Those you know that are financially well off, in all likelihood, may be credit poor. Since 2000 the credit bureaus have been using a system referred to as the FICO Scoring Model. No one is exempt. Everyone is in this system, and the cost of some things used everyday can vary depending on this score beginning with the pricing of premiums on home and auto insurance.
I ask that those of you in Financial Services Profession consider asking your clients, as a matter of your course of establishing a relationship, if they have an idea of what their credit scores are at each of the three credit bureaus. Scores below 700 are considered poor, and simple things can be done to raise most credit scores fairly quickly.
Our Profile Review Program is designed to help our clients come to understand the impact their scores have on their lives, and the best way to improve and manage their credit to maximize their credit scores. Good credit scores come from having a healthy mix of credit in play and utilization. This mix needs to be some revolving (credit cards), and some installment (e.g., auto, home, student and other loans). Debit Cards connected to checking accounts, Rents, Utilities are only reported to credit bureaus when things go negative, so these are not things that actually help you build a better credit score.
The cost of implementing our recommendations is negligible to nothing. We have a game plan that we teach our clients. Our Profile Review program is only $90 which is a great value when one realizes how much they can save by implementing our recommendations.