Encrypting your link and protect the link from viruses, malware, thief, etc! Made your link safe to visit.

When to pay your credit cards for the best credit score Tips

The Date When the creditor sends the information to the repository that is the reporting date When you look at your credit statement online you will have all the current charges and then you will login on the next day and they will be gone there will be no current charges that is the reporting date 

It is the date that information goes from the creditor to the repositories. as long as you are at five to nine percent on that date you are in good shape as soon as that date goes by if you want to pay your credit card in full that is fine that is why I say never pay your credit card balances on the due date you should always pay before the reporting date if your credit card balance is due on the 13th and you charge many purchases let's say you pay off your credit cards every month and you charge $5,000. 

monthly if you pay it before your statement date you are fine your score will suffer because if you are paying your bills on the Due date because your credit card is reporting a higher balance than you actually carry so this is how you improve that so you pay it before the reporting date how do you know what the reporting date is? you log into your account and go to current activity and you will watch the current activity as the month goes by your current activity will get longer and longer and then the next day it will be zero. that is the reporting day. is that the same day as the statement day ? 

yes reporting day and statement day are the same thing question could you explain that again. the 3 major repositories collect the data from the credit card companies in the olden days they had these big magnetic tapes the credit card companies would put all the consumers information on the tapes and would send them Currier express to the repositories the repository took that information and ran it into the the repository data base the date when they took that data and added it it to the repository database that is the reporting date okay that is the date when the information goes from visa to Equifax that is the reporting date so get your balances down to 5 to 9 percent the day before the reporting date so if you were to pay on the due date if the due date is the 13th and the fourth is the reporting date if you get your balance down on the third it reports then pay the rest off on the due date if that is important to you Thank every one for coming out and I would like to thank MSHDA

Credit Card Grace Periods Explained 
the grace period on your credit card is super easy to understand it's the period between your billing cycles closing date and the credit cards due date and usually this period is about 25 days and according to the credit card Act of 2009 credit cards that offer a grace period are required to have it last for at least 21 days so you'll at least have 21 days to pay off your credit card after the statements closing date now why is the grace period so important to understand because if you pay off your entire statement balance every month on  time by the due date then you'll never pay any interest you won't pay any interest on your statement balance or your new purchases the new purchases are the purchases that you've made during the grace period it's actually pretty graceful of the credit card companies to not charge you interest as long as you pay the statement balance off in full 

I'm pretty sure that they'd lose a lot of customers if they got rid of the grace period benefit because all those customers that pay off their statement balance in full every month they don't want to pay a dime of interest those types of customers aren't really the huge moneymakers for credit card companies but it does keep them using their credit cards now here's the important part about your grace period that you have to understand so pay attention let's pretend that Jake owes $1,000 on a statement balance but it's not due for 25 days well Jake's got a long time to not worry about anything so in the meantime he buys a TV for $600 and then he gets a stereo for 200 bucks to go with the TV and then Jake racks up another 200 bucks just from random expenses and all of this totals one thousand dollars during the grace period well the due date rolls around and Jake decides that 

he wants to pay nine hundred ninety-nine dollars towards his thousand-dollar statement balance and because he never watched this video he has no idea that he just made a huge mistake remember that I keep saying pay off your entire balance in full that means 100% so now Jake gets to pay interest on that $1 that he didn't pay off but this is just the beginning of the problem because Jake didn't pay off his entire statement balance in full he now just lost his grace period and he now gets to pay interest on the thousand dollars worth of purchases that he's already made and unless Jake stops using his credit card every single purchase he puts on that credit card is going to be charged interest for quite some time and if you want to know how credit card interest works just watch this video on credit card interest this video is just about the grace period now 

there's only one way that Jake can get his grace period back and have the interest switch turned off on his credit card he's got to pay off his statement balance in full for two months in a row and he's got to pay back his interest charges as well now this is what most credit-card companies do to get your grace period back but you're gonna want to check on  that on your own so that you're not wrong two months of paying your statement balance off in full is the general rule of thumb so just double check with your credit card and there you have it your credit cards grace period is honestly amazing if you know how it works and seriously if you do carry a balance on your credit card stop making purchases because you're paying interest on them every single day if you can afford to buy a taco with cash then just do that

so that you're not paying interest on every single transaction that you're making just really only use your credit card if your grace period isn't charging you interest that's the best and the cheapest way to go about it take this advice and use it in your real life I'm Jason with the honest finance channel feel free to subscribe if you're into information like this or at least give the video alike that's all

ST

Search This Blog

Labels

Report Abuse

MUTUAL FUNDS FOR BEGINNERS INDIA ? INVESTMENT ? WHAT IS MUTUAL FUNDS EXPLAINED!!

MUTUAL FUNDS FOR BEGINNERS INDIA ? INVESTMENT ? WHAT IS MUTUAL FUNDS EXPLAINED!! Hi MERE DOSTO, MR PATEL KI SARI FIXED DEPOSITS CDFC BANK MAIN HE BANTI HAI.. INFACT UNKO ITNA LAGAV THA CDFC BANK SE KI UNHO NE APNEY CHAUDA SAAL K BETEY JIGNES SE KEH DIYA THA KI "TUJEY NAUKRI CDFC BANK MEIN HE KARNI HAI BADEY HOKAR".. AAJ UNKA BETA COUBIS BARAS KA HO GAYA HAI AUR,'CDFC MEIN INTERVIEW DENE GAYA HAI' SO FRIENDS, KYA JIGNESH KO NAUKRI LAGEGI.. KYA HAI YE VIDEO BANANE KA KARAN… YE SABH MEIN SHARE KARUNGA LEKIN USKEY PELHEY.. MEIN HUN BHAVEN CERTIFIED FINANCIAL PLANNER. FINANCIAL COACH.. AUR AAP DEKH RAHEY HAI THE ART OF WEALTH BUILDING, AAP KA ONE POINT DESTINATION TO SEEK INFORMATION ON YOUR PERSONAL FINANCIAL WELL BEING.. SO COMING BACK TO the STORY.. AAJ THO MR PATEL KI KHUSHI KA THIKANA NAHI hai..JIGNES KO CDFC BANK MEIN NAUKRI jo LAG GAI… AUR ,EK AUR KHUSHI KI BAAT YE THI KI dus saal PELHEY JO Fixed store DUS LAKH RUPYO KI MR PATEL NE BANAI THI CDFC BANK MEIN USS

How to increase bank balance, save money? 8 Financial advice tips in Hindi

How to increase bank balance, save money? 8 Financial advice tips in Hindi Hello Friends, We all want to take full care of our parents, our family, and Children. When Children Demand Something, We don't have to say No, just because of monetary reasons We all want a good bank balance, a safe and secured life. If you are suffering from money-related issues, then this video is for you. This is episode 2 of our career advisor series and we will be talking about 8 Habits to to save Money In this video i'll be really practical I'll Not throw big words such as leave your job, Change though process, Change communication, Learn English or Learn Programming. I'll tell you 8 simple habits, which can change financial condition of every employee, businessmen, housewife or student and it is not necessary to adopt all these 8 habits, Even if you adopt 1 or 2, I guarantee that you will start to see change in your life I am Rishabh Jain, Startup Founder, Labour Law Consultant to