The Credit Formula: The Guide To Building and Rebuilding Lendable Credit

By Michael Kirk

The Credit Formula is a must read for anyone Building their credit. 

Are you familiar with lenadable credit?

If your like most you probably aren't

Lenadable credit is an equalizer, its a game changer! When utilized effectively lendable credit can help you live the life you deserve and create generational wealth. 

"The Credit Formula" helps readers understand the credit, the powerfulness of lendable credit, and guides them on how to build and rebuild their credit profiles to utimately change their lives. 

 

90 pages. 

• Language: English
• Publisher: Michael Kirk
• Release date: Mar 4, 2021
• ISBN: 9781393957041

Book preview

DEDICATION

This book is dedicated to Makayla, Ashton, and Landon as well as my friends and family that were too embarrassed to discuss their credit profiles with me or seek help elsewhere for fear of being ridiculed. Having poor credit is a symptom of capitalism, it is nothing to be ashamed of nor is it a reflection of who you are!

PREFACE

Born in 1981 to a single teenage mother was a gift and a curse. The gift was I learned and navigated the world alongside my mother as she was not too many years older than me. Despite her incredibly young age, she engrained within me the importance of morals, values, and being a good person. The curse was, in spite of all her efforts, my mother had no resources, and could not teach me what she didn’t know!

What she did teach me was hard work pays off and I religiously lived my life by that rule until I realized it was not completely true. Hard work did not get me where I wanted to be in life, or anyone else that I am aware of for that matter. Because of how I was raised I earned a full scholarship and was blessed to be the first person in my family to go to college and even on to graduate school to obtain my master's degree in Counseling. I was determined to work harder than everyone to become successful and achieve the American dream. On countless occasions, I was literally the first person to arrive at work and the last to leave. I always went above and beyond. I gained the knowledge, experience, earned all the qualifications, but I still had to work three times as hard just to live a decent life. And by decent, I mean owning an average size home, not living paycheck to paycheck, and being able to take a vacation a couple times a year.

Just when I was about to accept my life for what it was, I started thinking, this can’t be it! I deserve so much more. Do not get me wrong, I was thankful for everything I had but I knew I had not reached my potential. After countless hours of research motivated by sheer necessity, I discovered the missing link. While hard work is a piece of the puzzle it is a very small piece. What I lacked was knowledge, a solid understanding of money, finance, and credit. Most importantly, the power of lendable credit.

ACKNOWLEDGMENTS

Iwant to thank my wife Temelia for always supporting my dreams and aspirations no matter how often I changed them or even when she could not visualize them. I want to thank my mother Yvette for teaching and instilling within me the importance of being a good human being. I also want to say a special thank you to my friend Renatta Davis that selflessly became my editor to help me bring this book to life. Your feedback was greatly appreciated!

TABLE OF CONTENTS

Dedication........ ...............................................................iii

Preface.............................................................................v

Acknowledgements........................................................vii

Introduction.....................................................................1

Chapter 1: Misperception of Credit.................................3

Chapter 2: The Power of Credit.......................................5

Chapter 3: The Cost of Poor Credit................................13

Chapter 4: Understanding Credit Scores.......................19

Chapter 5: Understanding Credit Profile.......................29

Chapter 6: The Golden Rule...........................................35

Chapter 7: Strategies & Techniques..............................37

Chapter 8: Primary Accounts.........................................45

Chapter 9: Credit Builder Accounts...............................53

Chapter 10: Student Loans............................................59

Chapter 11: Take Action................................................63

Chapter 12: Utilizing Your Credit Profile.......................67

Closing............................................................................69

Glossary.........................................................................73

Bonus Materials.............................................................83

INTRODUCTION

Istarted my personal credit journey at 500 and worked relentlessly for 3 years to achieve a lendable credit profile that has empowered me to achieve my financial goals and provide my family with the life they deserve.

During those 3 years I acquired life changing information and gained a complete understanding of credit. I learned the true power of credit, how to build & rebuild it, and most importantly how