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The Secret To Getting An 850 Credit Score

By: Daniel Rosen January 18, 2022

Who wants an 800 credit score or higher?! We all do, right? 

But is it really possible? Yes, not only is it possible, I’ve done it! I used to have terrible credit and now my scores are all over 800! 

It’s definitely possible to have a credit score over 800, but it’s not common! Only 21% of the population has a credit score of 800 or more. AND only one percent of the population has that perfect score of 850

So what is the secret to getting a perfect 850 credit score?  

A great place to start is considering what people with super high credit scores have in common. 

 

They all have…

  • Between four and six credit cards which are revolving accounts
  • At least one installment line - like a mortgage or auto loan that’s in good standing
  • Around 30 years of credit use
  • No late payments or other serious account errors for at least the past seven years
  • Very few credit inquiries. No more than 3 inquiries in a six-month period
  • No derogatory notations like collections, bankruptcies, liens, judgments, etc. They are clean as a whistle.  
  • And the debt levels on their credit accounts are at less than 30% of their overall credit limit

You can tell from this list that you don’t get there overnight. 

BUT the important thing I want you to know is that, while it IS possible to have an 850 credit score, it’s not necessary to have an 850 credit score. Even improving your credit score to 700 can make a big difference. 

All the secrets that I’m sharing with you today apply whether you’re trying to increase from a 300 to 500 or 500 to 800… so these tips and apply them to yourself and to all your clients no matter where they are on their credit journey! 

So let’s dive in!

There are 5 simple things you can do to increase your credit score and to coach your clients, so they can have a higher credit score too:

  1. See what everyone’s saying: Three major credit bureaus are monitoring how you handle your credit and your finances. So as often as you can (and especially a few months before entering into a major loan), review your credit reports from Equifax, Experian, and TransUnion. You’re entitled to one free copy from each bureau once a year and more under certain circumstances. 
  2. Fix all typos and errors: Since your credit record spans almost a decade of your borrowing activity, it makes sense that errors sometimes turn up. A recent study showed that 79% of all credit reports contain errors. That's hundreds of millions of errors. Common credit-reporting errors include out-of-date addresses, closed accounts being shown as open, credit lines not reported at the correct amount, and wrong information.
  3. Change your ways, immediately: Self-inflicted credit wounds (such as a history of late payments, defaults, or irresponsible behavior in general) will fade from your record over time. Since the most recent behavior on your reports carries more weight than old news, make a commitment that from this day forward you will be a financially upright citizen, and over time your score will grow. 
  4. Remember that your credit card is not cash: It represents money you do not have. I really struggled with credit card debt so now I keep them in a drawer and I only use a debit card for everything. Even though you have been approved for credit by a bank, or store to borrow thousands of dollars, you don’t actually have thousands of dollars to spend, which leads nicely to the next rule…
  5. Ignore anyone’s rules on what would be an acceptable amount of debt: Your debt to income ratio is the measure of how much debt you carry, versus how much money after taxes you have coming in. In the world of lending, it is acceptable to carry 25% of your income in debt. But that ratio is still very high. You might want to consider trying to keep your debt including car loans to 15% or less of your after-tax income.

Coaching your clients to a higher credit score will have a major impact on their life, as you help them understand their habits, and as you help them to change any of the bad habits that are getting in the way of the life they want. 

Here’s why this is important: 

  • As you’re coaching your clients and as they begin to see results, they’ll be so grateful that they’ll turn from a paying customer to a raving fan!
  • That means they will start to refer people to you, and your business will grow and grow!
  • And one of the best ways to have instant credibility to potential clients is by showing increased credit scores and testimonials from your past clients. You can even

These changes don’t happen overnight, but when you follow these principles and coach them to your clients, you can radically change your lives and all the lives around you! 

It’s pretty amazing! Now go put these tips to work and raise your credit score! 

AND if you want to get certified in disputing and launch your very own credit repair business in just a couple of weeks, I invite you to join our Credit Hero Challenge!

It’s an amazing program that has helped tons of Credit Heroes get their first clients, get certified in disputing, and gain confidence in knowing they are launching their credit repair business on a solid foundation that allows them to grow and scale FAST! 

We’re starting again soon, so SIGN UP NOW at creditherochallenge.com!

Be sure to subscribe on your favorite platform below!

