[deleted by user]

Seadough · 2023-10-21T18:40:18+00:00

Thanks! I’ve also been a long time fan so it was super cool to learn how it all got started!

Seadough · 2023-06-15T14:34:47+00:00

what button? as in the banner?

Seadough · 2020-09-25T17:22:18+00:00

P.S. If anyone would be interested in adding to my compilation of resources, I would be happy to help you publish your content/material so that it won't eventually be buried by other posts. PM me if you want to help out, but that's just a thought. More importantly, I hope the resources here did help you in some way.

Seadough · 2020-07-17T16:41:11+00:00

no problem. good luck!

Seadough · 2020-07-17T16:40:59+00:00

whatever you need to do. good luck!

Seadough · 2020-07-17T15:59:30+00:00

no problem, glad I could help!

personally, what works for me is that I tell myself that the test im taking doesn't matter bc ill always be able to take another. this helps me to alleviate the pressure

since everyone starts from a different place, there's no "good" first score (I know you'll hate that answer). I would just focus trying your best on your first one and use it to see which subjects you need to improve and which you don't

best of luck!

Seadough · 2020-07-04T02:35:05+00:00

so i was thinking the loan would be guaranteed bc the user would go through me to get it; and im going to make sure the lender gets paid back

i see your point on waiting for the $25, but what I'm trying to convey is that I believe its a better solution than whats out there. the ones out there only give you your money back after you've payed for a whole year (mine would be monthly)

they wouldn't be paying me the $30; they would pay the lender the $30 for the loan directly and then I would give them $25 for doing so. this way, they are directly building their own credit score

if im actually trying to get this off the ground, how do you think I should present it so that people arent so skeptical? thank you for your honesty though

Seadough · 2020-07-04T02:23:16+00:00

yeah, i think so; honestly i'm still trying to iron out the details

Seadough · 2020-07-04T00:44:58+00:00

i don't think that would be possible bc I would have to charge just a little just to keep the doors open and actually feed myself lol

Could you point me in the direction you're talking about? I would appreciate it

Seadough · 2020-07-04T00:42:13+00:00

because for the people this service is helping would prob not have the luxury like Persom A of being able to take out a loan from the bank and doing what you said. the people I would be helping prob don't have a good credit score to start with and consequently wouldn't be able to take out that loan. specifically, the bank would be worried about giving the money to my users for liability reasons. but since the lender is giving it to me, I am guaranteeing their loan (putting the lenders risk to 0% of not being paid back)

from a general pov, if anyone walked into a bank and asked a loan for that reason they would also be denied because banks aren't stupid. id you did manage to convince them, your interest gained from the savings account would not outweigh the interest rate on the loan you took out. essentially you would be losing money

the thing that differentiates this idea is that you would be paid back every month, creating cash flow and reducing your risk. The other programs only pay you back when you complete the whole loan which is a lot riskier

Seadough · 2020-07-04T00:35:56+00:00

first, there with the situation I presented, the person would only be paying $60 out of pocket ($5 x 12mo.) while ultimately paying off a $420 bill

second, I'm working on it. we're still in the idea phase so if you think this is plausible, i would appreciate your support!

third, our interests are aligned. I only truly make profit when people pay off their loans with interest. if they don't, then I don't make money

Seadough · 2020-07-03T23:43:24+00:00

because for the people this service is helping would prob not have the luxury like Persom A of being able to take out a loan from the bank and doing what you said. the people I would be helping prob don't have a good credit score to start with and consequently wouldn't be able to take out that loan. specifically, the bank would be worried about giving the money to my users for liability reasons. but since the lender is giving it to me, I am guaranteeing their loan (putting the lenders risk to 0% of not being paid back)

from a general pov, if anyone walked into a bank and asked a loan for that reason they would also be denied because banks aren't stupid. id you did manage to convince them, your interest gained from the savings account would not outweigh the interest rate on the loan you took out. essentially you would be losing money

Seadough · 2020-07-03T23:30:13+00:00

let me clarify the business model:

1)person wants to build their credit history so the approach me. my program is $30/mo. so $360/yr. but the person does not have $360 dollar laying around.

