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Money Management

Your World on Money-Credit

Your World on Money-Credit: Overwhelmed and anxious about money? Not anymore. Master money basics – from budgeting to investing, homeownership to retirement – in Your World on Money. In this episode, we discuss credit.

By Andini Makosinski May 13, 2026

Credit Cards & Credit Scores
Andini Makosinski
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Key Takeaways

  • Only use a credit card if you know exactly where the money will come from to pay it back—don't borrow money you can't repay, as interest rates on unpaid balances often exceed 18-25%
  • Set up automatic payments on your credit card to avoid late payments, which is the easiest way to damage your credit score and rack up interest charges
  • Use your credit card for small purchases only, not large ones, to demonstrate responsibility to lenders and build credit history without accumulating debt you can't manage
  • A credit score is determined by three factors: paying bills on time (most important), keeping your credit utilization low (borrowing only a small portion of available credit), and having a long credit history—focus on the first two when starting out
  • Avoid impulse purchases by adding items to your shopping cart and waiting a few days before buying—this reduces unnecessary spending whether you're using cash or credit

Your World on Money-Credit: Overwhelmed and anxious about money? Not anymore. Master money basics – from budgeting to investing, homeownership to retirement – in Your World on Money. This episode of Your World on Money covers how to make credit work for you. Host Andini Makosinski receives expert advice on securing a good credit score, as well as how a long credit history, coupled with responsible credit management, will enhance your financial standing. In essence, understanding credit's history and applications, as well as practicing disciplined borrowing and repayment habits, will enable you to harness the power of credit to improve your overall quality of life. “Should I be using my credit card for everything?” Andini gets an expert’s answers to the questions we’re all asking about credit. Credit, when utilized effectively, can be a powerful financial instrument that opens doors to opportunities, such as buying a home, financing education, or purchasing a vehicle. However, misusing credit can lead to financial pitfalls and long-term consequences. In partnership with Experian.

Watch more episodes of Your World on Money at this link: https://www.finstream.tv/videos/your-world-on-money/

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