Latest / Earn Your Leisure / EYL #272 Everything You Need to Know About Credit: Build Credit, Credit Cards, Child Credit & Business Credit

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EYL #272 Everything You Need to Know About Credit: Build Credit, Credit Cards, Child Credit & Business Credit · Earn Your Leisure

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  Speaker 4: See you there, all right, guys, welcome back, yeah L
• 1:57
  Speaker 4: back home. So yeah, this is gonna be a very
• 1:59
  Speaker 4: important episode, something that we always have to cover periodically,
• 2:04
  Speaker 4: credit very important topic when you talk about finance, financial
• 2:08
  Speaker 4: literacy and business. And Sean da Martin is somebody that
• 2:11
  Speaker 4: we actually had on a few of our events but
• 2:15
  Speaker 4: never had an interview. We had an event in Oakland
• 2:17
  Speaker 4: with Chase a few years ago. Did that that was
• 2:20
  Speaker 4: and then invest Fest yep, we did invest Fest.
• 2:23
  Speaker 2: Twice, right, did invest Fest twice and we went to.
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  Speaker 7: Howard and Howard So this is home team. Yeah, this
• 2:31
  Speaker 7: home team.
• 2:32
  Speaker 4: Yeah. Yeah. So she's been on the road with us,
• 2:35
  Speaker 4: but like I said, we haven't actually been able to
• 2:37
  Speaker 4: have a formal conversation. I know a lot of people
• 2:39
  Speaker 4: come to the events, but there's probably gonna be more
• 2:41
  Speaker 4: people that actually get a chance to view it in
• 2:43
  Speaker 4: this capacity through audio, YouTube, and you know, social media.
• 2:50
  Speaker 4: So yeah, first and foremost, thank you for joining us.
• 2:53
  Speaker 4: Appreciate it, thank you, thank you for having me for sure.
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  Speaker 4: So you're a credit educator. I know you're the owner
• 2:58
  Speaker 4: of your company which is rolled to seven fifty yes,
• 3:02
  Speaker 4: and credit Academy. So first, you know, obviously we got
• 3:05
  Speaker 4: a lot of questions about credit, But how did this
• 3:09
  Speaker 4: start for you? Because there's a lot of people that
• 3:11
  Speaker 4: you know, say that they do credit and stuff like that.
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  Speaker 4: But how did your journey end up to where you
• 3:16
  Speaker 4: are now?
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  Speaker 2: Yeah, so it kind of happened by accident. Like literally, I.
• 3:20
  Speaker 9: Was in college and I that was the first time
• 3:24
  Speaker 9: I realized I did not have good credit. I tried
• 3:26
  Speaker 9: to get a car. They wanted me to finance it
• 3:28
  Speaker 9: at like twenty eight percent. I took it because I
• 3:31
  Speaker 9: didn't even I didn't even yeah, because I didn't grow
• 3:33
  Speaker 9: up learning about credit or knowing about credit.
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  Speaker 2: It wasn't a thing.
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  Speaker 9: So by the time I realized I had bad credit,
• 3:38
  Speaker 9: it was too late. I was already made contracts. So
• 3:41
  Speaker 9: when I, you know, went to renew my car, they
• 3:44
  Speaker 9: told me, you know, hey, you can't you you're gonna
• 3:46
  Speaker 9: take negative equity into your new loan. You need to
• 3:49
  Speaker 9: fix your credit. And I just went home and I
• 3:52
  Speaker 9: just started researching it. So as I began to like
• 3:55
  Speaker 9: fix my own credit, repair it and like build, I
• 4:00
  Speaker 9: started like telling my family and friends about it, like
• 4:02
  Speaker 9: things to do, things that were working for me. And
• 4:04
  Speaker 9: it started with me starting a Facebook group with like
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  Speaker 9: ten people just for my family and friends, and that
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  Speaker 9: ended up that group now has over like six hundred
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  Speaker 9: thousand people. But it started just in that group me
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  Speaker 9: thinking I'm sharing credit information with family and friends.
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  Speaker 2: And I ended up going.
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  Speaker 9: To school for changing my major, switching my major studying it,
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  Speaker 9: getting certified, getting board certified, and it kind of just
• 4:27
  Speaker 9: happened like that. I started trying to fix my own
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  Speaker 9: and then I just like became obsessed and fell in
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  Speaker 9: love with credits.
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  Speaker 7: Twenty eight percent is were you aware? That's your credit.
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  Speaker 5: I mean, obviously it was a surprise to you, But
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  Speaker 5: what were the things that you were doing looking back
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  Speaker 5: that were negatively affecting your credit.
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  Speaker 9: I think my biggest thing was I wasn't I hadn't
• 4:47
  Speaker 9: built credit at that point, like it was it was.
• 4:49
  Speaker 9: I was always taught no credit cards, cash by everything.
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  Speaker 9: If you if you don't have the money for it,
• 4:53
  Speaker 9: you can't afford it. Now I know that, of course
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  Speaker 9: it's not true. But living that way, you know, caused
• 4:59
  Speaker 9: me to and I have credit. And then the credit
• 5:01
  Speaker 9: that I did have, I had like a few collections,
• 5:03
  Speaker 9: just low level like T mobile phone bills and stuff
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  Speaker 9: like that. But yeah, so I had no credit and
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  Speaker 9: the on top of that, I had a few bad accounts.
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  Speaker 4: Got Yeah, So okay, so when did you start teaching credit?
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  Speaker 9: So it started, like I said, with just teaching sharing
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  Speaker 9: information I would say with my family and friends. I
• 5:20
  Speaker 9: didn't start officially teaching it until I got certified. So
• 5:24
  Speaker 9: I was certified through FIKOH and then I went to
• 5:27
  Speaker 9: get board certified as a credit educator. And so that
• 5:30
  Speaker 9: was when I was like comfortable with sharing information.
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  Speaker 2: I'm just the type that I don't like to teach
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  Speaker 2: or educate.
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  Speaker 9: About anything that I don't feel like I'm an expert in,
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  Speaker 9: especially online because you know.
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  Speaker 2: People people people crazy.
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  Speaker 9: So yeah, I definitely after I realized like I had
• 5:46
  Speaker 9: a passion for it. I knew that this was something
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  Speaker 9: that the people that looked like me in my community.
• 5:51
  Speaker 2: I knew that this this was something that.
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  Speaker 9: They was missing, and I knew that I could explain
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  Speaker 9: it in a way that they can they would understand,
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  Speaker 9: which is what was like the driving forced me getting
• 6:00
  Speaker 9: the formal education and then like translating it to my
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  Speaker 9: audience and people that look.
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  Speaker 4: Like what certification? Yes, what is that they.
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  Speaker 2: Need the program back.
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  Speaker 9: But it was a program where you would go through
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  Speaker 9: it was eight weeks and you would literally just learn
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  Speaker 9: the ins and outs of the FYCO score, like everything,
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  Speaker 9: how every single point is allocated, how how your credit
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  Speaker 9: We had to break down a credit report.
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  Speaker 2: I'm able to.
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  Speaker 9: Look at a credit report and immediately identify any areas
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  Speaker 9: of opportunity like they teach. The FYCAL course taught you
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  Speaker 9: in a way that credit is not being taught anymore.
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  Speaker 9: It was just like diving in detail about how every
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  Speaker 9: single item affects your score. Things that will lend points
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  Speaker 9: to your score, and it just kind of took the
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  Speaker 9: mask off, I would say, of just credit score.
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  Speaker 5: When we talk about Fycle, a lot of people what's
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  Speaker 5: your fycle score? What's your credit score?
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  Speaker 4: Yes?
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  Speaker 7: How does this work?
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  Speaker 5: Because we know that this bureaus Experience, Equifax, TransUnion, and
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  Speaker 5: then this fycal are the scores from those three bureaus
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  Speaker 5: average and that becomes your fightles So how does that work?
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  Speaker 9: So the easiest way to explain it is we have
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  Speaker 9: three separate credit scores. They're assigned by TransUnion, Echofax, and Experience.
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  Speaker 9: So those are three scores that you'll you're assigned. Now
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  Speaker 9: when it comes to FYCO Score and credit score, FCO
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  Speaker 9: score is the industry standard. So like if you're purchasing
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  Speaker 9: a home, if you're buying a car, applying for a
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  Speaker 9: credit card, they're going off your FIGHTO score.
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  Speaker 2: The difference is most.
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  Speaker 9: People are only privy of their Vantage score, which is
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  Speaker 9: essentially just like a free version of FYCO Score, and
• 7:34
  Speaker 9: that is like when you have credit Karma. Most credit
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  Speaker 9: monitoring apps will give you your Advantage score as opposed
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  Speaker 9: to your FIGHTO score, which is why a lot of
• 7:41
  Speaker 9: times people will think that they know what their credit
• 7:44
  Speaker 9: score is, and they'll go apply for something and they're like, well,
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  Speaker 9: credit Karma was telling me I had a six fifty,
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  Speaker 9: but the car lot is telling me I have a
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  Speaker 9: five to forty.
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  Speaker 2: So there are three.
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  Speaker 9: Different credit scores and within to not make it complex,
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  Speaker 9: Fico has many different models, so and on what you're
• 8:00
  Speaker 9: applying for, the lender will choose a different model that
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  Speaker 9: they'll pull.
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  Speaker 7: I think I've seen that.
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  Speaker 5: So it was like, if I needed a loan, it
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  Speaker 5: was like Fyco score eight. If I needed a credit card,
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  Speaker 5: it was different bureaus inside of it. And they could
• 8:13
  Speaker 5: be similar or they could be vastly different.
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  Speaker 2: They could be vastly different.
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  Speaker 7: Yeah, they're cread differently true.
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  Speaker 9: So the ones that I like to talk about because
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  Speaker 9: I think that everyone should be aware of these different ones.
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  Speaker 9: Fyco e is the one that's used the most, so,
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  Speaker 9: especially when you're applying for credit cards, some car and
• 8:30
  Speaker 9: personal loans, they're going to use Pyco eight. When you're
• 8:33
  Speaker 9: purchasing a home, they're specifically going to use Fichos two, four,
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  Speaker 9: and five, which are known as the mortgage scores. If
• 8:40
  Speaker 9: you're purchasing a car, they're going to use your your
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  Speaker 9: FYCO five, I mean your Fyco six, which is your
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  Speaker 9: auto score. So there's those are like the three most
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  Speaker 9: used versions or widely used versions of your Fyco score.
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  Speaker 9: But the way that I teach credit you, when you
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  Speaker 9: fix your credit profile, it'll translate across all scores, which
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  Speaker 9: is why I don't necessarily like place too much emphasis
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  Speaker 9: on the different versions of your fical score, because if
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  Speaker 9: you have a healthy profile, it'll translate regardless of which
• 9:08
  Speaker 9: score is pulled.
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  Speaker 7: Keep you healthy.
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  Speaker 4: Yeah, so what factors contribute to your personal credit score?
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  Speaker 9: So credit score is your credit score is broken down
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  Speaker 9: into five categories. Right, so most people know your payment
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  Speaker 9: history is thirty five percent, your credit utilization is thirty percent,
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  Speaker 9: credit age is fifteen percent, and then hard inquiries and
• 9:29
  Speaker 9: credit mix are both ten percent. Right, So those are
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  Speaker 9: the five factors that lend to your credit scores. Now
• 9:36
  Speaker 9: they're weighted differently. So payment history is thirty or is
• 9:39
  Speaker 9: thirty five percent or worth up to one hundred.
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  Speaker 2: And ninety two point five points.
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  Speaker 9: Credit utilization is worth one hundred and sixty five points,
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  Speaker 9: credit age is worth eighty two point five points, and
• 9:50
  Speaker 9: then hard increase and credit mix are both worth fifty
• 9:53
  Speaker 9: five points each, right, So those are the separate factors.
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  Speaker 9: And when you're building your credit, if you focus on
• 9:59
  Speaker 9: those top three categories, which is credit utilization, payment history,
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  Speaker 9: and credit age, you'll have at least like a six eighty,
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  Speaker 9: six ninety, and sometimes even a seven hundred depending.
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  Speaker 4: On So can you go through each one of those
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  Speaker 4: top three like, yeah, credit utilization explained.
• 10:13
  Speaker 9: I definitely can't. So payment history is the largest factor
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  Speaker 9: in your credit score. So in layman's term, to pay
• 10:19
  Speaker 9: your bills on time if you cannot make a payment
• 10:23
  Speaker 9: schedule and arrangement with the with your bank, because the
• 10:26
  Speaker 9: second that your bank reports a lay payment, which is
• 10:29
  Speaker 9: a payment that's thirty days past to do date, you
• 10:31
  Speaker 9: will have a lay payment. Because your payment history is
• 10:35
  Speaker 9: the largest factor. One lay payment can literally drop your
• 10:39
  Speaker 9: score up to one hundred points depending and so then
• 10:43
  Speaker 9: credit utilization, which is one that's slept on and honestly
• 10:46
  Speaker 9: it's the one to me that has the most immediate
• 10:50
  Speaker 9: impact on your score. So what I mean by that
• 10:53
  Speaker 9: is your credit utilization is pertaining to credit cards.
