WEBVTT - Stacey Tisdale & Lamine Zarrad 0:00:00.400 --> 0:00:04.800 Wait that up in the morning Breakfast Club. Morning. Everybody 0:00:04.840 --> 0:00:08.480 is DJ Envy Angela Ye, Charlomagne the guy. We are 0:00:08.520 --> 0:00:11.280 to Breakfast Club. We got some special guests joining us today. 0:00:11.520 --> 0:00:14.760 We have Stacy Tisdale and I'm gonna mess up your name. 0:00:14.800 --> 0:00:17.799 Your first name and last let means ard. You got it. 0:00:18.200 --> 0:00:22.680 I didn't mess it up. Welcome God, thank you to 0:00:22.680 --> 0:00:24.279 be back. I got the le mean point. I was 0:00:24.320 --> 0:00:27.520 more concerned about this Ard. He did it well. I'm 0:00:27.520 --> 0:00:29.720 really excited to have you guys here today because we 0:00:29.800 --> 0:00:32.560 have partnered up on this app. And so let me 0:00:32.600 --> 0:00:34.720 and you've been here before. I believe when you were 0:00:34.720 --> 0:00:37.760 here was for Jiles Bank. That's right, So let's talk 0:00:37.760 --> 0:00:41.479 about your background. Thank you, Thank you so. Stellar Fi 0:00:41.680 --> 0:00:44.159 is my third startup, believe it or not, it's been 0:00:44.240 --> 0:00:47.920 kind of a crazy ride. I started out by building 0:00:47.920 --> 0:00:51.479 a neil bank on cryptocurrency back in twenty fifteen gold token. 0:00:51.800 --> 0:00:54.200 Then we build Joust, which is a bank for freelancers 0:00:54.880 --> 0:00:57.120 that was acquired by a company calls in business. Let 0:00:57.120 --> 0:01:00.720 me hold something, man, Let me hold a cup dollars man. 0:01:01.160 --> 0:01:04.399 I'm kind to join us. Come join us. We'll give 0:01:04.440 --> 0:01:06.880 you more than dollars. We'll give your ownership, which is 0:01:06.920 --> 0:01:10.080 which is awesome. And and now Stellify. So Stellify is 0:01:10.120 --> 0:01:12.520 kind of a distillation of all of my experiences. I'm 0:01:12.560 --> 0:01:15.480 an immigrant, I came to US from a former Jossar, 0:01:15.600 --> 0:01:19.080 my father's Tunisia, my mothers from Usbert John Uh and uh. 0:01:19.200 --> 0:01:22.160 And in any case, I've experienced how difficult it is 0:01:22.200 --> 0:01:24.440 to navigate the financial services in this country. I mean 0:01:24.480 --> 0:01:27.759 it really is. It's a it's a complicated experience, it's convoluted, 0:01:27.880 --> 0:01:30.640 it's the cards are stacked against you. And so I 0:01:30.680 --> 0:01:33.040 made a lot of mistakes along the way, and uh 0:01:33.040 --> 0:01:34.959 and decided that I need to learn more about finance, 0:01:35.040 --> 0:01:38.920 study the business, became a stockbroker, Mayoral Lynch back at 0:01:38.920 --> 0:01:41.720 the highly financial crisis, learned a lot then than a 0:01:41.800 --> 0:01:45.000 regulated with US Treasury, and then said, I want to distill, 0:01:45.040 --> 0:01:48.160 listen to experience, all of those experiences into products because 0:01:48.160 --> 0:01:50.800 I want other people to use those products. And so 0:01:50.920 --> 0:01:54.000 it started to build. And now Stellar is you know, 0:01:54.040 --> 0:01:56.080 think it is this way third times a charm, right, 0:01:56.080 --> 0:01:58.920 It's going to be the best, the best company we've 0:01:58.920 --> 0:02:01.880 built so far. In twenty fifteen, you were working with crypto. 0:02:02.600 --> 0:02:05.240 That's right, pretty early on. Wow, did you invest in 0:02:05.280 --> 0:02:08.080 it earlier? Yeah, I didn't have a lot of money 0:02:08.120 --> 0:02:10.080 to invest, but I invest a little bit. Okay, tell 0:02:10.120 --> 0:02:13.200 you pretty well then did All right? Okay, question this aside. 0:02:13.240 --> 0:02:15.760 But have you been experiencing, like any any prejudice because 0:02:15.800 --> 0:02:20.639 you're from the USSA former US I have in the past. Yeah, yeah, 0:02:20.680 --> 0:02:22.600 so I when I came to US, I joined the Marines. 0:02:22.919 --> 0:02:25.280 And it's interesting back then, in the nineties, even you 0:02:25.320 --> 0:02:27.240 had a lot of folks who you know, came out 0:02:27.240 --> 0:02:29.840 of the Cold War and so, uh, you know, there 0:02:29.880 --> 0:02:31.440 was a lot of a lot of jokes made and 0:02:32.120 --> 0:02:34.280 a lot of a lot of picking in the Marine Corps. 