Deep Dive on Credit Reports, Scores, and Their Real-World Impact
All the Hacks with Chris Hutchins
Intro
This chapter delves into the significance of credit reports and scores in securing loans, jobs, and managing expenses. It outlines their historical evolution and offers practical tips for managing personal credit health.
#221: The ultimate guide to credit reports and scores—how they’re calculated, what affects them, and proven ways to improve them. Specially, I'll cover how opening lots of credit cards impacts your credit. You'll also learn how to check your credit reports and scores for free, dispute errors, understand lender scoring models, protect your financial health, and more.
Link to Full Show Notes: https://chrishutchins.com/credit-reports-credit-scores
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Resources Mentioned
Credit Bureaus
Free Credit Report: AnnualCreditReport.com
Credit Monitoring: Credit Karma | Experian
Credit Reporting Agencies
- Innovis
- Chex
- Clarity Services
- National Consumer Telecom & Utilities Exchange
- Early Warning Consumer Report
- LexisNexis
Free FICO Scores: myFICO | Experian
X Post on Couple’s Credit Card Journey
International Credit Data: Nova Credit
Business Credit Scores
Business Credit Data: Small Business Financial Exchange
Article: Understanding Business Credit Scores
ATH Podcast
- Ep #78: Action List: Everything You Can Do To Protect Your Identity, Accounts, Credit and Family
- Leave a review: Apple Podcasts | Spotify
- Email for questions, hacks, deals, and feedback: podcast@allthehacks.com
Full Show Notes
(00:00) Introduction
(02:03) Quick Background of the Credit Report Industry
(04:54) What’s on Your Credit Report
(06:45) Soft vs. Hard Inquiries
(10:04) How to Request Your Credit Report for Free
(10:59) Filing for Disputes
(12:37) Freezing Your Credit, Fraud Alerts, and Credit Monitoring
(18:46) Credit Reporting Agencies
(24:06) How to Remove Your Personal Information Online
(26:24) Quick Overview of Credit Scores
(29:36) How Credit Scores Are Calculated
(35:33) FICO Score vs. Vantage Score
(38:12) Upcoming (Big) Changes to Credit Scores
(40:27) Where to Find Your Credit Scores
(42:00) Analyzing Chris' Credit Scores
(46:59) Two Main Factors That Impacted Chris’ Credit Score
(48:58) How the Points & Miles Game Impacts Credit Scores
(53:12) The Impact of Closing a Credit Card
(56:36) Ways to Improve Your Credit Score
(59:21) Adding an Authorized User to Your Credit Card
(1:01:59) How to Leverage Your International Credit Score
(1:02:53) Quick Overview of Business Credit Scores
Connect with Chris
Newsletter | Membership | X | Instagram | LinkedIn
Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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