Here with me is Jimena with ScoreMaster.
And ScoreMaster is a a credit software that I've been using recently.
And it's been really interesting to use because in 2016, I had a late
payment that got on my Amazon account, and I have no idea how it happened
because I have all my stuff on autopay.
And that late payment has been sticking around and bringing down my score for
a while, not a ton, but a good amount.
And I'm applying for a mortgage recently.
And so it's been annoying me a ton.
And so as I've been using the ScoreMaster more, I was able to go into the
dashboard and really quickly realize I could take action on that late payment.
And so I did that a couple of weeks ago, and the other day I got a letter from
I think it was not from Amazon, from one of the credit bureaus.
It was like, we're going to take care of this.
And the late payment came off of my credit report.
And so it's been really awesome to use and also use in a similar way that loan
officers have access to credit simulators that help you see what action do you
need to take with your credit store?
Because so much of it can be a mystery on, do I need to pay
down this card or do I need to
look at, what actions I can take on my errors or things like that.
And it gives you a really solid plan on how to boost your
credit score in the future.
Could you share a little bit more about the score master
software, how it works and walk us through that a little bit more.
Yeah, absolutely.
I'm so happy to hear that you actually took an action.
You got to resolve
that's great.
So what I'm going to do is I'm sharing my screen here.
And this is basically when you sign up with score master, when you log in,
this is what it's going to look like.
This is a test account.
So I'm going to walk you guys through the different parts of it.
So you understand what we're looking at.
So this top part is going to be very self-explanatory.
I'm not going to spend a ton of time on it, but this is your credit score.
As it's being reported by TransUnion.
That is the data feed
that we use.
We also have calculated your auto score, insurance score and
hiring risk index grads are looking for a job and employment.
Look at this.
You can track your score over time as you start to use
the platform and your score changes.
Now what Kyle was talking about is he took an action on ScoreBuilder.
ScoreBuilder as one of the first features that we develop and we have patents on this.
So if you ever see this anywhere, they aren't licensing that technology from us.
We are the only ones that have it.
And so if you have any negative accounts on your credit report,
this feature would be available.
If you don't have any, then it's definitely you'd worry about, but if you
do, it's still walk you through a little bit of a tutorial to help you understand
your credit report a little bit better.
And I think keep going first, it's going to show you those accounts
that are helping your score, and it is great.
And then it's going to show you the ones that are hurting your score.
Now, these are the ones you want to take action on, and this is where
most other credit monitoring platforms or solutions are going to stop.
They're going to show you, okay.
These are your problem in house, but you still have to take action yourself.
You're still have to do the work yourself.
Mail the letters or call do whatever it is you got to do, but you have to do it yourself.
It takes time.
And it's a lot of times it takes money.
If you don't, you hire someone to do it.
But with us, you could just take care of it right here from the platform.
So for example, this initial problem account says I have
a 30, 60, and 90 day late.
I can say, you know what?
That was identity theft.
That was not me.
So click on that.
And we would mail that letter out for you to your creditor.
So one thing to note, this is going directly to who you have
this account with, not the credit bureaus, the letters that we've
said I was going to the bureaus.
So for example, let's say I was not 90 days late
just like Kyle, you have use of this feature here.
Let's say, Hey, you know what?
I'm not late.
There's some additional reasons.
Or let's say that the reason's not in the dropdown menu, write
my own and I would hit next.
And then right here, it says, confront instant delivery.
Now we are going to either fax a letter directly to who you have this account
with, or we're going to mail it.
And what we do really depends on the creditors themselves.
But the beauty about this is when you go directly to the source,
just what you're doing here.
If they approve it, they by law have 30 days to respond to you.
First of all, second of all, they also have to notify the three bureaus.
So by taking care of it with one person took care of it everywhere.
It saves a lot of time.
Yeah.
And it's so funny too.
Cause like I'm very familiar with credit.
And because.
