Welcome to my MissBeHelpful channel!

In this video, I explain:
-how your credit score is calculated
-how to improve your score quickly by keeping your utilization low

I also share a helpful trick to remember these rules, “Divide by 10… THEN spend!” (Watch to find out what it means and get examples!)

More from MissBeHelpful:
My VERY FIRST video (AWWW): https://www.youtube.com/watch?v=SO-xx4acDEM&t=206s
Common Credit Card Myths: https://www.youtube.com/watch?v=RFPeyxmMbo4&t=4s
Budgeting Basics: https://www.youtube.com/watch?v=_au8Vm66xTs&t=9s
How I Save Half of My Income: https://www.youtube.com/watch?v=swaKg2PmSJI&t=1s
Why You Need to Start Retirement Saving in Your 20’s: https://www.youtube.com/watch?v=T9P2Fp-hb3I&t=13s
5 Things to Consider When Applying for New Credit Cards: https://www.youtube.com/watch?v=iXowOnl0Wrc&t=86s
Credit Card Rewards… Do’s and Dont’s: https://www.youtube.com/watch?v=vYAZQBYcijs&t=1s
Become and Expert at Reading You Credit Card Statement: https://www.youtube.com/watch?v=EsCuSODsRnY&t=8s
How To Improve Credit With Limited or No Credit History: https://www.youtube.com/watch?v=dslSyGRM6s4&t=7s
Best Apps to Save for Retirement with a ROTH IRA: https://www.youtube.com/watch?v=mwiUPkBI-1Q&t=27s
Best New Way To Improve Credit – No Credit Card Required: https://www.youtube.com/watch?v=6b9eMsb7K8U&t=1s
How Trump Can Affect Your Finances: https://www.youtube.com/watch?v=S0Sv6-lXJhY&t=4s
How I Use the Grace Period to Avoid Paying Interest: https://www.youtube.com/watch?v=crUU0teDcH0&t=32s

Let’s connect:
FACEBOOK: https://www.facebook.com/missbehelpful/
INSTAGRAM: https://www.instagram.com/missbehelpful/?hl=en
SNAPCHAT: Coming Soon!
BUSINESS INQUIRIES: Missbehelpful@gmail.com

’Til next time… PEACE!
Video Rating: / 5

How to Build Credit With No Credit History

For more information on how to build credit, visit http://www.gobankingrates.com

Whether you’re a young adult applying for credit for the first time, or you just haven’t used credit in a while, when you finally do want to get credit it can be a frustrating process. You need a credit history to build credit, but no one will approve you for new credit without a credit history — a chicken and the egg scenario. Who knows how these rules came to be, but we’ll show you how to work with them.

DON’TS to Avoid When Building Your Credit

DON’T apply for new credit cards, even credit cards offered to you at retail stores. If more than one creditor has decided that you aren’t creditworthy, chances are the rest of the creditors will reject you too. And every time you send in a new application, your credit score goes down a little bit.

DON’T bother getting a loan with a co-signer just for the sake of building your credit. Before the recession, this was a popular tactic that a lot of people used and that worked fairly well. But these days, creditors are a lot more interested in you proving that you are responsible with your money, not just your parents or your good friends. So getting a co-signed loan or being added as an authorized user on someone else’s credit card are going to do little to nothing to build your credit up.

Apply for a Secured Credit Card

Secured cards are great because they prevent you from getting into trouble with debt since you provide the cash up front. Then, when you sue the card, you are essentially using up money that you’ve already deposited ahead of time. Plus, your card activity is usually reported to the three credit bureaus, helping you raise your credit score and build credit history on your credit report.

Before you select a secured card, keep these tips in mind:

1. Make sure that the activity is in fact reported to the credit bureaus. Most, but not all secured cards, do this.
2. Make your payments on time! The easiest way to ruin your credit is to make late payments.
3. Don’t max your card out. Try to keep your credit utilization at 30% for the best results and keep in mind that your total credit limit will probably be fairly small.
4. Choose a card with low fees. Some charge ridiculous fees that just aren’t worth it.
5. Be patient and diligent. It’s going to take 6 months to a year to build up your credit history, so be prepared to wait a while before applying for a traditional credit card or a loan.

