Everything You Need to Know About Credit: Build Credit, Credit Cards, Child Credit & Business Credit
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- čas přidán 11. 06. 2024
- In this eye-opening episode of Earn Your Leisure, we had the pleasure of interviewing Shonda Martin, an expert in personal and business credit. Shonda delves into the intricacies of building a robust credit profile, sharing invaluable advice and strategies that go beyond just the numbers. Tune in as we cover essential topics including:
- The significant role of personal credit in business credit development.
- Effective ways to handle late payments on your credit report.
- Why a healthy credit profile matters more than your credit score.
- Achieving financial flexibility with a 680 credit score.
- The risks of co-signing and how it affects your credit.
- Regularly boosting your credit limit for financial health.
- The impact of student loans on your credit score.
- Understanding the true nature of credit card usage.
- Strategic payments to enhance your credit score.
- How high credit card balances can lower your score.
- The right time to start building your child's credit.
- Common parental mistakes in managing their child's credit.
- Knowing when and why to close a credit card.
- The optimal age for adding your child to your credit card.
- Steps to building a strong credit profile.
- Key FICO scores to be aware of.
- Solutions for managing credit card debt.
Don't miss out on these crucial insights that could transform your financial journey. Whether you're repairing, building, or maintaining your credit, Shonda's advice is a game-changer.
#EarnYourLeisure #CreditTips #FinancialFreedom #CreditScore #PersonalFinance #BusinessCredit #CreditRepair #FICO #DebtManagement #financialeducation
0:00 Intro
1:22 Shonda’s Start with Credit Repair
3:17 FICO’s Credit Certification
4:52 The 3 Main Credit Bureaus
7:17 Factors that Affect Credit Score
10:33 How Credit Utilization Works
11:49 First Step to Building a Healthy Credit Profile
15:12 How to Effectively Use Credit Cards
17:51 When to Ask For a Credit Limit Increase
19:58 How to Avoid Pitfalls
21:52 Establishing Credit at a Young Age & Authorized Users
28:50 What Credit Score Should Everyone Aim For?
31:49 Credit Myths
34:30 How to Challenge your Credit Report
37:55 How Long Late Payments Stay on your Report
40:27 Common Co-Signing Mistake
42:41 Credit Consolidation Explained
45:22 Any Credit Score can be Fixed
47:00 How Rising Student Loans will Affect our Future Credit
49:27 Options For Dealing with Bad Credit
55:36 Business Vs Personal Credit
1:00:14 How Many Credit Cards Should You Have?
1:01:47 How Often Should You Check Your Credit?
1:03:24 How Shonda Teaches Credit Repair
1:04:39 Outro
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them
It's usually true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this coach?
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I googled her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
She’s a GEM….
Her energy will take a person out of
Financial Mental depression ‼️‼️‼️
Facts. I'm motivated
im 21 turning 22 in 3 months and im proud of my 751! definitely going to be using the advice from this video to reach a 800!
I can get you $50K in credit
You should be!! 💪🏽 make sure to use your knowledge to help your friends and family.
way to go
Help a brotha out
@@user-kd3ou7dg8cI can you help you man I’m 23 I got a 780 score tryna help as many people as I can with personal finance and credit
This was awesome! Thank you for having me!! 🙏🏾
MAKE THE FACEBOOK GROUP ACTIVE AGAINNNN😭😭😭I understand the people who asked questions unrelated to credit but come onnn
This was a blessing!!! May God continue to bless you!!!!
You did Great!
Hey Shonda! I loved the interview. I’ve done videos and workshops on how to build and maintain good credit and the correct way of using credit cards. I also help people individually. And I am so happy to know that a lot of what you said is what I teach. It confirmed for me that I’m giving correct information. I also learned some new things. I will definitely be following you 😊
I love you Shonda such a smart woman ❤️🔥
This lady here is full of gold. Pure gold. Protect her at all cost 😮💨😮💨
Great information. I added my children at 14 and my kids had a credit score of 700+ by the time they were 18. This information definitely needs to be shared
My credit took a big hit a few years ago and I have been steady trying to get back on my feet , I am at 680 now and still going , I learnt a lot from your videos and would love to learn more !!!keep doing what you do boo !!
A good recommendation would be BUSINESS FUNDING USA ORG
A good recommendation would be BUSINESS FUNDING USA ORG
A good recommendation would be BUSINESS FUNDING USA ORG
I am familiar with one which is business funding usa org , they are the best to me
I am familiar with one which is business funding usa org , they are the best to me
Shonda did an amazing job explaining everything related to credit cards, credit score, and starting and rebuilding good credit. I love this interview so much!
No gimmicks, no fillers, non nonsense!
Just real information to help consumers better their financial situation/ decisions, daily !
Empowered people, empower people. Thank you for helping the black community not only survive but thrive 💫✊🏾💫
Once I got established with a house I paid off and closed every credit account built an emergency fund and borrow from myself..No debt other than my mortgage..
