How to pay your credit card bill to increase your credit score

[Music] hey Pat bishop boy mr. seeds are you mr. Kritika so you see me in my CJ you get drippy yeah and make sure y'all kissing with his merch coming soon and what I want to let y'all know is we're gonna make learn about credit and business fun and cool because we are cool I didn't wanna let y'all know that hey man you don't have to be something United somebody unite just to learn this gang just like I did you can learn this knowledge apply it and be successful edit you don't have to change who you are man you're gonna have a good time learn about this pretty business so what we gonna talk about today it's something that is very important I get a lot of questions about is how to properly pay your credit card bills so they can positively affect your credit score okay so the first thing you got to know is the difference between your due date and your statement date okay so how many people know the difference between those two raise your hand how many people know how many people actually know what their statement date is on their current credit card how many people know that's a big deal so I'll go ahead and explain tonight if you don't know it's okay if you stay on to the whole video watch the full video I give you a bonus to CJ you wait on how you can finesse the credit bureaus the strategies the proper way to do it and that's going to it the definitions okay a due date on your credit card that is the date that you need to pay your balance to avoid the late payment okay and you need to know that you need to at least make the minimum amount or that payment and then you'll be good okay so we're gonna start to do that it now the statement date is usually about four or five six days after the due date okay so the statement date is whatever balance is left over after the due day that you didn't pay over just whatever it is that's was gonna get reported to the credit bureau that's why the statement date is appointing that a lot of people don't know about and you gotta go in and look at you easy got an app or when I seen you the mail you gotta go in and find that state we take it that is very important that's what's getting reported to the credit growth so I get so many people say a man I pay my credit card bill uh uh and I gotta wait to it updated just st. updated you you know and in and you know the utilization is high but they pay the better soccer fool and they get no love from the credit bureaus and they try to figure out why that's because you understand statement date and why it's it's very important just as much as the due date so I'm gonna go ahead and kick an example so you understand why are we gonna do it yeah the JIT way CJ you ain't a real cool way hey check this out take this up you get my walk it together okay so let's say car no more let's just use car no more okay let's say you got a credit limit [Music] thousand dollars okay let's say you got a balance oh let's say four dollars okay let's say your minimum payment [Music] is 5000 just say freak they're just numbers right okay now your due date on this car they say it's the first D on the see the first okay not here statement date let's say is you see the six to the month right so you got this this this is an example one of you so let's say the first hit you got four hundred dollars on you and you like ain't trying to buck I hate turning book they're cool in the mouth man I'm trying to hang on to this fall and holiday ain't really trying to buck it I'm gonna pay that minimum that minimum amount man it just be good we're just cool you can you can do this you wanna do this in 50 so you make the 50 dollar payment right so now you take fifty from the 400 now your new balance is 350 right so if you let that fit 315 you don't make any more payments when the six hit what's going to get reported to the credit bro the 350 right so with a thousand dollar credit limit with a 350 dollar balance getting reported to the credit bureaus your where is that man we had thirty five percent right you got thirty five percent now it's not terribly bad but we know what the average is y'all watch the last videos in you can get some information on this critter game you know you need to be under would 30% utilization so if you're 35 you already popping over you want to be a look lower than that you know so now you got thirty five percent that's what's getting reported to the credit bureaus that's why your credit kind of it's okay it's average is it free or whatever so you and there's a way you can do it so let's say you do it the proper way to see that you weren't let's just say you do line here let's just say the first come back around but you do it you do it the right way before this let's say you listen and you pay the full balance you pay the full four hundred go ahead and take out your pocket cause remember like I told y'all stop acting like when you pay your balance off a fool with your credit card the money is going to disappear no it's just back on the card is revolving accounts you can use it again so let's say that you do it the CJ you wear the right way now you're the first seat and you pay it off so you got the balance of zero zero dollars you know so the 68 we drop down zero again cool 400 gun when your pockets a little tight but you paid it up so with a 16 the credit bureau goes to zero dollars so what's going to happen to your utilization it does would go down so when your utilization goes down we'll have it to your credit score goes up because that's the credit Goods gonna see like oh he paid it's over perfect now you link guess we haven't won a 17 this right you decided about all this - usually you get it right no this is my favorite white one a 78 and you know your pockets how you didn't get that phone honey you go ahead and run it back up the 7th hit the credit bureaus think it's a zero but you can run that where you can run a mount back up to 400 what you needed but according to the credit bureaus is zero so you're good so basically what you did is you pull it up on this move push 400 all the balance back on the credit card and the credit bureaus don't even know mm-hmm credit bureaus don't even know you got them nice so you need a cash or something like it okay cool there's ways to take turn turn it into cash you can slide it right over it's all good so with this quick strategy of understanding your due date in your payment date you just saved your critical allows you to go increase and do you really didn't hurt yourself in your pockets cuz you still got access to the money it's that is that simple you you want to wait now you know how we do it see the you that's just one card though let's just go this is one card so card number one let's just say why not we at the Civic right now I'm calling the more we get to seven and you got a point I better let's say you got another card say car number two car number two let's say the due date the due date on this one is saying credit limit though