Credit Coach Jeanne Kelly Interview With The Breakfast Club (9-16-16)

you're watching The Breakfast Club morning everybody is DJ envy Angela ye Charlemagne to God we are The Breakfast Club we have a special guest in the building who helped my my life out and save me when I needed some help well let's see if you could pronounce her name Jeannie Kelly tomato that's correct let me tell you what happened um I was actually trying to buy a home and um something got on my credit that not my score down a hundred points what was it it was uh it was actually two things one I left Verizon and I went to AT&T and Verizon was supposed to pay the rest of the bill and they didn't and that was on my credit report when AT&T was supposed to pay the verities was a progressive rosin and they didn't and also my daughter got a medical bill and it didn't come to my house and went to another property yeah and I never seen it when it came up on my credit and it not my score down a hundred points and it was messing with the loan and I was trying to get so um I called Jeannie a friend of mine gave me her number yeah I've never met her this is the first time I'm actually meeting up yeah and she looked at my credit score and she said I don't know if I can do it but I'm trying to make this work I said I need it done in about a week two weeks and she said uh envied i'ma try my hardest and she was able to jump my score 140 points yes 140 hundred fifty in one week in about ten days 12 days how many free tickets you promised her for that I'd to pay for what it was a service Lori okay that's incredible cuz you always see all these ads on TV like Oh fix your credit score and people say that you can't really Ken because just like he said one was a medical bill and he wasn't properly notified right so wasn't like he wasn't going to pay it he didn't know about it so once he found out about it we made sure it was paid and then they removed it from the credit report so you can pay a bill that's old and they'll just remove it no not they just won't do it automatically but if there's a reason and we definitely had a lot of information that it was incorrect like that's not his address correct GD has connections like she made things happen I don't know she was like I'll get in touch with the credit bureaus like oh they have a number like she got connections and got it done now a lot of people they don't know about their credit so for people who are just starting off how can they make their credit great how can I make their credit good well the first thing is pay attention to it so you should get your credit report that would be the number one thing and you can have a credit report and it doesn't affect your score people think if they pull their credit report it's going to drop their credits more but that's not the case so you can get one at annualcreditreport.com for free for free for free annual credit and like that you get a free one so here is it once a year but there's three credit bureaus so you want to check all three for a baseline and then from there you know every year check in I even say you know if all of a sudden you can alert a lot of the credit card companies now give you your FICO score yeah yeah and any real credit not street cred you dumbass kids okay you can't buy anything with street cred now I'm just telling our intern cuz she was telling me that she doesn't have a credit card she was like you know I didn't want to get a credit card she's in school but I was like well a credit card is good because if you don't have any credit that's actually probably worse than having that's right yeah because you have no you know you'll have no score so definitely using credit in a healthy way is a great thing you know you can get automobile loans at a low rate or the mortgage that DJ needed whatever it may be fine you know it's it's something important to think about and when you're young you should definitely be using your credit by obtaining credit oh my credit was a mess when I was in college I had a bunch of credit cards I'm a 625 an hour so I couldn't even pay them I was buying everything I wasn't even opening the bills a lot of us has that syndrome of you know I know I don't have money like that so I'm just not gonna open the bill at all and they dial up and that's the thing so if you're listening and that's you today the most important thing is paying attention you can start today to rebuild your credit and you know it paying attention to it is key and even if you've been paying your bills Lea you know there's collections but if you start if you ignore it it's just going to stay right negative so if you at least say okay I'm going to pay attention as of today I'll make sure I pay everything on time then the next goal let me try to bring down those credit card balances because that's going to help your credit score now what about doing things I transferring your balance to a different credit card that has no interest for say a year yeah that's fine you know but again every time you open up a new account it's gonna dip your score so it's all about timing when should you do that I would never say go get a new credit card before wanting a mortgage because you want to make sure your score is at its highest level explain what the credit to debt ratio is because a lot of people don't know what that is and I recently had to find out that if you owe a lot of money or you know you owe a credit card a lot of money but