12 minutes in and i am IMPRESSED
she is giving knowledge, not vague responses, shes giving percentages, breakdowns, dates, actual numbers
Very good
Yea she does this on the daily on instagram live and TikTok live. That’s why I love listening to her she’s always giving free game.
God is sooo good. I have diverse credit on my prayer board and my goals for 2024. I'm setting myself up for financial freedom in the next couple of years. I'm geeked I came across this video. I'm on the right path, i learned a lot in this video. Thank you for sharing such vital information about credit reporting and history. Now I gotta send this to everybody I know. God bless 🙌🏾 🙏🏽
and I mean literally sending to everyone I know and love! 😂❤
This woman knows what she's talking about!!! Trust me!!! Listen to her!!!
“Apply for a credit card BEFORE a loan” yesss. I’m bummed this information wasn’t available as I was growing up but sooo Grateful I can pass this to mine ❤
that one hit hard for me too. Definitely making sure my children don’t make that same mistake I made and was ACTUALLY TOLD TO DO by my mom lol. I don’t hold it against her tho because I now know that she just didn’t know either 🤷🏻♀️ Now, I am just so grateful that we are changing things for ourselves and our bloodline(s)! ❤ our kids gone be GOOD GOOD!!!
When I was at 17, an old black man told me “I’m not rich, but I have good credit and I can buy whatever I want.” Changed my life
Did he have a job
@@Options_Trader11he owned a car dealership
@@Black____you’re asking if having good credit is a good thing? 🤔
@@Options_Trader11of course he had a job. He was the manager of car dealership. How do you have good credit without a job?
Wish I learned more but learned about establishing credit ,even had a friend tell me and help me in highschool but dang got it all messed up by cosigning.NEVER COSIGN
High school seniors should watch this
Out of everybody I’ve ever heard speak on credit, the way she speaks is the most fluid out of them all. You can tell that she is a professional credit orator.
I noticed that too. You can tell she is very knowledgeable.
I agreee!!!!
In just 1 hour I learned about so much about credit that will last me a lifetime. You all touched on every question I had especially for the best time to establish credit for my children. I will be watching again to take notes and take action on improving my credit worthiness.❤🙏🏿
Hi, Is there something specific you’re looking for?
No worries! To find them website, just do a quick online search using their name. Easy peasy!
I’ve watched plenty of credit repair videos but what she just dropped was top tier gems mixed with gold!!
Only 42 min into the video and I have learned sooo much thank you for sharing ❤
Been listening to Shonda for a few years. She’s very informative.
This was amazing!!!!! And the guys asked great questions!
Shonda is amazing. She helped me understand credit better because she explains it in the way that you can understand.
She hit every note. I like her style and thought process on building and rebuilding credit. Especially the part on not just concentrating on a score as opposed to focusing on your profile and the data breakdown. Thx Shonda.
THE CREDIT QUEEN IS IN THE BUILDING!!! Thanks EYL for this one!! MS MARTIN KNOWS HER SH**
This was is by far my favorite credit teaching interview! I’ve seen different people come on the show but the way she broke this down was very digestible!
One of the most valuable episodes. This young lady is an absolute beast! So knowledgeable!!
I want to start investing but don't know where to begin. Any advice or contacts for help?
It's wise to seek professional guidance when building a strong financial portfolio due to its complexity
Talking to financial advisors like Naomi Dean to reshape your portfolio is a smart move.
Certainly! I diversified my $25k portfolio across different markets.
I made a net profit of around $115k by investing in high dividend yield stocks, ETFs, and equity
That woman is a genius
I have watched many videos on this subject, but this is the first time that I've heard some of the specifics that she pointed out. 👏
You go Shonda! Your integrity in this interview is A1!
THIS IS BY FAR THE BEST VIDEO TO WATCH ON CREDIT, CREDIT WORTHINES, CREDIT USAGE, AND CREDIT REPAIR!!!! THANK YALL!!! MAY GOD BLESS!!!❤
Thank you so much for providing much needed and very valuable information.
This is my third time watching this episode today and all day ive been taking notes while at work lol. Theres alot of gems here!!!
mulitple gems dropped, this was very helpful. thank you, guys & Shonda !
This was amazing I took three pages of notes and I’m subscribing to all of this 🔥🔥🔥 Thank You
Grammy award winning record and the mix is super simplistic, 🐐, he didn’t adjust much I love it man
This episode is GOLD!
***SHARED***
This was simply Awesome. I love the questions that were asked. Very down to earth with real life questions. Shonda was very thorough and informative. You guys were extremely helpful. Common sense approach with no one talking over your head. I will be looking for more to come.
I need credit repair and business funding , please share recommendations ❤
I am familiar with one which is business funding usa org , they are the best to me
I am familiar with one which is business funding usa org , they are the best to me
business funding usa org work better than most of funding platform , no membership just straight to the point which i like and prefer
Thanks EYL for bringing Shonda back she broke it down dropped them nuggets so I appreciate it guys keep it up
Omg this was so good! She’s so educated and articulate, I was able to digest all of the information 👏🏾👏🏾
Long overdue! Shonda is awesome!
