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How Can I Rebuild My Credit After Maxing Out My Cards? · Becoming Financially Confident

• 1:20
  Have
• 1:20
  you
• 1:20
  ever
• 1:20
  opened
• 1:21
  up
• 1:21
  your
• 1:21
  credit
• 1:21
  app
• 1:21
  and
• 1:22
  your
• 1:22
  stomach
• 1:22
  just
• 1:22
  dropped
• 1:24
  because
• 1:24
  that
• 1:24
  number
• 1:24
  staring
• 1:25
  back
• 1:25
  at
• 1:25
  you
• 1:25
  is
• 1:25
  not
• 1:26
  the
• 1:26
  number
• 1:26
  it
• 1:26
  used
• 1:26
  to
• 1:26
  be?
• 1:27
  You
• 1:28
  got
• 1:28
  maxed
• 1:28
  out
• 1:29
  credit
• 1:29
  cards,
• 1:30
  high
• 1:30
  utilization,
• 1:31
  and
• 1:31
  your
• 1:31
  score
• 1:32
  is
• 1:32
  just
• 1:32
  sliding
• 1:33
  and
• 1:34
  suddenly
• 1:34
  your
• 1:34
  mind
• 1:35
  starts
• 1:35
  racing.
• 1:36
  What
• 1:37
  does
• 1:37
  this
• 1:37
  mean
• 1:37
  for
• 1:37
  my
• 1:37
  future?
• 1:39
  Will
• 1:39
  I
• 1:39
  ever
• 1:39
  qualify
• 1:40
  for
• 1:40
  a
• 1:40
  loan
• 1:41
  again?
• 1:42
  Maybe?
• 1:43
  Did
• 1:43
  I
• 1:43
  just
• 1:43
  ruin
• 1:44
  everything?
• 1:45
  Well,
• 1:46
  friend,
• 1:46
  first
• 1:46
  off,
• 1:46
  take
• 1:47
  a
• 1:47
  breath.
• 1:48
  Credit
• 1:48
  damage
• 1:49
  is
• 1:49
  not
• 1:49
  a
• 1:49
  life
• 1:50
  sentence.
• 1:51
  And
• 1:51
  today
• 1:51
  I'm
• 1:51
  going
• 1:51
  to
• 1:52
  show
• 1:52
  you
• 1:52
  exactly
• 1:52
  where
• 1:53
  to
• 1:53
  focus
• 1:53
  so
• 1:53
  you
• 1:53
  can
• 1:54
  start
• 1:54
  rebuilding
• 1:54
  this
• 1:55
  very
• 1:55
  month.
• 2:17
  Hey,
• 2:17
  friend.
• 2:18
  Ralph
• 2:18
  Estep
• 2:19
  Jr.
• 2:19
  Here.
• 2:20
  Welcome
• 2:20
  to
• 2:20
  Financially
• 2:21
  Confident
• 2:21
  Christian,
• 2:22
  the
• 2:23
  Daily
• 2:23
  show,
• 2:23
  where
• 2:23
  we
• 2:23
  work
• 2:24
  to
• 2:24
  break
• 2:24
  that
• 2:24
  cycle
• 2:25
  of
• 2:25
  financial
• 2:25
  shame
• 2:26
  and
• 2:26
  help
• 2:26
  you
• 2:26
  live
• 2:26
  in
• 2:27
  financial
• 2:27
  confidence.
• 2:29
  And
• 2:29
  today's
• 2:29
  topic
• 2:30
  is
• 2:30
  all
• 2:30
  about
• 2:30
  how
• 2:30
  to
• 2:30
  rebuild
• 2:31
  your
• 2:31
  credit
• 2:31
  after
• 2:32
  maxing
• 2:32
  out
• 2:32
  your
• 2:33
  credit
• 2:33
  cards.
• 2:34
  Well,
• 2:34
  let's
• 2:34
  get
• 2:34
  right
• 2:35
  into
• 2:35
  today's
• 2:35
  listener
• 2:36
  question.
• 2:36
  Listener
• 2:37
  writes
• 2:37
  this
• 2:37
  Ralph,
• 2:38
  high
• 2:39
  utilization
• 2:39
  destroyed
• 2:40
  my
• 2:40
  credit
• 2:41
  score
• 2:42
  and
• 2:42
  I'm
• 2:42
  panicking
• 2:42
  a
• 2:42
  little.
• 2:43
  I
• 2:43
  feel
• 2:44
  embarrassed
• 2:44
  and
• 2:44
  I
• 2:44
  don't
• 2:45
  know
• 2:45
  what
• 2:45
  this
• 2:45
  means
• 2:45
  for
• 2:46
  loans
• 2:46
  and
• 2:46
  housing
• 2:47
  and
• 2:47
  everything
• 2:47
  down
• 2:48
  the
• 2:48
  line.
• 2:49
  How
• 2:49
  do
• 2:49
  I
• 2:49
  start
• 2:50
  fixing
• 2:50
  this
• 2:50
  month
• 2:50
  without
• 2:51
  adding
• 2:51
  more
• 2:51
  debt
• 2:52
  to
• 2:52
  the
• 2:52
  problem?