you don't have credit that affects your score crazy yeah well part of the FICO score and I mentioned the FICO score because 90% of lenders use the fight looks like what a FICO score is cuz people be like what's-his-face what's a FICO credit score right so it's scoring your credit reports and the FICO score is what 90% of lenders use so it's a credit score it's just called the FICO it's my favorite four letter F word okay now so that's inshallah means about what's your favorite four letter F where shall we so anyway so 90% of lenders use it and 30% of your score is based on balances so if you're max down if you lower those balances you're gonna see your score go up immediately as soon as the balance gets updated so it may take 30 days but it doesn't your energy got right through about 10 days 30 days you got it done in 10 days now explain to the people because I was confused about this too that there are different scores that people look at like a mortgage company looks at this score a auto loan looks at this score and then a regular credit card looks at this go out like why are there so many different scores listen 90% of lenders so look at FICO but here's the thing there was 21 versions of FICO so you have to I mean bottom line pay attention to your FICO score and they just have them for different purposes like if you're going for a mortgage they may be making it a stronger score you know something harder because it's a larger loan but there's millions of scores out there you know you'll hear of all of these my credit score is this then I went to the bank it was a different score that's why we say pay attention to your FICA because that's what lenders look at if my credit scores like into 300 should I even try should I just give up farmers you should try it really easy to raise day our house credit school is in like the three no I don't know 300 I am here I have you ever seen I can I can help but I mean I had you about Nalanda which one you think your stereotype but just which one you think that guy with the dress missing I got into this industry because I had bad credit no I know everybody's feelings it's an emotional thing when you feel trapped I have I had my daughter I couldn't get an apartment to rent because my credit was so bad I had a car that was breaking down that I was wondering how am I going to do this I was a poor waitress just trying to make ends meet and after I took years to figure out the credit system and how to rebuild my credit I opened up this big I want to help help other people yeah I never want them to feel this way what did you cosign for somebody yes and they don't pay what can you do about that co-signing I wish they would just stop calling it co-signing and just joint because it's a joint account it's you know it doesn't matter if it's an ex-boyfriend if it's your child your husband whoever it may be you are jointly responsible for that account so as soon as that account hits your credit report it's going to report if they pay it late so I say if you are going to help someone then make sure the bills are coming to you so this way you would know if something is going to be late so you'll pay it so it won't your credit report and basically don't cosign unless you have the money to pay it right because if they don't pay no cause I put your boyfriend that you might not be with later go good say penis penis I'm sorry let's try the mean you can cosign for him can you take bankruptcy of the credit you can't take bankrupt you cannot you really cannot don't okay they can do it that's a lie well I mean I really don't think I like to build healthy credit the real way and if you had a bankruptcy it's okay you know that it's okay you can rebuild if you do nothing with your credit after the bankruptcy because you're afraid of it then you're gonna your scores going to stay low for a while but if you immediately go out there go get to secured credit cards they could be for a hundred dollar limit each within 24 months your score will be in the six hundreds again so you have to pay again it's just wax it go get them knowing what to do what about child support well if you're late and it gets reported it's on there okay is there any way to get that off yeah if you get kind you know it depends on the situation but it's it really just depends now is about this way to build credit huh the fastest way would be definitely going to get those credit cards you can also become an authorized user on someone's account now that's not join that means like I can put my daughter on my secretary doesn't matter I send you a card and that that account actually goes on their credit report and it goes on their credit report the date I opened it not the date I'm opening it for them so they get all of my history for that one account Oh a report so at the moment you know I'm talking about this now because it's still working on so that's one way to quickly that can hurt too cuz that happened with me when I was in college I was on my mom's credit card and I was on my mom's credit card - what that's two weeks ago what yeah how do you know you ready card all this glad you finally got off your mother's Murray I didn't know no to be a shadow so you are a grown man roll dice rest fade still why are your mom's crazy no I had to come off of it because you know her credit was part of my credit and that was too much credit side to get off it just that one account yeah and then once he got off because