Y’all love making credit confusing af for no reason at all
@MsLady-sd6pz
Жыл бұрын
KZitem life, everybody has a solution to every life situation. Or a follow me I’ll show you how to get rich.
@RubyGxoxo
Жыл бұрын
You’d be surprised at how ignorant people are when it comes to credit. Even people who have accounting degrees can get confused. One example: Our credit statement actually goes from the beginning to the end of each month, but the statement is dated for the 1st-4th of the next month. A lady thought we were supposed to account for those expenses for the statement month and not the month that they were incurred. Pretty simple, but she got it wrong.
@existing196
Жыл бұрын
The system gotta make it confusing to rip us offf out of our money if anything. I was trying not to have a credit card ever but apparently you need credit in order to buy certain things like an appartement, housing, cars, electronics (unless you buy those items in full which is v hard unless ur rich) so now I need to have credit which is stupid. Why can’t I use my own money to buy everything. It’s stupid
@01Wany
Жыл бұрын
It’s not confusing it’s all truth
@eprahs1
Жыл бұрын
You ok?
@katme7119
Жыл бұрын
I don’t care what is what. The bank sends me a reminder to make a payment by July 6. I pay off my balance by July 6. That’s all I need to know to keep my credit score from falling
@Sandraebenezer1
Жыл бұрын
Me too girl, mine was also due July 6th
@DavidTorres-sf2nt
Жыл бұрын
Pay it in full when you receive the statement and you’ll get a higher score
@Ena48145
Жыл бұрын
I finally get what she's saying. I was about to go off. She's saying you need to make a payment for the month before so you're not paying hundreds/thousands per year in interest
@doracampos2088
Жыл бұрын
I made the same mistake you’re making when I started my adult life 🤦🏻♀️ I’m 40 now and trust me… that girl in the clip is saving you from all the headaches I went through. Thank God for internet! I wish there was a the info there is now, back then.
@ieatbread6088
Жыл бұрын
I’m still confused
@fleurmal7648
Жыл бұрын
-Buy stuff in January. -The statement is given February 1st, which shows the statement/list of what you bought in January. -The bank says the due date to pay for January's items is March 1st. Just pay your balance as soon as you get the statement. You will build credit that way and not get behind on payments, and also don't have to worry about interest. Don't buy things you cannot afford (unless there is an emergency).
@NoirRaven
Жыл бұрын
Love how you think we can afford to pay off large, substantial amounts of cash within a month of a statements arrival 🤣
@JRush374
Жыл бұрын
Bad advice. Pay on the due date. You're giving the bank a free loan when you pay on the statement date. Make them give you the loan.
@fleurmal7648
Жыл бұрын
@@NoirRaven this was more a comment of how to start of with credit card and avoid going into debt (by only paying for stuff you know you can afford. I pretty much only bought groceries on my credit card for many years.) You are right this is not usually option for those tackling debts that have already built up.
@fleurmal7648
Жыл бұрын
@@JRush374 It's a good option if you don't wanna pay interest and may not be the best at keeping track of payments. I also get cash back on groceries, so paying immediately gets me free money since I don't pay interest. My parents were wracked with credit card debt cause they bought stuff they didn't need and got behind on payments, so I just do what I can to ever avoid starting that downward spiral.
@surveytestmoney2550
9 ай бұрын
Weird, bcus whatever I purchase in whatever month prior, my credit card shows a due date of the 2nd of the next month, not 2 months later. I used my card Aug 12-24th. They want their money by Sept 2nd and they shall have it... ALL of it..BEFORE Aug 31st!🤣
@teresamadison2928
5 ай бұрын
I make it simple. I pay the entire balance every Sunday. I always know what I have spent and never incur fees.
@Diverse0725
Жыл бұрын
Eli5: You never have to pay your entire current balance. When you go to pay your credit card bill online, the statement balance is the amount that you will be charged interest on if you don’t pay it in full. Always pay the statement balance in full, which is less than the current balance, and you’ll never have to pay interest. If you got your electricity bill today. It wouldn’t be for all the electricity that you used up until the letter came to your mailbox. It would be for the month of October. Pay your electricity bill for the month of October, and you won’t be charged a late fee.