I help coach people through the mortgage process with their credit.
And it was always interesting, I think back now, like why didn't I, why didn't
I solve that late payment earlier?
And I think it was, it felt like a task to do oh, I don't
really want to have to do this.
And it really, I guess it's not, is it really that important to me?
And I guess it still was, I was still annoyed by it, but then I was
like, you know what, like seeing how easy it was to do this, I was
like, this why I might as well just
click and try it and see what happens.
And it's amazing that got I'm still blown away.
I thought they're going to write back
like, no, good luck.
Try again.
So I was amazed with how simple it was to do.
Yeah.
And so now you had a great experience.
I don't want you guys to assume like
that every time, a hundred percent of the time they're going
to say yes, we'll remove it.
But there's a huge test success.
There's no guarantees.
But it is effective.
It's the same as you mailing up the letter to yourself, what response you're going
to get, you-know. On it's just that this is easier, more cost-effective way to do it.
Next of our walk through is our ScoreBoost feature.
Now again, we have patents on this one too, so you're not going to find
a simulator like this anywhere else.
So basically this is a test account.
So for the purposes of this test, this account has $15,000 in credit card debt.
Okay.
So now this person wants to pay that off completely.
They would add some seven to eight points to their credit score, but let's say,
you've got some credit card debt and you can't afford to pay it all off.
You can go at your own pace.
So you'd save your plan at the budget that you have.
So let's say I can pay this.
That's going to add 18
points to my credit score and it tells me which credit cards to put it on.
And then how much, depending on my balances and what's going
to get me the fastest points.
So you could see here, it says, pay this amount by May 30th.
It's an update by June 3rd and to the account.
So we have, you always pay a few days before it's gonna update
so that it shows the lowest balance possible on your credit card based
on what you can afford, which adds points to your score really fast.
Yeah.
I was so excited for you to get to this point, because
I have not seen this available.
Really anywhere else.
Like, I think you mentioned I have not found anything.
That's like this, the only thing that's this is only available to loan officers
to help simulate a credit score.
And by doing similar things, but no one, no
normal person can have access to that.
And so it was really frustrating because building credit or
improving your credit score can be such a mystery where it's like, what do I
do with what accounts I see the general advice, but if I just want to boost
my credit score in the next 60 days, what actions do I need to take now?
And it's incredible that you can see which accounts are actually going to impact your
score by how much during what period of time.
Yeah.
So for example, before I started working here, I was one of those people.
I had pretty good credit.
I was at a 740, but could not for the life of me get beyond that.
And I pay my credit cards off every month, all of this, but what I was
doing is I was paying like credit cards on the last day that I possibly could.
On like the due date.
And so I kept me at a 740.
Now, when I following this plan, I have usually between the 790 and then
800, depending on, what that balance is
right by it reports and so I didn't do anything different.
I just pay things off on a different date.
And now my score went up 50 points.
Yeah, likewise, if you are in a loan process and you are going to spend
money, this is also shows you what happens if you spend a lot of money and
you don't pay it off in times and the cost you points, which can affect your
ability to get a good interest rate.
This is what a process that you're in.
Do you guys have data on what the average increase looks like with
clients, who go through like ScoreBoost or ScoreMaster?
So usually we're averaging about 60 points in about 20 days now.
And then that's also in our tagline because we took a data
set of about 10,000 customers.
And this is the average that we've found some people who there's been cases where
somebody goes up like a hundred points in a week, is that gonna be for everybody, no.
But it could be pretty radical.
Another case is though, if you really don't have a lot of
credit card balances or a lot of credit cards,
your points might be lower, what you'll get.
So it just depends on situation.
Yeah.
And can you also explain too, so a lot of services only show
one credit score with a soft pull?
Could you explain a little bit more about what credit scores are being
shown, how they're different from mortgage credit scores, and then the
difference between that soft pull and a hard pull?
Sure.
