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 basics
00:57 Components of a Credit Score
02:21 Payment History and Utilization
02:49 Average Credit Length and New Credit
04:17 Credit Mix
04:46 Understanding Credit Card Statements
06:38 Payment Due Date and Interest
07:34 Importance of Making Payments on Time
08:33 Managing Credit Utilization
09:28 Strategies for Low Credit Utilization
12:22 Strategies for Average Credit Length
13:44 Keeping Oldest Credit Card Open
16:36 Improving Bad Credit
20:28 Increasing and Decreasing Credit Limits
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