• 10:56
  Speaker 2: So how much you're using your credit card, how.
• 10:59
  Speaker 9: Much much, how much balance, how much of a balance
• 11:01
  Speaker 9: you carry over to the next month is going to
• 11:04
  Speaker 9: determine your utilization. Keeping that below ten percent is going
• 11:08
  Speaker 9: to do wonders for any profile. And then credit age
• 11:15
  Speaker 9: is something that when you're in the beginning of building
• 11:18
  Speaker 9: your credit, you're not really going to have any control
• 11:19
  Speaker 9: over that. As you open new accounts, close new accounts.
• 11:23
  Speaker 9: If you are repairing your credit and you're getting things deleted,
• 11:26
  Speaker 9: that also affects your credit age because it is an average.
• 11:30
  Speaker 9: So after you after you get your your basic base
• 11:34
  Speaker 9: level credit profile and we can go into that, don't
• 11:37
  Speaker 9: apply for anything for six to six to nine months,
• 11:41
  Speaker 9: and that'll that'll ai to improve.
• 11:43
  Speaker 2: In your credit age.
• 11:45
  Speaker 9: Because that's the mistake that a lot of people make
• 11:46
  Speaker 9: when they're building credit. The probably the number one mistake
• 11:50
  Speaker 9: what applying too fast, trying to build credit too fast,
• 11:54
  Speaker 9: trying to thinking that anything that they apply for and
• 11:58
  Speaker 9: get approved for it's a great thing for their credit profile.
• 12:02
  Speaker 5: To the kid that's walking on a campus right now,
• 12:06
  Speaker 5: he's walking into that cast and those companies are waiting
• 12:09
  Speaker 5: for them to give.
• 12:10
  Speaker 7: Them that five hundred dollars.
• 12:11
  Speaker 5: Cards yep, or one thousand dollars card now times two
• 12:14
  Speaker 5: thousand if they know you right, Yeah, we want to
• 12:16
  Speaker 5: make sure that they're using ten percent of that perhaps,
• 12:20
  Speaker 5: so it's.
• 12:20
  Speaker 9: Not necessarily using ten percent. So when it comes to
• 12:23
  Speaker 9: using your credit card. When it comes to using your
• 12:27
  Speaker 9: credit card, most people think that utilization depends on your usage,
• 12:30
  Speaker 9: and it doesn't.
• 12:31
  Speaker 2: It just depends on what you carry over. And I'll
• 12:33
  Speaker 2: explain it.
• 12:34
  Speaker 9: Utilization is only reported one day a month, so it's
• 12:38
  Speaker 9: on your statement day, which is the last day of
• 12:40
  Speaker 9: your billing cycle. Matter of fact, everybody who has a
• 12:43
  Speaker 9: credit card needs to look at their credit card statement
• 12:46
  Speaker 9: and find their statement date.
• 12:47
  Speaker 2: It's the last day of the billing cycle.
• 12:49
  Speaker 9: That date is so important because whatever balance that you
• 12:52
  Speaker 9: have on a credit card, that is what's going to
• 12:54
  Speaker 9: be reported to the credit bureaus and also.
• 12:56
  Speaker 2: Used as your utilization.
• 12:58
  Speaker 9: Your statement day is different from your due date, so
• 13:00
  Speaker 9: most people get confused because your due date is going
• 13:02
  Speaker 9: to be before your statement date, probably like a week
• 13:04
  Speaker 9: or two prior. So even if you pay your credit
• 13:08
  Speaker 9: card bill down to zero by your due date, if
• 13:10
  Speaker 9: that balance is not still under ten percent by your
• 13:12
  Speaker 9: statement date, then it's not going to be counted as
• 13:16
  Speaker 9: your utilization. It's not going to be reported to the
• 13:17
  Speaker 9: credit bureaus. So knowing, identifying when your statement date is,
• 13:22
  Speaker 9: and making sure that you pay your balance, pay off
• 13:24
  Speaker 9: at least ninety percent of whatever you spent during the month,
• 13:27
  Speaker 9: pay off that balance. Then you'll be good because, like,
• 13:30
  Speaker 9: if you have a five hundred dollars credit card, you
• 13:32
  Speaker 9: can use the entire five hundred dollars. You don't have
• 13:34
  Speaker 9: to stay below thirty percent or ten percent. You just
• 13:37
  Speaker 9: have to make sure you pay it back within that
• 13:38
  Speaker 9: same billing cycle, which is which is key.
• 13:42
  Speaker 4: Okay, So what are the first steps to building good
• 13:45
  Speaker 4: good credit history?
• 13:46
  Speaker 9: Okay, So the first steps I would say is, so
• 13:49
  Speaker 9: I have a basic base level credit profile recommendation for everyone. Right,
• 13:55
  Speaker 9: I say that if you are wanting to build credit,
• 13:57
  Speaker 9: but like build a healthy credit profile that will continue
• 14:02
  Speaker 9: to grow and kind of set you up to get
• 14:06
  Speaker 9: high credit offers and low interest rates and all of that.
• 14:09
  Speaker 9: The base level credit profile, everyone needs at least two
• 14:13
  Speaker 9: credit cards.
• 14:14
  Speaker 2: It needs to be at least two revolving credit.
• 14:17
  Speaker 9: Cards, right, doesn't matter, the limit, doesn't matter, if it's subprime,
• 14:20
  Speaker 9: it doesn't matter, if it's secured.
• 14:22
  Speaker 2: You can literally get two hundred dollars credit cards.
• 14:24
  Speaker 9: Right, make sure that you keep that utilization every single
• 14:29
  Speaker 9: month you keep that utilization below ten percent. Right, and
• 14:33
  Speaker 9: then because we have to hit a limit of we
• 14:36
  Speaker 9: have to hit at least four accounts. Two of them
• 14:39
  Speaker 9: will be credit cards. The third account needs to be
• 14:41
  Speaker 9: a short term astatment. A short term astobtment is just
• 14:44
  Speaker 9: any installment under thirty six months self kickoff. They are
• 14:49
  Speaker 9: every bank pretty much offers a credit builder loan, and
• 14:52
  Speaker 9: then if you can get a long term astopment, so
• 14:55
  Speaker 9: if you have a student loan, if you have a
• 14:57
  Speaker 9: car loan, if you have a mortgage, those are consider
• 15:00
  Speaker 9: long term installments. So if you already have those, you
• 15:02
  Speaker 9: don't need to apply for another one. Just focus on
• 15:05
  Speaker 9: the other three accounts and having those four accounts to
• 15:08
  Speaker 9: being credit cards to being installments short term and long term.
• 15:12
  Speaker 9: It's going to and not applying for anything else. I
• 15:15
  Speaker 9: want to be clear, do not apply for anything else
• 15:16
  Speaker 9: after you get that those those credit those accounts. Don't
• 15:20
  Speaker 9: apply for anything else for six to nine months, and
• 15:23
  Speaker 9: you should be able to get pretty much any credit card.
• 15:25
  Speaker 2: That you want.
• 15:26
  Speaker 9: Consider if you pay it on time, and you know,
• 15:28
  Speaker 9: of course, make sure you're not getting collections and other things.
• 15:32
  Speaker 9: But yeah, that's the perfect credit profile that speaks to
• 15:35
  Speaker 9: the credit scoring algorithm and will allow your credit score
• 15:39
  Speaker 9: to grow at the at the most rapid pace.
• 15:41
  Speaker 5: Would you put the buy now, pay later companies into
• 15:45
  Speaker 5: that short term right like the affirms of the world.
• 15:48
  Speaker 9: It depends, because I see a lot of those on
• 15:51
  Speaker 9: credit reports, and I'm glad you brought that up. A
• 15:53
  Speaker 9: lot of those people are getting them too often, Like
• 15:56
  Speaker 9: they'll they'll finance a two hundred dollars purchase.
• 15:59
  Speaker 2: Any under two hundred dollars just looks like a low
• 16:02
  Speaker 2: level loan. It's not.
• 16:03
  Speaker 9: It doesn't feed the algorithm of the credit scores. They
• 16:06
  Speaker 9: pretty much kind of look down on that, right, Like
• 16:09
  Speaker 9: so if you're applying for crediting and your lender sees
• 16:12
  Speaker 9: a lot of those by now paid later accounts and
• 16:16
  Speaker 9: low level is what they call low level accounts, that
• 16:19
  Speaker 9: almost regardless of what your score is, that that's almost
• 16:21
  Speaker 9: to your detriment because it looks like this person is
• 16:24
  Speaker 9: not financially stable. A lot of people don't realize that
• 16:28
  Speaker 9: their score doesn't tell like their score is just for
• 16:32
  Speaker 9: a consumer. Really when it comes to like your lenders,
• 16:35
  Speaker 9: they're looking at so much more than your score, Like
• 16:37
  Speaker 9: there are so many other determinant factors of if you're
• 16:40
  Speaker 9: going to get approved for a car, and a car
• 16:43
  Speaker 9: over your score, Like your score tells them nothing because
• 16:46
  Speaker 9: you can fossly inflate your score people by trade lines
• 16:48
  Speaker 9: all the time and things of that nature. When it
• 16:50
  Speaker 9: comes to your credit profile, doing things like that, I
• 16:53
  Speaker 9: would not recommend, not in the beginning. Not unless you
• 16:55
  Speaker 9: have an established credit profile with years of credit history.
• 16:59
  Speaker 9: Then you can kind of afford to have those accounts.
• 17:03
  Speaker 4: So okay, So what's the best ways to use credit
• 17:07
  Speaker 4: cards to improve your credit score?
• 17:09
  Speaker 9: Yeah, credit cards are my favorite because, like I said,
• 17:11
  Speaker 9: they're like the only accounts that have in immediate impact.
• 17:14
  Speaker 9: Like when you get a loan, you're not really going
• 17:16
  Speaker 9: to see you don't really see the positive benefits of
• 17:20
  Speaker 9: a loan until you're at least ninety percent done. So
• 17:23
  Speaker 9: most people will get a car loan and they're like,
• 17:25
  Speaker 9: I've been being my carond time. Why is my score
• 17:27
  Speaker 9: not increasing? Is because you're very early into that loan.
• 17:30
  Speaker 2: Right.
• 17:31
  Speaker 9: When it comes to credit cards, you can see a
• 17:34
  Speaker 9: change in your credit score within like sixty days, as
• 17:36
  Speaker 9: long as you know how to use it. And I
• 17:39
  Speaker 9: would say, how I use if we're we can just
• 17:42
  Speaker 9: use a two hundred dollars credit card. For instance, Right,
• 17:45
  Speaker 9: if you have a two hundred dollars credit card, the
• 17:47
  Speaker 9: first thing you're going to do is identify your due
• 17:49
  Speaker 9: date and your statement day.
• 17:50
  Speaker 2: Right your due date, you want.
• 17:52
  Speaker 9: To make sure that you zero I zero out my
• 17:55
  Speaker 9: balance on my du date because any balance that you
• 17:58
  Speaker 9: carry over past your due date, bank can charge you
• 18:01
  Speaker 9: interest on or will charge you interests on. So after
• 18:05
  Speaker 9: my due date passes, I wait until my statement date
• 18:09
  Speaker 9: and I make sure that my balance is whatever the
• 18:13
  Speaker 9: credit card limit is. If I have a two hundred
• 18:14
  Speaker 9: dollars credit card, I make sure my balance is below
• 18:17
  Speaker 9: twenty dollars going into that next cycle after your statement
• 18:21
  Speaker 9: day passes, rent and recycle. You can spend it or
• 18:24
  Speaker 9: you know, do whatever you please. But identifying those two dates,
• 18:27
  Speaker 9: understanding when you need to pay your credit card, understanding
• 18:30
  Speaker 9: how much you need to carry over or not will
• 18:34
  Speaker 9: will be the saving grace for credit limit increases and drun.
• 18:37
  Speaker 4: You you're supposed to pay off the full balance or
• 18:42
  Speaker 4: leave a little bit on because some people say you're
• 18:43
  Speaker 4: supposed to leave a little bit on their credit card.
• 18:45
  Speaker 9: So that's a great question and I'm glad you asked
• 18:47
  Speaker 9: that you. I pay my full balance off by my
• 18:49
  Speaker 9: due date, so I'm not charged interest. However, I do
• 18:52
  Speaker 9: carry over one to three percent on my statement date.
• 18:55
  Speaker 9: Why if you report a zero zero percent utilization sometimes
• 18:59
  Speaker 9: the algorithm career that is you don't have a credit
• 19:01
  Speaker 9: card one or contrary to popular belief, lenders don't like
• 19:05
  Speaker 9: when you don't use your credit card. I was, that's yeah,
• 19:07
  Speaker 9: like they want to see usage because that doesn't if
• 19:09
  Speaker 9: you don't if you're not using a credit card, that
• 19:11
  Speaker 9: doesn't really speak to to your your money management or
• 19:14
  Speaker 9: financial management skills. It just shows you don't use it. Right,
• 19:17
  Speaker 9: So if you leave a small balance, it shows that
• 19:20
  Speaker 9: you use it, but also shows.
