How do you use credit to your advantage? Carl Gould shares how in this episode of #70secondCEO.
Read full transcript:
Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.
I’m also going to look at any lines of credit and I’m going to maximize any line of credit that I have, because if I get into a crisis and I go to apply for credit and I show the bank or the lending institution or the working capital company, what my financial condition is, I may not get approved, so whenever I’m pre-qualified, whenever I’m approved for an amount I want to maximize that amount. I want to use it. So, rather than taking 20 grand cash and paying down something. I’d rather put it on a credit card or a line of credit, right? And then pay that off when it’s due and then I’m building my credit history, I’m building not only my credit score but the bank says, wow! They put a lot of that money in the play, they pay it off. They know what the top strategies are and when they see you using them, they’re doing to be much more agreeable to giving you credit over time.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.