Credit Score Tips and Myths – Amberly Grant | MHFI 181
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 instit
Mile High FI Podcast · Doug Cunnington & Carl Jensen
Audio is streamed directly from the publisher (episodes.castos.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
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!
Links
- Entrepreneurship: From Mac & Cheese to Fintech | MHFI 166 (Intro to Nexus banking)
- Nerd Wallet tips: “How to Improve Credit Fast”
- Lauren & Steven, Trip of a Lifestyle
- Steven Keys (Trip of a Lifestyle) on The Doug Show
- Doug’s site
- Carl’s blog: 1500 Days
Connect with Amberly Grant!
—
Join the Mile High FI Club – It’s our email list!
Get MHFi Merch – It helps support the show. Get t-shirts & more
**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.**
Brought To You By:
The Doug Show, aka Affiliate Marketing & Side Hustles
1500 Days, Carl’s Blog about Early Retirement
Email us here: [email protected] or [email protected]
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