10 Facts Antoine Sallis Teaches Us On Ted Talk

Have you ever wondered why our schools don’t teach us about basic financial management skills? Or why we learn things about credit from experience rather than relying on our knowledge? Antoine Sallis believes that the reality is that most of us have no clue about credit and how to leverage it. Which is strange because it is an important aspect that has the potential to contribute towards our financial freedom. In a recent TED Talk, Antoine Sallis, the founder of Pacc 10 Enterprise & Rapid Credit Boosters refers to this debacle as The Great American Credit Secret. He elaborated on several issues, eventually giving tips on how people can better improve their credit profile.

Here are ten pointers you can expect from his presentation:

1. They do not teach credit in schools, and this has been going on for decades. Less information about it means less power to the people, which is good for banking institutions who utilize such weaknesses to their favor.

2. Antoine Sallis reiterates that student loans have an impact on your credit profile early in the game. However, he warns that individuals must set up a plan that will not distort the outlook of their credit status.

3. Lots of employers are currently checking your credit profile before hiring you. This is the harsh reality that many young people are unaware of.

4. Piggy backing occurs when someone adds you to their credit card as an authorized user. This automatically boosts your score as you automatically possess their credit reputation. However, the credit card needs to have low utilization, a high limit, no missed or late payments, long transaction history of more than one year.

5. There is a difference between a high credit score and a strong credit profile. Antoine Sallis insists that you can have the former but still lack the power to acquire loan approvals and credit cards. It is all about balancing the two aspects.

6. In order to build a strong credit profile, you need to have a mixture of different accounts, all with long transaction histories.

7. There are many ways of leveraging your credit score. One way is by building equity on an asset you own. For example, Antoine purchased an Airbnb apartment in a foreign country that is gradually increasing in value. This way, he can refinance to a shorter loan term or probably sell the property at a higher price in the future.

8. It is important to know that when you are applying for a loan or credit card, they look at what is in your credit profile as far as paid accounts, but most car dealerships or apartments, or even homes, will only look at the actual score itself.

9. Banks do not want you to learn about credit because if your score is lower then they will be able to charge a higher interest.

10. The great American credit secret is knowing how credit is going to affect your life. If we chase credit like we chase that job, career, or education, our lives will completely change.

Check out Antoine Sallis on TED Talk at the link below:

https://www.ted.com/talks/antoine_sallis_the_great_american_secret