This Is How You Build Credit Like The Rich In Under 15 Minutes

So if you notice this is not a 30minute or even 20m video, because this is pretty simple, more simple than you think.

In this vide, I’ll teach you three things:
– How to Build Credit if you are New
– How to Fix Credit if its messed up
– And why credit is Important and why its not important

I’ll do this through a method, that I named but definitely did not create. Its called the one Bill Method ( set and forget )

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1. To Build Credit we are going to Use the Paredo Principle
– And for you that have never heard that term, its called the 80-20 rule also
– And what we going to do is focus on the 2 things that are going to give us the most results as fast as possible
– My mom went from no credit to 700s and up in less than 6 months ( I cant promise you anything in 3 second but with a little time this works )

Here are the Two things we are gong to focus on:
– Payment History 35%: Your credit score is just a history of how you manage debt, the most important thing with debt is to make sure you are a good payer ( that why they care about this the most )
– Amount Owed 30%: no one wants to lend more money to someone that’s drowning in debt, so no having a massive balance is going to help you a lot.
– I know this seems like only 65% but it’s the most important and it’ll also affect the other factos organitically.

Here is What you Want to do: To build Credit or to Fix Credit a Little
– Open up a Secured Credit Card ( Capital one, or Discover, or Self Builder account or Chime
– This means you’ll deposit some of your own money to give you credibility and trust because your own money in on the line
– Second: just add a small recurring bill to the credit card, like your phone bill, Netflix or apple music
– Third: Set the Credit Card to Pay off in full each money

Why des this help your credit:
– It registers a Balance ( which means you won money )
– But then it register a ontime payment
– And then it register a low balance ( which hits those two very important factors ( after a few months, you’ll 6-12 ontime payment and a low balance, lenders love this )

2. Fixing credit
– The truth is that ever penalty on your credit score except bankruptcy only stays on for 7 years ( but by doing everything else in this video you can raise it )
– Another way is to go to annual credit report Consumer Report

Link: https://www.annualcreditreport.com/index.action

– Then if you see any error in dates, number or any information or just outright fraud, you can dispute it ( and then automatically raise your credit score )

Video: https://www.youtube.com/watch?v=UlzCpRILM0s&t=1s
Link: https://www.consumerfinance.gov/

3. The Truth About Credit (why its important )
– Credit makes it easier to negotiate will a lot more banks and not get weird looks
– However some banks don’t care if you have credit, they will approve you for a mortgage doing manual underwriting
– Never buy anything except a home with credit ( cars, stuff, and vacation, bad idea )

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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