Grand (Credit) Slam & Wealth Building

Learn how to hit it out of the park with your credit management…

Frequently Asked Questions—TheWealthIncreaser.com

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1-2-3 Credit & Me (Frequently Asked Questions)…

As the fall season kicks into full gear and the world series between the New York Yankees and Los Angeles Dodgers begins, it is important that you take a pause and look at your credit in a more precise and sincere manner.

Even though this page was mentally formulated several days ago prior to the start of the world series and even the American and National league champions being crowned, the creator of TheWealthIncreaser.com found it quite ironic and improbable that when the score from game 1 of the “World Series” was checked on this day (10/26/2024), it was determined that the Los Angeles Dodgers won with a walk-off GRAND SLAM in the 10th inning!

It is amazing how the formulation of this page and the ending of game 1 of the 2024 world series all aligned, and hopefully it will lead to your goals and your understanding of credit all aligning so that you can achieve more throughout your lifetime.

You “contemplate the odds” of the creator of TheWealthIncreaser.com formulating a page about Grand Slam and Wealth Building prior to the start of the world series, and game 1 of the world series actually ending with a grand slam! It was the first walk-off grand slam in World Series history!

The creator of TheWealthIncreaser.com sees those unlikely occurrences as a sign that major success is ahead for the creator of this blog as well as for all visitors to this blog if we all apply ourselves at our highest level!

In the world of credit management you want to ensure that “you” win the series that you are involved in throughout your lifetime.

It is important that you realize that you are the batter when it comes to managing your credit and you must keep negative information off of your report.

On first base is your utilization of credit, on second base is the time length of your credit, on third base is the type of credit that you have and behind home plate is your inquiries or how you apply for new credit.

It is important that you “clean the bases” as you manage your credit (enter the batters box and swing hard) and this discussion is designed to help you do just that, in a more efficient manner.

In this discussion TheWealthIncreaser.com will focus on ways that you can manage your credit more effectively so that you can achieve the big goals (grand slam) in life that you may have in a timelier manner (4 game sweep–if you will)!

Even though there are only four bases, there are five factors that you need to be aware of as you enter the batter’s box, clean the bases and run over home plate, and you control how you keep negative information off of your credit report and manage the other factors, and you must know how to use the cleaning of the bases (learning what you need to know in a passionate manner)–for your and your family’s greater benefit as it relates to credit management.

Batters Box—You & Your Positive Payment History

You must understand that it is you who control the management of your finances and you want to ensure that your income and the credit engagements that you enter into are done so in a manner that puts you in position to make the payments that are required based on your income that comes into your household on a monthly basis–notwithstanding unforeseen events.

1st Base—Utilization Rate

How you utilize your available credit is critical for maintaining a healthy credit score, and you want to know the rules of engagement prior to running to second base. By keeping your utilization of your available credit under 10%, you set yourself up for a more prosperous future.

2nd Base—Time Length of Your Accounts

By keeping older accounts open you help keep your credit score in a relative range assuming you cover the rest of your bases appropriately.

3rd Base—Type of Credit

By having different types of credit based on your goals, you can help increase your score to a higher level. Even if you have 5 or 6 credit cards, that might be enough for you to achieve what you desire if you pay consistently and build up your credit over a number of years.

Home Plate—Your call as to whether to apply for new credit

You are the umpire when it comes to decision making on whether you want or need to apply for new credit. Is it truly in your best interest to do so based on your goals, or are you responding to credit offers (electronics, credit cards, cars or other big-ticket items that may appear tempting) in an impulsive manner?

You want to manage the number of inquiries so you can cross home plate with confidence (achieve the score that you desire) and if the purchase of a home is on your wish list–do that effectively as well.

Conclusion

Improving Your Finances In An Intelligent, Consistent & Proactive Manner

By focusing on the 5 credit factors listed above, knowing the 2 major credit scoring companies (FICO and Vantagescore) and knowing the 3 credit bureaus or credit reporting agencies, Transunion, Equifax and Experian, you put yourself far ahead of those in the general population when it comes to effective knowledge of credit. However, knowledge alone of the 5 credit factors is not sufficient, you must also know how to apply that knowledge for your and your family’s greater benefit throughout your lifetime.

Whether you desire to retire early, purchase your dream home, save for your children’s education, save for your retirement, volunteer or donate to your favorite charity or achieve any other goals that you may have–you can make it happen (hit it out of the ballpark) if you prepare your mind for the journey by gaining the knowledge that you need to succeed.

Better yet, you can make it a walk-off Grand Slam in the bottom of the ninth inning (or any inning you choose) by not only mastering the 5 credit factors, you can also know how FICO and Vantagescore operate along with how the three credit bureaus operate along with knowing how to prevent fraud–thereby ending the game in “Grand” fashion!

Isn’t it time you give it your absolute best and hit a GRAND SLAM so that you can truly WIN and achieve the small and big goals that you desire again and again?

Whether you desire to hit for average or improve your on base percentage, it all starts by dreaming big (preparing in your mind to hit a grand slam) and applying what you have just learned at your highest level of excellence based on your unique credit position at this time.

In this fall season, you want to “season and marinate” in your mind what you must do to make your credit and financial dreams come true. By controlling your thoughts and actions you can reduce the time period needed to achieve your most pressing goals.

You want to always be prepared for an obstacle as you round the bases and have a plan to go around, through or over that obstacle in a manner that you cannot be denied!

All the best to your Grand Slam Success…

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