• 19:21
  Speaker 2: That you pay it back.
• 19:23
  Speaker 5: I think that was that's a very common misconception, and
• 19:25
  Speaker 5: I had to realize that like I would use the card,
• 19:28
  Speaker 5: or even for the company, I would use a card,
• 19:30
  Speaker 5: pay it down on a personal level. When I did it,
• 19:33
  Speaker 5: I watched my credit card drop because it shows that
• 19:36
  Speaker 5: I had zero I'm like, wait, I thought, I'm doing
• 19:38
  Speaker 5: the right thing because I have nothing, but it shows
• 19:40
  Speaker 5: that there's zero utilization there. But let's stay on utilization.
• 19:43
  Speaker 5: When is it a good time to now ask for
• 19:45
  Speaker 5: a credit increase.
• 19:46
  Speaker 9: Oh my favorite, depending on the bank, I ask for
• 19:49
  Speaker 9: a credit limit increase every ninety one to like one
• 19:52
  Speaker 9: hundred and twenty days, like I'm getting on all of
• 19:54
  Speaker 9: my credit cards. I'm getting multiple credit limit increases a year.
• 19:58
  Speaker 9: But you have like so my sort of trick or
• 20:02
  Speaker 9: not trick. But what I advise of people is if
• 20:05
  Speaker 9: you know you have a card that can obviously grow,
• 20:08
  Speaker 9: because you have some cards that they just won't give
• 20:10
  Speaker 9: you capital, they won't give you an increase, they'll give
• 20:13
  Speaker 9: you an increase, or they may not give you increase,
• 20:15
  Speaker 9: or it'll be like very minimal. Right, So, if you're
• 20:18
  Speaker 9: dealing with like am I able to say companies names,
• 20:21
  Speaker 9: If you're dealing with what's considered the top three, which
• 20:23
  Speaker 9: is Amax Chase in city, they're going to give you
• 20:27
  Speaker 9: a credit limit increase. However, you have to make sure
• 20:30
  Speaker 9: that sixty days the sixty days prior to you to
• 20:34
  Speaker 9: until you're asking for that increase, you are feeding the algorithm.
• 20:38
  Speaker 9: Number one, make sure you have automated payment on right.
• 20:41
  Speaker 9: It could be for at least your minimum payment, like
• 20:43
  Speaker 9: it doesn't have to be your full balance. Just have
• 20:46
  Speaker 9: auto pay on because the system loves that right. Make
• 20:50
  Speaker 9: sure that you have at least two reoccurrent charges on
• 20:53
  Speaker 9: your credit card. By the way, any subscription that people
• 20:56
  Speaker 9: have this this is one thing that draws me crazy.
• 20:58
  Speaker 9: If you have Netflix, Hulu, Apple Music, in a list
• 21:03
  Speaker 9: of a host of other subscriptions that we have, make
• 21:06
  Speaker 9: sure those are on a credit card. Like there's no
• 21:08
  Speaker 9: reason why any auto any subscription should be from a
• 21:11
  Speaker 9: debit card, because that's a wasted opportunity to have reoccurring
• 21:15
  Speaker 9: charges on your credit card. Having at least two reoccurring charges,
• 21:19
  Speaker 9: having auto pay set up, making sure you do at
• 21:21
  Speaker 9: least ten transactions within that month, and also, like I said,
• 21:25
  Speaker 9: making sure you pay on time. Do that for at
• 21:27
  Speaker 9: least sixty days or two billing cycles. And then you
• 21:30
  Speaker 9: apply for an increase. But if you have a card
• 21:33
  Speaker 9: and you're not using it, you're not going to get
• 21:35
  Speaker 9: a credit limit increase, no matter regardless of how high
• 21:38
  Speaker 9: your credit score is, a lot of banks will not
• 21:41
  Speaker 9: give you the increase simply because you just don't use
• 21:43
  Speaker 9: the card enough. Because that's actually the number one reason
• 21:46
  Speaker 9: for a credit limit increase denials is low usage on
• 21:50
  Speaker 9: the card.
• 21:51
  Speaker 4: So okay, how can you avoid pitfalls with credit cards
• 21:56
  Speaker 4: because obviously a lot of people falling the issues. I
• 22:00
  Speaker 4: don't spend too much, but yeah, you know what, in
• 22:02
  Speaker 4: some ways it's like best practices as far as using
• 22:05
  Speaker 4: credit cards the right way.
• 22:06
  Speaker 2: Yes, that's a big one.
• 22:08
  Speaker 9: And to be completely honest, like I tell people, credit
• 22:12
  Speaker 9: card is not an extension of your money. It should
• 22:15
  Speaker 9: replace the money like your bank account.
• 22:17
  Speaker 8: Right.
• 22:18
  Speaker 9: So, I am a person that lives off my credit card.
• 22:20
  Speaker 9: And when I say live off my credit card, I
• 22:22
  Speaker 9: mean all of my daily expenses are anything that could
• 22:25
  Speaker 9: be on a credit card. I use my credit card
• 22:27
  Speaker 9: for because I want the points, I want the usage
• 22:30
  Speaker 9: and all of that. However, I make sure that I
• 22:32
  Speaker 9: pay it back. That's the thing. Do not spend if
• 22:35
  Speaker 9: you don't have it in your bank account or no,
• 22:36
  Speaker 9: you're not getting in your bank account within the next
• 22:39
  Speaker 9: two weeks.
• 22:39
  Speaker 2: You don't have it to spend, regardless of if it's
• 22:41
  Speaker 2: a credit card or or what.
• 22:44
  Speaker 9: The only exception is if it's like an emergency, you know,
• 22:47
  Speaker 9: like if you just can't help it, you have a
• 22:49
  Speaker 9: true emergency, not shopping or anything like that, then it's
• 22:54
  Speaker 9: really easy to manage your credit card as long as
• 22:56
  Speaker 9: you're not looking at it as if it's an extension
• 22:59
  Speaker 9: of your money, it's not. You have to pay it back,
• 23:01
  Speaker 9: and it's just like that's where checking your financial habits
• 23:05
  Speaker 9: will come into play. A lot of times people will
• 23:08
  Speaker 9: improve their credit, get access to these high limit cards
• 23:10
  Speaker 9: and then they find themselves in.
• 23:12
  Speaker 2: The whole deep because.
• 23:14
  Speaker 9: They're they can't they can't manage their money properly. They
• 23:17
  Speaker 9: go out and spend, spend, spend, and not realizing like,
• 23:20
  Speaker 9: you got to pay that back. So, yeah, you just
• 23:22
  Speaker 9: got to make sure that you're not looking at your
• 23:24
  Speaker 9: credit card limit as your money because it's not.
• 23:28
  Speaker 5: Yeah, that's often the mistake that we make, and you
• 23:31
  Speaker 5: do that at a very young age. Yeah, but there's
• 23:34
  Speaker 5: the importance of having credit at a young age. Like
• 23:36
  Speaker 5: you said, one of those factors is the credit age, right,
• 23:39
  Speaker 5: and so if we're getting credit at twenty twenty three
• 23:42
  Speaker 5: years old, we've missed some years that we actually told that.
• 23:45
  Speaker 5: So talk about the importance of establishing credit at a
• 23:47
  Speaker 5: younger age. Maybe talk about authorized users and things like that.
• 23:50
  Speaker 2: Yeah.
• 23:50
  Speaker 9: Absolutely, So for the parents out there, I recommend every
• 23:55
  Speaker 9: parent if you can, if you have a credit card
• 23:57
  Speaker 9: that you know you're not going to you know, pay
• 23:59
  Speaker 9: later or whatever, and with good history, I recommend to
• 24:02
  Speaker 9: add your child at no later than seventeen. Now, if
• 24:06
  Speaker 9: your child is eighteen, obviously you can add them, but
• 24:08
  Speaker 9: adding your child from the ages of sixteen through seventeen
• 24:13
  Speaker 9: will set them up for when they turn eighteen, they'll
• 24:16
  Speaker 9: already have an established credit profile. Most people don't realize
• 24:19
  Speaker 9: that you do not have a FYCO score just because
• 24:22
  Speaker 9: you turned eighteen. You have to have six months of
• 24:24
  Speaker 9: credit history with at least two accounts before FICO will
• 24:28
  Speaker 9: issue you a credit score. Right So, as opposed to
• 24:31
  Speaker 9: just starting at eighteen and building your own credit, if
• 24:33
  Speaker 9: you have a parent, a responsible parent that will put
• 24:36
  Speaker 9: you on their credit card prior at least six months
• 24:39
  Speaker 9: prior to your eighteenth birthday, you'll already start off a
• 24:43
  Speaker 9: little ahead of the pack, right so, as opposed to
• 24:44
  Speaker 9: getting those entry level credit cards. Sometimes you can get
• 24:47
  Speaker 9: quality offers because it's really easy to get a seven
• 24:50
  Speaker 9: hundred credit score, especially if you have no collections or
• 24:53
  Speaker 9: you haven't messed up your credit yet. It is super
• 24:55
  Speaker 9: easy to get seven hundred. So if you have the
• 24:59
  Speaker 9: opportunity to be an authorized user on a family member's card,
• 25:03
  Speaker 9: and if you share an address with them, it's better
• 25:05
  Speaker 9: because nowadays the anti abuse laws affects out affects trade lines,
• 25:11
  Speaker 9: authorized users, and so if you have the same address
• 25:14
  Speaker 9: or the same last name, you'll be more credited for
• 25:16
  Speaker 9: those accounts, right or for the yeah, for the authorized
• 25:19
  Speaker 9: user accounts setting once you turn eighteen though, because this
• 25:23
  Speaker 9: is the mistake a lot of parents make. They'll put
• 25:26
  Speaker 9: their child on their credit card at like fifteen, sixteen, whatever,
• 25:28
  Speaker 9: and then whenever they turn eighteen, the child will have
• 25:31
  Speaker 9: like a seven hundred credit score, and as opposed to
• 25:36
  Speaker 9: making the child or having the child apply for their
• 25:38
  Speaker 9: own accounts, they just kind of lian on mom's card
• 25:43
  Speaker 9: or mom's credit history and think that it's going to
• 25:46
  Speaker 9: take them far. And that's where they run into the
• 25:48
  Speaker 9: situation of having a high credit score but not a
• 25:50
  Speaker 9: lot of credit, not.
• 25:52
  Speaker 2: A worthy credit credit borrow when right.
• 25:55
  Speaker 9: So you need to make sure that when that child
• 25:57
  Speaker 9: turns it turns eighteen, like my child on their eighteenth birthday,
• 26:01
  Speaker 9: we're going to be applying for a credit card on
• 26:03
  Speaker 9: their eighteen birthday. Because the earlier, the earlier, the better.
• 26:06
  Speaker 9: Apply for a credit card. Please apply for a credit
• 26:09
  Speaker 9: card before a student loan. That's just like a side note,
• 26:13
  Speaker 9: that's one of the things, that's one of the mistakes
• 26:15
  Speaker 9: that I wish that I can catch with a lot
• 26:17
  Speaker 9: of people. Having a credit card be your first established account.
• 26:21
  Speaker 9: Your credit age is going to be reliant on that account.
• 26:25
  Speaker 9: The great thing about credit cards is they can be
• 26:26
  Speaker 9: open forever. Like there is no end date to a
• 26:29
  Speaker 9: credit card unless you choose to close the car or
• 26:32
  Speaker 9: the bank chooses to close the car. Whereas a loan,
• 26:35
  Speaker 9: every loan has a term date. Every loan will end eventually.
• 26:39
  Speaker 9: So when your credit age is based on a loan,
• 26:41
  Speaker 9: once that once that account closes, yeah, your credit age
• 26:45
  Speaker 9: is going to be affected drastically, right, So if you
• 26:47
  Speaker 9: have your first established account as a credit card, that's
• 26:50
  Speaker 9: sort of like a safety blanket for your credit age.
• 26:54
  Speaker 9: And so make sure at eighteen apply for a card.
• 26:56
  Speaker 9: It could be a it can be a secure card,
• 26:57
  Speaker 9: it can be a subprime card.
• 26:59
  Speaker 2: Whatever.
• 26:59
  Speaker 9: Apply for a credit card and then start to build
• 27:02
  Speaker 9: your own credit history because authorized users can only take
• 27:05
  Speaker 9: you so far, and not very far nowadays.
• 27:07
  Speaker 7: It's a quick file.
• 27:08
  Speaker 5: Because you did bring up closing cards and I know
• 27:09
  Speaker 5: a lot of people as they're trying to fix their
• 27:11
  Speaker 5: credit like, all right, well I pick.
• 27:12
  Speaker 7: It off, let me close it.
• 27:14
  Speaker 5: So about how that could negatively affect Well, yeah it could.
• 27:20
  Speaker 9: My rule of thumb when it comes to closing credit
• 27:22
  Speaker 9: cards is if you have if the credit card has
• 27:24
  Speaker 9: an annual fee and you're not getting any increases and
• 27:28
  Speaker 9: the it's just not worth it to keep it, there
• 27:31
  Speaker 9: will be there will come a time where you'll probably
• 27:33
  Speaker 9: want to close that card. When you close that card
• 27:36
  Speaker 9: is super important. Number one, if you are applying for anything,
• 27:39
  Speaker 9: any large purchase like a car or home within the
• 27:42
  Speaker 9: next six months, it's not the time to close that card.
