Everything You Need to Know About Credit: Build Credit, Credit Cards, Child Credit & Business Credit

In this eye-opening episode of Earn Your Leisure, we had the pleasure of interviewing Shonda Martin, an expert in personal and business credit. Shonda delves into the intricacies of building a robust credit profile, sharing invaluable advice and strategies that go beyond just the numbers. Tune in as we cover essential topics including:

- The significant role of personal credit in business credit development.
- Effective ways to handle late payments on your credit report.
- Why a healthy credit profile matters more than your credit score.
- Achieving financial flexibility with a 680 credit score.
- The risks of co-signing and how it affects your credit.
- Regularly boosting your credit limit for financial health.
- The impact of student loans on your credit score.
- Understanding the true nature of credit card usage.
- Strategic payments to enhance your credit score.
- How high credit card balances can lower your score.
- The right time to start building your child's credit.
- Common parental mistakes in managing their child's credit.
- Knowing when and why to close a credit card.
- The optimal age for adding your child to your credit card.
- Steps to building a strong credit profile.
- Key FICO scores to be aware of.
- Solutions for managing credit card debt.

Don't miss out on these crucial insights that could transform your financial journey. Whether you're repairing, building, or maintaining your credit, Shonda's advice is a game-changer.

#EarnYourLeisure #CreditTips #FinancialFreedom #CreditScore #PersonalFinance #BusinessCredit #CreditRepair #FICO #DebtManagement #financialeducation

0:00 Intro
1:22 Shonda’s Start with Credit Repair
3:17 FICO’s Credit Certification
4:52 The 3 Main Credit Bureaus
7:17 Factors that Affect Credit Score
10:33 How Credit Utilization Works
11:49 First Step to Building a Healthy Credit Profile
15:12 How to Effectively Use Credit Cards
17:51 When to Ask For a Credit Limit Increase
19:58 How to Avoid Pitfalls
21:52 Establishing Credit at a Young Age & Authorized Users
28:50 What Credit Score Should Everyone Aim For?
31:49 Credit Myths
34:30 How to Challenge your Credit Report
37:55 How Long Late Payments Stay on your Report
40:27 Common Co-Signing Mistake
42:41 Credit Consolidation Explained
45:22 Any Credit Score can be Fixed
47:00 How Rising Student Loans will Affect our Future Credit
49:27 Options For Dealing with Bad Credit
55:36 Business Vs Personal Credit
1:00:14 How Many Credit Cards Should You Have?
1:01:47 How Often Should You Check Your Credit?
1:03:24 How Shonda Teaches Credit Repair
1:04:39 Outro

[latricemcneil]

She’s a GEM….

Her energy will take a person out of
Financial Mental depression ‼️‼️‼️

[IanSuave]

im 21 turning 22 in 3 months and im proud of my 751! definitely going to be using the advice from this video to reach a 800!

[ZTN]

This lady here is full of gold. Pure gold. Protect her at all cost 😮‍💨😮‍💨

[RoadTo]

This was awesome! Thank you for having me!! 🙏🏾

[kimberlychin]

Shonda did an amazing job explaining everything related to credit cards, credit score, and starting and rebuilding good credit. I love this interview so much!

[Greyyyjohnson]

My credit took a big hit a few years ago and I have been steady trying to get back on my feet, I am at 680 now and still going, I learnt a lot from your videos and would love to learn more !!!keep doing what you do boo !!

[salalivelovejoy]

Empowered people, empower people. Thank you for helping the black community not only survive but thrive 💫✊🏾💫

[EPYes]

No gimmicks, no fillers, non nonsense!
Just real information to help consumers better their financial situation/ decisions, daily !

[kevindavis]

12 minutes in and i am IMPRESSED

she is giving knowledge, not vague responses, shes giving percentages, breakdowns, dates, actual numbers

Very good

[jamiepatterson]

God is sooo good. I have diverse credit on my prayer board and my goals for 2024. I'm setting myself up for financial freedom in the next couple of years. I'm geeked I came across this video. I'm on the right path, i learned a lot in this video. Thank you for sharing such vital information about credit reporting and history. Now I gotta send this to everybody I know. God bless 🙌🏾 🙏🏽

[familyfriendsfinances]

Out of everybody I’ve ever heard speak on credit, the way she speaks is the most fluid out of them all. You can tell that she is a professional credit orator.

[RussTheRealest]

This woman knows what she's talking about!!! Trust me!!! Listen to her!!!

[Robin]

Great information. I added my children at 14 and my kids had a credit score of 700+ by the time they were 18. This information definitely needs to be shared

[brandiearrington]

“Apply for a credit card BEFORE a loan” yesss. I’m bummed this information wasn’t available as I was growing up but sooo Grateful I can pass this to mine ❤

[tylercampbell]

Once I got established with a house I paid off and closed every credit account built an emergency fund and borrow from myself..No debt other than my mortgage..

[sherinebonsu]

In just 1 hour I learned about so much about credit that will last me a lifetime. You all touched on every question I had especially for the best time to establish credit for my children. I will be watching again to take notes and take action on improving my credit worthiness.❤🙏🏿

[blairblair]

29 trying to get my credit in order, better late than never. Wish i was taught this in my teens

[joshfernandez]

5 Factors that contribute into your credit score.
1. Payment History 35% - 192points
2. Credit Utilization 30% - 165 points
3. Credit Age is 15% - 82.5points
4. Hard Inquiries - 55points
5. Credit Mix 10% - 55points

[teonnascott]

Been listening to Shonda for a few years. She’s very informative.

[heartsforhopelessness]

Only 42 min into the video and I have learned sooo much thank you for sharing ❤