What Is a Credit Score?

Komentar

  1. LawlessNate

    LawlessNate8 bulan yang lalu

    I got a credit card, made pretty much every purchase I could with it, never spent a dime more than I had, and paid it off at the end of the month without ever paying interest. When I went to buy a vehicle they found my credit score was almost 800. I never went into debt (baring the vehicle, obviously), never paid a dime of interest, and my credit score was fantastic. I can see why recommending credit cards to people with no self control is a horrible idea, but lying about what credit cards and credit scores are isn't helping anything.

  2. judas brute

    judas brute7 bulan yang lalu

    @LawlessNate re your first point: then just use a debit card. everyone overspends using a credit card. some more than others, but everyone overspends. "eventually" is a key word. when one spends cash it is felt. watch and LISTEN to what i suggested

  3. LawlessNate

    LawlessNate7 bulan yang lalu

    @judas brute - "...something could happen between when you swipe and when the bill is due that prevents you from paying the bill in full." "...you've now set a pattern of it's ok to borrow money..." Not with a savings secured credit card. It's impossible to spend more money than what you have in the bank with one of those. - "...also you spent more using credit cards than if you used cash and debit instead." Some people do, but not everyone. I, for example, have no mental disconnect between swiping that card and realizing that the money is coming out of my bank account eventually.

  4. judas brute

    judas brute7 bulan yang lalu

    he's not lying. first of all you (i'm not picking on you i mean anyone who uses credit cards) took risk because something could happen between when you swipe and when the bill is due that prevents you from paying the bill in full. also you spent more using credit cards than if you used cash and debit instead. not on every transaction but overall. add to this you've now set a pattern of it's ok to borrow money, which it never is. he's not lying. you're naive. youtube search Dave Ramsey credit cards and Dave Ramsey car payments and actually listen to some of those videos. especially "what the credit card companies don't want you to know."

  5. AmmuluTV

    AmmuluTVTahun Yang lalu

    are you planning to any future film .. glittery & dancing

  6. UnblockedOne2

    UnblockedOne2Tahun Yang lalu

    That's what sucks. I've always been basically debt free until I started building my credit. It's like a trick.

  7. jablkova strudla

    jablkova strudlaTahun Yang lalu

    everything is so weird in the US...

  8. kcsotp

    kcsotpTahun Yang lalu

    Love these types of videos! Please make more

  9. judas brute

    judas bruteTahun Yang lalu

    think only irresponsible morons get into trouble with debt and credit cards? watch "I.O.U.S.A.", "Maxed Out", "In Debt We Trust", "Britain's Trillion Pound Horror Story", PBS Frontline episodes "The Secret History of the Credit Card" and "The Card Game", and BBC special "The Men Who Made Us Spend"

  10. Jessica Bennett

    Jessica BennettTahun Yang lalu

    I'm liking these "What Is" videos George! Maybe you could team up with Churchhill mortgage to do a video on Manual Underwriting :) If people had a better understanding of what it is, they might not be so hesitant with the idea of a non-existent credit score!

  11. Bonnie Half-Elven

    Bonnie Half-ElvenTahun Yang lalu

    I couldn't care less about my credit score, since I never intend to borrow money again.

  12. haytnas

    haytnasTahun Yang lalu

    Finally a millenial-friendly video about Dave Ramsey's logic.

  13. Michael Ares

    Michael AresTahun Yang lalu

    Am currently not in debt, and have a credit score of 774. I pay with my credit score sometimes only for big things (that I know I have cash for to pay back right away when the "pending payment" goes through), so I can get a buck back or two in my cash rewards. I have Bank of America though.....

  14. Frank Kujawski

    Frank KujawskiTahun Yang lalu

    Actually, I think a credit score is how easy lenders can make money from you. An A rating means you will pay interest and fees with out the lender following up. A D means they may not get their full return and will have to send your debt to collectors.

  15. joshx413

    joshx413Tahun Yang lalu

    Completely disingenuous. :(

  16. Michela Rosier

    Michela RosierTahun Yang lalu

    Now, I know. Thank God I wasn't sooooooo mush into Debt. I'm 🔥 since I been watching the Dave Ramsey show, I learned alot, and it's never to late to turn around your mess to be free.❤👐👏👏

  17. Mooseheads

    MooseheadsTahun Yang lalu

    Great video!

  18. jvolstad

    jvolstadTahun Yang lalu

    You can high credit score and not be in debt (paying interest). Don't carry a balance beyond the end of the billing period.

  19. Chris Baker

    Chris BakerTahun Yang lalu

    If you pay everything off to zero your credit score is high.

