September 22, 2025 • 13 mins
How often do you think about credit? Margaret is a dancer, a dreamer, and totally new to credit. She’s been denied twice for credit cards in the past, and we’re here to help. Stay tuned for our first episode of Foundation Forward, premiering on Hulu.
Our Sponsors:
* Check out PNC Bank: https://www.pnc.com
* Check out Square: https://square.com/go/eyl
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
This episode is brought to you by P and C Bank.
A lot of people think podcasts about work are boring,
and sure they definitely can be, but understanding a professionals
routine shows us how they achieve their success little by little,
day after day. It's like banking with P and C Bank.
It might seem boring to safe plan and make calculated
(00:21):
decisions with your bank, but keeping your money boring is
what helps you live or more happily fulfilled life. P
and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
Boring since eighteen sixty five is a service mark of
the PNC Financial Service Group, Inc. P and C Bank
National Association Member FDIC Erness What's Up? You ever walk
(00:45):
into a small business and everything just works like the
checkout is fast, the receipts are digital, tipping is a breeze,
and you're out the door before the line even builds.
Odds are they're using Square? We love supporting business is
that run on Square because it just feels seamless. Whether
it's a local coffee shop, a vendor at a pop
up market, or even one of our merch partners. Square
(01:08):
makes it easy for them to take payments, manage inventory,
and run their business with confidence, all from one simple system.
If you're a business owner or even just thinking about
launching something soon, Square is hands down one of the
best tools out there to help you start, run and grow.
It's not just about payments, it's about giving you time
(01:29):
back so you can focus on what matters most ready.
To see how Square can transform your business, visit Square
dot com, backslash, go backslash eyl to learn more that
Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.
Let's Square handle the back end so you can keep
pushing your vision forward. How often do you think about credit?
Speaker 2 (01:55):
That's a good question, the.
Speaker 1 (01:57):
Why, the how, the pitfalls, the benefit. I'm Troy Millions
and together with my partner Rashad Balau, we have been
financial educators under the Earnerlesiah Banner, and in this series
we've partnered with Chase Freedom Rise to talk to the
next generation about credit and confidence and specific steps to
building something real. This is Foundation Forward Episode one, How
(02:23):
to Overcome Credit den.
Speaker 2 (02:28):
So.
Speaker 3 (02:28):
I started dancing when I was two, but I never
really planned to actually pursue it because I come from
a family of teachers, very educated, very much like pushing
me to do like more academic work. But I got
to meet and learned from all these professional dancers, and that's.
Speaker 2 (02:45):
When I flipped the switch.
Speaker 3 (02:48):
It just didn't make sense for me to stay in Florida.
Speaker 2 (02:53):
I'm Margaret Conti, I'm nineteen years old.
Speaker 3 (02:55):
I'm studying dance. My goal is to be in one
of the major modern companies here. I'm excited to get
to sit with Troy and Rashad because I feel like
I just need someone I can trust to tell me
how I build credit because I've been denied twice for
credit cards.
Speaker 4 (03:11):
It's gonna be an interesting one.
Speaker 1 (03:12):
We have a young lady who's been studying something very
niche and from a finance standpoint, this is somebody who's
got rejected twice in credit. Make sure to see how
that's how to impact on it in.
Speaker 5 (03:22):
New York City. That's you make it here. You can
maet anywhere be interested to here.
Speaker 2 (03:26):
How are you guys?
Speaker 4 (03:29):
Yes, so thank you for joining us. Appreciate it.
Speaker 2 (03:32):
Yeah, thank you guys for having me.
Speaker 4 (03:33):
Yeah.
Speaker 5 (03:34):
Sure, so I know you're a dancer, Yes, sir, So
what would be your dream as far as when you
say I made it as a dancer, I.
Speaker 2 (03:42):
Want to dance for the Martha Graham company.
Speaker 3 (03:44):
Martha Graham was a visionary who created her own like
foundational modern technique called like the Graham technique. And so
that's like what they dance for the most part, very ethereal, very.
Speaker 2 (03:54):
Like grounded and somehow also flowing.
Speaker 3 (03:56):
And I think I love that like separation between the
two and how you got to do both at the
same time.
Speaker 2 (04:03):
That's like all I want.
Speaker 4 (04:05):
So you've had some issues with credit, right, Yeah.
Speaker 3 (04:08):
So I've like struggled to be a proof for credit cards.
