Velocity Banking With Capital One

Velocity Banking With Capital One

hello class hello everyone how you doing today shout out to all my loyal contributors thank you so much for committing to this channel helping this become a sustainable business sustainable channel helping families day in and day out wipe out all debts secure wealth leave a legacy for the family ultimately have financial freedom if you're here for the first time welcome my name is Denzel consider subscribing at the end of this video if you enjoy the content if you enjoy the value and the mission that I'm on which is to help moms all across United States and abroad become debt free help their families influence each other become leaders in the household and live the life that you were designed to live got it I also want to shout out everyone that filled out a form we're well over 220 plus forms submitted I'm still accepting forms I will serve you you just got to make a commitment that's all it takes if you want to do anything in this life successfully you got to make a commitment and that's what I'm asking you to do so in today's example we are gonna do velocity banking with Capital One okay as some of you've already known I love Capital One they're an amazing company I love their credit card offers I love the way they do business I love their locations it's like a Starbucks but better its banking and they do meetings and it's just I love what they do and my hope my manifestation is that Capital One becomes a sponsor of this channel alright I've already set it up I made a patreon on my patreon page I made a new tier and I'm just putting it there I'm like Lord I already know whether it's now two months from now three months from now three years from now I'm gonna get sponsors I already know it's it's it's there it's already happened right someone's just got a sign up that's it so let's go into the numbers we have a gentleman here income is 2000 $370 current expenses are anywhere from 1944 to about two thousand sixty five and forty four cents we have a current debt current debt to of nine thousand four hundred forty seven dollars and seventy cents not bad okay and we have a cash flow anywhere from two hundred to three hundred fifty dollars okay we are discussing velocity banking on this channel okay which is we use debt other people's money to pay our bills pay expenses acquire assets and then we use our cash from our paychecks or business income or any sort of income you then take that money and pay ourselves back and repeat got it we use other people's money to pay our bills pay expenses acquire assets the assets that produce income plus our activity income then gets used to pay us right back in the form of chunking okay in this process of using debt to pay debt we have a time period anywhere from 30 days or sometimes much longer like a year right so your percent offers right or we what I like our debt weapons that are calculated simple all right simple interests revolving debt that I can use over and over and over again the point is my capital or aka credit gets better I get access to more which allows me to make investments which allows me to pay debts at a faster rate which increases my cash flow which lowers my expenses okay now here's what we're working with this gentleman we have a Capital One Quicksilver card I'm sure it has rewards on it as Capital One is nice like that and he has a current current credit limit of three thousand on the card we owe this seven hundred fifty three dollars is what we owe we are going to make a chunk of what we owe from this money right here okay we make that money each and every month we're in the month of November so when he gets his paycheck whether he dumps this in all at once or over two times or four times right where we just divide okay we we can divide this into four chunks we can divide it into two chunks into three chunks as long as I get a VAT amount into Capital One I am happy okay that's my chunk going into the credit card got it now when this occurs I'm going to run expenses that I can pay with a credit card which in our case here came out to 628 so over the course of 30 days I'm gonna have bills that I can pay with a credit card then I'm gonna use on Capital One okay 30 days it's gonna go by a bill will get produced for this amount when that bill comes out I'm going to pay myself back what I would have paid in cash for my expenses do you understand that I hope you do and what's really cool is in one month this debt gets wiped out in that same month within 30 days from now Capital One is gonna increase his credit line 500 bucks when this occurs we're gonna call Capital One and say hey do you guys have any promotional offers available ending 0% offers for six months nine months 12 months 15 months 18 months 24 months okay what do you guys have to offer to me I would like to make a direct deposit or a transfer to take out the credit that I have and I want to get it in cash this amount right here 1730 dollars I want to do a direct deposit cash can you help me Capital One sure we can Senor not only did they raise his credit line limit in this short period of time his credit score is definitely gonna go up because he paid off the card so fast right and now we're gonna do a direct up on Joe cash of 1730 dollars to pay off three other credit cards in one month okay the cost of doing that is 3% of whatever we take out okay so one thousand seven hundred thirty dollars times three percent cost me fifty one dollars and ninety cents to do so okay now what happens is when I paid those three other credit cards my cash flow is gonna go up one hundred and twenty-one dollars okay so I'll have a net cash flow of $69 and ten cents that first month okay that first month now am I going too fast I'll slow down stay with me I'll slow it down okay recap recap we started with Capital One we chunked at it we paid it off we ran expenses we paid ourselves back we're in December okay Capital One increased my credit line I got an offer I'm going to get an offer a promotional offer so I can do a direct deposit get cash of that amount seventeen thirty it's gonna cost me three percent my cash flow is going to go up one twenty one when I pay off the other three credit cards I'm going to net sixty nine dollars ten cents plus cash flow add it to my original cash flow okay my new chunk each and every month thereafter okay is my new cashflow plus the same expense amount I still got the same expenses so 1041 is my chunk going into this new debt right 1781 1730 plus 250 190 1781 90-odd i junked 1041 my expenses are 628 that's what will go out of the credit card that I have a limit of $3,500 on okay my new cash flow is 413 okay do the math it should take me about four months or less to zero out Capital One Quicksilver how wonderful right and I pay very little an interest to do so now once that's all said and done he has officially wiped out all his credit card debt in four months the only thing we have left is a six thousand dollar debt that we have to pay off okay we cannot pay that debt with a credit card okay so we're going to a choir a line of credit oh okay we're gonna acquire ten thousand dollar line of credit do you think it's possible that this gentleman can get approved for a ten thousand dollar line of credit four months from November you think it's possible I think so if I wiped out couple G's over here alright mind you four months from now this debt will be lower okay my credit score should skyrocket I should get approved if not if all I did was get approved for like I don't know nine eight seven six K doesn't matter long as I'm able to make a chunk payment of that to wipe out the last remaining debt over here guess what happens my new I have it I have the ability now to put my entire earnings into the line of credit that's the beauty of an unsecured line of credit okay we were dealing with credit cards okay now we can pay anything with a credit card technically but it would cost me some money right to do so it didn't cost me too much then but when we start talking bigger right it'll cost me some money so to avoid that we want to transition into a new debt weapon such as a line of credit make my $6,000 chunk wipe out the other debt my cash flow goes up a hundred and seventy dollars okay now for the next ten months or less I'm going to be putting in this amount my expenses I'm running everything right through the line of credit okay doing the same system right here my new debt will my new debt is the line of credit so here's how it looks step one we make a withdrawal of six grand from the line of credit and go pay the debt cash flow goes up one seventy I then dump my income two thousand three seventy over the course of 30 days into that line of credit over the course of that same 30 days I'm going to make a with Norrell okay throughout the month totalling 1774 dollars and 44 cents yes and my cash flow of 595 56 will stay in that line of credit divided 6k by the cash flow ten months or less I'll be done which will leave me with a result of 15 months or less that I'll be completely debt-free from this okay and a very happy man I can take the woman out dancing I can sing to my woman I can praise the Heavenly Father I can do the things that I want to do I can focus my cash flow on securing wealth creating sustainable assets that will pay me forever and ever and ever for as long as I live and for long as my family lives and their family and their family oh yeah you believe me don't believe me I'll prove it to you right this man with this income there's a little business that's not a lot that's not a lot but look how we wiped out just under 10 grand in 15 months if all we did was direct our attention on what we are good at what we've been designed our spiritual talents okay we focus on that just like the Bible says the man with little grosses money too many all right I know I didn't say it right but you know best you can find the scripture for me okay but that's what it is right you start small okay and you build and you build and you build my name is Denzel hope you enjoyed this quick video on velocity banking with Capital One if you're considering starting this concept velocity banking take a look at Capital One hey if you're completely debt-free and you'd like to build your credit score take a look at Capital One if you're a young gentleman or young woman right starting out just graduated high school or college or somewhere in between and you want to start building credit because you know you're about to step into quite some bit of debt whether it's through student loans personal loans car loans mortgages that I thought I thought oh right on and on and on okay you ought to start building your credit now and you ought to start working with companies like Capital One that are awesome okay thank you so much talk to you soon god bless you have a wonderful day