  20. TV V

    TV VTahun Yang lalu

    I can Dig it!

  21. Nicholas Lettiere

    Nicholas LettiereTahun Yang lalu

    I really don't understand what Dave's issue is with credit cards. i'm 23, I have 6 credit cards. I pay them off IN FULL, BEFORE the statement posts to keep my utilization rate under 5%. My credit score is just under 800. I don't consider this to be debt because I'm not paying interest on anything. I understand the argument that its a slippery slope for getting deeper into debt for some people, but whats the big deal if you're RESPONSIBLE about your finances???

  22. judas brute

    judas bruteTahun Yang lalu

    think only irresponsible morons get into trouble with debt and credit cards? watch "I.O.U.S.A.", "Maxed Out", "In Debt We Trust", "Britain's Trillion Pound Horror Story", PBS Frontline episodes "The Secret History of the Credit Card" and "The Card Game", and BBC special "The Men Who Made Us Spend"

  23. judas brute

    judas bruteTahun Yang lalu

    type "Dave Ramsey Credit Cards" into youtube search and watch those. even though you're not paying interest you still spent more than you would have if you used debit and/or cash. plus you're setting up a borrowing habit at a young age, and sooner or later you'll have a problem where you can't pay back in full on time. debt = risk. it's that simple. life is risky enough without debt. and someone mentioned "free rewards". really? why do you think credit companies give away "free rewards"? because they're good hearted generous citizens? 23 is almost an adult, stop being naive

  24. Dameon Wite

    Dameon WiteTahun Yang lalu

    @Erin Sandwell First, it may help if you explain a reasoning for why credit cards are "a con." Second, in addition to cash back on things that need to be payed for anyway, airfare, home expenses, entertainment, etc, why not use a credit card to get a small percentage back? IT'S FREE MONEY. Just pay off the card at the end of the month and you won't have to pay those insane 25% fees. In addition, the sign up bonuses also can immensely benefit you rewards wise. Whether its $200 from spending a certain amount within 90 days, or 10,000 travel miles (this is dependent of if you travel or not), it's still points for the taking. You obviously have no idea how the financial system works.

  25. Erin Sandwell

    Erin SandwellTahun Yang lalu

    nglettiere it's all a con

  26. H C

    H CTahun Yang lalu

    nglettiere makes sense. i figure im going to have to spend money any way so why not just use a credit card and get 5% cash back and pay the balance off at the end of the month

  27. BLANSTAR21

    BLANSTAR21Tahun Yang lalu

    I'll use my credit score to grab a low interest rate for a new home👌🏼 While currently saving for a down payment;)))

  28. BLANSTAR21

    BLANSTAR21Tahun Yang lalu

    That's right, we both can have what we want:) There's not just "one" way to do it. & "underwriting " will still have an interest with the home right? So, either way will work.

  29. George Kamel

    George KamelTahun Yang lalu

    And I’ll use manual underwriting to grab that same low interest rate for my new home 🤗

  30. 1p4142136

    1p4142136Tahun Yang lalu

    I just have to congratulate you guys in this well made film, I know a lot of work goes into making it.

  31. George Kamel

    George KamelTahun Yang lalu

    We shot this in Bicentennial Capitol Mall State Park in Nashville!

  32. Faizan A

    Faizan ATahun Yang lalu

    Great video. Excuse my ignorance, but where did you guys film this?

  33. George Kamel

    George KamelTahun Yang lalu

    1p4142136 Thank you, that means a lot! Josh on our team has led this series so well. His directing and editing have made it what it is.

  34. maremacd

    maremacdTahun Yang lalu

    I didn’t get the skinny jeans joke.

  35. javier singh

    javier singhTahun Yang lalu

    Dave ramsey brain washing ppl. These are lies. I have a 790 score and am 23 years old and debt free. I got a car when i was 19, paid it off at 20 and never use credit cards

  36. judas brute

    judas bruteTahun Yang lalu

    javier - "Dont beleive the hype just be smart and think for yourself" oh the irony

  37. javier singh

    javier singhTahun Yang lalu

    judas brute not really, im glad i did it. Still have the car. Got it at a 2.5% inteterest rate and paid it off in a couple months. Now, i dont borrow anything but it is nice to be able to borrow anything for almost no interest. This will come in handy when buying a house. Dont beleive the hype just be smart and think for yourself

  38. judas brute

    judas bruteTahun Yang lalu

    think only irresponsible morons get into trouble with debt and credit cards? watch "I.O.U.S.A.", "Maxed Out", "In Debt We Trust", "Britain's Trillion Pound Horror Story", PBS Frontline episodes "The Secret History of the Credit Card" and "The Card Game", and BBC special "The Men Who Made Us Spend"

