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When it comes to
consumer credit, everyone knows you need a high
credit score in order to get a good loan. It’s the
single most important factor lenders use when
determining whether you’re a credit risk or not. But
fortunately no matter what your credit score looks like
today, there are simple steps you can take that will
boost it to its highest level possible.
That’s why in this
hour-long interview you’ll meet a consumer credit
expert named Dave. Dave is a credit consultant,
newspaper columnist, and author of How Credit Really
Works. And according to him, anyone can bring up
their credit score – you just need to know how. But the
bad news is: your score may be lower than you think.
Dave says the credit scores you get online are not the
ones most lenders see. In fact, your real score could be
more than 100 points lower!
Because there are
multiple scoring models used to determine different
credit scores, there are sometimes huge discrepancies in
what you think your credit score is and what lenders are
seeing. So it’s important that you know exactly what
determines your score and how you can improve it.
Key Concepts From The Interview…
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What is the ideal
consumer credit mix – how
many credit cards you should have, how often you
should use them and what kind of balance is okay to
maintain
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What “credit inquiries” are, why they
show up on your credit score and how to avoid
getting too many of them
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Why you should never close a credit
card account – even if you’re not using the card –
and what you should do instead
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Why you should only use finance
companies as a last resort
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What you need to know about balance
transfers, debt consolidation and pre-approved
credit card offers
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The best place to find credit cards
when you need them
And much more
Dave’s been dealing
with credit accounts for a long time and he knows all
the tricks of the trade. So when he does a consultation,
he tells you exactly how to handle every account and
discrepancy. He tells you what to say to collection
agencies – and what lies you can expect them to say in
return. In other words, he tells you how to take a
proactive approach to your credit score.
But the key to good
credit is in knowing how the system works, and this
interview is a great place to start. And after you
listen to it, if you’re interested in a detailed
evaluation of your credit score, Dave’s including a free
copy of his book with every consultation. Enjoy.
For another interview with an
expert on business credit check out my interview with
business credit expert, Al Fury
Click here.
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