@jac7236
Жыл бұрын
It’s a simple concept but also hard to grasp through just numbers on a screen. I’m guessing I speak for the majority of us
@samuelfahim6355
Жыл бұрын
You do
@tomcat8662
Жыл бұрын
Negative. Who cares if you’ve had purchases since the statement closing date? It’s better just to pay everything off.
@alienmatrix7402
Жыл бұрын
And they make it complicated for a reason. It's all part of the game
@cneer17
Жыл бұрын
(Assuming you’re referring to her execution of the video) Yeah like it was a simple idea there wasn’t much to be explained but she made it worse just to look like she knows something we don’t bc she’s a former trader
@crcajo
7 ай бұрын
Especially when it's on a line of credit you haven't used in a few years. I don't accrue any new charges. It's old debt with crazy high intetest.
@f.-j.j.5738
Жыл бұрын
This is true, but if you can afford it, pay it all off, to zero, before your balance due date, every month. I only use my card for the perks. To me it's like a debit card. Usually immediately after I use it, I pay it off in the evening.
@phenitagomes1292
Жыл бұрын
That's what I was thinking
@tomcat8662
Жыл бұрын
Exactly
@Sandyyyyyyyyyy
Жыл бұрын
I just have my card set to autopay the statement amount every month because same.
@JRush374
Жыл бұрын
You're giving the bank a free loan for about a month. Stop doing that. Just pay it off on the due date. Let your money make you money in the meantime.
@LovelyLady1111
Жыл бұрын
@@JRush374 yes you are so right!!
@mR-dc4oq
Жыл бұрын
Pay it all off before your closing date and your credit goes up.
@doncherf2610
Жыл бұрын
Your credit goes up if you pay it off before the due date. If you're paying by the closing date, that is before the due date, so your credit score obviously goes up. However, be careful. Example: If you pay your balance off 4 days before the closing date, then use your card 2 days before the closing date or if you have a pending charge that completes after you paid off your card, then you will end up with a missed payment including a penalty fee and interest charged. Because either of those examples got added to that cycle you thought you paid off and they need to be paid by the due date which you will not notice until the next closing date which is too late. Stick to the due date, and ignore the closing date. If you pay on or before the due date every month, your credit score will go up.
@heavenlypickler
Жыл бұрын
@@doncherf2610 According to your example, is it better to pay by due date or closing date? I pay it off on due date and my credit score is going up. After watching this clip, I am confused??
@2.5chainz
Жыл бұрын
@@doncherf2610 or just don’t pay off it 4 days before the closing date? The day before was obvious if you ask me
@AllAboutPurple
Жыл бұрын
Just leave 1% of the CL to report & you can pay the rest afterwards…. Leaving some balance will show that you are using the card responsibly. Which is how you get credit limit increases & increased scores.
@stephenroberts2526
Жыл бұрын
Keeping the account open and active is the key. I have seen my score go up by paying off my card in full each month. So, I really don't see an advantage to paying interest on any balance.
@myaccountgotdeleted9999
Жыл бұрын
I used to work for a credit card company and could never explain to customers the difference even tho I was trained for it lmaooo glad I'm out of it
@shinytomoon
Жыл бұрын
it’s easier for me to spend money in november and also pay it off in november, etc. my score is around 800 so that must do the job just fine 😂
@michaelminnick2516
Ай бұрын
This makes more sense if you think back to the old days. Spend from April 21-May22. Wait a week or two and get your statement in the mail, then you get a week or so to get your payment check in the mail before the June 21-ish due date.
@ninchemarie
Жыл бұрын
just looking at the credit limit 👁👄👁
@neoloanderson6676
Жыл бұрын
Me too😂
@FRESNOSTATE1559
Жыл бұрын
Y’all have $500 limit lol 😝
@jones2277
Жыл бұрын
for an adult that's nothing special.
