Your Credit Report

November 12th, 2009 | No Comments |

Free Credit ReportHow many of you have seen the commercial about “freecreditreport.com?” I guess the better question would be, “How many of you have not seen it?” It’s a service that allows you to check your credit report for free. Awesome right!? You get to see how behaved you have been in the alternate universe of credit and what your borrowing ability is.

So answer this one question: Is your credit report important to you?

Let me make it easier for you. What is credit used for? Come on…this is easy. The answer is simple. It’s to get into more debt! See! I told you it would be an easy answer. You strive to have good credit so that you can get that new car and get into more debt. It’s used to leverage what little cash flow you have coming in so that you can afford that new car or the nice home, right?

Credit is used by 90-95% of the worlds population to get into debt and it’s funny, the answer to this question varies depending on the way you use money. So is that really what you were thinking? Is that your final answer? Do you maintain a good credit score to get into more debt?

Very few people look at a credit score as opportunity. A tool for leverage. Frankly, most people have no interest in looking at their credit score because quite frankly, it’s not too pretty! It’s not something they use correctly so they don’t see the value in maintaining it. At the same time, some people absolutely stress out about having a good credit score out of fear of non-compliance to the credit system. Having bad credit means they’re slackers and can’t handle their money.

Some people have no need for a good credit report because they have enough cash flow. Others have bad credit that know it’s value but took a risk and lost.

My advice with credit….don’t let it consume or dictate your choices. Don’t become so uptight about maintaining a good credit score that you lose site of your ambition. Use it to leverage your financial situation. For a very small portion of the masses, credit isn’t used to get into more debt. That’s not the mindset behind it. It’s used as leverage to create an increase in cash flow instead of a lengthened payment plan.

The last time I checked, the definition of credit didn’t contain the word “Stretch” in it. Meaning, don’t use it to stretch a small paycheck, use it to make the paycheck larger the next time it comes in!

David Allred is the author and creator of CFW. David has been teaching entrepreneur minded people how to earn a full time income working from the comfort of home for nearly a decade.

Think about it. Never miss your kids’ events, set your own schedule, choose your own income and enjoy a lifestyle and income which most people only drool over!

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