Rich Girl Roundup: How Does Credit Work?

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 17 April 2023

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Understanding credit can be tricky—but it's an invaluable part of our financial toolboxes since it affects our ability to buy a home, access loans, etc. Katie and Henah break down the history of credit, how it works, tips to keep in mind while building your credit score, and more. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. - Mentioned in the Episode Consumer Finance statistic on 26M Americans being credit invisible: https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-finds-26-million-consumers-are-credit-invisible/ How Your Credit is Calculated: https://www.equifax.com/personal/education/credit/score/how-is-credit-score-calculated/ Annual Credit Report: https://www.annualcreditreport.com/index.action Credit Karma: https://creditkarma.com/ How to Save for Your Child's Future: https://link.chtbl.com/u7JzWqOz - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Rich Girl Roundup!
0:06.0	Yeah, I guess there is one other thing that you said that I want to circle back too.
0:14.0	Circle back too. I'm sorry. I'm so sorry everybody.
0:18.0	Oh no.
0:19.0	Welcome back Rich family to the Rich Girl Roundup weekly segment of the Money with Katie.
0:25.0	Show.
0:26.0	I'm your host Katie Addy Tossan and every Monday, Hannah and I are going to engage in an interesting money discussion debate.
0:33.0	These episodes are going to continue to hit your feeds on Mondays, so thank you so much for deciding to start your week with us.
0:40.0	Here is a quick message from our sponsors before we get into it.
0:50.0	Okay, on to the Roundup. Hannah, pulse check. How we doing?
0:53.0	We're good. I graduated from the big over the head earphones to these in ear ones, so I feel like I've made it.
0:59.0	I feel like Lizzie McGuire in the Lizzie McGuire movie where she's like sing to me, Palo.
1:04.0	There's a niche reference.
1:06.0	I was just going to say we're starting strong with our early 2000s lore.
1:11.0	Hey, we have a Millennial audience and we are two Millennial.
1:14.0	I could read this excursion if you'd like.
1:17.0	Go for it.
1:18.0	It's from Rachel B and they wanted to know how credit works, whether it's okay to close old cards and what should we know about credit utilization.
1:28.0	So I think this is a really, really interesting topic.
1:31.0	Mostly because I learned in the last couple of years that credit scores weren't a thing really before 1989, which is not that long, not that long ago at all.
1:41.0	No, that's not that long ago.
1:44.0	I just when you said they weren't if that was just imagining like a bunch of cavemen like looking at their fight of scores.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Money with Katie, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Money with Katie and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.