You NEED to Build Your Credit! #Credit101

25 Jul 2024 · 1 min

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0:34

In this segment, the speaker advises viewers who lack a credit history—such as college students—on how to obtain a secured credit card by depositing $200‑$300. He recommends using the card for routine expenses like gas and food, ensuring the purchases are affordable, and then paying down the balance frequently—ideally weekly, every five days, or each payday. This consistent, low‑utilization usage and prompt payment pattern is presented as a practical method to build a positive credit record.

Chapters

Now let's say they deny you because maybe you were in college and you don't have any credit. And sometimes you can put $200, $300 on deposit. And then what you have to do is you charge on the card, pay for your gas, pay for a little food. Again, make sure you can afford it. And then you can pay your credit card every week if you want. That's good. Yeah, you should pay it every week or every 5 days. You should pay it every time you get paid. You should pay your balance down. Yeah, pay your balance down.