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How to Master Your Credit · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: How did your journey end up to where you are now?
• 1:03
  Speaker 4: Yeah, so it kind of happened by accident. Like literally,
• 1:06
  Speaker 4: I was in college and I that was the first
• 1:09
  Speaker 4: time I realized I did not have good credit. I
• 1:11
  Speaker 4: tried to get a car. They wanted me to finance
• 1:14
  Speaker 4: it at like twenty eight percent. I took it because
• 1:17
  Speaker 4: I didn't even I didn't even hear yeah, because I
• 1:18
  Speaker 4: didn't grow up learning about credit or knowing about credit.
• 1:20
  Speaker 4: It wasn't a thing. So by the time I realized
• 1:23
  Speaker 4: I had bad credit, it was too late. I was
• 1:24
  Speaker 4: already made contracts. So when I, you know, went to
• 1:28
  Speaker 4: renew my car, they told me, you know, hey, you can't.
• 1:31
  Speaker 4: You you're gonna take negative equity into your new loan.
• 1:34
  Speaker 4: You need to fix your credit. And I just went
• 1:38
  Speaker 4: home and I just started researching it. So as I
• 1:41
  Speaker 4: began to like fix my own credit, repair it and
• 1:43
  Speaker 4: like build, I started like telling my family and friends
• 1:47
  Speaker 4: about it, like things to do, things that were working
• 1:49
  Speaker 4: for me. And it started with me starting a Facebook
• 1:52
  Speaker 4: group with like ten people just for my family and friends,
• 1:55
  Speaker 4: and that ended up that group now has over like
• 1:58
  Speaker 4: six hundred thousand people. But it's started just in that group,
• 2:01
  Speaker 4: me thinking I'm sharing credit information with family and friends.
• 2:05
  Speaker 4: And I ended up going to school for changing my major,
• 2:08
  Speaker 4: switching my major, studying it, getting certified, getting board certified,
• 2:12
  Speaker 4: and it kind of just happened like that, I started
• 2:14
  Speaker 4: trying to fix my own and then I just like
• 2:16
  Speaker 4: became obsessed and fell in love with.
• 2:18
  Speaker 5: Credit twenty eight percent Were you aware that's your credit?
• 2:22
  Speaker 5: I mean, obviously it was a surprise to you.
• 2:24
  Speaker 3: But what were the.
• 2:25
  Speaker 5: Things that you were doing looking back that were negatively
• 2:28
  Speaker 5: affecting your credit.
• 2:29
  Speaker 4: I think my biggest thing was I wasn't I hadn't
• 2:33
  Speaker 4: built credit at that point, like it was it was.
• 2:35
  Speaker 4: I was always taught no credit cards, cash by everything.
• 2:38
  Speaker 4: If you if you don't have the money for it,
• 2:39
  Speaker 4: you can't afford it. Now I know that, of course
• 2:42
  Speaker 4: it's not true. But living that way, you know, caused
• 2:45
  Speaker 4: me to not have credit. And then the credit that
• 2:47
  Speaker 4: I did have, I had like a few collections, just
• 2:50
  Speaker 4: low level like T mobile phone bills and stuff like that.
• 2:52
  Speaker 4: But yeah, so I had no credit in it. On
• 2:54
  Speaker 4: top of that, I had a few bad accounts, gotcha. Yeah?
• 2:57
  Speaker 3: So okay, so when did you start teaching credit?
• 3:02
  Speaker 4: So it started, like I said, with just teaching sharing information,
• 3:05
  Speaker 4: I would say, with my family and friends. I didn't
• 3:07
  Speaker 4: start officially teaching it until I got certified. So I
• 3:11
  Speaker 4: was certified through Fiightoh and then I went to get
• 3:14
  Speaker 4: board certified as a credit educator, and so that was
• 3:16
  Speaker 4: when I was like comfortable with sharing information. I'm just
• 3:20
  Speaker 4: the type that I don't like to teach or educate
• 3:23
  Speaker 4: about anything that I don't feel like I'm an expert in,
• 3:25
  Speaker 4: especially online because you know, people people crazy. So yeah,
• 3:30
  Speaker 4: I definitely after I realized like I had a passion
• 3:32
  Speaker 4: for it. I knew that this was something that the
• 3:35
  Speaker 4: people that looked like me in my community. I knew
• 3:37
  Speaker 4: that this this was something that they was missing, and
• 3:40
  Speaker 4: I knew that I could explain it in a way
• 3:42
  Speaker 4: that they can they would understand, which is what was
• 3:44
  Speaker 4: like the driving force around me getting the formal education
• 3:48
  Speaker 4: and then like translating it to my audience and people.
