Earn Your Leisure X Chase Freedom Rise Presents Foundation Forward: Episode 1 | Margaret

Summary

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Episode Overview

Title: Earn Your Leisure X Chase Freedom Rise Presents Foundation Forward: Episode 1 | Margaret
Hosts: Troy Millings & Rashad Bilal
Guest: Margaret Conti (Dancer, Student)
Release Date: September 22, 2025

This episode launches the "Foundation Forward" series, focused on helping young adults build credit confidence and financial literacy. Co-hosts Troy and Rashad are joined by 19-year-old Margaret Conti, a passionate dance student in New York, who openly discusses her challenges with credit denial and financial independence. The show delves into practical steps for overcoming credit setbacks, building reliable financial habits, and navigating career decisions as a creative. They also feature an inspiring segment with musician Bigsby on financial confidence and perseverance in creative fields.

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Key Discussion Points & Insights

Growing Up Creative—and Financially in the Dark

[02:28]

• Margaret’s background: Started dancing at two, in a family of educators; recently moved to NYC, aiming for a career in a modern dance company.
• Family avoided money talk:

  "We didn't really talk about it. It was always something that, like, we were taught, like, not to talk about." — Margaret [04:49]

• Most financial info from social media, not trusted sources.

The Struggle to Build Credit

[03:42 - 06:47]

• Denied for two credit cards before college due to lack of credit history.
• Caught in the paradox:

  "But if I don't have a credit card, I can't build credit history." — Margaret [04:29]

• Currently an authorized user on a parent’s card but wants to build her own credit profile for independence.

Financial Realities of Pursuing the Arts in NYC

[05:32 - 06:47]

• Intensive dance schedule (8am-8pm) limits work opportunities.
• Open about “scary” instability in finances, but determined to give dance a real shot for at least five years.
• Double majoring in history as a potential backup.
• Concern for post-graduation housing and need for good credit to get an apartment.

The Mental Side: Overcoming Credit Denial

[06:47 - 07:00]

• Emotional impact:

  "I felt like I didn't really know what other options there were for me to do at that point." — Margaret [06:55]

• Hosts emphasize confidence as a key asset to overcome such setbacks.

Inspiration from Creative Peer: Bigsby

[07:00 - 09:58]

• Bigsby, a singer/producer who grew up with financial anxiety, overcame early credit denial and built resilience through creative pursuit.

  "I mean, the first time I ever tried to apply for a credit card, I got denied because I had absolutely no history. But I feel like… it's a marathon, it's not a sprint." — Bigsby [07:15]

• On confidence and peer support:

  "People usually have this thing where they … are embarrassed by what they do ... But like, I had this full on confidence that I was like, I'm gonna make it. I'm next up." — Bigsby [08:17]

• Quitting his day job after his first hit song (“No more boba!” [09:02]) exemplifies betting on oneself.

Credit Education: Demystifying the Basics

[10:12 - 11:41]

• Troy and Rashad break down the ABCs of credit:
  • 35% Payment history: Pay on time, know due and reporting dates.
  • 30% Utilization: Keep usage under 10% (not just the standard 30%).
  • 15% Length of credit: Authorized user cards help.
  • Credit mix: Multiple sources improve profile.
• Practical tip:

  "One simple way to improve your chances of getting approved for a first time credit card like Chase's starter card is to have a Chase checking account open when you apply." — Host [11:33]

Actionable Steps for Margaret’s Situation

[11:48 - 13:06]

• Margaret’s denied credit applications may take a temporary hit, but hosts stress she’s now on a better trajectory.
  • Key advice: Continue as an authorized user, keep utilization low, try applying again in 6-8 months.
• Margaret’s takeaway:

  "The way that they laid it out so simply and because it's trustworthy makes it almost easier to understand than, like, information from social media ... These are your four, your five steps that you need to do. And this is how important they are, what percent they count towards your credit score just gives you, like, clear guidance on what to focus on." [12:13]

Hosts Reflect on Margaret’s Determination

[12:48 - 13:12]

• Acknowledgment of Margaret’s courage and ambition:

