"You're Either In Control or Being Controlled"
Oct 07, 2024Dating back to high school Jeff Johnson II wanted to know where the Wealth class was. When he couldn’t find this class his head was no longer in high school and he would begin to run with the wrong crowd. Jeff’s head was on figuring out how to make money.
Jeff would go to college because that was what you were taught to do.
The common denominator that you hear throughout Jeff’s conversation is his desire to help a lot of people.
Jeff was introduced to credit repair when he met a gentleman that repaired his credit after having filed bankruptcy.
Jeff shares some simple, quick ways to repair your credit:
- It’s a process
- Stop focusing on the score, focus on the rating. The rating will tell you if you are going in the right direction or not. Your credit score is your ability to pay bills on time over time.
Credit is just a game to try to get us overwhelmed so don’t get intimidated by it.
Lenders don’t look at Credit Karma scores.
Excellent is an ‘A’ with 750 or higher. If you don’t have an excellent rating, over your lifetime you loose about $250,000 - $1,000,000!!!
Here are 2 steps to have an excellent rating:
- Nothing Bad - Zero negatives. One late payment can drop your score 150 points. Payment history is 35% of your score. Negative items can be disputed under the Fair Credit Reporting Act.
- Have 5 or more active credit accounts. Banks need to see that you can handle credit. Five is thick and 10 is solid. Banks also want to see that you can handle different types of credit. Mainly credit cards and loans. Your credit mix is 10% of your points.
Credit builder accounts help you build credit. They are like training wheels on a bike to help boost up your credit. Having good credit can get you free money.
Secured credit cards - you take your own cash, put it on the card, buy something that you buy already every month like your cell phone bill. Pay it back by the due date.
Due date is the date that they calculate the interest. Statement date is the date that they tell on you to the credit bureau. If you don’t pay it off every month, don’t owe more than 7% of your limit. This makes you not look desperate for the cash. Utilization is 30% of your points. Maxing out your credit cards hurts you almost as much as having a late payment.
Credit builder loan - It’s a savings account that builds your credit.
Age is 15% of your points. The longer that you have had accounts open in a good standing the better your credit rating.
Make sure you don’t have more than 3 inquiries.
The Formula for Excellent Credit:
- Zero negatives
- 5+ active credit accounts
- At least one active credit card and one active loan
- Below 7% credit card utilization
- Average age 5 years or more
- No more than 3 inquiries
In order for things to change you have to change. Pour into yourself and give from your overflow.
In Order to Shoot Your Shot with Jeff you must:
- Have a relationship with God
- Align with his values in the six areas of life.
Six areas of life:
- Spirit life
- Health / Fitness
- Family/Home
- Finances / Career
- Mental / Educational
- Social and Cultural
Jeff wants to help 100 people, acquire cash flow producing assets, to create a six figure income with those assets. Credit is just the beginning for Jeff!
In putting a bow on the conversation, Jeff wants you to think bigger! He wants to help people win by becoming a better person than you were yesterday. Win by beating that negative part of yourself. The vision will always bring the provision! Know your why and the how will follow.
Reach out to Jeff at (502)356-8708
