Guys, you have to understand that in 2019, the things that I’m going to share with you guys, there’s a lot of psychology behind it, and there’s a lot of, “What do I do? How do I do it? Where should I go from here?” So, let’s chat about 10 things you need to know about credit cards.

So I’m going to try and clear some of that up for you by giving you some viable solutions.

But, first, I want to get into the real meat of it, and a lot of it is really, really scary, to be completely honest.

As of 2019, 75% of Americans have less than a 700 credit score.

Why?

Number one, 75% of people have less than a 700 credit score.

I’m going to ask why.

There’s a lot of reasons why, because people are irresponsible.

There are people that make $8,000 a year who have perfect, pristine credit.

There are people that make $8 million a year who have a 550.

So what intrigues me over the last 10 years in credit, is how somebody with $8000 income could have better credit than somebody with $8 million annual income.

Why do you think that is?

That’s what’s intriguing. The reason is dedication. The reason is a priority.

It’s not anything to do with money. It has nothing to do with money.

It has to do with dedication and credit knowledge.

Just because you make $8 million a year doesn’t mean that you understand credit at all.

But, the person making $8000 a year may have a perfect understanding of the credit world.

So that’s why I implore you to learn, watch these videos everyday, because I teach it on the daily.

I’m the only channel that does it every day so you guys can learn.

Also, know that 76% of people live paycheck to paycheck.

That means that three out of four people that you hang around with, three out of four of your employees, three out of four of your family members are living paycheck to paycheck.

How is that possible in an economy that is so strong and in a country we are known as supposed to be, which is not true by the way, if you’ve been to any other country, I can name many countries that are much higher in income.

But, America is supposed to be the richest country in the world.

How is it that three out of four people are still paycheck to paycheck?

What are some solutions?

Really quickly I can tell you a solution, you need a side hustle.

If you believe that working from 9:00 to 5:00 is going to make it, probably not going to work.

I’m working 12 to 14 hours a day, did it for the first five years in the business, still work over 12 hours a day.

What you can do in 12 to 14 hours is almost double the person working the 9:00 to 5:00.

So work your 9:00 to 5:00, get a side hustle, get some more money going, and potentially, that side hustle will actually increase more than your regular, and then maybe it’s time to switch.

But, not until that side hustle actually increases higher than your regular.

But, you definitely need to add a second … at 5:00 you guys are going home, watching TV and the news, instead of working.

Everything was created in seven days, right? Jesus worked for seven days.

What makes you think you guys can get Saturday and Sunday … “I’m not working Saturday and Sunday. I’m not working past 5:00.” Why? Be broke.

I mean, have credit that’s horrible because you’re not willing to learn.

So these are some solutions and things you guys got to think about.

76% of Americans don’t have $1000 in their savings account.

Three out of four people do not have $1000, in case of emergency, a death, an illness, or a lawsuit.

So back to number two again. What do we need to do to increase that?

Having better credit is going to be a good solution, because then if we need to fall back on a credit card, we could for an emergency situation.

But, also again, going back to, you guys need to work, work more hours, get more done in a day.

My day starts in three sections. 6:00 AM to 12:00 PM, that’s what I consider a day.

I get more work done in that area than most people who work all day.

Then, I go from 12:00 PM to 6:00 PM, that’s day two, which is all still on day one, by the way.

Then, 6:00 AM until about 10:00 PM.

So I break my day up like that, but I’m getting more done than you guys are getting done in your 9:00 to 5:00 in that little six-hour window.

Then, I’m adding another six hours on there.

So just things again, work hard, grind it out while you’re young, even if you’re older.

You guys want to make sure you have something when you retire so some helpful tips here.

Credit card debt just passed, not the only mortgage, but it just passed the big T.

That means that credit card debt is now over $1 trillion in America.

Could we have another bust? Let’s hope not, but it’s possible.

Remember this, if it’s at $1 trillion in debt, that means people are spending.