  "Coming from Florida to New York City is not easy as a teenager, you know, being rejected from having credit, that's something that is now usual…now as an authorized user, she can take the stairs as opposed to just having the elevator." — Troy [12:51]
  "She's extremely courageous. She has the determination to say, I'm gonna make dance work. Which you gotta give her a lot of credit for." — Rashad [13:06]

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Memorable Quotes & Moments

• "I want to dance for the Martha Graham Company … That's like all I want."
  — Margaret [03:42]
• "But if I don't have a credit card, I can't build credit history."
  — Margaret [04:29]
• "People usually have this thing where they ... are embarrassed by what they do ... But like, I had this full on confidence that I was like, I'm gonna make it. I'm next up."
  — Bigsby [08:17]
• "Keeping the lower [utilization] rate makes people more willing to approve you because they think you'll pay."
  — Margaret [10:58]
• "It's nice to … have a plan and just be confident in, like, working towards credit. Credit scores."
  — Margaret [12:13]

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Important Timestamps

• 01:54 – Troy and Rashad introduce the series' focus: credit confidence.
• 02:28 – Margaret shares her credit journey and family background.
• 03:42 – Margaret discusses career dreams and initial credit issues.
• 04:49 – Discussion about lack of financial education at home.
• 06:47 – Emotional cost of credit denial.
• 07:00 – Segment with musician Bigsby – artist perspective on financial struggles.
• 10:12 – Hosts teach the ABCs of credit building.
• 11:48 – Real advice for Margaret's next steps to build credit.
• 12:48 - 13:12 – Hosts reflect on Margaret's determination and the episode wraps with affirmation.

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Summary & Takeaways

Foundation Forward: Episode 1 spotlights the realities young creatives face when trying to lay a stable financial foundation in expensive, competitive cities. Margaret’s openness about her struggles offers viewers a relatable look at the common barriers to establishing credit and financial independence. The hosts’ clear explanations and actionable advice set the stage for the series’ mission to offer trustworthy, relatable guidance. The episode ends on a note of encouragement—for both Margaret and listeners—underscoring that with confidence, reliable information, and perseverance, building a strong financial future is truly possible.

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Transcript

[A]

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[B]

That's a good question.

[A]

The why, the how, the pitfalls, the benefits. I'm Troy Millings and together with my.

[C]

Partner Rashad Bilal, we have been financial.

[A]

Educators under the Earn youn Leisure banner.

[D]

What's up my man?

[E]

What's up?

[A]

And in this series we've partnered with Chase Freedom Rise to talk to the next generation about credit confidence and specific steps to building something real. This is Foundation Forward Episode one How to Overcome Credit Denial.

[B]

So I started dancing when I was 2, but I never really planned to like actually pursue it because I come from a family of teachers, very educated, very much like pushing me to do like more academic work. But I got to meet and learn from all these professional dancers and that's when I flipped the switch. It just didn't make sense for me to stay in Florida. I'm Margaret Conti. I'm 19 years old. I'm studying dance. My goal is to be in one of the major modern companies here in New York. I'm excited to get to sit with Troy and Rashad because I feel like I just need someone I can trust to. To tell me how I build credit. Because I've been denied twice for credit cards.

[C]

It's gonna be an interesting one. We have a young lady who's been studying something very niche. And from a finance standpoint, this is somebody who's got rejected twice from Credit Much. Good to see how that's had an.

[D]

Impact on her in New York City. You can make it here, you can make it anywhere. Be interested to hear.

[B]

How are you guys?

[D]

Great.

[B]

It's good.

[D]

Yes. So thank you for joining us. Appreciate it.

[B]

Yeah. Thank you guys for having me. Yeah, sure.

[D]

So I know you're a dancer.

[B]

Yes, sir.

[D]

So what would be your dream as far as when you say, I made it as a dancer?

[B]

I want to dance for the Martha Graham Company. Martha Graham was a visionary who created her own, like, foundational modern technique called like, the Graham Technique. And so that's like what they dance for the most part. Very ethereal, very, like, grounded, and somehow also flowy. And I think I love that, like, separation between the two and how you get to do both at the same time. That's like, all I want.

[D]

So you've had some issues with credit, right?

[B]

Yeah. So I've, like, struggled to be approved for credit cards. A couple times before I left for college, I applied for two cards and wasn't able to get them.

