Credit Repair

Is 748 A Good Credit Score – Why Credit Score Changes will Drop Your score | No More Churning?!

is-748-a-good-credit-score-why-credit-score-changes-will-drop-your-score-no-more-churning

Is 748 A Good Credit Score – How to Choose

So I have a credit secret I want to tell you guys, that’s been making me a ton of money but now with the new fico 10 rules, might actually not work anymore.

Now I know how to manipulate my credit score at will. In this video, I show that my credit score went down from 745 all the way to 631, which terrible, but now one year later I’m back at 748 and by march ill be in the high 700’s.

Later in this video, ill tell you guys exactly how I did, but because of the new fico 10 rules, this might not actually work anymore. So for this video, I’m going to tell you the main 3 highlights and how to manipulate it for yourself

Why Credit Score Changes will Drop Your score | No More Churning?!

Basic Idea: is to break down fico 10, and show you ways to manipulate it

Peace of Mind
This should be widely adopted by 2021 early or around summertime most lenders, and believe it or not, some lenders are still using Fico 8 that came out in 2009 ( so they don’t adapt very fast)
– Take these 10-15 months to improve your credit habits

1. They will take your entire habits over the past 24 months to determine your credit score instead of just looking at your credit score month to month.
Example:
Beg: Once a year I go ahead and max out most of my credit cards, I take most of the money out to invest, 100% of the time these credit cards have promotions to avoid interest. But then towards the end of the promotion, I just pay it off, and now boom, I’m back to normal.

Climax: When I first do this my credit score drops by 30% but I don’t care, because I’m not paying interest plus, I know in a few months it’ll be back to normal.

However, with the new model, it’s going to take into account my debt over the past 2 years, so that big squeeze I did, is still going to be showing up and it’s still going to hit my credit score.

Ending:
So that’s one of the biggest problems, however, this means you’ll have to plan a lot better. ( because I’m buying a house early 2021 or late 2020, so I’m not doing these tactics, but if I was, I would have to be more careful.

– So for Churners taking 3k one month and paying it back that same money, you’ll be good
– However, for people trying to use their credit cards, for investing, you have to know that it’s going take longer to wipe that slate clean and go back to normal.
But if the investment is going to make you a massive amount of money, then it still might be a good idea.

2. Revolving Credit Vs Installment loans: will affect your score
Example:
Beg: Revolving Credit is basically debt you can borrow, pay off and then borrow more, its revolving. Like credit cards

Installment: you usually take a large loan, mortgage, personal loan and so on. And you have to pay it back in installments, and cant borrows more until your done. ( unless you tap into the equity but that’s a different topic)

Climax: The big idea is that revolving credit is going to be one of the big players in having your score go up or down, as far as installment loans, it will stick affect you but not to the level of revolving debt.

Ending: However late payment on installment loans will still have a negative effect.

Key: IF you’re going to use your credit card, you’ll want to pay it off every month in full to help with your score staying up to date.
– So before your balance is due and before they report, pay it in full and that way, what they report will be a small balance.

3. It’s still the Same
Example: the same factors that make up your credit score, are still pretty crucial
Beg: There are 5 factors and some matter more than others but in realizing they all matter.

Climax:
Payment History: 35% ( once my student loans said I missed 30 payments, my score dropped like a rock ), we fixed the misunderstand but paying your bills on time is crucial, so set it all on auto-pay, and if you don’t have all the cash, then just pay the minimum.

Amount Owed: 30%, so this utilization, which now I have at 16% and will lower by march, but it’s going to matter more than ever, that that balance is coming down.

Length of history: 15%
Credit Mix: 10%
New Credit: 10%

All through this 35% is small, it still matters.

Conclusion: one key take away, is that if you were being responsible, nothing really changes, but if you took some risk, you still have 10-15 month to fix it.

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33 Comments
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33 Comments

  1. TommyBryson
    July 23, 2021 at 6:36 pm

    What do you guys think about Fico 10, Big difference or same old?
    * How to make money with a credit card***
    link: https://www.youtube.com/watch?v=pvoKfeeLv9I

  2. Eren Stevens
    July 23, 2021 at 6:36 pm

    Hi Tommy! Very nice content. I wonder how credit score changes will drop your score. I learn a lot in your stream. Any opinion on digital real estate? Building and banking websites that generate leads for local businesses. I went thru Ippei Kanehara's program a year ago now I am earning $5,500 coming in each month. My best site is a remodel site in Dallas, which brings me $1,500 by itself.

  3. Facez of 2morrow
    July 23, 2021 at 6:36 pm

    Get to the point already

  4. Chiquitita Martha kwesiga
    July 23, 2021 at 6:36 pm

    My credit score dropped by 145 and I pay all my credit fully monthly. I don’t know 🤷🏽‍♂️

  5. Marisol S. Gilbert
    July 23, 2021 at 6:36 pm

    I had a damaged credit issues which include the following: bankruptcy, eviction filling and outstanding rental balance, delinquent state and federal tax debts, a horribly low credit score which affect my credit report. Michael Gibbs from CREDIT PATCH UP LCC came to rescue me and He started the repair which he concluded within a week. He raised my score to 780+, payoff my debts and apply new credit cards with good limit. You can also search on [Gibbs@creditpatchup.com], He is a well known debt relief with a lot of experience.

