Here it a two part series regarding emergency credit situation, and online resources that can help you get funding for small to large installations when combined and done strategically. I needed to replace a roof (I should have replaced it a year and a half ago, but I only patched it. Check out my article 0058 Do Your Repairs Up Front on what you should do next time). So, I want to discuss using online resources to use for emergency credit situations such as:
1) Creditcards.Com
2) CompareCards.com
These two sites are similar, and offer a great way to strategically apply for credit cards. In this instance, it helped me filter by credit profile (fair to good), and then by promotions (0% introductory APRs on purchases and balance transfers from 6-9 months). I applied to 6 different cards in 30 minutes, and I want to explain in this episode what happened with those inquiries and my credit score.
!!!Stay tuned for part II!!!! I am going to put up the same information my Experian reporting service shows me when I applied to credit. This is the same information you would see if you signed up for Experian Credit Report Monitoring Service. Im excited to share with you, as this was happening near real time:
1) Hard Inquiry Alerts
2) Score changes – (spoiler alert – it went up! I said 6 points in the video, but it was actually 12!)
3) 10 different, fact and content filled specific reasons my Experian score goes up and down
4) Insider Information I gleaned from a 10 minute credit specialist conversation, which was included for free since I have the service
5) How now that that score has risen sufficiently, I am now going to look into Equifax, which I know is my lowest score, and start from there.
6) Which cards denied me, and which ones approved.
Hopefully this will help give you some firm figures if you are trying to improve your credit score yourself, as I navigate using credit and discovering how available it can be if you know how to search for it.
3 Comments
Good evening,
I read your article on Reiclub.com about your first deal and wanted to find
out what tips and suggestions you can provide me. I’m just starting out in
this arena and never completed an investment deal before. I’m a licensed
realtor in MD and reside in PG County. What can I do now to secure deals
as well as get funding with no money, no credit at this juncture. I’m very
interested in your strategies and very open to partnering and meeting to
discuss next steps and working together. Let me know.
Thanks in advance.
Shelby Townsend
shelbytownsend9@gmail.com
Awesome – Im really learning a LOT from you – THANKYOU !!
Lol funny story about Capital One. I used to get hounded by them every
month for about 2 yrs,asking me to sign up for a card because I was
“pre-approved” but now that I’ve been stock piling credit they denied
me…Then a week later sent the same ad saying I was approved for the same
card I had just applied for.So I went thru the ad and ended up being about
for 300 bucks from them. Whats crazy is that Amazon approved me for both of
their cards ($1500)….in 2minutes!!!