[F]

65% of Gen Z applicants have been denied for some form of credit, the highest among all generations.

[D]

Do you know why you were denied?

[B]

One of them didn't tell me a reason, and then the other one said that it was cause I didn't have, like, enough credit.

[D]

Credit history.

[B]

Credit history. But if I don't have a credit card, I can't build credit history. So I have like a credit card through, like, one of my parents.

[C]

So you're an authorized user?

[B]

Mm.

[F]

An authorized user is a person who is allowed to use another person's credit card account. The primary card member, otherwise known as the card owner.

[D]

Did you learn a lot about money in your household?

[B]

Not really. We didn't really talk about it. It was always something that, like, we were taught, like, not to talk about. This probably isn't great, but a lot of my information comes from, like, social media or online campaigns and ads, so I guess I don't really have, like a trusted source that I take.

[C]

Everything from misinformation runs wild, especially on social media. It's kind of how we started our career, really. He was a financial advisor, I was a teacher. So we started teaching about financial literacy. Started out with young teens, and then it led to creating a show that educated a lot of people because of that factor.

[B]

It's like finding options out there like that that you know you can trust. It's so important.

[F]

56% of Gen Z report they intentionally seek out financial advice through social media.

[D]

So I want to talk about the finances because that's something that obviously could be kind of challenging. How have you been able to balance finances living in New York City?

[B]

Yeah, so it's definitely difficult. At my school, we dance, like from 8 to 8, so working during the week isn't really an option. You're not always going to have stable work and, like, you have to recognize that. Definitely scary.

[D]

Do you feel that you may have to make some career decisions if you're not making enough money dancing or are you fully committed?

[B]

I want to give it at least five years. I am like a double major, so I do have like another degree that I have if something goes wrong.

[D]

What's your other degree in?

[B]

History. So not a ton of jobs with that, but it is something more than dance. I want to give it at least five years and give it everything I can. And so that's as many odd jobs as possible if that means, like, however many roommates I need wherever I have to live. Like, I am trying to, like, build up credit because I want to be able to, like, have an apartment and get approved for, like, larger purchases. So that's definitely something that I'm worried about because once I graduate, I'm going to need somewhere to live.

[C]

When you apply for it and you were denied, what was that feeling like?

[B]

I felt like I didn't really know what other options there were for me to do at that point.

[A]

We believe confidence is the best way to combat credit denial. So we set off to LA to meet up with a guy who has confidence in spades. Bigsby is a singer, songwriter, producer who has developed a loyal and growing fan base without a record deal or the support of a traditional label.

[E]

I mean, the first time I ever tried to apply for a credit card, I got denied because I had absolutely no history. But I feel like just like being an artist doing anything sort of art related, I feel like it's a marathon, it's not a sprint.

[C]

We caught up with him in the.

[A]

Studio to discuss credit and being a creative.

[D]

Congratulations on all your success.

[E]

Thank you so much. I appreciate it.

[C]

Yeah.

[D]

Nah, you've blown up, man. Taking over the world.

[E]

That's the plan.

[D]

Okay, so let's talk about financial anxiety. Yeah. Did you ever have any level of financial anxiety growing up?

[E]

Oh, for sure. I mean, coming from a not so wealthy family, you know, like, there's always been some sort of financial anxiety. I've always been aware of, like, you know, you need to have a job and you need to have like, steady income. So. Yeah.

[D]

So at what point did you realize, like, okay, I got my stride in this situation?

[C]

So, like, are your peers realizing that you have this talent? Does your family know you have this talent? Or is this like, I'm closing the door, I'm in the lab and nobody knows what's going on?

[E]

Well, I'm honest. It wasn't talent in the first place. It was really bad in the beginning. I kept it a secret mainly from my family for a little bit. And then, you know, you can't really hide it. I'm screaming in my room at 2 in the morning trying to make music. With Piers, it was like, you know, a little bit of bullying. You know, I mean, eventually then they were like, yo, he's kind of tough. People usually have this thing where they like, are embarrassed by what they do because they know, like, bad or whatever. But like, I had this full on confidence that I was like, I'm gonna make it. I'm next up. Three years in, I had my first song Reach 100K Plays, which was like huge for me at the time.