• 27:44
  Speaker 2: Close it after you get your car, your home, whatever.
• 27:48
  Speaker 9: The only time I will suggest you closing the credit
• 27:50
  Speaker 9: card is if you if you know, like I said,
• 27:52
  Speaker 9: six months free of any applications, and also make sure
• 27:56
  Speaker 9: that you have another card before you close that card,
• 28:00
  Speaker 9: like do not like I see people all the time
• 28:02
  Speaker 9: like I just hate this card, I want to.
• 28:03
  Speaker 2: Close it, et cetera.
• 28:04
  Speaker 9: And it's just like that's going to do more harm
• 28:06
  Speaker 9: than good. I have a two hundred dollars Capital one
• 28:09
  Speaker 9: card that I've had since college. That card is still open.
• 28:12
  Speaker 9: I haven't gotten an increase in years. I don't even
• 28:14
  Speaker 9: care to use the card. I keep it open specifically
• 28:16
  Speaker 9: because credit age. An aged credit card is the most
• 28:20
  Speaker 9: beneficial thing that you can have on your credit report,
• 28:22
  Speaker 9: that like the most and it's one of those things
• 28:25
  Speaker 9: that's like the gift that never never stops giving. Because
• 28:29
  Speaker 9: every single three to six months that a car ages,
• 28:31
  Speaker 9: it's going to add more to your credit age and
• 28:34
  Speaker 9: also your FICO points. So keep that in mind. So
• 28:37
  Speaker 9: don't close the card unless you have to. If you
• 28:40
  Speaker 9: if you have a card that you don't use, put
• 28:42
  Speaker 9: a subscription on it. I have Netflix, like use one,
• 28:45
  Speaker 9: use pick one of your subscriptions that you probably have
• 28:48
  Speaker 9: coming out of your bank account. Assign those to each
• 28:51
  Speaker 9: of you know, each of your credit cards so that
• 28:53
  Speaker 9: it can have usage, so the bank will not close
• 28:55
  Speaker 9: it due to non usage.
• 28:58
  Speaker 4: So what about putting your child on the credit card? Yes,
• 29:01
  Speaker 4: that's up y'all.
• 29:02
  Speaker 2: Yeah for I.
• 29:03
  Speaker 9: So the one of the things that people think that
• 29:06
  Speaker 9: makes some difference is if they add their child at
• 29:08
  Speaker 9: like twelve or thirteen, that doesn't make it regardless if
• 29:11
  Speaker 9: you add your child at twelve or if you add
• 29:13
  Speaker 9: them at seventeen, it will not make a difference in
• 29:16
  Speaker 9: terms of the effect that it will have on their
• 29:18
  Speaker 9: credit reports.
• 29:18
  Speaker 2: That's a misconception.
• 29:20
  Speaker 9: However, me personally, I would suggest, like I said, adding
• 29:24
  Speaker 9: your child at like seventeen. When someone asks their child
• 29:27
  Speaker 9: at thirteen, to me, it just that's that's what seven years,
• 29:31
  Speaker 9: seven eight years until they turn eighteen, and that's a
• 29:35
  Speaker 9: lot of room. It leaves a lot of room open
• 29:36
  Speaker 9: for a mistake. What happens if you get a lay
• 29:38
  Speaker 9: payment on the card and now your child's credit will
• 29:41
  Speaker 9: be affected before they can even establish credit. So we
• 29:44
  Speaker 9: never know what can happen, right, So I just for
• 29:48
  Speaker 9: I just recommend, like I'll personally, I'm adding my children
• 29:51
  Speaker 9: at when day turn seventeen. As long as you have
• 29:53
  Speaker 9: six months before they turn eighteen, they're fine.
• 29:56
  Speaker 5: I was a beneficiary of that, so I was added
• 30:00
  Speaker 5: to my mom's I told the story before, but I
• 30:02
  Speaker 5: was added to my mom's American Express card at six seventeen.
• 30:06
  Speaker 5: And so now even when I get the cards, it'll
• 30:08
  Speaker 5: say members since eighty five, even though I was born
• 30:10
  Speaker 5: in eighty two, but my credit history goes back.
• 30:13
  Speaker 7: That far, so it's over thirty seven years.
• 30:15
  Speaker 5: So every time I get a new card, it gets
• 30:18
  Speaker 5: averaged into that, and so I think when I'll.
• 30:20
  Speaker 7: Hey, that's a blessing, it was a blessing, and that
• 30:22
  Speaker 7: it's still a blessing.
• 30:23
  Speaker 5: Actually I still have the card because I just want
• 30:25
  Speaker 5: that history because that thirty seven years plus a one
• 30:28
  Speaker 5: they averaged it makes it like sixteen years of credit age.
• 30:32
  Speaker 7: So I'm like that works perfectly.
• 30:33
  Speaker 9: In American Express is a huge relation bank, like indeed,
• 30:37
  Speaker 9: man having a long standard relationship with them, you can
• 30:40
  Speaker 9: get anything.
• 30:41
  Speaker 7: This is true.
• 30:43
  Speaker 5: We talked about the number seven hundred and it's key,
• 30:45
  Speaker 5: and I don't want people to you know, some people
• 30:47
  Speaker 5: may not have seven hundred, but it feels like that's
• 30:50
  Speaker 5: the goal. But there are people like, what are the
• 30:53
  Speaker 5: numbers that in the range that people should be trying
• 30:55
  Speaker 5: to get to seven hundred and seven to fifty?
• 30:57
  Speaker 7: I know we got some eight fifties out there.
• 31:00
  Speaker 2: Yeah.
• 31:00
  Speaker 9: So I'm a little different when it comes to credit scores, right,
• 31:04
  Speaker 9: because I know the scoring model and how much your
• 31:06
  Speaker 9: credit profile matters. Most people don't believe me when I
• 31:11
  Speaker 9: say I had over one hundred thousand dollars in credit
• 31:14
  Speaker 9: card limits before my score was seven hundred, right, And
• 31:16
  Speaker 9: it was simply because I learned how to set up
• 31:19
  Speaker 9: my credit profile, will that far past my credit score.
• 31:24
  Speaker 9: There's a lot of time there's a lot of people
• 31:25
  Speaker 9: who have over seven hundred and still can't get approved
• 31:28
  Speaker 9: for over ten thousand dollars twenty thousand dollars right because
• 31:30
  Speaker 9: their borring power does not match their score. So I
• 31:34
  Speaker 9: don't ever recommend a specific score. What I will say is,
• 31:38
  Speaker 9: like I always say, a healthy profile will translate if
• 31:42
  Speaker 9: people need to focus on their credit profile more, meaning
• 31:45
  Speaker 9: making sure you don't have any lay payments. If you
• 31:47
  Speaker 9: do have lay payments, try to rectify those. If you
• 31:51
  Speaker 9: have collections, try to try to rectify all of your
• 31:55
  Speaker 9: credit issues.
• 31:56
  Speaker 2: Make sure that you have at least.
• 31:58
  Speaker 9: Four accounts open at all times, like after you began
• 32:02
  Speaker 9: to build credit. There should never be a time where
• 32:03
  Speaker 9: your credit profile goes below three open account or goes
• 32:07
  Speaker 9: below four open accounts any time. Regardless, you can have
• 32:10
  Speaker 9: an eight hundred credit score. If you do not have
• 32:12
  Speaker 9: at least four accounts open any application that you do,
• 32:16
  Speaker 9: you're going to get what's called an empty profile penalty. Right,
• 32:20
  Speaker 9: And we don't see this as consumers. We can't see
• 32:23
  Speaker 9: this on our credit score or our credit report. However,
• 32:25
  Speaker 9: when it comes to lenders and how our credit reports
• 32:29
  Speaker 9: are assigned in how they translate over to their system,
• 32:35
  Speaker 9: if you have less than three accounts open, four accounts open,
• 32:38
  Speaker 9: then regardless of your score, you automatically penalize. You're automatically
• 32:41
  Speaker 9: moved down to a lower tier of barring power multiple
• 32:46
  Speaker 9: tiers rather, So that's going to be more important making
• 32:49
  Speaker 9: sure you're not applying for a let's just say an
• 32:54
  Speaker 9: American Express card if you have just opened up two
• 32:57
  Speaker 9: other credit cards in the last six months. Right, So
• 33:00
  Speaker 9: those are the things that speaks more to like your approval. Now,
• 33:03
  Speaker 9: when it comes to score, if I had to say,
• 33:05
  Speaker 9: I would say six eighty and above, you pretty much
• 33:09
  Speaker 9: with a healthy profile, you pretty much can get anything.
• 33:12
  Speaker 2: Six eight and it's super.
• 33:15
  Speaker 9: And the thing is, it's so and I know this
• 33:16
  Speaker 9: probably sounds far fetched to a lot of people, but
• 33:19
  Speaker 9: it's so easy to get a six eighty. Like I
• 33:21
  Speaker 9: actually tell people, if you don't have at least a
• 33:23
  Speaker 9: six fifty, then usually one or one of three things
• 33:26
  Speaker 9: are the case. You had a recent collection within eighteen months,
• 33:30
  Speaker 9: a recent aid payment within twenty four months, or you
• 33:33
  Speaker 9: have high utilization.
• 33:34
  Speaker 2: Because as long as you don't have those.
• 33:36
  Speaker 9: You at least you should at least have a six
• 33:37
  Speaker 9: fifty just in terms of how your credit scores, how
• 33:40
  Speaker 9: our credit scores are allotted.
• 33:42
  Speaker 4: So okay, so let's talk about some myths. What about
• 33:47
  Speaker 4: buying treadeline tradelines? Is that a way to improve your
• 33:51
  Speaker 4: credit score?
• 33:51
  Speaker 9: So it's a way to improve your credit score, not
• 33:54
  Speaker 9: borrowing power most of the times, like they're in two thousand,
• 33:58
  Speaker 9: I want to say no. If my memory serves correct,
• 34:02
  Speaker 9: there was something called the Anti Abuse Law that came
• 34:05
  Speaker 9: their release right pretending to fight go scores, And what
• 34:08
  Speaker 9: that is is it's because people had overdone the tradelines
• 34:13
  Speaker 9: and purchasing trade lines and trying to piggyback off other
• 34:15
  Speaker 9: people's credit history that were not like family. What happens
• 34:19
  Speaker 9: is if you do not share an address with a person.
• 34:23
  Speaker 5: This episode is brought to you by P and C Bank.
• 34:26
  Speaker 5: A lot of people think podcasts about work are boring,
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• 36:14
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 36:17
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 36:21
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 36:26
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 36:30
  Speaker 1: some of the heinous migrant criminals caught because of President
• 36:33
  Speaker 1: Donald J.
• 36:34
  Speaker 2: Trump's leadership.
• 36:35
  Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.
• 36:39
  Speaker 1: Under President Trump, attempted illegal border crossings are at the
• 36:43
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal aliens.
• 36:47
  Speaker 3: Have been arrested.
• 36:48
  Speaker 1: If you are here illegally, your next you will be
• 36:52
  Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported.
• 36:56
  Speaker 2: You will never return.
• 36:58
  Speaker 1: But if you register using our CBP home app and
• 37:01
  Speaker 1: leave now, you could be allowed to return legally. Do
• 37:04
  Speaker 1: what's right, Leave now. Under President Trump America's laws border
• 37:10
  Speaker 1: and families will.
• 37:11
  Speaker 3: Be protected sponsored by the United States Department of Homeland Security.
• 37:15
  Speaker 9: If you don't share a last name, or basically, if
• 37:17
  Speaker 9: the system thinks that this person is not related to you,
• 37:21
  Speaker 9: it'll automatically omit that card from your score.
• 37:24
  Speaker 2: You will see it on your credit report.
• 37:26
  Speaker 9: You will see you may and credit carder is probably
• 37:28
  Speaker 9: going to have you believing that your score is a
• 37:30
  Speaker 9: lot higher than it is. However, within the outroom is
• 37:34
  Speaker 9: not going to credit you for that. So I personally
• 37:37
  Speaker 9: don't buy I don't recommend buying trade lines. There's just
• 37:39
  Speaker 9: so many other things that you can do with the
• 37:41
  Speaker 9: money to build your own credit profile.
• 37:44
  Speaker 4: Okay, what about credit repair? A lot of credit repair
• 37:49
  Speaker 4: companies and different tactics. You know, some people report like fraud,
• 37:58
  Speaker 4: like ony things saying like they didn't use the card
• 38:00
  Speaker 4: for this, and that's like a way to kind of
• 38:02
  Speaker 4: get credit. So what is what's some of the myths
• 38:05
  Speaker 4: about credit repair and credit repair tactics.
• 38:08
  Speaker 9: I can go on and on about this topic because
• 38:11
  Speaker 9: I am in a credit education space, especially online. My
• 38:15
  Speaker 9: timeline is usually filled with a lot of videos about
• 38:18
  Speaker 9: credit and credit repair, specifically right when it comes to
• 38:21
  Speaker 9: credit repair.
