When you're first starting off with your credit Journey You have so many questions, so many people giving you ideas and opinions today. I'm going to give you 10 things that I wish I knew when I first started off my credit journey and if you follow these 10 things, you'll be perfectly fine. My name is Walter This is your credit card Master Channel Make sure you subscribe to the channel and give it a thumbs up if you find this video helpful. If you have any questions, please comment it down below.

I Want to help you as much as I can. Number one is going to be paying your balance off in full. This is really important for two reasons. One, it keeps your credit utilization low and then two, you save money on interest.

There is no interest if you're paying off your balance in full every month when that payment is due. So you're going to save money. You're not going to go into debt and be charged interest and all that stuff. Just avoid it.

Keep it simple. Spin it. if you don't have it in your pocket, don't spend it on a credit card when that payment is due. Keep that money aside to go ahead and pay it off.

It'll make life so much easier for you. You'll be able to better manage your credit card account while you're just starting off. Number two is going to kind of roll over from number One, which is pay it off in full. but you need to really use the card for your needs and not for your wants.

Unless again, you're going to pay it off in full. What? I mean by that is I Typically use my credit cards for things I'm already going to pay anyway. So I'm going out for dinner and I'm sorry gonna go out for dinner anyway I Use my credit card to get some points, pay it off in full, and it's a lot safer than using obviously a debit card because it's not connected to anything personal that you have, so use it for your needs, not for your wants. Also, it keeps you out of debt.

If you have a credit card of a thousand two thousand dollars, you you know you feel good about yourself, right? Especially if this is your first credit card and you're gonna have a lot of Temptation on buying things you don't necessarily need. Just don't do it. Only buy things that you were going to get anyway with your credit card, then pay it off full each month. Number three: This is not talked about often I have people who I help on a daily basis and the first thing I talk to them about, especially with identity theft is have you froze your credit.

Freezing your credit is very easy. You do it with the three credit bureaus Equifax Transunion and Experian it is free to do. You go ahead on their website, set yourself up an account, enter your personal information, and what a credit freeze does is it actually will freeze your Credit and I'll put a lock on your credit. So if you're not trying to apply for a credit card, a loan, a mortgage, no one will be able to access your credit.

report into a harder inquiry. This is really good for people who you know go through identity theft. Unfortunately, a lot of people do not have their credit. Frozen You can really prevent yourself from doing this.

and then whenever you want to apply for a credit card, you can easily just unfreeze it. They give you a unique pen that only you will have and you should only keep access to for yourself. So whenever you're ready to apply for something, go ahead and unfreeze it After you've applied you've been approved. Go ahead and freeze it back.

Number Four is going to be Auto Payment now. I Use this myself. I Keep auto payment on every month for the minimum payment due. Why? Because it'll help you avoid late fees.

Auto payment is going to be your best friend. From giving yourself late fees or even worse, when you become 30 days or even 60 or 90 days late, you definitely don't want to to go down that rabbit hole at all. So definitely make sure you have auto pay set up. You can have it set up for the full payment for the minimum payment.

That's typically what they are. It will avoid late fees and so many other troubles that you can possibly have. Number five is going to be great. Credit takes time.

It's not something that happens overnight so you have to be patient. Slow and steady. Wins the race. Keep it simple, make your payments on time, have auto pay on paying full, do the small things, and in the long run, probably six months to a year, if you're just starting out, you'll see a big difference.

Let you know what I'm talking about today is really important. I Also have my ebook that I have that you can click down below to purchase and it gives you a lot more insight on what we're talking about today in this video. it just goes more into detail with it. You get a e-book you get a free audio book, and you'll also get a credit score tracker as well.

For purchasing, definitely click the link down below if you want to dig deeper into what I'm talking about in this video. How to establish excellent credit for beginners. These are all of. My Success secrets for building excellent credit.

So many things that I use on a daily basis for many people to help them get them to where they want to be. As far as credit in their finances, number Six is going to be staying under 30. Credit utilization. That is the total amount of credit that you have.

Let's just say, a thousand dollars. You want to stay below 30 percent of that, which in that case would be thirty dollars. My suggestion is going to be the closer to Zero the better stay under 10 which if you have a thousand dollars would be a hundred dollars. and if you have ten thousand dollars in total credit would be a thousand dollars.

the closer to Zero the Better Again, that comes back in with paying your balances off a full. you'll definitely have a low utilization if you're paying your balances off of Full Number Seven, your first credit card may require a deposit. It's called a secure credit card where the bank will take your money typically anywhere between maybe 200 to 300 that give you a credit card with the amount of money that you gave to them and you'll use your credit card like a number credit card. That's actually how I started.

Banks Would not just give me a credit card because I didn't have any credit so they wanted a deposit to protect themselves. and every month just like a normal credit card helps you build your credit to get it where you need to be. and most companies after about six months to a year will give you your money back because now they see that you are responsible, they'll give you your money back and you'll still have the credit card. Everything's good.

Number Eight will be to shop around. I Could not stress this enough. Please shop around. A lot of these credit card companies will try to get you pay Annual fees and monthly fees because you are newer to the credit game.

Shop around for the best cards. My favorite credit card right now. For beginners, if you're going to do a secure credit card route will probably be the Discover It Cash Back Credit card. You still get your deposit back.

You also earn credit card rewards and there's no fees for having this card. Number Nine: Once you have established your credit, Don't close this card out unless it's costing you an arm and a leg, which it shouldn't be if you're shopping around for no annual fee. Credit Cards Keep this card open. This is the foundation that keeps it on together.

Okay, you're building a house. You don't tear your foundation down because if you do, everything else comes down with it. That's the same thing with your first credit card. You're going to keep all of your history with your first credit card.

It's going to be your first baby. So keep your first baby alive and well. Do Not close it out. You don't have to use it all the time.

You do want to maybe have a monthly subscription on there? maybe a Netflix Or maybe make a purchase at your favorite store, maybe once every two or three months just to keep it active and open. Because if you don't do that, credit card companies will close your card out after a certain amount of time. I Like to keep my first credit card with a recurring subscription I believe I have Amazon Prime on there so every month it just does. Amazon Prime I Pay it on full.

It keeps the card open and it keeps all that history that I built for the last maybe decade or so. Number 10 is a bonus one. This is authorized users. The trick to this and the benefit to this actually is you don't have to be 21 or older.

You could be 14, 15, 16 years old and start getting your credit built. So when you are 18, your credit is in the seven eight hundreds and I'll talk about this more in my book again. So click the link down below. Want to know more but authorized users? You can actually build credit from someone else just making on-time payments and having you as a user on their account.

So these are the 10 things that I wanted to talk about with you guys on things I wish I knew when I first started off on how to build credit I think these are really helpful. click down below if you have any questions, leave me some comments, some feedback and again my ebook is down below to purchase as well. Really affordable, great ebook. I've gotten some great reviews and again right now you're getting the ebook, the free audiobook to listen, and also a free credit score tracker as well.

I'll talk to you guys soon. Be safe Foreign.