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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.