Payment history, amounts owed, length of credit history, types of credit, and new credit established are all components used in the calculation of your credit score. Due in part to predatory lending and lack of proper education, credit has gotten a bad reputation; however, when used properly, credit can be a very useful tool. Credit can be used during the application process for employment, when determining insurance rates, and even when seeking approval for renting.
In the latest episode of Wallet Watch, our hosts discuss credit, common misconceptions, and even some tips on making credit work for you. If you’re interested in how a credit score is calculated and what it is used for, then this episode is for you.
Do you want transcripts for any of our episodes? Email us a request at [email protected]
Transcripts offer an excellent way to have a copy of the tips and topics we cover in each episode.
Also, we have a contest! All you have to do is comment under one of the Financial 4.0 social media posts for this episode to receive an entry for Season 3. Be sure to tag a friend. Look for more episodes from this season for opportunities for additional entries.