@jones2277
Жыл бұрын
@April G ok, my bad. an adult job.
@lizpark9854
Жыл бұрын
@@jones2277 what you’re saying can come off as insensitive 😊
@2718aj
Жыл бұрын
I might actually be stupid because this left me even more confused and I wasn’t confused before watching this Edit: I know how it works it’s pretty straight forward and simple but she made sound so confusing like it’s rocket science
@ChannieChauni
Жыл бұрын
Me too
@lolitzshelly7229
Жыл бұрын
And her tone… I guess I might be sensitive too :(
@trichey1712
Жыл бұрын
You are paying for the amount you spent in month a in month c
@clarkroath926
Жыл бұрын
From April 22 to May 21 you can buy whatever you want. By June 18 you have to have paid for all of that or else you pay interest aswell
@martha_aj4386
Жыл бұрын
The statement balance is the amount you charged in the previous period. This is what you pay by the due date. If you pay the statement balance, you will not pay interest. Purchases in the current time period( between the last statement date and current) are added to the statement balance after the statement closing date.
@sublayerX
Жыл бұрын
This is kind of similar to when you find out you don’t get paid for the first week until the end of the second week of working..”hold a check”
@rowdywizard2071
Жыл бұрын
My parents told me when I get my billing statement, don't pay until the absolute last minute. With Capital One, you can set when you automatically pay, so I have it set to pay in full on the due date. Super easy, don't gotta touch anything. Don't complicate things
@phenitagomes1292
Жыл бұрын
Omg why do I feel overwhelmed by what your saying. I don't understand. Like a whole different language. I need answers to this issue. Because I'm just thinking if I was to explain something I always choose the simplest way to get through to people. Like explanations for dummies. 😫 I'll watch 20 more times.
@kaitlinjohn3625
Жыл бұрын
What you spend in January will be what makes up your bill in mid February. What you spent in February will come through on a bill in March and so forth. So if you go to Starbucks December 20th, January 5th, then get a bill January 15th for a Starbucks order, it's not the January 5th order, it's the December 20th. This can mess people off because if they aren't paying attention they might think they are caught up on paying things off but actually they still have another month to go.
@Nicolas_1311
4 ай бұрын
Had a hard time at first, but now I totally get it. Thank you! Keeping utilization at 1% on my cards now :)
@OutSidrQQn
Жыл бұрын
I needed this. I’m 44, and now I have a cool bff! But, all I can return are comments of appreciation. So, thank you.
@AztkSmooth
Жыл бұрын
Just pay off your balance weekly. Make it easy. Or how I use to do it, daily. Now I track it weekly. You can also pay it off according to your pay schedule. Just make sure your balance at the end of every billing cycle is $0
@JRush374
Жыл бұрын
You're giving the bank a free loan. Stop doing that. Just pay on the due date.
@princessmorebucks
3 ай бұрын
@JRush374 that's why you should have a cash back and/or rewards card. A card with no benefits would be an interest-free loan. I spend on my credit card and pay it regularly to reap cash back rewards and to estabilsh a spending history with my bank
@BNJA5M1N3
21 күн бұрын
That's what I do
@dharmaangelg3467
Жыл бұрын
What u pay April 21- may 21 on June 18th? U said that at end but I thought u said don't pay on pymt due date...
@timekabolden5309
14 күн бұрын
I caught that too. Just confusing!! 😅😂😂😂
@stargazeronesixseven
Жыл бұрын
🙏 Thank You So Much for reminding us , that we still have Credit Card bills to pay next month for this month's purchases! ☠
@timekabolden5309
14 күн бұрын
😂😂😂😂
@mariemika8929
Жыл бұрын
Thank you for this break down it was the best I have seen
@mariafriend644
Жыл бұрын
Pay it in full and you don’t have to worry…. Don’t charge more than you can afford to payoff. Your credit score is the measure of your relationship with Debt.
@deborahwax2100
4 ай бұрын
Thank you so much. Of all the great advice you give, this one hack has helped me the most. For yrs, i thought i was doing good slways paying cc bills in full on the “due”! Date. But doing as you said has raised my credit scores 3 fold, Amazing!!!
