Top 10 Reasons You Might Have Poor Credit (It’s Probably Not Your Fault)

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What are some of the reasons why people would have poor credit? What I wanted to do was I want to take some time to read off 10 reasons why people may have poor credit. Ten reasons why you may have poor credit that may not be your fault. More importantly, some things sometimes are out of our control when it comes to credit, something that we may not have known what happened. I’m going to read these off to you and I’m going to help you with a solution. Let’s get right into it.

Let’s talk about the first reason that somebody may have bad credit. You got laid off.

Maybe you got laid off and you didn’t have a job. When you don’t have a job, what are some things that we can’t do?

Now, this is no excuse for not paying your bills because you get laid off, but sometimes you get laid off and you got more important things like the roof over your head, making your car payment than you do with paying a hospital bill.

Sometimes your credit can go down the toilet when you get laid off. That’s number one.

Number two, co-signer ruined your credit.

Have you ever signed for a car? Usually, this is a car or a mortgage.

You are co-signer, you got a family member, son, somebody younger, maybe older, whatever the case is, and you signed for them, they didn’t make the payments.

Guess what happens to your credit? Bada Bing, bada boom. That’s exactly right.

Your credit gets shot because of somebody else’s poor credit habits. That’s number two.

Number three, somebody with the same name, could be junior, could be a senior, somebody would have a similar name, credit-wise apply for something, doesn’t make payments, and it falls back on you.

This happens day in and day out. We see this where the names are similar and it gets attached to the wrong person.

Let’s talk about number four, identity theft.

Now, this is harsh because your identity gets stolen, somebody uses your name, creates a social, creates a driver’s license, and they’re out running up credit cards and they’re out running up your credit.

Maybe this CPN bullshit where these people are getting these fake numbers and it attaches to your real social.

What do you think is going to happen when they’re out there applying for credit cards and then smashing these people, smashing these banks? It’s identity theft.

That could happen to you unbeknownst. Next thing you know, you’re getting collections and late payments, and it’s not your fault.

This message is, it’s not your fault, these top 10 things.

You had died in the family. Sometimes do you have a death in a family and you have to put your priority with that.

Maybe you’ve got your burial costs, you’ve got all their costs that are associated with the casket, other things that you have to put your money to because somebody just passed away.

Maybe that took priority over making your payment on something.

Let’s talk about the next one. You guys pay cash for everything.

Somebody may have poor credit. Here’s a different angle.

Maybe you have poor credit because everything you’ve done in your life was cash-based.

I never financed a car, I never financed the house, I’ve never had any credit cards, I’ve just bought everything with cash.

How well do you think your credit’s going to be? Not good.

Again, maybe it’s not your fault because you didn’t know, but you’re not building credit because you’re using everything for cash.

Here’s another one, medical bills went to collections.

Medical bills went to collection, but what you thought was the insurance company was going to pay it.

They were supposed to pay it, but the insurance company didn’t pay the medical bill.

What happens to your credit is your credit gets shot because you think it’s paid.

You see the collection and you’re like, “What’s going on?” Not your fault.

Sick family member.

Maybe they didn’t die. Maybe they’re just sick and you have to go through, God forbid something like chemo or something catastrophic. Life things happen.

Someone gets sick and they’ve got to go to the hospital.

You’ve got the bed stays. Maybe they’ve got pneumonia.

Whatever the case is, you’ve got to put this money towards helping your family member and paying your bills comes second.

Lastly, student loan debt.

You’ve put yourself in a position where you’ve tried to better your financial future and better your education so you can come out of college, come out of high school and put yourself in a position to go to college, or coming out of college and put yourself in a position to get a good career.

But you’ve got student debt that’s literally up to your ears.

There is a way out. There is a way out.

Here’s what I’m going to do.

I’m going to add one more. This is going to be a bonus for you guys.

This one is not your fault and it’s what we’re going to talk about today.

Number 10, we’ll call it number 11 bonus is lack of credit education.

How many schools have you been to?

College, high school, grammar school, where they teach you how to manage money and how to pay bills, how to finance, how to leverage, how to keep a good credit score?

How many schools teach you this? Let me go one better. How many parents teach you this? What mommy and daddy taught us may have not been correct. Maybe they didn’t have great credit. Maybe I didn’t have a father. Maybe I am a father figure to be able to teach me credit.

These are things that are not your fault. It’s not your fault that you didn’t have somebody to help you and you didn’t have a school to teach you.

Credit education between all these 10 that I just shared with you is the absolute number one thing because let me tell you something, if you had credit education, none of these other nine things could happen because your credit education oversees all of this, because if you knew what to do, how to place your money, how to leverage your credit, you wouldn’t have to worry about that other nine.

First and foremost is understanding the Credit Game.

We’re going to talk about that in a second.

But let’s talk about this for a second.

Let’s talk about number seven. You paid cash for everything for you guys who are paying cash for everything, who have never had credit, one thing to start your credit is to add tradelines. Okay?

Here at Wholesale Tradelines, what we do is we add tradelines your credit to give you that boost without you having to go through the secured credit card route.