they just say you got nothing all the credit limit limit but this one you've been chillin you ain't got no balance on it because the other example would be if that was just one car so they just say you got now you got multiple cars now you don't never do it so this balance is zero you was only working that other one so how we do it we run up the car we get it all so we gonna have multiple cars and when you have multiple cars you can have some on standby so you got this one arm that ready on standby zero balance right so let's say the due date on this one is let's say the 12 right let's say the statement date is let's say the 16 or 17 cuz it varies on cars sometimes I see some cars on the 4 days from the due dates on fire it varies so ladies let's say this was on the 17 right so the first car you still got the Batterson 400 even though it's a thousand dollar limit now we don't want to act the food on the cards right we don't want to maximize that's what we want to stay away from it was already at 35% 40% so you want to hold it up you don't want to max it out you want to slide over now you an example to my hustlers out there it's no different then if you got 4 zips right which is the QP now you know if you got it you don't make you know you gotta sell them to get you some profit but you know you want to smoke so what you do you take a gram I one of those juice you know you suck the ground smoke to the ground he's like I that's all eyebrows I'm a smoker there's if they got to make some money so what you do is I you take your smoked outer down with and you slide up your psyllium so what you do that next step slide over you're gonna take your little Graham with 200 hours smoking and then whatever there you go you're slide over you ain't gonna run it up when I'm saying is you're not gonna smoke the whole zip you maxed out the critical at you ask that if you smoke the whole zip you ask that so you park it right good you slide over to the other one see I'm saying so you got 400 that you stop there so if the balance is zero the due date is the twill don'ts don't just leave it it just leave it at zero so you gotta pay none so in a statement they hit on that second one the 17th leave it at zero so guess what then the statement date on this second car here it's going to be zero cool the bank shanked the credit grows then they finish when you're painting it all right so guess what happens again here you go here they just said 18 when the 18th hit what you can do it will run up for let's just say you run up 400 again you went up you run on 400 others again right so you have it you only paid off your other one so you ain't even using I'll cash it cuz you didn't want to use you didn't want to get yourself into no gigs with your cash so you just put 400 eyes on the other car so nice how you got building something I'm using an example you just have to pay something painting the gas hitting you have to make a few little payments hearing it so now you got a whole nother run on this one and you ain't gotta pay this one back to it then next 30 days so as the dates go by 20th 21st 22nd to the third you're good you're good and say you because you was using this one so remember car number one the due date is the first and you got that $400 you ran up on that other car so you need to pay that would off by the statement date so the credit girls can see zero put zero uh balance on it but you good because you was using this one you just put no expenses on this one so guess what happens we go back to card on boy here we go back to card number one here cuz let's just say that the date went over now going to the next month now we over to the next one and now we're gonna have zero on the seat we got the serial zero balance on the six but you got the four hundred left on this one this what you expensing though right so you good because you paid this one off so you got all the way to it the next month on this one two and then you got all the way to the next month sixteen seventeen eighteen to pay this one up so I know it's it's time for feeling there's a lot of stuff going flipping and flopping with all these cards you just watch it over again you'll keep game but I won't try to understand it there's no different than where you flipping and flopping your other husband if you could sit time if you could sit down and study how you flipping and flopping at Husson your other move you can study this ain't no different when you win it how y'all flipping and flopping your dues you use this dude on on the beginning of month you be using it do it on the end of the month ain't no different different you know to read so you good here and you come back on the 18th and you pretty much pay this enough and you can yank on back and forth like that so basically the whole point is with two cards for two parts we're just only 400 book y'all get more money on y'all chick y'all get more money to hustling I can show you how you can make 400 ollars revolve over and over without even putting ourselves with some debt with the credit bureaus seeing as a zero dollar matters helping your credits true and you're not even hurt in your pocket because you're not spending your cash you only spending the lines of credit and then you paying back using line of credit again and this is the example with only two cars so just imagine if you had three cards four cards five cards that are just sitting there ready for emergency purposes they could be business purposes they could be for it whatever you need to leverage yourself but if you just understand the dude day in a statement day you would know exactly what you need to put your cash up to save your credit score and when you able to use your lines of credit to help you and leverage yourself moving forward it's just a game you gotta learn you'll get more of it right here and CJ you watch the video again actually any questions holler at your boy this is how we're flipping and finessing the credit grills the right way the legit way the legal way it's your boy mr. CJ you have help hey so after watching the video if he was confused by anything and you have any questions just comment below ask your questions I try to shoot the videos as fast as I can I make them so long you know so I look it kind of be confusing sometimes it's your first time understand this critic so just comment below extra questions I'll be sure to get back to you and answering because you really want to know this credit game because just the way we use that example with the use of large amounts it could be ten thousand and four thousand dollar balance it don't matter how you do it so if you confuse high level or low level extra questions comment below I'll get back to you

Channel: Chris Joseph University

Views: 405,920

Rating: 4.9009161 out of 5

Keywords: credit, creditcards, creditincrease, duedate, statementdate, leverage, creditutilization, usage, creditcardbill, creditscore

Id: P03xJdHTgas

Length: 14min 48sec (888 seconds)

Published: Mon Jun 03 2019