0:02:34.280 --> 0:02:36.440 But you know, you just kind of get through it. Yeah. 0:02:36.480 --> 0:02:38.160 I just I came back from France. I was in 0:02:38.240 --> 0:02:40.480 cans and it was like, you can't if you're from Russia. 0:02:40.520 --> 0:02:43.360 They're not rocking with you over there at all. Yeah. Yeah, 0:02:44.040 --> 0:02:47.400 they won't even allow you to buy Channel certain people, 0:02:47.440 --> 0:02:52.639 like if you go in the Channel store. Yeah, they 0:02:52.639 --> 0:02:55.000 were upset about that. But they were saying even certain 0:02:55.040 --> 0:02:57.440 things like they won't allow you to purchase things if 0:02:57.440 --> 0:03:01.480 you're from Russia. Wow, Stacy, there's a lot going on 0:03:01.560 --> 0:03:03.080 right now, and I want to know how these things 0:03:03.080 --> 0:03:06.880 affect the economy. Ro versus way was just overturned. There's 0:03:06.919 --> 0:03:09.079 a lot of turmoil, So how does that affect the 0:03:09.120 --> 0:03:11.680 economy and why is it important for us to be 0:03:11.800 --> 0:03:15.840 empowered financially? It's I think this is going to go 0:03:15.919 --> 0:03:18.799 down as one of the biggest economic moments in black 0:03:18.840 --> 0:03:21.720 financial history, right up there with redlining, right up there 0:03:21.720 --> 0:03:28.880 with predatory lending. And it's really not a mystery. The 0:03:29.400 --> 0:03:33.440 number one reason that women don't want to have children 0:03:33.520 --> 0:03:36.400 and want abortions as financial. They're simply afraid that they 0:03:36.400 --> 0:03:38.680 don't don't have enough money to take care of their babies, 0:03:39.160 --> 0:03:42.960 and their fears are valid. Sixty percent of all of 0:03:43.000 --> 0:03:46.440 the households in the United States black women are headed 0:03:46.520 --> 0:03:50.080 by women. So in addition to carrying that burden, they're 0:03:50.080 --> 0:03:53.640 going to have the inevitable career disruptions that come with motherhood. 0:03:54.200 --> 0:03:56.800 Those career gaps are going to mean that they don't 0:03:56.840 --> 0:03:59.160 have as much time to build up money for retirement, 0:03:59.360 --> 0:04:01.600 they don't have as much money to build up for 0:04:02.160 --> 0:04:05.160 Social Security benefits. And you know, you live in a 0:04:05.160 --> 0:04:09.120 country where poverty stricken elderly are already the majority black women. 0:04:09.520 --> 0:04:12.560 Then you have education gaps. They're going to have to 0:04:12.600 --> 0:04:14.680 take times out of their education, which is going to 0:04:14.680 --> 0:04:18.360 have an impact on their entire life trajectory. One thing 0:04:18.400 --> 0:04:20.760 that we're also not talking about a lot is this 0:04:20.800 --> 0:04:24.839 whole overturning of this decision is going to make the 0:04:24.920 --> 0:04:28.800 wealth gap between black women and white women even bigger. Really, 0:04:28.920 --> 0:04:34.440 you saw companies, I think Disney made an American expressor 0:04:34.480 --> 0:04:37.400 among the companies that have said that we're going to 0:04:37.560 --> 0:04:40.440 give a benefit to our employees if you need to 0:04:40.440 --> 0:04:42.800 cross a state border to get an abortion, and imagine 0:04:42.839 --> 0:04:44.560 you have to tell your job that because that's the 0:04:44.640 --> 0:04:46.640 thing that is so personal it is and now I 0:04:46.640 --> 0:04:51.240 have to go and like go to human you know. Yeah, 0:04:51.360 --> 0:04:54.719 then who are those workers? They're largely white collar white 0:04:54.760 --> 0:04:58.240 women who are going to get those jobs. A third 0:04:58.279 --> 0:05:01.120 of low income workers but who make less than that 0:05:01.440 --> 0:05:04.000 don't even get paid time off. So the bottom line 0:05:04.080 --> 0:05:06.159 is black women are simply not going to have the 0:05:06.240 --> 0:05:09.560 time and the money to cross state borders. And you know, 0:05:09.839 --> 0:05:13.560 six