Is It Smart To Rebuild Your Credit After Paying Everything Off?

How does one build credit after a credit report is cleared?

Question: A listener asks if you’re supposed to rebuild your credit after your credit report has been cleared.

Answer: Only broke people will tell you to rebuild your credit.  You don’t need to rebuild your credit because you’re not going to live off of credit anymore.  If you’re not going to live off of credit, who cares what your credit score is.  Focus on building wealth and changing your family tree – not rebuilding your credit.