A lot of people that get into credit, they’ve never had credit before, never had a car, never had a house, never had any credit cards.

The first thing that most people teach is to let me get a secured credit card.

That’s where you put down a couple of hundred bucks and you make payments to Wells Fargo, let’s say use them for an example, and you get a $300 secured credit card, and then you’re making these monthly payments.

Finally, after 12 months, they’re going to decide, okay, cool, you’ve made enough payments for us to say, “You know what, we are going to make it an unsecured credit card,” so you just wasted, it’s not a waste, but 12 months.

Who has time in 2019 for 12 months?

What do tradelines do? They give you that fast boost increase.

We can add whatever credit limit and whatever age you want to instantly increase your credit score. Not waiting 12 months, 24 months.

No one has time for that. Let’s put the tradelines on and give you that instant score increase where you can go out and stop applying for the secured credit cards and get something that’s an unsecured credit card.

How would you like to bypass getting a $300 secured card that you have to put your own money into, and be able to apply for something, and potentially get limits in the thousands unsecured without having to put any money down?

That’s what the tradelines allow you to do. That’s going to go ahead and negate number seven.

The other one I wanted to write down is these medical bills.

We have our Elite credit repair. Let me share something with how the Elite works fastest on the planet.

We can challenge anything inaccurate, obsolete, incorrect, unfair, unduly on your credit report.

That means that hospital bills that the insurance company was supposed to pay, but they didn’t. Things on your credit report that you’re looking and you’re like, “That’s not me. It’s unfair. It’s not me.” Maybe, John Smith, your name’s John Smith and something’s on your credit report from another John Smith.

Unfair, unduly, incorrect. Sure. Sure, it could be. I see a hospital bill, wasn’t I. It happens.

Guys, there’s 70%, nearly 70% of Americans have something on their credit report that’s not supposed to be there. That’s not them.

Unfair, unduly, incorrect, erroneous information on your credit report, that you look and you’re like, “That’s not me,” we can challenge that information for validity and potentially get it removed.

If we can’t remove it, nobody can remove it. We’ve got a phenomenal software and proprietary methods that we use to remove stuff that is called our Elite credit repair.

That takes away that.

Let’s talk about the third thing and the most important.

The most important thing is that you guys understand how credit works.

A lot of clients don’t understand, they were not put in a position where they had a family member that had great credit. Just like I told you, those 10 things that we just spoke about, we could put those out the window if we understood credit.

In other words, if one of those things happened to me today, it would not affect my credit or my financial future. Why?

Because I understand how credit works.

This is basically why I’ve created the Credit Game.

It’s an interactive video series where we’re going to teach you guys exactly what to know, how to do everything. I don’t put these videos on Tradeline TV.

It is exclusively called the Credit Game. There are a lot of videos, a lot of videos, hours, and hours, and hours of videos on how things work, why they work, how credit works from the basics to the master.

What is a credit score, all the way up to how do I leverage the highest credit limits to be able to keep my inquiries low and my accounts low so I can beat the 5/24 rule?

Some things that we teach in this Credit Game on how to sell, and how to rebuttal, and what is credit in general?

There are so many things about credit you guys would … How do I apply for a vehicle?

How do I get credit cards without even checking my credit? How could I have 30 credit cards if I wanted to and beat the inquiry rule where it’s not going to flag my internal credit system? I teach you all that.

It’s called the Credit Game. Okay? It is a video interactive series, which means that at the end of each video, you’re going to have a few questions and you’re either going to pass or fail.

If you fail, you go do the video again. If you pass, you can move on. In the end, you’re going to get a certificate showing that you’ve passed.

The awesome, awesome, awesome program I put together. It’s going to be $49. I thought about putting it out there for $250 and then I said, “You know what?

I want to make sure that these people have skin in the game. Let’s do it for 49 bucks.” For $49, this is life-changing video education, everything you need to know about credit.

Like I said, from the very basics, all the way up to mastering credit.

If you guys are interested in the $49 deal, again, it was 250 but I said, “I’m going to put it out there for 49 bucks to help you guys out.”

If you’re interested and only serious about doing this, go ahead and say below in the comments.

Just put, “Credit Game,” and then we’ll reach out and get you taken care of for the 49 bucks.

Then we’ll get you over a username and password so you guys can get set up.

If you’re interested, and only if you’re interested in serious about it, please post comments, “Credit Game,” and I’ll make sure I get it over for that discounted price of $49 because you guys are watching this video today.

Other than that, I truly appreciate being part of Tradeline TV and our company, Wholesale Tradelines. We’re here every single day. I do these videos every day to teach you guys what you need to know about credit when to do credit, and that’s why I put that series together. It’s you can go back to it as many times you want, watch the videos as many times you want, and then get certified at the end, and have that certificate showing you have passed.

Thank you guys for watching Tradeline TV. Again, if you haven’t subscribed, click the button.

Turn on the bell notification so that way every single time the videos are coming in, you’re getting them. It’s a daily thing that we do. Again, “Credit Game,” post that comment below. Thank you, guys.

Until tomorrow, my name’s Mike with Wholesale Tradelines. I appreciate you watching. Take care.

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