months after someone has a baby that you know, 0:05:13.640 --> 0:05:18.000 an unwanted pregnancy, they lose full time employment. There's all 0:05:18.040 --> 0:05:22.120 sorts of things. We talk again something else. When a 0:05:22.160 --> 0:05:24.799 woman puts that she has a child on a resume, 0:05:25.560 --> 0:05:28.159 they are twice as likely not to get called back. 0:05:28.600 --> 0:05:30.520 So we see all these issues for women, but a 0:05:30.520 --> 0:05:32.760 lot of people aren't talking about how this is impacting 0:05:32.839 --> 0:05:42.120 men and men. Well, the outis yes, men, the fathers, 0:05:42.760 --> 0:05:47.120 men who support women who have abortions, who their's partner 0:05:47.200 --> 0:05:49.680 have abortions, they're four times more likely to go to 0:05:49.720 --> 0:05:53.400 college and to earn more. And the top reason that 0:05:53.760 --> 0:05:57.920 men support women in having abortions is because they want 0:05:57.960 --> 0:05:59.599 to be able to take care of the families that 0:05:59.640 --> 0:06:03.239 they all already have. And when you put all this together, 0:06:03.320 --> 0:06:05.120 and the reason why this is going to be one 0:06:05.160 --> 0:06:08.040 of the biggest turning points in the economic history of 0:06:08.120 --> 0:06:12.760 Blacks is suffer the children. Children who grow up in 0:06:12.839 --> 0:06:15.320 these outcomes are not They're not going to have as 0:06:15.400 --> 0:06:19.520 much access to education, their life trajectories are going to 0:06:19.560 --> 0:06:22.200 be changed. There's food insecurity. This is all research, this 0:06:22.360 --> 0:06:24.560 is fact. I'm not journalist. I'm not going to sit 0:06:24.600 --> 0:06:26.480 here and tell you my opinion about it, but this 0:06:26.560 --> 0:06:29.919 is just fact. So again we have this whole cycle. 0:06:29.960 --> 0:06:33.840 It's just heartbreaking of generations of generations when you look 0:06:33.880 --> 0:06:37.360 at all the gains of Blacks have made post COVID 0:06:37.520 --> 0:06:41.200 in the housing market being first time new investors, you see, 0:06:41.240 --> 0:06:43.800 this is just another hit that's going to slam the 0:06:43.839 --> 0:06:48.600 economy and really affect future generations. But there's one thing 0:06:48.640 --> 0:06:50.920 that we did see in all of us over the 0:06:50.960 --> 0:06:53.520 past few years. The system is just rigged against us. 0:06:54.040 --> 0:06:57.400 The traditional financial system is. So we stepped out, We 0:06:57.440 --> 0:07:01.520 embrace the digital economy, We start to use technology to invest. 0:07:01.880 --> 0:07:05.240 We started doing all these things. Black millennials fastest new 0:07:05.240 --> 0:07:08.400 group of home buyers after twenty twenty. Now it's even 0:07:08.440 --> 0:07:11.760 more important that we do that again. Empower ourselves again 0:07:12.080 --> 0:07:14.440 and this and especially when it comes to building credit, 0:07:14.480 --> 0:07:16.640 because it's going to be harder than ever to qualify. 0:07:16.960 --> 0:07:19.920 And that's why the whole Stellar not that's one of 0:07:19.920 --> 0:07:22.360 the things this whole Stellar FIY initiative is about. I 0:07:22.400 --> 0:07:25.120 was going to ask you, you know, um, with credit. 0:07:25.200 --> 0:07:28.720 You know, credit is a game of numbers and right decisions, right, 0:07:29.040 --> 0:07:31.760 not necessarily how well you pay your bills, but as 0:07:31.800 --> 0:07:34.040 far as how much credit. So with this app, how 0:07:34.040 --> 0:07:37.480 do you break explaining that to the consumer? For sure? 0:07:37.600 --> 0:07:40.000 For sure? Yeah, and the credit score is pretty complex, right, 0:07:40.000 --> 0:07:42.760 It's kind of a black box initially created by Fico. 0:07:42.920 --> 0:07:44.920 Now there's advantage. You know, the bureaus kind of have 0:07:44.920 --> 0:07:47.080 their hands in it, and what they look at is 0:07:47.160 --> 0:07:49.240 a bunch of different things. Some of that stuff is 0:07:49.280 --> 0:07:51.160 like how many credit cards do you have compared to 0:07:51.160 --> 0:07:53.200 how many loans