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@kbolling79
Жыл бұрын
Can you please make a video about Credit Card Companies reporting balances and utilization on the main account holder; when it's really the Authorized User who is using the card? Which is negatively impacting the account holders credit score.
@michaelstewart1838
Жыл бұрын
@Luna-tic Yup. Well Said, lesson learned for them. 👍
@michaelstewart1838
Жыл бұрын
@Mike the Credit Guy. Shout out to Mike for keeping it Real, not a lot of "Creators" Call this out Enough. Much Respect homie ✊. God Bless you Sir 🙏.
@MikeTheCreditGuy
Жыл бұрын
@@michaelstewart1838 We have to figure out a way to put a stop to this because at the end of the day our subscribers are at risk. This is the best solution I could figure out on the fly. It’s tough being a creator on multiple platforms and having this issue everywhere. It’s not easy to catch these issues because there are thousands of comments. But our number 1 priority should always be to keep our subscribers and followers safe. 💯
@michaelstewart1838
Жыл бұрын
@@MikeTheCreditGuy Yes Sir you nailed it. I've mentioned this on one of Brian Jung's videos and told him, "it should be a Disclaimer to All viewers to be Aware of, the Scumbags and don't get played with telegram, watsapp, or whatever else crap people propagate." Thank you Mike, this is a big problem and needs to be Addressed, thanks for being that Guy 💪. Spot on, it's All about The People 🙏. God Bless. ✌️
@larrymitchell8480
9 ай бұрын
Would like to here about business credit available for sole proprietors
@jzzb03
Жыл бұрын
Are school loans supposed to have a negative effect on your credit score when your Not in default ?
@lesteryounkin6858
Жыл бұрын
I'm 58 have had a credit card since I was 19, to this day I have NEVER paid a dime of % EVER !! I carry a 0 balance every month.
@MikeTheCreditGuy
Жыл бұрын
Absolutely, I support this wholeheartedly! 💯
@johnnybbop1
Жыл бұрын
Cap
@joeangelmartinez4712
6 ай бұрын
😂@@johnnybbop1
@DeeDee-lr8nb
Жыл бұрын
Experian dropped my score 20 points the second my utilization went to zero
@oklahomafreedom5536
9 ай бұрын
Well put $5 on it and see what happens 🎉
@josemercado3002
4 ай бұрын
My fico score is 598
@Weshoppingforless
2 ай бұрын
😂😂😂😂 you are my guy
@MikeTheCreditGuy
2 ай бұрын
@@Weshoppingforless 🙌🏽
@malcolmsteward8801
7 ай бұрын
Mike does your program can you get student loans removed
@98ws6m6cvert
6 ай бұрын
No one can removed student loans. They can’t even be discharged via bankruptcy. That’s why it’s a crisis in this country. It’s a forever debt.
@juansanchez9391
Жыл бұрын
If you already have a dispute against a verification letter can you still and try disputing your personal information at the same time or should I wait for the dispute to run its course first
@MikeTheCreditGuy
Жыл бұрын
That is a great question. You can in fact dispute something completely different but if you talk to the credit bureaus. They will tell you that you have to wait 30 days. I would suggest waiting the 30 days to avoid them marking your dispute frivolous.
@juansanchez9391
Жыл бұрын
@@MikeTheCreditGuy Thanks yea I’m just getting anxiety dealing with them I just found out how the proper process works on my credit repair journey but I already jumped the gun on disputes so after this one runs it’s course it’s back to the drawing board going to dispute my personal information first then start disputing. I see that they did remove a few late payments from Experian and Equifax so did trans union but trans union put them back 2 days later smh 🤦🏻 so yeaaaaa that always fun
@RBW-mu6yv
Жыл бұрын
Your worst video thus far. Same jargon full confusion repeated over and over, never cleary defining and making your point. Public education has apparently failed you.
@SuperCheeseUs
Жыл бұрын
I'm confused - I pay off the balance before the due date and never pay interest. I read my statements. My credit stays right around the same number every month. I pay off one, use another for the rest of the month, pay off, use another for the rest of the month, etc. What am I doing wrong? Thanks, Mike!
@kbolling79
Жыл бұрын
Good Question
@Ur2011Majesty
Жыл бұрын
After your due date leave a small balance less than 10%
@bella50008
Жыл бұрын
do you have a good credit mix? installment and revolving. get rid of collections
@Succeedin2
Жыл бұрын
SuperCheeseUs are you checking to see when your credit cards actually report to the Credit Bureau’s? I make multiple payments during the month & I pay my balance in full and it still reports at 9-10% of limits on one card. Your mix is important hopefully you have more than just credit cards that give you a mix. That increases your score as well.
@avburns
Жыл бұрын
@@Succeedin2 Funny thing, when I check my free FICO score on Experian it says I have excellent in credit mix and all I have are credit cards. I do have like 19 active cards, though.
@albuquerqueturkey1567
Жыл бұрын
My wife says I look like you.
@SamLozano
4 ай бұрын
Ok so under 30% utilization?
@bjh7467
10 ай бұрын
Got a credit card from Navy Federal and they said they protect your debit card just like your credit card is that true
@swaggerthechosen
Жыл бұрын
Si eres Benito asta for ever resportense ❤
@bizmark2356
Жыл бұрын
Mike if a person is already in the process of doing the old fashioned method of having placed a letter with the bureaus and am still waiting for a response back within the 30 days can you also go on the attack with the Metro program as it's a different method or do I need to wait until all the 30 day windows have passed then start out with the Metro attack program? I guess the question is can you do both simultaneously or will that really screw things up. I realize the old method doesn't work and CMFB complaint is a joke but if already in progress can't turn it off just yet will that ruin my chances to use your METRO 2 program. Thanks..
