Do you know the truth about credit?

This week, we’re tackling common credit myths. Falling for for these can really hurt your credit (and your wallet).

Myth 1: Carrying a Balance Boosts Your Credit Score

Probably the most common myth we still hear. But false! Carrying a balance means paying interest and the higher credit utilization ratio (credit used vs. credit limit) actually hurts your score. Here is why this myth persists and what you should do instead.

But that’s not all! Two more credit myths continue to cost people money.

Does checking your credit hurt your score? Find out here.

Is closing a paid-off credit card a smart move? The answer might surprise you.