@PauloNavarro
Жыл бұрын
Me: This sounds like good information. I should pay attention. Me 10 seconds later: Wait... I completely stopped playing attention.
@SO-ug5ns
Жыл бұрын
Thank you for the tip I know will subscribe to you faithfully and listen to follow you full time
@bwoodbury5485
Жыл бұрын
And this is why the credit companies are a billion dollars industry
@lkris21
Жыл бұрын
The knife earrings tho!🔪🔪🔪🔪
@topdog8534
21 күн бұрын
This only helps if you NOT trying to build credit
@veronicar.6000
Жыл бұрын
I used to find this so confusing until I worked at a credit bank. Once I learned exactly how credit works and all the bank jargon, it was easy. My advice to you all, if you get a credit card offer in the mail, don't get distracted by the bold font and pretty metallic color! Please, reach in that envelope and pull out the terms & conditions slip that comes with every card offer and read it in its entirety. That is all the information you'll need to know if you choose to sign that contract.
@greeneyedredhead61
Жыл бұрын
It's good there are people like you to help people out..... I've only seen a couple of your shorts...nice job. It doesn't seem to matter how often I explain this toy ex, he still doesn't get it.....and he is in his 60's. He should already know this...but I kinda understand. My parents never taught me about money. I had to learn it all on my own. Also I am teaching my kids about money.... I wish it was taught in school.
@EvanSimon
3 ай бұрын
Thank you, that's exactly what I was trying to understand since I'm new to credit cards!
@shawng4886
8 күн бұрын
Making credit work for YOU. Maintain a balance of 10% of your limit and pay EVERYTHING else off few days BEFORE your statement date so the payment posts and the credit company sends that remaining 10% balance snapshot to the bureaus. Thus you “look” like you only have 10% usage(good) which builds and maintains good credit! You can keep a 10% balance because you’re always paying off the prior month FIRST. So you’re never incurring interest and your balance is always at 10% of your limit. Which is exactly what credit bureaus want to see!
@elizabethaguilera4002
10 күн бұрын
Thank you for good information.
@veronicagraves5621
2 ай бұрын
Thank you once again.
@generally_good_guy
Жыл бұрын
A balance due date is exactly that: when payment is due that month. Pretty much the only date that is important on the statement.
@kailyangel
Жыл бұрын
I actually learned this the hard way when I was charged interest for the very first time. I noticed that I was only being charged for a fraction of the overall statement. Interest was only charged on $100 when my balance was $200. I realized that it was leftover $100 from the previous month. I didn't miss a payment, I just didn't pay it off in full and forgot. But man. That was an interesting thing to learn
@ioledelarosa9491
Ай бұрын
This is what I need it to hear 😊thank you
@KeishaPlnt
Жыл бұрын
Listen...if you can pay on your credit card everytime you get paid. Meaning I get paid every 2 weeks...so I pay my card twice a month. Pay in full if you can. This helped me build my credit relatively quickly. No I'm not rich...just something I learned years ago from folks in better financial standing than I was.
@tiffanyhunter6035
4 ай бұрын
This was so very needed!!! Ty!
@azizihors3598
10 ай бұрын
I fuckin love u. U answer a question i been asking for years about if I'm paying off this month or the previous month. I will subscribe now.😂😂😂❤
@CallieMasters5000
Жыл бұрын
Thanks Capt. Obvious! You're really balling out on $185 here. 😂
@mjp2palmtree
Жыл бұрын
I've actually wondered about this, thanks for clarifying.
@RiverAndBrooke
Жыл бұрын
Great tip! Thank you so much
@dootiefayetz
2 ай бұрын
Omg I’ve been doing it all wrong! Thank you rich bff!
@arianashah8839
Жыл бұрын
Thank you girl ! This was helpful
@chakrakhan8624
Жыл бұрын
Wow I need more of these kinds of videos cause I’m not ready to start investing just yet. I would really like to have like 10 solid credit habits or whatever that will raise my credit score to 700 range and above
@JRush374
Жыл бұрын
Watch Brian Jung's credit card guides on KZitem. They're great.