you have? Right, So it's called credit 0:07:53.240 --> 0:07:55.080 mix because people feel like if they pay off all 0:07:55.120 --> 0:07:58.040 their loans, their credit will be through the roof. That's 0:07:58.080 --> 0:08:00.920 not the case at all, now, know what they I mean, 0:08:00.920 --> 0:08:02.880 Look at the high level, they want you to have 0:08:03.040 --> 0:08:05.480 a bunch of stuff on your profile, and they want 0:08:05.480 --> 0:08:07.760 you to prove that you're paying on time. Right, So 0:08:07.800 --> 0:08:10.720 like that's a simple rule of thumb. It's more complicated 0:08:10.720 --> 0:08:12.800 than that. And the way we build a product, we said, look, 0:08:13.000 --> 0:08:15.119 we don't want to give you another line of credit 0:08:15.200 --> 0:08:17.280 or debt for example, on your profile. We don't want 0:08:17.280 --> 0:08:19.960 to burden you. We want to inject ourselves into what 0:08:19.960 --> 0:08:24.160 you already do. Everyone pays rent, everyone pays utilities. Stuff 0:08:24.400 --> 0:08:28.800 that you have to Netflix, Hulu, whatever, right, and you 0:08:28.840 --> 0:08:30.280 already do it. You already do it, but you get 0:08:30.280 --> 0:08:33.040 a no credit for it. And initially, when we're thinking 0:08:33.080 --> 0:08:36.400 about the app. We thought, let's just report that stuff 0:08:36.480 --> 0:08:38.400 to the bureaus. And what we learn as the bearers 0:08:38.400 --> 0:08:41.680 don't want that. They don't accept that information because that's 0:08:41.679 --> 0:08:44.120 not credit. They're saying that, we want a real credit 0:08:44.160 --> 0:08:47.560 transaction in our system. We want to see that your 0:08:47.600 --> 0:08:51.040 customer is actually a credit worthy person, meaning that they 0:08:51.120 --> 0:08:53.040 borrowed money and they paying on money back. And if 0:08:53.040 --> 0:08:55.240 you're saying, here's they just paying for Netflix or for 0:08:55.520 --> 0:08:57.240 their gym membership, they don't want to see that in 0:08:57.280 --> 0:08:59.720 a system. It clutters the system. So we said, we 0:08:59.760 --> 0:09:02.560 have a way around it, and what we build is this, 0:09:02.840 --> 0:09:05.360 We'll build a bill pay platform that pays your bills 0:09:05.360 --> 0:09:07.240 on your behalf. So in other words, we're using our 0:09:07.240 --> 0:09:09.559 money to pay your bills and then we pull the 0:09:09.600 --> 0:09:11.080 money from your bankccount in the back end, so we're 0:09:11.080 --> 0:09:14.960 creating credit transaction. Were quite literally advancing you the cash 0:09:15.000 --> 0:09:16.760 and then we pull the money back. And because we 0:09:16.840 --> 0:09:19.320 created a real credit transaction, now we can pay for 0:09:19.360 --> 0:09:21.920 your Netflix, we can pay for your gym, we can 0:09:21.960 --> 0:09:24.920 pay for your rent, whatever it is, right, we're really 0:09:24.960 --> 0:09:27.920 agnostic what's on the other end of that transaction, and 0:09:28.000 --> 0:09:30.640 we can report it legitimately to any bureau, So we'll 0:09:30.800 --> 0:09:32.600 wait a minute. So you're gonna pay my stuff before 0:09:32.679 --> 0:09:34.640 I do it, and then you're gonna hope that I 0:09:34.679 --> 0:09:36.520 have enough money in account to get your money back. 0:09:36.920 --> 0:09:38.520 We're not gonna hope. We're gonna we're gonna look into 0:09:38.520 --> 0:09:40.160 your ban account. The way the app works just like 0:09:40.200 --> 0:09:41.680 any other Apple I don't know if you use robin 0:09:41.760 --> 0:09:44.920 Hood or really like even neo banking apps. You link 0:09:44.960 --> 0:09:47.240 your account to it, right your bank account. It takes 0:09:47.240 --> 0:09:49.800 two seconds. You link it gives us a visibility into 0:09:49.800 --> 0:09:52.360 what's going on your bank account, even historical data, so 0:09:52.400 --> 0:09:56.040 we don't have to hope we make informed decisions. Now 0:09:56.080 --> 0:09:58.959 for somebody like me who who I'm very old school 0:09:58.960 --> 0:10:00.720 with it, right, like meaning I liked hold my money. 