Skip to content


Previous article
Now Reading:
Debunking Credit Score Myths: 3 Lies You Shouldn't Believe

Debunking Credit Score Myths: 3 Lies You Shouldn't Believe

Understanding what goes into your credit score is crucial for maintaining or improving it, but there's a lot of misinformation out there that can lead you astray. One common myth is that checking your own credit report will hurt your credit score. This is not true; hard inquiries from lenders can slightly lower your score, but pulling your own report has no impact. Another misconception is that making minimum payments on credit cards will keep your credit score stable. While timely payments are good, they don't address your credit utilization ratio, which should stay below 30% to avoid score drops. Lastly, some believe that a higher income automatically leads to a higher credit score. Your credit score is based on your credit history and not your income level. Paying bills on time and keeping credit balances low are key actions for a good credit score, irrespective of your earnings. Knowing the truth behind these myths can help you make better financial decisions and maintain a healthy credit score.

Read the full article here.



Your cart is currently empty.

Start Shopping

Select options