Hey everybody welcome to my channel if this is the first time hit that like and subscribe button if you enjoyed the video. Today's topic is something on a more serious level, but yet simple that I think Willy goes over looks a lot of people and people. I mean the audience you guys the people who help us out and I think - and I appreciate all of you - you come to us for advice on advanced things, but not even just advanced things on the small and simple things and the topic of today's video is How to build credit with a credit card? I believe that goes on looked because we expect you guys to notice, because you're already subscribed and you watch our videos, some of you, you may not be. This may be your first time and you want to know I'm your guy, I'm here for you, I'm gon na give you five just simple methods on how to build credit with the credit card.

Let's get into the video all right, everybody welcome back so, like I said five simple ways to build credit with the credit card. This means just building a credit card, so you might be just starting off. You may be trying to rebuild the etc. It probably will probably work most efficiently and fastest when you're, if you have nothing versus if you have things when your credit that are kind of holding you back, so you know take it, you know how you can and if it really helps you out.

Let me know, and if you have any other questions, I'm here for you in the comment box below the first thing, I always learned and was always taught - and this is just credit or just money in general - spend what's only in your pocket, don't go out there And try to impress anybody - or you know, do more if you don't have it in your pocket, don't spin it on your card and that is when you're building your credit. That is very important unless there is a really really really really bad emergency that you can't wait and you have to overspend car issues, or you know, hospital bills like something really serious or life-threatening only spinless in your pocket. That is really crucial. A lot of people get a credit card for $ 1,000 and they may not have $ 1,000 and they max that card up and now they can't pay it, and that is the biggest thing that happens and credit card companies make a lot of money off of It you'd be surprised, a lot of people do that, so please spend what's only in your pocket.

If I have $ 100 in my pocket, I know all I can spend it. The most is a hundred dollars, but dad comes me into step. Two okay. I want you to only maintain a twenty percent utilization balance utilization when you're only on your balance pretty much what that means is, if you have in a thousand dollar limit only once you spin in no more than $ 200 a month and pay that in full.

Okay, pay them for so a lot of channels, a lot of experts that always say 30 % and nothing's wrong with 30 %. I'm not bashing, I'm not saying anything's wrong, but if everybody is doing 30 %. How are you going to stand out? Move you coming to my channel, I want you to stand out. I want you to be the cream of the crop.

I want you to be the best. I want you to do the best for yourself. The best for your family stay between 20 percent utilization. Even ten percent, even five, the rule when it comes to utilization, the smaller the number, the better they want.

Somebody that has the money to that disposal, but doesn't need it to break it down, is very simple. If I have a girlfriend that is very, very needy all the time, I'm not really attracted. If I have a girlfriend who has me but doesn't need me, but once me it's a lot more attractive and I'm attracted to that. That's exactly how to credit bureaus.

Look when it comes to utilization, you got somebody who only spends 200, what $ 1,000 limit or somebody who's earns a thousand the difference between them. Obviously, the person with 20 % is going to have a better credit score because they're not spending as much okay. So 20 % even less. If you can number three pay the bill on time and if you can - and I definitely urge you to do so - if you follow those other two steps, you should be able to do it pay it and for one time it's perfect paying it on time keeps Your payments from going into default, they keep them current.

Paying your bill is in full stop interest. Interest rates are going to keep going up, they're going to keep climbing primary. It's going to keep going up things like that. You want to use this credit card to your advantage and not have the credit card.

Use you to its advantage. Okay, so pay your bill on time every month paid in full. I don't care if you have to set up payment alert, I don't care if we have to set up a automatic payment, which typically is really good. If you or somebody who slips your mind, put it on your phone, we got these a thousand on the phones.

Now put that payment reminder in your phone saying: hey Builders do in four days: that's how I do it. Hey Walter Amex bill do four days: okay and that's how I pay my bills, so pay them on time. Pam! No fool! If you follow up those are the two steps you should be able to pay on time, Pam for number four. If you can't get a credit card right now, because let's say your credit is not the best authorized user, an authorized user become an authorized user on somebody else's credit card now.

This obviously is gon na come with trust from that other person. So you may don't just don't act as a random person actually to put more on as authorized user. It's probably not going to happen, sibling a husband, a wife, some other to really trust. So what that means is that person is their credit card account.

Their responsibilities are trusting you, okay, so if you spend something on that card standard, twenty percent give them that money or make the temperature self you're on her account. So it's helping you out a tough and that person out or whoever it is. That's how you can build your credit to becoming an authorized user. It's a lot easier to become an authorized user on an account rather than applying for your own credit card and to be honest guys and in my family this is what I do.

I get everybody started at age, sixteen because in certain places with certain credit card companies, you can get them as an authorized user at age 16. Just imagine the benefit that your son, your daughter, can have if she has a card she's very responsible, of course, or he is very responsible, but they start at age 16 as opposed to age 22. I started ironic age. 21.

22. That's about four to five years of credit experience that I could have had, but I didn't know of okay. So if you can get him started off early to beneficial, if you're a little bit older in your life, it's okay become an authorized user. That ability to credit up this one is more so mental number five patience.

It is not a race, it's a marathon there's! No overnight thing that we can do. That would start was. I wish there was because I would have told you you got ta, be patient. What other, whatever process, or whatever steps, should take, whether that should be in an authorized user, whether that's getting your credit card, or that I was getting a secured credit card.

Whatever process should take. Patience is going to always be in time always gon na be the best teacher time is always the best teacher. I'm gon na put some more videos related to this one in here how to get your first credit card, etc in this, so you can, you know, watch that as well. Let me know what you think: if you have any questions again, let me know always here to help you guys not a financial advisor by any means, but I do have a lot of experience and knowledge with this and I'd be happy to help you guys out Again, thank you for tuning in to my channel, have a good one.