What Every Student Should Know About Credit Scores

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Curious about credit scores? Finance expert Ross Mac explains everything you need to know in our latest episode of The Finance Couch:
Sponsored by Experian #FinanceCouchExperian

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How does a credit score grow? How does it shrink? Why does it even matter? Financial expert Ross Mac explains.

In the final episode of The Finance Couch, we meet Rania, a freshman in college who wants to have a deeper understanding about credit scores.According to Ross, your credit score is like a lifelong report card that shows how likely you are to pay back borrowed money. The higher your score, the more financially “trustworthy” you appear to lenders, which gives you a higher chance of securing loans and high-value lines of credit.

Ross walks through the five key components of a credit score: length of credit history, payment history, credit utilization, new credit, and credit mix. He also clarifies the difference between soft and hard inquiries, emphasizing that checking your credit score won’t hurt it, while applying for new credit can.

Whether you’re new to managing credit or looking to improve your score, this very last episode of The Finance Couch can give you the insight you need to start your credit journey.

Sponsored by Experian #FinanceCouchExperian


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