Doug and Amberly talk all about credit, from tips for higher credit scores to tackling common myths via a game of True/False. Doug also discusses his own experience with foreclosure and how his credit was impacted.
- Doug’s distrust of banks/large institutions. Amberly’s view of the credit system as a necessary evil.
- Explanation of credit scores & ranges.
- Tips for a higher credit score:
- Become an authorized user
- Pay your bills on time
- Dispute anything wrong on your credit report
- Pay off collections
- Use a secure credit card
- Strategically paying credit cards
- Ask for higher credit limits
- Apply for new credit cards
- Add to your credit mix
- Doug’s foreclosure experience and impacts to his credit score.
- Credit score game:
- True or False. When buying a house you cannot shop around for loans because each time you shop you get hit negatively on your credit score.
- True or False. You can’t improve your credit score if you have bad credit.
- True or False. Carrying a balance on your credit card will improve your credit score.
- Should you close old credit cards to improve your credit score?
- True or False. Churning would lower your score to a level that negatively impacts it.
- True or False. 0% credit cards are free interest for one whole year.
- True or False. If you miss a payment on your credit card they report it to the credit bureau right away.
Looking to boost your credit score? If so, head on over to
Buy Me A Coffee. We doubt the official credit bureaus will even notice, but in our eyes you'll have a perfect score!
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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice.
We aren't certified financial planners or advisors. We're not qualified for much.
So get advice from professionals.**
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0:00 Introduction
7:50 Thoughts on credit
12:50 Credit scoring
20:10 Tips for a higher credit score
31:22 Foreclosure & credit impacts
41:24 Credit score game
53:53 Support the show?
59:40 Soundcheck - Sushi
Do you like the podcast and want to support the show? Follow the links to find out how:
https://buymeacoffee.com/milehighfi
Get MHFi Merch – It helps support the show. Get t-shirts & more
[email protected]
**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**