  39. judas brute

    judas bruteTahun Yang lalu

    saving and paying cash for the car would have been smarter. and borrowing at 19 has set you up, just like lenders want, for a lifetime of borrowing, and borrowing/debt = risk. if you can break this awful habit at 23 you'll be in great shape financially

  40. droptozro

    droptozroTahun Yang lalu

    I had an 800+ score when I last checked prior to buying the house we're in now(which was 2016) and never used credit cards for years either. I had a mortgage for a year at one point about 3 years prior to buying this house, that was it.

  41. Rebecca Craft

    Rebecca CraftTahun Yang lalu

    I’m all about paying things off. But not closing accounts. Life happens and if my score is a 0 I can’t buy a house in an emergency or car or pay for a surgery

  42. George Kamel

    George KamelTahun Yang lalu

    Rebecca Craft Who is buying a house in an emergency! That is one insane emergency! The idea here is that after you pay off your debt, you build up 3-6 months of expenses in an emergency fund in cash. Then you can pay for your emergencies with your own money!

  43. DanTheCarMan

    DanTheCarManTahun Yang lalu

    Ever hear of an emergency fund?

  44. La-Neka Brown

    La-Neka BrownTahun Yang lalu

    This was so timely. I was really angry that after paying off all of my debt except for my mortgages my credit score was in the low to mid 700s. What really helped me was when he said don’t worry about building your credit score focus on building your wealth. Thank you for this video.

  45. George Kamel

    George KamelTahun Yang lalu

    La-Neka Brown That’s encouraging to hear La-Neka! You got this! Stay focused on building your wealth and paying off that house, not building your credit score!

  46. Wade Williams

    Wade WilliamsTahun Yang lalu

    Love the video! However in Ramsey’s other videos he said 6-12 months for it go to ZERO. Which is correct?

  47. 24th Frame Media

    24th Frame MediaTahun Yang lalu

    I think it's like...time will pass & then it will be gone.

  48. Brian Y.

    Brian Y.Tahun Yang lalu

    I have no debt. My credit score is 820. Stop spreading false information. Ramsey and his sheep... sheesh.

  49. Dameon Wite

    Dameon WiteTahun Yang lalu

    Are you saying that a house should be paid for in full (all cash/debit) at the time of purchase? It seems that you are converging two different topics and spreading false information. I myself have a mortgaged house at a healthy 4.15% APR. This is good debt as the margin between historical averages of index mutual funds/ETFs is substantial. Dave says that he can get a "12% return after fees" on his mutual funds, but lets assume a conservative 7% return after inflation. That gives an approximate 3% difference in capital year over year. In addition, most people who have mortgaged their house are using their INCOME to supplement payments, so it's not like we will be using the capital left over to address the expense of the mortgage from our investment account, which will be compounding year over year rather than being tied up in a house. I think, and you are free to clarify this, but it seems that the reason that you don't advocate for credit cards is because the people who are using them simply are running up debt. I do understand that the average individual holds debt on a credit card, but there are also people outside of those bounds. Do you feel that every individual should not have a credit card? Another aspect of credit cards, which Dave tells us, is that an individual is more likely to spend more with a credit card in their pocket than cash. This is one thing which I completely agree with, but still feel that it's a bit extreme to cut up credit cards solely on these two negative aspects. For example, I automate my monthly expenses, water, electric, entertainment, etc, on my credit card. I spend roughly $30,000/yr. on expenses, which are all automated with my credit card monthly, and then promptly paid off at the end of the month. This amounts to about $450.00 annually in cash back. Yes, its a low ratio, but its FREE MONEY. You can win if you keep your card with a $0.00 balance at the end of each year. Now, what would happen if a put that $450.00 per year into an S&P 500 or other Broad Market Index Fund from age 25 to age 65 at a 7% annual return. I would have an extra $96,124.31!!! Let's say we get Dave's Mutual Fund return at 12%, that's $386,614.08. Wow. Now, let's say I put that into some bonds with a reasonable 3% return rate. That 386 spits out $11598.42 per year. That's $966.54 per month. So I'm basically doubling my social security during retirement just with simple credit card automation. Beautiful. To conclude, it seems that you people are twisting the way that credit cards may benefit individuals. It definitely doesn't bother me at all since the less the majority of the population know, even about the mathematics of interest rates leaves for massive benefits for the few of us who do. Cheers!

