102: Understanding Credit Score and Comparing the Best Credit Cards

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Business, Investing

4.8 • 518 Ratings

🗓️ 28 August 2018

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Ted Rossman is an Industry Analyst at CreditCards.com and writes the "Wealth and Wants" column. He has seven years of experience in the credit card and personal finance industries as a member of the award-winning communications department at CreditCards.com and its sister sites, The Points Guy and Bankrate.

During the episode, Ted gives away the tricks and tips in choosing the perfect credit card that will suit your lifestyle. Since credit cards are used by most of the people, understanding its use is of great benefit. He explains how credit score works and what its associations are. He also helps us understand the credit points, reward redemptions, and credit bonuses for different people with different needs. This is surely an episode we all can relate to!

Links:

CreditCards.com

Where we are:

Sam - Tampa, Florida
Johnny FD - La, California
Ted - New York City

Time Stamps:

05:13 – How he got involved in the Credit Card Industry
07:33 – The impact of applying more credit cards to your credit score
10:50 – Tricks in improving credit scores
103:36 – Negative information and its impact on credit score
15:42 – Monitoring credit report
19:34 – Best credit score
21:02 – Major considerations in choosing a credit card
22:23 – Reward redemption and credit points
31:18 – Point redemption and bonuses
39:33 – Cards for travelers
41:23 – Matching your cards to your lifestyle
47:30 – The Best card with no annual fee
52:45 – Improvements and trends in the credit card industry
56:11 - Juggling multiple credit cards
57:13 - Priority Pass hacks
01:01:00 - Riding Bird Electric Scooters in LA
01:02:54 - Flying from credit card points and flyer miles
01:04:44 - What credit cards are in Johnny FD's and Sam wallet?
01:08:28 - Going down 100 points on Sam's credit score

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Transcript

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0:00.0	Welcome to the Invest Like a Boss podcast. I'm Sam Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.
0:09.0	Join us each week for exclusive interviews with our network of modern investors, business owners and multimillionaires to discover new ways to invest our hard-earned cash.
0:18.7	Hey guys, it's Johnny and welcome to episode 102 of the Invest Like a Boss podcast. I am finally back in
0:26.5	California in Los Angeles and Sam is back and his home in Tampa, Florida. Yeah, man.
0:33.0	It's not too often that we are both in Estados, Unitos together.
0:39.1	It is very unlikely for both of us to meet America at the same time.
0:43.2	So too bad.
0:44.6	We're not going to be able to meet up.
0:46.8	You're on the other side of the country.
0:49.2	East Coast.
0:50.3	East Coast.
0:51.5	East Coast rivalry.
0:52.5	I was just in California last week, so we just missed each other.
0:56.0	I was actually where you are, San Francisco.
0:58.0	I'm in LA.
0:59.0	Oh, man.
1:00.0	Same same, right?
1:01.0	I will be in San Francisco.
1:02.0	I don't know our West Coast geography.
1:04.0	Yeah.
1:05.0	Oh, New York, Alabama, same thing.
1:08.0	New York, Miami, yeah, somewhere there.
	...

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