Podcasts about ecredable

In this episode of Money Talk With Tiff, Tiffany Grant welcomes her mentor and friend, Steve Stewart. Steve delves into the intricacies of qualifying for a traditional mortgage without relying on a traditional credit score. Listen in as Steve shares his personal journey of securing a mortgage with a zero credit score and the tools and strategies he used to achieve this. From leveraging utility payments to using tech solutions like eCredible and Experian Boost, Steve breaks down alternative pathways to building creditworthiness and securing a mortgage.Check out the full show notes: https://moneytalkwitht.com/podcast-show-notes/mortgage-without-a-credit-score/About Our GuestSteve Stewart is the Podcast Editor for some of the biggest indie personal finance podcasts like the Stacking Benjamins Show, Afford Anything, and the MilMo Show.He also created the Podcast Editors Club, now with over 9,000 members, and co-founded the Podcast Editor Academy - which helps individuals build their own podcast services business.If you're looking for help with your podcast, Steve is there to support!Key Points DiscussedWhat constitutes a traditional mortgage and the role of a FICO score.Steve's personal experience of maintaining zero consumer debt since 2007.Importance of payment history and amounts owed as components of a FICO score.Introduction to tools like eCredable and Experian Boost to report alternative payment histories.The benefits and security of using debit cards for travel and daily expenses.Practical advice on focusing less on traditional credit scores and more on financial responsibility.Resources MentionedeCredable: eCredable Website (affiliate link)Experian Boost: Experian Boost WebsiteFollow Steve StewartWebsite: SteveStewart.MeSocial Media: @SteveStewartMe on all platformsFollow Tiffany GrantWebsite: Money Talk With TiffSocial Media: @MoneyTalkWithT on all platformsWhat's Next?Explore the options available through eCredable and Experian Boost to build a non-traditional credit score.Review your current debts and consider strategies to pay them off promptly.Evaluate the benefits of using debit cards over credit cards for your personal spending habits.Share this episode with someone who might benefit from understanding alternative ways to build creditworthiness.Support this PodcastThanks for joining us on this insightful episode with Steve Stewart. Be sure to subscribe, rate, and review Money Talk With Tiff on your favorite podcast platform! If you have any questions or topics you'd like us to cover, drop us a message on social media.This podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacy

Okay, so the purpose of the credit score is to give lenders something upon which to frame a quick decision: Should I loan to you or not? But not everybody has a credit score. Those without one are called the “credit invisible” consumer market. But 99% of people pay a phone bill. In this episode, I interview Steve Ely, CEO at eCredable, about using alternative data to help the 46 million credit invisible market build credit.