  50. Erin Sandwell

    Erin SandwellTahun Yang lalu

    Shutupppppp.. sheesh

  51. George Kamel

    George KamelTahun Yang lalu

    Brian Y. You can take your high credit score. I’ll take a paid off house and not relying on other people’s money to run my life.

  52. Anthony White

    Anthony WhiteTahun Yang lalu

    I get the point of this is to reduce debt, but the rhetoric is a bit much. “Debt history” makes it sound like you have to have a ton of debt, but really it’s just a measure of how well you pay your bills (credit, loans, mortgage, utilities, etc). Same with “debt level”, it sounds worse than it is. It’s more often called your credit utilization, or how much of your available credit you use, or utilize. People tend to think having more credit debt is good for your score, but that isn’t true. Instead, having lower credit debt, or low credit utilization, is good for your score. Ideally you should have a utilization of below 30%, so if you have $10000 I’m available credit, your balance should never exceed $3000. Having more than that would hurt your score, and having less would help. I love Dave Ramsey and what he does; he’s helped me a lot financially, but when you use credit responsibly, it can be a strong financial tool. You don’t want to be so closed minded that you miss out on opportunities. As long as you budget well and control your spending, credit can be a good thing. It’s important to have a good score because it can help you when buying cars/homes (not everyone can pay cash), and something that I don’t see often enough, is that some employers will even check your credit.

  53. kevinerosa

    kevinerosaTahun Yang lalu

    Usually the ones that brag to me about their credit score, usually have no clue what their net worth is. Credit is dumb, build your net worth.

  54. judas brute

    judas bruteTahun Yang lalu

    BLANSTAR21 he didn't say know your net worth he said build it, which is hard to do when you worry about having a good credit score

  55. RD D

    RD DTahun Yang lalu

    kevinerosa BINGO!!!!!

  56. BLANSTAR21

    BLANSTAR21Tahun Yang lalu

    kevinerosa Not necessarily. I have a nice credit score & I know my net worth. :)

  57. Brian Y.

    Brian Y.Tahun Yang lalu

    kevinerosa There are people around you that brag about credit scores? ...not sure if you are around the right people. You can have build both. It's not one or the other.

  58. Enrique Jaimes

    Enrique JaimesTahun Yang lalu

    A couple of years ago I acquired a 3 year car loan that I fully paid in 11 months. My credit score went DOWN! Since then I realized that credit score only reflects how proffitable to the banks I am.

  59. Denise Denise

    Denise DeniseTahun Yang lalu

    We just paid our car loan off and while doing so our credit score was going up, when we paid it off if dropped by over 50+ points. Credit is a scam.

  60. lambchopxoxo

    lambchopxoxoTahun Yang lalu

    Meh

  61. yhwh strateuma

    yhwh strateumaTahun Yang lalu

    I really like the style it's great

  62. Jada Ashley

    Jada AshleyTahun Yang lalu

    I was referred to this expert hackers who helps to eliminate credit debt,improve credit score,clear negative collections, you can get to them on ZEUSHACKERS01atOUTLOOKdotCOM. My cousin said they're very good and also helped her colleague at work but I needed to confirm their service. My credit was 475 but after few days of working with them I was surprised my score has risen to 810 and they also helped me with some money transfer hack.I now live a better and comfortable life

  63. Warya hoyaaada Waas

    Warya hoyaaada WaasTahun Yang lalu

    Jada Ashley lies!

  64. Mcfleury1000

    Mcfleury1000Tahun Yang lalu

    Your credit score is not good if you carry a balance month to month. This whole"you need to take on and sustain debt" is a blatant lie

  65. Enrique Jaimes

    Enrique JaimesTahun Yang lalu

    Brian Y. Probably, I am not a finance guy. I am sharing MY experience, and believe me, I know it better than anyone. Can at least share yours so we can learn?

  66. Mcfleury1000

    Mcfleury1000Tahun Yang lalu

    MyRoomStudio1 people who use credit cards properly (those with good credit) don't have sustained balances at the end of the billing cycle.

  67. CrzyMan

    CrzyManTahun Yang lalu

    Well, They also refer to having anything on a credit card as debt. So, I guess you could define having a non-zero balance on your card each month as "sustained debt"

  68. Jedijess 21

    Jedijess 21Tahun Yang lalu

    I love this video!!! Simple!!

  69. George Kamel

    George KamelTahun Yang lalu

    Jedijess 21 Thanks Jess!!

  70. I05151942

    I05151942Tahun Yang lalu

    Love this

  71. George Kamel

    George KamelTahun Yang lalu

    I05151942 Thank you!

