Everything You Need to Know About Credit: Build Credit, Credit Cards, Child Credit & Business Credit

In this eye-opening episode of Earn Your Leisure, we had the pleasure of interviewing Shonda Martin, an expert in personal and business credit. Shonda delves into the intricacies of building a robust credit profile, sharing invaluable advice and strategies that go beyond just the numbers. Tune in as we cover essential topics including:

The significant role of personal credit in business credit development.
Effective ways to handle late payments on your credit report.
Why a healthy credit profile matters more than your credit score.
Achieving financial flexibility with a 680 credit score.
The risks of co-signing and how it affects your credit.
Regularly boosting your credit limit for financial health.
The impact of student loans on your credit score.
Understanding the true nature of credit card usage.
Strategic payments to enhance your credit score.
How high credit card balances can lower your score.
The right time to start building your child's credit.
Common parental mistakes in managing their child's credit.
Knowing when and why to close a credit card.
The optimal age for adding your child to your credit card.
Steps to building a strong credit profile.
Key FICO scores to be aware of.
Solutions for managing credit card debt.

Don't miss out on these crucial insights that could transform your financial journey. Whether you're repairing, building, or maintaining your credit, Shonda's advice is a game-changer.

#EarnYourLeisure #CreditTips #FinancialFreedom #CreditScore #PersonalFinance #BusinessCredit #CreditRepair #FICO #DebtManagement #financialeducation

0:00 Intro
1:22 Shonda’s Start with Credit Repair
3:17 FICO’s Credit Certification
4:52 The 3 Main Credit Bureaus
7:17 Factors that Affect Credit Score
10:33 How Credit Utilization Works
11:49 First Step to Building a Healthy Credit Profile
15:12 How to Effectively Use Credit Cards
17:51 When to Ask For a Credit Limit Increase
19:58 How to Avoid Pitfalls
21:52 Establishing Credit at a Young Age & Authorized Users
28:50 What Credit Score Should Everyone Aim For?
31:49 Credit Myths
34:30 How to Challenge your Credit Report
37:55 How Long Late Payments Stay on your Report
40:27 Common Co-Signing Mistake
42:41 Credit Consolidation Explained
45:22 Any Credit Score can be Fixed
47:00 How Rising Student Loans will Affect our Future Credit
49:27 Options For Dealing with Bad Credit
55:36 Business Vs Personal Credit
1:00:14 How Many Credit Cards Should You Have?
1:01:47 How Often Should You Check Your Credit?
1:03:24 How Shonda Teaches Credit Repair
1:04:39 Outro