Exposing Credit Card Hacks & Business Credit | Irv Pena

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Everyone needs credit! Irvin Pena is founder of The Insight Inner Circle and sits down with Ryan Pineda to talk about the ins and outs of credit and how it works. He started out running a tax office with his brother. Clients started asking about stimulus checks, so he decided to make a video about it. Overnight, he had 5,000 views! He made more, used TikTok, then YouTube and it started taking off. He went to a credit claiming company, then reverse engineered it to help people.

Things started really hitting off in 2021 working with startups and preexisting businesses. Right now, the credit market is tightening up with the recession. As we transition into this new market, this is the hardest part. Once things steady out, you’ll be able to go forward more easily. But remember the three pillars: cash flow, credit, and collateral. Credit will be easier as you go; it’s all about getting started.

First things first: clean up your personal credit. Make it feasible for banks to want to do business with you. Look at all of your information. Print your 3 credit bureau reports, and make sure all of your information matches. Check secondary bureaus (CoreLogic), suppress information there. Then start sending out dispute letters. Use FCRA to help clean up your credit. They’ll remove inquiries, charge offs, etc. It will improve your scores. Lastly, when you remove a negative, add a positive. Become an authorized user on an already established account with someone.

Remember:

Debt is debt. All loans are a form of debt you need to pay back.
Raising capital is raising capital. Credit cards can be good, just be smart with them.