The Secret To Getting An 850 Credit Score

Who wants an 800 credit score or higher? We all do, right? But is it really possible? Well, yes. Not only is it possible, I've done it myself. Here's my credit scores. As you can see, they are 8 12, 808, and 815. Now, my credit used to be terrible, so how did I do it? Well, today I'm going to walk you through my secrets to increasing your credit score fast and. And getting into the 800 Club like me. So you better stick around.

So the big question is, how can we take our passion for helping people with their credit and turn it into a successful business without taking loans, without spending a fortune by bootstrapping it from nothing so we can help the most people and still become highly profitable? That is the question, and this podcast will give you the answer. My name is Daniel Rosen, and welcome to Credit Repair Business Secrets.

Okay, before I dive in, if you are new to my podcast, be sure to click to subscribe and turn on notifications so you don't miss a thing. And if you want me to hold you by the hand as you launch your very own credit repair business, go to creditherochallenge.com where I will walk you through the proven process that has created millionaires and changed tens of thousands of lives. That's creditherochallenge.com and one more thing. And I love this part. Every episode, I am featuring one of our credit heroes inside our credit repair cloud Facebook community so that you can see firsthand what real people are doing as they launch and grow their business. And today's spotlight is on Steve Heath of Legacy Consultations. He just posted this a few days ago in our community. Here's what he wrote. He wrote, don't give up. Don't ever give up. Up. Year one in business, I only did $19,000. Year two in business, I was able to do over half a million. I got my dream car, quit my job, hired VAs, got my time back and expanded. I was ready to give up after year one, just like I see many of you posting. But I knew that credit repair could change me and could change my family's life. And I invested, I grinded and. And I have made it. Then he goes on to say, mark my words, I will be joining that millionaires club this year. And I am so happy for you, Steve. Half a million dollars is amazing and I can't wait to see you hit the millionaires club and know that we are all rooting for you. And by we, I don't just mean me and our team here. At crc. No, I mean our amazing community of credit heroes which has just passed the 26,000 members. And the whole point of our community is to inspire and help each other up the mountain. And there is nothing we can't accomplish together. Okay, let's get into this. 21% of the population has a credit score of 800 or more. That's one in six people. And then a perfect credit score is 850. And only 1% of the population has that perfect score. So what is the secret to getting a perfect 850 credit score? Well, the first thing we need to do is we need to look at what folks with such a high credit score. We need to see what they all have in common. And they all have between four and six credit cards which are revolving accounts. They each have at least one installment line like a mortgage or an auto loan that's in good standing. They each have around 30 years of credit use. They have no late payments or other serious account errors for at least the past seven years. They have very few credit inquiries, no more than three inquiries in a six month period. They have no derogatory notations on their reports like collections, bankruptcies, liens or judgments. No, they are clean as a whistle. And the debt levels on their credit accounts are are at less than 30% of their overall credit limit. Now from this list you can see that you don't get here overnight. But the important thing that I want you to know is that while it is possible to have a perfect 850 credit score, it's not necessary to have a perfect 850 credit score. In fact, anything above 700 that's going to significantly help you or your clients to qualify for the life, the home and the car that you really want. And that is totally achievable and you can help them to get there. Now, when you are a credit hero and you're using Credit Repair Cloud as the software running your profitable credit repair business, a big part of your job is to educate your clients on the best ways to manage their credit and their debt and to work on their behalf to correct any errors or issues that that are on their credit report. And as a result the score will naturally increase. And if you do what I'm about to share with you, your score will go up too. All the secrets that I'm going to share with you right now, they all apply whether you are trying to increase from a 300 to 500 or from a 500 to 800. So take what I'm going to go over Today and apply it to yourself and to all your clients, no matter where they are on their credit journey. Okay, let's dive in. Coaching your clients to a higher credit score is going to have a major impact on their life as you help them to understand their habits and as you help them to change any of the bad habits that are getting in the way of the life that they want. Now, the real trick to increasing a credit score is understanding the importance of keeping your spending under control, never spending more than you can afford. I don't even use credit cards now because I was so addicted to them in the past that I couldn't control my spending. And at one point, I had over $200,000 in credit card debt. And that was really, really scary. Now, don't get me wrong. I do own credit cards. I just don't use them. I keep them in a drawer and. And I use a debit card for everything. And just this one change made the biggest effect on my life and my finances because it forced me to only pay for things when I could really, really afford them. And also, by not using credit cards, I was no longer racking up debt. So that made it easier to dig out of my mound of debt. And that's a really great feeling. Next important is to always pay your bills on time. Always use a calendar system or put bills on autopay, or do whatever you can so that you never miss a bill payment. And finally, you've got to stop applying for credit, because each time you do, it dings your credit score. So instead, if you're going to apply for credit, save that for something really important that you really need, as