Did this video bring more value to your life? Watch more credit card videos: kzitem.info/news/bejne/wH6cvpqBhYuHaW0
@Chinese080808
4 жыл бұрын
The explanation of getting the grace period back is great.
@sfadhjkl4112
3 жыл бұрын
Thanks for this, I actually thought if I always payed the minimum amount I wouldn't be charged interest 🤦♂️. Still crazy to me that we don't learn anything about personal finances in school.
@giannaruland1389
4 жыл бұрын
I left home when I was 16, which meant I was never really shown the ropes with personal finance stuff. Trying to figure it out on my own led to some very naive and costly mistakes in the long run. In the five years I've been independent, I've had student loans/credit cards/ leases/medical bills/etc. trip me up because I didn't understand how they worked/didn't know how to advocate for myself in those situations. I recently stumbled on your videos and they're already so helpful - I feel like this is stuff that every young adult should know but few are actually taught. You break down overwhelming, confusing concepts so that they're simple and feel manageable. Plus, I've already learned quite a few things from you that I didn't know before! Thank you. You're like the cool, helpful dad I never had haha. Added value for sure!
@babyd1737
4 жыл бұрын
You have saved my mental state so much w you videos !! Thank you!!
@VincentChan
4 жыл бұрын
Hey Jason, I actually found your channel from my subscriber list (hopefully you subscribed intentionally and not by accident haha). I just wanted to say thanks and I really appreciate your video where you went over your 5 tips to grow your KZitem channel. The advice is awesome and is exactly what I needed. I would love to stay in touch and be part of the KZitem Finance community with you. Thanks again!
@bobbiwilliam6811
4 жыл бұрын
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@gagesterboy
2 жыл бұрын
the legend himself 😱
@gradgift
Жыл бұрын
Just wanted to say thanks, used this video in a book I wrote as a resource
@speedy00soul
3 жыл бұрын
It's funny how credit card companies allows you x amount of months to pay off an initial balance over time which are broken down into equal monthly payments otherwise known as "minimal monthly payments" and then turnaround and punish you for it.
@JackIsNotInTheBox
4 жыл бұрын
Yeah, paying the minimum is better than not paying at all.
@deansmith4037
2 жыл бұрын
John mate , thanks from England 🇬🇧 spent quite a bit on my credit cards because I like to pay them off quicker than a monthly loan . I've liked and subscribed ☺️
@justincoffman4508
4 жыл бұрын
Nice. Great info man. Paying the statement balance is key. There is a way to do it and lower your balance every month.
@speedy00soul
3 жыл бұрын
Because I was making minimal monthly payments on my card, my credit score dropped by 2 points. The balance on the card was 8 percent of the $2000.00 credit card limit.
@FinancialBeanstalk
4 жыл бұрын
Great information! I've treated my credit card like a debit card and have even been paying it off weekly lately to really stay on top of it.
@ZachSchieffer
4 жыл бұрын
Really great video here! Although I’m sure I’ll always pay my balance in full, it’s great to know in case any of my family/friends gets into this situation!
@HonestFinance
4 жыл бұрын
Hey thanks. I’m glad it helped inform you
@mfarooq1981
3 жыл бұрын
You're doing excellent job. Keep it up!
@HonestFinance
3 жыл бұрын
Thank you!!
@atmslotsjfreezevlogs5877
5 ай бұрын
Pay the statement payment
@Hoppinwithhago
3 жыл бұрын
EVERY CREDIT CARD USER NEEDS TO SEEE THIS
@Zavierdaboi
3 жыл бұрын
Informative and str8 to the point 👍🏾 thank you hood sir
@normanrhone2791
4 жыл бұрын
Thanks so very much for talking the time to send us this information.
@HonestFinance
4 жыл бұрын
You’re very welcome. Thanks for watching
@FOXTheCutestDogintheWest
4 жыл бұрын
I love getting this information from someone so handsome! I always pif👍🏻😁❤️🦊
@tre743
3 жыл бұрын
Can you make a video on what increases your credit score. Another video on what decreases your credit score
@HonestFinance
3 жыл бұрын
Great ideas . Thank you
@freetreej
4 жыл бұрын
I need to switch credit cards... I've been using the same one since 2008.
@Alex-sg3yz
3 жыл бұрын
someone told me that paying the minimum payment will build my credit faster. I'm just trying to find out if that's true. I have not been doing that.
@HonestFinance
3 жыл бұрын
It won’t build credit faster. Having an open credit card will help with credit history, payment history and credit usage. Keeping a low balance and paying on time will help the most
@HonestFinance
3 жыл бұрын
And here’s a video I made on minimum payments and your credit score if you’re interested. kzitem.info/news/bejne/2IKHtK2tiHd5dKw
@Alex-sg3yz
3 жыл бұрын
@@HonestFinance thank you! I already watched your credit videos after this one and dropped a like. also viewed more videos and did more research and as of now my knowledge is much more than a few weeks ago. I appreciate you very much!