@I_can_and_will
5 ай бұрын
Thank you ... Flagstaff az
@La-Shan
Ай бұрын
Thank you🔥
@LovelyLady1111
Жыл бұрын
I figured this out like a year ago and unnecessarily would be paying my entire balance off 😭 but now only pay for what I have to, AKA the statement balance!!
@pizookie5
Жыл бұрын
It’s sad that some people don’t ever learn this. I’m lucky to have parents that understood and taught me this early on. 🙏🏼🙌🏼
@txmade4371
Жыл бұрын
Straight cash homie.
@chelsea78344
9 ай бұрын
Wow. I had no idea. I don't have a credit card right now so thankfully I am not affected. I will pay attention to this once I do get a credit card though
@LynRuiz
Жыл бұрын
I’m not sure what the closing date of a credit card versus the due date has to do with avoiding interest. Interest is avoiding by paying the balance in full by the due date. That is it. There is no other way to avoid interest other than just PIF when it’s due. The only reason that you would look at your closing cycle date is to avoid having a bill cut with a balance on it. I do this often to pay off current balances before the bill closes so that when it is reported to the bureaus it is at $0.
@STMARTIN009
Жыл бұрын
The closing is the dates in your billing cycle so if you make a purchase on the card the day after the closing date you won't have to make a payment the next month but the month after.
@lonzeo
15 күн бұрын
Paid my stuff off way before the statement date and my score dropped hard now I’m just waiting to see if it’s a fluke or what because I paid before the due date and shit. I’m an on time person.
@timekabolden5309
14 күн бұрын
Prolly TOO early. U still need an active card.
@chrisvega3433
Жыл бұрын
I just pay mine weekly on my Amex
@fireeye33
Жыл бұрын
I really don't care about these dates as I always pay off my credit card each time I get pay, that means every other week. Hence, I don't pay the interest.
@xxsam0917xx
Жыл бұрын
Yeah... I'm paying the consequences now. I had $2k remaining on my cc, but went to school full-time for 2 years, next thing you know I owe almost $20k 😬 It is what it is lol
@Starlight_16
Жыл бұрын
Not always true, but whatever makes you feel good.
@fireeye33
Жыл бұрын
@@xxsam0917xx always treat your credit card like debit card. I don't use it for spending if I don't have the money to pay for it
@xxsam0917xx
Жыл бұрын
@@fireeye33 True. I will be after I finish my master's and pay everything off 😌
@STMARTIN009
Жыл бұрын
Just pay it off on or before the due date and try not to go over 30% on the credit utilization
@caleb6771
4 ай бұрын
I didn't realize this,great video
@alancham4
Ай бұрын
Pay your bills on time… good advice.
@JoeEnos
Жыл бұрын
Worth mentioning that in a zero interest rate savings world it doesn’t really matter, but now that rates are high it could be huge. Having an extra 30-60 days to keep your cash in a 5% savings account can get you a decent chunk of change that you wouldn’t have gotten if you paid your purchases off right away.
@emilyblenn
Жыл бұрын
your earrings are the best things ive seen all day
@Squid2005
Жыл бұрын
Thanks for reminding me to pay off the credit card I end up paying off like every other day lol
@reneeleese
Жыл бұрын
Same here lol I pay it basicallt whenever I use it
@JRush374
Жыл бұрын
Stop doing that. You're giving the bank a free loan every month. Just pay on the due date so they give you a free loan.
@Squid2005
Жыл бұрын
@@JRush374 I just want the cash back why would I gaf abt getting a free loan
@JRush374
Жыл бұрын
@@Squid2005 you can use the money you owe them in the meantime to make more money. Or use the money as a cushion to lessen the blow of other expenses. And inflation is pretty bad right now so paying a balance with future dollars is beneficial. For example, I have large charges on my Freedom Flex that I used in the Chase Plan feature. It gives me 12 months 0% interest to pay it off and I still get points for them. I get to use the money in the meantime and I also pay them back with future dollars, which are worth less. It's the same dollar amount but in terms of wealth I'm benefiting.