• 2:53
  I
• 2:53
  need
• 2:54
  some
• 2:54
  concrete
• 2:54
  steps
• 2:55
  that'll
• 2:55
  help
• 2:55
  me
• 2:55
  rebuild,
• 2:56
  but
• 2:56
  I'm
• 2:57
  stuck
• 2:57
  and
• 2:57
  I'm
• 2:57
  unsure
• 2:58
  where
• 2:58
  to
• 2:58
  focus
• 2:58
  my
• 2:59
  energy.
• 3:00
  Now,
• 3:00
  I
• 3:01
  want
• 3:01
  to
• 3:01
  start
• 3:01
  off
• 3:01
  with
• 3:01
  a
• 3:02
  little
• 3:02
  jargon
• 3:02
  explanation.
• 3:04
  What
• 3:04
  exactly
• 3:05
  is
• 3:05
  high
• 3:06
  utilization?
• 3:07
  High
• 3:07
  utilization
• 3:08
  means
• 3:08
  this.
• 3:09
  The
• 3:09
  credit
• 3:10
  scoring
• 3:10
  companies
• 3:11
  look
• 3:11
  at
• 3:12
  your
• 3:12
  capacity
• 3:13
  to
• 3:13
  borrow.
• 3:13
  For
• 3:13
  example,
• 3:14
  let's
• 3:14
  say
• 3:14
  you
• 3:14
  have
• 3:15
  a
• 3:15
  credit
• 3:15
  card
• 3:15
  with
• 3:16
  a
• 3:16
  limit
• 3:16
  of
• 3:16
  $1,000.
• 3:18
  Well,
• 3:19
  utilization
• 3:20
  means
• 3:20
  how
• 3:20
  much
• 3:20
  of
• 3:21
  a
• 3:21
  percentage
• 3:21
  of
• 3:22
  that
• 3:22
  do
• 3:22
  you
• 3:22
  owe
• 3:23
  them?
• 3:23
  So
• 3:24
  let's
• 3:24
  just
• 3:24
  say
• 3:24
  you
• 3:24
  had
• 3:24
  $1,000
• 3:25
  credit
• 3:26
  card
• 3:26
  and
• 3:26
  you
• 3:27
  owe
• 3:27
  them
• 3:27
  $100.
• 3:29
  Then
• 3:29
  your
• 3:29
  utilization
• 3:30
  is
• 3:30
  10%.
• 3:31
  Simple
• 3:31
  math,
• 3:32
  100
• 3:33
  divided
• 3:33
  by
• 3:33
  a
• 3:34
  thousand.
• 3:34
  But
• 3:34
  here's
• 3:34
  the
• 3:34
  problem.
• 3:35
  When
• 3:36
  that
• 3:36
  number
• 3:36
  gets
• 3:36
  closer
• 3:37
  to
• 3:37
  900
• 3:38
  or
• 3:38
  950,
• 3:39
  then
• 3:40
  your
• 3:40
  utilization
• 3:41
  number
• 3:41
  is
• 3:42
  at
• 3:42
  a
• 3:42
  high
• 3:42
  number.
• 3:43
  And
• 3:44
  credit
• 3:44
  scoring
• 3:45
  companies
• 3:45
  say,
• 3:45
  oh,
• 3:46
  there's
• 3:46
  a
• 3:46
  problem
• 3:46
  here.
• 3:48
  So
• 3:48
  here's
• 3:49
  where
• 3:49
  we
• 3:49
  need
• 3:49
  to
• 3:49
  start.
• 3:50
  Your
• 3:51
  credit
• 3:51
  rebuilds
• 3:52
  fastest
• 3:52
  when
• 3:52
  you
• 3:53
  lower
• 3:53
  that
• 3:53
  utilization
• 3:54
  and
• 3:54
  protect
• 3:55
  your
• 3:55
  payment
• 3:55
  history.
• 3:56
  It's
• 3:56
  really
• 3:56
  two
• 3:56
  things
• 3:56
  that
• 3:57
  you've
• 3:57
  got
• 3:57
  to
• 3:57
  do.
• 3:58
  So
• 3:58
  how
• 3:58
  do
• 3:59
  we
• 3:59
  stop
• 3:59
  the
• 3:59
  bleeding?
• 4:00
  We
• 4:01
  got
• 4:01
  to
• 4:01
  start
• 4:01
  by
• 4:01
  doing
• 4:01
  that.
• 4:02
  Before
• 4:03
  you
• 4:03
  rebuild,
• 4:03
  you've
• 4:04
  got
• 4:04
  to
• 4:04
  stabilize.
• 4:06
  The
• 4:06
  way
• 4:06
  you
• 4:06
  stabilize
• 4:07
  is
• 4:07
  you
• 4:07
  say
• 4:07
  to
• 4:08
  yourself,
• 4:08
  look,
• 4:08
  I'm
• 4:08
  not
• 4:09
  going
• 4:09
  to
• 4:09
  put
• 4:09
  any
• 4:09
  more
• 4:09
  charges
• 4:10
  on
• 4:10
  those
• 4:11
  maxed
• 4:11
  out
• 4:11
  cards.
• 4:12
  I'm
• 4:13
  just
• 4:13
  not
• 4:13
  going
• 4:13
  to
• 4:13
  do
• 4:13
  that
• 4:14
  anymore.
