Wise Credit - The Perlowitz Show

from wise credits. Go for it. Okay. Just I came out special and I know personally from a friend that you helped gain thousands of dollars not gain actually not lose the bank should stay in their pockets. So let's go for it. Let's explain it to all my viewers. So, first of all, we help anyone anyone that pays anything but the full balance on their credit card at the end of the month when the due date comes around. Whether it's minimum plus or just the minimum, you're probably paying high interest. And the average interest rate now in the US is around 28% a year. Wow. Now to explain a little bit about how we help, I'm going to go through a statement of a car that we have recently completed this week just so people understand. So they have balance sign $41,1362. His monthly minimum payment was $1331. $1,31 $919 of it goes straight to interest. For those who don't understand how minimum payments work, minimum payments are always 1% of your balance plus any interest and late fees occurred during the month. So in this case, $919 worth of interest plus 1% of 41,411 comes to 1331 that he's paying in interest. Wow. I'm sorry, in minimum pay minimum payments. And how much is his minimum payment? 920 of that is purely interest to the garbage. Interest to the garbage. Now, we borrow Hashem got this person 0% interest going forward. Wow. Okay. Has no impact to his credit. His new minimum monthly payment is now $71. So, there's two things to take into consideration here. Number one, he's going to pay a lot less than he's been paying till now. His last month minimum payment was 1331. Going forward, almost half. Cut it almost in half. Almost half. But not only that, till now from the 1331 that he's been paying 411 made its way to the balance. The rest was in the garbage can interest never coming back. Now from 701 he's paying the entire 701 towards the balance. So instead of paying half, he's paying double towards the actual balance. We actually go for usually a 5year payment plan. That's what we try to stretch it to so it comes out the cheapest possible monthly. Wow. If you want to pay more per month and you can you could however since there's no interest there's no reason to be paying more. Wow. So tell that who's who's paying over 15 years and you literally pull pulled it down for 5 years. Correct. So it's actually more than 15 years. Uh if you're paying minimum payment it's usually around 30 to 40 years depending on the bank. Non normal. So you pulled it from 30 years down to 5 years from 13 um something to71 pure pure pure. This is just one example. I'll actually give you pictures of the actual statements to post later so you can show people. That's amazing. This is crazy. You can go over bank after it's a no-brainer. I never sought a credit card that he has to pay interest. You got to be out of your mind to pay interest. Absolutely. Interest is not coming back. So, every dollar you can save going forward is wow. And now a lot of people want are wondering how does this negatively impact me? Right? Correct. What's the downside? The answer is as follows. It does not come up as a late as a negative account as a settled account as paid for less than the full amount. No derogatory mark at all. Does not come up as a negative impact. The only thing that will happen is they will close the specific card with the banks that we work with. Not because it's a negative towards your relationship with the bank. Simply because you're not paying interest. because they don't want you to continue adding purchases. However, once your balance is paid in full, you could always reapply for the same bank. And I've actually had customers during the program 2 years later that they actually did get approved with certain banks for new accounts. Wow. No negative impact or that's crazy. It's crazy. No brainer. But it's worth the So what's how does that work? They charge a flat service fee. Flat service fee. Flat service. So the guy has a $100,000 balance or a always want to be the same fee. In some cases, we could make it cheaper if someone has multiple accounts, but we never charge more. Oh, wow. Wow. That's amazing. Yeah. And gave him a example for a regular credit card, American Express charge card was basically $139,515 basically 104 220. So, he doesn't even have the option to pay minimum payments. say he has to pay the whole thing in full. He has to pay the full amount. So basically basically what we did for him is we put him in in a 5-year payment plan with a this was an American Express account. We got him a 2.99% interest rate with a new monthly payment of 2391 $2,391. Wow. in the so within 5 years and they payment plans was in steva chase and am all the banks most of the banks and I just want to one minute if not for that that he was able to do the payment plan with you he would have been over cuz would most likely go into default and American Express would probably pursue collections or whatever it is the idea is we gave him an option of not paying $100,000 at the end of the month we gave him an option so how did we solve him with $100,000 you made him a payment plan which cards are always do the full balance balance in in full at the due date. There's no minimum payment for the most part. Obviously, there are exceptions where there's planet pays and but for the most part it's due in full every month and we can come up with options for those who can't. I mean the fact that you guys saved how much money over this year did you save? probably in the last year I would say more than $20 million in million negotiated more than 20 million which means based on a year's worth of interest it would come out to 7 million yiddisha dollars yisha dollars that didn't go into the bank didn't go to stam go bank it went back into Eden's pocket and it stayed with Eden now is a summer season people are paying for the kids camps for the amount of credit cards that Eden are swiping one year's worth of interest it's just one year's worth of interest the amount of credit card that you machine are swiping now is unreal. So if you have a friend, you have a brother, you have a that you know is paying interest, save him. Call the wise call up wise wise credit and save money. If you don't have a friend, not to call up wise credit. But one more question before we wrap it up is collection. They're already down back the collection team and all that. You guys help them with that too? I've been in the business of credit in the world of credit for probably 9 10 years. So any credit question, happy to assist, happy to answer, happy to help. So don't hesitate. Give us a call. What's the phone number? 7186038995. Check it out with Wise Credit. Wow. [Music]