One secured card that does report to the credit bureaus, charges relatively low fees, and consistently get positive reviews from actual account holders is the Orchard Bank secured card.

Unfortunately, it’s really easy to destroy your credit with a handful of bad decisions. But building up your credit history from scratch can take a very long time. That’s why you have to remain patient and diligent. If you stick with it, you’ll be glad you did.
Video Rating: / 5

For consumers who are starting with credit, the options can be limited until you actually have credit established. If you’re faced with this predicament, rest assured that you do have options. There are credit cards for those who need to build their credit, whether you have had minor credit problems in the past, are a college student, or reestablishing your credit.

For fair credit we recommend Capital One Quicksilver One and Barclaycard Rewards, which are both designed for those who may have had credit problems in the past. For building credit, these two options are the best cards available.

If you are a student, choose credit cards such as the Capital One Journey Student which allows you to build your credit while earning cash back on purchases.

If you’ve had credit problems in the past and are in the process of rebuilding, secured credit cards like Capital One Secured and U.S. Bank Secured can help you on your way.

The Benefits of Consolidating Credit Card Debt

Filed Under Good Credit Credit Card | Comments Off on The Benefits of Consolidating Credit Card Debt

good credit credit card
by ajschroetlin

The process of consolidating credit card debt is certainly a learning curve but is probably one of the best things a cardholder can do that will save them money and simplify their payments. If you are thinking about consolidating credit card debt then there are certain things you should consider first.

What are the benefits of consolidating credit card debt?

Of all the reasons in favor of consolidating credit card debt the one that is most beneficial is that you should be able to get improved interest rates, saving you heaps of cash. In fact anytime you can better your existing interest rate you should consolidate credit card debt. An easy way to see if a specific deal would benefit you is to add up all the interest rates on all the cards you have, divide the sum by the number of cards to get the average interest rate and if the interest rate offered by the new consolidation deal is lower then it is certainly worthwhile consolidating your credit cards as you will definitely save money.

If you have any cards that have a lower rate than the rate offered by the new card, you don’t need to include them in your consolidation.

As mentioned earlier, consolidating credit card debt will actually simplify the payment f your bills as all of your credit card bills will now be rolled into just one, but you shouldn’t do this if you are not saving any money.

Finally, by consolidating credit card debt, you have a much better chance of getting out of any mess you may have gotten into with your cards and it will be much easier to improve your credit history with one card rather than several.

OK, I want to consolidate all my credit cards what next?

Quite simply, go shopping! There are literally hundreds of Credit card companies nowadays, all offering different rates and deals. It may be a good idea to look for companies that offer balance transfers charged at 0% interest for a period of time, usually six months, but beware of the interest rates after this period as they may well be higher than what you were originally paying.

How do I choose which Card is best for me?

Choosing a credit card company for consolidating your credit card debt isn’t rocket science. As long as you keep your eye on the interest rates and the ever present small print, you will know, without a shadow of doubt, which deal is the best deal for you. Don’t be afraid to let the credit card companies know that you are shopping around for the best deal and give them something to beat; if you already have a good deal lined up let them know about it and give them an opportunity to better it, always remember that you are the customer and you owe it to yourself to get the best deal possible.

What if I am in severe credit card debt and am struggling to keep up with payments?

Consolidating your credit cards will help, but you will reach a point when the processes mentioned above for consolidating credit card debt will become useless as they are not designed to counter ever increasing debt but rather to lower payments of existing debt.

If you have fallen too far into debt and the likelihood is that you will struggle to get out of it, it is time to start looking at getting a debt consolidation loan rather than a credit card consolidation agreement. Before you do this you should check out the methods outlined on the sites that are linked to at the bottom of this article.

These methods are disliked by the financial institutions as they are extremely effective at eliminating debt in very short time spans and are totally legal and ethical. So, if you are in trouble financially, you definitely need to check out this information before taking your next step.

Daniel Major is an insightful author on finances and debt. If you would like to know about a new and secret community that is committed to getting you out of debt! Check it out now Get Out of Debt Now