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!

AmberlyGrant.com
FinTalks
Instagram
Facebook

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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.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

1500 Days, Carl's Blog about Early Retirement

Email us here: doug@milehighfi.com or carl@milehighfi.com

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