My Credit Score JUST got Destroyed... AVOID THIS

hey everyone me kevin here so the

campaign to become governor has

literally ruined my credit score

i kid you not it got ruined in fact

i'm gonna show you exactly what happened

because i've never been late

on a bill or payment before and i still

haven't been late

but i'm going to show you exactly what's

going on so you might not know but

running a campaign costs a lot of money

and i've been fronting hundreds of

thousands of dollars

to run this campaign and we've got some

really really

incredible announcements coming up but

we gotta focus

on this credit issue okay so let's bring

you back into history here a little bit

take a look at this

on april 12th my credit score at the top

here on credit karma you can see it went

up 20 points it was at about 8

10. i do use my credit a lot so it

doesn't sit around

850 usually because i'm constantly

running my credit and using my credit

and the more you utilize your credit

especially if you're constantly doing

mortgages or refinances

usually your credit doesn't sit higher

than like that 790 to

828.30 range but anyway credit was

somewhere around

at 810 here by the way i've got a full

video on how

credit scoring works and how the

algorithm

thinks if you want to watch that make

sure to type into youtube meet kevin

zero to 850 credit score but anyway i

had an 850 here

and then we announced our campaign in

may so we had no real changes here you

know a little fluctuation changes 10

20 points here eight points there three

points there whatever

no big deal a little bit of fluctuations

this doesn't matter as long as you've

got above a 740 it doesn't really matter

usually these scores fluctuate a time a

little bit because of balances on a card

or whatever

then all of a sudden june 21st came

around and my score fell 114 points

to 665.

and any of you who are members of my

courses

know that this is bad this is not good i

would not rent to myself

right now which is weird uh to say uh i

uh of course we've got programs on

do-it-yourself property management

rental renovations real estate investing

stocks options technical analysis all

that

check out the links for those by the way

down below because there is a

course coupon code that does expire on

tonight well actually tonight july 22nd

that is tonight the price goes up

tomorrow

but anyway uh here we go june 21st 114

points

in the toilet so naturally you might be

wondering what the heck happened well

what happened was

actually something that has to do with

this this right here

in case you don't know is the jp morgan

reserve

card it's also nicknamed the 10

million dollar credit card the reason

it's nicknamed the 10 million dollar

credit card is because unless you have a

connection to get into the jpmorgan bank

you need about 10 million dollars of

investable assets to get in

with jp morgan and get this card this

used to be called the palladium card

and the reason for that is like it's

loud and it's

heavy and it's metal and it's really

cool like

let's just do a quick little comparison

here this is my apple card which since i

just used the apple card for apple

paying

i don't actually um what's it called uh

keep it in my wallet but anyway this is

the apple card so let's just do a sound

comparison here okay

apple card it's not bad

this one so you get a little bit of a

comparison they each have

their interesting tunes but anyway

here's what happened

i said that we would use this particular

car

as my campaign card and we would

segregate this

just for the campaign so we could

properly track expenses

the beautiful thing about this is that

this card has what's known as an

invisible credit line

you cannot find this on my credit

profile

which is really good because if i spend

a lot of money and

then the balance shows up my credit

score doesn't tank because it's

invisible

whereas if i use any other card it shows

up on stuff like well

my credit karma so unfortunately

my amazon card where we also bought a

lot of the stuff

for the campaign and we get five percent

off using the amazon card

was linked to a different card and so

take a look at this when we jump over

here

we go back to credit karma and when we

expand this

we will see jpmorgan chase card which is

an amazon card balance increased by 35

000 which is more than i've ever

spent uh on or or had show up as a

recorded balance like i never pay any

interest i always pay it off obviously

but uh it's more than i ever had and

knowing how the credit algorithms work

recency is extremely important and a

recent never-before-seen balance

increase of 36 thousand dollars

instantly said my credit score

plummeting 114 points

now before i show you what happened with

changes i want to mention

that because of what happened here i

decided to get another credit card that

i could try to use exclusively for the

campaign

to try to milk back as much money as

possible

in cash back my apple card gives me two

percent back when i

apple pay my amazon card gives me five

percent back when i use it

just on amazon but this jpm card only

gives me

one and a half percent back and what

happens when i buy

twenty thousand dollars worth of hats or

t-shirts or flyers or whatever

it'd probably be really good to be able

to put that charge

onto another card that's going to be

able to give me a higher

return on my money and folks there is a

card that does just that it is the block

fi

credit card the block fight credit card

i'm going to show you the introductory

email here

the block fi credit card check this out

the block fi rewards

visa signature card has no annual fees

and no foreign transaction fees

you can earn three and a half percent

back on all purchases for your first

three months then you go to one and a

half percent forever

but check this out for our cases

if you spend over 50k in an in in one

year

we'll actually earn two percent back in

bitcoin

forever so if we can apple pay hey great

the apple card's gonna give us two

percent

if we use the jpm we get one point

five percent unless of course we

redeemed that for travel which lately

has been a little harder to use this

card to redeem

for travel then instead

we're going to be using the block fi

rewards

visa card to get two percent back in

bitcoin and if you want to sign up for

this as well

you can go to metkevin.com cc

medkevin.com

cc like credit card uh and keep in mind

you will earn

three and a half percent back on all

purchases in your first three months

there is a limit to that it limits you

to earning an extra hundred bucks

on your first thousand eight hundred and

fifty seven dollars

and then it goes to that one point five

percent unless of course you're spending

over 50k in a year

but it's pretty cool because every time

instead of getting reward points that

you don't end up using like i end up

doing

with the travel cards you just end up

getting crypto back

which is kind of a cool integration but

anyway i applied for this card

got this card super exciting waiting for

this to arrive

now let's go back to see what happened

with my score

so take a peek at this let's go ahead

and scroll up here

and take a look at this change right

here after i paid off that card you'll

see that right here balance decrease 36

700 check it out credit score instantly

went back

to where it was 128. so i spent about a

month

basically not being able to rent to

myself which is kind of funny

uh but anyway yeah you could definitely

see that uh that trough there you know

that almost looks like the inflation

chart they show us

it's pretty funny uh but yeah just for

giggles you can see here payment history

100

card utilization is currently zero that

was a lot higher when it was at 37

of course average age of credit

histories it actually doesn't it should

be a lot older than that but

is what it is i uh i had my oldest

account was a wells fargo card that i

just

never used it was like 11 something

years old

and uh i ended up uh ended up closing

that card which maybe i should have just

left it open for the average age

but honestly i don't think it matters

too terribly much so i got a bunch of

cards here we got real estate loans

there are more real estate loans

lauren's got cards and stuff so anyway

this is a complicated stuff a lot of

bills to pay basically it's kind of a

headache but anyway it thinks our credit

still looks relatively new but

who cares i don't as long as above 740

i'm good with that anywho

so uh go check out that blockfy rewards

card by going to medkevin.com

cc or meet kevin.com cc doesn't matter

or click the link down below and folks

we'll see in the next video thanks so

much for watching and we'll see you next

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