0:10:00.760 --> 0:10:03.120 I'd rather pay my bills myself and take it out 0:10:03.160 --> 0:10:05.160 my account. He's really old school. He dies his beard, 0:10:05.600 --> 0:10:07.440 don't You can't tell how old school, but he's very 0:10:07.440 --> 0:10:14.760 old cool. Continue, that's old school. That was really interrupted 0:10:14.760 --> 0:10:17.920 by robo cop overhead. When it comes to it, that's 0:10:17.920 --> 0:10:22.680 old school. That's old school references. But I was saying, 0:10:22.720 --> 0:10:24.320 you know, for somebody like that, so how do you 0:10:24.360 --> 0:10:26.320 protect it? To make sure that the right people can 0:10:26.320 --> 0:10:29.240 see the account and not hackers or anybody else that 0:10:29.280 --> 0:10:31.520 can get through the account. To make sure, Yeah, for sure. 0:10:31.679 --> 0:10:34.760 I mean we have a we have an onboarding experience, right, 0:10:34.960 --> 0:10:38.040 just like like a banking experience. When you sign up, 0:10:38.080 --> 0:10:40.560 we validate your identity, will work with third party partners 0:10:41.280 --> 0:10:44.160 that have access to government databases, and so it's pretty 0:10:44.200 --> 0:10:48.840 it's pretty straightforward. Were you security like modern level banking security, 0:10:49.240 --> 0:10:50.960 and when you sign up, you give us your name, 0:10:51.240 --> 0:10:54.480 your address, your password, or you create a password you're 0:10:54.520 --> 0:10:57.400 so security number. We then run the check on your 0:10:57.440 --> 0:10:59.240 name to make sure you are who you are because 0:10:59.240 --> 0:11:02.720 fundamentally it's very difficult to fraud our system. But it's uh, 0:11:02.760 --> 0:11:04.839 you know, but but you could potentially if you were 0:11:04.880 --> 0:11:07.600 to lie to us, you can access someone else's credit information. 0:11:07.640 --> 0:11:09.240 We don't want to do that, right when don't we 0:11:09.240 --> 0:11:12.160 be the company that allows you know, Angela accessing your 0:11:12.280 --> 0:11:14.200 credit report, and so we want to make sure that 0:11:14.320 --> 0:11:18.800 Angela is who she says she is. I already have 0:11:18.840 --> 0:11:21.000 access to his credit run, don't doubt it. I was 0:11:21.000 --> 0:11:23.000 going to ask you this too. You know a lot 0:11:23.040 --> 0:11:25.800 of times people have accounts that they don't know about 0:11:26.120 --> 0:11:28.199 well that app hal would that felt? For instance, I 0:11:28.240 --> 0:11:30.160 had a piec of Richard, right, yeah, and I haven't 0:11:30.240 --> 0:11:32.120 used it in ten years. It's because I just have it, 0:11:32.760 --> 0:11:34.920 but to they closed the account, or when they closed 0:11:34.920 --> 0:11:37.319 the account, my credit shot down because now it's a 0:11:37.360 --> 0:11:39.520 closed account. But if I would have known, I would 0:11:39.520 --> 0:11:41.280 have just bought something for one hundred dollars that keeps 0:11:41.320 --> 0:11:44.360 that account open. Credit score one oh one. So would 0:11:44.360 --> 0:11:46.400 you guys have that as well? We do. We do. 0:11:46.520 --> 0:11:48.640 So Basically, when you access the app, you can see 0:11:48.679 --> 0:11:52.240 all of your credit information, like your entire report. You 0:11:52.280 --> 0:11:54.120 can you can then see that, hey, I have this 0:11:54.160 --> 0:11:56.320 old account. For example, I discover that I have an 0:11:56.360 --> 0:11:58.040 old account that I haven't used in ten years and 0:11:58.120 --> 0:11:59.840 there and then you know, they've been sending me letters 0:11:59.880 --> 0:12:02.640 to a wrong address saying they're going to shut it down, 0:12:02.880 --> 0:12:04.800 and now I can use that account so they don't 0:12:04.800 --> 0:12:06.440 shut it down, so I still have that access to 0:12:06.480 --> 0:12:08.800 that credit and it's you know, positively impacts my score. 0:12:09.040 --> 0:12:11.960 So absolutely. We have a ton of tools on a platform. 