#14: The credit score is the metric for how borrower creditworthiness is judged.
In episode 14, I talk with Louis DeNicola a consumer credit expert and credit writer who works with clients including Experian, Credit Karma, LendingTree, and Nova Credit.
What you’ll learn in this episode:
- How credit scores are calculated and how each major component is weighted
- Why credit scores fluctuate constantly and how lenders and card companies often use proprietary credit scoring models internally
- How to increase and protect your credit score
- What to focus on when auditing your credit report
- The difference between soft vs. hard inquiries and how each impacts your credit
- The optimal “utilization” level (plus a hack for making your utilization appear low)
Links mentioned in this episode:
Intro/Outro: Old Bossa by Twin Musicom.