let's say that had a high balance then that helped him so it can help it can hurt it's just that's a quick thing okay I mean honestly you can get your credit score quickly raised by getting new healthy credit it doesn't matter if it's if it's a secured card people are like oh I really don't want it as long as it is a major creditor and it'll go on all three credit report a rush card like um like that card or capital ones or you know chase any major company as long as they report to all three bureaus within a few months it's gonna help your score that's what that's what helped me out a lot yeah that the restaurant getting not a regular restaurant we're getting the credit getting to us but what it caused occurred thank you your credit card do you put the money in the bank and again people get fixed on how much should it be should I try to put away a thousand dollars it doesn't matter if it's a hundred dollars and you use it once up to a hundred dollars then bring it back down and try to never use it over you know try to only you twenty bucks on it per month because then it's showing consistency it shows that you went up high once and that was your limit and man talk to the bank about putting you on auto pay so you don't miss no payments and B to do that with your cell phone I should but I'm not that what about talking to your significant other about their credits yeah you're in a situation it's a hard thing for people to discuss people are embarrassed yeah if they don't have good credit how do you approach a situation like that it is important to talk about right away because I feel like in a relationship you kind of have to know especially if it's going to the next step so sometimes if you just both bring out your credit reports I know it sounds so crazy but I mean if you do ask someone how much do you make for a living right how many money to use if I can show you my hiv/aids results I can show you my credit ready right yeah so I mean it's an important thing we all know that financial problems are a big issue with divorce and issues in a relationship so I think talking about credit in a healthy way and just saying it's okay because a lot of times people feel so bad and of course I know I felt that way and but we all get stuck in a situation we might not you know we lost our job nobody wants to not pay their bills right you know so something happened and so just figure it out but if you start talking about it with um your partner and you realize okay that I have good credit and he doesn't then help them you know i get on it i get these alerts right that i signed up for is it even worth it where every month they tell me if there's anything that goes absolutely no there's like seven dollars a mile get up like every three days how about that every three days it tells me my gas emission down to credit oh yeah I get that too every three days okay I don't want your mail today no it was every other day but I get it very often yeah I mean to me if you're too busy it's a good thing because all of a sudden we live in a world where there was a lot of data breaches and a lot identity theft so if you can alert oh this account was just opened in your name and you didn't do it the best way to resolve something like that is quickly so I think it's a fabulous thing to monitor your is it true that if you don't pay a bill and something bad is on your credit report it just goes away in seven years so you don't have to pay it well you it can come off your credit report in seven years yes but that doesn't mean you're not responsible for the debt they can still come after you for the dead it's just not on your credit report oh well then who cares acting like that Howard boy how important is credit okay a lot of people think cash is king and like I used to follow Suze Orman this used to always say don't don't spend credit on anything if you don't have the money for it don't I agreed not to go crazy with your credit but I just feel like we live in a world I I would never be able to own my house without having a mortgage so I just feel like we need it and not only just for the fact of these big-ticket items or an automobile loan even sometimes employers look at your credit not your score but your report so it's like I don't want to lose out on a job because of my credit and we can all get control of it you know even if you're right now listening and you're having bad times you can change that you can change it today by focusing on it and it really is just a little bit of work that can and you'll start feeling good about how easy is it to do your credit cuz Ashley did hose herself I did my mind I could I have a lot of bad things in mine I had a sex bill that was 30 days late cuz I just like forgot to pay it and it was four years ago okay so now I thought yeah they took it off though they do is it easy to do or is it difficult at times it just takes time it's tedious it yeah and that's why I have a lot of programs where I'm like with a classroom always reminding you did you do this do this next step by step easy process so instead of going round and round and not knowing what to do because a lot of the problems I had when I was working on mine in the beginning is you know you take five steps four and then you're going back towards 10:00 because you didn't realize something you did wrong so it just depends but I think that it is very easy once you know what you're doing right kind of like a recipe right