Do you know what ACTUALLY impacts your credit score? How much does your score REALLY matter? What should you do to raise your score — and what should you avoid?
In this episode of the show, we bust some very common but total misconceptions around what goes into your credit score and how to maintain a score in the highest range.
We also talk about the facts for the best way to manage your credit so you can secure the best interest rates when it’s time to finance a purchase.
- What factors determine your score
- When it’s a GOOD idea to close a credit card account
- The surprising things that can hurt your score that people usually don’t think about
- Good credit habits to maintain
- Why credit card points might not be all they’re cracked up to be (and how to make the most of credit card rewards without shooting yourself in the financial foot over them)
…and more. Join us in this conversation to reveal the truth and bust the myths that commonly surround what we think about our credit scores.
Jump into the episode here:
Further Reading & Resources from the Show
- Get the breakdown of how your FICO score is calculated.
- Learn more about other scoring systems, like the VantageScore.
- Need to check your credit score? Credit Karma can provide a general idea, but you might want to see if your credit card company includes this on your monthly statement.
- Sites like Credit Karma may not provide your FICO score, which is the one that lenders look at, whereas credit card companies and banks may provide your FICO score with statements or upon request.
- Don’t confuse credit score with credit report! You can pull your credit report for free once every 12 months from AnnualCreditReport.com — and it’s good practice to do so. When you get your report, review it for errors and signs of fraud to protect your creditworthiness.
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