Do you know how your credit score actually works?
Did you know that a bad credit score can cost you thousands of dollars?
Neither do most people, until they find out the hard way…
Information on credit scores isn’t widely taught, even though it’s one of the most important parts of personal finance.
And you probably know your credit score is something you should know about, but you’ve just never set aside the time to look into it.
Well it’s time to take action.
Presenting Credit Score 101: How Personal Credit Works
A 1 HOUR COURSE that completely covers all the ins and outs of credit scores.
I’m Huntly Mayo- my credit score is over 800 (in the best range possible), and I’m a personal finance blogger and lifestyle entrepreneur. One of my areas of expertise is credit scores, and I’ve put together this quick course to bring you up to speed on everything you need to know on the subject.
What you’ll learn in this short but comprehensive class:
·How your credit score is calculated, and by who
·Proven Strategies to boost your credit score!
·How to check your credit score online, completely free
·How to potentially make your credit score work for you
·How to monitor your credit activity, completely free
Sign up now to take control of your credit score, and avoid potentially having it cost you thousands of dollars down the line.
Your credit score is probably more important than you realize... here we cover some areas in life where it comes into play.
Looking closer at the details of how credit scores actually work.
Credit Score Components: Payment History and Amounts Owed make up 65% of your credit score and are the most important areas to focus on.
Smaller Credit Score Components
Credit History Length: 15%
New Account Activity: 10%
Credit Mix: 10%
A Quick Review of All The Credit Score Components
The Truths Behind the 5 Biggest Myths About Credit Scores!
Credit Sesame's most important features:
1) Credit Score
2) My Debt
3) Credit Monitoring
Use AnnualCreditReport.com to check your credit reports from all 3 credit bureaus, once a year, completely for free.
How to read your credit report
1) Identify Negative Items
2) Look for Explicit and Implicit Issues
3) Save Your Report!
Improving Your Credit Score
Takes a bit of work and some time, but the rewards are well worth it!
Credit Score Research: Use the credit report you pulled from AnnualCreditReport.com to research your problem areas.
You can also use Credit Sesame to find possible issues that might not be explicitly stated on your credit report (like lack of payment history or high utilization %).
Get Errors Removed by Disputing Them!
A) List of Mailing Addresses of Credit Bureaus:
C) Sample Dispute Reasons (See downloadable materials)
D) Information to Provide When Contacting Credit Bureaus (See downloadable Materials)
Removing Late Payments
Creditor are not required to remove late payments, however you may find success when asking nicely, by phone and by mail. See the downloadable materials below for a sample request letter.
These have a strong negative effect on your credit score. Getting them removed can be difficult, the rewards are worth it; usually a large boost in your credit score.
Removal methods are complicated, and you need to research them more before taking action. Please consult a lawyer if you are not familiar and comfortable with using any of terms in the resources below.
More Credit Repair Information: Credit Info Center
Building (and ReBuilding) Credit
1) Secured Credit Cards: Secured Cards from CreditCards.com
Cure High Utilization:
1) Pay off balances before end of month
2) Request Credit Limit Increase
3) Pay with cash or debit
4) Open new card
Thanks for taking the class!
Please rate and review if you liked it and found the information useful!
Do you want to learn how to eliminate your biggest travel expenses?
Check out my full feature course Travel Hacking: How to Travel the World for Next to Nothing to find out more...
Limited Time Offer: Save 75% by using coupon code "CREDITMASTER" ( The special links here already have this applied)
Link: Travel Hacking Course
I'm Huntly Mayo Malasky - entrepreneur, personal finance blogger, and avid travel hacker. I write about high-powered personal wealth building at Personal Wealth Basics.
I have over 8 years of experience in the finance industry, and many more researching and testing personal finance strategies.
I'm also the co-founder of a financial literacy nonprofit, Money Smart Start, whose mission is to teach the basics of personal finance to underserved high school students.
I'm passionate about travel, psychology, and living a rich life without hurting your bankroll. For me, that's meant using travel hacking to travel the world for the past few years at almost no cost.