How to establish credit, how to start credit, how to maintain credit and how to establish good credit in our daily life is very important. Last time I showed how to start credit and how to use and secure secure credit cards. This is follow up, so please check my last video at my own time. In my previous videos, I briefly talked about getting a guaranteed credit card to start offering it in three months.
After managing the use of the card, Capital One starts sending you credit card qualifications by mail, and the name has your name, which means that you’ve got the maximum credit limit of $1,500 in advance. Although you’ve been pre-qualified and they’ll send you the amount, that doesn’t mean you can use all this money.
Regardless of the amount of money in the mail, the utilization rate should still be divided, and eventually they will be divided by three. So this is the first thing they send you after they see you are responsible. Then a few weeks later, your Capital One came in, and now this card has one thousand dollars. But after dividing it by three, you can only use about $330 on it, and you can’t exceed that or exceed it unless you need it. All these are related to the history of these accounts. There will be transaction lines in your credit report.
The whole goal is to constantly build and display them to Capital One. Even if you have a bad job, even if you are the minimum wage, or you have the minimum wage. If McDonald’s pays $400 per payment period, it’s $400, which should be deposited in your bank account. 400 dollars is deposited in your bank account, so you need to split between these cards.
Now there is a $1200 card between the two cards. You can use $1200 if you need. If you don’t know your car is in trouble or suddenly in an emergency, $1,200 means you can save it yourself. You don’t have to ask your parents or your friends. You don’t have to borrow money from anyone because it’s the money you can get for yourself.
If only $400 is deposited in your bank account, you can learn about any of them at a cost of $60 or $300, because it’s about paying on time again and again every month. This is the whole goal. If you start from high school or college, you need to understand the rules of credit. The advantage is that you don’t need a jury when you’re going to buy a car or you want to buy a house or anything.
Why do we build credit, and the reason why we have credit is that people can trust us. Cash is gold. This article is about starting credit. I wish you a happy holiday, ready to put your Christmas tree.
I still need more decorations. This is the holiday season. Everyone should be happy and happy. The most important thing is not to be miserable. Having a good reputation can make you more holiday this season.