• 38:24
  Speaker 2: Number one.
• 38:24
  Speaker 9: Let me just say this, the worst thing you can
• 38:26
  Speaker 9: do when you are challenging accounts on your credit report
• 38:29
  Speaker 9: is say that that account was not yours, This account
• 38:31
  Speaker 9: is fraud, This account does not belong to me, This
• 38:34
  Speaker 9: account belongs to X, Y, and Z. That is the
• 38:36
  Speaker 9: worst type of dispute, simply because that's the easiest thing
• 38:41
  Speaker 9: for the credit bureaus to prove. So the second that
• 38:43
  Speaker 9: they and not only that, as long as they can
• 38:45
  Speaker 9: prove if you're claiming that this account is not yours,
• 38:48
  Speaker 9: if the credit bureaus can prove that this account is
• 38:51
  Speaker 9: relevant to you, and they all they have to do
• 38:55
  Speaker 9: is match three points of information. It could be your
• 38:58
  Speaker 9: last name, your zip code, your address. As long as
• 39:02
  Speaker 9: they can match three points of information to that account,
• 39:05
  Speaker 9: not only have you ruined your chances of probably ever
• 39:07
  Speaker 9: getting that account deleted and removed, you also do not
• 39:10
  Speaker 9: have You don't have, you can't rechallenge it. Like you,
• 39:14
  Speaker 9: you remove yourself from being able to properly challenge an
• 39:17
  Speaker 9: account or challenge your credit report.
• 39:19
  Speaker 2: Because you lied, essentially right and you.
• 39:22
  Speaker 9: And also, like I said, it's just a it's a
• 39:24
  Speaker 9: very easy thing for them to prove it's not it's
• 39:26
  Speaker 9: not a I would never suggest that you challenge your
• 39:29
  Speaker 9: credit reports that way unless it's true fraud, especially because
• 39:33
  Speaker 9: there are so many other ways that you can challenge
• 39:35
  Speaker 9: it legally, ethically, and also that abides by the consumer laws,
• 39:39
  Speaker 9: and that'll that will increase your chances of actually getting
• 39:41
  Speaker 9: the account removed or fixed. Number one. Make so I
• 39:46
  Speaker 9: personally recommend because I do teach. I hate to say
• 39:50
  Speaker 9: credit repair because, like I said, I don't even like
• 39:51
  Speaker 9: the stigma attached to it. However, when it comes to
• 39:53
  Speaker 9: your credit report, I am a firm believer that you
• 39:57
  Speaker 9: you are in a consumer lass tells us this that you,
• 40:00
  Speaker 9: as a consumer, we have the right to request validation
• 40:03
  Speaker 9: for every single account on our credit report. Right now,
• 40:06
  Speaker 9: the accounts that you want to request validation from are
• 40:09
  Speaker 9: typically going to be like the negative ones. Right If
• 40:11
  Speaker 9: you have any collections, if you have charge offs, if
• 40:13
  Speaker 9: you have late payments, challenge the validity of that account.
• 40:17
  Speaker 9: Simply all you have to do is ask for an investigation.
• 40:20
  Speaker 9: That's just under six FCR six'. Eleven the first letter
• 40:24
  Speaker 9: should always, Be, Hey i'm requesting an investigation on this.
• 40:26
  Speaker 9: Account never make assumptions or accuse the company of, anything
• 40:31
  Speaker 9: especially not the first. Round, right you just simply, say,
• 40:33
  Speaker 9: HEY i want you to investigate this account and.
• 40:35
  Speaker 2: Let me know what you.
• 40:36
  Speaker 9: FIND i have a few reasons to believe this account
• 40:39
  Speaker 9: may not be all the way, Accurate so investigated for.
• 40:42
  Speaker 2: Me.
• 40:42
  Speaker 9: Right, so as opposed to saying this account is not,
• 40:44
  Speaker 9: mine all you're simply doing is making sure that it is.
• 40:49
  Speaker 9: Accurate just because an account is yours doesn't mean that
• 40:52
  Speaker 9: it can't get removed. Legally there are thirty seven other
• 40:55
  Speaker 9: things that can be wrong with this account per the
• 40:57
  Speaker 9: metro to compliancy laws in terms of credit, reporting that
• 41:01
  Speaker 9: can legally get the account, removed and even if it's your, account,
• 41:05
  Speaker 9: Right so asks for an. Investigation once that comes, back
• 41:09
  Speaker 9: and you, know the credit bureaus will typically say, like,
• 41:11
  Speaker 9: hey we investigated, it we verified.
• 41:13
  Speaker 2: It, right you just assume that they're going to do
• 41:16
  Speaker 2: that because they.
• 41:16
  Speaker 9: Do the second round should always be following up on
• 41:19
  Speaker 9: your investigation.
• 41:22
  Speaker 2: Again FCR a six.
• 41:23
  Speaker 9: Eleven section six eleven tells us that if we do
• 41:26
  Speaker 9: not agree with an investigation, request we can ask for a.
• 41:29
  Speaker 9: Reinvestigation the thing with a reinvestigation is now you can request.
• 41:34
  Speaker 9: Proof now you can Say, HEY i don't know if
• 41:36
  Speaker 9: this is all the way. Right, so as opposed to
• 41:39
  Speaker 9: you just telling me that this account is, VERIFIED i
• 41:41
  Speaker 9: need PROOF i need if it's a, COLLECTION i need
• 41:44
  Speaker 9: a letter from the original creditor that claims ownership over
• 41:48
  Speaker 9: the collection, agency that shows that they transferred that. Ownership.
• 41:52
  Speaker 9: RIGHT a lot of times collection agencies can't produce. That
• 41:55
  Speaker 9: a lot of times most ninety percent of the, time
• 41:57
  Speaker 9: collection agencies don't actually have all of the information that
• 42:01
  Speaker 9: they need to properly validate an. Account, Right so challenging
• 42:05
  Speaker 9: that aspect of it and challenging paperwork will will you
• 42:10
  Speaker 9: usually get you a deletion legally and you don't have
• 42:12
  Speaker 9: to worry, about oh my, god when is this account
• 42:15
  Speaker 9: going to come? Back or you know things like, That
• 42:17
  Speaker 9: like you don't have to worry about. That if you
• 42:18
  Speaker 9: challenge it, properly then it's.
• 42:20
  Speaker 7: Fine can we say in that, Thing, yeah for.
• 42:23
  Speaker 5: Sure it's kind of like a two part, question and
• 42:25
  Speaker 5: maybe it's a myth and you could probably debunk. It
• 42:28
  Speaker 5: but what you speaking, on if it doesn't come often
• 42:31
  Speaker 5: becomes a derogatory item on your on your.
• 42:33
  Speaker 7: Credit.
• 42:33
  Speaker 5: Right, so like we talked about late, payments we talked about,
• 42:36
  Speaker 5: collections talk about the, timeline, right because people were, like,
• 42:40
  Speaker 5: WELL i made one one late, payment but, like from
• 42:44
  Speaker 5: what my, understanding and that late payment stays on the
• 42:46
  Speaker 5: report for seven, years, right is that still?
• 42:47
  Speaker 2: True, like that's a good.
• 42:50
  Speaker 9: Question so late, payments a lay payment is going for
• 42:54
  Speaker 9: the for the life of that account on your credit.
• 42:56
  Speaker 9: Report as long as that account is on your credit,
• 42:57
  Speaker 9: report that lay payment is going to be on that.
• 43:00
  Speaker 2: Account.
• 43:01
  Speaker 9: Right, however the last three years of our credit profile
• 43:05
  Speaker 9: is what's most impactful on our credit. Scores, Right so
• 43:09
  Speaker 9: if you have a lay, payment number, one you should
• 43:11
  Speaker 9: be asking for a good will adjustment from your from
• 43:14
  Speaker 9: the company if the account is still. Open that's the first. Step,
• 43:17
  Speaker 9: hey you go directly to the. Company, HEY i made a.
• 43:19
  Speaker 9: MISTAKE i got a lay. Payment do you Can are
• 43:23
  Speaker 9: you able to forgive this lay? Payment if they forgive,
• 43:26
  Speaker 9: it then it'll be as though it never. Happened they'll
• 43:28
  Speaker 9: update the credit. Bureaus the lay payment is going to
• 43:31
  Speaker 9: be removed from your account or from your credit, report
• 43:33
  Speaker 9: and you get you'll gain all the points. Back if
• 43:36
  Speaker 9: you're in a situation where you can't get your lay payment.
• 43:39
  Speaker 2: Removed here's the.
• 43:40
  Speaker 9: Thing one lay payment equals eleven one time, payments, right
• 43:44
  Speaker 9: so to undo the impact of that one lay, payment
• 43:46
  Speaker 9: you need eleven one time payments in the same. Category
• 43:49
  Speaker 9: so if it's a lay payment on a credit, card
• 43:51
  Speaker 9: until you get eleven other one time payments on credit,
• 43:54
  Speaker 9: cards then you're not really like the points will just
• 43:57
  Speaker 9: be going the credit. Profile the damage that it does
• 43:59
  Speaker 9: to your credit profile is going to still be. Present
• 44:02
  Speaker 9: it counsels out one. Another essentially once you get eleven
• 44:06
  Speaker 9: on time, Payments so if you're a person who has
• 44:09
  Speaker 9: ten lay, payments your goal should be making sure that
• 44:13
  Speaker 9: you for the next eleven. Months so BASICALLY i just
• 44:16
  Speaker 9: say next, year hopefully no lay payments ever. Again but you,
• 44:20
  Speaker 9: know eleven on time payments counsels out one lay, payment
• 44:24
  Speaker 9: so that's.
• 44:24
  Speaker 5: Crazy so this is the other part because we talk
• 44:26
  Speaker 5: about the things that credit can, affect, right obviously your,
• 44:30
  Speaker 5: score but it could affect loans and sometimes, employment but
• 44:34
  Speaker 5: it also could affect. Relationships this is, important right because
• 44:37
  Speaker 5: you said you need to have maybe three to four
• 44:39
  Speaker 5: items on your credit, report and some people when they're in,
• 44:43
  Speaker 5: relationships we've Seen i'm going to get a car and
• 44:46
  Speaker 5: then get, approved can you co SIGN i love.
• 44:49
  Speaker 2: This, well, yeah asking a good question is this is?
• 44:52
  Speaker 7: Why, yeah we've been known to do so talk about.
• 44:56
  Speaker 7: THAT i, mean, yes co signing could be.
• 45:00
  Speaker 9: Less so one of the things THAT i do in
• 45:03
  Speaker 9: my day to day Is i'm a credit specialist specializing
• 45:07
  Speaker 9: in mortgage. Scoring, right SO i deal with a lot
• 45:09
  Speaker 9: of people who can't see the close on their, home
• 45:11
  Speaker 9: who need a few more points to get obtain a home. Loan,
• 45:15
  Speaker 9: now this is one of the things THAT i see so,
• 45:18
  Speaker 9: much and we need to change. It so when it
• 45:21
  Speaker 9: comes to married couple, spouses make sure that the accounts
• 45:27
  Speaker 9: are evenly, distributed, Right so make sure make sure that
• 45:31
  Speaker 9: one spouse does not have all of the is not
• 45:34
  Speaker 9: the primary account holder account owner of all of the,
• 45:38
  Speaker 9: accounts and then the other spouse usually like to stay
• 45:41
  Speaker 9: at home spouse is just co signed on all of the.
• 45:43
  Speaker 9: Accounts there is something within The Credit Card act of
• 45:46
  Speaker 9: two thousand and nine that says on every credit card,
• 45:49
  Speaker 9: application legally you can use what's called household. Income so
• 45:52
  Speaker 9: if you're a, spouse if you have a spouse that
• 45:54
  Speaker 9: maybe does not make a lot of money or you,
• 45:56
  Speaker 9: know stays at, home as opposed to them just being
• 45:59
  Speaker 9: a co signer authorized user on all of spouse's one.
• 46:02
  Speaker 2: Accounts they can.
• 46:03
  Speaker 9: Apply using the, income they can apply using their spouse's.
• 46:07
  Speaker 9: Income so make sure that they still have credit, cards
• 46:12
  Speaker 9: home loan or not home, loans but loans and installments
• 46:14
  Speaker 9: in their name as. Owner because when you only have
• 46:18
  Speaker 9: co signed accounts authorized user, accounts then you're never going
• 46:21
  Speaker 9: to unleash your true borring power because it's based on someone,
• 46:24
  Speaker 9: else regardless of who it. Is so make, sure, Yes
• 46:27
  Speaker 9: i'm glad you asked that, question because that man there
• 46:30
  Speaker 9: that han't so often like it'll just it'll be one
• 46:33
  Speaker 9: person has great credit and then one person has subpart
• 46:36
  Speaker 9: credit because they don't have any they haven't built any.
• 46:39
  Speaker 5: Credit, yeah and that's if you're. Married, yeah it was
• 46:42
  Speaker 5: your boyfriend and you broke.
• 46:44
  Speaker 4: Up good.