A couple of times before I left for college, I
applied for two cards and was it able to get them.
Speaker 6 (04:16):
Sixty five percent of gen Z applicants have been denied
for some form of credit, the highest among all generations.
Speaker 4 (04:22):
Do you know why you were denied?
Speaker 3 (04:23):
One of them didn't tell me a reason, and then
the other one said that it was because I didn't.
Speaker 2 (04:26):
Have like enough credit like credit history, credit history.
Speaker 3 (04:30):
But if I don't have a credit card, I can't
build credit history. So I have like a credit card
through like one of my parents, authorized.
Speaker 6 (04:39):
Using an authorized users a person who is allowed to
use another person's credit card account the primary card member,
otherwise known as the card owner.
Speaker 4 (04:46):
Did you learn a lot about money in your household?
Speaker 2 (04:49):
Not really.
Speaker 3 (04:49):
We didn't really talk about it. It was always something
that like we were taught like not to talk about.
It's probably isn't great. But a lot of my information
comes from like social media or online campaigns and ads,
So I guess I don't really have like a trusted
source that I take everything from.
Speaker 1 (05:05):
Misinformation runs while, especially on social media. It's kind of
how we started our career.
Speaker 4 (05:10):
Really. He was a financial advisor.
Speaker 1 (05:12):
I was a teacher, so we started teaching about financial literacy,
started out with young teens, and then it led to
creating a show that educated a.
Speaker 4 (05:20):
Lot of people because of that factor.
Speaker 3 (05:22):
It's like finding options out there like that that you
know you can trust.
Speaker 2 (05:26):
It's so important.
Speaker 6 (05:27):
Fifty six percent of gen Z report they intentionally seek
out financial advice through social media.
Speaker 5 (05:32):
So I want to talk about the finances because that's
something that obviously could be kind of challenging. How have
you been able to balance finances living in New York City?
Speaker 2 (05:41):
Yeah, so it's definitely difficult.
Speaker 3 (05:42):
At my school, we dance like from eight to eight,
So working during the week isn't really an option. You're
not always going to have stable work, and like you
have to recognize that definitely scary.
Speaker 5 (05:54):
Do you feel that you may have to make some
career decisions if you're not making money dancing or are
you fully committed?
Speaker 2 (06:03):
I want to give it at least five years.
Speaker 3 (06:05):
I am like a double major, so I do have
like another degree that I have if something goes wrong,
what's your degree in history? So not a ton of
jobs with that, but it is something more than dance.
I want to give it at least five years and
like give it everything I can, and so that's as
many odd jobs as possible if that means, like, however
(06:25):
many roommates I need wherever I have to live, Like
I am trying to like build up credit because I
want to be able to like have an apartment and
get approved for like larger purchases. So that's definitely something
that I'm worried about because once I graduate, I'm going
to need somewhere to live.
Speaker 1 (06:47):
When you apply for it and you were denied, what
was that feeling?
Speaker 7 (06:52):
Like?
Speaker 3 (06:55):
I felt like I didn't really know what other options
there were for me to do at that.
Speaker 1 (06:59):
Point, we believe confidence is the best way to combat
credit to now, so we set off to La to
meet up with a guy who has confidence in spades.
Bixby is a singer, songwriter, producer who has developed a
loyal and growing fan base without a record deal or
the support of a traditional label.
Speaker 7 (07:15):
I mean, the first time I ever tried to apply
for a credit card, I got tonight because I had
absolutely no history. But I feel like, just like being
an artist doing anything sort of are related. I feel
like it's a marathon, it's not a sprint.
Speaker 1 (07:28):
We caught up with him in the studio to discuss
credit and being a creative.
Speaker 4 (07:31):
Congratulations without your success. Thank you so much.
Speaker 7 (07:34):
I appreciate it.
Speaker 2 (07:34):
Yeah.
Speaker 4 (07:35):
Nah, you've blown up man taking over the world. That's
the plan. Okay, So let's talk about financial anxiety.
Speaker 5 (07:42):
Yeah, did you ever have any level of financial anxiety
growing up?
Speaker 4 (07:46):
Oh?
Speaker 7 (07:46):
For sure.
Speaker 4 (07:47):
I mean.
Speaker 7 (07:49):
Coming from a not so wealthy family, you know, like
there's always been some sort of financial anxiety I've always
been aware of, Like, you know, you need to have
a job and you need to have like steady income.
