The Secret To Getting An 850 Credit Score Rating

They each have around 30 years of credit usage. You haven’t had late payments or other serious account errors for at least seven years. You have very few loan requests, no more than three requests in any six months. They have no derogatory notations on their reports, such as collections, bankruptcies, liens, or judgments. No, they are sparkling clean. And the debt on their credit accounts is less than 30% of their total credit limit. From this list, you can now see that you don’t come here overnight. But the most important thing I want you to know is that while it is possible to have a perfect 850 credit score, it is not necessary to have a perfect 850 credit score going from 300 to 500, or from 500 to 800. So take what I’m going to go through today and apply it to yourself and all of your clients, no matter where they are in their credit journey. Alright, let’s dive in. Coaching your clients to get better credit scores will have a huge impact on their lives as you help them understand their habits. And how to help them change any bad habits that are getting in the way of their desired life. Well, the real trick to boosting your credit score is understanding the importance of keeping your spending under control and never spending more than you can afford. I don’t even use credit cards now because I’ve been so addicted to them in the past, I couldn’t control my spending. And at one point I had over $200,000 in credit card debt. And that was scary. Don’t get me wrong, I have credit cards, I just don’t use them, I keep them in a drawer. And I use a debit card for everything. And it was this one change that had the biggest impact on my life and finances because it forced me to only pay for things I could afford. And since I didn’t use credit cards, I didn’t go into debt anymore. That made it easier to get out of my mountains of debt. And that’s a great feeling. Next, it is important to always pay your bills on time and to manage your credit and finances. So you want to check your Equifax, Experian, and TransUnion credit reports as often as possible, especially a few months before taking out a major loan, and know that you are entitled to a free copy from each of these bureaus once a year and possibly longer. And once you get those reports, you’ll want to fix all the typos and errors. Okay, there will be errors. Since your credit report covers nearly a decade of your borrowing, it makes sense that errors will be present. Now, a recent study showed that 79% of all credit reports contain errors. That’s hundreds of millions of errors. Common credit report errors include outdated addresses, closed accounts, which show up as open lines of credit not reporting the correct amount, and just random incorrect information. Next, you want to change your habits immediately. self-inflicted credit breaches such as defaults or past defaults, or irresponsible behavior. These will fade from your record over time because recent behavior carries more weight on your credit reports than older behavior. What you want to do is commit to being a financially decent citizen starting today. And guess what, over time your score will grow. Remember your credit card isn’t cash, okay? It represents money you don’t have. And even though you have been approved for credit by a bank or shop, That’s why I recommend you do it now. Stop everything, pause this audio. 

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