23 thoughts on “Velocity Banking With Capital One

  1. The common financial advice is to keep 3-6 months worth of rent in savings. What do you think about this?

  2. I have a LOC with Wells Fargo and everyone you withdraw it is considered a cash advance and you are charged for it every time

  3. I love watching your videos! I always have to turn the volume up so loud…my only complaint! How do I join your group?

  4. Credit cards among most others compound interest. I see you mention simple interest in your video but you need to explain to people what the difference is between the two and how simple interest relates to what your discussing. To make short explanation simple interest only charges you interest on what the principle balance is as to where compound interest means you pay interest on the interest as well. I don't know of any revolving types of credit that do not compound interest. One needs to understand how much it's costing him or her to keep a balance on that CC or LOC.

  5. Kind of funny how all these velocity banking systems guys are black. This shit makes no sense. Taking a low interest loan and converting it to a higher interest loan rate is the dumbest thing to do. I think it's an IQ thing of the black race, having an average IQ of 80. How can people be this stupid????? To answer my question all u have to do is go to a predominantly black neighborhood and observe the conduct and u will be pleasantly amused. Lmfao, fucking idiots. Yea take out a higher interest rate loan and convert your lower interest rate loan to it. This shit is comical. I guess the banks are screwing themselves over with this shit???? Is this what u fucking Idiots believe. Here's the reality….. when and if u get approved for the LOC your dumbass is going to spend every penny of it on shit your dumbass didn't need but wanted and the bank knows that but u to fucking stupid to realize it and u will take it out anyway because your a fucking idiot watching these videos and worse than that believing them. Here's where your pathetic life turns bad, now u owe more than u ever did cause u took this idiotic advice and you loose your house. At this point your ganna blame Whitey cause that's who lent u the money and as usual u won't take any personal responsibility for your stupid low IQ decision making skills. That my fellow Americans is why whites will always run the world.

  6. Hey Denzel, I submitted a form but never got a reply. How do I go about getting your help?

    I get the concept but just need a little bit of guidance. I have over 10 CC I’m trying to get rid of. Thank you for your time brother.

  7. I am believing with you for that Capital One partnership. May all your goals become a reality in Jesus' name…Amen.

  8. Do I wait till the credit card is due each month to pay it all off with my income or do I pay it off before the due date

  9. My question is…as you are chunking 6k towards the debt, wouldnt it be easier to just deposit the cash flow of 595.56 rather than depositing the paycheck into the LOC, withdrawing money for expenses, leaving 595.56 in the LOC. Is that not the same result?

  10. I want to payoff my mortgage is it possible to do velocity banking with credit card balance transfers instead of taking out a heloc or a Personal line of credit? I have 17k c.c. I can do a balance transfer to my checking account paying 3% of the amount taken out and have 12months 0% APR to pay it back.

  11. Capital one told my wife they charge interest by the day of 26% plus 6 bucks… if she took an advance… have u ever heard of that?

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