Speaker 5 (08:02):
So yeah, so at what point did you realize like, Okay,
I got my stride in this situation.
Speaker 1 (08:08):
So like, are your peers realizing that you have this talent?
Does your family know you have this talent? It was
just like I'm closing the door, I'm in the lab
and nobody knows what's going on.
Speaker 7 (08:17):
Well, I'm gonna be honest. It wasn't talent in the
first place. It was really bad in the beginning. I
kept it a secret mainly for my family for a
little bit, and then you know, you can't really hide it.
I'm screaming in my room at two in the morning
trying to make music with peers. It was like, you know,
a little bit of bullying, you know, I mean eventually
then they were like, yo, she's kind of tough. People
(08:41):
usually have this thing where they like are embarrassed by
what they do because they know like bad or whatever.
But like I had this full on confidence that I
was like, I'm gonna make it. I'm next up. Three
years in, I had my first song reach one hundred
k place, which was like huge for.
Speaker 4 (08:58):
Me at the sound clo yeah on SoundCloud.
Speaker 7 (09:00):
Quit my Boba job the next day, no more, Yeah,
no more Boba.
Speaker 1 (09:04):
There's a mental side of this as well, right, obviously,
if you have to create, there's a pressure to create.
Speaker 4 (09:09):
This is your livelihood.
Speaker 1 (09:11):
How are you handling that at such a young age.
Speaker 7 (09:14):
Oh, it's hard. Just the people around me that are
also going through the same things that I am. Like,
just keeping that kind of company really helps. Do you
guys want to hear some new stuff?
Speaker 4 (09:23):
Yeah?
Speaker 7 (09:28):
I started out with just a laptop and a USB microphone.
There was a good three years where I was just
making really bad music and I didn't think I was
I thought it was awesome. I got denied my first
couple of credit cards. You know, I was living with
my parents. I had no credit history whatsoever. But as
time goes on, you realize more of these things and
like you realize, oh, like I can actually get better
at something. Yeah, now I'm living my dream making music
(09:50):
and making money off of it, and there's still so
much more left to do. We're on the same journey
together and we're gonna get to wherever we need to
be as long as we keep going.
Speaker 1 (09:58):
Bigsb's companies him resilient and it's fueling his success and
to help Margaret gain the kind of confidence she has
in her dancing with her finances, it's clear, all she
really needs is some trustworthy guidance.
Speaker 4 (10:10):
All right, let's get.
Speaker 1 (10:11):
Into you know, the ABC's of how credit actually works. No,
this is important, right, So it breaks down to one
hundred percent circle.
Speaker 4 (10:20):
Right.
Speaker 1 (10:21):
The biggest percentage inside of how to improve your credit
is making sure that you have a great payment history.
So thirty five percent of your score comes to that, right.
So it's important to know your due date. In fact,
it's also important to know the reporting date of the
financial firm or the institution that is loaning you with credit.
You always want to pay before them because again, it
shows you how trustworthy you are that you're able to
(10:41):
pay off that debt before they're even asking for it.
Speaker 4 (10:43):
The next one is the utilization.
Speaker 1 (10:45):
Utilization raisings how much of the card you're using. Typically
they'll tell you to make sure that it stays about
thirty percent. We love to tell people make it ten percent.
Speaker 4 (10:54):
That way, you're overperforming.
Speaker 1 (10:55):
At that level so that you're more credit worthy and
more trustworthy.
Speaker 3 (10:59):
So like keeping the lowe or rate, that makes people
more willing to improve you because I think.
Speaker 4 (11:03):
You'll pay exactly.
Speaker 1 (11:05):
The next one is the length of your credits. Right,
So this is about another fifteen percent of your credit score.
This is why having an authorized user card helps. Now
that you're an authorized user, you get to have the
freedom of having the report of their credit now affecting you.
Now you have two credit cards with thirty years, they're
going to divide it. Now your credit length is fifteen years.
This is how it works. That's why have an authorized
(11:25):
card is so important.
Speaker 4 (11:25):
But you got to use it. The next one is
the mixture.
Speaker 1 (11:27):
Of credit, right, like, how many different places feel that
I'm trustworthy to get credit?
Speaker 4 (11:33):
Yeah, to that point.
Speaker 1 (11:34):
One simple way to improve your chances of getting approved
for a first time credit card like Chasing Starter card
is to have a Chase Checking account open when you apply.