• 4:14
  It's
• 4:14
  so
• 4:14
  listen,
• 4:15
  I've
• 4:15
  lived
• 4:15
  in
• 4:15
  this
• 4:16
  so
• 4:16
  many
• 4:17
  times
• 4:17
  in
• 4:17
  my
• 4:17
  life.
• 4:18
  I'll
• 4:18
  make
• 4:18
  a
• 4:19
  payment
• 4:19
  and
• 4:19
  then
• 4:20
  that
• 4:20
  afternoon
• 4:20
  I'm
• 4:21
  back
• 4:21
  putting
• 4:21
  money
• 4:21
  on
• 4:22
  that
• 4:22
  credit
• 4:22
  card
• 4:22
  again.
• 4:23
  And
• 4:23
  what
• 4:23
  happens
• 4:24
  is
• 4:24
  when
• 4:24
  you
• 4:24
  do
• 4:25
  that,
• 4:25
  your
• 4:25
  credit
• 4:26
  utilization
• 4:26
  never
• 4:27
  increases,
• 4:28
  it
• 4:28
  never
• 4:28
  improves.
• 4:30
  Now,
• 4:30
  maybe
• 4:30
  you've
• 4:30
  got
• 4:30
  to
• 4:31
  make
• 4:31
  some
• 4:31
  tough
• 4:31
  decisions
• 4:32
  right
• 4:32
  now.
• 4:33
  Maybe
• 4:33
  you've
• 4:33
  got
• 4:33
  to
• 4:33
  pause
• 4:34
  some
• 4:34
  subscriptions.
• 4:35
  Maybe
• 4:36
  you
• 4:36
  need
• 4:36
  to
• 4:36
  switch
• 4:36
  to
• 4:36
  a
• 4:37
  debit
• 4:37
  card.
• 4:37
  For
• 4:37
  right
• 4:37
  now,
• 4:38
  I'm
• 4:38
  not
• 4:38
  a
• 4:38
  big
• 4:38
  fan
• 4:38
  of
• 4:38
  debit
• 4:39
  cards
• 4:39
  because
• 4:39
  I
• 4:40
  don't
• 4:40
  like
• 4:40
  the
• 4:40
  protections
• 4:41
  they
• 4:41
  have.
• 4:42
  But
• 4:42
  if
• 4:42
  you're
• 4:42
  sitting
• 4:43
  with
• 4:43
  trying
• 4:43
  to
• 4:43
  figure
• 4:43
  out
• 4:44
  how
• 4:44
  to
• 4:44
  improve
• 4:44
  your
• 4:44
  credit
• 4:45
  score,
• 4:45
  a
• 4:45
  debit
• 4:46
  card
• 4:46
  might
• 4:46
  be
• 4:46
  the
• 4:47
  way
• 4:47
  to
• 4:47
  do
• 4:47
  it.
• 4:48
  Because
• 4:48
  credit
• 4:49
  scoring
• 4:49
  rewards
• 4:50
  restraint.
• 4:51
  It's
• 4:52
  all
• 4:52
  about.
• 4:52
  And
• 4:52
  see,
• 4:53
  you
• 4:53
  got
• 4:53
  to
• 4:53
  understand
• 4:53
  something.
• 4:54
  I
• 4:54
  lived
• 4:54
  on
• 4:54
  the
• 4:54
  other
• 4:54
  side
• 4:55
  of
• 4:55
  the
• 4:55
  table
• 4:55
  of
• 4:55
  this
• 4:55
  for
• 4:55
  a
• 4:56
  long
• 4:56
  time.
• 4:57
  I
• 4:57
  was
• 4:57
  the
• 4:57
  executive
• 4:57
  vice
• 4:58
  president
• 4:58
  of
• 4:58
  a
• 4:58
  credit
• 4:59
  union.
• 4:59
  And
• 5:00
  when
• 5:00
  someone
• 5:00
  would
• 5:00
  come
• 5:00
  in
• 5:01
  to
• 5:01
  look
• 5:01
  for
• 5:01
  a
• 5:01
  loan,
• 5:02
  I
• 5:02
  always
• 5:03
  looked
• 5:03
  at
• 5:03
  their
• 5:03
  utilization
• 5:04
  because
• 5:05
  it
• 5:05
  usually
• 5:05
  told
• 5:05
  me
• 5:06
  something
• 5:06
  about
• 5:06
  their
• 5:06
  financial
• 5:07
  situation.
• 5:08
  Well,
• 5:08
  if
• 5:08
  every
• 5:09
  new
• 5:09
  swipe
• 5:10
  is
• 5:10
  creasing
• 5:10
  that
• 5:11
  credit,
• 5:11
  you're
• 5:12
  just
• 5:12
  keeping
• 5:12
  your
• 5:12
  utilization
• 5:13
  high.
• 5:14
  So
• 5:15
  your
• 5:15
  first
• 5:15
  win
• 5:16
  is
• 5:16
  simply
• 5:17
  don't
• 5:17
  add
• 5:17
  any
• 5:18
  more
• 5:18
  damage
• 5:18
  to
• 5:18
  it.
• 5:19
  Pay
• 5:19
  with
• 5:20
  cash,
• 5:21
  pay
• 5:21
  with
• 5:21
  a
• 5:21
  debit
• 5:22
  card,
• 5:22
  or
• 5:22
  just
• 5:23
  stop
• 5:23
  spending
• 5:23
  on
• 5:24
  that
• 5:24
  credit
• 5:24
  card
• 5:25
  altogether.
