{"id":6581,"date":"2015-12-09T13:27:05","date_gmt":"2015-12-09T17:27:05","guid":{"rendered":"https:\/\/www.duck9.com\/?p=6581"},"modified":"2015-12-09T14:28:16","modified_gmt":"2015-12-09T18:28:16","slug":"hunter-peress-asked-you-to-answer-a-question","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/hunter-peress-asked-you-to-answer-a-question\/","title":{"rendered":"Hunter Peress Asks a Popular Credit Question"},"content":{"rendered":"<p><strong>Larry Chiang encourages CS majors to hack the FICO score, credit scoring system and game. Why should you trust a New York Times best selling author that doubles as a supermodel at New York Fashion Week?! See the <a href=\"https:\/\/twitter.com\/hashtag\/csmajorCRO?src=hash\" target=\"_blank\">#CSmajorCRO<\/a> effort of 63,000 tweets. See the e-f-f-o-r-t of<a href=\"https:\/\/gigaom.com\/2008\/01\/17\/9-things-stanford-b-school-wont-teach-you\/\" target=\"_blank\"> months-and-months<\/a> of CS major promotion work: <a href=\"https:\/\/www.amazon.com\/What-Teach-Stanford-Business-School\/dp\/0615301487\/\" target=\"_blank\">What They Don&#8217;t Teach You At Stanford Business School<\/a> launched 09-09-09. Its a hit sequel to, \u201c<a href=\"https:\/\/www.amazon.com\/What-Teach-Harvard-Business-School\/dp\/0553345834\" target=\"_blank\">What They Don\u2019t Teach You at Harvard Business School<\/a>&#8220;.<\/p>\n<p>Stanford Engineering heard a 3 minute keynote and brought Chiang in as EIR to teach, &#8220;<a href=\"https:\/\/twitter.com\/hashtag\/ENGR145?src=hash\" target=\"_blank\">#ENGR145&#8243;<\/a>. Start up your CS major &#8220;Chief Revenue Officer&#8221; skills inside any Computer Science department by first hacking your credit score without having to pay any interest to a bank.<br \/>\n<\/strong><\/p>\n<table style=\"height: 155px;\" width=\"156\" cellpadding=\"10\" align=\"left\">\n<tbody>\n<tr>\n<td width=\"100\"><span class=\"embed-youtube\"><iframe loading=\"lazy\" class=\"youtube-player\" src=\"https:\/\/www.youtube.com\/embed\/QXIaNZi3mHQ?version=3&amp;rel=1&amp;fs=1&amp;showsearch=0&amp;showinfo=1&amp;iv_load_policy=1&amp;wmode=transparent\" width=\"260\" height=\"183\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/span><br \/>\nNew York Fashion Week will be Sept 9-19, 2016.<br \/>\n&#8212; Larry Chiang<br \/>\nCEO, Duck9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>By Larry Chiang<\/p>\n<div dir=\"ltr\">\n<div><b>Question<\/b> from <b>Hunter Peress<\/b>: If I have $800 out on my credit card, but I pay the monthly $25 payment, do I lose money to the bank?<\/p>\n<\/div>\n<p><b>Answer <\/b>from<b> Larry Chiang:<\/p>\n<p><\/b>Credit card rules are weird and from an older era. They are archaic by design<b>. I preach from the TOS and FCRA (terms of service and Fair Credit Reporting Act). <\/b>Focus on<b><br \/>\n<\/b><\/p>\n<ul>\n<li>Leveraging the &#8220;Grace period&#8221;.<br \/>\nYou want to have grace periods work for you. In order make the 25 day grace period work for you, you need to pay 100% of every statement balance. Read below for how a Grace Period does not work.<\/li>\n<li>Manage your credit card like a debit card.<br \/>\nWhat I mean is that you should pay the full balance; weekly.<br \/>\nOne of the best lifehacks I preach and execute is: &#8220;I, Larry Chiang, turn my credit card into a debit card.&#8221; I pay it all off twice per month on Thursdays. I even have a calendar reminder for VCs and for Founders <a href=\"https:\/\/bit.ly\/buster11\">https:\/\/bit.ly\/buster11<\/a><\/li>\n<li>Stop leveraging &#8216;float&#8217;. Float is miniscule.<\/li>\n<li>Do not play the points game. You can win this game by playing a game you want to win. Don&#8217;t play the game that is stacked against you. Play the &#8220;Maximize Your FICO score game&#8221;<\/li>\n<li>Don&#8217;t get a debit card and get banks to revenue you like its a constant-granting-credit-credit-card.<br \/>\nWhen you owe on your debit card or fall below the balance, you are managing your debit card like a credit card. CLICHE debit card mistake!!<\/li>\n<\/ul>\n<p>How a grace period does NOT work (quoting from one of the 1,911 blog articles at Duck9)<\/p>\n<ol>\n<li>A grace period of 25 days disappears if you have an existing amount you owe<\/li>\n<li>A grace period of disappears if you have an existing credit card balance (also known as an amount you owe from the last statement<\/li>\n<\/ol>\n<\/div>\n<p><br clear=\"all\" \/><br \/>\nCEO of Duck9<\/p>\n<div class=\"gmail_signature\">Stanford University EIR (Entrepreneur in Residence)<\/p>\n<p>Duck9 = Deep Underground Credit Knowledge 9<br \/>\n125 University Avenue\/ 100<br \/>\nPalo Alto CA 94301<br \/>\n<a href=\"https:\/\/www.duck9.com\/ass\">https:\/\/www.duck9.com\/ass<\/a><br \/>\n<a>650-566-9600<\/a><br \/>\n<a>650-566-9696<\/a>\u00a0(direct)<br \/>\n<a>650-283-8008<\/a>\u00a0(cell)<\/p>\n<p>****************<br \/>\nEditor of the BusinessWeek Channel &#8220;What They Don&#8217;t Teach at Business School&#8221;<br \/>\n<a href=\"https:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog\">https:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog<\/a><br \/>\nCNN Video Channel: <a href=\"https:\/\/ireport.cnn.com\/people\/larrychiang\">https:\/\/ireport.cnn.com\/people\/larrychiang<\/a><\/p>\n<p>Read my last 10 tweets at <a href=\"https:\/\/www.Twitter.com\/LarryChiang\">https:\/\/www.Twitter.com\/LarryChiang<\/a><\/p>\n<p>Author, NY Times Bestseller<br \/>\n<a href=\"https:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog\/?s=Ny+times+bestseller\">https:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog\/?s=Ny+times+bestseller<\/a><\/p>\n<p>&#8220;What They Will NEVER Teach You at Stanford Business School&#8221; comes out 11-11-12<\/p>\n<p>##########<br \/>\nDuck9 is part of UCMS Inc.<br \/>\n<a href=\"https:\/\/www.ucms.com\">https:\/\/www.ucms.com<\/a><br \/>\n<a>630-705-5555<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Larry Chiang encourages CS majors to hack the FICO score, credit scoring system and game. Why should you trust a New York Times best selling author that doubles as a supermodel at New York Fashion Week?! See the #CSmajorCRO effort of 63,000 tweets. See the e-f-f-o-r-t of months-and-months of CS major promotion work: What They [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-6581","post","type-post","status-publish","format-standard","hentry","category-business-school-level-knowledge-about-credit-scores"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/6581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=6581"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/6581\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=6581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=6581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=6581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}