Speaker 2 (11:41):
That is the ADCs.
Speaker 1 (11:42):
If you can stick to that format number one, your
credit is going to improve. But you're also going to
create a credit history for yourself.
Speaker 3 (11:48):
So those two cards that I was denying, do those
count against me as derogatory mark?
Speaker 1 (11:53):
Probably has, only because you were denied, But finding out
why you would deny it would be the first step.
And now you're on the path of building new right
so that that authorized.
Speaker 4 (12:04):
User card is super important.
Speaker 1 (12:06):
Figure out a system of how much we're going to
use keep that utilization low so you can start building
your own and then maybe six to eight months try
again and apply.
Speaker 3 (12:13):
Okay, Yeah, I think the way that they laid it
out like so simply and because it's strustworthy, makes it
almost easier to understand than like information from social media
or anywhere else I would get it.
Speaker 2 (12:26):
I feel like that information just confuses me even more.
Speaker 3 (12:30):
Having this are these are your four your five steps
that you need to do, and this is how important
they are, what percent they count towards your credit score.
Speaker 2 (12:38):
This just gives you like clear guidance on what to
focus on.
Speaker 3 (12:42):
It's nice to like have a plan and just be
confident in like working towards credit scores.
Speaker 4 (12:49):
Margaret Man talk about dreamers I believe in.
Speaker 5 (12:51):
You know, coming from Florida to New York City is
not easy as a teenager, you know, being rejected from
having credit that's something that you know, it's not usual.
Speaker 4 (13:01):
You know. Now it's an authorized user.
Speaker 5 (13:02):
She can take the stairs as opposed to just haveing
an elevator.
Speaker 1 (13:06):
Yeah, she's extremely courageous. She got the determination to say
I'm gonna make dance work. But you gotta give her
a lot of.
Speaker 4 (13:11):
Credit for There you have it. I don't dance, but
two step, two step, all way out of here.
This episode is brought to you by P and C Bank.
A lot of people think podcasts about work are boring,
and sure they definitely can be, but understanding a professionals
routine shows us how they achieve their success little by little,
day after day. It's like banking with P and C Bank.
It might seem boring to safe plan and make calculated
(00:21):
decisions with your bank, but keeping your money boring is
what helps you live or more happily fulfilled life. P
and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
Boring since eighteen sixty five is a service mark of
the PNC Financial Service Group, Inc. P and C Bank
National Association Member FDIC Erness What's Up? You ever walk
(00:45):
into a small business and everything just works like the
checkout is fast, the receipts are digital, tipping is a breeze,
and you're out the door before the line even builds.
Odds are they're using Square? We love supporting business is
that run on Square because it just feels seamless. Whether
it's a local coffee shop, a vendor at a pop
up market, or even one of our merch partners. Square
(01:08):
makes it easy for them to take payments, manage inventory,
and run their business with confidence, all from one simple system.
If you're a business owner or even just thinking about
launching something soon, Square is hands down one of the
best tools out there to help you start, run and grow.
It's not just about payments, it's about giving you time
(01:29):
back so you can focus on what matters most ready.
To see how Square can transform your business, visit Square
dot com, backslash, go backslash eyl to learn more that
Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.
Let's Square handle the back end so you can keep
pushing your vision forward. How often do you think about credit?
Speaker 2 (01:55):
That's a good question, the.
Speaker 1 (01:57):
Why, the how, the pitfalls, the benefit. I'm Troy Millions
and together with my partner Rashad Balau, we have been
financial educators under the Earnerlesiah Banner, and in this series
we've partnered with Chase Freedom Rise to talk to the
next generation about credit and confidence and specific steps to
building something real. This is Foundation Forward Episode one, How
(02:23):
to Overcome Credit den.
Speaker 2 (02:28):
So.
Speaker 3 (02:28):
I started dancing when I was two, but I never
really planned to actually pursue it because I come from
a family of teachers, very educated, very much like pushing
me to do like more academic work. But I got
to meet and learned from all these professional dancers, and that's.
Speaker 2 (02:45):
When I flipped the switch.
Speaker 3 (02:48):
It just didn't make sense for me to stay in Florida.
Speaker 2 (02:53):
I'm Margaret Conti, I'm nineteen years old.