Now in general, I’m not a fan of paying for a credit score and generally think it’s best to just be patient and build it over time. But I think it might make sense for some people who are thinking of applying for a significant loan or mortgage in the near future. So in this video, I’m going to break down how you can buy a 730+ credit score with only about $25. Add me on Instagram! - AppleCriderOfficial So if you’ve heard anything about buying a credit score before, you’ve probably heard of buying tradelines. I give that a big thumbs down because you’re essentially paying someone to add you to a line of credit that they have had established for a while. These are deceptive, can cost thousands of dollars, and may sometimes qualify as bank fraud. So let’s steer clear of that. Instead of potentially committing a crime, I’m going to fill you in on a way to “buy” a credit score that is 100% by-the-books and approved of by banks as a legit way to establish your credit. This is by reporting your bill payments to the credit bureaus. Your credit score is largely a measure of your ability to make on-time payments (this makes up 35% of your credit score), so many banks are willing to take your cell phone payment and utility bills into account when calculating your score. This can be an ideal solution for people in the Dave Ramsey “credit cards are evil” camp because it allows you to build credit without the use of credit cards or the potential to get into debt. Now, you personally can’t just start editing your credit report and adding your Netflix payment to your credit report, but there are a number of companies that will allow you to do just that. One of them is a completely free option, and the other is going to run you $24.95 per year. The free option is Experian Boost and it is a service provided by the credit bureau Experian to “boost” your credit score by linking to your bank account, finding the monthly bills you pay and subscriptions you are on, and reporting these on your Experian credit report. These are only going to show up on your Experian report and not on your TransUnion or Equifax reports. So if you’re in the market for applying for a loan, it might be worthwhile to ask the lender which report they’ll use before you sign up for Experian Boost. But what about the downsides? Well, Experian Boost only reports positive payments which might seem like a good thing but lenders aren’t a huge fan of this. Imagine if every time you paid late on a credit card or went into default you could just opt out of putting that on your credit report. Kinda makes the whole system not very useful. So some banks don’t value Experian Boost as highly as typical on-time payments. The paid option for increasing your score is similar but likely to have a bigger impact. This is called eCredable. eCredable is going to work with your TransUnion report instead of your Experian report and is generally looked at more highly by lenders. That’s because they don’t plug into your bank account. Instead, eCredable plugs into your utility and phone bill accounts to track your payment history. As a result, they’re going to be reporting on-time payments as well as late payments so lenders will know they’re getting the full picture. Additionally, eCredable pulls back the last 24 months of payments across an unlimited number of accounts which can have a really big impact for someone with low-or-no credit. On their site, they estimate that a person coming in with no credit could see their score jump to over 730 with only 3 bills that they have paid on-time for 12 months. That’s a huge jump and enough to make you eligible for many of the best rewards credit cards out there. In the end, I think that both of these services have a use case for people who need to build their credit from scratch and are looking for a better option than a predatory credit card. Experian Boost is free and the biggest downside is that it won’t impact your score at all, so if you’ve got a thin credit file and pay bills from your bank account, it might be worth it to take a couple minutes to sign up and see what happens. eCredable does cost $25 per year which is more than zero, but if you are planning on applying for a loan relatively soon, paying $25 to boost your credit score by a potentially significant amount could end up saving you thousands of dollars or more. Personally, I don’t use either of these nor am I incentivized to get you to sign up, but I do think they make much better options than buying tradelines or paying someone $200 to remove a credit inquiry off of your report. TIMESTAMPS 0:00 Intro 0:40 How NOT To Buy A Credit Score 1:30 How Buying A Credit Score Works 3:00 The Free Option (Experian Boost) 5:10 The Downside Of Experian Boost 6:55 The Paid Option (eCredable Lift) 8:25 How To Boost Your Score To 700+ 9:30 Who Should Use This Strategy? 10:45 Other Routes For Increasing Your Credit Score 11:40 Outro

eCredable CEO Steve Ely joins Ilyce Glink to discuss all the ways credit is being affected due to the coronavirus. He offers suggestions for ways to save your credit score before you see irreversible damage and answers a slew of listener calls.

eCredable CEO Steve Ely joins Ilyce Glink to discuss all the ways credit is being affected due to the coronavirus. He offers suggestions for ways to save your credit score before you see irreversible damage and answers a slew of listener calls.

Segment 1: .Most small business owners don't realize that their personal credit score and business credit score are different, and you actually have more control over the latter. We show you what factors into your business credit score and what you can be doing to keep it in the upper range. Steve Ely is the CEO of eCredable, a credit bureau that is changing the way you establish business credit. Steve was formerly the President of Equifax Personal Information Solutions, which provides credit-related products to consumers that help them manage their credit health and protect themselves against identity theft.Segment 2: We discuss the most important sections in a business plan and what you can do to make them as strong as possible to impress investors, but also to give yourself a roadmap. Garrett Sutton is a corporate attorney, asset protection expert and bestselling author who has sold more than 900,000 books to guide entrepreneurs and investors. For more than 30 years, Garrett has run his practice assisting entrepreneurs and real estate investors in protecting their assets and maximizing their financial goals through sound management and asset protection strategies. The companies he founded, Corporate Direct and Sutton Law Center, have helped more than 10,000 clients protect their assets and incorporate their businesses.Segment 3: Thanks to the advancement of technology, it is now becoming commonplace to deal with clients, customers and employees from all over the world. We discuss how to deal with the cultural and racial conflicts that may arise within companies as a result. Jesmane Boggenpoel is an experienced business executive and former Head of Business Engagement for Africa at the World Economic Forum. She has served on the boards of various South African and international organizations. She is a Chartered Accountant and holds a Master's degree from Harvard University's JFK School of Government. She is the author of the book “My Blood Divides and Unites”.Sponsored by Nextiva, Corporate Direct and LinkedIn

