Less than 10% of people making under $50K a year report identity theft. This week’s guest studied the American credit system, stole the identity of people with low credit scores, rehabilitated their credit then used the credit for himself. Credit Genius, Flame Newton, served his time, apologized for the pain he caused, and flipped his knowledge into teaching people the American credit system to help his community.

 

Key Takeaways:
- 5 Pillars of Credit Management
- Not all Creditors are Weighted Equally
- Being Debt Free Means You’re Not in the Credit Game

0:00 Intro

0:56 Shelly gets to share the Shelly brief about owner of True Kitchen Kevin Kelly yelling at customers who were twerking in his restaurant and different people’s opinions on that

9:25 Flame shares a little background story of his journey of how he used to steal identities and flip people's credit and then use it

17:31 Flame talks about why he always wanted to look different in a convention and how he used his different looks to get closer to people who showed hate or distrust towards him

19:31 Flame explains how he got loopholes to get inside someone’s credit and use it to his own benefit

21:09 Flame talks about his method to max out 550 points in FICO scoring system to get the highest score available and also talk about the difference between the scoring models and why he took bad credit as opposed to taking good credit

24:25 Flame also talks about the Flame five pillars introducing the purdi system; the pay history, utilization, relationship, diversity and inquiries

35:29 Flame talks about another credit algorithm and how fast people can raise their credit scores

36:58 Flame also talks about the three ways that you can use to get approved for credit; automation, manual underwriting and team underwriting

37:47 Flame shares things that must occur in manual underwriting

41:54 Flame also talks about the importance of zooming out and looking at the bigger picture and not focusing on smaller things for you to raise the credit score

Shows Mentioned:

True Kitchen + Cocktails: A dynamic comfort food restaurant at its core created to deliver the best in food, drinks and vibes to Dallas and Texas.

FICO: originally Fair, Isaac and Company, is a data analytics company based in San Jose, California focused on credit scoring services.

Credit Karma: an American multinational personal finance company founded on March 8, 2007 by Kenneth Lin, Ryan Graciano and Nichole Mustard that offers free credit scores,
reports and insights.

https://www.creditchecktotal.com/

https://adoseofdissruption.libsyn.com/2020

Quotes Mentioned:

“The things you take for granted, someone else is praying for.”

“You should always act right.”

“The onus is on the business owner.”

“When there's too many people involved, I can find a loophole.“

“Do what you said you're going to do.”

“Every person that I've ever met that was debt free is broke.”

“There’s no way that you can win the game without being in debt.”

“Any time that the relationship is altered by one person doing way more than the other person, that relationship is going to have a strain.”

“No matter what a mom’s doing, she makes it look easy.”

“Ask or beg.”

“We all hate beggars.”

“Your debt is a part of your wealth.”

“It's not about the credit score; it's about the contents that all the credit profile.”

“The quality of banks differs because the underwriters are different and they understand what it takes to get there.”

“Everybody is so focused on the ball itself that they can't make a play.”

“Look for somebody who's looking for you.”

Guests Social Media Links:

https://www.facebook.com/followflame1127

[email protected]

https://theschoolofcredit.com/about-tsoc/

www.accesstomoney.com

https://www.linkedin.com/in/flame-newton-62b640117/