With your score master account, you are going to get all three credit scores
from Experian, TransUnion, and Equifax.
So the one that you see up here, this data is being pulled from TransUnion.
But down here you can view all three, and this is one updates every single
month, so that you can monitor all three scores every single month and
make sure that everything looks up to date, right?
Now with us, this is a soft pool.
So that means that you can build your credit score and you can update
this as many times as you want.
You can view the figures as many times as you want.
It's not gonna affect your score, a hard pull.
That's usually when you are going to go in for a loan of some sort, like a car
or a mortgage going into what's called a hard pull, and that will usually cost you
like two or three points on your credit.
But in here, this is considered a soft pull, this isn't cost you anything
you can view it as many times that you want
Yeah.
And could you also walk through the difference between the
scores here and then what someone might see on the mortgage side?
Yeah.
So on the mortgage side, you're gonna want FICO score is what a mortgage
I'm just going to look at. This as a vantage score that we're looking at here.
So at the end of the day, though, the work, when your credit is the
work on your credit, so you can use a tool like ScoreMaster to pay
off your cards on the right dates.
To communicate directly with your creditors and all
that and all those things.
Once you followed all your custom plans and you've gotten all your points at
that point, I would then go to the FICO website, pull the score and see
what a mortgage lender is going to see.
But the work is the work and that's something you could use our tool for.
Absolutely.
Yeah.
I think that's a big thing that people run into as they see the soft pull
score and it can be it's different than the mortgage score because
the mortgage score only comes from
a hard inquiry being pulled which is frustrating.
And I wish it wasn't like that.
Unfortunately, we can't really change the system, but like you mentioned,
like doing the work is still doing the work on all scoring models.
And what I like about the soft pulling models is since we can see
them update, I really like them for tracking momentum of the score.
So usually, what happens is if the vantage score goes up
most of the time the mortgage FICO score goes up and the opposite is true.
So it's really nice to be able to track how is the credit score moving in
what direction to then help me see what, what could be happening on the FICO side.
Exactly.
You said it better than myself.
You can also, we've created, what's called a Smart Report.
Just to view your credit report.
Look a little bit easier.
It's really nicely laid out with all your negatives are here.
You can take actions from here as well, or if you want to see all your different
accounts, some ways that you want to look at through closed accounts or
something like that, that's up to you.
I'm not gonna spend a ton of time on that
I'll let you guys click around in there, but just notice an easier
way to view your credit report.
And then here, you could see all three side by side. So it makes it really easy
for you to see do all of them match.
They're not match, which ones are off and then what do we you do.
Yeah.
I've been seriously impressed with this because getting
credit repair, credit coaching.
It's really so expensive, especially when that money can be used to help
boost your credit score, especially if you're close to buying a home soon.
So if someone's looking to look at what they could boost their credit
score by in the next, you said like 61 days, no 61 points and 20 days what
would be the best next step for them to take?
I would say, enroll, you've got to use Kyle's link because it's
going to give you a discount.
You go directly to the site a little bit more expensive, Kyle has a lower price
that we've worked with him on, so use the link below to sign up and
then I would use the score boost feature as quickly as possible.
And then go in and take your actions.
If you have score builder available, going to take your actions, because
those do take a little bit longer.
You're dealing with another company they've got 30 days
to respond of the score.
Plus, it's going to be your fastest way to getting your credit score
higher and also make sure when you log in that you activate your
million dollars of fraud insurance.
Fraud is rampant.
Nowadays.
We know this and the level of coverage that we provide.
We protect you and your entire household to get this level of
coverage through other companies.
You're going to be actually paying a lot more about five to $10 more
per month than what we charged.
So you're definitely getting a good deal there.
Fantastic.
Yeah. So that link is below.
So feel free to explore that if you have any credit questions, feel
free to leave those in the comments and I'll do my best to answer them.
But Jimena, thank you so much.
Thanks so much for having me here, Kyle, hope to see you all on the inside.