Podcast Details:

Podcast Title:  Protecting, Maintaining and Enhancing Your Credit
Podcast Series: Financial Literacy Boot Camp
Full Illustrations available on YouTube Version here.


Questions/Issues We’ll Address on this Episode:

Protecting –Understand the FCRA.  This allows you free access to your credit reports to check the details.

Maintaining – Get identity theft protection and look at it as an insurance product.

Enhancing – You have to know the formula.  YOu also have to understand what the formula is designed to portray or illustrate.  The Formula – 35% payment history; 30% amount owed; 15% length of history; 10% type of credit accts; 10% new accounts.  The Formula’s purpose is to convey how well you borrow and pay back money.  So if you are a cash buyer and don’t believe in debt then your FICO score will likely be low.  It doesn’t reflect your level of income to debt or assets–so don’t look at it that way.

Helpful Links:

Blog Article on Credit

NumberSense by Kaiser Fung

Check your credit report for free

PIRG Report

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Dominique is owner of DJH Capital Management, LLC. a full service, comprehensive financial planning firm helping individuals build roadmaps to reach their financial dreams.

© 2017 DJH Capital Management, LLC.

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