  Debt free people: Have no fear. You can prove you are creditworthy without a FICO score with eCredable. Steve Ely joins us to share how the credit scoring landscape is changing. Not only are more lenders leaving the traditional credit score algorithm behind but they are finding more consumers are creditworthy without it! eCredable … Continue reading Changing Credit Scores from 123 to ABC with eCredable →

#194: Although he has an entrepreneur’s heart, Ace doesn’t believe anybody should start their own business. It is much easier and profitable to buy an existing business, improve it, and sell it for a profit. Full notes at   Ace's book:  Find Ace at:  Or Twitter:  ______________________________   Don't worry about your credit score. Do what's RIGHT with your money. When it is time to prove your credit worthiness call on eCredable: (free monthly membership with this code: SOS)  

#34: I AIN'T PLAYIN' NO MO! The FICO Score is a one-sided system of debt evaluation and does not take into account your true financial history. The 5 Components of a FICO Score: 10% Type of credit (debt) 10% New credit (debt) 15% Credit (debt) history 30% How much you owe 35% Debt payment history It's all based on debt! For more information, visit the show notes at   

#33: Steve Ely, CEO of eCredable, used to work for Equifax running the Direct Consumer Business. One of the challenges he experienced was they had a very limited scope in terms of how they could help consumers. Consumers really wanted help with financial advice or with their credit file but that was not what they were there for. Their primary business was to serve companies, not consumers. He left that company to become CEO of a company that does serve consumers and individuals. Introducing eCredable.com! A service that helps individuals build a true picture of their payment history that every creditor must take into consideration when they use other credit related information to determine your credit worthiness. What is the difference between traditional credit score lending and eCredable? FICO score: A numerical score based upon Amounts Owed (debt), Credit History (from debt products), New Credit (new debt), Type of Credit (debt), and Payment History (on the debt). In summary, borrow a lot of money and pay interest regularly over a long period of time and you will have a great credit score, allowing you to borrow more money, get lots of credit offers in the mail, and be a target for identity theft. eCredable AMP (All My Payments) Credit Rating: An A - F grade of your true payment history, NOT JUST PAYMENTS MADE ON DEBT PRODUCTS. Your electric bill, rent payment, daycare tuition, the month-to-month type bills most of us have that are never factored into a FICO score. If you have debt, your current payments are taken into consideration when you include that in your eCredable profile. Who can eCredable help that FICO doesn't? Graduates: Starting out their adult life as an individual with bad credit or no credit. Ever try to get a cell phone without a credit history? Ever been turned down for an apartment because of your credit score? Get past dummy lending (getting approval from a FICO score) by showing your AMP Credit Report. Immigrants: Why would you come to this country only to learn you have to incur debt in order to "build their credit"? Individuals that are here legally and don't have a traditional credit history can show that they have a good payment history with eCredable's AMP Report. They can apply for bank accounts, get better rates on car payments (which I don't recommend), even use it when applying for a job with a company who looks at your credit score. People who had bad credit and just can't wait for their FICO score to improve: Why wait for your credit score to "heal"? Use the eCredable Report to get better terms or interest rates when lenders Debt-free lifestyles: Continue to pay the light bill, phone bill, even child care and you will likely qualify for the best rates on car insurance and mortgage rates - even when you have a zero credit score. Build your AMP Credit Report To build your own AMP Credit report, sign up by going to