How to Build Your Credit

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 20 April 2009

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

As many of you are aware, I have been harping on how low mortgage rates have been over the past few months and how much of an opportunity we all have to lock in a long-term low interest rate right now. So let us assume you have decided to heed my advice, gotten all of your ducks in a row, and have gone to the bank or mortgage lender to negotiate a refinance. BAM! They offer you a refinance somewhere between 5.5% and 6.5%. But, but, but.... Brian, I thought you said mortgage rates were around 4.5% to 5%? For more of this story, go to http://www.moneyguy.com/2009/04/how-to-build-your-credit-score Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:07.0	investing, taxing.
0:09.0	You've got financial questions, he's got financial answers.
0:12.6	It's Brian Preston, the money guy.
0:15.1	A few shows back, I told you guys, it was a great time to be refinancing because all
0:20.2	time, low interest rates because the government's artificially holding down those rates because
0:24.6	they're trying to encourage all of us to go out there and buy some real estate.
0:28.1	Well, a sidebar to that is, I feel like I've never done a show focusing on really your
0:33.5	FICO score and what your credit score means to you, I've talked about how to get your
0:38.3	credit report and how you need to pay attention to that.
0:40.8	But I feel like it's time that we actually paid a little attention to actually how to
0:45.4	build credit for younger people, what goes into your credit score, and then also how you
0:50.2	can find out how to get your credit report completely free of charge because you are entitled
0:54.9	to receive that.
0:56.4	All in today's show on the money guy, and that's right, you are here listening to the
0:59.9	money guy show.
1:00.9	I'm your host, Brian Preston.
1:01.9	By day, I'm a fee-only wealth manager on the south side of Atlanta.
1:05.6	I'm a certified public accountant, a certified financial planner, and a Nattho registered
1:11.0	advisor, meaning that I'm a member of the organization that is the National Association
1:16.2	of Personal Financial Advisors, also known as the fee-only organization.
1:20.3	We're the ones that you hear a lot of people talking about car-coured and so forth, talking
	...

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