once you know how to make something and you have that recipe there you know it's not credits cameras out there a lot of people that say they'll fix your credit they take people right yeah and that's something you have to be careful of but I always hear stories about people that you pay this money and then your credit doesn't even change now because I when I posted a little picture of you and you fixing credit people like oh that's fake but I told me but I I really never fade I've never met her she I paid her and she did it I'm like people always ask me how do you get your credit how do you do this I'm like she really does it right you know so how can people get their credit fix by you if they want to call you or help have your service if I good their credit yeah they can just go right to my website and Geney Kelly dotnet and on there there's all the products that I have and really the best thing I think is my class that I do online because people can do it 2:00 in the morning 9:00 a.m. whenever they want but I take them step-by-step and within six weeks they'll see an improvement if they do the work and when I say work I'm talking an hour a week and then they have that knowledge forever right they'll know like that you'll know what you're doing with your cran you can't die because I got a call you fail because yeah please oh yeah that's a pretty selfish thing saying like that you can't die that I need you yeah get your family kids web out slow they need you well how did your daughter's here how was your daughter's credit my daughter's credits beautiful that's right she's a student em and I made sure at 16 I put her on as an authorized user on one of my accounts and I taught her how to use a credit card like hey she had a job at the library I was like you're driving now you're 16 use it for gas pay it when the bill comes in so she learned that way and then when it was time to go to college she got a secured credit card then the store credit card now her American Express you know and it keeps going on and on and she has over a 740 fight oh wow and it better stay that way so you advise parents to have their child have credit card to start young apps solutely I mean I think learning in your home at a young age I just figured if she can drive she can start learning seriously about her credit future and also to benefit the parents maybe we don't have to sign the student loans if they need it or when they get out of college not signing for that apartment because she already has a credit score and a good one so that that's a big goal of mine well I'm gonna get you information cuz you know I think my credit is good but I want it to be great that's Angie yeah why not now let me ask you I have a couple more questions about credit okay now some people say that if you have like say that the credit collectors come after you right and you owe X amount of money can you barter with them and get that down make him a deal yeah you can settle now you always have to remember when you settle an account if it's over six hundred dollars you get 1099 like it's income on what you saved we have to be careful about that and it's fine though because some people they can't pay it any other way right so I don't love seeing settled accounts on a credit report but if that's your way out it's better to get it over with pay them and then start rebuilding from there because if you leave it alone and then it goes it from a collection to a judgment it just makes it worse and it makes it harder and then there's more interest you on that debt so if you if that's your way out it's okay now is it such a thing as a good debt like having a mortgage on your house yes does that help your credit cuz you owe so much money or is it good because they could see you paying it every month yes it's good it's good but you know part of the FICO score 30% is history so seeing like a great account like that is is a good thing and when I talk about the 30% of the balances yes your mortgages included your auto loans but not a big factor the big factor of that part is the credit cards that's where you can control it so even if you have let's say a fifty thousand dollar auto loan if you paid that off instead of paying off twenty five thousand and credit card you'll see one point maybe for the installment of the auto loan well but if you pay down the credit cards you'll see a big jump what about enquiries I know it when you go to if you go to like let's say a dealership and they you know run your credit does that mess your credit up at all well it's an inquiry so yeah it'll ding it a little bit dealer you go to itadaki credit down well not really they if they pull it for an auto loan or mortgage they want you to do rate shopping you know it's healthy to get the best rate so you have a 30-day window that you can shop around you can go to different dealerships you have the point counts one inquire okay as long as it's pulled like for a mortgage each time they pull it correctly what about paying off things all at once that's fine yes great yeah yeah just don't I love this the credit card you don't dissipate things over what they say paid doesn't matter it doesn't matter yeah it doesn't matter and also again though I have a lot of people who will all of a sudden close all those credit cards that they had that's not a good thing leave them open let it that was the old way of thinking that's but now like they like I see yeah they like to see hey