0:12:12.120 --> 0:12:14.560 There's a month monthly membership fee that gives you access 0:12:14.600 --> 0:12:19.319 to simulators, calculators, everything you need to be well educated 0:12:19.320 --> 0:12:21.120 about your credit and make decisions that are you know, 0:12:21.160 --> 0:12:23.240 well informed decisions. So if you want to go borrow 0:12:23.240 --> 0:12:25.319 money for a house, for example, we want to buy 0:12:25.320 --> 0:12:28.000 a car, want to get a credit card, Our platform 0:12:28.080 --> 0:12:30.959 is designed to give you everything you need to make 0:12:30.960 --> 0:12:33.320 a decision right there without really thinking about it. Just 0:12:33.480 --> 0:12:36.360 quick analysis, quick snapshot, and then you can make a 0:12:36.400 --> 0:12:41.319 quick decision where your Where did these payments get reported? Too? 0:12:41.360 --> 0:12:45.319 Because I know there are three main places that they report, 0:12:45.520 --> 0:12:48.720 three main agencies. Yeah, so we report today. We report 0:12:48.720 --> 0:12:52.640 to Experience, TransUnion, and Equifax. These are the three main bureaus, 0:12:52.720 --> 0:12:55.280 right that everyone knows about what people are don't talk about. 0:12:55.280 --> 0:12:57.320 There's another fourth bureau and we're going to be reporting 0:12:57.320 --> 0:12:59.760 to that fourth burre as well. It's called Navius. And 0:13:00.040 --> 0:13:03.600 a lot of the credit card companies actually check your 0:13:03.600 --> 0:13:06.760 report from inter this instead of Experience or others. Right, 0:13:06.800 --> 0:13:09.760 And so when when other companies, for example, report your information, 0:13:10.000 --> 0:13:12.600 they usually report to one or two bureaus because you 0:13:12.640 --> 0:13:15.280 have to pay money to report. We report to all 0:13:15.320 --> 0:13:17.120 three now and we're going to be reporting to four. 0:13:17.440 --> 0:13:19.160 So think of it this way. It's a complete three 0:13:19.280 --> 0:13:21.880 sixty impact on your credit. So like when you use 0:13:21.920 --> 0:13:24.640 our product. If you want to go borrow money tomorrow 0:13:24.679 --> 0:13:27.720 from any lender out there, it will have a massive 0:13:27.760 --> 0:13:29.760 impact on you. Right, the lender will be able to 0:13:29.800 --> 0:13:33.240 see that you have all those payments, report it. Your 0:13:33.240 --> 0:13:35.360 credit score is going to improve a crossboard through every 0:13:35.360 --> 0:13:37.600 single model. Now you said there's a monthly fee, So 0:13:37.640 --> 0:13:40.000 what does that membership fee? So we have three, right, 0:13:40.000 --> 0:13:42.679 we have three plans. Because we have so many features, 0:13:43.000 --> 0:13:45.439 we have to figure out how do we separate those features, 0:13:45.840 --> 0:13:48.520 How do we separate those features and offer them in 0:13:48.800 --> 0:13:52.440 a fair way to folks? And so we have the 0:13:52.520 --> 0:13:54.800 lowest century plans four ninety nine a month, four out 0:13:54.800 --> 0:13:56.720 a nine a month gives you access to five hundred 0:13:56.720 --> 0:13:58.920 dollars and spending, so you can add five hundred dollars 0:13:58.920 --> 0:14:01.120 in bills. That's pretty cool, I did think of there's 0:14:01.160 --> 0:14:03.840 no interest, there are no other fees, and you have 0:14:03.920 --> 0:14:05.880 access to a bunch of tools to manage your credit. 0:14:06.120 --> 0:14:09.520 For nine ninety nine, you can run up to twenty 0:14:09.559 --> 0:14:12.560 five thousand dollars in bills. I mean if if you 0:14:12.600 --> 0:14:15.040 were compared to a credit card, I mean, how many 0:14:15.040 --> 0:14:17.920 credit cards dollars ninety nine six four dollars nine nine 0:14:18.240 --> 0:14:26.040 that's rights. Yeah, yeah, I I you know what that's 0:14:26.120 --> 0:14:30.000 that's a good call out, man. I need to be 0:14:30.040 --> 0:14:32.960 conscious of these things. That's true. Four dollars and ninety 0:14:33.040 --> 0:14:35.840 nine cents, and then nine dollars ninety nine cents, and 0:14:35.840 --> 0:14:38.720 so for nine dollars ninety nine cents you have access 0:14:38.720 --> 0:14:42.400 to twenty five thousand dollars in spending. That is revolutionary. 