  72. Dax Brook

    Dax BrookTahun Yang lalu

    I’m getting my first credit card 😎

  73. Brian Y.

    Brian Y.Tahun Yang lalu

    George Kamel Sure, those wolves can eat you retards for all I care. Those of us that understand and can think for ourselves will live on with the benefits of credit cards.

  74. Dax Brook

    Dax BrookTahun Yang lalu

    judas brute Yup.

  75. Dax Brook

    Dax BrookTahun Yang lalu

    judas brute How is this even remotely similar?

  76. Dax Brook

    Dax BrookTahun Yang lalu

    Dave The Great Lecter Yeah and some people don't need to fail in order to learn.

  77. Billy Hansen

    Billy HansenTahun Yang lalu

    Now you guys are saying it takes within 2 years for it go to zero? That makes more sense since it took over a year for mine to go to zero.

  78. Oscarnodwannabe

    OscarnodwannabeTahun Yang lalu

    THANK YOU! I hate credit scores, if I were to pay off my student loans right now it would decrease my credit score because the age of my accounts would decrease. The formula is absolutely ridiculous.

  79. Brian Y.

    Brian Y.Tahun Yang lalu

    Oscarnodwannabe The formula is smart. You are stupid. Stop whining. Learn it.

  80. Zach Simpson

    Zach SimpsonTahun Yang lalu

    Oscarnodwannabe No, your length of care history would remain the same.

  81. Noelle Crisafulli Davis

    Noelle Crisafulli DavisTahun Yang lalu

    Loved the music. It got my attention and I clicked over to watch and not just listen to, the video.

  82. janet Arreguin

    janet ArreguinTahun Yang lalu

    I used to be a Maximista. Not anymore!! Debt free baby!!

  83. DKennyPie

    DKennyPieTahun Yang lalu

    Why didn't I know this in my early 20's 😣......

  84. joshx413

    joshx413Tahun Yang lalu

    judas brute you apparently are with your ad hominem attacks. You're obviously naive. Enjoy not taking advantage of free money/protection. Stay ignorant my friend

  85. judas brute

    judas bruteTahun Yang lalu

    because leveraging debt is a gamble. there is no such thing as good debt. debt is financial cancer, so you're saying you have the good cancer. why go into debt? why not save and pay in full up front? are you a child?

  86. joshx413

    joshx413Tahun Yang lalu

    judas brute gambling is stupid and irresponsible. What does that have to do with being fiscally responsible, and leveraging debt?

  87. judas brute

    judas bruteTahun Yang lalu

    you have no idea what debt and risk represent. you're like a craps player who thinks he can beat LasVegas with a system. think only irresponsible morons get into trouble with debt and credit cards? watch "I.O.U.S.A.", "Maxed Out", "In Debt We Trust", "Britain's Trillion Pound Horror Story", PBS Frontline episodes "The Secret History of the Credit Card" and "The Card Game", and BBC special "The Men Who Made Us Spend"

  88. joshx413

    joshx413Tahun Yang lalu

    judas brute lol. Ya. I'm the brainwashed one. Continue being ignorant. Your loss. If youre completely fiscally irresponsible, lack self control, and common sense. I agree, credit cards are terrible and not for you. But if you are even the slightest bit of an adult with your finances, then you're putting yourself at a disadvantage. It's simple economics. Honesty. And to think otherwise is because YOU are brainwashed by your biased for Dave's opinion. Or like I said. You lack self control/fiscal responsibility and in that case. He's right. Credit cards and debt are terrible. But then again. That's not your problem. It'd be your lack of control/responsibility. If you can't responsibly manage your debt(don't keep a balance) or be responsible, you won't be able to save an emergency fund in the first place. Keep on drinking the koolaid though 👍🏼

  89. Greatest Of These is Love

    Greatest Of These is LoveTahun Yang lalu

    Music too loud

  90. Infrared Sight

    Infrared SightTahun Yang lalu

    What???

  91. 24th Frame Media

    24th Frame MediaTahun Yang lalu

    jokes...am I right...

  92. LivingTheDream

    LivingTheDreamTahun Yang lalu

    The music is really too loud and annoying

  93. Aaron Peavler/Geomodelrailroader Railroad Photography

    Aaron Peavler/Geomodelrailroader Railroad PhotographyTahun Yang lalu

    You don't need to look at the FICO Score. Dave said it himself the FICO Score or the Credit Score is an "I Love Debt" Score. Don't Do That! and raising it is myth it will just put you in debt and having a credit score is dumb idea. Don't put yourself in debt and please America don't get a credit score it will just make things worse.