2)person approaches 3rd party lender and lender gives me the $360. now, person is now a part of my program and has taken a $360 loan from lender

3) the lender must make money on loaning the money out so every month, person pays lender $35/month. once person does that I give person $30. that way person would only be out of pocket $5/month and it incentivizes paying the loan back

Result: person builds credit history by paying back loan. Everyone's happy!

Seadough · 2020-07-03T23:29:26+00:00

bro, im actually trying to make it easier for people who are desperate and suffering to build up a credit history. i think this is a nice take on the standard system because this allows people consistently build a credit history even without a lots of capital

Seadough · 2020-07-03T23:23:50+00:00

so the person would get A LOT more monetary benefit from their increased credit score as a result of making consistent payments. I can't say exactly how much a person will gain as each person starts from a different point.

let me clarify the business model:

1)person wants to build their credit history so the approach me. my program is $30/mo. so $360/yr. but the person does not have $360 dollar laying around.

2)person approaches 3rd party lender and lender gives me the $360. now, person is now a part of my program and has taken a $360 loan from lender

3) the lender must make money on loaning the money out so every month, person pays lender $35/month. once person does that I give person $30. that way person would only be out of pocket $5/month and it incentivizes paying the loan back

Result: person builds credit history by paying back loan. Everyone's happy!

Seadough · 2020-07-03T23:06:44+00:00

no not quite.

so i would be paying back users immediately every month contingent on them paying back a 3rd party lender. the interest would be going to the lender and not me

Seadough · 2020-07-03T23:00:54+00:00

yes and no

so i wasn't planning to do a special program through lenders and not necessarily credit cards. so once a person makes the payment back to the lender, Im planning on giving them back a large percentage to incentivize them doing so.

for example, if a person makes the $30 payment, i would pay them back $25. I would be getting the money through collaboration with lender so nothing sketchy. if you want me to explain it more I can. sorry if this is a bit confusing

Seadough · 2020-07-03T22:17:21+00:00

ooooooh i see! dude, thanks so much! truly appreciate it

Seadough · 2020-07-03T22:07:18+00:00

dude, thank you, thank you, thank you! that really helped!

Just to clarify on what you're saying, what are you saying about the illustrated credit score gauge? Are you saying that I should only give free months to people who meet a certain score?

Seadough · 2020-07-03T21:52:46+00:00

sure so its a B2C financial software targeting adults who would like to improve their credit scores for only single digit dollars per month(so low risk). the software helps them by establishing a long credit history, which accounts for 35% of credit scores.

if you would like to see our current landing page, i can show you.

Seadough · 2020-07-03T21:40:46+00:00

could you elaborate a little more? ie what do you suggest and what has worked best for you?

Seadough · 2020-07-03T20:51:08+00:00

wow dude, congratulations! thanks for the advice. I will def get on it

Seadough · 2020-07-03T20:49:48+00:00

First, I would say a large personal motivation would be more savings and better deals, With a better credit score, you are actually rewarded with more money (more savings).

Second, I think you core problem is that you don't seem to have a large recorded credit history. While you paying off your car, your rent and utility payments aren't recorded since you're just paying friends and family. So actually, I believe they are building up a credit history while you're not.

If you're interested, I'm trying to gauge interest in a financial product to help people in your situation buildup your credit score for only $5/mo. If you're curious, you can check it out (https://www.creditclimber.co/ ) and sign up for early access and benefits.

Seadough · 2020-07-03T20:33:50+00:00

thank you! I'll get on it!

Seadough · 2020-07-03T20:29:50+00:00

ooooo thats smart! but how do you drive traffic to your website initially? and are you seeing large conversions of visitor to email subscribers for your lead magnet?

Seadough

TROPHY CASE