At your credit limit? Velocity Banking Can Still Help!

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18 апр 2024

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Комментарии : 91

@Jbilla82 3 месяца назад

I’m 42 retired Military, I’ve been in debt and personally used a consolidation loan to pay off debt in the past. I’ve watched several videos within the past couple weeks and I can say, I wish I seen a solution like this years ago. If we as Americans allow the banks to control how we spend our money we will remain in debt forever and that’s the worst feeling a person can have. Must fight for your financial freedom. I do consider myself a numbers person and with my own eyes this method works without question. Christy I applaud everything that you are doing, you are literally reprogramming people’s financial way of thinking.

@stuckmoto 3 месяца назад

Velocity banking....your welcome

@VanntasticFinances 3 месяца назад

@Jbilla82 Thank you 🙏🏽 and thank you so much for serving ❤️

@maedixon36 3 месяца назад

I❤ when you do basic white board examples🎉... it reinforces VB for me😊

@moezalva7732 Месяц назад

I am obsessed with your videos! Lol I watch them everyday! This video especially makes it VERY easy to understand the concept. I’ve already started using this and it’s definitely working! Thank you!!!

@homimalave7808 16 дней назад

Thank you for sending me this!

@kennycharles6041 3 месяца назад

The end of the video was some of your best teaching!

@iluvmygirlsx3 3 месяца назад

I love watching your strategy videos. I always learn something new.

@fiftyandfitnesswithtrinag906 3 месяца назад

Thank you for teaching this concept. I jumped right on it.

@frankthomas6250 3 месяца назад

Thanks again. Be Blessed!

@shanellwhite1516 3 месяца назад

Yes, so companies do take credit cards to pay for rent and car, but they do charge a service fee from my experience.

@PetalynSwartHeartFueled 3 месяца назад

Hi there. You are such a gift. Started listening to your videos 2 days ago and have already applied these principles to a credit card and am super excited about it. Question: in California our mortgages and balances rend to be much higher. How do we find lines of credit that would cover them OR how might we use a smaller line of credit to help our mortgages anyway? Would love a video about that. Thank you, God bless

@Vicki1951 3 месяца назад

I wish I was able to speak to you. I know the VB would work for me because I have watched and listened. However, I’m extremely dyslexic and transpose so numbers and thought patterns (logical steps) do not stay with me. I’m 72 and this learning disorder wasn’t considered a learning disorder in the 50’s and 60’s. It was considered “just not putting enough effort or needs to try harder e.g. I’m in debt. I’m paying my bills but I will be doing so until I’m no longer walking on this earth. It’s not poor management it’s due to my husband’s death and burial expenses (short story with a bad ending). I’m fully disabled now and only have Soc sec due to surgery copays. I did request financial aid but didn’t receive it. Anyway, it’s a mess and I will continue to watch and hopefully I can mentally get this method going. Thank you and I will also watch many replays as I already have. God bless you and yours. You’re helping many people. 🙏❤️😊

@Jm-le3iv 3 месяца назад

I Hope things work out ❤

@applespicepuppies9085 3 месяца назад

She has a phone number in the description

@sarahm-a2782 3 месяца назад

This speaks to me at the moment, I'll be referencing this more than once. Thanks!

@emmapeel4299 3 месяца назад

Same. Found her randomly in recommendations at a low point. Felt at end of $ rope. Was trying to decide which account to miss a payment on and WOW! Game changer 😳

@infinitestyles1528 3 месяца назад

New Jersey and New York rent and mortgages are ridiculous also

@emmapeel4299 3 месяца назад

I do appreciate the previous videos as well that mention cutting credit limits aka balance chasing accounts. Never missed a payment and am definitely having this issue with Citi and Chsse. Please take Christy’s advice on micro-chunking if you notice anything that may give you pause to think it might be happening to you. Watching a NFCU card that is suddenly not showing full amount available in one portion, yet still shows full credit limit. 🤔 Luckily it’s less than 300 difference.

@emmapeel4299 3 месяца назад

Update: NFCU is the GOAT! The balance still shows the full limit available 🙌🏻

@victoriaalgra3675 3 месяца назад

We’re in California and we’ve had a few jumbo loans the ratios need to be adjusted and believe it or not it’s easier to qualify for Jumbo loans than FHA .. we’ve had both.. it’s really crazy! 💸💸

@BodaciousWench 3 месяца назад

I was planning on using a credit card for rent and then the CC company dropped my available credit from $2k to $500.

