Credit Inquires Don't Affect My Credit?

*Best Selling Vehicle in Us in 09 so far*
(Be Careful, when shopping for a vehicle) All do respect the dealer is just trying to give you the best rate and best payment)



Each determine your credit score:
- your payment history
- account balances
- length of credit history
- new credit
- types of credit in use

That’s a touch on the surface – More importantly I am giving you the NO B.S approach.

Specifically these are the primary factors that are considered in them making a mathematical formula to give you a score.

- Responsibility: are you paying on time?
- Accountability: how much do you owe on each account each month?
- Longevity: How long has each account been open?
- Versatility: How many different types of credit or trade lines do you have?
- Are you a Stuffed PIG? Of the available credit, how much do you “consume” on each account?
Tip- don’t be a stuffed PIG!!

Credit Inquires Don't Affect My Credit?

We all sometimes think that we are savvy consumer at one time or another, so we have all heard of the stories that if I have an Inquire on my credit it will lower my score.

TRUE!

They do effect your credit at least 1 point each inquiry. So lets look at this a little bit deeper. If you apply for a credit card via the Internet or by mail chances are that they will pull your credit and review only 1 time so this is not an issue. Where this comes into play to drastically effect your credit is either house shopping or looking to purchase a brand new vehicle.
I have had clients that only went to just test drive a vehicle and ended up with a credit score of less than 30 points. WHY, because they asked to see your license only to drive it and while you were waiting they were pushing your credit through 20-35 banks and finance companies that they have access to trying to get you financed and also trying to get the lowest rate.

(How does this effect you) well what if you have a 620 score and just wanted to test drive a car and maybe purchase it because your current car is paid off but still has less than 90,000 miles. It still has a couple of more years on it. BOOM you drop to 590 Fico.
You decide to hold off and the payment they were giving you could go towards a house purchase. You go to the bank that you have been with for years and your family as well.
They cannot approve your loan and they have to refer it to broker or a sub-prime broker. That’s what I did- Sub-prime Lending

What this means to you is that you risk possibly getting approved at all to having a high risk loan now and this could cost you thousands in interest because of this..

“INQUIRIES”

I always hear people talking about this and they always say. Credit Inquires don’t effect my credit?

I will inform you that Creditors who see a large list of inquires on your credit report will be more likely to decline your application. This is the second part of “Responsibility”
You need to ask yourself – Is it Responsible to go out and fill out multiple applications at once?

Vehicle Shopping is the WORST! The credit scoring system is supposed to be set up so that multiple credit inquiries within the same industry or same transaction do not lower your score. However in my experience I have personally witnessed this and seen it happen to my Real Estate Clients.

The good thing is that some businesses that do lend money can on their back end override or state a reason why there was this many inquiries. For an instance I had a client buying a vehicle and he was the last to stop at my office. He went to 4 different dealerships and they pulled his credit 34 times.

Results 34 Inquiries. Ooucch
(why would they do that) in his case his score was too low so they were trying to get him his best rate and end result ran it to 34 different banks.

Now we did get him financing but I would recommend that you search online and make an educated guess when the time comes for a new vehicle.

Science of Wealth

Thoughts from a book I'm reading:

There is a thinking stuff from which all things are made, and which, in its original state, permeates,
Penetrates and fills the interspaces of the universe.

A thought in this substance produces the thing that is imaged by thought.

Man can form things in his thought, and, by impressing his thought upon formless substance, can cause the thing he thinks about to be created.

If a doubt comes to you cast it aside as sin.

Do not ask why these things are true nor speculate as to how they can be true, simply take them on trust

In order to know more, do more and be more we must have more: we must have things to use, for we learn, and do, and become, only by using things, We must get rich, so that we can live more.

Your purpose should harmonize with he purpose that is in All.

What he wants is that you should make the most of yourself, for yourself and for others and You can help others more by making the most of yourself than in any other way.

You’re first, and best thought to the work of acquiring wealth

Get rid of competition, your first thought is to create no compete for what is already created!

No man has anything of which you cannot have a like.

With your mind all things are possible. I started with 1 book and now it leads to over 500 books in my collection and this book- The Science of Wealth it is written in old English and is a hard read that is why I have to take notes. I just thought I would pass some knowledge on.

