In this episode, Mike discusses credit scores and credit card statements. He explains the components of a credit score, including payment history, utilization, average credit length, new credit, and credit mix.Episode Time Stamps:00:00 Intro and the basics00:57 Components of a Credit Score02:21 Payment History and Utilization02:49 Average Credit Length and New Credit04:17 Credit Mix04:46 Understanding Credit Card Statements06:38 Payment Due Date and Interest07:34 Importance of Making Payments on Time08:33 Managing Credit Utilization09:28 Strategies for Low Credit Utilization12:22 Strategies for Average Credit Length13:44 Keeping Oldest Credit Card Open16:36 Improving Bad Credit20:28 Increasing and Decreasing Credit LimitsKeep Up With Daily Drop:Read the newsletter: https://www.dailydrop.com Join the Lounge: https://www.facebook.com/groups/dailydroplounge Check out our top cards: https://dailydrop.com/pages/our-top-credit-cards Follow along on Instagram: https://www.instagram.com/dailydrop/ Hang out on YouTube: https://www.youtube.com/@DailyDrop Prefer a video podcast? Head over here: https://www.youtube.com/@DailyDropPodcast