0:14:42.480 --> 0:14:44.680 There's there's not a credit product out there. You pay 0:14:44.720 --> 0:14:47.120 a mortgage, you can, I mean you can pay everything, right? 0:14:47.160 --> 0:14:49.040 How many people have more than twenty five grand a 0:14:49.080 --> 0:14:53.480 month and bills? These guys and guess what, we have 0:14:53.520 --> 0:14:55.320 a we have a plan for you too though for 0:14:55.560 --> 0:14:58.600 nine for nineteen ninety nine, so nineteen dollars ninety nine 0:14:58.600 --> 0:15:01.640 cents unlimited, on limited. So if you have a hundred 0:15:01.640 --> 0:15:04.640 thousand dollars in bills monthly, you can add it like 0:15:04.760 --> 0:15:10.920 a black card of it is like bills months. Yeah, 0:15:10.920 --> 0:15:13.640 that's so important because thirty five percent of your credit 0:15:13.720 --> 0:15:15.600 score is on time bill payment. Because I know some 0:15:15.640 --> 0:15:17.480 people are like, well, why don't I just pay it myself? 0:15:17.840 --> 0:15:21.120 Thirty five percent the biggest component of your credit score 0:15:21.200 --> 0:15:24.400 is on time bill payment and all of those bills. 0:15:25.200 --> 0:15:27.960 What the mean was talking about don't count. Now that 0:15:28.400 --> 0:15:31.280 Stellar fi is paying them on your behalf, it almost 0:15:31.360 --> 0:15:35.040 looks like you're paying off a credit card transaction, so 0:15:35.120 --> 0:15:37.440 you get credit for those. And there's the other apps 0:15:37.480 --> 0:15:41.520 out there. None of them give you that credit building acts. 0:15:41.600 --> 0:15:44.880 None of that give you on that unlimited access. And 0:15:44.960 --> 0:15:48.720 another thing that really distinguishes Stellar five from the others 0:15:49.000 --> 0:15:51.560 is as Angela and I were, you know, part of 0:15:51.560 --> 0:15:54.080 this journey and talking to people about through the years 0:15:54.080 --> 0:15:57.720 with wealth Wednesdays about what they need. Nobody can do 0:15:57.760 --> 0:16:01.000 this stuff alone. It's really hard to improve your finances alone. 0:16:01.240 --> 0:16:03.640 So the first thing we did is we contacted the 0:16:03.720 --> 0:16:07.600 National Foundation for Credit Counseling, that's the big thing tank nonprofit, 0:16:07.920 --> 0:16:11.680 and they are going to offer free one on one 0:16:11.720 --> 0:16:16.920 credit coaching to Stellar fy users and that really distinguishes us. 0:16:16.920 --> 0:16:20.480 So you can just go to NFCC dot org, forward 0:16:20.480 --> 0:16:24.080 slash Stellar and you get a free, real person, one 0:16:24.120 --> 0:16:28.080 on one on one credit coaching. This is about financial 0:16:28.120 --> 0:16:31.400 empowerment platform you touched on earlier, the Roe v. Wade, 0:16:32.160 --> 0:16:34.440 you know, and how women it's more important than ever 0:16:34.480 --> 0:16:36.640 for women and men to rebuild their credit. But it's 0:16:36.800 --> 0:16:41.800 you know, all these marginalized groups between Latinos, Hispanics, communities 0:16:41.800 --> 0:16:45.440 of color. We really lose hundreds of billions of dollars 0:16:45.440 --> 0:16:48.480 a year because we get charged higher interest rates and 0:16:48.520 --> 0:16:51.120 it's harder for us to do things like mortgages. A 0:16:51.120 --> 0:16:53.880 lot of our friends in the pride community, this is 0:16:53.920 --> 0:16:58.120 really significant. I was sharing this with Lamine. When transgenders 0:16:58.160 --> 0:17:03.760 have the operation, they lose their credit history. It's like 0:17:03.920 --> 0:17:06.600 starting from scratch. A lot of people don't know that 0:17:07.119 --> 0:17:10.320 it's a new identity. You lose your past credit history. 0:17:10.400 --> 0:17:14.560 So stellars for everybody not know that. Ye say that 0:17:14.600 --> 0:17:17.360 fast next time you said transiendents have the surgery. They 0:17:17.400 --> 0:17:28.480 lose their credit history, credit history. Yeah, it's financially devastating. 