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Topics: Podcast

Transcript

Daniel Rosen  00:00

Who wants an 800 credit score or higher? We all do, right? But is it really possible? Well, yes, not only is it possible, I've done it myself. Here's my credit scores. As you can see, they are 812 808 and 815. Now my credit used to be terrible. So how did I do it? Well, today I'm going to walk you through my secrets to increasing your credit score fast, and getting into the 800 club like me, so you better stick around. My name is Daniel Rosen, and welcome to Credit Repair Business Secrets. Okay, before I dive in, if you are new to my podcast, be sure to click to subscribe and turn on notifications so you don't miss a thing. And if you want me to hold you by the hand, as you launch your very own credit repair business, go to creditherochallenge.com, where I will walk you through the proven process that has created millionaires and change 10s of 1000s of lives. That's creditherochallenge.com. And one more thing, and I love this park. Every episode, I am featuring one of our credit heroes inside our Credit Repair Cloud Facebook Community so that you can see firsthand what real people are doing as they launch and grow their business. And today's spotlight is on Steve Heath of Legacy Consultations. He just posted this a few days ago in our community. Here's what he wrote. He wrote, don't give up. Don't ever give up. Your one in business. I only did $19,000 a year to in business I was able to do over half a million. I got my dream car, I quit my job hired VAs got my time back and expanded. I was ready to give up after year one, just like I see many of you posting. But I knew that credit repair could change me and could change my family's life. And I invested I grinded and I have made it. Then it goes on to say Mark my words. I will be joining that Millionaire's club this year. And I am so happy for you, Steve, half a million dollars is amazing. And I can't wait to see you hit the millionaire's club and know that we are all rooting for you. And by we I don't just mean me and our team here at CRC. No, I mean our amazing community of credit heroes, which has just passed 26,000 members, and the whole point of our community is to inspire and help each other up the mountain and there is nothing we can't accomplish together. Okay, let's get into this 21% of the population has a credit score of 800 or more, that's one in six people. And then a perfect credit score is 850. And only 1% of the population has that perfect score. So what is the secret to getting a perfect 850 credit score? Well, the first thing we need to do is we need to look at what folks with such a high credit score, we need to see what they all have in common. And they all have between four and six credit cards which are revolving accounts. They each have at least one installment line, like a mortgage or an auto loan that's in good standing. They each have around 30 years of credit use. They have no late payments or other serious account errors for at least the past seven years. They have very few credit inquiries, no more than three inquiries in a six month period. They have no derogatory notations on their reports, like collections, bankruptcies, liens, or judgments. No, they are clean as a whistle. And the debt levels on their credit accounts are at less than 30% of their overall credit limit. Now from this list, you can see that you don't get here overnight. But the important thing that I want you to know is that while it is possible to have a perfect 850 credit score, it's not necessary to have a perfect 850 credit score, in fact, anything above 700 That's going to significantly help you or your clients to qualify for the life, the home and the car that you really want and that is totally achievable, and you can help them to get there. Now when you are a credit hero, and you're using credit repair cloud as the software running your profitable credit repair business, a big part of your job is to educate your clients on the best ways to manage their credit and their debt and to work on their behalf to correct any errors. or issues that are on their credit report. And as a result, the score will naturally increase. And if you do what I'm about to share with you, your score will go up to all the secrets that I'm going to share with you right now, they all apply, whether you are trying to increase from a 300 to 500, or from a 500 to 800. So take what I'm going to go over today and apply it to yourself and to all your clients no matter where they are on their credit journey.  Okay, let's dive in. Coaching your clients to a higher credit score is going to have a major impact on their life as you help them to understand their habits. And as you help them to change any of the bad habits that are getting in the way of the life that they want. Now, the real trick to increasing the credit score is understanding the importance of keeping your spending under control, and never spending more than you can afford. I don't even use credit cards now because I was so addicted to them in the past that I couldn't control my spending. And at one point, I had over $200,000 in credit card debt. And that was really, really scary. Now, don't get me wrong, I do own credit cards, I just don't use them, I keep them in a drawer. And I use a debit card for everything. And just this one change made the biggest effect on my life and my finances, because it forced me to only pay for things when I could really really afford them. And also, by not using credit cards, I was no longer racking up debt. So that made it easier to dig out of my mounds of debt. And that's a really great feeling. Next important is to always pay your bills on time, always use a calendar system, or put bills on auto pay, or do whatever you can so that you never miss a bill payment. And finally, you've got to stop applying for credit. Because each time you do, it dings your credit score. So instead, if you're going to apply for credit, save that for something really important that you really need, as opposed for applying for random store cards. Every time a salesman asks if you'd like to save an additional 10% Today, by applying for a store credit card. Trust me, you don't need the store card, okay? You don't, you