Common Credit Myths
Unsecured credit card money can be used as you see fit, for example:
- A down payment on real estate
- Funding your new business venture
- Financing new asset acquisitions
- Cash for fix-and-flips and rehabs
- Funding inventory and payroll
- Marketing and advertising
The rules of the game change so frequently that unless you are constantly tracking the market, by the time you’re ready to acquire funding, most of the information you’ve acquired is out of date. One of the advantages to participating with Fund&Grow is that you are always up-to-date on the latest strategies that really work.
Let’s expose a few counter-productive common credit myths…
Myth #1: Inquiries significantly hurt your credit score. False. While inquiries can hurt your credit score, we can show you ways around this.
Myth #2: Balance transfers have to be used to pay down credit cards. False. Done properly, the transfer can be used for any desired purpose.
Myth #3: It’s all done by computer. False. This may be true when you apply for a credit card in the $3,000 – $10,000 range, but when you are asking for $40,000 to $250,000 and up, you need to speak with a human being.
Myth #4: You have to pay a large balance transfer fee. False. We can show you how to pay little or nothing for balance transfers.
Myth #5: After 12-18 months my interest rate will go through the roof. False. We can show you how you can get interest rates that are even better than home equity loans – with no collateral.
Myth #6: You are on your own. False. Our service is a done-for-you service, and we will not be asking you to do the work.