How I’m reinventing my financial future
Next month we’re launching DisputeDoc, the first automated platform for fixing credit.
I took this job after 12 years in Advertising in NYC. After being successful in my career, I didn’t have much to show for it.
I needed to work for more than a salary (tip: equity) and I needed to learn about finances. Fast.
Here are some of the credit tips my founder, Ronnie Cropper (pictured below), has shared with me so far. From a man who has moved millions, I was ready to listen.

1. Keep low balances
A major contributing factor for your credit score is how much credit you have versus what you have used. The lower the utilization, the better it is for your credit rating. Aim for 20 percent or lower.
That means no more shoe splurges or fancy restaurants unless you can pay it off.
What you might not know: Even if you pay balances in full every month, you still could have a higher utilization ratio than you’d expect. That’s because some issuers use the balance on your statement as the one reported to the bureau. Even if you’re paying balances in full every month, your credit score will still weigh your monthly balances.
My advice? See if the credit card issuer will provide you with your statement date; once that is supplied make sure you pay the balance in full before or on that date.
2. Do not remove old debt
Because we are led to believe all debt is bad, when we see old debt on our credit report we assume it’s bad too.
That means once you have paid off that car or home, most people will try to remove it from their credit report.
But it’s important to know the difference between good debt and bad debt. Good debt — debt that you’ve handled well and paid as agreed — helps build good credit history.
If you have a solid repayment record, don’t close old accounts. It shows you are potentially a good future candidate for loans.
3. Bills, Bills, Bills
Sometimes life gets in the way or it’s easier to ignore the bills, but good credit relies on timely payments.
We all know this… but what we don’t know is that there are ways out. We just don’t want to face it until it is too late.
I suggest the moment you know you are late on something, contact the creditors. There are many solutions that can be offered to consumers to prevent late payments if you communicate.
Communication is key.
And the journey continues…
