242 – Spotting Bad Credit Advice on the Internet

242 – Spotting Bad Credit Advice on the Internet

Author: Doug Hoyes April 20, 2019 Duration: 30:38

There is a lot of bad credit and debt advice out there.  We see it on YouTube, and Twitter, and Reddit, and in personal finance blogs.  And it seems that one of the most popular areas to give bad advice is on how to improve your credit score.

So, today, Scott Terrio and I are going to share and debunk the bad advice you can get on the internet for improving your credit score.  Some of the bad advice we discuss:

  1. Raise your credit limit
  2. Have many credit cards
  3. Have a 30% utilization on all of your credit cards
  4. Don't pay off your credit cards early
  5. Show credit growth – get a new card every few months
  6. Take out longer loans
  7. Start getting credit cards as a student

Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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607 – Credit Score vs Cash Flow: What Actually Matters in a Crisis? [not-audio_url] [/not-audio_url]

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