How to INCREASE my FICO Credit Score Using CREDIT CARDS | CREDIT HACKS


Having a high credit
score is vital to life! It can save you hundreds and even
thousands of dollars on the next purchase. In this video, I will cover exactly how to increase
your FICO credit score using credit cards and ACCELERATE YOUR RICH LIFE. Stay tuned. What’s going on Fam.
Justin Houser here and welcome to my brand new series called
“WHAT THE….FINANCE Friday’s” where I go over vital information in only five
minutes on how to make you financially smart and rich. So if you like to
make that money, keep that money, invest that money and then spend
that money, let’s go ahead and help the YouTube algorithm and
SMASH THAT LIKE BUTTON below, SUBSCRIBE to my channel, and hit that
NOTIFICATION bell so you will not miss any of my future videos. Also, feel free to check the description
link below for show notes, links the recommended
products and anything that I
might’ve forgot to mention in this video. So let’s get right into it. How to INCREASE my FICO credit
score using credit cards. People love to hate on credit cards. Even the top financial experts, such as
Dave Ramsey, says to cut up and throw away all your credit cards. Even
billionaire and Dallas Mavericks owner, Mark Cuban, hates credit cards
so much that he sayss and quote, “If you use credit cards,
you don’t want to be rich.” I don’t know exactly what happened
to these two experts on credit cards, but obviously they had some
sort of teenage relationship,
thought it was true love, but later found out it wasn’t and
split. And now you hate them forever. Credit cards, IF USED PROPERLY,
let me say it one more time, IF USED PROPERLY, can not only help you
establish and raise your credit score, but also get you a ton of free perks
such as cash, hotels and even flights. People love to pick sexy investments
and use elegant terms such as qualified terminable property trust
or an XBRL type language, but they forget
something extremely simple, but equally just as important. CREDIT. Credit is one of the most important
factors in becoming rich due to its simplicity. However, we usually
overlook it in its entirety. It is time to wake up and pay
attention. Now think about this, our largest purchases are usually made
by using credit (like a car, a house, a business, etc. So
why do we not know more about it? Credit comes in many forms such as
mortgages, auto loans, student loans, etc. However, most people are usually making
the same mistake, and it’s major. But the good news is, it’s extremely
easy to fix. Mistake number one: NOT KNOWING THE HIDDEN COST OF CREDIT
CARDS. It is extremely convenient, EXTREMELY CONVINENT to just
swipe your card at every place. But if you do not follow the
MOST IMPORTANT and cardinal
rule of credit cards, then you will end up owing way
more than you ever realized. And what is that cardinal rule Justin? PAY OFF THE ENTIRE BALANCE OF
YOUR CREDIT CARD BEFORE IT IS DUE! If you do not, no matter what I mention
here about special perks,
are really gonna matter. Mistake number two: SIGNING
UP FOR RETAIL CARDS. These cards might as well have a “I GOT
YOU!” in 96 bolded font on the front of them. I cannot tell you how many times I’ve
been standing in line in some retail store and seeing someone get rung up for their
$50 left sock, that doesn’t even come with the right sock. I’m standing in line
listening and then the cashier says, “Would you like to save 10% on your
purchase today by signing up for a store credit card?” I am SCREAMING in my
head at this guy, “PLEASE DON’T DO IT!” “PLASE DON’T DO IT!”. And then
he says, “Sure, it won’t hurt. I can save a couple bucks
anyways.” I am not sure about you, but every time I have said it will
not hurt, It hurts. And most times it’s hurt way more, either
financially or physically, than I could have ever imagine. Please note that this guy just opened up
one of the MOST predatory lending cards out there just to save a couple pennies. Just like you wouldn’t marry and have
kids with the first person you see walking down the street. So then why would you sign up for retail
credit cards with insane interest rates and horrible rewards just to
save $2 on your left sock? So those are the top two mistakes
that I see that you need to avoid. So that’s great Justin, but tell me, How do I increase my credit score
using credit cards the right way? There are five ways that you can do this
and a sixth bonus if you stick around. Number one” PAY OFF YOUR CREDIT
CARD COMPLETELY WITHOUT FAIL! If you do not have it set up already on
