Jan 10, 2020

NGPF Podcasts: Demetria Gallegos of WSJ on 9 Myths About Credit Scores

Everything you ever wanted to learn about credit scores and more. Discover the myths, the realities and ways that you can improve your credit score in this informative podcast with Demetria Gallegos of the Wall Street Journal. Enjoy! 


  • 0:00~1:28 Introduction
  • 1:28~6:10 Utilizing a Roth IRA
  • 6:10~9:05 Learning about money growing up 
  • 9:05~11:47 Financial lessons learned from raising children
  • 11:47~14:14 Myths about credit scores
  • 14:14~15:08 Using a secured credit card
  • 15:08~18:01 Raising your credit score
  • 18:01~23:22 Myths people believe about credit scores
  • 23:22~23:48 A word from NGPF
  • 23:48~25:58 How credit inquiries impact your score
  • 25:58~27:15 The myth of carrying a balance 
  • 27:15~29:39 The impact of closing older credit card accounts 
  • 29:39~32:51 Comparison shopping loans
  • 32:51~34:52 Strategies for paying off loans
  • 34:52~36:13 When asked the question “credit or debit?”
  • 36:13~38:51 Paying attention to credit card usage
  • 38:51~39:59 Conclusion



  • “Knowing your score is the beginning of this conversation. I would say your students can encourage their parents to check their credit scores and perhaps even have them share their credit score with their students so students can begin to understand the real-world implications of this otherwise very mysterious and powerful number that is calculated against us by these companies.”


For more on this topic, be sure to check out NGPF's Managing Credit unit page which has dozens of lessons, activities, games and other resources to teach your students. 


About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Ren Makino

Ren started interning at NGPF in 2014, and worked part-time through high school and college. With his knowledge growing alongside NGPF, he joined the team to work full-time after graduating from college in 2020. He is also the producer of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world.

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