ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Credit Score Repair Advice by Influencer Receives Backlash

Among a ton of bad financial advice on the internet, here's a lady who promises to improve your credit score
UPDATED JAN 22, 2024
Cover Image Source: @psmillan__ | TikTok
Cover Image Source: @psmillan__ | TikTok

Content creator @psmillan__ gained widespread attention on Instagram and TikTok for sharing advice on improving credit scores and securing substantial investments from banks. However, her strategies faced criticism for their dubious nature. In a popular video, @psmillan__ suggests a unique method to boost credit scores by invoicing oneself through various LLCs. The process involves creating and paying invoices with credit cards, aiming to prompt credit limit increases from banks.

Image SOurce: psmillan__ TikTok
Image SOurce: psmillan__ TikTok

Despite the video's popularity, it received backlash, with users questioning the legality of the suggested maneuver. A Community Note highlighted potential issues, and on Twitter, the video garnered 24 million views, with the majority advising against following the advice. @psmillan__ promotes video courses on financial literacy and "bank plays" on Instagram for $25. She clarified that the viral video did not represent her actual teachings and was shared without her consent.

In response to criticism, @psmillan__ posted a video showcasing a student's successful use of credit cards to fund an Airbnb purchase. She defended her methods, emphasizing responsible credit card use and the student's success.

Her tweets reporting success stories led users to report her to banks, raising concerns about circular transactions. @psmillan__ insisted her practices complied with the law, addressing accusations of potential legal violations.

Despite her confidence, users expressed horror at the advice, cautioning against accumulating high levels of credit card debt with potentially high interest rates. The internet's response has been largely skeptical of her unconventional financial advice.

On Instagram, @psmillan__ countered criticism with posts highlighting positive results from her methods. She shared stories of people supporting her businesses despite the controversy.

In a TikTok video, @psmillan__ shared personal details, stating that she's 26 years old, making over $30,000 monthly from businesses like Airbnb and an event space. She claimed to have secured funding from banks without proof of income after college. While she portrayed her success as easily achievable, the internet's response has been mixed, with skepticism prevailing regarding her unconventional financial advice.

MORE ON MARKET REALIST
In the end, Mr Wonderful cut off Greiner with a deal that the founder of Wad Free couldn't refuse.
15 hours ago
Seacrest got geniunely spooked as he couldn't figure out who played a prank on him.
16 hours ago
The seller brought some "Secret Service" memorabilia of former Attorney General J. Howard McGrath.
20 hours ago
The guest was already emotional because of the backstory involving native Alaskans.
1 day ago
The player once again fumbled a puzzle despite moving forward in the game.
1 day ago
The host didn't want to get more of the weird answers on the show anymore.
1 day ago
The founder of Beyond Sushi impressed the Sharks with 100% plant based flavors.
1 day ago
The Shark jumped back in to the deal as he thought his wife would love the product.
2 days ago
The guest who bought the item at a charity store had no idea that it was over 3,000 years old.
2 days ago
When the rare coin showed up on Harrison's table, he had to take his old man's approval for the deal.
3 days ago
Fans said that such behavior was unnecessary and slammed the antics as self-congratulatory.
3 days ago
Several customers took to social media to complain about spoilt milk that they purchased from the store.
3 days ago
Despite the massive appraisal, the brothers shared that they would never sell their collection.
3 days ago
Harrison is often impressed by suits belonging to legendary musicians or actors.
3 days ago
The founder of 'Permaplug' had done his research on the Sharks to help make a decision.
4 days ago
When the item turned out to quite a valuable artifact, Harrison refused to let it go.
4 days ago
The Sharks formed teams and ditched their partners to get a deal with "The Woobles".
4 days ago
With a tiny margin of four steps, the player won prizes worth $8,000 after a tense game.
5 days ago
The recall was issued amid reports of multiple deaths and over a dozen illnesses across 13 states.
5 days ago
The player celebrated her way to the stage and then got more than one reason to celebrate.
5 days ago