• 5:26
  And
• 5:26
  then
• 5:26
  you
• 5:26
  really
• 5:27
  have
• 5:27
  to
• 5:27
  think
• 5:27
  utilization
• 5:28
  strategically.
• 5:30
  Credit
• 5:30
  scores
• 5:31
  heavily
• 5:31
  weigh
• 5:32
  this
• 5:32
  utilization.
• 5:33
  Like
• 5:33
  I
• 5:33
  said
• 5:34
  before,
• 5:34
  it's
• 5:34
  how
• 5:34
  much
• 5:34
  of
• 5:35
  your
• 5:35
  limit
• 5:35
  you're
• 5:35
  using.
• 5:37
  Another
• 5:37
  example,
• 5:37
  let's
• 5:38
  say
• 5:38
  you
• 5:38
  have
• 5:38
  a
• 5:38
  credit
• 5:38
  limit
• 5:38
  of
• 5:39
  $5,000.
• 5:40
  If
• 5:40
  you
• 5:41
  owe
• 5:41
  $4,800,
• 5:42
  that's
• 5:43
  a
• 5:43
  96%
• 5:44
  utilization
• 5:45
  rate.
• 5:46
  So
• 5:47
  your
• 5:47
  first
• 5:47
  goal
• 5:47
  is
• 5:48
  to
• 5:48
  get
• 5:48
  that
• 5:48
  below
• 5:48
  90%
• 5:50
  and
• 5:50
  then
• 5:50
  below
• 5:50
  70%.
• 5:52
  Really
• 5:52
  what
• 5:52
  they're
• 5:53
  looking
• 5:53
  for
• 5:53
  is
• 5:54
  for
• 5:54
  it
• 5:54
  to
• 5:54
  be
• 5:54
  below
• 5:55
  30%.
• 5:57
  That
• 5:57
  doesn't
• 5:57
  mean
• 5:57
  you
• 5:58
  have
• 5:58
  to
• 5:58
  pay
• 5:58
  it
• 5:58
  off
• 5:58
  all
• 5:59
  overnight.
• 5:59
  I'll
• 6:00
  tell
• 6:00
  you
• 6:00
  one
• 6:00
  thing
• 6:00
  my
• 6:00
  son
• 6:00
  does.
• 6:01
  My
• 6:01
  son
• 6:02
  uses
• 6:02
  his
• 6:02
  credit
• 6:03
  cards
• 6:03
  to
• 6:03
  the
• 6:03
  extreme.
• 6:04
  He
• 6:05
  makes
• 6:05
  payments
• 6:05
  every
• 6:06
  week.
• 6:06
  He
• 6:07
  uses
• 6:07
  the
• 6:07
  credit
• 6:08
  card
• 6:08
  to
• 6:08
  get
• 6:08
  the
• 6:08
  points,
• 6:08
  he
• 6:09
  gets
• 6:09
  the
• 6:09
  bonus
• 6:09
  miles
• 6:10
  and
• 6:10
  all
• 6:10
  those
• 6:10
  sort
• 6:10
  of
• 6:10
  things,
• 6:11
  but
• 6:11
  he
• 6:12
  never
• 6:12
  lets
• 6:12
  that
• 6:12
  utilization
• 6:13
  get
• 6:13
  high.
• 6:14
  But
• 6:14
  when
• 6:15
  you
• 6:15
  cross
• 6:15
  over
• 6:15
  those
• 6:16
  thresholds,
• 6:17
  that's
• 6:17
  when
• 6:18
  you
• 6:18
  really
• 6:18
  see
• 6:18
  your
• 6:18
  score
• 6:19
  take
• 6:19
  a
• 6:19
  hit.
• 6:20
  So
• 6:20
  even
• 6:20
  if
• 6:21
  you
• 6:21
  can
• 6:21
  reduce
• 6:21
  it
• 6:21
  from
• 6:22
  90%
• 6:22
  to
• 6:23
  50%
• 6:23
  or
• 6:24
  40%,
• 6:25
  you're
• 6:26
  going
• 6:26
  to
• 6:26
  see
• 6:26
  a
• 6:26
  huge
• 6:27
  improvement
• 6:27
  in
• 6:28
  your
• 6:28
  credit
• 6:28
  score.
• 6:29
  Here's
• 6:30
  another
• 6:30
  little
• 6:30
  quick
• 6:30
  tip.
• 6:31
  Nothing
• 6:31
  you
• 6:32
  can
• 6:32
  do
• 6:32
  to
• 6:32
  really
• 6:32
  resolve
• 6:33
  your
• 6:33
  credit
• 6:33
  issues
• 6:34
  is
• 6:34
  make
• 6:35
  payments
• 6:35
  before
• 6:35
  the
• 6:36
  statement
• 6:36
  date.
• 6:37
  Most
• 6:37
  people
• 6:38
  don't
• 6:38
  even
• 6:38
  know
• 6:38
  you
• 6:39
  can
• 6:39
  do
• 6:39
  this.
• 6:40
  Your
• 6:40
  balance
• 6:41
  is
• 6:41
  typically
• 6:41
  reported
• 6:42
  when
• 6:42
  the
• 6:42
  statement
• 6:43
  closes,
• 6:44
  not
• 6:44
  when
• 6:44
  the
• 6:44
  payment
• 6:45
  is
• 6:45
  due.
