3187: Should You Get a Car Loan to Improve Your Credit Score? Heck No! by Paula Pant of Afford Anything

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🗓️ 22 June 2025

⏱️ 12 minutes

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3187: Paula Pant unpacks the surprising realities behind auto loans and credit scores, showing why taking on debt just to improve your credit can backfire. With clear insights into how credit scores are calculated, she explains smarter, debt-free ways to boost your score without falling into the trap of unnecessary borrowing. Read along with the original article(s) here: https://affordanything.com/will-getting-car-loan-improve-credit-score-heck/ Quotes to ponder: "Debt should be used to solve problems, not to game a number." "The credit score was never designed to be a symbol of financial success." "A credit score is a measure of how good you are at managing borrowed money, not how wealthy or financially responsible you are." Episode references: Annual Credit Report: https://www.annualcreditreport.com/index.action Consumer Financial Protection Bureau - Understanding credit scores: https://www.consumerfinance.gov/ask-cfpb/what-is-a-credit-score-en-315/ MyFICO: https://www.myfico.com/credit-education/credit-scores Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the year 2000.
0:02.8	Everyone, everywhere, is having fun, except me.
0:06.6	On BBC Eye Player.
0:08.0	I worry you're growing up too fast.
0:10.6	Yeah, we can't be your little ducky forever, can I?
0:13.0	Inspired by a true story.
0:14.8	Walk out of this house a boy, one day you'll come back.
0:17.8	When you do, you will be a man.
0:20.2	I won't hold your breath. What it feels like for a girl. I wish I could look like you. come back. When you do, you will be a man. Oh, and hard your breath. What it feels like
0:22.4	for a girl. I wish I could look like you. Beva, you can. Why don't you? Watch on BBC I
0:28.5	Player. Hi, this is Ava from Vanta. In today's digital world, compliance regulations are changing
0:35.9	constantly, and earning customer trust has never mattered more.
0:40.0	Banta helps companies get compliant fast and stay secure, with the most advanced AI automation and continuous
0:46.3	monitoring out there. So whether you're a startup going for your first SOC 2 or ISO-27,01, or a growing
0:52.2	enterprise managing vendor risk.
0:56.2	Banta makes it quick, easy, and scalable.
0:58.1	And I'm not to say that because I work here.
1:00.2	Get started today at banta.com.
1:03.3	This is Optimal Finance Daily.
1:06.3	Should you get a car loan to improve your credit score?
1:07.4	Heck no.
1:10.4	By Paula Pant of Afford Anything.com.
	...

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