• 3:51
  Speaker 3: That look certification, Yes, what is that?
• 3:55
  Speaker 4: Oh they need the program back. But it was a
• 3:56
  Speaker 4: program where you would go through it was eight weeks
• 3:59
  Speaker 4: and you would literally just learn the ins and outs
• 4:01
  Speaker 4: of the FICO score, like everything, how every single point
• 4:05
  Speaker 4: is allocated, how how your credit we had to break
• 4:08
  Speaker 4: down a credit report. I'm able to like look at
• 4:11
  Speaker 4: a credit report and immediately identify any areas of opportunity
• 4:14
  Speaker 4: like they teach the FYCAL course taught you in a
• 4:18
  Speaker 4: way that credit is not being taught anymore. It was
• 4:20
  Speaker 4: just like diving in detail about how every single item
• 4:24
  Speaker 4: affects your score, things that will lend points to your score,
• 4:29
  Speaker 4: and it just kind of took the mask off, I
• 4:31
  Speaker 4: would say, of just credit score.
• 4:33
  Speaker 5: When we talk about fycle, a lot of people what's
• 4:35
  Speaker 5: your fycle score?
• 4:36
  Speaker 2: What's your credit score? Yes?
• 4:37
  Speaker 5: How does this work? Because we know that this bureau's Experience, Equifax, TransUnion,
• 4:42
  Speaker 5: and then this fycle are the scores from those three
• 4:45
  Speaker 5: bureaus average and now becomes your fighters How does that work?
• 4:48
  Speaker 4: So the easiest way to explain it is we have
• 4:51
  Speaker 4: three separate credit scores. They're assigned by TransUnion, Echo, FAXX
• 4:55
  Speaker 4: and Experience. So those are three scores that you'll you'll
• 4:58
  Speaker 4: you're assigned now when it to FIGHTO score in credit score,
• 5:02
  Speaker 4: FCO score is the industry standard, So like if you're
• 5:05
  Speaker 4: purchasing a home, if you're buying a car, applying for
• 5:07
  Speaker 4: a credit card, they're going off your fight Go score.
• 5:10
  Speaker 4: The difference is most people are only privy of their
• 5:15
  Speaker 4: Vantage Score, which is essentially just like a free version
• 5:19
  Speaker 4: of FYCO score, and that is like when you have
• 5:21
  Speaker 4: credit karma. Most credit monitors are your apps earners.
• 5:25
  Speaker 2: What's up?
• 5:26
  Speaker 5: You ever walk into a small business and everything just
• 5:28
  Speaker 5: works like The checkout is fast, the re seats are digital,
• 5:32
  Speaker 5: tipping is a breeze, and you're out the door before
• 5:35
  Speaker 5: the line even builds. Odds are they're using Square. We
• 5:39
  Speaker 5: love supporting businesses that run on Square because it just
• 5:42
  Speaker 5: feels seamless. Whether it's a local coffee shop, a vendor
• 5:45
  Speaker 5: at a pop up market, or even one of our
• 5:47
  Speaker 5: merch partners, Square makes it easy for them to take payments,
• 5:51
  Speaker 5: manage inventory, and run their business with confidence, all from
• 5:55
  Speaker 5: one simple system. If you're a business owner or even
• 5:59
  Speaker 5: just thinking about launch something soon, Square is hands down
• 6:02
  Speaker 5: one of the best tools out there to help you start, run,
• 6:05
  Speaker 5: and grow. It's not just about payments, it's about giving
• 6:09
  Speaker 5: you time back so you can focus on what matters
• 6:11
  Speaker 5: most ready. To see how Square can transform your business,
• 6:15
  Speaker 5: visit Square dot com backslash, go backslash eyl to learn
• 6:20
  Speaker 5: more that Square dot com backslash, go backslash eyl. Don't wait,
• 6:25
  Speaker 5: don't hesitate. Let Square handle the back end so you
• 6:28
  Speaker 5: can keep pushing your vision forward. This episode is brought
• 6:34
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• 6:36
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• 6:40
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• 6:44
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• 6:48
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• 6:51
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• 7:00
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• 7:08
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• 7:12
  Speaker 5: Member FDIC.
