www.Duck9.com |
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How Duck9 works
Who we are
Duck9 is “Digital Underground Credit Knowledge 9”. Duck9 sends out SMS reminders for college students to pay their bills on time. 12 to 24 on-time payments is a FICO score of 750 or higher. Our goal is to graduate YOU the college student with a FICO score above 750.
Duck9 helps people avoid '9's.
9's are charge-off on your credit report. 1's are on-time payments. 24 out of 24 payments made on-time in your name yields a FICO score over 800.
What can you do with a FICO of 800? A lot.
The best deals on car loans, mortgage and even insurance go to people with a good credit score. The first thing an insurance underwriter does in determining what you pay is run your credit report. Checking your driving record is secondary. Credit reports are also run by employers.
Want to live with your parents after college??
A great way to ensure that is to have bad credit. A FICO of 800 on the other hand qualifies you for a mortgage of $200,000 for less than $1000 per month. $200k of buying power gets you a 3-4 bedroom house. Rent out two of the rooms for $600 and you're doing ok.
Duck9 also does peer to peer lending. Peer lending helps whittle down debt.
Peer-to-peer banking was born when this vulture capitalist heard about UCMS portfolio of “college credit card debt". In his greed, he wondered if HE could lend the money directly-to-the-consumer. His self interest was served because his money only earned 2-9%. The consumer would win too because they were paying over 18%. He tried to cherry pick through our list of candidates.
Peer to peer lending is one answer but the real problem is young people in debt. There's a way to stay debt free by helping college students manipulate their FICO scores.
More about lending | More about borrowing | Jobs at Duck9
The big idea: peer-to-peer money
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