00:00Let me ask you something real quick. You check your credit score. And you're like.
00:07Why is this number not moving? You pay on time. You try to be responsible.
00:14But still, nothing. Here's the truth nobody tells you. Your credit score is not the problem.
00:22Your credit report is. And today, I'm breaking it all down.
00:27No fancy words, no bank talk. Just real-life credit game.
00:33When I first learned about credit in America, I thought credit score was everything.
00:39Like, if I just get a 700. Life would be smooth. But I was dead wrong.
00:47My score wasn't growing. Even though I was doing everything right.
00:51Then I finally checked my credit report. And bro. It was messy. Old accounts. Wrong late payments.
01:03Stuff I didn't even recognize. That's when it hit me.
01:08Credit report runs the show. Let's keep it simple.
01:12Your credit report is your financial. Background check.
01:18It's a detailed history of how you handle borrowed money. Not vibes. Not intentions.
01:26Just straight-up facts. Every time you, open a credit card. Take a loan. Miss a payment.
01:34Pay on time. It all gets recorded. Think of it like a permanent record. And yeah. It follows you.
01:46In the US, three companies control your credit story. Experian. Equifax. TransUnion.
01:54They're called credit bureaus. They don't lend money. They just collect data. Banks, landlords,
02:04car dealers. They all check your report before trusting you. If your report looks risky?
02:11They're out. What's inside your credit report? Now let's open the file.
02:18Small Blue Diamond Personal Info. Your name, address, social security number.
02:24This part doesn't affect your score. But mistakes here can cause serious problems.
02:31Small Blue Diamond Credit Accounts. Every credit card. Every loan. Every limit. Every balance.
02:42Open or closed. It's all there. Small Blue Diamond Payment History.
02:48This is the big one. Late Payments. Missed Payments.
02:54Charge-Offs. One late payment can hurt your score for seven years.
03:00Small Blue Diamond Collections. Medical Bills. Utility Bills. Old Debts.
03:09Collections are straight-up toxic for your credit. Small Blue Diamond Credit Inquiries.
03:15Hard inquiries happen when you apply for credit.
03:18Too many? Too many? Lenders get nervous. Errors are common.
03:25Here's the wild part. Most people's credit reports have errors.
03:30Wrong balances. Wrong late payments. Accounts that don't belong to them.
03:36And guess what? Credit bureaus don't fix it automatically.
03:42If you don't dispute it. It stays.
03:46Credit Report vs. Credit Score
03:48Let's clear the confusion once and for all.
03:53Credit Report equals the full story.
03:55Credit Score equals the summary.
03:57If the story is bad.
04:01The score reflects that.
04:03You don't fix credit by chasing numbers.
04:06You fix credit by cleaning the report.
04:10United States Why Credit Report Matters in America.
04:14In the US, credit isn't optional.
04:17Your report decides, loan approval.
04:20Interest rates.
04:22Apartment rentals.
04:24Car financing.
04:25Insurance prices.
04:28Sometimes jobs.
04:30Bad credit equals higher costs.
04:33Good credit equals leverage.
04:36White heavy checkmark Can you check it for free?
04:39Here's the good news.
04:41You can check your credit report 100% free.
04:45Once every year from each bureau.
04:48No credit card.
04:50No catch.
04:52Yet most people never do.
04:53If you don't know what's in your credit report.
04:57You're playing the money game blind.
05:00Subscribe if you want control over your money.
05:04Because in America.
05:06Credit isn't just a number.
05:09It's power.
05:09Because you'll need to know what's in your credit report.
05:12Bye.
05:13Bye.
05:13Bye.
05:14Bye.
05:32Bye.
05:36Bye.
05:36Bye.
05:37Bye.
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