The Sales Life Jr with Marsh Buice: Recent Episodes
Marsh Buice
Advice I wish I would’ve gotten when I was younger, but didn’t. TSL Jr. are messages for junior adults, making senior decisions for senior results.
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Now that you’re building your credit profile let’s break down the difference & need in having both installment & revolving credit lines.
You need both a credit score & credit history. Your credit score determines IF the lender will loan to you & credit history determines how much.
A friend or a loved one may ask you to co-sign for a loan. A co-signer is needed when the one applying for the loan can’t get approved on their own. Based on a scoring model, the bank doesn’t think they can pay the loan back and when they don’t, they need someone else to go after. That person is you! Don’t co-sign because you bear all of the risk and none of the reward.
Who’s lucky to you? The one who has the million dollar homes & businesses? The one who has nice things & travel on a private jet? How? Is it luck? Yes...but they put the “Y” in luck. Luck isn’t found m, it’s created.
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