@Squid2005
Жыл бұрын
@@JRush374 u still need to pay it off monthly tho and I have like 10x my limit in savings so I don’t rly need it for a business venture
@Kneel21
Жыл бұрын
Thank you for this video
@luvlyluz
17 күн бұрын
Loving the earrings ❤
@honeybuns5808
Жыл бұрын
Why she makes a so confusing and long explanation for something so simple 🤦🏻♀️
@jtyree0226
Жыл бұрын
I didn’t know KZitem shorts were that long
@FRESNOSTATE1559
Жыл бұрын
She’s trying to lokey show you her limit
@jayguurl
Жыл бұрын
Example. If my statement balance is $500 and my remaining (Not current) statement balance is $0. Does that mean I already paid off my balance that was due?
@roxineus
Жыл бұрын
Thank you
@larissacolon3371
Жыл бұрын
I pay my credit as I spend for the most part. To keep the credit usage percent low and more security when buying things. Also helps me keep better track of what I spend since I'm not using my debit card as much
@chrisbrown8748
2 жыл бұрын
Yeah I’m super anal with this😂😂😂. I have just Uber $100k in total credit limits and my balances for the entire month was $177. I never allow more than 1% of my credit limit to report on each card and even for my four charge cards I typically only let my bill be $100 or less.
@sdot5389
Жыл бұрын
You may have high credit limits, I am similar. But you have to be actively using your credit to be attractive to other major creditors.
@PandaHead602
2 ай бұрын
Proud of u
@LeesaLilHop
5 ай бұрын
My first CC i had to learn the difference the hard way. That late payment just fell off my credit this year *sigh*
@athena608
7 ай бұрын
Take it from my experience - ive never missed a payment on a card, but dont make the mistake i did as a young'in and carry over a high balance month to month and think "oh, as long as I'm paying off my statements in full by the due date I'm fine". When you carry a high balance, it still hurts your credit score if the balance is a large % of your credit limit. Plus, you are walking a high tightrope by doing that because if you do make one slip up and miss a payment or dont pay in full, they charge you interest based on your daily balance or the average daily balance, not just on the amount you're overdue on.
@julia_6924
Жыл бұрын
In short, she’s saying the amount reflected on your bill for this month is for last month’s purchases and you should pay it off in full by the due date stated on this month’s bill… which is what most people do so idk why she has to make it sound more complicated than it actually is.
@raymi9436
Жыл бұрын
❤ thank you! Great channel New follower
@fattysgarage1754
Жыл бұрын
Pay before the closing date to avoid the balance showing on your credit report. I pay the same day or within a day or 2 when the charge posts and enjoy free money with the cash back/
@mae1813
Жыл бұрын
Thanks that helped me alot, nobody ever told me that.
@theveefit
Жыл бұрын
Thanks bestie
@losperezzambrano
16 күн бұрын
I always use the credit card and pay right away just for the points of i don't have the money on my checking account then i dont use the credit card
@saranga1618
Жыл бұрын
Moral of the story- 1. Pay your CC bill before the DUE DATE. 2. Remember the bill is not for last month but instead it is for last to last month. So just note the Statement Closing date while budgeting for stuff. (Eg. If it's March and statement closing date is March 15th. Whatever you spent between January 15th to February 14th will be the included in the bill. The bill is not for purchases made post 15th of February till March. So basically, remember to keep that in mind while budgeting, that's it.)
@TyReckless117
Жыл бұрын
May. ? They would be over 60 days delinquent if they went several months without paying between February and may . They would need to pay off their statement balance from that time period in MARCH to avoid interest
@saranga1618
Жыл бұрын
@@TyReckless117 Damn. I wrote May instead of March. Thanks a lot, I'll change it. I hope I didn't mess up someone's understanding.
@pink8634
Жыл бұрын
Basically, pay your min pmt by due date to avoid past due fee. Pay full statement balance by due date to avoid accrued interest.
