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LESSON 06 : Control Your Credit
Course
Farah Javed
Learn how to establish and maintain strong credit at any stage of life. This course covers strategies for building credit from scratch, managing credit through major life events, and debunking common credit myths.
Control Your Credit is a practical, micro-learning course designed to guide you through building and managing credit effectively, no matter where you start. Covering key topics such as overcoming the challenges of starting with no credit, using tools like authorized user accounts, secured credit cards, and credit-builder loans, the course also explores how life events like marriage, divorce, and retirement can affect your credit profile. You'll learn the truth about common credit myths—like the balance-carrying myth—and discover best practices for keeping your credit healthy for the long term. Each module breaks down complex concepts into clear, actionable steps, equipping you with the knowledge and confidence to build a credit history that supports your financial goals.
Here is the course outline:
1. Introduction: Breaking the Credit-Building ParadoxSets the stage for the course by explaining why it’s hard to build credit from scratch and outlining the journey you’ll take to gain control of your credit health. 9 sections
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2. Leveraging Authorized-User StatusExplores how being added to a trusted person’s credit card can jump-start your credit file and what agreements are needed to protect everyone involved. 9 sections
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3. Using Secured Cards and Credit-Builder LoansShows how secured credit cards and credit-builder loans work, how payments are reported, and when to transition to unsecured credit. 9 sections
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4. Opening Joint Accounts WiselyCovers the benefits, risks, and communication strategies required before sharing credit lines with someone who already has strong credit. 9 sections
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5. Marriage and Your Credit ProfileExplains what does and doesn’t merge after marriage, how joint decisions impact both partners, and ways to strengthen household credit. 9 sections
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6. Divorce: Untangling Shared DebtsDetails how divorce affects joint obligations, why lenders ignore divorce decrees, and steps to regain independent credit health. 9 sections
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7. Maintaining Credit Strength in RetirementDiscusses income shifts, account inactivity, and debt-to-income considerations that retirees face, plus tactics to keep scores high. 9 sections
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8. Debunking the Balance-Carrying MythDispels the misconception that carrying a credit-card balance boosts scores and shows why interest-free full payments are smarter. 9 sections
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9. Mastering Credit UtilizationClarifies how utilization ratios are calculated, why staying under 30% (ideally 10%) matters, and tips for lowering reported balances. 9 sections
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10. Summary and Best Practices for Credit ManagementWraps up the course with a consolidated checklist of ongoing habits—on-time payments, low balances, and regular monitoring—to keep credit thriving. 11 sections
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