How To Pay Off Your Credit Card Correctly

Keep watching to learn how to pay off your credit card correctly and increase your credit score 💳

1. Check your payment due date
2. Don't pay the entire balance
3. Pay the statement balance before the payment date
4. Avoid paying more than necessary—credit card companies use excess payments to invest in themselves, when you could be investing that money in yourself instead 😉

-Steve

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Pinne

[yazeed_daan]

I pay my credit card off every Friday I never spend more than what I actually have in my pocket. I only use credit cards to build my score and it’s easier than carrying money

[SandraBiddle-fe]

I have been looking for this explanation! I just didn’t know how or what keywords to use! Thank you!

[lucythecat]

Steve please make a video about taxes on Roth IRA. Process to report on federal filing

[kel]

I’m in my 20s and currently holding 50% SPLG, 30% QQQM and 20% SCHD, and plan to hold and invest till I retire (with asset allocation readjustment regularly). I’m optimistic about the tech sector in the future, but is it too risky for holding such high percentage of tech-heavy stock?

Also, I’m a non-US resident, but considering it’s not so great performance in the past 20 years, right now I’m not planning to invest into international stocks like VXUS (or plan to just invest 5-10% on it). But eventually with the changes in the global market, I’ll plan to include international stocks of n my portfolio (maybe 5-10 years later when I have more money to invest).

I’d like some advice for the allocation. Thank you.🙏🏻

[scottt]

Congrats on your financial status but no one is a self-made millionaire. Those financial institutions where you place your money have incredible personnel that make your fantastic achievements possible. Thank you for sharing all of the advice though, you are doing incredible work too!

[aaron]

I just learned this exact thing recently.

ALSO…to his point. Credit Cards also can possibly charge you a different interest rate on the remaining statement balances!!

So it maybe TWO different interest rates are in the billing statements.

On the other hand…So what!!

Prioritize being cash rich over credit rich!!

[srl]

Just set up autopay for full statement balance. Set it and forget it.

[AndresRodriguez-dj]

What about if can only pay the minimum amount 🤔

[fabiGBOtown]

I don't see why paying the total amount due hurts you. Unless you're withdrawing from dividends or money market / HYSA to pay for it. Could you explain the logic?

[ProfessionalAmateur]

What’s the ideal day to pay it 2 days before?

[chucalissa]

BBBut ....if I don't have the money I can't pay the full statement 😢

[johnemanuele]

First and foremost...I will never use a credit card that has an interest fee..I only use cards with No interest charges..example..no interest for 18 months

[grahfkarate]

Most Americans need to just stay away from credit cards in my opinion. Credit score is overrated. Not a wealth indicator in my opinion

[Lesah_]

I did not pay anything at all until I was offered pennies on the dollar so $4382.00 went down to $436.00 ❌❌❌ is that bad?

[andayfebth]

Can we make payment 10 or 20 days before due date .. Thanks

[BoardCertified]

Self made on a teachers income?? What does your wife do and how much does she earn??

[nein]

I over pay my credit cards so I pay no interest and get cash back

[asiq]

Accidentally pay the total amount 😂😂 bro most people can barley make the minimum payment you delusional if you think this is good advice

[rthellman]

If you didn't understand this then you shouldn't have had a credit card this entire time.

[pedroa.]

You are probably broke giving bogus advice😂😂😂😂😂😂😂