In this episode, Realtor Adam Kruse and Realtor Shannon St. Pierre talk to George DeMere from Endeavor Capital Mortgage about credit myths and explains what actually affects your credit score.  

Email questions to PODCAST@HermannLondon.com   

Host - Adam Kruse https://hermannlondon.com/realtor/adam-kruse/

Shannon St. Pierre https://hermannlondon.com/realtor/shannon-st-pierre/

George DeMare-https://endeavorcapitalmortgage.com/

ITUNES-http://goo.gl/rs1q9X

Blog-https://hermannlondon.com/podcasts/

Producer - Joey Vosevich

Theme Song by Trastornobeats

0:46 Adam introduces George DeMare from Endeavor Capital Mortgage

1:10 You can also check out episode 41 about credit repair

1:42 Why does credit matter?

2:00 How does my credit score affect my homeowner’s insurance premium and credit card interest rate?

3:40 Should I check my credit score every year?

4:25 What is AnnualCreditReport.com?

5:00 Do credit reports show my credit score?

5:50 When buying a house how soon should I talk to a lender?

7:38 What factors affect my credit score?

10:20 Why do people use their credit card like it’s not their money?

11:19 35% of your credit score is your payment history

12:54 Will paying an old collection off help or hurt my credit score?

13:50 How long does it take for an old collection fall off of my credit score?

14:48 What is a charge off?

15:28 Does every creditor report to the credit agencies?

17:05 30% of your credit score is amounts owed a.k.a. your credit utilization rate

18:18 What is a rapid rescore?

24:40 Is it a good idea to pay down an auto loan faster?

26:25 15% of your credit score is length of credit history

27:55 What is the difference between a regular credit card and a secured credit card? Should a parent get their teenager a secured credit card?

30:00 10% of your credit score is new credit

30:40 What is a hard pull/ inquiry and does it drop your credit score? What happens if my credit is checked multiple times in a short amount of time?

31:50 What is a soft pull and does it drop your credit score?

34:45 Should I cancel a credit card that I’m not using?

37:25 10% of your credit score is the type of credit used

39:51 What is the highest credit score George DeMare has ever seen in 25 years?

41:16 What is OptOutPreScreen.com and how does it help cut down on the junk mail?