Credit Mastery

What is manufactured spending?

• Spending money on manufactured goods

• Buying things with your credit card and redirecting those purchases to something more useful or profitable

• Spending money on anything without a payment option

What is the risk associated with manufactured spending?

• Getting higher credit card limits

• Getting cashback or rewards points for the transaction

• Getting your credit card limit reduced or getting your card shut down

What is the closing date of a credit card?

• The date the credit card company reports your history to the credit bureaus

• The last day of a credit card's billing cycle and when the credit card statement gets compiled for the account

• The date your bill is due

What is the process of hiding utilization?

• Paying the credit card balances to $0 for cards due on the first half of the month by MS’ing your debt to the cards due on the second half

• Maxing out your credit cards and not paying them off

• Removing any old inquiries from your credit report

How can you hide utilization when your credit cards are maxed?

• By using the same process of moving your debt to another card

• By not paying your bills on time

• By not using any credit cards

What is the main issue many people are dealing with right now?

• Lack of education

• Poor credit score

• High interest rates

• No access to credit cards

Why should you work to improve your credit score?

• To open the door to a plethora of opportunities

• To avoid high interest rates and fees

• To have a better understanding of financial literacy

• All Of The Above

What are some of the things you can leverage credit cards with?

• Free Traveling, College Tuition, and Digital Assets

• Stock Market, Funding new businesses, and Real-Estate Investing

• New streams of income, funding new businesses, and college tuition

• All of the above

Why is it important to learn about credit literacy?

• To be able to liquidize your credit card.

• To avoid using cash advances.

• To uncover the secrets on what to do with your credit moving forward.

• To use credit cards only for purchases you can afford to make.

Why is it important to learn how to liquidize your credit card?

• To avoid using cash advances

• To increase your credit limit

• To earn more reward points

• To improve your credit score