• 46:45
  Speaker 9: Luck oh well, yeah to speak on that co, Signing, no, no, no,
• 46:49
  Speaker 9: NO i won't co.
• 46:51
  Speaker 2: Sign i'm not nobody because that affects. You like if
• 46:54
  Speaker 2: you co.
• 46:55
  Speaker 9: Sign for someone and you can have amazing, credit if
• 46:59
  Speaker 9: they choose to not pay it or you, know run
• 47:02
  Speaker 9: up your, card you are responsible for that when it
• 47:04
  Speaker 9: comes to co sign and when it comes to authorized,
• 47:07
  Speaker 9: users authorized, users they don't have any legal binding to that,
• 47:11
  Speaker 9: account so they can run it, up they can spend
• 47:13
  Speaker 9: every dollar and it still is going to be your
• 47:16
  Speaker 9: fault when you co sign for someone that if that
• 47:19
  Speaker 9: account goes, derogatory it's going to affect both.
• 47:21
  Speaker 2: Persons credit report and you can't do nothing about.
• 47:24
  Speaker 4: It so what about credit? Consolidation is that always the
• 47:28
  Speaker 4: most beneficial way to kind of finish.
• 47:31
  Speaker 9: Multiple, no it's not that that chips away at your
• 47:35
  Speaker 9: credit age.
• 47:35
  Speaker 2: Drastically so.
• 47:38
  Speaker 9: Now it like when it comes to like student loans
• 47:41
  Speaker 9: and things of that, nature sometimes that it's worth, it,
• 47:44
  Speaker 9: Right but when it comes to just consolidating your everyday credit,
• 47:47
  Speaker 9: CARDS i don't always recommend, it unless like you're just
• 47:52
  Speaker 9: trying to prevent bankruptcy or something like major like. That
• 47:54
  Speaker 9: but Consolidation i'm not the biggest fan, of just because
• 47:58
  Speaker 9: it doesn't really aid to you improving your borring.
• 48:02
  Speaker 4: Power so if people will have bad credit and they're
• 48:05
  Speaker 4: trying to improve their, credit what's the steps to actually
• 48:09
  Speaker 4: go from you, know having issues bad credit to having better.
• 48:14
  Speaker 9: Credit, yes the good thing about having bad credit is
• 48:17
  Speaker 9: you have a lot of points that you can, Obtain
• 48:19
  Speaker 9: like the lower your credit score, is the more points
• 48:21
  Speaker 9: you can. Grab. Right, so my favorite thing when helping
• 48:25
  Speaker 9: someone with their credit is when they do have a
• 48:27
  Speaker 9: low credit, score because it's so easy to get those.
• 48:30
  Speaker 9: Points you just have to understand that obtaining those points
• 48:34
  Speaker 9: will not come from just repairing your credit or disputing
• 48:36
  Speaker 9: your credit. Report it's going to come from building. Credit
• 48:39
  Speaker 9: that is where the points are released. From, Right so
• 48:43
  Speaker 9: making sure if you have bad, credit if you have,
• 48:45
  Speaker 9: collections charge, offs, whatever there is no nothing that will
• 48:50
  Speaker 9: help you other than building. Credit making sure that you
• 48:53
  Speaker 9: have those those four, accounts to credit, cards to, installments
• 48:57
  Speaker 9: one short, term one long, term making sure you DO
• 49:00
  Speaker 9: i pay off that installment, early the short term installment
• 49:02
  Speaker 9: specifically because you want to build.
• 49:05
  Speaker 2: Credit. Right, also if you are.
• 49:08
  Speaker 9: If you do have, collections challenging those, right if they get, removed,
• 49:12
  Speaker 9: Great but if they do not get, removed you still
• 49:15
  Speaker 9: can have good credit with collections because the older a collection,
• 49:18
  Speaker 9: gets the less impact that it has on your. Score
• 49:20
  Speaker 9: the more credit that you've established since the collection will
• 49:26
  Speaker 9: help you sort of undo bad. Credit RIGHT i THINK i.
• 49:30
  Speaker 9: Had it was one account THAT i could not get.
• 49:33
  Speaker 9: Removed then, again that did not stop me from getting
• 49:36
  Speaker 9: credit cards or buying a home and things of that,
• 49:38
  Speaker 9: nature BECAUSE i had established credit that spoke to my financial,
• 49:44
  Speaker 9: habits my current financial habits more than those old.
• 49:47
  Speaker 2: Collections.
• 49:47
  Speaker 9: Right but, yeah so making sure you have your building,
• 49:51
  Speaker 9: credit that's what. People people will, SAY i have bad,
• 49:54
  Speaker 9: credit So i'm just not going to touch my credit
• 49:55
  Speaker 9: for seven. Years it's the worst thing you can, do
• 49:57
  Speaker 9: because that's seven years of wasted time where you can build.
• 50:00
  Speaker 9: Credit you can come back from. Collections i've Never i've,
• 50:04
  Speaker 9: never AND i have helped. Thousands i've looked at thousands
• 50:07
  Speaker 9: of credit. REPORTS i have never seen a credit report
• 50:09
  Speaker 9: that is irreparable, ever AND i didn't seen three hundred credit.
• 50:13
  Speaker 9: Scords that's the you, know that's the lowest credit score
• 50:15
  Speaker 9: you can. Get the lowest score That i've seen fightal
• 50:17
  Speaker 9: score was a three to. Eleven the lower it, no
• 50:22
  Speaker 9: it was so the lowest score you can get a three. Hundred,
• 50:24
  Speaker 9: yeah the lower.
• 50:25
  Speaker 2: Score you can get three.
• 50:25
  Speaker 9: Hundred the highest you can get this eight to. Fifty
• 50:27
  Speaker 9: i've seen a three to eleven credit. Score people think
• 50:31
  Speaker 9: that because they have bad, credit they you, know they're
• 50:33
  Speaker 9: just doomed for the next seven.
• 50:34
  Speaker 2: Years it's not.
• 50:35
  Speaker 9: True build a credit and you will get credit points
• 50:38
  Speaker 9: when you add your credit, card and the first, month
• 50:41
  Speaker 9: the first month that you get a credit, Card, please
• 50:45
  Speaker 9: everybody who's watching, this if this is your first credit,
• 50:48
  Speaker 9: card do not allow that first month to be wasted
• 50:51
  Speaker 9: on reporting a zero dollar utilization because a lot of
• 50:53
  Speaker 9: people get their credit cards and they're scared to use,
• 50:55
  Speaker 9: it so they'll just like, whatever like keep it in
• 50:58
  Speaker 9: their pocket or keep it in their. Wallet when you
• 51:00
  Speaker 9: activate that, card you typically are going to be mid,
• 51:04
  Speaker 9: cycle depending on how long your.
• 51:05
  Speaker 2: Bank took to melod to you go.
• 51:07
  Speaker 9: Get some, gas go buy some, chips go do, something
• 51:10
  Speaker 9: so that you have at least one to three percent
• 51:13
  Speaker 9: reporting that first. Time the reason why it's important the
• 51:15
  Speaker 9: first time is because when your credit card hits your
• 51:18
  Speaker 9: credit report.
• 51:18
  Speaker 2: For the first, time you open yourself up to.
• 51:21
  Speaker 9: Utilization because if you don't have any credit, cards you're
• 51:23
  Speaker 9: not getting a single point out of the one hundred
• 51:26
  Speaker 9: and sixty five points that are allotted for you credit.
• 51:28
  Speaker 9: Utilization so when you first get your credit, card make
• 51:31
  Speaker 9: sure that you report a very small a very small.
• 51:34
  Speaker 9: Balance so the second that that credit card hits your credit,
• 51:37
  Speaker 9: report which is usually like sixty days after you get,
• 51:39
  Speaker 9: it you'll see you should see a large increase in
• 51:41
  Speaker 9: your credit.
• 51:42
  Speaker 7: Score go buy your sneak as.
• 51:43
  Speaker 5: Y'all SO i wonder what your thoughts around, this because
• 51:48
  Speaker 5: we spoke about student loans a few, times AND i
• 51:51
  Speaker 5: feel like we're on.
• 51:52
  Speaker 7: The cusps of a student loan. Crisis. Right we had
• 51:55
  Speaker 7: a student loan.
• 51:56
  Speaker 5: Pause now people have to put pay, again and obviously
• 52:00
  Speaker 5: there will be the fault and it will be. Forbearans
• 52:04
  Speaker 5: but that's a trickle down, effect, right because if there's
• 52:06
  Speaker 5: a student loan, crisis that would mean that there will
• 52:08
  Speaker 5: be a credit crisis, too because that will impact people's,
• 52:11
  Speaker 5: credits and that will affect how people will be able
• 52:14
  Speaker 5: to get home, loans which will have a housing. Crisis
• 52:17
  Speaker 5: so from your, standpoint in the middle of, it right
• 52:21
  Speaker 5: with the credit, piece talk about the importance of student,
• 52:24
  Speaker 5: loans student loan and payment and what we can do
• 52:27
  Speaker 5: for that population and even that, population but. Everybody it's
• 52:31
  Speaker 5: forty million people who have student.
• 52:32
  Speaker 9: Loans, Yeah studies show, THAT i want to, say eighty
• 52:35
  Speaker 9: three percent of people have credit or have student loans
• 52:37
  Speaker 9: on their credit. Reports, Right so it basically affects all
• 52:40
  Speaker 9: of us when it comes to student.
• 52:42
  Speaker 2: LOANS i know a lot of people always, LIKE i
• 52:44
  Speaker 2: want to get my student loans. Deleted they're messing up my.
• 52:46
  Speaker 9: Credit the thing, is your student loans are actually probably
• 52:50
  Speaker 9: helping your credit way more than it's hurting. It the
• 52:52
  Speaker 9: only time it hurts it is if you have like
• 52:54
  Speaker 9: multiple L a. Payments but a student loan is like
• 52:57
  Speaker 9: one of the easiest accounts to use utilize the build
• 53:00
  Speaker 9: credit because most people are in default in, deferment are
• 53:03
  Speaker 9: not in default in deferment majority of their student loan.
• 53:06
  Speaker 2: Journey and if the.
• 53:09
  Speaker 9: Thing is your student loans are not going to be
• 53:11
  Speaker 9: reported late until you're at least ninety days. Late the
• 53:15
  Speaker 9: thing about that is ninety days late is three consecutive lay.
• 53:18
  Speaker 9: Payments so the second that you're even you even realize
• 53:22
  Speaker 9: that you are laid on your student, loans you're down
• 53:24
  Speaker 9: three lay. Payments so that that's a hard hit to
• 53:27
  Speaker 9: your credit. Score when it comes to your loan, services
• 53:30
  Speaker 9: if you contact them and work out an, agreement get on.
• 53:33
  Speaker 9: Deferment nothing's wrong with, deferment then you will avoid a lay.
• 53:36
  Speaker 9: Payment but as opposed to like paying off your student,
• 53:39
  Speaker 9: Loans i'm in a middle about that because you know
• 53:43
  Speaker 9: a part of, ME i know a lot of people
• 53:45
  Speaker 9: are upset about you, know we were promised the a
• 53:48
  Speaker 9: lot of people were banking on their student loans being
• 53:51
  Speaker 9: forgiven and all, that so they you, know didn't think
• 53:53
  Speaker 9: that they would have to pay. It but the, thing
• 53:55
  Speaker 9: if you have student loans on your credit, report make
• 53:58
  Speaker 9: sure that you are content at your servicer and getting
• 54:01
  Speaker 9: on a defartment. Plan they're not going to deny a
• 54:03
  Speaker 9: defartment legally within the next twelve months if you, requested
• 54:06
  Speaker 9: they have to give it to. You if you have
• 54:08
  Speaker 9: a federal student loan at request defartment before your account
• 54:12
  Speaker 9: goes ninety days past due actually next. Month next, month
• 54:16
  Speaker 9: a lot of, people, unfortunately will probably have lay payments
• 54:19
  Speaker 9: on a credit report because that's it's been ninety days
• 54:21
  Speaker 9: since the pause.
• 54:23
  Speaker 2: Ended so calling this month, though will prevent.
• 54:25
  Speaker 9: It like so, again if you if you have not
• 54:27
  Speaker 9: contacted your service or if they have not reached out to,
• 54:30
  Speaker 9: you make sure that you're in contact with them before
• 54:33
  Speaker 9: within Before january basically so that you can avoid that laid.
• 54:37
  Speaker 9: Payment but student loans really help because a lot of
• 54:40
  Speaker 9: people have get it student loans when they turn, eighteen
• 54:43
  Speaker 9: and you.
• 54:43
  Speaker 2: Know they'll have it.
• 54:45
  Speaker 9: Forever most, people most people have it forever and that's,
• 54:47
  Speaker 9: Fine like, you it doesn't if as long as your
• 54:50
  Speaker 9: student loans are in good, standing it won't prevent you
• 54:53
  Speaker 9: from getting.
