Get a sugar daddy or the best credit score

If you have yet to find a Sugar Daddy willing to pay off your debt, you may be forced to figure out your finances on your own—and knowing how to get the best credit score is the very first step. So, sign up for the free ‘Improve or Build Your Credit Score powered by Experian Boost‘ guide.

The best credit score and thick credit report

Collin Brennan is a Senior Editor at Credit Karma. Today Collin covers the basics of credit scores and credit reports, explaining how scores are determined and why it’s important to check your scores regularly and how to improve them. He offers actionable advice on building a credit history if you have a ‘thin file’ and how to deal with potential data breaches. Listen and learn what qualifies as a ‘good’ score, the difference between a hard and soft inquiry, and the free tools available through Credit Karma.

Score your best credit score after listening to this Queer Money:

Credit Karma is a free online service that affords you the tools, the education, and the opportunities you need to understand your finances. They provide free access to your credit scores, reports, and monitoring along with informative content that allows you to make informed financial decisions.

Topics covered to get the best credit score

Credit score 101, and how to have the best credit score

• The three-digit number reflects how likely you are to repay debt
• Built on payment history, credit utilization, number of accounts, hard inquiries, etc.
• Several for each person (FICO offers 28 optimized for different lending decisions)
• Three bureaus: Equifax, Experian and TransUnion

Why it’s important to check your credit score regularly

• Reveals any breach, errors
• Address with direct dispute tool on Credit Karma

Why a high credit score is important

• Impacts whether approved for best credit cards
• Determines interest rate on loans
• Landlord may use as reference

How to build your credit history

• Add on parents’ card as authorized user
• Secure a co-signer
• Get a secured credit card (requires cash deposit)

The difference between a bad credit score and the best credit score

• Different lenders have different standards
• Scores range from 300 to 850
• 700 is generally considered ‘good’
• 780 and above is ideal

The tools and resources available at Credit Karma to the best credit score

• Free credit scores
• Free credit monitoring
• Direct dispute
• Educational resources
• Simulator
• ID monitoring
• Auto assistant

How to deal with data breaches

• Be proactive, checking reports regularly
• Sign up for Credit Karma’s free ID, credit monitoring
• Lock/freeze credit file if necessary

The difference between a hard inquiry and a soft inquiry

• Hard inquiries have a negative impact on credit score, stay on report two years
• Soft inquiries have no effect on score (i.e.: checking score, prequalified credit card offers, background check)

Connect with Collin

• Credit Karma

Resources

• Sign up for the free ‘Improve or Build Your Credit Score powered by Experian Boost’
• Pay Off Your Credit Card Fast With Debt Lasso
• Experian
• Queer Money™ Newsletter
• Subscribe on iTunes

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