Amazing informative interview! Thank you, EYL... Keep up the great work!!!❤
Pay your cards down EVERY PAYCHECK, EVERY 2 WEEKS
This was phenomenal. Excellent breakdown for the credit score.
Thanks to shonda very informative
The mistakes I made she pointed out clearly
What really helped me was :
Clearing any overdrafts and debts 1st.
Calling the creditors on time telling them if i could or couldn't pay on time to reschedule on time
Correcting any mis information
Applying for less applications in a short time span
Using credit builder cards via direct debit to pay and boost my points monthly by 40 points
Linking my bank account to my credit links
*staying in one house without bouncing place to place, shows stability and keeps your information on government electoral records accurate.
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2023
.....
..
I'm 37 and have been looking for ways to be successful, please how??
Sincerely speaking. I will continue to trade and stick to expert gla dis daily signals and guides as long as it works well for me.
Woah for real? I'm so excited. glad is john ny strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
she's mostly on Telegrams using the user name.
gladisfx1 ..... that's it
Fire episode!! I will be rewatching and rewatching!!
Following her two years ago is one of the reasons I’m a homeowner now. 😊
Handle? I couldn’t hear it well at the end
@@drpsych3 shonda Martin
Yesss Shonda !!!! Good to see you on here ❤❤❤
This is the first video that made 100% sense, even discussing having a short term loan and long term loan to aim for more borrowing power. I am literally going to set those up tomorrow. I didn't even know the tip of "just" putting a subscription on a card. I will go through her for my mortgage approval. This podcast was liquid gold!
Thank you for sharing this! Very helpful!
A legit credit advisor! Happy for Shonda! 🎉
She is excellent. All this free information. Definitely sharing ❤
Alot of great information! Thank you.
She’s a gem 💎 dropping gems
This was super helpful! My credit took a hit when I was out of work for a while. I wasn’t able to make all my payments on time. I already pulled my credit reports from the three bureaus and I plan on going over them on my day off. I’m am definitely going to be making some phone calls for late payment forgiveness and work on my dispute letters. I really want to clean up my credit so I can buy a townhome in the next 5 years.
Wow 😮Thank you!Thank you! 🎉🎉 U are speaking my language. I appreciate it for credit class.
She’s the TRUTH!💚💚💚
I have been following her for yearsssss
Great Episode!!
Shonda is the best! Thank you for sharing so many gems 💎
I have to go back through this and take some notes
Some of these things I already knew or heard before but she definitely explains it so much more clearly. Great information.
concerns with credit are to be directed to her there okay?
click on “newest comment” from the comment section to see this..
GmalL -
Roadto750llc
Such a beautiful and informed woman, very helpful information. Thanks for sharing!
Love this so many pointers❤
Love her, this was so needed. Thank you for this 😮 I got to now go apply it
I really appreciate you and this information that been knew but thank you for breaking it down for me to fully understand the information 🌹🌹🌹🌹
Very very informative and confirms/denys good and bad information that I have heard!
Thank you for this video 🙏🙏 y’all just blessed me with some knowledge ✅ sis was preaching
Taking notes & saving this video. So informative and reassurance of the things I’m doing correct.
Wow a lot of gems glad this came on my feed
This is very helpful. Actually changed my perspective on credit as whole.
Great episdoe!! 👍 thanks for that info
I truly love her makeup ❤
She is speaking veryimpt I for taking notes and will share w the parents too. Credit is impt!
Glad I tuned in 🎉
Amazing job 👏 breaking down this for us viewers.
❤thank you for this interview
Shonda is the best!
Dam I remember when she was just in Facebook dropping gems this shit is crazy I’m so happy for her
Great interview and great questions.
Been watching her for a while she’s awesome
This video is so enlightening . I am so happy this came across my suggestions.
This is such a great interview! Lots of action items taken away.
Ty for all this information
thank you for all the gems
keep up the great work guys
This was like DO DAMN INFORMATIVE! THANK YOU!
I have learned today about credit an building credit 🙌 Well needed $$$
Old Skool EYL Podcast Interview format! Welcome back
This was really a great interview with thank you all ❤
This was a great video! A wealth of information! Thanks for this!!
Thank you omg 💯% make sense now.
This information is life changing and I'm going to use this to educate and teach my daughter and family
She's the best 💪🏽
Very helpful video!
Amazing job!
Great episode!❤
If there’s anyone here who knows a credit specialist I am in dire need of one , I am tired of constantly purchasing ebooks and memberships for something that never actually works it is extremely tiring 😢
A good recommendation would be BUSINESS FUNDING USA ORG
A good recommendation would be BUSINESS FUNDING USA ORG
A good recommendation would be BUSINESS FUNDING USA ORG
I am familiar with one which is business funding usa org , they are the best to me
I am familiar with one which is business funding usa org , they are the best to me