• 54:53
  Speaker 4: Anything so let me ask you, this as far as
• 54:56
  Speaker 4: the people trying to recover from bad, credit if they're
• 55:01
  Speaker 4: overwhelmed with credit card, debt what are some? Options can
• 55:05
  Speaker 4: they call to negotiate a? Settlement can they call and
• 55:09
  Speaker 4: negotiate better? Rate obviously you know, bankruptcy but like if
• 55:12
  Speaker 4: if you're just in a situation where you just you
• 55:15
  Speaker 4: can't get it paid, down what are some options to?
• 55:19
  Speaker 9: People so when it comes to credit, cards if you
• 55:22
  Speaker 9: just can't pay it, down, well number, one you have
• 55:24
  Speaker 9: to make sure that you stop using like the, cars
• 55:26
  Speaker 9: stop you, know buying things so that you can you
• 55:30
  Speaker 9: can manage it. Properly Number, two it's so tough right
• 55:34
  Speaker 9: now because we're at we're in a we're in a
• 55:35
  Speaker 9: we're in a time where credit card interest rates are
• 55:39
  Speaker 9: the highest that they've ever been. Ever so a lot
• 55:42
  Speaker 9: of people with credit card debt is just, mounting you, know,
• 55:46
  Speaker 9: up it's just growing every single. Month so the best
• 55:50
  Speaker 9: thing you can do at this point if it's just
• 55:51
  Speaker 9: like out of your control and you do not foresee
• 55:53
  Speaker 9: yourself being able to pay that credit card down within
• 55:56
  Speaker 9: the next ninety. Days the best thing to do is
• 55:58
  Speaker 9: honestly to close that car right now so that you
• 56:01
  Speaker 9: can then work on a payment.
• 56:04
  Speaker 1: Plan.
• 56:04
  Speaker 9: Now don't close it and then forget about it and
• 56:06
  Speaker 9: not contact your. Bank, no close, it but have a
• 56:09
  Speaker 9: plan to work out either a settlement with the bank
• 56:13
  Speaker 9: or an agreement.
• 56:14
  Speaker 2: To pay it.
• 56:15
  Speaker 9: Back if you close it and do, nothing then it'll
• 56:18
  Speaker 9: probably end up a charge off within thirty or within sixty.
• 56:22
  Speaker 9: Days but closing it so that you can stop the charges,
• 56:26
  Speaker 9: temporarily stop you, know stop the interest a little, bit
• 56:29
  Speaker 9: and work on paying it. Back you, CAN i would
• 56:33
  Speaker 9: say you, can of, course you, know get another credit.
• 56:36
  Speaker 9: Card you can transfer that, balance but most most likely
• 56:39
  Speaker 9: if you are in credit card that you probably don't
• 56:41
  Speaker 9: even have the baring power to get another credit card
• 56:44
  Speaker 9: to transfer the balance to a lower interest rate. Card so,
• 56:49
  Speaker 9: yeah like you can settle with, banks and now a
• 56:52
  Speaker 9: lot of banks are there in tax time is coming,
• 56:54
  Speaker 9: up so banks settle tremendously during tax, time like they
• 56:58
  Speaker 9: bank on that. Time so now's the time to try
• 57:02
  Speaker 9: to you, know come up with a conclusion on how
• 57:05
  Speaker 9: you're going to settle your balances and you, know rectify
• 57:09
  Speaker 9: like your your. Habits but, yeah you can, settle you can't,
• 57:12
  Speaker 9: settle but you got to know that you will have
• 57:13
  Speaker 9: to pay.
• 57:14
  Speaker 7: IT i actually went through that as. Well, yeah reached
• 57:18
  Speaker 7: out to a.
• 57:19
  Speaker 5: Bank it WAS i think at one POINT i was
• 57:21
  Speaker 5: late or something MAYBE i THINK i had utilized the
• 57:24
  Speaker 5: credit card to the max AND i was, late and
• 57:26
  Speaker 5: they raised the interest rates from like nineteen. Percent this
• 57:29
  Speaker 5: was like my college credit. Card it went up to
• 57:31
  Speaker 5: twenty nine. Percent then it became just. RIDICULOUS i looked
• 57:34
  Speaker 5: at the payoff. Date it was, like it seems crazy,
• 57:36
  Speaker 5: now but it was twenty thirty five and this is
• 57:38
  Speaker 5: like the year two.
• 57:39
  Speaker 7: Thousand i'm, like, Yeah i'm, like there's no way this
• 57:42
  Speaker 7: is going to.
• 57:42
  Speaker 5: Happen so THEN i called and they consolidated it down
• 57:45
  Speaker 5: to a point WHERE i had to pay it, off
• 57:46
  Speaker 5: BUT i just had to make SURE i paid six
• 57:48
  Speaker 5: consecutive payments and seven something at the.
• 57:51
  Speaker 2: Same usually is like six to nine. Months.
• 57:52
  Speaker 5: Yeah, Yeah so when it comes to things like, that
• 57:55
  Speaker 5: when we're trying to pay off, debt because there's been
• 57:58
  Speaker 5: different strategies AND i wanted if you one DO i
• 58:01
  Speaker 5: pay the card that has the highest usage or DO
• 58:04
  Speaker 5: i pay the one that has the least. Usage SO
• 58:06
  Speaker 5: i pay that off and THEN i work my way
• 58:08
  Speaker 5: like the snowball, Effect like what's your what's your thoughts on?
• 58:10
  Speaker 2: There so that's a great.
• 58:12
  Speaker 9: QUESTION i do like the Snow so if your goal
• 58:14
  Speaker 9: is to just get rid of your credit card debt
• 58:16
  Speaker 9: and you don't really care to raise your credit score
• 58:19
  Speaker 9: at this, time if you're not trying to use your,
• 58:20
  Speaker 9: credit then the snowball effect is probably the most effect
• 58:23
  Speaker 9: of get the credit card with the highest interest, rate
• 58:25
  Speaker 9: pay it, down and then.
• 58:26
  Speaker 2: Work your way. Down.
• 58:27
  Speaker 9: Right, however if you are still trying to use your
• 58:31
  Speaker 9: credit and want to grow your credit why you are
• 58:33
  Speaker 9: paying down your, utilization THEN i personally recommend look at
• 58:38
  Speaker 9: any card that has a utilization over forty eight percent
• 58:41
  Speaker 9: tackle those. First if you can get all of your
• 58:44
  Speaker 9: cards under forty eight, percent then you don't have what's
• 58:46
  Speaker 9: called the max out penalty on your credit, score meaning
• 58:49
  Speaker 9: when you apply for, credit it's not showing that you
• 58:52
  Speaker 9: have a card that's maxed, out, right people think maxed
• 58:55
  Speaker 9: out is one hundred. Percent after forty eight, percent banks
• 58:57
  Speaker 9: are looking at you like you have a maxed out,
• 58:58
  Speaker 9: Card so get of your cards over forty eight percent
• 59:01
  Speaker 9: under forty eight. Percent then the next tier that you
• 59:04
  Speaker 9: should aim for is under thirty. Percent so once you
• 59:07
  Speaker 9: get all the cars under forty five, percent work work
• 59:10
  Speaker 9: to get them under under thirty, percent and then you
• 59:13
  Speaker 9: just work your way.
• 59:14
  Speaker 2: Down if you care about your credit.
• 59:16
  Speaker 7: Score what's the penalty at forty eight is?
• 59:17
  Speaker 2: It it's, yeah, oh points for.
• 59:19
  Speaker 9: Sure so basically depending on how many cars do you
• 59:22
  Speaker 9: any cars that you have over forty eight, percent and
• 59:24
  Speaker 9: dependent on the score that they're looking, At i'll, say,
• 59:26
  Speaker 9: Homes i'll use the mortgage. Scoring every card over forty
• 59:30
  Speaker 9: eight percent you're going to you basically should minus fifteen
• 59:34
  Speaker 9: points per card.
• 59:36
  Speaker 2: From from your.
• 59:37
  Speaker 9: Score and also if you are if you have cars
• 59:41
  Speaker 9: that are on or thirty percent to forty five or
• 59:44
  Speaker 9: thirty percent to forty seven, percent you pretty much need to.
• 59:47
  Speaker 9: Map you need to subtract about ten points per, card,
• 59:50
  Speaker 9: right mortgage. Points so so, yeah the forty eight percent
• 59:54
  Speaker 9: when it comes to credit, cards it's showing that you're maxed, out,
• 59:58
  Speaker 9: Right so get all of your cars under forty eight,
• 59:59
  Speaker 9: percent then get them under thirty, percent and then you,
• 1:00:02
  Speaker 9: know work your way down if you care about your.
• 1:00:04
  Speaker 9: Score but if you just are concerned with ridding yourself
• 1:00:07
  Speaker 9: of credit card that you, know as fast as you
• 1:00:09
  Speaker 9: can or cheap the cheapest that you, can then, yeah
• 1:00:13
  Speaker 9: the snowball effect is probably the one makes the most
• 1:00:15
  Speaker 9: sense because the interest does continue to build of course
• 1:00:18
  Speaker 9: on credit.
• 1:00:19
  Speaker 4: Cards so talk about business. Credit what's the difference between
• 1:00:23
  Speaker 4: personal credit and business credit as far as how it's
• 1:00:26
  Speaker 4: looked at for your credit score and how you get
• 1:00:28
  Speaker 4: it and stuff like.
• 1:00:29
  Speaker 9: That, yeah so most most business credit cards or loans
• 1:00:33
  Speaker 9: are not solely. Based it's not based on your personal credit.
• 1:00:36
  Speaker 9: Score it's based on like your business profile, score and
• 1:00:39
  Speaker 9: so there is a way to build your business, score
• 1:00:41
  Speaker 9: but it is different and separate from your personal credit.
• 1:00:44
  Speaker 9: Score WHAT i tell to everyone make sure BECAUSE i
• 1:00:47
  Speaker 9: find a lot of, people especially in the, industry that
• 1:00:49
  Speaker 9: will only care about their business, score but then like
• 1:00:51
  Speaker 9: just don't care about their person, score which to, me it's.
• 1:00:54
  Speaker 9: Backwards if you have a great credit score personal credit,
• 1:00:57
  Speaker 9: score then it also sets you up to have and
• 1:01:00
  Speaker 9: build great business credit. Easier like you, know you're. NOT
• 1:01:03
  Speaker 9: i have never had any of those net thirty accounts
• 1:01:05
  Speaker 9: that people RECOMMEND i. DON'T i don't deal with all of,
• 1:01:07
  Speaker 9: that BUT i do have a lot of business credit
• 1:01:10
  Speaker 9: extended to me simply by using my personal. Credit people always, say,
• 1:01:15
  Speaker 9: like you don't want TO pg your personal. CREDIT i MEAN, i,
• 1:01:18
  Speaker 9: PERSONALLY i do not subscribe to that. Theory IF i
• 1:01:21
  Speaker 9: have great personal, credit you absolutely can it CAN i
• 1:01:24
  Speaker 9: can definitely vouch for my business credit with my personal
• 1:01:28
  Speaker 9: credit Because number, one lower, Interest like if you are
• 1:01:31
  Speaker 9: just going solely off your business credit, profile you're gonna
• 1:01:33
  Speaker 9: pay higher interests for pretty much. Everything if YOU pg
• 1:01:36
  Speaker 9: it most of the cars THAT, pg you're it's lower
• 1:01:39
  Speaker 9: interest personal. Guarantee, yeah, yeah. Yeah and so also building
• 1:01:43
  Speaker 9: establishing personal relationships with, Companies like we talked About American.
• 1:01:46
  Speaker 9: Express that's the like you can get An america you
• 1:01:49
  Speaker 9: have An American express personal, Card now you can get
• 1:01:51
  Speaker 9: An American express business. Card same goes With, chase same
• 1:01:54
  Speaker 9: same goes with most of the big. Banks so, YEAH
• 1:01:58
  Speaker 9: i personally build business credit on the back of my personal.
• 1:02:01
  Speaker 9: Credit and that does not mean that they're reporting on
• 1:02:03
  Speaker 9: my personal credit. Profile it just means that once WHEN
• 1:02:06
  Speaker 9: i applied for that, account they looked at my personal
• 1:02:08
  Speaker 9: credit AND i have no problem with that because it's.
• 1:02:10
  Speaker 5: Good, Right SO i wonder from that, aspect when they
• 1:02:16
  Speaker 5: look at your personal profile and your business, profile do
• 1:02:19
  Speaker 5: inquiries work the, same BECAUSE i know a lot of
• 1:02:21
  Speaker 5: new businesses will apply for new credit, cards and so
• 1:02:24
  Speaker 5: do they looked.
• 1:02:25
  Speaker 7: At the same and are how does that? Work are they?
• 1:02:27
  Speaker 7: Negative are they derogatory if you have a certain amount
• 1:02:30
  Speaker 7: within a?
• 1:02:31
  Speaker 9: Year so are you referring to like if they do
• 1:02:32
  Speaker 9: if you DO pg it and they do run your
• 1:02:34
  Speaker 9: personal credit and it's for a business, account are you
• 1:02:37
  Speaker 9: saying does those?
