EP129 Adulting 101: Equifax’s Julie Kuzmic on What’s a Credit Report & Should I Care?
Julie Kuzmic is the Director of Consumer Advocacy at Equifax Canada, a credit scoring and reporting organization. Julie is recognized as an authority on consumer credit and is passionate about financial literacy and creating metaphors to explain the nuances of credit scores. She is a speaker on the topic of credit lifecycle, speaking to consumers, clients, and industry groups.
Julie joins me today to share what a credit report is and why you should care about yours. She shares how credit information is collected and used and reveals which credit inquiries affect your score. Julie also shares the most important things you can do to improve your credit score and explains why having no credit history can be a problem when you apply for significant credit, such as a mortgage.
“Nobody is perfect. We all make mistakes – and that includes with our money and financial decisions.” – Julie Kuzmic
This Week on Young Money:
- How Equifax collects credit information to create your credit report and score
- How a genuine curiosity, taking a human approach, and tailoring the message has helped Julie find career success
- How small steps can help you move towards where you want to go
- The differences between soft inquiries and hard inquiries and how they impact your credit score
- The monthly information collected by credit bureaus
- The three-digit range of credit score numbers
- Why paying your bills on time is the most significant factor in calculating your credit score
- Why the number of times you apply for credit affects your score
- How no credit history can negatively impact your credit score
- How to build up your credit score
Key takeaways:
- Your sources of credit affect your credit score
- You can rebuild your credit score
- You can have modest debt, live within your means, and have a good credit score
- Do not base your self-worth on your net worth
Resources Mentioned:
- EP111 Milli Moves: Talk Money To Me with Kelley Keehn
- EP081 Credit Canada Debt Solutions with Laurie Campbell
- EP056 Back to Basics – The 5Cs of Credit
- EP007 How’s Your Financial Reputation aka Your Credit Score?
Connect with Julie Kuzmic:
- Julie Kuzmic on LinkedIn
- Equifax on LinkedIn
- Equifax Canada
- Equifax on Twitter
- Julie Kuzmic on Twitter
Get Your Young Money Questions ANSWERED!
Want to learn more about your credit score and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember – there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast – the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Leave a Reply