0:17:29.280 --> 0:17:31.560 They don't keep their name when you when you make 0:17:31.600 --> 0:17:35.760 that name change and you make that gender gender identity, 0:17:35.560 --> 0:17:39.280 they lose their credit history. It's become it's become a 0:17:39.280 --> 0:17:41.879 b it's a big issue. You have the three major 0:17:41.920 --> 0:17:44.159 credit bureaus saying that they're trying to work on it 0:17:44.200 --> 0:17:47.080 and find other ways to get their identities. It's becoming 0:17:47.080 --> 0:17:50.480 a big legislative issue. And it happened. If anyone changes 0:17:50.520 --> 0:17:53.760 their name. It's not just a name. It's it's your gender. 0:17:54.240 --> 0:17:57.639 Oh wow, it's it's mostly the general. If you have 0:17:57.760 --> 0:18:00.360 bad credit, it could actually work in your favor. Well, 0:18:00.400 --> 0:18:03.439 no credit is no credit history. So you tell me 0:18:03.440 --> 0:18:06.800 when I if I transition. I know we talk about this, 0:18:06.960 --> 0:18:10.240 but me transition, yes, I know, yeah, I transition, you guys, 0:18:11.000 --> 0:18:15.880 credit history, yes? And what so the three major credit 0:18:15.880 --> 0:18:19.160 bureaus have tried to make that better. So now you'll 0:18:19.160 --> 0:18:21.919 have to go through um, you know, mountain of paperwork, 0:18:21.960 --> 0:18:24.920 cumbersome process that most people won't go through. But it's 0:18:25.320 --> 0:18:28.840 going to get some legislative attention. And that's just another group. 0:18:28.960 --> 0:18:31.040 You know, we have to empower ourselves and build credit. 0:18:31.080 --> 0:18:34.000 That's what stellar fies all about. It's for everybody, but 0:18:34.040 --> 0:18:37.560 these you know, marginalized groups as really I didn't know. 0:18:37.560 --> 0:18:40.080 You get a new benefit, you don't get a new 0:18:40.080 --> 0:18:47.160 sec you don't exist anymore according to the credit burea. 0:18:47.280 --> 0:18:50.359 You wow because you change your gender, but you have 0:18:50.400 --> 0:18:53.840 the same social because because credit is social, right, isn't it? 0:18:53.920 --> 0:18:56.280 She quit is much more than just so security number, right, 0:18:56.280 --> 0:18:59.320 SoC security number is just one little tiny attribute. And 0:18:59.359 --> 0:19:03.000 the way credit is looking at you holistically, they're seeing 0:19:03.040 --> 0:19:05.600 all kinds of different things. And when you like jumble 0:19:05.640 --> 0:19:09.560 it up by changing stuff, including your genders, it just resets. 0:19:09.560 --> 0:19:11.159 It's easier for them to be like, well, this is 0:19:11.200 --> 0:19:14.560 a whole new identity here. I never knew that. That's wow. 0:19:15.640 --> 0:19:17.879 What do you think about? I mean, if your credit 0:19:17.920 --> 0:19:20.400 is messed up, that's smart. No, it's not because bad 0:19:20.600 --> 0:19:22.560 no credit is worse than bad credit. So you have 0:19:22.600 --> 0:19:26.560 no credit. Ever, Yeah, it's like you're starting over. Interesting, 0:19:26.840 --> 0:19:28.800 No one's gonna lend you money, right because I don't know. Yeah, 0:19:28.840 --> 0:19:32.360 you got to rebuild everything and you have no history. Now. 0:19:32.480 --> 0:19:35.440 Let mean so this is basically like, okay, so if 0:19:35.440 --> 0:19:37.680 you have to describe what Stellar Fire is, is it 0:19:37.720 --> 0:19:40.480 like a loan that you're paying, Like, how does that work? 0:19:40.560 --> 0:19:43.439 Because you're giving the money that's paying it, and then 0:19:43.440 --> 0:19:45.159 you're taking the money from the bank account, so it 0:19:45.160 --> 0:19:48.520 looks like you're making payments on that's right. Okay, it's 0:19:48.560 --> 0:19:50.440 not alone, right, So I want to be very clear 0:19:50.480 --> 0:19:54.199 about that because it's important too. There are credit builders 0:19:54.200 --> 0:19:56.600 out there that give you a loan and you sometimes 0:19:56.680 --> 0:19:58.600 like it's secured loan, you put some money down because 0:19:58.600 --> 0:20:01.000 it don't trust you, and so and then it created 0:20:01.000 --> 0:20:03.760 this fake loan on the back end. We don't do that, right, 0:20:03.800 --> 0:20:06.040 So what we do is we, you know, when we 0:20:06.160 --> 0:20:09.240 make those advances, when we pay your bills, we then 0:20:09.359 --> 0:20:11.879