[D]

On soundcloud?

[E]

Yeah, on soundcloud. Quit my boba job the next day.

[C]

No more boba.

[E]

Yeah, no more boba.

[C]

There's a mental side of this as well, right? Obviously, if you have to create, there's a pressure to create. This is your livelihood. How are you handling that at such a young age?

[E]

Oh, it's hard. Just the people around me that are also going through the same things that I am. Like, just keeping that kind of company really helps. Do you guys want to hear some new stuff?

[D]

Yeah.

[C]

Yeah. Let's hear it, man.

[D]

Exclusive.

[E]

I started out with just a laptop and a USB microphone. There was a good three years where I was just making really bad music and I didn't think I was. I thought I was awesome. I got denied my first couple of credit cards. You know, I was living with my parents. I had no credit history whatsoever. But as time goes on, you realize more of these things and, like, you realize oh, like I can actually get better at something. And now I'm living my dream, making music and making money off of it. And there's still so much more left to do. We're all on the same journey together and we're gonna get to wherever we need to be as long as we keep going.

[A]

Bigsby's confidence kept him resilient and is fueling his success. And to help Margaret gain the kind of confidence she has in her dancing with her finances, it's clear all she really needs is some trustworthy guidance. All right, let's get into it.

[C]

Do you know the ABCs of how credit actually works?

[B]

No.

[C]

All right, this is important, right? So it breaks down to 100% circle, right? The biggest percentage inside of how to improve your credit is making sure that you have a great payment history. So 35% of your score comes to that, right? So it's important to know your due date. In fact, it's also important to know the reporting date of the financial firm or the institution that is loaning you the credit you always want to pay before them. Because again, it shows you how trustworthy you are that you're able to pay off that debt before they're even asking for it. The next one is the utilization. Utilization rate means how much of the card you're using. Typically they'll tell you to make sure that it stays about 30%. We love to tell people make it 10%. That way you're over performing at that level so that you're more credit worthy, you're more trustworthy.

[B]

So like keeping the lower rate that like makes people more willing to approve you because they think you'll pay.

[C]

Exactly. The next one is the length of your credit, right? So this is about another 15% of your credit score. This is why having an authorized user card helps. Now that you're an authorized user, you get to have the freedom of having the report of their credit now affecting you. Now you have two credit cards with 30 years, they're going to divide it. Now your credit length is 15 years. This is how it works. That's why having an authorized card is so important. But you got to use it. Next one is the mixture of credit. Like how many different places feel that I'm trustworthy to get credit? Yeah.

[A]

To that point, one simple way to improve your chances of getting approved for.

[C]

A first time credit card like Chase's.

[A]

Starter card is to have a Chase checking account open when you apply.

[C]

That is the ABCs. If you can stick to that format. Number one, your credit's gonna improve, but you're also gonna create a credit history for yourself.

[B]

So those two cards that I was denied, do those count against me as derogatory?

[C]

Mark probably has. Only because you were denied. But finding out why you were denied would be the first step. And now you're on the path of building new people. So that authorized user card is super important. Figure out a system of how much we're gonna use, keep that utilization low so you can start building your own, and then in maybe six to eight months, try again and apply.

[B]

Okay. Yeah. I think the way that they laid it out so simply and because it's trustworthy makes it almost easier to understand than, like, information from social media or anywhere else I would get it. I feel like that information just confuses me even more having this. These are your four, your five steps that you need to do. And this is how important they are, what percent they count towards. Your credit score just gives you, like, clear guidance on what to focus on. It's nice to, like, have a plan and just be confident in, like, working towards credit. Credit scores.

[C]

Margaret, man, talk about dreamers.

[D]

I believe in her. You know, coming from Florida to New York City is not easy as a teenager, you know, being rejected from having credit, that's something that, you know, is not usual, you know, now as an authorized user, she can take the stairs as opposed to just having the elevator.

[C]

Yeah. She's extremely courageous. She has the determination to say, I'm gonna make dance work. Which you gotta give her a lot of credit for.

[D]

There you have it. I don't dance, but we can two step, two step our way out of here.

[G]

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