E165- Getting Started With Credit

Connect with Our Guest

Subscribe to Chain of Wealth

Join 40,515 Monthly Listeners

Subscribe to Chain of Wealth

Join 40,515 Monthly Listeners

Pro Tip: Timestamps below are clickable. Click on the time below in the brackets and the audio will start playing at that part of the show.

[1:38] What did you do when you started building your credit Katie?

  • Kate was added onto her brother’s credit card when she went to college
  • Kate’s mom also opened an account for her and then made the payments
  • When she had to pay for her teeth she had to open a care account
  • A credit card application came after college because she had her student loan that was now due
  • She’s not got the Uber credit card

[5:35] Denis had quite a different story for his credit history

  • He had a platinum credit card in South Africa, however in the US it does not translate
  • Denis was told he had no credit history so he had to start from scratch
  • The easiest way is to open up a secured credit card- essentially you fund the credit card
  • Pro tip- put more money in then you can use the points
  • Eventually after 6/7 months Denis started getting stuff in the mail
  • Denis now had over $60k of available facility on his credit card

[11:42] A good way to keep your first credit card under control is to only put a few expenses on your credit card or only really spending what you absolutely need.

[12:51] What you do eventually get your first credit card, it’s a really exciting time.

Only really use what you absolutely need to.

Check out CreditWise from CapitalOne.

Enjoying Our Podcast?

We have over 150 episodes to listen to! Join over 2,167 daily listeners that pursue financial freedom.

By entering your email, you agree to our Terms of Service and Privacy Policy.

Other Podcasts

E137 – Credit Scores

What is a credit score? Join Denis and Katie as they learn talk about what credit scores are and how they affect your credit status.

Listen »

E90 – How To Manage Credit Cards

The importance of your credit score

Everyone wants to know if you have a good credit score
Credit runs everything when you’re an adult Everyone seems interested in what your number is
There are ways to fix your credit

Listen »

E59 – Krystel from All She Saves

Krystel from All She Saves is a young professional living in Minnesota who is doing huge things! Like paying back $77,000 in student loans. She documents her journey to paying off her debt, living life and working full time.

Welcome!

Listen »

E48 – David Auten & John Schneider from Debt Free Guys

Today we have David Auten and John Schneider with us. David and John run the popular personal finance blog, Debt Free Guys. They have written for Yahoo Finance, Huffington Post, Business Insider, MSN Money, Time and many more. They have also been featured in media such as Market Report, NASDAQ, Christian Science Monitor and others. When David and John met, despite having a combined 13 years of financial services they had a combined $51,000 of credit card debt.

Listen »
About the Podcast
Chain of Wealth

Chain of Wealth

The Chain of Wealth podcast is a biweekly podcast boasting over 500,000 downloads. We interview inspirational guests about money topics. You can learn more about us here.

Share On
Share on facebook
Share on twitter
Share on linkedin

Leave a Reply

Your email address will not be published. Required fields are marked *