In the second episode of this season on financial FAQs gleaned from the Internet, Bex picks Simon’s brain on the topics of Credit Scores and Credit Cards.

Some key points of interest covered in this episode include the following:

• Simon starts off by explaining what a credit score is [02:04] before going on to deal with related questions about the need for credit and credit scores, and how a credit score can be improved. [04:57]
• In response to a question from Bex, Simon describes the difference that a credit score can make to the terms of a loan. [11:57]
• Simon then goes on to outline how credit cards work [15:22] and the advantages and disadvantages that can be associated with using them. [17:11]
• Bex asks Simon to explain APR (Annual Percentage Rate) as it is mentioned frequently when credit card arrangements are being described. [23:41] His response prompts Bex to comment on the significant, negative impact of compound interest in this context. [25:42]
• Simon provides various pointers and suggestions for anyone wishing to take out a credit card. [26:40]
• Simon provides three top tips arising from this week’s discussion [29:24], including some comments about dealing with credit card debt in which he mentions a previous episode which may be of interest. [30:47]
• The focus of next week’s episode will be on debt and borrowing. [31:48]

Suggestions or feedback arising from this episode can be sent via email to whereyourtreasureis@freerangepodcasting.co.uk while messages via Instagram should be directed to @whereyourtreasureispodcast.

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