Listen Live
WERE AM Mobile App 2020


Joy 107.1 Featured Video
Checking the value of securities. Pencil, share listing and checking financial chart. Concept of banking, financial report and financial audit.

Source: Evkaz / Getty


It’s Monday so you know what that means? It’s Money Monday and Dr. Lynn Richardson returns to give the Get Up! Church tips on credit and budgeting. The financial expert breaks down what is a good credit score, why having no credit isn’t bad credit, and tips on paying your debtors. 










Erica: So let’s talk credit on this money Monday and credit scores once considered a good credit score and a bad credit score. And can you give some tips on how to improve? 

Dr. Lynn Richardson: Well, so I want to just dispel one myth because there are tons of people who don’t have a credit score at all. And so their credit score is 0. 

So when they go out and they try to buy a home, they’re told that they have bad credit and that is not the truth. If you have no credit score, so it’s zero, then technically you have a great credit score, and if you are trying to buy a home, for example, then what the mortgage professionals should do is prepare a residential mortgage credit report. It’s an RMCR and what they will do is they will take any bills that you pay on time. For example, they’ll take your cell phone bill, everybody has a cell phone. They’ll take your car insurance, your daycare, and they will create a credit report for you. And in that instance, you will basically have a superb credit profile.  

So I wanted just to spell that myth because I run into so many people so often who only use cash, they don’t use any credit cards for anything. Now, if you are using credit cards if you are spending money if you have had anything on your credit then a good credit score. What everybody should aim for is 700 or higher. 

Dr. Lynn Richardson Talks Credit and Budgeting | Money Monday  was originally published on