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Credit Myths: Busted!

Episode 073

If you think closing an old credit card will help you raise your score, think again! Those old accounts without balances are actually helping you raise two of the factors which make up your credit: longevity and debt to credit ratio. In this episode credit expert, Helen Arroyo, shares what makes up our credit score and busts some really common myths about how to improve our credit.

“If you closed a card down that you've had for 10 years, you've just lost 10 years of history.”

We may not love credit, but it’s an essential part of our financial lives. Not knowing how credit works can cost us thousands of dollars over our lifetimes. Would you rather send higher interest payments to a lender or use your money for things which are important to you like retirement savings, college education, or family vacations? This episode is critical listening for all those who are learning to build credit or want to improve their credit score.

Helen Arroyo is Marketing Director at Professional Negotiators Inc. and former banker of nearly 30 years. If you’d like to get in contact with Helen she can be reached by email at or by calling (954) 646-1172.


Helen wanted to wear costumes which made us look like people with really good credit. She suggested an old Hollywood theme with big sunglasses, scarves, and sun hats. I loved it!

Follow the show on Instagram @moneyheartshow to see more pics of my costumes from each episode. I also include my guest’s costume when they choose to wear one.



Money Mantra: "Happiness is the best currency." -Tal Ben-Shahar"


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