opposed for applying for random store cards. Every time a salesman asks if you'd like to save an additional 10% today by applying for a store credit card, trust me, you don't need the store card. Okay? You don't. You really don't. It really is that simple. Here's why this is important. As you are coaching your clients and as they begin to see results, they are going to be so grateful, they're going to turn from a paying customer to a raving fan. And that means that they're going to start referring people to you, and your business will grow even faster. And one of the best ways to have instant credibility with potential clients is by showing them increased credit scores and testimonials from your past clients. And you can even show your own score increases and tell your own credit story. So here's what you need to know. There are five simple things that you can do to increase your credit score fast and then turn around and coach your clients to do the same so that they can have a higher credit score too. First of all, you gotta start checking your credit reports. The three major credit bureaus, they are always monitoring how you handle your credit and your finances. So as often as you can, and especially a few months before entering into a major loan, you want to review your credit reports from Equifax, Experian and TransUnion and know that you're entitled to one free copy from each of those bureaus once a year and more under certain circumstances. And once you get those reports, you want to fix all typos and errors. Okay, there will be errors. Since your credit report spans almost a decade of your borrowing activity, it makes sense that errors are going to be there. Now, a recent study showed that 79% of all credit reports have errors. That's hundreds of millions of errors. Common credit reporting errors include out of date addresses, closed accounts being shown as open credit lines, not being reported the correct amount, and just random wrong information. Next, you want to change your ways immediately. Self inflicted credit wounds like history of late payments or defaults, or irresponsible behavior. These are going to fade from your record over time. Since the most recent behavior on your credit reports carries more weight than the older behavior. What you want to do is make a commitment from today forward that you're going to be a financially upright citizen. And you know what? Over time, your score will grow. Now remember that your credit card is not cash, okay? It represents money that you do not have. And even though you've been approved for credit by a bank or a store to borrow thousands of dollars, you may not actually have thousands of dollars to spend. Which leads nicely to the next rule. Ignore everyone's rules on what is an acceptable amount of debt. Your debt to income ratio is the measure of how much debt you carry versus how much money after taxes you have coming in. And in the world of lending, it's acceptable to carry 25% of your income in debt. But that debt ratio is still very high. So you may want to consider trying to keep your debt, including your car loans, to 15% or less of your after tax income. Pretty simple, isn't it? Now these changes, they don't happen overnight. But when you follow these principles and you coach them to your clients, you can radically change your lives and all the lives around you. Just like our millionaires club member, Derecka Harwell. Now Dereka is the founding CEO of Beautify Credit, which is A massive credit repair operation that she built all by herself from ground zero. And when I say ground zero, I mean Derica was living in her car with her two kids when she started. And that's why her unstoppable success is all the more inspiring, because of everything that Derecka had to go through to get to where she is today. And even though she's living a busy life at the very top of the credit repair industry, Derica is very passionate about education and community work. She's also an award winning author and she received the Author of the Year award for her book, which is called Beautify Credit, which is in the financial literacy category. Now, recently, Dereka was here on my podcast and she shared her journey with us. And if you haven't listened to it, after this one is over, go and listen to it because Derica shares some incredible credit repair insights and secrets on how exactly she created her multimillion dollar credit repair empire from nothing. And it's a really amazing story. And if you're just starting or thinking of starting your credit repair business, I want to invite you to join our upcoming Credit Hero Challenge. And in this challenge, I will hold you by the hand and help you step by step as you launch your business. It's a highly interactive program with daily coaching calls, daily mentorship, and a whole ton of action. Step and bonuses. And you even get certified in three different areas. But most importantly, you will learn the processes that have created millionaires and changed thousands of lives. So go check it out right now@creditherochallenge.com and if you're finding value in the things that I'm sharing on this podcast, click below to subscribe. And if you're feeling kind, rate me and review me or leave a comment or a question, send me because I read each and every one of them and I will see you on the next episode. And until then, be a Credit Hero and keep changing lives.

Hey everybody, it's Daniel again, and really quick. I'd like to invite you to join what I believe is the best thing we have ever created inside the credit repair cloud community. And it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business or you're just getting it started and you dream of having a successful business of your own so you can quit your 9 to 5 and fire your boss and have financial freedom or so you can add another revenue stream to your existing business, if that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics, and all the things you need to be successful at credit repair. It really is the greatest thing we have ever built, and it will change your life. So I recommend you do it right now. Stop everything. Pause this audio, go online and go to creditherochallenge.com that's creditherochallenge.com and join the next challenge. And there's a challenge that's starting in just a few days. So go get started right now@creditherochallenge.com.