How to increase your credit score by 100 points? Did you know that if you have a credit score
over 720, you will save about $12,000 on average versus someone with a credit score
less than 620? Yeah. It's true. So, let's talk about how you get that credit score up
a hundred points so that you can save at least $12,000. Let's go.
So, when we are talking about credit, we are talking about personal credit. We're talking
about the 3 credit bureaus that exist many of you guys already know. We have Experian,
we have Transunion and we have Equifax. When it comes to personal credit, we have those 3 credit
bureaus and they will report all of the different trade lines and debts that you have. For example,
if you have credit cards, student loans, auto loans or mortgage; those will all report on your
credit report as trade lines. They'll report what the credit balance is, what the high credit limit
is, and how well you've paid them. Additionally, based on how well you pay your bills, what your
debt utilization is, and what your debt ratio is; they will give you what's called a FICO score. So,
when we are talking about credit scores, we're usually talking about your fico score
and we usually again have 3 different bureaus. And they will all give you a similar score,
usually. So, if you have like a 700 with Equifax and a 710 with Experian and a 720 with Transunion,
different lenders will pull the different bureaus and they will pick your middle score. That's
usually how it works with mortgages. However, with credit cards, for example, most lenders
have a specific credit reporting agency that they usually use, okay. So, that's really how personal
credit works and we know when you are going to get money you're going to borrow money, get a loan,
get a credit card or something like that, that lender is going to pull your personal credit
report and they are going to look at your credit score. And your credit score really does matter to
your savings account. The higher your credit score is, the more credit you have access to
and the lower the interest rates that you will pay will be saving you money. If you have a low credit
score, one, again, below 620 as an example, you are going to have less access to credit and you're
also going to pay higher interest rates. No bueno, okay? So, let me tell you how to get that credit
score quickly so that you don't have those issues anymore and you pay the lowest rates available.
So, the first thing that you want to do when we are talking about increasing your credit score
is you have to actually know your credit score. That's kind of a trick question but it's true.
You got to know your own credit score. So, one of my recommendations is that you pull your credit
score. Now yes, you absolutely can pull your credit score for free or your credit report
for free using annualcreditreport.com. They'll give you a free credit report. But I want you to
know what your actual score is. And you're going to actually have to pay 10 or 20 dollars to find
out what that is. I'm going to give you a link below one of my preferred companies that gives
you a really good credit score is myfico.com. Yes, guys. I know Credit Karma and all these other ones
exist but they don't usually give you a good example of what your fico score is. And I have
found that MyFico gives you a very accurate score of what the lenders are seeing. And so, you can
use that link below and again spend a little bit of money just to find out what your credit
score is. Because that is going to be step one to actually increasing your credit score. You got to
know where you are before you can get 100 points more, right? Okay. So, if you know anyone that can
benefit from hearing this video, make sure you go ahead and give it a share and please make sure you
smash that like button so that I can keep bringing you content like this with all of this information
completely free. So, now that you know what your credit score is and you have pulled your credit,
awesome. What you're going to do is pull out a pen in a paper and you're going to go through
every single thing that you see on your credit report. Because everything does kind of matter
for the score a little bit. You want to make sure there's not extra names up there that are
not your names. You want to make sure there are addresses of there that are not your addresses.
Because the next step to cleaning up your credit is seeing all the things that are incorrect about
your credit. You need to go through and find all of the discrepancies, all the things that
are incorrect because our next step is we are going to get that credit report cleaned up and
we're going to have to actually dispute some of the stuff that's up there. So, go ahead take the
time and go through the credit report, your credit report and highlight all of the discrepancies,
the errors, and the inaccuracies so we can go into the next process of getting it cleaned up.
The next thing you want to do now that you've decided and you see that there are incorrect
things or there are late payments or different things, you are going to start to dispute things.
I know, this sounds a little bit crazy like, "What do you mean I'm going to dispute it?" Yes. So,
the awesome thing about personal credit is the burden of proof is on the person that reported
it. I'm going to give you a big secret here guys as a former VP at 2 of the major banks, Chase and
Wells Fargo, yeah, I'm saying names. I know a lot about credit. And one of the things that I know is
that it's the proof of burden is on the lender. So, if they have reported that you've paid them
late or you didn't pay them or something happened, it is on the to prove that that information is
correct. So, you literally are going to be able to start to dispute anything that you think
is not accurate or that they may not be able to prove that will fix your credit. So, for example,
you have late payments up there, you can dispute them. If you feel like, "No. I didn't pay that
late. I don't remember that, I don't recall that." You can go ahead and dispute that. Alright? And
I'm going to give you a letter for free below that you can access to use this to start disputing your
accounts and your trade lines to clean your credit up. That is step one. But before you do this,
I'm going to give you a quick little thing. You want to go ahead and freeze your credit,
okay? So, I'm going to tell you about that because before you start sending the dispute letters,
you're going to go ahead and you're going to freeze your credit report. You don't
want anybody else adding anything up there. You don't want anyone changing anything up there.
When you are in the process of getting your credit score up, it's going to take you about a month or
2. So, you don't want anybody adding new things or checking your credit or doing anything like that.
You're working on something. So, you go ahead and you send a link to all of the 3 bureaus and
you tell them to lock your credit, "Freeze my credit", alright? So, make sure you do that.