• 7:15
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 7:19
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 7:23
  Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
• 7:27
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 7:31
  Speaker 1: some of the heinous migrant criminals caught because of President
• 7:35
  Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 7:38
  Speaker 1: Secretary of Homeland Security. Under President Trump, Attempted illegal border
• 7:43
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 7:47
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 7:50
  Speaker 1: are here illegally, your next you will be fined nearly
• 7:54
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 7:58
  Speaker 1: never return. But if you register using our CBP home
• 8:02
  Speaker 1: app and leave now, you could be allowed to return legally.
• 8:06
  Speaker 1: Do what's right. Leave now. Under President Trump America's laws,
• 8:10
  Speaker 1: border and families will be protected.
• 8:13
  Speaker 2: Sponsored by the United States Department of.
• 8:15
  Speaker 4: Homeland Security, will give you your advantage score as opposed
• 8:18
  Speaker 4: to your fight a score, which is why a lot
• 8:19
  Speaker 4: of times people will think that they know what their
• 8:21
  Speaker 4: credit score is and they'll go apply for something and
• 8:23
  Speaker 4: they're like, well, credit carder was telling me I had
• 8:26
  Speaker 4: a six fifty, but the car lot is telling me
• 8:28
  Speaker 4: I have a five forty. So there are three different
• 8:31
  Speaker 4: credit scores and within to not make a complex, FICHO
• 8:35
  Speaker 4: has many different models, so depending on what you're applying for,
• 8:39
  Speaker 4: the lender will choose a different model that they'll pull.
• 8:42
  Speaker 5: I think I've seen that. So it was like, if
• 8:43
  Speaker 5: I needed a loan, it was like Fyco score eight. Well, yeah,
• 8:47
  Speaker 5: if I needed a credit card, it was different. Bureaus
• 8:50
  Speaker 5: inside of it, and they could be similar, or they
• 8:52
  Speaker 5: could be vastly different.
• 8:53
  Speaker 4: They could be vastly different.
• 8:54
  Speaker 5: They're differently true.
• 8:56
  Speaker 4: So the ones that I like to talk about because
• 8:59
  Speaker 4: I think that everyone should be aware of these different ones.
• 9:02
  Speaker 4: Fyco eight is the one that's used the most, so
• 9:04
  Speaker 4: especially when you're applying for credit cards, some car and
• 9:08
  Speaker 4: personal loans, they're going to use Pyco eight. When you're
• 9:11
  Speaker 4: purchasing a home, they're specifically going to use Fichos two, four,
• 9:14
  Speaker 4: and five, which are known as the mortgage scores. If
• 9:17
  Speaker 4: you're purchasing a car, they're going to use your your
• 9:19
  Speaker 4: FYCO five, I mean your Fyco six, which is your
• 9:22
  Speaker 4: auto score. So there's those are like the three most
• 9:26
  Speaker 4: used versions or widely used versions of your Fyco score.
• 9:29
  Speaker 4: But the way that I teach credit you, when you
• 9:32
  Speaker 4: fix your credit profile, it'll translate across all scores, which
• 9:36
  Speaker 4: is why I don't necessarily like place too much emphasis
• 9:41
  Speaker 4: on the different versions of your Fyco score, because if
• 9:43
  Speaker 4: you have a healthy profile, it'll translate regardless of which
• 9:46
  Speaker 4: score is pulled.
• 9:47
  Speaker 3: You be healthy. Yeah, So what factors contribute to your
• 9:50
  Speaker 3: personal credit score?
