Your players have it all: riches, talent, and superstar status. But they might lack information on how to build strong credit—which translates into less-than-optimal buying power and increased personal risk. This is true at every level of an athlete’s career.
Rookies with little to no credit have difficulty obtaining car loans and even rental apartments without paying an extra security deposit. Acquiring even a basic credit card has become very difficult for those new to credit.
Players in mid or late career need proper knowledge on how to maintain strong credit and avoid mixing personal and business credit profiles as well as build a credit profile for post-retirement.
At all career stages the need to protect one’s identity and learn how to reduce risk is key and seldom taught in school or at home.
Athletes are often taken advantage of because of a less than ideal credit profile; most often due to a lack of credit history. We will address strategies to build and establish a credit profile that will benefit them years after they retire.
Identity Theft prevention & Recovery
Identity theft affects everyone, however high net worth individuals comprise nearly 50% of all identity theft victims. This section deals with how to ensure that you don’t become a statistic and what to do if you’ve already become a victim.
Medical Collections: How to deal with them
Athletes, even more than the general public, deal with injuries and tend to frequent doctors. As a result, we’ve found that 70% accumulate medical collections on their credit report – nearly double the rate of a standard individual. Collections can be especially detrimental to credit scores and a little-known secret is that paying them can be extremely damaging to your scores.
Qualifications for the most coveted cards in the world
We’ll go over what the different credit companies look for in the course of deciding who gets their exclusive cards. We’ll also cover what you need to obtain the illustrious Black card and perks come with it. This course is always popular among everyone, especially pro athletes and entertainers.
Regal Credit Management is one of the largest credit management companies in the U.S. Every staff member has advanced FICO® certification and a deft understanding of credit management. We’ve helped countless high net worth individuals—from pro athletes to celebrities—build, protect, and manage strong credit. Our CEO has given Forbes-worthy advice on credit protection. He’s spoken on credit management alongside Secretary of Education Arne Duncan, to Harvard students about financial literacy, and NFL athletes on credit management and protection.