@cappy3311
2 ай бұрын
I pay my credit cards in full every Monday morning. I only spend what I can afford.
@Isaac-bc3nr
Жыл бұрын
Doesn't the app literally tell you a payment due date and the exact amount owed in that cycle? What are people getting confused over?
@alisong7120
Жыл бұрын
I get to explain this about 5 times a day. Especially that the due date doesn't change, people confusing their billing cycle days that can change month to month depending on how many days a month has. Also the fun part of explaining that last bit of interest when they pay off a balance when they are out of grace.
@ednamartinez6129
Жыл бұрын
Thanks 😂 I was stressing because I didn’t have a statement yet , I just opened my credit card 3 weeks ago
@jlr_
Жыл бұрын
I just pay off whatever balance at the end of the week lol
@meggo0515
Жыл бұрын
That's absolutely correct!!
@treycain3233
9 ай бұрын
Thank you for explaining that your paying for the previous month i just spend the past 2 hours watching videos and frying my brain trying to make sense of this and sure enough as soon as i did this is the first video i clicked on 😂
@lililululalabooboo
7 ай бұрын
I never understood the difference... I just always paid everything off ASAP. I use credit cards for signup bonuses and cash back rewards. I have a huge aversion to any debt though so I always keep that balance at zero no matter where I'm at in the pay cycle. I have extremely good credit as a result. I encourage this method. BUT if for some reason one can't afford to pay it all off at once... the info in this vid is good to know.
@AlexAndra-iy5zu
Жыл бұрын
I find it obvious but others don’t TYSM for teaching others. It will save ppl thousands of dollars.
@seanthomas2442
Ай бұрын
Genius love her ❤❤❤❤❤❤❤❤❤❤
@WhatWouldChuckNorrisDo
Жыл бұрын
This might've been more helpful to visual learners if you had a total balance higher than your statement balance so you could explain that the remaining balance is what would incur interest charges. i.e. you have a total balance of $200, and your statement balance is $185, if you pay the statement balance you will incur interest on the $15 remaining, which will be seen on the next bill. You will continue to accrue interest on the remaining balance until it is paid in full. This is why paying the minimum due, which is an amount to keep your account current, causes you to pay the most interest (and why creditors allow it so they can make the most money off of you). TLDR: if you can, always pay the statement balance or total balance in full to keep interest low, or at least always pay more than the minimum
@Lillith.
Жыл бұрын
Check if you can pay it off automatically. If you set it to auto the only thing you have to do is make sure you have enough in the bank.
@Sar-ahG
4 ай бұрын
Love your little tips and tricks trying to help you get to a Milli
@bubbleteaaddict7275
Жыл бұрын
I just pay off my credit card bill every week, regardless if it’s due or not lol
@Ben-tt3cg
9 ай бұрын
Good for peace of mind but you lose out on opportunity of gaining interest on that money that you would use to pay the card off in a month.
@matt0844
Жыл бұрын
1. Payment due on the 4th next month 2. I pay off everything two day prior the end of current month 3. And I start using credit after the 1st of next month My credit score have stay around 785 I don’t really care about the score I just use the credit card because For cash back for the thing that I will use anyway on my debit card.
@Lucysil1970
4 ай бұрын
I just pay off the entire balance every month to avoid any issues.
@ChrisCaledon
3 ай бұрын
If only these dates were as simple as that in Canada... nope, they're always due at a different date monthly. One month, it's due on the 15th, and another month it is due on the 18th, etc... so, 1st paycheque or 2nd pay.
@bitspieces8686
Жыл бұрын
So is it better to pay it on the due date or closing date?
@ag_223
Жыл бұрын
I pay the full balance every month, so the due date amount is always $0 and doesn't apply. I just make sure to pay before the date that my debt amount gets reported to the credit bureaus. Works well.
@treycain3233
9 ай бұрын
One thing to mention tho is the current months utilization is controlled by the closing date so if you want to keep your utilization down then youll want to pay your current week for your example by june 21
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