• 6:46
  So
• 6:46
  that's
• 6:46
  a
• 6:46
  little
• 6:46
  insider
• 6:47
  tip.
• 6:47
  If
• 6:47
  you
• 6:47
  see
• 6:48
  that
• 6:48
  the
• 6:48
  credit
• 6:48
  card
• 6:49
  statement
• 6:49
  closes
• 6:49
  on
• 6:50
  a
• 6:50
  particular
• 6:50
  day,
• 6:51
  make
• 6:51
  a
• 6:52
  payment
• 6:52
  before
• 6:52
  the
• 6:52
  statement
• 6:53
  closes
• 6:54
  because
• 6:54
  then
• 6:54
  you
• 6:54
  can
• 6:55
  reduce
• 6:55
  what
• 6:55
  gets
• 6:55
  reported
• 6:56
  to
• 6:56
  the
• 6:56
  credit
• 6:56
  bureaus.
• 6:57
  Most
• 6:57
  credit
• 6:58
  companies
• 6:59
  report
• 7:00
  after
• 7:00
  closing
• 7:01
  date
• 7:01
  what
• 7:02
  the
• 7:02
  balance
• 7:02
  was.
• 7:03
  So
• 7:03
  if
• 7:04
  you
• 7:04
  know
• 7:04
  your
• 7:04
  credit
• 7:04
  card
• 7:05
  closing
• 7:05
  this
• 7:06
  Friday,
• 7:07
  make
• 7:07
  a
• 7:07
  payment
• 7:07
  Wednesday
• 7:08
  because
• 7:08
  then
• 7:09
  what
• 7:09
  it'll
• 7:09
  do
• 7:09
  is
• 7:09
  it'll
• 7:10
  show
• 7:10
  that
• 7:10
  utilization
• 7:11
  percentage
• 7:11
  that
• 7:12
  as
• 7:12
  a
• 7:12
  lower
• 7:13
  number,
• 7:13
  hey
• 7:13
  listen,
• 7:14
  200,
• 7:14
  $300
• 7:15
  before
• 7:16
  reporting
• 7:16
  can
• 7:17
  lower
• 7:17
  utilization
• 7:18
  a
• 7:18
  lot.
• 7:18
  Think
• 7:19
  about
• 7:19
  that
• 7:19
  $1,000
• 7:20
  example.
• 7:21
  Let's
• 7:21
  say
• 7:21
  it's
• 7:21
  sitting
• 7:22
  at
• 7:22
  $500.
• 7:23
  Right
• 7:23
  now
• 7:23
  you're
• 7:23
  at
• 7:23
  a
• 7:24
  50%.
• 7:25
  Well,
• 7:25
  even
• 7:25
  if
• 7:25
  you
• 7:25
  make
• 7:26
  $100
• 7:27
  payment,
• 7:27
  you
• 7:28
  can
• 7:28
  reduce
• 7:28
  that
• 7:28
  to
• 7:29
  40%
• 7:30
  and
• 7:30
  that's
• 7:30
  what
• 7:30
  shows
• 7:31
  up
• 7:31
  with
• 7:31
  the
• 7:31
  credit
• 7:31
  bureau.
• 7:32
  And
• 7:32
  that's
• 7:32
  what
• 7:33
  the
• 7:33
  credit
• 7:33
  bureau
• 7:33
  is
• 7:33
  going
• 7:34
  to
• 7:34
  use
• 7:34
  to
• 7:34
  configure
• 7:35
  your
• 7:35
  score.
• 7:36
  Another
• 7:36
  thing
• 7:36
  you've
• 7:37
  got
• 7:37
  to
• 7:37
  do,
• 7:38
  you
• 7:38
  gotta
• 7:39
  protect
• 7:39
  your
• 7:39
  payment
• 7:39
  history
• 7:40
  at
• 7:40
  all
• 7:40
  costs.
• 7:42
  Maybe
• 7:42
  you
• 7:42
  don't
• 7:42
  have
• 7:43
  the
• 7:43
  ability
• 7:43
  to
• 7:44
  pay
• 7:44
  it
• 7:44
  down
• 7:44
  completely,
• 7:46
  but
• 7:46
  payment
• 7:47
  history
• 7:47
  is
• 7:47
  the
• 7:47
  biggest
• 7:48
  factor
• 7:48
  in
• 7:49
  your
• 7:49
  score.
• 7:50
  You've
• 7:50
  got
• 7:50
  to
• 7:51
  at
• 7:51
  least
• 7:51
  be
• 7:51
  making
• 7:51
  those
• 7:52
  minimum
• 7:52
  payments.
• 7:53
  As
• 7:53
  I've
• 7:54
  talked
• 7:54
  about
• 7:54
  on
• 7:54
  the
• 7:54
  show
• 7:54
  before
• 7:55
  auto
• 7:56
  pay
• 7:56
  for
• 7:56
  at
• 7:56
  least
• 7:57
  the
• 7:57
  minimums,
• 7:57
  put
• 7:58
  calendar
• 7:58
  reminders,
• 7:59
  put
• 7:59
  bank
• 7:59
  alerts.
