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At the age of 18, Americans graduate high school, move out into the world, sign leases, start jobs, and take out credit cards. With little to no financial education provided in grade school, these individuals have no idea how to build a credit score, or even worse, how to avoid bad credit. That’s why 4 in 10 Americans have no understanding as to how their credit score is determined.
This gap in financial literacy is why nearly one-third of the population lives with poor credit today. When you’re strapped with bad credit, banks won’t lend to you, people won’t invest in your businesses, and credit card companies won’t give you big-time cash-back and travel perks.
The problem is that this kind of poor credit is accumulated by young Americans before they even have a chance to learn about the potential of credit. The Credit King himself, Colin Yurcisin, fell into the same trap. With $40,000 of debt in his early 20s thanks to student loans and a get-rich-quick scam, Yurcisin had to make a decision.
“I decided I could either let my debt dictate my future, or I could control my debt, pay it off, and change my life,” said Yurcisin. “I began to read every book I could find on credit and educate myself about this elusive number attached to my name. I took courses, I dug deep, and I shared what I discovered with my social media following. Funnily enough, I began to build this community of people who wanted to know more about how I ridded myself of $40,000 in debt.”
With more people requesting that Yurcisin share his discoveries related to credit, the financial entrepreneur launched Credit Class: a comprehensive credit education platform. Designed to fill in the blanks regarding building credit, fixing bad credit, taking out strategic credit cards, requesting business credit, and more, hundreds of students began enrolling in Yurcisin’s educational platform.
Why Credit and Success Are Synonymous
Today, the Credit King tells as many people as possible about the potential of credit. Why is credit so important for your future? Yurcisin says it’s essential for a few reasons:
Save More Money on Loans: Loans are an essential part of building out your life as an adult. Whether you need to buy a car, a house, or take out a business loan, better credit equals better deals. If you have poor credit, banks will strap on higher interest rates that make it nearly impossible to pay off the loans. Better credit makes it easier for you to make investments, explore your options, and grow your empire.
Business Credit Opportunity: Who wants to work a 9-to-5 the rest of their lives? Close to no one. That’s why everyone dreams of starting their own business. However, starting a new business requires capital, and therefore, comes with plenty of risk. As Yurcisin discovered, if you’re not careful, you can get scammed.
Business credit is an important instrument at your disposal for starting a business. This form of credit comes with higher credit limits, giving entrepreneurs three-times their highest personal credit limit. If a person has a credit score that allows them to spend up to $6,000, a business card would triple that to $18,000 upfront. It’s a form of long-term capital that can change your life.
Credit Card Perks: Credit cards are magnificent tools that, if used correctly, can help you live a more comfortable and affordable life. Many travel credit cards can be used for free flights, hotels, and rental cards, as well as access to travel lounges and upgrades. If paid off in full correctly, these cards can be overlapped to provide almost entirely free travel. And that’s just an example of travel – plenty of credit cards are used for other requirements, like free dining, shopping, etc.
Being able to invest, take out affordable loans, build a business, and travel for free are a few reasons why credit is undoubtedly the foundation of your present and future success. The Credit King wants as many people as possible to come to this realization. For those that are looking to learn more about the potential of credit, they can check out the Credit Class today: http://www.leveragedlifestyle.com/creditclass.
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