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  • Quick question. What number defines you? Is it your age? Those lotto digits you just know

  • will pay off someday?

  • Maybe you think there's no number that defines you. But corporate America disagrees. Industry

  • defines you with three digits, your credit score, and it influences everything from how

  • much you'll pay to borrow money to whether you can buy a cellphone, land a job, or rent

  • an apartment. It's not easy to make sense of your finances.

  • I'm Shahien Nasiripour and I want to meet people with an obsession to beat the system

  • and never leave money on the table.

  • It's become such a popular measure of character that there's a dating service that matches

  • people off of it. Maybe it's not for you. It's definitely not for me. Around 200 million

  • Americans have FICO scores, but only about 1.5% of them have that perfect 850 number.

  • One of the folks who knows how to join the 850 club is Stan Kellman. He learned to game

  • a system after his score fell below 600 during the Great Recession. Let's give him a ring

  • and find out how he did it. Hey, Stan, thanks so much for taking the time

  • to chat. Thank you for having me.

  • What moved you to want to achieve an 850 credit score?

  • I just happened to have the misfortune of graduating with my MBA in the recession and

  • got into some debt. In the process of settling that debt, my credit score dropped. What it's

  • like to live with a low score, it really sucks. If you have a mark on your credit report,

  • it will not go away for seven years, for 10 if you have a bankruptcy.

  • You mentioned that you had negotiated with your creditors. How did you go about doing

  • that? You'll get daily collection calls and they'll

  • want you to make a payment. What you don't realize is once you make a payment, your clock

  • gets reset. By law, after 180 days of nonpayment is when they are required to write it off

  • for accounting purposes, and right before the 180 day mark is when you can call them

  • and make a deal. I could settle some cards for as low as 20

  • cents on the dollar. You are not paying back what you promised to pay back, but at the

  • same time, there are big banks that got billions of dollars from the government in bailout

  • funds and I didn't. So that was my own personal bailout.

  • Why didn't you just stop when you got to 780? Why did you try to get that elusive 850?

  • Because that's my personality. I wanted my perfect score. The scores are not developed

  • for you. They're developed for the banks to evaluate your credit worthness. They're not

  • a measure of your personal financial health. You can be deep in debt and have a perfect

  • score, and that's not good for you. And it's better to have a middling score, but have no

  • debt. Let's look at how these credit scores are

  • weighted. Peoples with perfect 850 scores never make late payments. The 850ers use maybe

  • 5% of the big credit limit and have had a diverse mix of loans and card accounts over

  • the years. They also haven't applied for any new credit recently.

  • It's not the fairest system, but you really don't need to be perfect to get it to work

  • for you. founder, Janet Alvarez, raised her score 300 points, and she's got

  • tips on how to raise your score and keep it there.

  • In order to get the perfect 850 or 860 credit score, it's going to take sort of impeccable

  • performance on every aspect of your credit. But you don't really need it. You don't need

  • a perfect score to get the best rates or the best offers. You just need a really good score.

  • Younger people are inadvertently penalized because if you're younger, you're just not

  • going to have a lot of credit history and to get the maximum boost out of this component

  • of your credit score, you're going to want a credit history of 30 years or longer. Even

  • if your credit isn't great, if you do qualify for more credit, ask for higher credit limits

  • on your existing cards or try to get new cards. Again, that improves your credit utilization

  • ratio so that opens your score. It can boost it by something like 50 to 100 points within

  • a month, depending on how much additional credit you take on.

  • There's a different score generated for the type of loan or the type of credit you're

  • seeking, so for the purposes of credit cards or a car loan or a home loan, you might get

  • different scores, and that's just because they're looking at different selection criteria

  • based on what you're borrowing for. So get to work on your score. Give yourself

  • some credit along the way.

Quick question. What number defines you? Is it your age? Those lotto digits you just know


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A2 初級

擁有完美信用的1.5%美國人是如何做到的? (How the 1.5% of Americans With Perfect Credit Do It)

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    林宜悉 發佈於 2021 年 01 月 14 日