The Clark Howard Podcast 02.05.25 Credit Score Perfectionism / When Travel Goes Awry…
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Feb 5, 2025 Many aim for a perfect credit score, but it's often unnecessary—aiming for 760-780 is more realistic. Learn how to manage your credit effectively and what to do about missed payments. When travel plans go awry, having strategies in place is crucial. Discover tips for handling cancellations and the best ways to advocate for yourself with service reps. Finally, explore smart strategies for booking affordable flights and using hotel points efficiently, ensuring your travel experience is as smooth and budget-friendly as possible.
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Credit Score Goals
- Track your credit score regularly to understand its trend.
- Aim for a FICO score above 760, as a perfect 850 isn't necessary for most lending.
Handling Missed Payments
- Don't rely on mailed statements; check credit card balances online regularly.
- A single missed payment significantly impacts credit scores, but it recovers over time.
Credit Card and Car Loans
- Getting a credit card can boost your score, but applying lowers it initially due to the hard inquiry.
- Consider the timing of a car loan application, as a new card might briefly lower your score.