How to Boost Your Credit Borrowing Power

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In this video, Shonda Martin breaks down the concept of borrowing power and how it differs from your credit score. Learn about the factors that lenders consider when assessing your credit profile and discover practical tips to enhance your borrowing potential.

Timestamps:

00:00: Introduction to Borrowing Power

00:20: What is Borrowing Power?

00:42: Credit Score vs. Credit Profile

01:09: Importance of Credit Profile Over Credit Score

01:32: Factors Influencing Credit Approval

02:11: Impact of Late Payments on Credit Profile

02:38: Time Since Last Missed Payment

03:38: Hierarchy of Late Payments by Account Type

04:19: On-Time Payments and Credit Profile Quality

05:22: Achieving 500 On-Time Payments

06:08: Tiers of Borrowing Power

06:28: Strategy to Reach 500 On-Time Payments

07:15: Resilience of a Strong Credit Profile

07:32: Summary and Key Takeaways

Watch the full video to understand how to optimize your credit profile and increase your borrowing power. Don't forget to like, comment, and subscribe!

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