In this episode, Mike discusses credit scores and credit card statements. He explains the components of a credit score, including payment history, utilization, average credit length, new credit, and credit mix. Episode Time Stamps: 00:00 Intro and the basics 00:57 Components of a Credit Score 02:21 Payment History and Utilization 02:49 Average Credit Length and New Credit 04:17 Credit Mix 04:46 Understanding Credit Card Statements 06:38 Payment Due Date and Interest 07:34 Importance of Making Payments on Time 08:33 Managing Credit Utilization 09:28 Strategies for Low Credit Utilization 12:22 Strategies for Average Credit Length 13:44 Keeping Oldest Credit Card Open 16:36 Improving Bad Credit 20:28 Increasing and Decreasing Credit Limits Keep Up With Daily Drop: Read the newsletter: https://www.dailydrop.com Join the Lounge: https://www.facebook.com/groups/dailydroplounge Check out our top cards: https://dailydrop.com/pages/our-top-credit-cards Follow along on Instagram: https://www.instagram.com/dailydrop/ Hang out on YouTube: https://www.youtube.com/@DailyDrop Prefer a video podcast? Head over here: https://www.youtube.com/@DailyDropPodcast