really don't. It really is that simple. Here's why this is important as you are coaching your clients. And as they begin to see results, they are going to be so grateful, they're going to turn from a paying customer to a raving fan. And that means that they're going to start referring people to you, and your business will grow even faster. And one of the best ways to have instant credibility with potential clients is by showing them increased credit scores and testimonials from your past clients. And you can even show your own score increases and tell your own credit story. So here's what you need to know, there are five simple things that you can do to increase your credit score fast, and then turn around and coach your clients to do the same so that they can have a higher credit score too. First of all, you got to start checking your credit reports. The three major credit bureaus they are always monitoring how you handle your credit and your finances. So as often as you can, and especially a few months before entering into a major loan, you want to review your credit reports from Equifax, Experian, and TransUnion and know that you're entitled to one free copy from each of those bureaus once a year and more under certain circumstances. And once you get those reports, you want to fix all typos and errors. Okay, there will be errors. Since your credit report spans almost a decade of your borrowing activity, it makes sense that errors are going to be there. Now a recent study showed that 79% of all credit reports have errors. That's hundreds of millions of errors. Common credit reporting errors include out of date addresses, closed accounts being shown as open credit lines not being reported the correct amount and just random wrong information. Next, you want to change your ways immediately. self inflicted credit wounds like history of late payments or defaults or irresponsible behavior. These are going to fade from your record over time since the most recent behavior on your credit reports, carries more weight than the older behavior. What you want to do is make a commitment from today forward, that you're going to be a financially upright citizen. And you know what, over time your score will grow. Now, remember that your credit card is not cash, okay? It represents money that you do not have. And even though you've been approved for credit by a bank or a store to borrow 1000s of dollars, you may not actually have 1000s of dollars to spend, which leads nicely to the next rule. Ignore everyone's rules on what is an acceptable amount of debt. Your debt to income ratio is the measure of how much debt you carry, versus how much money after taxes you have coming in. And in the world of lending, it's acceptable to carry 25% of your income in debt. But that debt ratio is still very high. So you may want to consider trying to keep your debt including your car loans to 15% or less of your after tax income. Pretty simple, isn't it? Now these changes, they don't happen overnight. But when you follow these principles, and you coach them to your clients, you can radically change your lives and all the lives around you. Just like our Millionaire's club member Derek Harwell. Now Darica is the founding CEO of beautify credit, which is a massive credit repair operation that she built all by herself from ground zero. And when I say Ground Zero, I mean Darica was living in her car with her two kids when she started. And that's why her unstoppable success is all the more inspiring because of everything that Derek had to go through to get to where she is today. And even though she's living a busy life at the very top of the credit repair industry, Danica is very passionate about education, and community work. She's also an award-winning author, and she received the author of the Year Award for her book, which is called beautify credit, which is in the financial literacy category. Now, recently, Darica was here on my podcast, and she shared her journey with us. And if you haven't listened to it, after this one is over, go and listen to it because Derek has shares some incredible credit repair insights and secrets on how exactly she created her multimillion dollar credit repair empire from nothing. And it's a really amazing story. And if you're just starting or thinking of starting your credit repair business, I want to invite you to join our upcoming credit hero challenge. And in this challenge, I will hold you by the hand and help you step by step as you launch your business. It's a highly interactive program with daily coaching calls daily mentorship, and a whole tonne of action steps and bonuses, and even get certified in three different areas. But most importantly, you will learn the processes that have created millionaires and changed 1000s of lives. So go check it out right now at creditherochallenge.com. And if you're finding value in the things that I'm sharing on this podcast, click below to subscribe. And if you're feeling kind, rate me and review me or leave a comment or a question, because I read each and every one of them. And I will see you on the next episode. And until then be a credit hero and keep changing lives.  Hey, everybody, it's Daniel again. And really quick, I'd like to invite you to join what I believe is the best thing we have ever created inside the Credit Repair Cloud Community. And it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business, or you're just getting started, and you dream of having a successful business of your own. So you can quit your nine to five and fire your boss and have financial freedom or so you can add another revenue stream to your existing business. If that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own Credit Repair Business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics and all the things you need to be successful at credit repair. It really is the greatest thing we have ever built, and it will change your life. So I recommend you do it right now. Stop everything pause this audio go online and go to Credit Hero Challenge.com That's creditherochallenge.com and join the next challenge and there's a challenge that start In just a few days so go get started right now at creditherochallenge.com

 

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