• 8:00
  Because
• 8:01
  one
• 8:01
  30
• 8:02
  day
• 8:02
  late
• 8:02
  mark
• 8:02
  does
• 8:03
  far
• 8:03
  more
• 8:03
  damage
• 8:04
  than
• 8:04
  high
• 8:04
  utilization
• 8:05
  alone.
• 8:06
  Those
• 8:07
  on
• 8:07
  time
• 8:07
  payments
• 8:08
  are
• 8:08
  your
• 8:08
  foundation
• 8:09
  for
• 8:10
  building
• 8:10
  and
• 8:10
  restoring
• 8:11
  your
• 8:11
  credit.
• 8:12
  Which
• 8:13
  leads
• 8:13
  me
• 8:13
  to
• 8:13
  this.
• 8:14
  Add
• 8:15
  stability,
• 8:15
  not
• 8:16
  more
• 8:16
  debt.
• 8:17
  Do
• 8:18
  not
• 8:18
  open
• 8:18
  five
• 8:19
  new
• 8:19
  cards
• 8:19
  trying
• 8:20
  to
• 8:20
  fix
• 8:20
  this.
• 8:20
  I've
• 8:20
  seen
• 8:21
  some
• 8:21
  of
• 8:21
  these
• 8:21
  clowns
• 8:22
  on
• 8:22
  the
• 8:22
  Internet,
• 8:22
  these
• 8:23
  credit
• 8:23
  gurus.
• 8:24
  First
• 8:24
  thing
• 8:24
  they
• 8:25
  tell
• 8:25
  you
• 8:25
  to
• 8:25
  do
• 8:25
  is
• 8:25
  go
• 8:25
  get
• 8:26
  five
• 8:26
  more
• 8:26
  credit
• 8:27
  cards
• 8:27
  and
• 8:27
  spread
• 8:28
  the
• 8:28
  balance
• 8:28
  across
• 8:29
  those.
• 8:29
  Yes,
• 8:30
  that
• 8:30
  will
• 8:30
  reduce
• 8:30
  your
• 8:31
  utilization.
• 8:32
  It'll
• 8:32
  happen
• 8:32
  really
• 8:32
  quickly.
• 8:33
  But
• 8:34
  like
• 8:34
  most
• 8:34
  people,
• 8:35
  you're
• 8:35
  going
• 8:35
  to
• 8:36
  use
• 8:36
  the
• 8:36
  money
• 8:36
  and
• 8:36
  you're
• 8:36
  going
• 8:36
  to
• 8:37
  spend
• 8:37
  it.
• 8:37
  And
• 8:38
  now
• 8:38
  all
• 8:38
  of
• 8:38
  a
• 8:38
  sudden
• 8:38
  you've
• 8:38
  got
• 8:39
  five
• 8:39
  times
• 8:39
  the
• 8:40
  problem
• 8:40
  that
• 8:40
  you
• 8:40
  had
• 8:40
  before.
• 8:41
  The
• 8:42
  other
• 8:42
  problem
• 8:42
  with
• 8:42
  that
• 8:42
  is
• 8:43
  you
• 8:43
  lose
• 8:43
  your
• 8:44
  history
• 8:44
  of
• 8:45
  your
• 8:45
  credit
• 8:45
  report.
• 8:45
  So
• 8:46
  keep
• 8:46
  those
• 8:46
  old
• 8:46
  accounts
• 8:47
  open.
• 8:47
  I
• 8:47
  get
• 8:47
  so
• 8:47
  frustrated
• 8:48
  when
• 8:48
  I
• 8:49
  hear
• 8:49
  people
• 8:49
  say
• 8:49
  close
• 8:50
  those
• 8:50
  old
• 8:50
  cards,
• 8:51
  put
• 8:51
  it
• 8:51
  on
• 8:51
  a
• 8:51
  new
• 8:51
  one.
• 8:53
  I
• 8:53
  don't
• 8:53
  believe
• 8:54
  that
• 8:54
  you
• 8:54
  should
• 8:54
  close
• 8:55
  any
• 8:55
  cards
• 8:55
  unless
• 8:56
  they're
• 8:56
  charging
• 8:56
  you
• 8:56
  an
• 8:57
  annual
• 8:57
  fee.
• 8:57
  And
• 8:58
  here's
• 8:58
  a
• 8:58
  little,
• 8:58
  little
• 8:58
  secret.
• 8:59
  Call
• 9:00
  them
• 9:00
  and
• 9:00
  see
• 9:00
  if
• 9:00
  they'll
• 9:00
  waive
• 9:00
  the
• 9:01
  lower
• 9:01
  fee,
• 9:02
  but
• 9:02
  focus
• 9:03
  on
• 9:03
  lowering
• 9:03
  the
• 9:04
  balances
• 9:04
  consistently.
• 9:06
  Maybe
• 9:06
  you
• 9:07
  need
• 9:07
  to
• 9:07
  have
• 9:07
  a
• 9:07
  little
• 9:07
  side
• 9:08
  business.
• 9:08
  You
• 9:08
  need
• 9:08
  to
• 9:09
  sell
• 9:09
  something.
• 9:10
  Apply
• 9:10
  your
• 9:10
  tax
• 9:11
  run
• 9:11
  is
• 9:11
  the
• 9:11
  time
• 9:11
  of
• 9:11
  year
• 9:12
  when
• 9:12
  maybe
• 9:12
  you
• 9:12
  could
• 9:12
  take
• 9:12
  that
• 9:13
  tax
• 9:13
  refund
• 9:13
  and
• 9:13
  pay
• 9:13
  down
• 9:14
  your
• 9:14
  debts.