• 9:52
  Speaker 4: So credit score is your credit score is broken down
• 9:55
  Speaker 4: into five categories. Right, so most people know your payment
• 9:58
  Speaker 4: history is thirty five percent, or credit utilization is thirty percent,
• 10:02
  Speaker 4: credit age is fifteen percent, and then hard inquiries and
• 10:07
  Speaker 4: credit mix are both ten percent. Right, So those are
• 10:09
  Speaker 4: the five factors that lend to your credit scores. Now
• 10:14
  Speaker 4: they're weighted differently. So payment history is thirty or is
• 10:17
  Speaker 4: thirty five percent or worth up to one hundred and
• 10:20
  Speaker 4: ninety two point five points. Credit utilization is worth one
• 10:23
  Speaker 4: hundred and sixty five points, credit age is worth eighty
• 10:26
  Speaker 4: two point five points, and then hard increase and credit
• 10:29
  Speaker 4: mix are both worth fifty five points each. Right, So
• 10:32
  Speaker 4: those are the separate factors. And when you're building your credit,
• 10:36
  Speaker 4: if you focus on those top three categories, which is
• 10:38
  Speaker 4: credit utilization, payment history, and credit age, you'll have at
• 10:42
  Speaker 4: least like a six eighty, six, ninety, and sometimes even
• 10:45
  Speaker 4: a seven hundred depending.
• 10:46
  Speaker 3: On So can you go through each one of those
• 10:48
  Speaker 3: top three like, yeah, credit utilization explain, I definitely can't.
• 10:51
  Speaker 4: So pay me history is the largest factor in your
• 10:54
  Speaker 4: credit score. So in Layman's term, to pay your bills
• 10:57
  Speaker 4: on time if you cannot make a pay schedule and
• 11:02
  Speaker 4: arrangement with the with your bank because the second that
• 11:04
  Speaker 4: your bank reports a lay payment, which is a payment
• 11:07
  Speaker 4: that's thirty days pass to do date, you will have
• 11:10
  Speaker 4: a lay payment. Because your payment history is the largest factor.
• 11:15
  Speaker 4: One lay payment can literally drop your score up to
• 11:17
  Speaker 4: one hundred points depending and so then credit utilization, which
• 11:22
  Speaker 4: is one that's slept on and honestly, it's the one
• 11:25
  Speaker 4: to me that has the most immediate impact on your score.
• 11:29
  Speaker 4: So what I mean by that is your credit utilization
• 11:32
  Speaker 4: is pertaining to credit cards. So how much you're using
• 11:36
  Speaker 4: your credit card, how much, how much balance, how much
• 11:39
  Speaker 4: of a balance you carry over to the next month,
• 11:41
  Speaker 4: is going to determine your utilization. Keeping that below ten
• 11:45
  Speaker 4: percent is going to do wonders for any profile. And
• 11:51
  Speaker 4: then credit age is something that when you're in the
• 11:55
  Speaker 4: beginning of building your credit, you're not really going to
• 11:56
  Speaker 4: have any control over that. As you open to account,
• 12:00
  Speaker 4: close new accounts. If you are repairing your credit and
• 12:03
  Speaker 4: you're getting things deleted, that also affects your credit age
• 12:06
  Speaker 4: because it is an average. So after you after you
• 12:11
  Speaker 4: get your your basic base level credit profile, and we
• 12:13
  Speaker 4: can go into that, don't apply for anything for six
• 12:17
  Speaker 4: to six to nine months, and that'll that'll AI to
• 12:21
  Speaker 4: improving your credit age, because that's the most take that
• 12:23
  Speaker 4: a lot of people make when they're building credit. The
• 12:26
  Speaker 4: probably the number one mistake, which is what applying too fast,
• 12:30
  Speaker 4: trying to build credit too fast, trying to thinking that
• 12:34
  Speaker 4: anything that they apply for and get approved for it's
• 12:37
  Speaker 4: a great thing for their credit profile.
• 12:39
  Speaker 1: And illegal alien from Guatemala charged with raping a child
• 12:43
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 12:47
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 12:51
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 12:55
  Speaker 1: some of the heinous migrant criminals caught because of President
• 12:59
  Speaker 1: Donald J. Trump leadership. I'm Christy nom the United States
• 13:02
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 13:07
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 13:11
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 13:14
  Speaker 1: are here illegally, your next you will be fine nearly
• 13:18
  Speaker 1: one thousand dollars a day, imprisoned and deported, you will
• 13:22
  Speaker 1: never return. But if you register using our CBP home
• 13:26
  Speaker 1: app and leave now, you could be allowed to return legally.
• 13:29
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 13:34
  Speaker 1: border and families will be protected.
• 13:37
  Speaker 2: Sponsored by the United States Department of Homeland Security,