How to Improve Your Credit Score: Part 2 of 2

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( — March 19, 2014)  Austin,TX — In their newest segment, The Elevation Group’s Mike Dillard and Robert Hirsch discuss with a credit expert the benefits of achieving and maintaining a higher credit score. The credit expert suggests 720 as the number a person should increase their credit score to.  Additionally, he provides some insight and suggestions a person can utilize to improve their poor credit scores. Not only does having a lower credit score lower an individual’s buying power, but it could also significantly increase their interest rate on any loans they take out.


For example, the credit expert explains the significance of sixty one points in a credit score. Using 720 and 659 as reference points he creates a scenario of two individuals visiting their local car dealership looking to purchase a new car for twenty-five thousand dollars. If the only difference between these two buyers was a sixty one point credit score variance many people would assume that they would get a similar payment plan for their respective loans. However, that’s not the case. Let’s say the consumer with the credit score would receive an interest rate of x% (Consumers can use the current rate when reading this). Alternatively, the individual with the lower credit score would see their rate at x% plus 7.44%. Putting this in the perspective of real dollars the credit expert explains that this would effectively cost people with scores of 659 one hundred and fifty dollars a month more. Extending this over the duration of a typical car loan and this amount could double, triple, or even quadruple interest payments. This puts a lot of money at risk over something that can fluctuate greatly with easy to make mistakes.

Moreover, he shows that 659 is an ordinary credit score, not terrible but pretty mediocre, and can be caused by as little as one mistake on a credit report. Many people struggle to understand how a score can change so drastically over a late payment or bad credit card. Furthermore, the expert describes situations where a credit score can drop from that coveted 720 score to the mundane 659 score overnight. Conversely, he also emphasizes that an individual does not need a clean credit report to have a good credit score.

Throughout this segment the credit expert wants to make it clear that a person does not need a clean credit report to have a good credit score. He introduces the viewers to his 720 credit score game and explains how someone can repair a credit score even with late payments. There are a lot of variables when it comes to calculating an individual’s credit score and understanding what can and cannot be done is the most important step to repairing one’s credit.

For example, understanding that just like a bad credit report doesn’t mean a bad credit score, a clean credit report does not always reflect a good credit score. If a negative mark appears on a person’s credit report he advises rebuilding credit around these legitimate blemishes rather than fighting them. He points out that on the FTC’s website it states that it is illegal to attempt to get something removed from a credit report that is legitimate. Just attempting to do this is a serious infraction and if a claim is legitimate he shares some methods and techniques to rebuild a credit score around it.

The first segment from this series can be read about here:How to Improve Credit Score: Part 1 of 2

To learn more about understanding credit and for other valuable financial information sign up for The Elevations Group’s informative webinar at:      

The videos from this part of the series can be watched here: – How a 61 Point Credit Score Difference Affects Your Interest Rates – The Secret to a High Credit Score With Bad Credit History

About: The Elevation Group was founded by two successful entrepreneurs, Mike Dillard and Robert Hirsch, who watched their friends and family members experience pain, fear, and loss during the financial crisis of 2008, while noticing that the rich grew even richer during the same period. Since then, The Elevation Group is the fastest growing financial education company on the planet, teaching people new ways to think about wealth. They have taught more than 50,000 members since 2010.