Credit Card Companies Say:

The only thing, and I say only thing that I agree with Obama, is his new credit card laws. I will go in depth as to what exactly each law says and doesn't. For now please read all your mail and literature that should arrive with your statements. Why you ask? The credit card companies are FORCING through all changes before the 9 month as to when Obama's rules go in effect.

For Instances most companies at will are changing the 2% min. payment up to 5%. How does that effect you? If you have just 1 credit card with a balance of $5,000 dollars - 2% is $100.00 and now it will be $250.00. What if you have 2 cards.
What if you owe the national average of $9500 again min. was $190.00 and now $475.00.

This isn't even a touch on the monthly rate or the APR in some cases up to the state max of 29.99%.

At the current moment they can do this without a notice or slip the notice in the bill. And trust me, it will not be in bold numbers. More to come!

Plus stay posted for Part II:

My Life Part I:

My Life Part I:

It’s time before I go to deep into all the credit it’s time to tell my story and my background before I try to pitch that I am some business and credit expert.

Let me just say, “I am”, but I was never this serious about any of this stuff let alone when I received my paycheck I never had the feelings I do today. Now, what would I mean by that. Back then about 10 years ago, I couldn’t afford college so I got a full time job at State Farm Insurance in the MailRoom. Just outside Columbus, Ohio there is a regional office. I felt my first wrath of corporate America at its best & the family values when it comes to a so called Good and Stable JOB. Later I would learn that JOB stands for JUST ABOVE BROKE.

My job at the farm was pure factory- I was in the mailroom. I was so excited to earn 9 dollars an hour. I was living at home, trying college at night, and blowing my money in 3 days. Mostly Beer & Golf. Yes I was 18, but I had friends that where much older. I’m not perfect, as you will find out, only human! I got the itch like every 19-year-old. I wanted my own apartment. With no one helping me on my personal finances I would soon be in trouble. I got my apartment but soon realized making money was key.

I had a friend that got all the job classes at the farm and their salaries. I wanted to make 30K in two years. A 12 thousand-dollar raise in two years was doable. I found that I could post out to a position in claims as an inbound operator and pass it on to the claim reps and claim processors. The operator salary started out at 24k per year (a six thousand-dollar raise) NO COLLEGE degree needed, just SOME. Boom I get it.

In 1999 I was taking an intro to business class and I ran into a beautiful women named Jen. Love can get expensive.

Update- that is never ending yet there is light at the end of the tunnel


Hello again! In an economy that is so up and down it is very important to get your priorities in your own house hold on track. Along with society it is very acceptable to make excuses and blame all circumstances except yourself. This is true NO BS so it may hurt alittle bit.
“You are exactly who you are and what you are because of your beliefs and what actions you’ve taken along the road of hard knocks”

It took a lot of time and roughly two years to finally suck it up and look long and hard in the mirror at myself!

THIS IS THE NO BULL SH&* CREDIT RESURRECTION AND THAT’S WHAT YOU GET.

Throw all the excuses away. Go to the mirror and take a long hard look at yourself with a notebook and take some notes be totally honestly with yourself and tell us why you have been shafted in your past? Its OK to just let loose.
(I could charge a monthly fee for my book, newsletter and services and people WILL pay, but its important to find out exactly who you are this could take many months! And with that you will still have my book and my emails)
NOTE:
You can buy all the seminars, buy all the books, talk with all the great people, and tell lies of what you do! What business you run! What Network Marketing Company you’re a part of? What you actually own! But the truth is that you have to look at yourself in the mirror and better yet you must look at your kids and tell them who you are.

That’s why it took me around 2 years to discover who I actually was.. So let me tell you my excuses”

With the landscape changing drastically in the economy, it’s hard to see who you trust and who you don’t. Again- As I speak about it in my ebook about FEAR its simply – False Evidence Appearing Real. Yet there is a knee jerk reaction when it comes to your own money. (I understand, but also in my experience- you need to take control of your FEAR.

From my experience being a great Salesman in Insurance, Real Estate and Banking,my experiences of overseeing other salespeople in my industry is that the salesperson that does not let you sleep on the information is a bad rep. Plan and simple. Don’t get me wrong- Have I done this – YES- I believe that the product that I sell at the moment is the single best thing in their life and if and only after if they sleep on it and decide its bad. It’s still a great product…

BUT.. Here is where I was wrong.
If you push a product as a salesman, you should do the exact opposite of what I mentioned before! Give the customer an offer that they can’t refuse- but let them decide within 24-48 hours and then follow up. 9 times out of 10 its sold and not only is it sold to a very happy customer its sold to a customer that will stay with that company and will refer business over and over year after year.. To many times I see the sale in the Real estate business, Insurance Business and banking industry go for the quick profit but don’t understand the true value of the LONG TERM CLIENT.

