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Second Look

July 22, 2012

It’s The “10 Cred Commandments”

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Written by: ebony_smoothe
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What is credit and why do I need it?

In order to create wealth you MUST have credit, and good credit at that. Many of us have never been taught the importance of credit and how valuable a resource it is. Credit is everything; it’s the corporate version of street cred. Without it you are nobody!

I own two successful businesses with sales over 10 million dollars. If you are serious about creating wealth please read my “10 Cred Commandments”

1. Pay your bills on time…ON TIME.
2. Do not let your credit amount go over 30% of your credit limit i.e. if your credit limit is $10,000
keep balance under $3000.
3. Create an account with major credit card agency and monitor your score at least twice a year.
4. Never borrow more than the limit.
5. Never cancel a credit card as that lowers your credit to debt service ratio. (If you’ve paid the
card off and don’t want to use it anymore just cut it up, but do not cancel the card)
6. Transfer your balance to a card with a lower interest rate.
7. Negotiate your interest rate with the credit card company.
8. Take pride in your credit-this is one of the tools that can make you a millionaire.
9. Get the right card-obtain a card that fits your needs and offers the features that you want
10. Don’t forget rule number 1

If your credit is not in good order do something about it. NOW!!
Do not wait until you want to apply for a car loan or buy a house because at that point it’s too late.
Credit is like car insurance you must have it in place well before you need it!!!

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Being Black & smoothe has it's benefits...



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  1. ebony_smoothe

    good read!!
    very informative!!

  2. nubian

    my credit is jacked..
    Wish i read this a long time ago :(

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