auto pay, do it now. Pause this video, do it right now as it should take
less than five minutes to do so. You can do this either via their website
or just a simple phone call using the phone number usually located on the
back of the credit card. Number two: GET YOUR FEES ON YOUR CREDIT CARD WAIVED! I will go over this in the next
video of how to get this done, but this can be an amazing way
to optimize your credit card. All you have to do is simply call the
number on the back of the credit card and asked them to remove the fees, such as a
service charge or some type of annual type fee. And again, in the next video I will go very
deeply on exactly how I do this, a word for word script. Number
three: NEGOTIATE A LOWER APR! This is how the credit card company makes
the majority of their money and how we get screwed over by not
paying it off fully. The average rate is an astonishing 15
to 25%. So let me ask you this question: If your stock investments, right now,
would guarantee you a return of 25% on average every single year
without fail, would you be happy? Then pay off the credit
card monthly! Number four: KEEP YOUR MAIN CARDS FOR A
LONG TIME AND KEEP THEM ACTIVE! Creditors love to see credit
history on your credit report, which means the longer you have a
credit card, the better it is for you. I have an old credit card that I simply
just used to pay my Netflix. That’s it. $10 every single month.
That’s it. It doesn’t have great rewards,
but it is my longest account. on my credit report so I’m going
to keep it. The main point for this is you’ve
got to KEEP IT ACTIVE! Even if it’s a $10 charge monthly,
for something like Netflix, pay it off. Keep it active every single month
and you’ll be good. Point number five: GET MORE CREDIT! Now, I was
hesitant and putting this one on, but I believe in you and know that
you’ll pay off your credit cards every single month before the
due date, completely, without fail. As I mentioned in a previous
video, link right up here, I talked about something
called Credit Utilization Rate.” I go more into detail on a previous video, so make sure you check that
out after this one is done. Basically the more credit you have
available compared to what you owe, this little gap in the middle, is
called credit utilization. The bigger gap that you have, the better it is for your credit, or the
lower credit utilization rate you have, the better. And the sixth, thank you for
sticking around, is USE THE SECRET PERKS ON YOUR CREDIT CARDS that they
don’t advertise freely. There are many ways to
find out about this perk, such as reading the black and white
details on the rewards portion of your credit card and not just what is bolded
on their front page of their website or what you get in the mouth. And now
look, I’m guilty of this as well. I don’t like to read all the black and
white until I found out these perks. And now I do. You can also find out about the secret
perks by calling the credit card company if you don’t want to read the 15 pages
of black and white just about rewards. Some of the things they might
include is car rental, insurance, trip cancellation protection, and even doubling your
existing warranties, which I will go more into detail on the
next video on Friday in my series “WHAT THE….FINANCE FRIDAY’s!” So I hope this video has helped you
understand of how you can use credit cards to start your credit and even build on
your current credit score. And if it did, can you help me out and SMASH THAT
LIKE BUTTON below and leave a COMMENT? Now it’s time for the QUESTION OF THE DAY. What was the biggest mistake that you
made in dealing with credit cards? Please leave your answer in the comments
below as I would love to connect with you. Be on the lookout for the next video in
my series called “WHAT THE…FINANCE FRIDAY’s” as I will be discussing the
SEVEN COMMANDMENTS OF CREDIT
CARDS and had to beat the credit card companies
at their own game. Thank you for being part of the community
and I’ll see you on the next video.

3 thoughts on “How to INCREASE my FICO Credit Score Using CREDIT CARDS | CREDIT HACKS

  1. I really hope you learned something valuable in this video. What was your biggest mistake you made in dealing with credit cards?

  2. Love the new series name 😂 def heading over the look at the perks for my credit cards that I probably overlooked.

  3. It really is so simple but so easy to forget about credit…and Dave Ramsey has good stuff but disagree with his credit card ideas. Marc Cuban is a joke with that statement!

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