What you don't see as a customer is the pressure from above pushing, pushing those numbers creating only 1 avenue for the rep. DO IT, or lose your job. If you become a member and purchase my book and all my extra products. There is the "Credit Landmine Prevention Audit" That outlines your personal finances so you stand face to face in the mirror with your finances! Along with the first 100 that order get the CLPA with an exclusive 1-1 with yours truly.

Faith in oneself.. is the best and -PART I

Safest course... Michelangelo

This is a genius from the past, and many of of us have never even heard this quote. Why?

When it comes to us, when need to have a personal discussion within ourselves when making purchases. The same discussion within our voices within, as if we were at the bar wanting one more drink, same as a married man or women gets an invitation from another, same as young man gets a thought to steal, same as business man gets a thought to be unethincal.

Trust yourself, and that small, quite voice that sounds like 50 miles away. If your not religious then follow the guidlines of what is Right and Wrong! Does it make sense to purchase that item on a credit line that has already a heavy balance?

See they trick you as a business and they have no default by law, but you do by making those purchases.
Ex: You have all heard of the 0% financing for some many months-- Granted sounds like a deal! Right?

CAN BE, IF YOU PAY IT OFF BEFORE THE TIME PERIOD ENDS.
(Why is that in caps) I have to disclose that it is important.

Many don't know that if you charge a 1500 dollar tv at 0% and then say you have 1 month before that expires you have a balance of only 100 dollars. Your next statement will get hit will the interest from the "ORGINAL" amount borrowed???? WHAT???

Thats right the interest of about 20 or 30% is added on your next bill based on 1500 dollars not what you have left.

I used to work for a company that did those finances 0% things. We had a list every month that all the folks in the office could call on and solicite loans to refinance that amount.
Here is an example of the call: "Hello this is jason with XYZ financing, I see that you have a 0% financing on that big screen that is set to expire in exactly 32 days with a balance of 720.00, would you be interested in stopping in today to look at possibilities of refinancing that and lowering your interest?

NO, I have a 700 fico score quit calling- customer
Well, then I suggest you do a balance transfer- Sales Man
WHY- Well then you will have an interest bill of X amount of dollars because it is based on the ORGINAL amount not what is left and customer interest on that 2500 dollar tv, and 1000 dollar surround sound can be pretty pricy. Are you going to pay that off in 32 days.
No, they have cut my overtime.
Great- when can you come in for a review, and bring you paystubs and drivers license...

Yea I quit exactly 1 year after that..

I had faith in myself, I was scared but I knew it was a safe bet...

Believe in yourself,
I know that once this gets up and running they will be comming, I'm ready because not doing business ethically, has got the current economy in the problems that it is in.

Too be continued...

"Credit Professor" aka credit crunching, cigar smoking, crazy man

Take the Time, To Realize

THE TRUTH!

Serisouly thou, take time to review your current financial situation. Some people act as if this is very hard to do, and that they have no time to access thier own "Financial Statements"

The redneck- spends more time on what truck is the right fit for him.

The sportfanic- spends more time figuring out which magizine is best for fantasy sports

The gangsta- spends more time trying to look expensive and what rims to buy

The broke business man- spends more time trying to look successful

The single girl- spends more time trying to find the right outfit for an night out

The rich W2 man aka employee - spends more time trying to find out what toy he can buy

I HAVE NOTHING AGIANST ANY OF THEM AND EXCEPT FOR THE LADY I HAVE BEEN ALL OF THEM AT ONE TIME OR ANOTHER

I'm just hoping somehow you can relate.

Almost all of us go to work day in and day out get paid and blow it. Some blow it before it comes in.

I just want you to realize where you stand, and where you want to go.

If you don't know that, then every step along the way will be tuff. It might not be this month or next but it will get tuff.
Some people I meet with don't want to do this because they will see the TRUTH and sometimes that hurts. I can't say it enough its better to get a gut check now, Than When Its TOO LATE!

Email me with questions,
The "Credit Professor" AKA Credit Crunching, Cigar Smoking, Crazy Man!