The Credit Myths That Cost You

Welcome to our series on financial myths! This week, we’re clearing up two big credit misconceptions.

Myth 1: Checking Your Credit Hurts Your Score

Some people avoid checking their credit report out of fear it will damage their score. But regularly checking your report is a smart, crucial step to monitor for errors or potential identity theft.

Find out exactly how to check your credit report (including how to do it for free) and why it’s a key part of financial wellness.

Myth 2: Carrying a Balance Helps Your Score

Think keeping a small balance on your credit card helps your credit? You’re not alone. This common practice actually costs you money in interest and can negatively impact your score by raising your credit utilization ratio.

Read the full story on why this myth persists and the best way to handle your credit cards.