So, now that we have cleaned up the credit, let me tell you some secret sauce on getting
your credit score up 100 points. Let me start by telling you though, I started off with really,
really bad credit. So, those of you know me, some of you know me, some of you don't. But I literally
am a real estate millionaire, mentor, and mom of 5 today. But that is not where I started. I started
off in my parents' basement investing in real estate. In 2008-2009, I was flipping houses and I
lost everything. I ended up with bankruptcies and multiple foreclosures on my credit report. I was
literally a disaster and had to move back in with my parents. While I was in my parents' basement,
I started to pull myself out of the dirt. I learned a few things about real estate investing,
primarily wholesaling where I could start finding people that were having property problems.
Similar to the ones that I was having. And I could start making money by wholesaling those deals.
I could do it with bad credit and with no money because all I was doing was finding properties
that people were having property problems with and then getting those properties under contract and
then flipping those contract to other investors for a fee. It was amazing. But I'm gonna tell you,
it was not easy because I had bad credit. I needed to fix my credit. I just could not stay in
that position. I had to swallow my pride. I had to literally go to my dad and ask him if he would put
my name on his credit cards, okay? He put me on was called as an authorized user and this
boosted my credit score intensely. Let me tell you about it. So, with my bad credit, guys,
let me tell you on the secret sauce because you can do this with almost anyone and it's
not really a big risk to them. You can get added to someone's credit cards as an authorized user.
Meaning they are still financially responsible for that credit card but you get access to use
that credit card and they will report that credit card on your credit report. This is the secret
sauce to getting your credit fixed, guys. I can't believe I waited so long to ask. But you can find
someone that has very good credit and you can get added to their credit card as an authorized users.
Those trade lines, those credit cards will start to report on your credit report. So,
if they've had a credit card that they got 10-20 years ago, all of a sudden on your credit report,
there's this trade line from 10 years ago that's reporting with this high balance and it's paid on
time and it will really boost your credit score up. I've seen it boost people's credit scores up
100 points. Especially if you get someone to address authorized user
on an American Express, okay? That's like the big one. So, the bigger the limit,
if they have like a Chase card with like a 10 or a 20 thousand-dollar limit or a 40,000-dollar
limit, those are the credit cards that you want to be added as an authorized user to.
And here's what I'm saying: There's no risk to them. They do not have to give you that credit
card like physically hand you that credit card in order for it to report on your credit report.
Boom. So, that is how you really get your credit score increased. Don't share that with everyone
in the wrong hands. That could be dangerous information. But it boosted my credit score
up over 100 points by doing this with some major credit cards. And again, now, I was able to get my
own credit cards and I've even been able to help other people fix their credit doing that same
thing. The next thing when it comes to credit and getting that credit score up, of course,
these are just some basic things that you should already know but I'm going to share with you. You
want to make sure you are paying all of your bills on time. So, if the credit is due on the 10th pay
it by the 10th, okay? I don't care if you have to borrow the money from someone. I don't care if you
have to take the money off of the credit card and then use that money to pay the credit card bill.
I don't care what you have to do, guys. Because as a business owner, as an entrepreneur,
I have done all kinds of things to make sure that my credit stays intact. But you need to make sure
that you are paying all of your credit cards especially the credit cards on time. This is
how you will get your credit scores over 700. It's really going to have a lot to do with how you use
those credit cards that you're not using them up to the limit, that you're staying really way below
30% utilization. So, again, using as an example, if you had a credit card, had 1,000-dollar limit,
you would never ever ever want it to be reported where it was over $300charged on that card. I
don't care what it is. You really want to keep it under 30%. 30 is like the absolute max. In fact,
I actually would say keep it even lower than that. And that's why I have a ziploc baggie full
of credit cards because I will use all of them and put a little bit on each of them rather than
putting too much on one card and tanking my credit score. You really got to know that it really does
matter the utilization of what the limit to the balance is and how well you are paying them.
They are going to phenomenally affect your credit score. So, make sure you're paying things on time.
Make sure your credit cards are nowhere near the limits. If you need to get additional credit
cards, do that. Transfer balances, whatever you need to do to keep those credit card balances
less than 30% of the limit. Even or another simple solution is you can literally call
the credit card company and ask them to increase the limit so that you can stay beneath that 30%.
And that will increase your credit score as well. Okay, guys. This is Noelle. I love you so much.
I had to give you a bonus because this is the secret. Like this is the big secret on how you can
have great personal credit and never have to worry about it again. This is what Noelle does. I use
business credit, guys. Once I got out of that situation like I told you where I had
bankruptcies, and foreclosures, and I was in my parents' basement like a loser. Once I finally got
my credit score back in order. I don't even use my personal credit anymore. I use business credit.
You can literally use just your business credit. If you are a business, if you have a business,
you literally can have all of your credit cards, all of your cars, all of your houses, pretty much
everything in your business's name. And this video would be 30-40 minutes long if i told you
all of the benefits how you're protecting your assets. All of these different things of doing
it and putting in your business name. But if you want to have great personal credit like forever,
probably need to just get away from personal credit altogether. The big boys --Warren Buffett,
Bill Gates, I promise you that... Donald Trump, I doubt they care about what their personal credit
score is. You really want to create a business entity and create a business credit report for
that business and then just use business credit. Because 2, you can duplicate it. You can start new
businesses and create business credit profiles for every business that you have. And end up
with millions of dollars in business funding which is what I do. So, that's the secret sauce,
guys. Fix your personal credit because you should and that will access even more business credit.
But the secret sauce is you're not even going to use your personal credit cards ever again.
Alright, guys. I shared and I shared and i absolutely love you guys so much. So,
make sure you go ahead and you click that like button. Make sure you subscribe to my channel.
Click that little notification bell so you don't miss any of this content that I am bringing to you
every single day. This is Noelle. I want to make sure that you have all of the resources, all of
the tools, and all of the knowledge that you need to be successful. This is Noelle. To your success.