Understanding Credit Scores and How To Increase Your Score

Welcome to the second video in my "Beginner’s Guide to Credit Cards" series! If you're curious about what a credit score is and how you can give yours a boost, you're in the right place. Let's dive in and demystify credit scores together!

Today we're breaking down a credit score and why it's a big deal for your financial health. This video is specifically for American's who have to live in this hellscape of credit scores. If you have a low credit score, don't worry! I'll also share a few ways to help increase your credit score so you can have access to lower interest rates, more rentable apartments, and much more!

If you're just starting out, this video will help you understand the basics and build your credit responsibly. And if you're looking to improve your credit score, I offer practical advice for those aiming to raise their score.

• TIME CODES •
0:17 - week one overview
0:46 - this history of credit scores
1:18 - what is a credit score?
2:03 - how are credit scores maintained?
3:10 - how our credit scores calculated?
6:29 - ways to improve your credit score

About my "Beginner's Guide To Credit Cards" series:
This is your ultimate resource for understanding and mastering the world of credit cards! This series is designed to give you all the knowledge you need to make informed decisions and use credit cards to your advantage.

• VIDEO MENTIONS •

•BUDGET PLANNERS•

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[davidknicks]

I really like these credit related videos you have been doing. Keep doing

[alexismacedo]

I feel like I’m in economics class.. but actually helpful, applicable, and not fear based financial information

[bringitdanielle]

Love this segment! I enrolled in a debt consolidation program. Started in November, ~230$ a month, first CC should be paid off this month. ~5600$ to ~2300$ the fees and etc came out to ~4600$. So I didn’t cut in half but I did pay off earlier. So that’s a win. I have another CC to pay off. Hopefully that’ll be resolved by the end of the year!

[SwimGoood]

As a swede living in Sweden.. we do have a credit score system here aswell but not at all to the extent that you have. It's mind-boggling how things works in the US sometimes. Even though this series isn't directly aimed towards me, I can still truly appreciate a video like this. The time and effort you put into your videos Aja 👌👌👌

[nehcniloj]

I love this timeless series and learned a lot

[eeezy]

Loving this series - it's super informative as I am someone who has stayed away from credit cards my whole life, and am now trying to take better care of my financial life (your videos help). How often do you recco checking in on your credit scores versus credit reports?

[briannawilliams]

I really appreciate this series. I'm in my late 20s and have been steered in the opposite direction of credit cards due to a lack of familial financial literacy, but your delivery is pretty straightforward and I'm looking forward to building a better understanding. When you said that only certain info is passed on to the big three (student loan &mortgage payments) does that mean that smaller bills like cell phone or spotify should be debited instead?

[Lauren_Duarte]

So helpful but can you please go into what a hard inquiry is? Is using a platform like credit karma to check credit scores considered a hard inquiry? Thanks!

[alfredmachacon]

Hi Aja, is there a way for delinquent payments that are reported to be expunged?

[deltonsr]

Its annoying cause if all of three credit bureaus get the same info then why is all three scores different. I think it should be one bureau because too many things effect the score and when you apply for credit most use the one with the lowest score and missing one payment in 9 years shouldnt make you unworthy.

[MayAstrid]

From a French point of view, the concept of credit score isn't that bad, it's the application that is terrible. When you apply for a loan in France, they check stupid things like your age, job, weight (yes) and if you don't fit the box then you have nothing or a higher interest rate... At least a credit score is more neutral and shows how you would behave with a loan but the way you get that score is bs.