• 1:02:37
  Speaker 5: EFFECTS i know IF i apply for like five credit,
• 1:02:40
  Speaker 5: cards WHICH i wouldn't be personally a personal, first, right
• 1:02:44
  Speaker 5: so ifact that would look at as too many inquiries
• 1:02:47
  Speaker 5: within a certain amount of. Time Right IF i have
• 1:02:50
  Speaker 5: a business And i'm applying for credit, cards do those
• 1:02:52
  Speaker 5: inquiries does it is it look at the?
• 1:02:54
  Speaker 9: Same, no it is it isn't looked at the same
• 1:02:56
  Speaker 9: when it comes to business because most of the, times
• 1:02:58
  Speaker 9: like the.
• 1:02:58
  Speaker 2: Funding requirements are.
• 1:03:00
  Speaker 9: Different and you, know but, however when it comes to
• 1:03:03
  Speaker 9: your personal credit credit card increase way more than installment.
• 1:03:06
  Speaker 9: Increase so if you're applying for a, car you can
• 1:03:10
  Speaker 9: apply like if you go to a car like you,
• 1:03:11
  Speaker 9: know they'll pull they'll run your credit like twenty times
• 1:03:13
  Speaker 9: for most, people if you don't come already with your,
• 1:03:15
  Speaker 9: financing those are not counted.
• 1:03:18
  Speaker 2: INDIVIDUALLY a lot of people freak out when that.
• 1:03:20
  Speaker 9: Happens but if you are doing if you're applying for
• 1:03:23
  Speaker 9: installments loans within a fourteen day, timeframe there is something
• 1:03:28
  Speaker 9: that's called, deduplication which all increase of the same manner
• 1:03:32
  Speaker 9: will Be basically you're only going to be affected at
• 1:03:36
  Speaker 9: the weight of. One you'll see all of them on
• 1:03:38
  Speaker 9: your credit, profile but they're not all individually impacting. You,
• 1:03:41
  Speaker 9: now when it comes to credit, cards they're the worst
• 1:03:43
  Speaker 9: type of increase because they every single credit card increy
• 1:03:46
  Speaker 9: does impact you the. Same BUT i, mean here's the.
• 1:03:48
  Speaker 9: Thing increies are only worth up to fifty five. Points
• 1:03:52
  Speaker 9: SO i tell people all the, time people worry about
• 1:03:55
  Speaker 9: increase more than they worry about paying, history credit, utilization
• 1:03:58
  Speaker 9: and credit. Age and it's just, like you should not
• 1:04:00
  Speaker 9: be trying to save or protect your credit increase more
• 1:04:05
  Speaker 9: than you are building, credit like because a lot of
• 1:04:07
  Speaker 9: people will not build credit because they're scared of.
• 1:04:08
  Speaker 2: Increase and it's just, like so you're going to.
• 1:04:12
  Speaker 9: You care more about ten percent of your credit profile
• 1:04:15
  Speaker 9: than collectively seventy five percent of your. Profile that doesn't make.
• 1:04:18
  Speaker 9: Sense when you're building, credit you're going to get. INCREASED
• 1:04:21
  Speaker 9: i DON'T i don't care about increase, ever because if
• 1:04:23
  Speaker 9: you have a great credit, profile they will never affect.
• 1:04:25
  Speaker 9: You there has never in the history of ever where you,
• 1:04:29
  Speaker 9: were was someone denied solely for. Increase and people convince
• 1:04:35
  Speaker 9: themselves that the increase is what caused the, Denial, like,
• 1:04:37
  Speaker 9: no you were denied because you have a lay payment OR,
• 1:04:41
  Speaker 9: X y and. Z a bank is not going to
• 1:04:44
  Speaker 9: deny you solely because of an. Increy if your credit
• 1:04:47
  Speaker 9: profile qualifies for the card or, account they will be
• 1:04:51
  Speaker 9: they would be. CRAZY a bank wants you, to you,
• 1:04:53
  Speaker 9: know of, course borrow the money from. Them and if
• 1:04:56
  Speaker 9: you are denied for an, increy you can always get a.
• 1:04:59
  Speaker 4: Reconsideration so how many credit cards should you?
• 1:05:02
  Speaker 2: Have depending on your?
• 1:05:05
  Speaker 9: Goals SO i for the everyday average, PERSON i would say,
• 1:05:10
  Speaker 9: YOU i will always recommend everyone to have an every
• 1:05:12
  Speaker 9: day credit. Card and that's just a credit card where
• 1:05:15
  Speaker 9: you put all of your everyday, expenses, food, groceries all of.
• 1:05:18
  Speaker 9: That so get a credit card hopefully that has a
• 1:05:21
  Speaker 9: aroart program set up that lends to every day living
• 1:05:25
  Speaker 9: like The City, premiere A Mix gold or something like.
• 1:05:28
  Speaker 9: That and then you should always have an emergency credit,
• 1:05:30
  Speaker 9: card so a card that you can go to for.
• 1:05:32
  Speaker 9: Emergencies you don't really spend on this card a, lot
• 1:05:35
  Speaker 9: it's solely for. Emergencies this is these are the cars
• 1:05:38
  Speaker 9: that are best for. Emergency cars are going to Be
• 1:05:40
  Speaker 9: Credit union cards because they have the lowest interest. Rates
• 1:05:44
  Speaker 9: and then you can have an you can have a
• 1:05:46
  Speaker 9: car for just like your personal spending in terms of
• 1:05:50
  Speaker 9: just like like your three to six month goals or
• 1:05:53
  Speaker 9: any large, purchases a car that, grows so you really
• 1:05:57
  Speaker 9: can get by in life with three credit. CARDS i have,
• 1:06:01
  Speaker 9: more but for the everyday Average, american like three credit
• 1:06:04
  Speaker 9: cards to me is.
• 1:06:05
  Speaker 5: Perfect so when you said, that IF i went To
• 1:06:09
  Speaker 5: creditcomer and all these other sites credit says to meet
• 1:06:12
  Speaker 5: credit dot, Com they're not gonna give me the most accurate, number,
• 1:06:15
  Speaker 5: Right they'll give me a testing is the most accurate
• 1:06:18
  Speaker 5: place to get your credit or track your cap follow
• 1:06:20
  Speaker 5: it because a lot of people would like to do.
• 1:06:23
  Speaker 7: That is? It is it myfycael dot?
• 1:06:24
  Speaker 9: Com, yes my faco or even, experience and experience is.
• 1:06:26
  Speaker 9: Cheaper shout out To. Experience they're cheaper and you get
• 1:06:29
  Speaker 9: all of Your fyco.
• 1:06:30
  Speaker 4: Scores so, yes how often should you check your?
• 1:06:33
  Speaker 9: CREDIT i, MEAN i, SO i mean you should have
• 1:06:37
  Speaker 9: credit monitoring act of you, know and there are so
• 1:06:39
  Speaker 9: many free apps you can monitor your credit based on
• 1:06:42
  Speaker 9: your vantage.
• 1:06:42
  Speaker 2: Score but if you want to know where you stand
• 1:06:44
  Speaker 2: in terms.
• 1:06:45
  Speaker 9: Of, FYCO i would say check every quarter at least
• 1:06:48
  Speaker 9: You everyone should print out or at least download their
• 1:06:52
  Speaker 9: official credit reports at least once a, year if not
• 1:06:56
  Speaker 9: every six, months and it's free if you go to
• 1:06:58
  Speaker 9: Annual credit report dot. Com it is a musk that
• 1:07:01
  Speaker 9: you know what's on your credit, profile especially if you
• 1:07:03
  Speaker 9: are trying to improve your credit or challenge your credit.
• 1:07:06
  Speaker 9: Accounts do not challenge solely off credit monitoring credit. Monitoring,
• 1:07:10
  Speaker 9: rather that's My fyco experience credit. Carmer they only really
• 1:07:14
  Speaker 9: have a history of the last two years of the.
• 1:07:16
  Speaker 9: Account there are so, like there are so many missed
• 1:07:20
  Speaker 9: opportunities that you can use to challenge that. Account if
• 1:07:23
  Speaker 9: you're challenging your, accounts that is going to be only
• 1:07:26
  Speaker 9: found on your official credit reports on not on not
• 1:07:29
  Speaker 9: on credit monitoring.
• 1:07:30
  Speaker 7: APPS i actually have a credit. Card that's the subscription
• 1:07:33
  Speaker 7: to my. Fycle oh oh.
• 1:07:35
  Speaker 2: Well that's, yeah that's.
• 1:07:35
  Speaker 9: GOOD a lot of companies now are starting to OFFER,
• 1:07:38
  Speaker 9: fio which is good because most they.
• 1:07:40
  Speaker 7: Were, yeah thirty.
• 1:07:41
  Speaker 9: Month yeah, See i'm grandfather into the twenty nine ninety nine,
• 1:07:47
  Speaker 9: plan So i'm.
• 1:07:48
  Speaker 2: Like they're up to forty now. Though, wow, YEAH i.
• 1:07:52
  Speaker 7: Can't do it.
• 1:07:55
  Speaker 4: Well wealth of, Information so talk about your business and
• 1:08:00
  Speaker 4: how you help people before we leave The.
• 1:08:03
  Speaker 9: Yeah, so roll to seven fifty is an online financial education,
• 1:08:06
  Speaker 9: Platform SO i specialize in just educating about credit and
• 1:08:10
  Speaker 9: through the education of, credit you can utilize those tools
• 1:08:13
  Speaker 9: to repair your credit and fix it ethically, legally because
• 1:08:17
  Speaker 9: that is so important to me to not get caught
• 1:08:20
  Speaker 9: up in the matrix of what credit repair has become
• 1:08:23
  Speaker 9: on social media and trying to find short term fixes
• 1:08:27
  Speaker 9: to your credit to just get a, car get a credit.
• 1:08:28
  Speaker 9: Card if you truly want quality credit and want your
• 1:08:32
  Speaker 9: credit profile that'll translate across all of your credit and fycal,
• 1:08:35
  Speaker 9: scores buy a house and all of, that then follow
• 1:08:38
  Speaker 9: me at roll to seven fifty plus On. Instagram i'm
• 1:08:41
  Speaker 9: on TikTok a all the sites AND i get free
• 1:08:46
  Speaker 9: financial education daily. Free if you want specialized help in
• 1:08:50
  Speaker 9: repairing your, credit THEN i Have Credit, academy.
• 1:08:53
  Speaker 2: Which is my, baby but it is a my membership
• 1:08:55
  Speaker 2: group THAT i.
• 1:08:55
  Speaker 9: Started it is thirty nine and none a, month and
• 1:08:58
  Speaker 9: you will not only repair your, credit but you'll also
• 1:09:02
  Speaker 9: you will also establish your credit or build your credit
• 1:09:05
  Speaker 9: or rebuild wherever you are in the. Process so we
• 1:09:09
  Speaker 9: focus on both portions of credit repair or credit, restoration
• 1:09:13
  Speaker 9: which is repairing but also, building because you can't do
• 1:09:15
  Speaker 9: one without the. Other and, yes So Credit academy is.
• 1:09:18
  Speaker 2: Available you can go to.
• 1:09:19
  Speaker 9: Road the seven fifty do net and, yes it's following
• 1:09:22
  Speaker 9: me on all. Platforms you'll see me down your. Timeline
• 1:09:24
  Speaker 9: probably there you have.
• 1:09:25
  Speaker 4: It thank you for joining, Us thank, you thank you
• 1:09:28
  Speaker 4: and for sure and thank you for again for coming
• 1:09:30
  Speaker 4: to all the. Events, YEAH i think the audience definitely
• 1:09:33
  Speaker 4: got a lot of benefit from every, time SO i
• 1:09:36
  Speaker 4: greatly appreciate. It appreciate you shouting down mea thank you.
• 1:09:39
  Speaker 4: Guys brock on to see you next.
• 1:09:40
  Speaker 1: Week an illegal alien From guatemala charged with raping a
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  Speaker 1: child In. Massachusetts AN ms thirteen gang member From El
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  Speaker 1: salvador accused of murdering A texas man Of venezuelan charged
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  Speaker 1: with filming and selling child pornography In. Michigan these are
• 1:09:58
  Speaker 1: just some of the heinous migrants criminals caught because Of
• 1:10:01
  Speaker 1: President DONALD.
• 1:10:02
  Speaker 2: J trump's.
• 1:10:03
  Speaker 1: Leadership I'm Christy, noman The United States secretary Of Homeland.
• 1:10:07
  Speaker 1: Security Under President, trump attempted illegal border crossings are at
• 1:10:11
  Speaker 1: the lowest levels ever, recorded and over one hundred thousand
• 1:10:15
  Speaker 1: illegal aliens have been. Arrested if you are here, illegally
• 1:10:19
  Speaker 1: your next you will be fine nearly one thousand dollars a,
• 1:10:22
  Speaker 1: day imprisoned and, deported you will never. Return but if
• 1:10:26
  Speaker 1: you register using OUR cbp home app and leave, now
• 1:10:30
  Speaker 1: you could be allowed to return. Legally do what's.
• 1:10:33
  Speaker 2: Right leave.
• 1:10:34
  Speaker 1: Now Under President, Trump america's, laws border and families will be.
• 1:10:39
  Speaker 3: Protected sponsored by The United States department Of Homeland.
• 1:10:42
  Speaker 4: Security