@meanbean98
4 жыл бұрын
thank you for posting this
@HonestFinance
4 жыл бұрын
You’re welcome :)
@krystlejane
4 жыл бұрын
Learned something new thanks again! 🙌
@HonestFinance
4 жыл бұрын
You’re welcome!!
@Abdel-j2p
4 жыл бұрын
You give good information I like to watch you video.
@pematsewang
4 жыл бұрын
So I have to pay in full once a month?I have been paying regularly on my credit card.thank you handsome guy
@juanitamartinez7597
8 ай бұрын
So it’s better to pay the whole amount of the min deposit? So that way u don’t pay interest
@LordBlackNephew
3 жыл бұрын
Okay, now what "if" you just paid the minimum balance, but have multiple cards to purchase an asset (real-estate) that can pay the minimum due and put $ in your pocket, yes extremely risky, but just some food for thought. BX STAND UP!!!
@BIGMONEYMEDIA
2 жыл бұрын
That’s what I’m saying, you could pay the minimums this month, use the money to make more money then the next month pay 90% of your balance. Your score would drop temporarily but will rise again once you keep your utilization below 10%
@LordBlackNephew
2 жыл бұрын
@@BIGMONEYMEDIA i was even considering going the business credit card route where as the debt won't show on your personal. BX STAND UP!!!
@BIGMONEYMEDIA
2 жыл бұрын
@@LordBlackNephew yep gotta go through the process of building business credit though by starting with vendors unless you find another way around that, I got cap 1 business but they only report to personal and don’t report to business at all
@littlebeebs1
2 жыл бұрын
Is it even accruing interest if the card offers the 0% APR for 12-15 months? That confuses me .
@HonestFinance
2 жыл бұрын
It’ll start accruing interest on the current balance after the 0% ends.
@joseph10704
3 жыл бұрын
I can't not even tell u how important its is to really pay more then your minimum payments do not ever make those little payments really I'm talking about the only time if u make those payments is if u are broke and u have no money in your bank accounts checking or savings really pay 200 a month if u can .Also here is a tip anyone can do this u should be doing this.Ever paycheck u get save $100 BUCKS do this for 52 weeks u have 5200 bucks for that year in a savings account.U do this kind of savings for your life u can have 100,000 plus more Always save dont rely on the credit cards rely on u saving and putting that money away and then when u can if u want invest.stay far away from credit cards if u rely on these cards u will be in debt your whole life and by the time u are old u won't have nothing.
@lindaanderson279
Жыл бұрын
I’m hanging on to your coat tails , thanks Jason .
@blackcatstudios5165
10 ай бұрын
what if I pay minimum payment and save up to pay off credit card
@robpz448
4 жыл бұрын
Just a quick question. I know you addressed this in another video, but, in order to withdraw money from Robinhood you sell the stock , it becomes buying power and then you can either choose to utilize your buying power into another stock or withdraw the money to your bank account right?
@HonestFinance
4 жыл бұрын
Yes. Once you sell a stock, you’ll get instant buying power for investing or you can transfer the cash to your bank after a few trading days (waiting for the sale to settle)
@robpz448
4 жыл бұрын
@@HonestFinance Awesome man. I'm new . Watched a few of your videos. Big help. Thank you.
@HonestFinance
4 жыл бұрын
You’re welcome!!
@mselec13
4 жыл бұрын
Thank youuuu
@itzjoker1283
3 жыл бұрын
I was told you build more credit faster by paying off the minimum instead of paying off fully is this true ?
@HonestFinance
3 жыл бұрын
No it’s not true
@speedy00soul
3 жыл бұрын
Because I was making minimal monthly payments on my card, my credit score dropped by 2 points. Actually your credit builds faster by not using the card at all or as little as possible. But I find that a 6 (4 is even better) percent balance of the credit card limit may be safe.
@trapfool7458
3 жыл бұрын
All you have to do is use your credit simulator, play with numbers it will show you😏
@BIGMONEYMEDIA
2 жыл бұрын
@@speedy00soul I always leave some of my balance to be under 6% and it raised my credit hundreds of points so why is this guy preaching to pay the whole balance?
@saturdays3984
2 жыл бұрын
Question, what if I paid the minimum payment for now, then I paid it whole (total amount due) before the next due date arrives... will I be charged for interest? how big will the interest be? Thanks.
@NoxVex
4 жыл бұрын
Hello, can I ask something? If I only pay minimum for this month but can actually pay full the next due date, will they already include interest fee right away?
@HonestFinance
4 жыл бұрын
Yes they will charge interest next month if you don’t pay off the statement in full by the due date
@officialwaverty3842
3 жыл бұрын
I have a question I want to pay more than the minimum amount so do I put it under that or do I choose other amount or do I choose minimum payment +other amount ?
@HonestFinance
3 жыл бұрын
Choose “other” and set an amount that’s higher than the minimum
@antoniosmith7010
2 жыл бұрын
If my bill is $800 and minimum payment is $40 a month if I pay $400 next month I pay $300 and next month $100 does that hurt my credit score?
