On Track Credit Restoration

01/14/2022

E book Available Now!

10/29/2021

🚨 New Ebook Alert 🚨
Link in bio!! 🏁

06/13/2021

It's important to know what your credit score means. Here's a list of scores and their meanings.

04/25/2021

Invest in yourself, Build, and Conquer!

04/15/2021

You're probably comfortable with your credit score but are you comfortable with getting "APPROVED" for something you really don't want?🤔 Let's Tap in "FREE" Credit Evaluation On Me! 💥We Do the "WORK" for you! MESSAGE/COMMENT for More Info.

04/15/2021

I hope this help answer some questions about how long some negative items can stay on your credit.

02/28/2021

Over the past couple of weeks, I’ve gotten plenty of questions about Credit Utilization and how it affects your credit score. So, I decided to make this post to break it down! 🕵️

Firstly, the Outstanding Debt (aka Amounts Owed) Portion of your Credit Score represents 30% of your overall score! And, Credit Utilization is one of five portions of the overall Outstanding Debt Portion (hope I didn’t confuse you!!).😕

Simply put, Credit Utilization is the percentage of available credit on all of your revolving (or open) credit card accounts.

For example, if you have one open credit card account with a $100 credit limit, using $25 in one billing cycle will put your credit utilization at 25% (assuming your credit balance was at $0 at the beginning of the billing cycle).

With that being said, the lower you can keep that percentage, the higher your credit score will be!

Ideally, you want to keep you Credit Utilization on all of your credit card account between 1% and 25%. This will definitely help raise and keep your credit score right where it needs to be!

🕵️ I hope this explanation will help you make better credit decisions today and in the future!

Make sure to follow me for more helpful credit information so we can make 2021 the year that your dreams came true!

02/20/2021

Khang with .wtm is always dropping some great financial knowledge! 💪

Just like Khang says in this video, just changing something small in your daily routine like saving $5 instead of spending it on a snack meal from your favorite fast food restaurant can turn out to be a great investment over a week, a month, or even a year.

That small sacrifice can help you invest your way out of a bad situation with credit or any negative financial situation for that matter. 💸

Just remember: the key to sticking with any plan is discipline! 🔑

Do you know of a better way to save money to put towards your next investment?

Let us know in the comments below!

02/18/2021

Over the past couple of weeks, I’ve been seeing articles and angry Tweets about Credit Karma’s scores not coming close to matching up with the scores produced by the banks and credit card companies. So, I decided to do some investigation to see what’s really going on! 🕵️

For starters, Credit Karma and FICO (a data analytics company that 90% of lenders including banks and credit card companies use) weigh certain data points about your credit differently. This subtle difference can create a HUGE gap between the two scores.

For example, VantageScore (aka the scoring system used by Credit Karma) weighs your Total Debt lower than FICO. And FICO weighs your Credit History and Credit Mix (the different lines of credit like credit cards and mortgages) far lower than VantageScore.

Because of the different weighing scales, your scores most likely will not be the same on each system.

So…what can you do???

If you are just starting out with your credit and/or rebuilding your credit, Credit Karma is good for monitoring your progress and seeing how your score is affected by the changes to your credit history like applying and using a new credit card.

However, if you are planning to buy a house or a car within the next 3-6 months and need a loan to help with your purchase, you should use myfico.com. The score you get with them will be the same score you get with the lenders.

🕵️ I hope my Private Eye Skills helped you or a friend out today!

Make sure to follow me for more helpful credit information so we can make 2021 the year that dreams come true!

01/11/2021