Gamification countermeasures are possible for college students to win at the credit card credit score game.<\/p>\n
By Larry Chiang (EIR at Stanford University)<\/p>\n
I’m speaking at a credit industry conference about gamification. It’s a conference about getting all y’all to think you’re in a game.<\/p>\n
Yes, I’m a double agent.<\/p>\n
You see I infiltrated an entire industry because banks were effing us over. Shifting due dates, exploding interest rates and shady interest rate calculation methods were just the start. Well, I passed the Credit Card CARD ACT, and WE WILL have the last laugh when I pass the “Larry Chiang Electronic Credit Score Protection Act”.<\/p>\n
Anyhowz… Here are tips to countermeasure getting ‘gamified’<\/p>\n
-1- First rule is to realize you’re in a game.<\/p>\n
Sandy Lerner taught this to me. She founded Cisco, was funded by the venture capital firm Sequoia and was pre-maturely fired from her own company. See “Something Ventured”.<\/p>\n
We as college students need to realize we are in a money-based game where the interest rate rules and the credit institutions are very much against us.<\/p>\n
-2- Know the rules.<\/p>\n
You’re playing in a game with rules set in the 1970’s. FCRA \/ FCBA are paper based. I’ll help you with the details later but just know as college students none of the credit rules make any common sense.<\/p>\n
For example, disputing a credit mistake can only be done via a mailed USPS letter. Zero rights are retained if you call or email Re: FCRA – FCBA. This leads right into my next point…<\/p>\n
-3- Urban Credit Myths Cloud Real Rules<\/p>\n
Biggest myth running is that running your credit report hurts your credit. It’s just not true. There are three types of inquires. I blogged before about this here: https:\/\/www.duck9.com\/credit-secrets\/does-applying-for-loans-and-credit-drive-down-your-fico-credit-score\/<\/a><\/p>\n -4- Stop Trying to Collect Points<\/p>\n Airline points are the carrot that is advertised.<\/p>\n The stick is not pretty. The carrot of “free airline travel” is a mirage urban legend told by college students that brag. Most of these rules loopholes have been closed. When you hear of these legendary scheme scams, ask WHO SPECIFICALLY. If it’s a real hack and legal, email me and I’ll publish you at CNN, Yahoo or Bloomberg BusinessWeek. I write there and a lot of other places<\/p>\n -5- Points De Mystified<\/p>\n As a rule of thumb, an airline point is a penny. 30,000 mile\/ points gets you a $300 airline ticket.<\/p>\n Charging $30,000 gets you a $300 ticket. But the bank paying you 1c per dollar only gets paid 0.45c (it’s the interchange. They make more if they’re The issuing bank and processor)<\/p>\n The issuing bank who gave you the miles loses money if you pay the balance off. Banks are shitty in their terms and conditions. Err shifty.<\/p>\n If you only charge $3,000\/ year. Don’t game the airline points game. Instead play a way more important game only CS majors know about…<\/p>\n -6- CS Majors at Stanford University Hack Their FICO Score and You Should Too<\/p>\n Hacking is defined here as gaming the system legally. I game systems by understanding rules, laws, legislation and soon-to-be-published rules.<\/p>\n For example, I argued before the local paper in NY that engineers should get the knowledge of business school BEFORE b-school. It’s here “What They Will NEVER Teach You at Stanford Business School” via @youtube<\/p>\n To get back to my point on the GAME YOU SHOULD BE PLAYING: get 24 1’s in a row. = FICO score 750.<\/p>\n <\/p>\n -7- As seen at: TED Conference, SXSW, NCAA<\/p>\n I love 11:11 and major orgs help me promote this simple irrefutable TRUTH: 24 1’s (1’s are on-time payments) accelerates us college students to a FICO over 700<\/p>\n NCAA https:\/\/ncaa-final-four-afterparty-larry-chiang.eventbrite.com\/<\/a><\/p>\n TED: https:\/\/2012-ted-afterparty.eventbrite.com\/?nomo=1<\/a><\/p>\n SXSW https:\/\/11-11-afterparty-sxsw.eventbrite.com\/?nomo=1<\/a><\/p>\n Mercedes Benz Fashion Week in NYC<\/p>\n Oscars<\/p>\n #### DISCLOSURE #### as a male heterosexual supermodel I hook up at events like the Oscars afterparty:<\/p>\n Or fundraiser for MBFW:<\/p>\n Duck9 financially benefits when you get a great FICO SCORE and maybe get a car loan from the ‘Larry Chiang Duck9 Car Loan Company and Fund. But we are just happy to make your day.<\/p>\n ########################<\/p>\n https:\/\/www.duck9.com\/uncategorized\/what-they-dont-teach-you-at-stanford-business-school-they-now-do-teach-in-the-engineering-school\/<\/a><\/p>\n CEO of Duck9 Stanford University EIR (Entrepreneur in Residence)<\/p>\n Duck9 = Deep Underground Credit Knowledge 9 125 University Avenue\/ 100 Palo Alto CA 94301 https:\/\/www.duck9.com\/ass<\/a> 650-566-9600 650-566-9696 (direct) 650-283-8008 (cell)<\/p>\n **************** Editor of the BusinessWeek Channel “What They Don’t Teach at Business School” https:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog<\/a> CNN Video Channel: https:\/\/ireport.cnn.com\/people\/larrychiang<\/a><\/p>\n Read my last 10 tweets at https:\/\/www.Twitter.com\/LarryChiang<\/a><\/p>\n Author, NY Times Bestseller https:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog\/?s=Ny+times+bestseller<\/a><\/p>\n “What They Will NEVER Teach You at Stanford Business School” comes out 11-11-12<\/p>\n