• 9:15
  Because
• 9:15
  slow,
• 9:16
  steady
• 9:16
  reduction
• 9:17
  restores
• 9:18
  credibility
• 9:19
  and
• 9:19
  it
• 9:19
  restores
• 9:19
  your
• 9:20
  credit.
• 9:21
  And
• 9:21
  listen,
• 9:21
  it's
• 9:21
  not
• 9:22
  going
• 9:22
  to
• 9:22
  happen
• 9:22
  overnight,
• 9:24
  but
• 9:24
  your
• 9:24
  score
• 9:25
  can
• 9:25
  rise
• 9:25
  again.
• 9:27
  So
• 9:27
  here's
• 9:27
  your
• 9:27
  win
• 9:27
  for
• 9:28
  today.
• 9:28
  I
• 9:28
  want
• 9:29
  to
• 9:29
  encourage
• 9:29
  make
• 9:30
  one
• 9:30
  principal
• 9:30
  payment
• 9:31
  before
• 9:31
  your
• 9:31
  next
• 9:32
  statement
• 9:32
  date.
• 9:32
  Just
• 9:32
  go
• 9:33
  grab
• 9:33
  your
• 9:33
  credit
• 9:33
  card
• 9:33
  statements
• 9:34
  and
• 9:35
  write
• 9:35
  down
• 9:35
  what
• 9:36
  your
• 9:36
  statement
• 9:36
  dates
• 9:37
  are.
• 9:37
  And
• 9:37
  then
• 9:38
  strategically
• 9:38
  make
• 9:39
  those
• 9:39
  listen,
• 9:39
  you're
• 9:39
  going
• 9:39
  to
• 9:40
  pay
• 9:40
  it
• 9:40
  anyway.
• 9:41
  Make
• 9:41
  those
• 9:41
  strategic
• 9:42
  payments
• 9:42
  a
• 9:43
  day
• 9:43
  or
• 9:43
  two
• 9:43
  before
• 9:43
  the
• 9:44
  closing
• 9:44
  date
• 9:45
  and
• 9:45
  then
• 9:45
  you'll
• 9:45
  be
• 9:46
  giving
• 9:46
  yourself
• 9:46
  a
• 9:47
  little
• 9:47
  hands
• 9:48
  up
• 9:48
  on
• 9:48
  your
• 9:48
  credit
• 9:49
  report
• 9:50
  because
• 9:50
  that
• 9:50
  action
• 9:50
  will
• 9:51
  break
• 9:51
  the
• 9:51
  panic
• 9:52
  and
• 9:52
  that
• 9:52
  momentum
• 9:53
  builds
• 9:54
  movement.
• 9:55
  Let's
• 9:56
  get
• 9:56
  right
• 9:56
  to
• 9:56
  our
• 9:56
  Bible
• 9:57
  verse
• 9:57
  today.
• 9:57
  As
• 9:57
  you
• 9:57
  all
• 9:58
  know,
• 9:58
  Romans
• 9:58
  is
• 9:59
  one
• 9:59
  of
• 9:59
  my
• 9:59
  favorite
• 10:00
  books
• 10:00
  of
• 10:00
  the
• 10:00
  Bible
• 10:01
  and
• 10:01
  this
• 10:01
  one
• 10:01
  comes
• 10:02
  from
• 10:02
  Romans
• 10:02
  chapter
• 10:03
  13,
• 10:03
  verse
• 10:04
  8
• 10:04
  and
• 10:05
  it
• 10:05
  says
• 10:05
  let
• 10:05
  no
• 10:06
  debt
• 10:06
  remain
• 10:06
  outstanding
• 10:07
  except
• 10:07
  the
• 10:08
  continuing
• 10:08
  debt.
• 10:09
  To
• 10:09
  love
• 10:09
  one
• 10:09
  another
• 10:10
  for
• 10:10
  whoever
• 10:11
  loves
• 10:11
  others
• 10:12
  has
• 10:12
  fulfilled
• 10:13
  the
• 10:13
  law.
• 10:14
  And
• 10:14
  I
• 10:14
  just
• 10:15
  love
• 10:15
  this
• 10:15
  one.
• 10:15
  Today
• 10:17
  God
• 10:17
  calls
• 10:17
  us
• 10:17
  towards
• 10:18
  financial
• 10:18
  integrity
• 10:19
  and
• 10:19
  progress.
• 10:21
  He's
• 10:21
  not
• 10:21
  asking
• 10:22
  you
• 10:22
  for
• 10:22
  perfection.
• 10:24
  It's
• 10:24
  not
• 10:24
  asking
• 10:24
  you
• 10:25
  to
• 10:25
  always
• 10:25
  do
• 10:25
  it
• 10:25
  right.
• 10:26
  There's
• 10:27
  grace,
• 10:28
  but
• 10:29
  movement
• 10:29
  towards
• 10:30
  freedom
• 10:30
  is
• 10:31
  what
• 10:31
  we're
• 10:31
  trying
• 10:31
  to
• 10:31
  get
• 10:32
  to.
• 10:32
  So
• 10:32
  do
• 10:32
  that
• 10:33
  today.
