aFireInside Posted October 10, 2013 Posted October 10, 2013 I have a dicover card with a credit line of $500. I always pay on time, usually i never use it but ... I think it would be usefull to start my video editing project, I want to start making money on youtube by making math videos,,, I need about $2500.. Any ideas? BTW: i always pay in full, I have 0 due
Wesley Posted October 11, 2013 Posted October 11, 2013 Important Factors in Credit Score (Somewhat Ranked): High Importance: 1. You pay on time 2. Derogatory Marks (Civil Judgments, Bankruptcy, Liens, etc) 3. Credit Card Utilization (Using a Card, but never being above about 30% of the credit line is preferred. Having a high revolving credit balance as a % of available credit affects you negatively) Medium: 4. Average age of open credit lines (Try to keep credit lines open for as long as you can and avoid closing lines to keep your score up. Companies like to know that if they extend you a line, you will be using it for a long time) Low: 5. Hard Credit Inquiries (If you are getting a lot of credit checks in a short period of time (2 years is the amount of time they are counted) then you could be acquiring lots of debt fast, or being rejected by other places. Both are less than ideal) 6. Total Number of Accounts (Even if you close a credit line, it still counts as an account that adds to your long-term credit history. Having many accounts shows a history of dealing with credit in some capacity) Thus, the best thing to do is not get hard inquiries, keep all current accounts open, avoid derrogatory marks and to pay on time every time with a credit card you use but never have a balance at the end of the month that is over 30% of the credit line. The longer that you stay like this, your credit will slowly creep up. Unfortunately, most of the things to improve credit are longer term reliability. I think the best option would be to raise money in some other way. Kickstarter, ask friends for loans, use BTCJam, or just pick up another job part time to save some money for a bit. Relying on quick changes in credit would be a difficult way to do it and you likely could save money yourself in the time it would take to get your credit score up.
Lowe D Posted October 11, 2013 Posted October 11, 2013 Call Discover and ask them to raise your limit to $2500. They will review your credit, make a decision, and then email or call you. If they can't offer you the limit you want, then they'll probably still offer you a lower one.
aFireInside Posted October 11, 2013 Author Posted October 11, 2013 Thanks that helped allot. I think im waiting on a $1000 check and from there ill figure out how to rais the next 1500
JeriLynn Posted October 12, 2013 Posted October 12, 2013 I have a dicover card with a credit line of $500. I always pay on time, usually i never use it but ... I think it would be usefull to start my video editing project, I want to start making money on youtube by making math videos,,, I need about $2500.. Any ideas? BTW: i always pay in full, I have 0 due I started off 20 years ago with a secured credit card (a debit card). After a year, I got a small cc limit which increased over time to the point where I can now borrow 50k. I borrowed 13K for a car and paid it off over 5 years. Also, I took a home loan of 7k and paid it off. In total, I paid off about 35k in cc debt. When all my debt was paid off, my score went down. The reasons my score dropped almost 100 points were twofold. First, I paid everything off and secondly, I applied for three store credit cards in a year. So don't get taken in by that discount offered on your first purchase in a store. My advice is to borrow as much as you can and make the highest monthly payments possible to reduce interest, but take a year or more to bring the debt to zero. Don't pay off your cc every month as the banks want your interest. You will trade your interest payments for a higher cc score in the long run. Lastly, don't be late ever! Send in your payment ahead of time as some banks might conveniently lose your payment so they can get the penalty fee. Only borrow what you know you can pay back. Good luck with your project.
ribuck Posted October 12, 2013 Posted October 12, 2013 ... I want to start making money on youtube by making math videos,,, I need about $2500. Why don't you start more simply? There are plenty of people making money on YouTube with the video camera in their smartphone, using free software on their PC. That way, you'll be able to get a feel for the income potential of your math videos, before you spend $2500.
aFireInside Posted October 12, 2013 Author Posted October 12, 2013 Why don't you start more simply? There are plenty of people making money on YouTube with the video camera in their smartphone, using free software on their PC. That way, you'll be able to get a feel for the income potential of your math videos, before you spend $2500. I want to be professional, and if that fails which I understand can happen I will try something else. And I did try editing on my pc but It just ends up crashing, I actually was going to do one with a white board but I just got feed-up with my computer crashing and the erasing of the white board. For example when I look at other math videos I get tired of all the bad editing and messy writing . It seems like most people don’t take the time to edit and plan what they are going to say. A channel like Kan Acadamy on YouTube makes good money, I noticed that the writing is messy and it seems unedited or live. Which in my opinion is not good for something as precise as Mathematics.. So in summation I feel like there is a market for professionally done Mathematics videos.
ribuck Posted October 12, 2013 Posted October 12, 2013 If you want to produce high quality videos, you still don't need to spend $2500. First, set up some good lighting. Bright, and somewhat diffuse. Second, make sure the sound is good. Nice and clear, without echo. Third, make sure that your visuals are simple and bold. Your formulas should be readable by someone who is watching on their phone. Fourth, write a great script. Keep it accurate, focused and interesting. Fifth, deliver it with enthusiasm. Those five things are not expensive. When you've got those things right, you can produce your first few videos. After that, the hard work begins. You need to promote your work until you have your first subscribers. Only then, when you have some subcribers, is it worth even thinking about spending big money.
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