  6. Malik Patterson
    July 23, 2021 at 6:36 pm

    If I pay my car loan off early will my credit make a huge jump? Or should I wait?

  7. Queen & Princess Channel
    July 23, 2021 at 6:36 pm

    Bro I just have 1 Fingerhut charge off account on my credit report for over two years I just open a self installment loan the don’t collect money until next month but I woke up on on credit karma the wasn’t no active change but my score when down 91 points put me in the 400 in Equifax why 😢😢😢😢😢

  8. Chris Topher
    July 23, 2021 at 6:36 pm

    Passive income

  9. Chanda
    July 23, 2021 at 6:36 pm

    Trying to improve my score to purchase a home next year… hoping this happens, still trying to figure it out!

  10. Shawn Doe
    July 23, 2021 at 6:36 pm

    So balance transfers on credit cards 💳 from banks will be absolutely useless

  11. DHV Vlog
    July 23, 2021 at 6:36 pm

    Wonderful, love your video. Let's support together, grow together. Thanks 🍷🌟🎁💖

  12. Zeek
    July 23, 2021 at 6:36 pm

    Yes u finally going to talk about this I was going to ask you if you're going to talk about the FICO 10 💯👍

  13. Jacob Williams
    July 23, 2021 at 6:36 pm

    Lol the title makes no sense

  14. Rahmat Yavery
    July 23, 2021 at 6:36 pm

    5 February 2020

    I will subscribe anyone’s channel if I gets subscribers from that person. Let’s help each other please…

  15. BLVK KXXNG
    July 23, 2021 at 6:36 pm

    I respect your content and knowledge that you put out – but Is there any way that I can check your creditability as far as being an accountant? Do you have a license or documentations? Do you work for a company or self-employed?

  16. Austin
    July 23, 2021 at 6:36 pm

    I withdrawed money from air corn it’s been taken out of my air corn account but still hasn’t been deposited

  17. Austin
    July 23, 2021 at 6:36 pm

    Can you tell us a technique to use a 12 month card and investing it

  18. Lemar DeLandro
    July 23, 2021 at 6:36 pm

    Passive income

  19. Kayode Openibo
    July 23, 2021 at 6:36 pm

    To buy a house

  20. Cee Bee
    July 23, 2021 at 6:36 pm

    I’m trying to buy real estate as well. So I’m trying to get my score to 750. I’m currently at 633.

  21. L Brent
    July 23, 2021 at 6:36 pm

    Get the best rates on all my loans.

  22. Pmonterrosa
    July 23, 2021 at 6:36 pm

    tesla stock crazy man

  23. R Winters
    July 23, 2021 at 6:36 pm

    Couple of typos in the description box

  24. Bobby Jacob
    July 23, 2021 at 6:36 pm

    Was wondering if you have ever tried to sell apparel on teespring, it’s free and you can make a lot of money

  25. darrylhaynes
    July 23, 2021 at 6:36 pm

    Thanks 4 posting

  26. CJ Mor
    July 23, 2021 at 6:36 pm

    Id just put larger expenses on a business credit card so it doesnt show up on my credit report

  27. TyTheMotivator
    July 23, 2021 at 6:36 pm

    Tommy Bryson….. IS A AWESOME WONDERFUL BROTHER HE TELLS THE TRUTH & TEACHEST THE TRUTH & SPREAD LOVE WITH IT… HE EVEN MOTIVATE & INSPIRED ME TO MAKE MOTIVATIONAL VIDEO ON MY CHANNEL…. LOVE YOU MY BROTHER KEEP DOING WHAT YOUR DOING🙏🏾😇🤟🏾.

  28. Sir Mr Jason
    July 23, 2021 at 6:36 pm

    Also I want to thank you for all your advice you have helped me a lot I appreciate it bro thank you keep it up

  29. Flyingdutch
    July 23, 2021 at 6:36 pm

    Anyone down to grow together

    I’m fast🔥🔥🔥

    I’m loyal

  30. Sultan’s Finance
    July 23, 2021 at 6:36 pm

    Interesting 🤔

  31. Sir Mr Jason
    July 23, 2021 at 6:36 pm

    Want to be able to acquire real estate buy house and start a business

  32. Stuart Tyrwhitt
    July 23, 2021 at 6:36 pm

    It’s cool to see the progress of your credit score back up to the mid 700s! I made a similar video for people just getting into credit on my channel so it’s nice to see some new ideas from someone with more of a credit history 🔥

  33. Sir Mr Jason
    July 23, 2021 at 6:36 pm

    780 to 820