Speaker 3 (02:55):
I'm studying dance. My goal is to be in one
of the major modern companies here. I'm excited to get
to sit with Troy and Rashad because I feel like
I just need someone I can trust to tell me
how I build credit because I've been denied twice for
credit cards.
Speaker 4 (03:11):
It's gonna be an interesting one.
Speaker 1 (03:12):
We have a young lady who's been studying something very
niche and from a finance standpoint, this is somebody who's
got rejected twice in credit. Make sure to see how
that's how to impact on it in.
Speaker 5 (03:22):
New York City. That's you make it here. You can
maet anywhere be interested to here.
Speaker 2 (03:26):
How are you guys?
Speaker 4 (03:29):
Yes, so thank you for joining us. Appreciate it.
Speaker 2 (03:32):
Yeah, thank you guys for having me.
Speaker 4 (03:33):
Yeah.
Speaker 5 (03:34):
Sure, so I know you're a dancer, Yes, sir, So
what would be your dream as far as when you
say I made it as a dancer, I.
Speaker 2 (03:42):
Want to dance for the Martha Graham company.
Speaker 3 (03:44):
Martha Graham was a visionary who created her own like
foundational modern technique called like the Graham technique. And so
that's like what they dance for the most part, very ethereal, very.
Speaker 2 (03:54):
Like grounded and somehow also flowing.
Speaker 3 (03:56):
And I think I love that like separation between the
two and how you got to do both at the
same time.
Speaker 2 (04:03):
That's like all I want.
Speaker 4 (04:05):
So you've had some issues with credit, right, Yeah.
Speaker 3 (04:08):
So I've like struggled to be a proof for credit cards.
A couple of times before I left for college, I
applied for two cards and was it able to get them.
Speaker 6 (04:16):
Sixty five percent of gen Z applicants have been denied
for some form of credit, the highest among all generations.
Speaker 4 (04:22):
Do you know why you were denied?
Speaker 3 (04:23):
One of them didn't tell me a reason, and then
the other one said that it was because I didn't.
Speaker 2 (04:26):
Have like enough credit like credit history, credit history.
Speaker 3 (04:30):
But if I don't have a credit card, I can't
build credit history. So I have like a credit card
through like one of my parents, authorized.
Speaker 6 (04:39):
Using an authorized users a person who is allowed to
use another person's credit card account the primary card member,
otherwise known as the card owner.
Speaker 4 (04:46):
Did you learn a lot about money in your household?
Speaker 2 (04:49):
Not really.
Speaker 3 (04:49):
We didn't really talk about it. It was always something
that like we were taught like not to talk about.
It's probably isn't great. But a lot of my information
comes from like social media or online campaigns and ads,
So I guess I don't really have like a trusted
source that I take everything from.
Speaker 1 (05:05):
Misinformation runs while, especially on social media. It's kind of
how we started our career.
Speaker 4 (05:10):
Really. He was a financial advisor.
Speaker 1 (05:12):
I was a teacher, so we started teaching about financial literacy,
started out with young teens, and then it led to
creating a show that educated a.
Speaker 4 (05:20):
Lot of people because of that factor.
Speaker 3 (05:22):
It's like finding options out there like that that you
know you can trust.
Speaker 2 (05:26):
It's so important.
Speaker 6 (05:27):
Fifty six percent of gen Z report they intentionally seek
out financial advice through social media.
Speaker 5 (05:32):
So I want to talk about the finances because that's
something that obviously could be kind of challenging. How have
you been able to balance finances living in New York City?
Speaker 2 (05:41):
Yeah, so it's definitely difficult.
Speaker 3 (05:42):
At my school, we dance like from eight to eight,
So working during the week isn't really an option. You're
not always going to have stable work, and like you
have to recognize that definitely scary.
Speaker 5 (05:54):
Do you feel that you may have to make some
career decisions if you're not making money dancing or are
you fully committed?
Speaker 2 (06:03):
I want to give it at least five years.
Speaker 3 (06:05):
I am like a double major, so I do have
like another degree that I have if something goes wrong,
what's your degree in history? So not a ton of
jobs with that, but it is something more than dance.
I want to give it at least five years and
like give it everything I can, and so that's as
many odd jobs as possible if that means, like, however
(06:25):
many roommates I need wherever I have to live, Like
I am trying to like build up credit because I
want to be able to like have an apartment and
get approved for like larger purchases. So that's definitely something
that I'm worried about because once I graduate, I'm going
to need somewhere to live.