Jeanne has you know all these credit cards available and it's helping my ratio right I'm last question out my mortgage I always try to pay more than what I owe every month yeah is that does that matter like for my credit is on your credit it doesn't matter at all okay yep they don't it doesn't matter and that's great financially even though I'm not a financial expert that's a fabulous thing yeah but as far as the credit it's just as long as it's paid on time for the mortgage that's what's key okay now you have two books out right now explain these books I want is the credit makeover and the 90-day credit challenge what it yeah well both of them are really step-by-step how to help you fix your credit and the credit makeover is a new one more geared towards the women and I just read it in a fun way but basically the information is always going to be just a fun way like a sexy way well making over you know yeah I'm gonna say that so it's just I I twisted it up a little because I do so much speaking with women and I just wanted to put a twist on the credit industry and I have to say you know it's not always great talking credit it gets boring so I just wanted to make a little more fun but the basic rules are there though you know so if between either of the books it's really I'm also a sports fanatic so the 90-day credit challenge is more like a game and so it just whatever you like better but I'm just gonna teach you about credit and I just want you I want people to not feel stuck and to have the bet save money I hear people talking all the time like I'm going on a budget I'm doing this do you know your credit score no and I'm like okay well you could be losing money if you haven't checked your credit got you so it was just really important should I do it this I just got this email I just got approved for that right what should I do with that you gotta prove what should I do this yeah why not take it congratulations you have pre-approved for something you didn't ask for or did you sign up for Oh looks like hard for about it yeah just you totally got it yeah it's not a pre-approval for this treated like a regular critical yeah you got a black heart no don't worry about it but just treat it like a regular credit card and using credit again we shouldn't be afraid of it it's a great thing when we wanted Maggie let me tell you something yeah and I was telling our intern this also earlier I use my American Express card the money in a bank I use that card for everything because I get all these points and then I pay it off every month yeah and so that's great for me because I get a bunch of different points so that's how I managed to buy some designer things yeah and I get some miles and you get some free trips and free nights and hotels and I paid a card off instead of just using the cast directly from the bank I use my Amex card get my points you know I'm cheap yeah you know the last question I want to ask is trade lines uh-huh you hear that a lot people say don't just add trail odd than it'll help your credit is that true and is that straight lines or accounts okay trade lines are a credit card a mortgage an auto loan so every time you build new credit it depends when healthy you know with the timing you wouldn't want to be doing it before a mortgage but when the right time is it's just building new crack their little trade lines illegal trade lines are the accounts they just call it a trade line instead of a credit card a mortgage it's just what they call each one it's a trade line yeah how hard is it to get fraudulent activity off of your account if you're like this wasn't mine oh you know what you got to roll up your sleeves and fight it but if it's not you it's not you so you may need to do a police report but it's just a family member it's very happens all you know it's a sad case it's a sad case because you're kind of stuck because you've got this family member who committed fraud so it really if you'll get locked up yeah even get him locked up well your credit be mad or you could it be bad what would you do get him locked up yeah yeah what would you do Emmy get him locked up ding it is difficult that's a hard one and I hate when I get those phone calls you know bad enough if you're a victim and you don't know the person but when it's a family member again if it's one account maybe it's not such a big deal it's how much you know they open up the light bill in your name and you didn't know about it and then it goes to collection and it goes on and you're like I don't know what this is and then you find out it's your cousin yeah yeah it's horrible and it does happen but if you're paying attention like you said in monitoring you could resolve it right away right you know well we appreciate you joining us and helping the people out today try to get your life together Tom the website again thank you making over your credit is sexy okay ladies yeah website again Jeannie Kelly so I spell my name je a and n e ke l ly dotnet dotnet then highlight her she'll fix your life like she fix mine thank you for coming thank yous writers Club good money The Breakfast Club every weekday morning tune in [Music]

Channel: Breakfast Club Power 105.1 FM

Views: 200,017

Rating: 4.8715739 out of 5

Keywords: Jeanne Kelly, Credit Score, Credit Report, Credit Coach, The Breakfast Club, DJ Envy, Angela Yee, Charlamagne Tha God

Id: ad5P1atchxI

Length: 25min 51sec (1551 seconds)

Published: Fri Sep 16 2016