have a balance on them and my FICO score is 850. Learn to play the game, I did.

[@Bamapride1985]

Like the previous comment said, you can pay it off and then leave the account open without any issues. The only time I would cancel one is if you have a predatory one that wants to charge an annual fee or monthly maintenance fee that these sub prime predatory ones like first premier or some credit one cards I have seen in the past. A closed credit account in good standing stays on your credit report for 10 years, however if have balances on other cards, the utilization % can be affected if close an account and then makes total utilization shoot up. If not worried with that part, then it is fine to close accounts. Best credit scores can be attained with 3 credit cards and have 2 of those 3 at a $0 balance and the 3rd card only utilize below 9% of the available credit. I have several cards that basically have locked so can't be used if hacked but I don't use them and they just sit at $0. If they get closed by credit card company, it won't affect me much so just letting them sit there unused.

[@mikep4869]

@@SS-gd4vm Did something very similar (with no debts) - FICO 876. High scores get better rates.

[@peoples00]

Please Vann can you tell me what is the Automated System that you talk about all the time to get out of debt. You always talk about this automated system and I went back on your videos and the only thing I hear is you talk about this system but not explaining what it is. Please help with this awnser anyone?

[@Jesus-kt5dc]

I think it's velocity banking to the penny. Where the software does all the work.

[@MzMochaCutie16]

🤚🏽🤚🏽 I'd also like to see a breakdown video on the white board of the automated system working as well.

[@peoples00]

Ok so how do we get the Velocity automated software?

[@Jesus-kt5dc]

@@peoples00 I have no clue. Christy would have to give you that information. Sorry I couldn't help.

[@VanntasticFinances]

They have an informational webinar on Tuesday at 7pm CT. Go here to register… bit.ly/CV-velocityweb-R

[@ram200208]

You are not telling the difference between a loan and a line of credit. Why?

[@michaeldusek1107]

She explained the difference between a loan and a line multiple times in this video.

[@tericarter2512]

If it’s a loan, once you use your money to make that payment it’s gone. If it’s a LOC you can make a payment, pay a bill, pay LOC, pay bill. Rinse and repeat.

[@MarshaAltidor]

look up "what is the difference between a loan and a line of credit". Hope that helps

[@cjbegansky2255]

How is their credit so bad with that income? Seems like they lack discipline and don’t pay their bills on time.

[@darrenrice5666]

The more you make the more you spend. It happens. Learn from your mistakes.

[@mikep4869]

This is how most learn personal finance. What's important is they now know and will be far better off in a few years.

[@ram200208]

I've seen many of your videos and they are God sent. But you did NOT mention SIMPLE INTEREST. A ploc works with simple interest. That is the key to velocity banking and it was frustrating not to hear you mention it. Why? You are changing your explanation. Are you trying to sell your service now? I had to stop the video to comment because you have the answer but you are holding back. Why? Do not change your approach to get a client. I have always admired you for being forthright but I felt stress watching this video. Don't be influence by others. Please talk about the monster in the room. The piranha is compound interest and a gold fish nibbling is simple interest.

[@MyMusiclover28]

She can’t say the same things over and over again. Take these videos for what they are; information on how to get out of debt and be stress-free. My goodness 😒

[@VanntasticFinances]

🤣🤣🤣🤣🤣🤣🤣