– All right, everybody, listen. With tax season coming up,
you’re gonna wanna listen closely to my next guest because, if
you’re one of the millions of people out there drowning in debt, this guy right here can
change your life today. Okay, period, flat-out,
please welcome the founder of Ashton Henry Financial, Ashton Henry. (audience clapping and cheering) How you doing? – I’m good, Steve, how you doing? Well, let’s talk about
your story, man, because I was interested in it
because, not long ago, you were broke, now he’s rich, (woman cheers)
and so that gets people’s attention–
(audience chuckling) How did you turn everything around? – I came here in 2004 on a
soccer scholarship from Grenada, no one really educated me
about credit when I got here, so I remember, in college,
I actually, I got introduced to credit by getting a
credit card from a bank, I used that credit card the same day because I thought it was free money. Eventually, I got introduced to someone who actually educated
me more about credit. Once I got that understood,
I actually started helping my own clients in my tax business, and eventually launch
Ashton Henry Financial to help people in Florida and nationwide. We’ve been able to help
thousands of people increase their credit and put their life back on track with their finances. (audience clapping)
– Okay, now, why is credit so important? – A lot of people don’t realize
the importance of credit. You wanna get a credit
card, you wanna get a house, you wanna get a mortgage,
everything revolves around credit. If you have a poor credit score, you actually are going to be
paying more for everything that you’re actually purchasing, right? So many people don’t even get a job because of a poor credit score because 70% of employers
started actually pulling their credit before they even
get a chance to get employed. Right, so credit is a
big deal, and right now, over 63,000,000 people are suffering in the United States because
of a poor credit score. – Okay, let me ask you this. Is a credit score only based
on not paying your bills? – Absolutely not, there’s
a lot of different factors that go into determining how your credit is actually calculated. So 10% of your credit is actually
based on types of credit. You have two types of credit,
you have revolving credit and you have installment credit. Revolving credit would be any credit cards that you can pay off,
installment would be accounts that you have fixed
payments, example, a mortgage or a car loan, and the next
10% is based on new credit. So you wanna be mindful of how many times you apply for new credit
within a 30-day billing cycle, but also establishing new
lines of credit can help you increase your credit score
once you get approved. 15% is based on the length
of the credit history. How long have you had that
specific account open, whether it be five years, 10 years, you wanna make sure that
account is in good standing. 30% is based on the amounts
owed, and that’s basically your credit limit versus
your credit balance. Whatever limit you have, you
only wanna use 30% or lower. Any time you go over that,
your credit score’s gonna drop. So on a $1,000 credit card, that’s $300. And then 35% off your credit score is actually based on your payment history. Have you ever paid a bill late? One late payment score can drop your credit score 50-100 points. – All right, now, you say
that you have five ways that your company can help turn around almost anybody’s credit, how? – So number one, you want to make sure that you pay your bills on time. And again, so many people aren’t
paying their bills on time, and that affects their credit score. Two, keep your balances under 30%. Three, you want to have a mix of credit, so you want revolving credit
and you want installment, which jumps into four,
use major credit cards. Visa, Master, Discover, and Am-Ex cards, and five, don’t run your credit often. So many people, once their
credit score goes up, they start running their credit often, and any time you go over seven inquiries on your credit report, your
credit score’s gonna drop because now, to the credit
bureau and to the creditors– – It’s seven inquiries
in a period of how long? – Within a 30-day period.
– All right, well, let’s put your system to the test. – Okay.
– I’m gonna introduce you to this guy we met on this
show, his name is Trey. I met him on the show last year. Now, while trying to win a date with this beautiful woman,
he shared just a little bit too much information
about himself, take a look at the tape, let me show it to you. – So Trey, if you could do one thing over in life, what would it be? – All right, so honestly,
the one thing that I made a mistake on in my life
was applying for credit cards. (audience laughing)
So I do one thing over again, it’ll be credit cards. – I know not to leave my
purse around him! (laughs) (audience cheering)
– All right. (audience clapping)
– So over the course of time, I kind of felt like I owed him some help. So Trey is here–
(audience cheering) Trey, how you doing?
– I’m doing great. – Ashton, you’ve got something planned that’s gonna help Trey out, what is it? – Absolutely, so I had a chance
to look at Trey’s report, and what we found was Trey
actually has a lot of– As you can see, he has a lot of debt here with his credit cards,
so off his credit limit, which is $4,800, he’s used up $4,070. And he actually has
only credit cards open, he doesn’t have a mix of
credit, no installment– – Just revolving.
– Just revolving credit. He also has a ton of late payments on his credit report, and late payment is what’s really affecting
his credit score. So what we’re actually gonna do is actually pull his credit and dispute all the negative items
that’s on his credit report, as far as late payments, he
has a couple closed accounts in there as well, that’s hurting him. – What happens when you dispute it? – So based on the Fair
Credit Reporting Act, which was passed by Congress, you’ll be able to dispute
any negative items. Credit bureaus, they’re just reporting whatever the creditor sends to them. They never verify anything
that’s actually being reported. So we can actually go in
there, send those letters to dispute them to get them off, or to have it be updated
to reflect paid as agreed so it can stay on there as a
positive on his credit report. – If you dispute it and the credit card company doesn’t respond, you win. – Absolutely.
(audience clapping) – Okay, how can you see
yourself helping Trey today? – Well, just to give Trey a fresh start and to, you know, put him
in a better situation, we’re going to basically help him pay the Chase account of $2,600. (audience clapping)
– You gon’ pay his bill? – Absolutely.
(audience clapping) – Thank you.
(laughing) – Hey, Trey, this is what Imma do, man. Imma bring you back in
about a month or two, along with Ashton, and
we’re gon’ take a look at how your report has
improved, so we’re gonna help you out, man, thank
you for joining us, thank you for sharing–
(audience clapping) And thank you, man, great job, great job. Listen to me, if you’re one
of the 63,000,000 people out there who’ve had bad
credit, make sure you sign up for Ashton Henry’s
membership program today. Ashton Henry’s membership program, it’s affordable, and it
will help put you back on the right track to good credit. All you’ve gotta head over
to Ashtonhenryfinancial.com to get started, we’ll
be right back, folks. (audience cheering)
(upbeat electronic music)