@HonestFinance
2 жыл бұрын
It probably won’t unless you make a late payment or you have a high balance vs limit
@antoniosmith7010
2 жыл бұрын
@@HonestFinance thanks I just subscribed ✌️
@antoniosmith7010
2 жыл бұрын
@@HonestFinance I asked about a Amazon credit card also on another video I’m looking in to getting the Amazon prime card but I’m confused on y my bill was in the $400’s and they said if I get the card I would only be paying like 2sumthing what happened to the rest of the money don’t I have to pay the full amount
@Shadow-rt3fx
3 жыл бұрын
So if my minimum balance due is $0 and my current balance is $70, will I be charged a late fee for not paying anything by the due date and will it hurt my credit score?
@HonestFinance
3 жыл бұрын
If you pay off your statement balance in full by the due date, you won’t pay interest or late fees. Your credit score should be fine if you’re continually paying off your card each month
@Shadow-rt3fx
3 жыл бұрын
@@HonestFinance thanks so much for your reply! It was worrying me a bunch haha
@Shadow-rt3fx
3 жыл бұрын
@@HonestFinance it was saying that the minimum payment was $0 and the current balance was $70 , but i paid my full $70 balance the day after my monthly payment was due so I was confused on whether since it said the minimum was $0 if I was ok or not.
@jlg993m
3 жыл бұрын
What happens if you don’t have any minimum payments due?
@HonestFinance
3 жыл бұрын
Then just make sure to pay off the statement balance in full by the due date
@husamyousif485
4 жыл бұрын
Hello, if I pay the minimum payment will that affect my credit score? Thanks.
@justauser
4 жыл бұрын
Carrying a balance will show up on your credit report and to most lenders is risky behavior so therefore yes it can lower your credit score but it depends on the lenders formula.
@HonestFinance
4 жыл бұрын
It’ll only affect your score negatively if you have too high a balance compared to your overall limit
@chrissymarsha2282
3 жыл бұрын
I know my bank well. Every time I carry a (small) balance, my score stays the same *no increase, no decrease.*
@jacoy6439
3 жыл бұрын
I got a credit card about 6month ago. I’ve never missed a payment and I pay it in full, using the 15/3 rule. I have a 500$ limit and started with 25min. But I pay it all in full. However, I saw today my min went to 14$. Why did it go down when I pay off everything in full. And is it bad?
@josargor8179
2 жыл бұрын
if iheard it right are you saying to pay it full or just minimum? like my minimum rn is 95 bucks. full balance is 1300. if i can pay 800 will that make any difference on the interest i pay? meaning it doesn't matter if i pay 95 bucks or 800 because my interest will be the same unless i pay the full amount owed??
@HonestFinance
2 жыл бұрын
You’ll still be paying interest until you pay off the statement balance in full. But $800 towards it rather than $95 will charge less interest
@macaiwashington1011
2 жыл бұрын
What if I pay the minimum on the site date and I pay it off in full the following day once I get payed?
@HonestFinance
2 жыл бұрын
Why pay interest on the min if you don’t have to?
@macaiwashington1011
2 жыл бұрын
@@HonestFinance that's the the thing I don't have it to pay on the due date but the following day I can pay off the remaining balance. Will I still be able to avoid the interest fees?
@Andrew-Knecht
3 жыл бұрын
My due date is the 11th of every month. Say my credit limit is $1200, and I have a balance of $800. They say to keep your credit utilization to 30% and below but what if I just make one payment of $800 on or before the due date? Wouldn’t I be just fine making one large payment to completely pay it in full? Thanks.
@HonestFinance
3 жыл бұрын
That’ll help the utilization to pay it down before the due date (assuming that’s when they report the utilization to your credit )
@Andrew-Knecht
3 жыл бұрын
@@HonestFinance so would you recommend keeping it under 30% and make more payments rather than just one large payment? Thanks.
@teamclay7506
2 жыл бұрын
@@Andrew-Knecht under
@Tythecodeguy
3 жыл бұрын
On the off chance that you see this, do I only need to pay off my statement balance or pay off my current balance also?
@HonestFinance
3 жыл бұрын
The statement balance is the only one you need to make sure gets paid off in full by the due date
@normanrhone2791
4 жыл бұрын
Notice the 2 banking industry goons who dont like when information like this is out in public to help folks.
@chrissymarsha2282
3 жыл бұрын
It’s because credit is a business and they want to make money off of you
@minewiz1766
2 жыл бұрын
god i hope you see this but I have a question. I have a discover card. so I see current balance and statement balance. IK you say to pay in full but should I pay in full the current or statement?
@HonestFinance
2 жыл бұрын
Pay the statement. Here’s a video that’ll help kzitem.info/news/bejne/pKVnm6qHpZifgKQ
@gradgift
Жыл бұрын
Graduation Gift a Funny Look at Life, Money and Gratitude page 30
@nyalllahtinen6969
2 жыл бұрын
Im in a pickle
@DubZer0
2 жыл бұрын
So I want to pay a minimum balance on my card the day before my statement close date, so that my CCU percentage is reported lower than what it would be now. If I do that, can I still pay off my balance in full after or will I still have to continue paying in minimum balances month to month until paid off?
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