@VanntasticFinances 3 месяца назад

@BodaciousW 😢😢😢

@cherisegary925 3 месяца назад

My apartment complex also accepts credit cards

@MissSenex 3 месяца назад

I am super excited to have found this video because I didn't know this was a possibility. I just checked and my leasing office lets you use a credit card and the fee is only $36.37. I will pay that extra fee all day to have the ability to pay off a loan in 2 months versus 5 years! Knowledge is power!!!!

@hellohereisjim 3 месяца назад

I do appreciate your videos and am applying this to my own finances. I am wandering the expenses is a postive not a negative right? You add expenses and add your income which takes away from the balance, a negative. Am I wrong? I am in no way being negative towards your video, you are wonderful. Thank You.

@jeffreyedwards1174 3 месяца назад

Don't work with cc, need a loc, but if your credit is bad, you just keep racking up debit

@ATFstein 2 месяца назад

Yikes a 2300 house payment doesn’t even exist where I live. San Jose most people are paying 8000+ a month for their AVERAGE homes.

@_Island_Boy 23 дня назад

And most are make over 200k household income. Very manageable

@user-om9yf4kp4l 3 месяца назад

OK, please answer this for me, If you go to the bank and get a loan and the bank never actually loaned you any money ,who actually loaned the money to you ?? Your own credit did , based off of your all capital name, trust , Created at birth , Your birth certificate is a bond , your Social Security number belongs to a trust. It is traded through fractional reserve banking . It starts at a few million dollars and just goes up from there exponentially . So why are we paying for loans if we paid for it through our own credit through our own trust ???

@dawnuranga6997 3 месяца назад

This is assuming you don’t spend the $1200 cash flow because when you add that back to the $1800 you’re back at $3000 on the credit card. Most ppl use their cash flow for other expenses. I mean if they don’t need the $1200 cash flow they could pay that on the credit card monthly and it would be paid off within 3 months. This is the piece I’m not understanding on these videos.

@kerryclare3456 3 месяца назад

My mother paid for her nursing home rent with a credit card. That was a surprise!

@sarahmcdonald9624 Месяц назад

That’s awful

@kerryclare3456 Месяц назад

@@sarahmcdonald9624 The bills were paid in full. Shows you can't even die without someone collecting. Lol.

@stevemouton7531 2 месяца назад

I hope no one takes this the wrong way, in my opinion, this way of doing things makes since if you are a high income earner with cash flow, because, that 9 or 11% Apr won’t affect you if you can pay it off every other month or every month. In this case only it makes sense to use a 9 or 11% weapon to pay off a 3% debt. 9\12 x 2 (every other month) = 1.5%, or 11/12 x 2 = 1.83333%, this beats the 3% debt all day. Just my opinion.

@lolitagreen2611 3 месяца назад

Is there a heloc equivalent for UK ?

@36obba 3 месяца назад

Are ploc simple interest as well?

@myaray1 2 месяца назад

Can someone please explain how the interest is calculated and don’t forget to add the 1-4% additional cost the banks charge for credit card fee on top of the total balance owed

@gkioto 3 месяца назад

Would it be worth it to use my credit card to pay rent if a 2.99% of my rent is being charged on the transaction?

@MsRedrose1983 3 месяца назад

I love your teaching please check your math. Math is a bit off with expenses (1000+500+1300)=2800.

@PoeticallyDivine 3 месяца назад

The $2500 that she's referring to is the $4000 income minus the rent and loan bills that cannot be paid with a credit card ($1000+$500). This $1500 amount always stays in your checking account. After all expenses are accounted for, the cash flow is $1200. Therefore, the $1200 + $1300 in living expenses = $2500. This $2500 is what you pay towards the credit card to keep the balance low and minimize daily interest throughout the month, as the expenses gradually get charged to the card.

@alissaroby7708 3 месяца назад

Mrs. Christy if I put my check into a Heloc or cc and need some cash to pay for lawn care etc. Then what do i do?

@Jesus-kt5dc 3 месяца назад

You write a check, transfer money from HELOC to checking account and pull out of the bank. If it's a CC you swipe it. Have a great day.

@lianagilbert61 Месяц назад

But I can’t direct deposit to a credit card. So I have to direct deposit to checking or savings?

@iadoreadonai 3 месяца назад

❤❤❤

@NCLme Месяц назад

Can I do this without a credit card? If So how?

@snipehuntress7372 3 месяца назад

How do I pay my cc debt? say I have 10 cards I will have to keep those min payments and pay with cash - correct?

@deval3596 3 месяца назад

yes, you will apply the same method to only one card and keep making the minimums on the other 9. once you pay off the first one, then you move on to the second. or you pick one card and then transfer the balances of the other cards when you have enough room to fit the entire balance of another card or at least a good chunk of the owe amount. this way you don't have to keep changing your bills that are setup with automatic payment with the credit card you're doing velocity banking.