Speaker 1 (06:47):
When you apply for it and you were denied, what
was that feeling?
Speaker 7 (06:52):
Like?
Speaker 3 (06:55):
I felt like I didn't really know what other options
there were for me to do at that.
Speaker 1 (06:59):
Point, we believe confidence is the best way to combat
credit to now, so we set off to La to
meet up with a guy who has confidence in spades.
Bixby is a singer, songwriter, producer who has developed a
loyal and growing fan base without a record deal or
the support of a traditional label.
Speaker 7 (07:15):
I mean, the first time I ever tried to apply
for a credit card, I got tonight because I had
absolutely no history. But I feel like, just like being
an artist doing anything sort of are related. I feel
like it's a marathon, it's not a sprint.
Speaker 1 (07:28):
We caught up with him in the studio to discuss
credit and being a creative.
Speaker 4 (07:31):
Congratulations without your success. Thank you so much.
Speaker 7 (07:34):
I appreciate it.
Speaker 2 (07:34):
Yeah.
Speaker 4 (07:35):
Nah, you've blown up man taking over the world. That's
the plan. Okay, So let's talk about financial anxiety.
Speaker 5 (07:42):
Yeah, did you ever have any level of financial anxiety
growing up?
Speaker 4 (07:46):
Oh?
Speaker 7 (07:46):
For sure.
Speaker 4 (07:47):
I mean.
Speaker 7 (07:49):
Coming from a not so wealthy family, you know, like
there's always been some sort of financial anxiety I've always
been aware of, Like, you know, you need to have
a job and you need to have like steady income.
Speaker 5 (08:02):
So yeah, so at what point did you realize like, Okay,
I got my stride in this situation.
Speaker 1 (08:08):
So like, are your peers realizing that you have this talent?
Does your family know you have this talent? It was
just like I'm closing the door, I'm in the lab
and nobody knows what's going on.
Speaker 7 (08:17):
Well, I'm gonna be honest. It wasn't talent in the
first place. It was really bad in the beginning. I
kept it a secret mainly for my family for a
little bit, and then you know, you can't really hide it.
I'm screaming in my room at two in the morning
trying to make music with peers. It was like, you know,
a little bit of bullying, you know, I mean eventually
then they were like, yo, she's kind of tough. People
(08:41):
usually have this thing where they like are embarrassed by
what they do because they know like bad or whatever.
But like I had this full on confidence that I
was like, I'm gonna make it. I'm next up. Three
years in, I had my first song reach one hundred
k place, which was like huge for.
Speaker 4 (08:58):
Me at the sound clo yeah on SoundCloud.
Speaker 7 (09:00):
Quit my Boba job the next day, no more, Yeah,
no more Boba.
Speaker 1 (09:04):
There's a mental side of this as well, right, obviously,
if you have to create, there's a pressure to create.
Speaker 4 (09:09):
This is your livelihood.
Speaker 1 (09:11):
How are you handling that at such a young age.
Speaker 7 (09:14):
Oh, it's hard. Just the people around me that are
also going through the same things that I am. Like,
just keeping that kind of company really helps. Do you
guys want to hear some new stuff?
Speaker 4 (09:23):
Yeah?
Speaker 7 (09:28):
I started out with just a laptop and a USB microphone.
There was a good three years where I was just
making really bad music and I didn't think I was
I thought it was awesome. I got denied my first
couple of credit cards. You know, I was living with
my parents. I had no credit history whatsoever. But as
time goes on, you realize more of these things and
like you realize, oh, like I can actually get better
at something. Yeah, now I'm living my dream making music
(09:50):
and making money off of it, and there's still so
much more left to do. We're on the same journey
together and we're gonna get to wherever we need to
be as long as we keep going.
Speaker 1 (09:58):
Bigsb's companies him resilient and it's fueling his success and
to help Margaret gain the kind of confidence she has
in her dancing with her finances, it's clear, all she
really needs is some trustworthy guidance.
Speaker 4 (10:10):
All right, let's get.
Speaker 1 (10:11):
Into you know, the ABC's of how credit actually works. No,
this is important, right, So it breaks down to one
hundred percent circle.
Speaker 4 (10:20):
Right.
Speaker 1 (10:21):
The biggest percentage inside of how to improve your credit
is making sure that you have a great payment history.