• 10:33
  How
• 10:33
  about
• 10:34
  we
• 10:34
  pray
• 10:34
  together,
• 10:35
  Lord,
• 10:36
  you
• 10:36
  see
• 10:37
  the
• 10:37
  anxiety
• 10:37
  my
• 10:38
  friend
• 10:38
  feels
• 10:38
  right
• 10:38
  now?
• 10:39
  You
• 10:40
  see
• 10:40
  that
• 10:40
  embarrassment,
• 10:42
  that
• 10:42
  fear
• 10:42
  about
• 10:42
  the
• 10:43
  future.
• 10:44
  So
• 10:44
  Lord,
• 10:45
  just
• 10:45
  remind
• 10:45
  them
• 10:45
  that
• 10:45
  this
• 10:46
  number
• 10:46
  doesn't
• 10:46
  define
• 10:47
  their
• 10:47
  worth
• 10:47
  in
• 10:47
  your
• 10:48
  eyes.
• 10:49
  Give
• 10:49
  them
• 10:49
  discipline
• 10:50
  to
• 10:50
  stop
• 10:50
  the
• 10:51
  bleeding.
• 10:51
  Give
• 10:52
  them
• 10:52
  wisdom
• 10:52
  to
• 10:53
  lower
• 10:53
  their
• 10:53
  balances
• 10:54
  strategically.
• 10:55
  And
• 10:55
  Lord,
• 10:56
  give
• 10:56
  them
• 10:56
  patience
• 10:57
  to
• 10:57
  rebuild
• 10:57
  this
• 10:57
  step
• 10:58
  by
• 10:58
  step.
• 10:59
  We
• 11:00
  ask
• 11:00
  you
• 11:00
  right
• 11:00
  now
• 11:00
  to
• 11:01
  replace
• 11:01
  that
• 11:01
  panic
• 11:02
  with
• 11:02
  clarity.
• 11:03
  Replace
• 11:03
  shame
• 11:04
  with
• 11:04
  confidence,
• 11:05
  Lord,
• 11:05
  and
• 11:05
  guide
• 11:06
  him
• 11:06
  towards
• 11:06
  financial
• 11:07
  restoration
• 11:07
  that
• 11:08
  only
• 11:08
  you
• 11:08
  can
• 11:08
  do.
• 11:09
  And
• 11:09
  we
• 11:10
  ask
• 11:10
  this
• 11:10
  in
• 11:10
  Jesus
• 11:11
  name.
• 11:12
  Amen,
• 11:14
  friend.
• 11:14
  Credit
• 11:15
  damage
• 11:15
  is
• 11:15
  temporary.
• 11:17
  It
• 11:17
  doesn't
• 11:17
  need
• 11:17
  to
• 11:18
  be
• 11:18
  a
• 11:18
  life
• 11:18
  sentence.
• 11:19
  And
• 11:20
  when
• 11:20
  you
• 11:20
  apply
• 11:20
  some
• 11:20
  faithful
• 11:21
  steps,
• 11:22
  you
• 11:22
  can
• 11:22
  create
• 11:22
  lasting
• 11:23
  recovery.
• 11:24
  Well,
• 11:24
  I
• 11:24
  would
• 11:25
  love
• 11:25
  to
• 11:25
  hear
• 11:25
  your
• 11:25
  stories.
• 11:26
  If
• 11:26
  you've
• 11:26
  got
• 11:26
  a
• 11:27
  story
• 11:27
  about
• 11:27
  recovery
• 11:28
  or
• 11:29
  story
• 11:29
  about
• 11:29
  how
• 11:30
  you've
• 11:30
  made
• 11:30
  a
• 11:30
  difference,
• 11:31
  you
• 11:31
  can
• 11:32
  go
• 11:32
  to
• 11:32
  financiallyconfidentchristian.com/voicemail
• 11:36
  works
• 11:36
  just
• 11:36
  like
• 11:37
  you're
• 11:37
  calling
• 11:37
  a
• 11:37
  friend.
• 11:38
  Just
• 11:38
  go
• 11:38
  to
• 11:38
  that
• 11:39
  website,
• 11:39
  financiallyconfidentchristian.com/voicemail.
• 11:43
  Leave
• 11:43
  me
• 11:44
  a
• 11:44
  message.
• 11:44
  I'd
• 11:44
  love
• 11:44
  to
• 11:44
  listen
• 11:45
  to
• 11:45
  you.
• 11:45
  I'd
• 11:46
  love
• 11:46
  to
• 11:46
  play
• 11:46
  your
• 11:46
  questions
• 11:47
  on
• 11:47
  the
• 11:47
  show.
• 11:48
  Well,
• 11:48
  thank
• 11:48
  you
• 11:48
  so
• 11:48
  much
• 11:49
  for
• 11:49
  joining
• 11:49
  me
• 11:49
  today
• 11:50
  as
• 11:50
  I
• 11:50
  always
• 11:51
  encourage
• 11:51
  you
• 11:52
  stay
• 11:52
  financially
• 11:53
  savvy.
• 11:54
  May
• 11:54
  God
• 11:54
  bless
• 11:54
  you
• 11:55
  and
• 11:55
  you
• 11:56
  have
• 11:56
  a
• 11:56
  truly
• 11:56
  great
• 11:56
  day
• 11:57
  today.