@evelynbarreiro24
Жыл бұрын
Can Brankruptcies be deleted from credit report for good ? Please advise ..
@michelleelle4622
Жыл бұрын
Bankruptcy will stay on your report for 10 years. After the 10 year mark the law states that if it shows up on your credit score, lenders are not allowed to look at it and make any credit decisions based off of it. 7 years for any other negative accounts. It is part of the Fair Credit Reporting Act. The purpose of the Fair Credit Reporting Act is to : “Protect consumers against the circulation of inaccurate or obsolete personal or financial information.” Obsolete Data is Bankruptcy: 10 years Other Negative: 7 years LEGALLY no company is allowed to base ANY credit score off of “obsolete” data. I just so happen to be studying the Fair Credit Reporting Act at this time.
@ericbetts5380
8 ай бұрын
I need help removing inquiries that are not attached
@MrDSims6
3 ай бұрын
Di
@pauld5641
9 ай бұрын
What are the best cash back cards for FICO 8 of 750? Thanks in advance. 🤞👍
@johnstephens8640
Жыл бұрын
Great video, Mike
@aubreyboyd3605
Жыл бұрын
I'm confused on utilization. If I have a 2500 dollar credit card and use 2000 of it and pay it off by the due date is that low utilization? or do I need to spend only 500 from my credit card and pay it off by the due date?
@RedsAutoDetailing
Жыл бұрын
Pay by the credit card statement and NOT the due date. Know both your statement date and due date.This will show that your utilization is very low which is good. This means you are not having your card almost maxed out when it reports on the statement date.
@hollaba782
Жыл бұрын
You killed it Mike
@PhillipDrumz
7 ай бұрын
Some times the best advice is the simplest- great video - thanks!
@frankieanthony1904
6 ай бұрын
Thank Mike Good program 🎉
@Alipoli_draws_sleepy
Жыл бұрын
My payments are not apply to my balance only my minimum payment
@lisamoorehouse7146
Жыл бұрын
Of course great video!! 😊
@avburns
Жыл бұрын
I typically use my credit cards like debit cards and have them all zeroed out, but when it comes time to app, I do AZEO (All Zero Except One). I'll let a $1 show on one of my credit cards and get the maximum amount of points in this category from FICO and if I'm paying interest like Mike says, it's just on a $1 during this specific period when I'm trying to get a new card.
@leepdw1723
Жыл бұрын
How do find the points given?
@Succeedin2
Жыл бұрын
What do you mean you let a dollar show? No point I pay my balances in full and as long as it reports 8-10% of my limit on my lowest cards I rotate I’m above average and it reflects. If a credit card is not paid in full by the end of the month, interest will be due for those that leave any balances.
@avburns
Жыл бұрын
@@Succeedin2 "What do you mean you let a dollar show?" I'll go to the dollar store and buy a tube of toothpaste for a dollar. Instead of paying it off like a debit card, I'll let it show up when the statement is cut and then I'll pay it off. I learned about AZEO from the MyFico forums. They've tested it and for maximum points with regards to credit utilization it's the go-to strategy. As for me, I went 15 years doing things Dave's (as in Dave Ramsey) way before I got it in my head that I might need a good credit score. So, I'm used to using a debit card and have no problem paying off my credit card the day I use it (Chase, BOA, Amex and Regions) or when it posts (all my other cards). I like knowing I'm taking out the two biggest credit card factors (payments & credit utilization) by doing this. Again, I'm used to operating like this. Letting a bunch of charges accumulate over 20 cards and then paying them off when I got the statement would be more of a headache...for me.
@debraduhon958
10 ай бұрын
As long as the entire statement balance is paid by the due date then you never pay interest.
@smace71
Жыл бұрын
My score just went down like 20 points even though one of my balences dropped $1200. Only thing I can figure it two of my credit one accounts I thought about close last month when I called they waived the monthly annual fee of $5. Now they both show zero and my score dropped. I would love to see a video more of this 0 to 6% range and strategy. I busted my butt to get over 750 now it drops to 725 bastards ha ha
@MikeTheCreditGuy
Жыл бұрын
Where are you looking at your credit score? FICO scores don’t drop for paying down your balances.
@smace71
Жыл бұрын
It dropping 24 points on Experian. And credit view in chase. I am waiting to see my next score on myscoreIq I guess I am a little confused after seeing that points chart you listed. I have 12 credit cards. I only have balances on 4 now and all below 30%. Should I carry a small balance after the close dates on a few of them to up my scores
@smace71
Жыл бұрын
I just looked at myscoreIq it went up on everything from last month 726 to 763 that makes we feel better. I have been busting my butt trying to get over 750
@DeeDee-lr8nb
Жыл бұрын
Has anyone had issues with experian updating your Activity but not your score? If so make sure to file a complaint to CFPB
@Theturbobooster
Жыл бұрын
Very smart on that balance i didn't even know that im trying to get from 677 to 700 or 715 so i can get anex and man its hard that cards hard as hell to get😂😂
@lesteryounkin6858
Жыл бұрын
if you have a 677 FICO with all respect. you're not one who should have a credit card
@bjh7467
10 ай бұрын
That’s not true I pay down my credit card but I have other loans like an equity line Anna mortgage and a second mortgage am I utilization is High Don’t have any credit cards on my credit cards I pay them off every month but my credit score is like 780 but I got that other stuff with the utilization as far as the mortgages and the one line of credit
@MikeTheCreditGuy
10 ай бұрын
What part is not true? What is your interest rate they gave you with high utilization? When did you get your home equity line of credit? When did you get a 2nd mortgage? You left all the important parts out. We are here to have an open dialogue but saying something is not true then throw out a bunch of flex points with zero data points does not help our community. So lay out the data points fam 💯
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