Breaking Down Credit & Credit Cards with Jordan Goodman

Original Show Notes: Mastering Your Credit and Credit Cards

Today we are excited to welcome back a past guest who is a wizard when talking about student loans and now credit.

Jordan Goodman is also known as America’s Money Answers Man-
Welcome back!

[2:14] Should people have more than 1 credit card?
·      Yes- you want to build credit
·      3-4 cards is the ideal amount
·      Cards that have benefits for your life
·      Guidetocreditcard.com

[3:10] A listener wrote in: My boyfriend thinks that you should have a revolving balance on your credit card. Can you explain to him why this is a bad idea?
·      Because you’re paying interest
·      Does not help your credit score
·      Debt management plan cambridgecredit.org

[7:11] Fraud is a scary thought to almost all Americans. Is there a way to get errors off your credit report?
·      Yes- there’s a whole procedure
·      Fair and Accurate Credit Transactions Act
·      Tourdecredit.com- helps improve credit reports

[8:58] Listener scenario: A 21-year-old girl gets in a car accident and is seriously injured. She has no health insurance and is now half a million dollars in debt. What should she do?
·      Go to Healthcareadvocates.com

[11:46] How do I know if a debt resolution company is legit or a scam?
·      Legit ones cooperate with the creditors
·      Scams are called debt settlement companies

[13:1] If a loved one dies, parent or spouse, are you automatically left their debt or is there a way around that?
·      Typically, debt is against the estate not the benefactors

Sponsors

[15:39] Chain of Wealth– If you want to refinance your student loans head over to chainofwealth.com/credible for $200 off your first payment.

Refinancing your student loans can save you thousands!

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Value Link Round (VLR)

[16:9] What is your favorite quote?
·      “Every day, think as you wake up. Today I am fortunate to be alive, I have a precious human life, I am not going to waste it.”

[16:36] Best advice someone gave you?
·      Set up habits

[17:5] Last advice?
·      Savers dilemma: Secured real estate fund