Right now the economy’s good, people are out spending.

But, they’re spending on credit cards, and just because you have the credit availability does not mean that your credit habits increase as well.

People get a credit card and they’re like, “Oh, I got a $25,000 credit card, now I’m going to go out and spend it.”

Just because you have a $25,000 credit card does not mean that you go out and spend $15,000, $20,000 on the card.

Your credit habits stay the same with no credit cards as they do with a $25,000 credit card.

The only thing is the difference is now you have something that’s building your credit, and therefor emergencies.

But, to go out and buy shoes, and clothes, and watches, and all kinds of goofy stuff that you guys don’t have the money for.

Do you know what I’m saying?

What I buy, the things that I buy, I buy with other people’s money.

So I have some good toys, but I’m using other people’s money to buy them.

I don’t buy them using my own money to do that.

We have income coming in, disbursed out, passive income comes in, that’s why I buy my stuff.

Do not use your earned income to purchase goofy, silly, unneeded stuff.

And that’s what happens.

That’s why people go in debt, and that’s why America, right now, is in $1 trillion in credit card debt.

Let’s talk about having 30%, this is huge, 30% on your credit cards.

Over 30% mark is considered negative.

So go through your credit cards, see what your percentage is, and then lower them below 30%.

Your score is going to drive up.

That includes 30% of your credit score, is your debt utilization.

So look at your credit cards, make sure that each one of them, because it is credit card-specific, meaning not overall.

If you have one at 80% utilization, and one at 15%, bring this 80% down because it’s crushing your score.

It’s not an average utilization, it’s card specific.

So look through each card, see which ones are high utilization and get those down to under 30%.

Do you guys ever hear that cash is king?

You know when we grew up, cash is king, right? We all heard that.

It was a huge adage back in the day where they would say, “Cash is king.”

Well, cash is king until it’s time to buy a house.

Cash is king until it’s time to buy a car.

Or, how about starting a new job and they run your credit.

Credit is king, not cash.

Leverage credit, not cash.

You guys, with this cash in your pocket, you’re like, “I don’t want to spend it.”

You go into this conservation mode where you don’t want to spend any money.

It’s what we were told growing up. “Never spend, money doesn’t grow on trees.

A penny saved is a penny earned.” All this stuff that we heard has brainwashed us.

Credit is king.

I promise you, you can leverage credit way more than you can leverage some cash.

So think about the things that you’re going to need to do in your life.

How about renting a nice apartment? You can’t do that with cash.

Buying a $350,000 home?

Yeah, sure you can buy it with cash if you saved up for your whole life.

You want a nice car instead of a 1972 Golf Beetle, then yeah, you probably want to have credit.

This is what our first priority needs to be is taking a look at your credit and seeing where you’re at, and then thinking about it not being overwhelming.

It’s not an overwhelming thing.

It’s taking off little bite-size of your credit.

You have to know the steps, and you have to know the steps of what to do because if you don’t know what to do, then I can assure you it’s going to be overwhelming and you’re going to say, “I don’t want to mess with it anymore.”

And you’re going to sweep it under the rug until it’s time for something, where your engine blows up, or you’re trying to start a new job, or you want to invest in something, or it’s time to get out of the ghetto because you want to get a nice house, but you can’t.

So then you’re frantically like, “What do I do?” Then, everybody wants everything fixed in 30 days.

That’s America.

But, take steps today so that you’re credit ready when you need it.

Here’s another one.

We talked to 300, 400 people a day here, and here’s what we get.

We get people that say, “I’m ready for my credit, business credit.” And then we ask, “Well, what’s your credit score?” “It’s a 525.”

Guys, ass-backward.

Fix your personal credit first.

When that is in a good position to PG, personal guarantor, the business tradelines, then we can help build the business side of things.

Do not come to me and say, “I need business trade lines and you’re at a 520.

