Credit Bureau Expert Gives Insider Advice on Building Credit
Laura interviews Rod Griffin, Experian’s director of public education, about a variety of important topics that will help you build and maintain excellent credit. You’ll learn how to build credit from scratch, the right amount of credit to use, whether you should work with a credit repair company, what to do when you’re the victim of fraud, and much more.
Laura Adams, MBA
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Credit Bureau Expert Gives Insider Advice on Building Credit
Rod Griffin works for one of the nation’s three credit reporting agencies. As Experian’s director of public education, he understands the credit industry better than just about anyone I know.
He’s even had his own personal credit challenges, like becoming the victim of tax fraud. In this interview he tells that story and gives great advice about how consumers can build credit wisely.
[Listen to the interview using the audio player in the upper right sidebar of this page or on iTunes, Stitcher, and Spotify; for Spotify, just search the app for “Money Girl.”]
We cover the following topics:
- Tips to build credit from scratch if you’re just starting out, are recently divorced, or are recovering from a financial disaster
- How to manage credit utilization on different types of credit cards so you maximize your scores
- Whether it’s possible to “game” your utilization ratio by making early payments
- How no preset spending limit credit cards affect your credit file and credit scores
- If there’s a good reason to use a credit repair company and how to protect yourself from bogus promises
- Actions to take if you suspect or know that you’ve been the victim of credit fraud
- How credit reporting works when you relocate outside of the US
Free Resource: Credit Score Survival Kit–a multimedia tutorial with strategies to build and maintain excellent credit for life. The kit includes a video, ebook, and audiobook download.
People often overthink credit reporting. The key is having common sense, paying bills on time, and keeping balances low. If you do that your scores will take care of themselves.
- — Rod Griffin
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About the Author
Laura Adams received an MBA from the University of Florida. She’s an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura’s previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.