Credit Utilization Statement Date

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[Gladius-NL]

These videos always make me so happy credit score does not exist where I live. What a convoluted weird thing.

[lsgsrob]

Credit is such a stupid concept. I paid off all my debts on the past year or so and my credit went down almost 200 points and now I can’t even get an apartment even though I have enough to pay 2 years worth of rent in my area. Makes absolutely zero sense.

[Tim_ra]

Here's a trick to help credit. Pay a couple hundred dollars online to your credit card the first week you get the bill. Wait two more weeks and then pay the whole bill off. For some reason, they love it if you pay twice in a month.

[Rick]

US Credit score is so weird… Glad we don’t have that stuff over here in Europe (NL)

[AjSoSway]

Thank you I’ve had this question for a long time but never knew how to word it😂

[andiciccio]

Been doing this for years. I put everything on my credit cards for points and then pay it off before the statement date so my official credit utilization rate is 1%

[goldtyphlosion]

Crazy how YouTube is what’s teaching kids this and not public schools

[Jdnexx]

I was paying attention but not paying attention I still don’t understand

[bourbonisto]

I love that we gave banks so much power

[MrFuzzwuzzle]

I just doubled the credit limit on my car making my high rate to low lmao

[w_]

Chase has been periodically reporting my balance to the credit bureaus for months now. I’ll put $2k on the card and it’ll report on that day and then I’ll pay it off a week before the statement is created and it’ll show $2k paid that day and then another report for $0 on the statement. Weird way to do it, but I guess it makes sense.

[ollieb]

If your only supposed to use 9% why did they give so much? Credit cards are basically a scam.

[soggypizza]

You can also let a statement hit and then pay it off completely for another couple months, it hurts one time but then raises your score up steadily

[pelotontherapyy]

I’m confused. He mentioned paying off the $4k balance before the bill was due, avoiding interest and fees. So, how is the utilization rate still high? Then he suggests resolving the issue by paying down the credit card before the statement date. Isn’t that essentially the same recommendation?

[lukej]

I will never lose my dignity enough to bend to the will of banks like this

[USMC_Reaper]

Dang, didn't know the last part but I always use my credit for small things, say I have a 1k total and I spend only 30 bucks, I pay it off almost immediately in the same month even when it's due next month, I just started a credit thingy "account" or something and I roughly have a 740 or so, mighta been 742, you get the point, this guy's pretty legit with his info on credit so take his advice, not with a grain of salt, this stuff actually works, now imma try out that other thing but honestly maybe not, I'm pretty stable as is managing everything without credit

[darkwolfe]

But now your credit card is reporting zero balance which also doesn't help much. If you're after the rewards, then get more credit cards to increase your credit limit thereby lowering your utilization rate

[melstonjhon]

So that means he can use more than 9% but pay it before the statement date?

[RanjitKumar-vxgg]

Make a video on student credit card like what card is ideal for grad students?

[minamedoe]

You deserve to get more views and subs