With an Indian background, Danny Singh was the first in his family to be born and raised in Orlando, Florida; by his mother and grandparents. Danny’s mother, Rita, purchased her own house in 2001, moved in with Danny. She began working longer hours at two jobs, so she could manage all the expenses. Due to the limited availability of Rita, Danny could not be fully dependent upon her.
For this reason, in 2003, Rita added Danny, as an authorized user, on her account and gave Danny his first credit card, at the age of 11; thus beginning his financial journey. Danny knew very little about credit cards and only used his credit card; to purchase food, supplies for school, necessities he needed, and gifts for his mom; during his younger years. He would always make sure his credit card was with him in his pocket. Danny admits to purchasing items he always desired, such as, Yu-Gi-Oh Cards, movies, comic books, Slurpee’s at the gas station, and items kids would want. He loved the spending power of the credit card.
Unexpectedly, Rita started becoming increasingly busy on her jobs. She began calling Danny; asking him to open the mail and make sure the credit card bill was getting paid. She expressed; if the credit card bill was paid late, it would ruin her credit. Danny did not know what credit was, but he did not want to see his mother stress. While handling his academic responsibilities; he maintained her credit card, by signing online and using her checking account. As he began reading all of his mother’s mail, although he could not understand everything; interest started provoking him as he began getting involved with other financial aspects of the household. Danny began reading the terms and conditions of the credit cards and the fine print, on the bills. This led him into reading more about credit on the Internet. He started asking his mother, grandfather, or the customer service credit managers; questions or misconceptions he had about credit.
Danny began wanting to handle the utility bills, mortgage, insurance, other credit cards (he was not using), and any other bill that his mother was expected to pay. Danny wanted his mother to give him full authorization, to all the companies; so they would release any account information to him, if needed. With this type of authorization, he would be permitted to make account changes, if needed, when calling customer service. Danny’s mother was skeptical, at first, but trusted Danny; given the fact that he was never late on paying the credit card he was using.
Rita added Danny to all her accounts. They were discrete; about Danny’s financial life. Danny has had many financial successes including: getting the annual fees removed from several of his mother’s credit cards, refinancing the mortgage and car, getting over $1300 in interest refunded from a credit card company, having interest rates reduced on all loans, increasing the credit limits on accounts so his mother’s credit scores could increase, and ensuring that no deposit accounts were becoming negative; at just 14 years of age.
Danny managed to get her car and house insurance costs reduced; while maintaining the same coverage. He removed a delinquency from his grandmother’s credit report; which caused his grandmother to be denied credit. Danny was able to get his grandmother’s credit application approved. When Rita’s bank account information was stolen and numerous fraudulent charges occurred; Danny was able to get all the charges refunded. He also reported the phony business, to the Better Business Bureau and Complaint Board; so other consumers would not be scammed. Seminole County commissioner, Bob Dallari; Florida House District 33 representative, Jason Brodeur; Texas governor, Rick Perry; First Lady Anita Perry, Senator Marco Rubio, and several news stations recognized Danny; referring to him as a “financial whiz kid.” In 2011, Danny graduated with honors from the International Baccalaureate program of University High School.
To this day, Danny has developed about eight years of financial experience, with many different financial institutions managing all the financial aspects of his mother’s house and has never been late, even by a day, on several credit cards or any bill. Proudly, Danny is part of the Art & Phyllis Grindle Honors Institute, at the Seminole State College in Florida. Danny is working towards earning a Bachelors of Science degree, in Business Administration, with a concentration in Finance and a career certificate in Project Management. Later, he hopes to earn an MBA and Ph.D., in Finance, from an Ivy League school. By doing financial seminars, running a financial tips website (www.facebook.com/studentsfinance), and his independent and non-profit credit advising agency; Danny encourages others that bankruptcy, debt settlements, being late, or not paying the bills are never solutions and success can only be achieved, with a powerful credit history.