Step 1: cut em up.
Step 2: close em out.
Step 3: use the dual account method we teach in the book. (Swipe left)
“How do I build up my credit report??” A question I get on a daily basis in my line of work. The answer takes a bit of reprogramming to understand, however.
Brace yourself, I am going to explain something to you that no one wants you to know:
With a clean credit report and money in the bank, you can do anything on earth. “What? No! Blasphemy!” Yes indeed. But whats probably less heard of? Me explaining to you that the way to get said money in the bank is to stop “building” and otherwise using credit.
Your credit report is simply a list of public filings, loan obligations and how you’ve handled those loan obligations. There is nothing to build up. Those of us with money, keep our reports clean with little as possible on it. Again – with a clean credit report you can do anything.
What most people refer to in”building up” is a credit score. That credit score, which calculates the riskiness of providing you a loan, is completely worthless in wealth building. Poor people are taught to stay in debt with loan products while the wealthy lend those poor people money and then teach their kids to invest in the companies/banks that lend those same poor people money.
Instead, what should be focused on being built up – for anyone wishing to achieve wealth – is your investment portfolio. That portfolio should be funded with cash as I do mine. Our courses will teach you how to do so when you’re ready.
Recap: your credit report is to be kept clean with no new entries. Your credit score is worthless in regards to wealth building so never attempt to build anything on it.
Again – the only reason to use a credit score is to get into debt you shouldn’t have been in in the first place.
Your cash reserves and investments are what you should focus on building. When you pay no one interest each month, you’ll see the snowball effect of a positive cash-flow, investment appreciation and compound interest. Its amazing.
From this day forth, you can pay attention or pay interest.
Wealth is Simple.
Poverty is much more complicated. - 19 hours ago