pay your credit card the right way to avoid turning a $50 purchase into $150 of debt

[mourassine]

just paid off 15k in credit cards debts i wont lie feels fucking good to see my statements a 0$ now let my credit score sky rocket to the moon

[stevenlindsey]

I use mine like I would use a debit card. I buy everything with my credit card and pay off the balance every time I get paid. This way I am constantly building credit and if my card becomes compromised it isn't connected directly to my bank account.

[brokenthumbs]

Your explanations are clean. Your added context is perfect and relatable.

[Tell_It_Right]

I had 20k debt on my CC. I sat down one day to go over my finances, and I realized I was paying $200 in interest per month. I realized I was just throwing $200 out the window into the ether. I got to the grind and was able to get it to $0 in 12mnths. It was hard, and I had to sacrifice for 1yr, but I am so glad I paid it off. Barring any medical emergency, I will NEVER run up a CC that high again. Lesson learned!

[jennapromitas]

This explanation is great. Really makes you think about the purchase cause $50 really can turn into $150 fast if you’re not careful.

[dominiqueshelton]

The statement date is the day you want to pay by to not incur any interest…not the due date. It’s important to note that this date may differ from your due date.

[moonstar]

I just paid off 42k in credit card debt. Feels nice to have my money go to my savings instead of interest.

[mdmahdihasankhan]

Ive been watching you since I was 16/17 and im now 24. I’ve built a 822 credit score, emergency fund, retirement funds, debt free (other than full paid off monthly cards) and I’m saving for a house. All thanks to your videos. Big thank you to you *Pecuniary backdoors*

[bringitdanielle]

Uhg. I’m planning to pay off my 2 credit cards this year because I’m paying 300 to each cc bit interest is 250 🙃. Keep me in your thoughts, y’all

[jasoneno]

Bad advice!
Pay your CC off just before the statement end date. That lowers your credit utilization and raises your score.

[ZxanderrR]

Pay most of your balance by the statement closing date, not payment due date. Then pay the rest on the payment due date

[doneropersaud]

The right way to tackle debt is first selling your most valuable possession to use towards your debt hence using avalanche method then use the snowball method to pay off remainder if your assets were not enough to cover it all. I sold my pokemon binder plus some old pokemon games to pay off my highest balances then my earning from work to pay off from smallest to largest and now I’m currently 90% debt free….brought my debt from 33k all the way down to only 3500. Huge accomplishment and I did it in three months. Anything is possible if you put your mind to it!

[DJSliick]

The amount of ppl that can't do this is well into the millions.

[madelaine]

Pay minimum plus add interest.Don't charge.more than your weekly or bi weeks salary. Or pay in full the following month and always on time or use only as an emergency card

[kshmrs]

So focus on paying the statement balance by its due date, rather than completely paying off the current balance at the end of the monthly cycle.

[esco.letsgo]

What credit cards do you guys have? One of mine was 19.5% APR but it didn’t mean anything to me because I’d have one with 24, 000% APR. Treat it like a debit.

[nightwing]

also if u have a 0% intro apr then you can just pay the minimum payment of $40 and your score will not change one bit. even when you are not on the promotional period, its always adviced to just pay off just the statement balance before the due date. you dont have to pay the current balance. that negates the who purpose of a credit card. unless you earn interest the hit to your credit score due to utilization is temporary and has no memory.

[adamp]

The fact people need this video is incredibly worrying. But I’m glad more people are being informed.

[Наталья-жф-]

Is all about having a conscious responsible mindset to protect your home, credibility, My grandmother always told me put away and save at least $50-$100 in *Pecuniary backdoors* . Every time I get paid ..As paying yourself as a bill put the money in an envelope that’s emergency cash for household and myself. take the rest of the pay and take care of your rent and your other expenses… thank you for this video is very informative.

[ТатьянаПискова-дж]

I just wanted to say thank you for sharing this. Because you're right. The worst thing that you can feel is hopelessness. And I hope that someone who is on the verge of losing hope finds *Pecuniary backdoors* and realizes that as long as you're still alive and breathing, there's a chance, there's HOPE that the future is brighter then the present day.