- Credit report vs. credit score: We talk about the difference between reports and scores and how they relate to one another.
- Ways you can build good credit, even if you are just starting out.
- What credit utilization is, how it’s calculated, and why it’s important to your credit score.
- Why it’s important to keep your credit utilization below 30%.
- How long it takes to improve your credit.
- When creditors report a payment as late.
- How to resolve errors on your credit report.
In this episode I mention the following resources:
- Experian’s $1 FICO Score Offer
- Experian online dispute process
- What is your state of credit?
- Vantagescore white paper (pdf)
Q (Perry): “So when you use 0% card offers to pay off your credit card debt and you have them paid off then what do you do with that card? If you close them it damages your credit but if they are open then the available credit goes against you as possible debt. So, what’s worse? Closing them or letting them linger? Is there a good time to close them – like yearend vs mid-year?”
We cover this news story today about investing in 2014.
Day 12: How to get out of debt