So thirty five percent of your score comes to that, right.
So it's important to know your due date. In fact,
it's also important to know the reporting date of the
financial firm or the institution that is loaning you with credit.
You always want to pay before them because again, it
shows you how trustworthy you are that you're able to
(10:41):
pay off that debt before they're even asking for it.
Speaker 4 (10:43):
The next one is the utilization.
Speaker 1 (10:45):
Utilization raisings how much of the card you're using. Typically
they'll tell you to make sure that it stays about
thirty percent. We love to tell people make it ten percent.
Speaker 4 (10:54):
That way, you're overperforming.
Speaker 1 (10:55):
At that level so that you're more credit worthy and
more trustworthy.
Speaker 3 (10:59):
So like keeping the lowe or rate, that makes people
more willing to improve you because I think.
Speaker 4 (11:03):
You'll pay exactly.
Speaker 1 (11:05):
The next one is the length of your credits. Right,
So this is about another fifteen percent of your credit score.
This is why having an authorized user card helps. Now
that you're an authorized user, you get to have the
freedom of having the report of their credit now affecting you.
Now you have two credit cards with thirty years, they're
going to divide it. Now your credit length is fifteen years.
This is how it works. That's why have an authorized
(11:25):
card is so important.
Speaker 4 (11:25):
But you got to use it. The next one is
the mixture.
Speaker 1 (11:27):
Of credit, right, like, how many different places feel that
I'm trustworthy to get credit?
Speaker 4 (11:33):
Yeah, to that point.
Speaker 1 (11:34):
One simple way to improve your chances of getting approved
for a first time credit card like Chasing Starter card
is to have a Chase Checking account open when you apply.
Speaker 2 (11:41):
That is the ADCs.
Speaker 1 (11:42):
If you can stick to that format number one, your
credit is going to improve. But you're also going to
create a credit history for yourself.
Speaker 3 (11:48):
So those two cards that I was denying, do those
count against me as derogatory mark?
Speaker 1 (11:53):
Probably has, only because you were denied, But finding out
why you would deny it would be the first step.
And now you're on the path of building new right
so that that authorized.
Speaker 4 (12:04):
User card is super important.
Speaker 1 (12:06):
Figure out a system of how much we're going to
use keep that utilization low so you can start building
your own and then maybe six to eight months try
again and apply.
Speaker 3 (12:13):
Okay, Yeah, I think the way that they laid it
out like so simply and because it's strustworthy, makes it
almost easier to understand than like information from social media
or anywhere else I would get it.
Speaker 2 (12:26):
I feel like that information just confuses me even more.
Speaker 3 (12:30):
Having this are these are your four your five steps
that you need to do, and this is how important
they are, what percent they count towards your credit score.
Speaker 2 (12:38):
This just gives you like clear guidance on what to
focus on.
Speaker 3 (12:42):
It's nice to like have a plan and just be
confident in like working towards credit scores.
Speaker 4 (12:49):
Margaret Man talk about dreamers I believe in.
Speaker 5 (12:51):
You know, coming from Florida to New York City is
not easy as a teenager, you know, being rejected from
having credit that's something that you know, it's not usual.
Speaker 4 (13:01):
You know. Now it's an authorized user.
Speaker 5 (13:02):
She can take the stairs as opposed to just haveing
an elevator.
Speaker 1 (13:06):
Yeah, she's extremely courageous. She got the determination to say
I'm gonna make dance work. But you gotta give her
a lot of.
Speaker 4 (13:11):
Credit for There you have it. I don't dance, but
two step, two step, all way out of here.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Cardiac Cowboys
The heart was always off-limits to surgeons. Cutting into it spelled instant death for the patient. That is, until a ragtag group of doctors scattered across the Midwest and Texas decided to throw out the rule book. Working in makeshift laboratories and home garages, using medical devices made from scavenged machine parts and beer tubes, these men and women invented the field of open heart surgery. Odds are, someone you know is alive because of them. So why has history left them behind? Presented by Chris Pine, CARDIAC COWBOYS tells the gripping true story behind the birth of heart surgery, and the young, Greatest Generation doctors who made it happen. For years, they competed and feuded, racing to be the first, the best, and the most prolific. Some appeared on the cover of Time Magazine, operated on kings and advised presidents. Others ended up disgraced, penniless, and convicted of felonies. Together, they ignited a revolution in medicine, and changed the world.