It is completely backward, and I just wanted to give you the statistics that a lot of people come to me with that, but it is completely opposite of what you should do.

Fix your personal and then we’ll get the business side of things rocking and rolling. Okay?

50% of people believe that when you pay off a collection, your credit score goes up. 50% of people … And I think that is an understatement at 50%.

50% of people.

If you’re standing next to somebody right now, those guys believe it.

There’s somebody that believes that if you pay off a collection, your credit score is going to go up.

So I want you to have the education to know this. Paying off a collection does not do anything for your credit. Zero.

Now you have a paid collection, Merry Christmas.

But, it does nothing for your credit.

In fact, it probably hurts it.

Well, it’s probably a little bit better than having a collection unpaid.

But, it does not do anything to your credit score.

Try to get the collection removed by paying a lieu of deletion.

That’s the kicker because then it’s not on your credit at all. That’s the way you want to do it.

But, no, your credit score does not go up when you have a paid collection.

Also, if you’ve got late payments, you got a 30 day, you got a 60 day, and then once you say, “You know what?

I’m ready to make my payment on that 90th day, I had a little hardship here on 30 and 60.”

So you got those little red checks.

But, then on day 90, you were able to catch that card up.

Does not mean that the 30 and 60 go away.

Your credit does not get any better by making that one payment.

It’s consistently over and over again, making sure your payments are on time.

That is the biggest factor of your credit score, set it up on automatic, guys.

Set it up on automatic deduct so that way, each month your credit card payments are made on time before the payment due date. Okay?

The average person in America right now, $8000, that includes husband, wife, and actually child, $8000 in credit card debt.

The average person has $8000 in credit card debt.

That’s scary. I mean, how do you expect the economy to continue to grow when we’re growing with so much debt.

It’s going to be a boom soon. Hopefully not.

But, when it’s just past a trillion dollars, and it just passed mortgage debt, that’s crazy.

Use a credit card for emergencies, and emergencies only, not to go out and spend.

Unless you have a card that is zero interest for 12 months and you want to just use it like you’re using a debit card, and paying all your bills and doing things like that on this card, and then pay it off in full, great.

But, that’s not a typical credit card. Most people don’t have those.

But, if you have a 12-month interest-free card, sure, use it through the month for basic utilities, and food, and gas, and all your normal day stuff that you’re living on.

Do it that way, and then pay the card of with cash.

At least you’re getting maybe the points and the benefits of using the card, and you’re building credit.

Be responsible with credit cards.

If you need more money, focus on getting more income, not adding more debt.

Add income by creating a second flow of income, a side hustle, what they would call maybe a high-income skill.

Maybe it’s copywriting, maybe it’s marketing, maybe it’s sales, whatever the case is.

We can talk about that on another video, but creating something else for an income is where you want to focus your energy on.

Get you out of the living paycheck to paycheck.

Help you guys out with your credit.

Average credit score today, 679.

I started this by saying that 75% of people are less than 700, the average is 679.

Not terrible. A lot of people that are like 750, 800, and a lot of people that are in the 5s, so they average out at 6.

So it’s not a terrible score, but if any of these 10 things that I just shared with you, the person watching this today, if you can go through and see if any of these 10 are you, post comment below and let me know which one is you, because I want to help.

Our team wants to help you.

We want to help you get out of that, whether it is the paycheck to paycheck, whether it is the figuring out of a stream of income to add, whether it is raising your credit score very easily by just giving you a few tips.

Maybe you’re at a 550 and you want a 700.

Maybe you want to get into a better apartment. Maybe you are looking to buy a house, first-time mortgage for a home loan.

Maybe you’re trying to get a better car so you don’t have to drive the beater.

So there are so many things that you guys can do.

It is not out of reach. So what I’m asking you to do is this.

***Call us NOW at (888) 810-2897 or visit mckenzieadams.net to learn how to Protect and Improve your credit RIGHT AWAY***