@kanchanapillay8078 3 месяца назад

Hai. Can u break down for cash withdrawal from credit card and how to pay off. With starting balance of 4000 and withdrawal up to 3000. Please and thank you.

@viviendoalpresupuesto6926 3 месяца назад

I wouldn't do it if I were you, for this simple reason I believe there's a fat charge on withdrawals from cc😢 It's best to use the c card than take withdrawals

@pufstoy3 3 месяца назад

@6:17 u meant to say "mortgage" right?

@VanntasticFinances 3 месяца назад

@pufstoy3 You are correct!

@olgaconway9131 3 месяца назад

What if you have negative cash flow , can you use several cards to do this?

@SLLLC-904 3 месяца назад

Work with what you have, wisely, until you get to where you need to be!!!

@MrHackfu 3 месяца назад

What if you don't have anything left over after bills?

@deval3596 3 месяца назад

the method is the same, it's just going to take you longer to paydown the balance, but once you start getting down it will start going down quickly. you still need to look at your budget, run your numbers and see where you can cut unnecessary spending that will help you speed up the process. if you pay $11 for netflix cancel it as those $11 can go to your principal as an example. later on, you can get it again.

@sarahm-a2782 3 месяца назад

Look in her videos for ones that say "zero cash flow"

@ToniAdventures 3 месяца назад

Do lines of credit come with a debit card?

@Neverever627 3 месяца назад

Here in Canada they do, so far as that’s you’re only acct with the bank you have the LOC with.

@mernash7421 3 месяца назад

No it doesn’t. You have to open a checking account with them. When I was getting approved for mine she told me that I’m required to open a saving account but checking was optional.

@robtomx 3 месяца назад

Why can’t you just pay the extra cash flow each month instead of these gymnastics?

@Jesus-kt5dc 3 месяца назад

You can, but remember a lot of people have a lot of consumer debt. So if they had no consumer debt you're probably right.

@MrManfred951 3 месяца назад

At that point, you are burning your leftover money instead of getting that revolving line of credit which can be used and paid back again. The goal is to knock it down as soon as possible and avoid the interest being charged on things such as car payments or mortgage payments

@loriowens5623 3 месяца назад

It has to do with the interest saved. Keep watching her videos. It takes a while to understand the entire savings. It is cool info

@robtomx 3 месяца назад

@@loriowens5623 yeah I understand that I’m just thinking if you have 1k cashflow would you end up at the same savings if you just did an extra 1k every month instead of the credit card lump sums. Cause you can only do the lump sum maybe 2x a year.

@crystaldismuke2769 3 месяца назад

Is it worth paying your rent with a credit card if there is a $30 fee to do so each month? Thanks for any help on this!

@harmonyranay07 3 месяца назад

I would say yes

@quingofcozycastle 3 месяца назад

That's what I'm doing, and it's worth it!

@DividendFriend 3 месяца назад

I would say so. Remember, you’re paying down debt and getting rid of large amounts of interest. It’s a little to pay for the long term benefits

@harmonyranay07 3 месяца назад

@@DividendFriend if you earn points on the credit card it may make up for it. So you could be earning the 30$ back.

@user-gg4vh9jx8j 3 месяца назад

Yes because you’re able to use your dollar twice if you pay with your credit card whereas if you pay your rent with cash you’re only using that dollar once and never getting it back.

@Creative0571 3 месяца назад

Notice you did this with some kind of loan or credit card with a high limit. Most “American” people doesn’t even qualify for a $3000 loan let alone $10-50k So what “class” of people does this work for? Thank you!

@Creative0571 3 месяца назад

Or how could someone make this work w/o the extra money to begin with?

@SLLLC-904 3 месяца назад

Those that are willing to work with what they have!!!

@coachanthonyburgos3971 3 месяца назад

All renters can pay their rent with a BILT credit card

@emilyjanick136 3 месяца назад

I could at our last apartment, but we rent a house and can't do it because our landlord doesn't use credit. Not everyone can do credit card payments for rent.

@coachanthonyburgos3971 3 месяца назад

@@emilyjanick136 from my understanding you can have BILT write them a check

@coachanthonyburgos3971 3 месяца назад

@@emilyjanick136BILT can write checks to landlords

@Miss1971Rocha 3 месяца назад

Hii . I am amazed and so grateful for your help. I live in Los Angeles and on the home. I’m interested in doing this however I think I need your guidance. How do I proceed? I give you my contact information, if so, how I don’t want to post it here thank you so much.