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Credit.com: Extra Credit
82 Plays2 years ago
Zencastr sits down with Nina Kwon, Senior Director, Marketing at Credit.com. Today you’ll hear all about ExtraCredit, a product from Credit.com that gives you unmatched credit coverage. It helps you build, track, guard, your credit, and more. With ExtraCredit you get 28 FICO® Scores, rent and utility reporting, 1 million dollar ID insurance, dark web scans, cash rewards, and a discount to a leader in credit repair!
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Transcript
Introduction to Extra Credit by Credit.com
00:00:02
Speaker
Hey Podcasters, it's Sunny with Zencaster. You've been invited to check out Extra Credit, a product from Credit.com that helps you build, track, guard, restore your credit, and more. Today we'll meet Nina Kwan, Senior Director of Digital Marketing at Credit.com. Let's learn more about their product and see if it's a good fit for your podcast.
00:00:30
Speaker
Nina, tell us a little bit about your company and what you guys do.
Credit.com's Mission Explained
00:00:34
Speaker
Yeah, so credit.com has been around for quite a bit of time. And ultimately, what we're really trying to do is enable our members to be able to navigate the complex system of credit in this country, right? It's definitely complicated. It's not straightforward. You have the bureaus, you have your
00:00:53
Speaker
credit cards, mortgages, interest rates, everything's so linked and finance is so integral as a part of someone's life. We really want to be able to support in every way we can in terms of education and knowing your credit score and stuff like that. And we
Overview of Login and Subscription Services
00:01:10
Speaker
have a kind of two
00:01:12
Speaker
I guess two different types of products available to our consumers and one is our JustCredit.com standard login where you can sign up. You can get your credit score updated every couple weeks so you know where you stand. And then we have a more robust product called Extra Credit which is our subscription product which
00:01:31
Speaker
really has the tools to be able to make an impact on your credit. And that comes with a variety of different tools to be able to build, track, protect your credit. And so if you need more credit help, extra credit is probably the right product for you.
00:01:49
Speaker
Okay, and let's dive into that a little bit more because that's exactly what people are going to be talking about. They decide to work with you guys and talk about extra credit on their podcast. So are
Unique Features of Extra Credit
00:02:00
Speaker
there other programs out there like extra credit? What makes it different or unique compared to maybe some of your competitors?
00:02:06
Speaker
Yeah, definitely. So there are other products out there that do some of the things that extra credit does. And so what really sets extra credit apart is that if you were to go sign up for everything that you get with extra credit,
00:02:20
Speaker
you'd be probably paying over $100 a month. So you have people in the market giving identity theft solutions and building credit. But just my FICO alone will charge you, I think upwards of like $39.99 to get what you get with extra credit on top of everything else.
00:02:38
Speaker
So what makes extra credit unique is that you just need to sign up for one service. We add positive trade lines to your credit report. We give you 28 FICO scores every month. And so the cool thing about that is, you know, a lot of people use like credit karma or credit sesame to track their credit, right? But the reality is, is that those scores are very educational. Those scores are not the scores that lenders actually make credit decisions on. So
00:03:08
Speaker
If you go into a car dealership to get a car and you, you know, you have your karma score in hand and you think you have like karma says you have a 770, likely when you get to the dealership, they're going to pull a FICO score. We see
Key Benefits of Extra Credit Services
00:03:23
Speaker
like really big differences in those scores. Sometimes it'll be higher. A lot of times it'll be lower. And so with extra credit, you don't have that element of surprise. We tell you exactly what your FICO scores are. And so you're going to be seeing what the lenders see. And then.
00:03:39
Speaker
As far as identity theft protection, you get a million dollars of identity theft insurance. You're able to earn cash rewards through our rewards program. So it's a very robust product and there's nothing like it on the market that offers this at a $24.99 a month price point.
00:03:55
Speaker
And how do people access this? Do you guys have an app or do they go through the website or what's the process? You can do either or. We do have an app and you can access your account through the app or on web you can access straight through on desktop as well.
00:04:10
Speaker
Is this, I mean, I know credit is important in general, always has been, at least for as long as I've been around. But is there a particular reason why now would be more important for people to protect their credit? What's the value in doing something like this now? Yeah, definitely. I mean, you know, even with identity theft, I feel like I hear about a data breach almost every day. And with, you know, so many people shifting to online shopping, your data is everywhere.
00:04:40
Speaker
And
Importance of Credit Protection Today
00:04:41
Speaker
so, you know, with that million dollars in identity theft insurance, you don't have to worry about charges. It even goes towards like legal fees if you come up against some legal troubles dealing with identity theft. And so it's really peace of mind, right? You don't have to worry about, hey, if something happens, I'm going to be, you know, out of luck. Extra credit is going to provide that peace of mind for you every month.
00:05:03
Speaker
Yeah, that's really smart because we need the information. We don't know what we don't know, right? So let's talk a little bit about promoting extra credit on podcasts. Why are you interested in reaching out to podcasters now?
Impact of Podcast Advertising
00:05:18
Speaker
And why podcasting in general? Yeah, I think, you know, just from like an avid podcast listener myself, I listen to podcasts a lot of times to learn things. And
00:05:28
Speaker
I have the podcasters that I really like and trust and I've actually bought a bunch of things from podcast ads before because generally it's not just an ad on Facebook that's telling me, hey, go check this thing out. There's actually a voice behind a podcast ad that I really like. If a podcaster that I listen to on a weekly basis is like, hey, I tried this thing out and I found it really helpful,
00:05:54
Speaker
I'm way more primed to like check that out based on that kind of recommendation than just a Facebook ad that I see on my feed or an Instagram ad that I see on my feed. So I really like the kind of reliable source of information that you get from a podcaster that's more unique than I think
00:06:13
Speaker
than any other channel. Yay, you're a podcast listener. I love that. It's always nice to hear that. And what are you hoping will come of this campaign, Ina? What defines success for you guys?
00:06:28
Speaker
ultimately for
Measuring Success Through Subscriptions
00:06:29
Speaker
us and our business objectives really are getting someone to a paid sale. So what we do is we offer people a seven-day free trial so they can get into the product and see what it's all about. And then after the seven days is when we charge them for the first month. That's the first kind of performance metric that we really need to hit. And so
00:06:51
Speaker
However many paid sales a podcast can drive, that's really going to be the measure of success for us. It's kind of hard to talk about all of the different features of extra credit. And so through the last, I guess, year and a half of really marketing it, where we've seen success is
00:07:09
Speaker
the build credit messaging and the track your credit messaging, saying things like, you know, the scores that you see on the free sites is not really your score, giving people insight into how extra credit can build your credit score. That's also worked well for us this past year and a half or so. And so those are the two kind of communication points that have done well performance-wise for us. Wonderful. Well, thank you, Nina, for being with us today. Of course.