Get the Real Scoop on Credit

so that we can help make handling your personal finances a whole lot easier.

Get the Real Scoop on Credit

Chapter 2: Impacts to Your Credit: Inquiries, Cash, and Income

This chapter is all about getting to the heart of the matter. So many credit myths are floating around out there that it’s hard to know what to believe, let alone what you should do. 

This conversation identifies a dozen credit facts and myths to help you gain understanding and learn how to manage your credit. Credit Myths: Discredited Worksheet answers the credit myths so you don’t need to remember all of them from the video. 

Video Transcript

Credit Myths

  • Paying on time helps improve your credit score.
  • You need to carry a balance to have a good credit score.
  • You should always cancel credit cards you don’t use.
  • Applying for a credit card can hurt your credit score.
  • Paying cash for everything will improve your score.
  • Your income has an impact on your credit score.
  • You can rebuild a poor credit history.
  • Your credit can prevent you from getting a job.
  • Credit repair companies can erase bad marks on your credit report.
  • Your credit report always includes your credit score.
  • All credit reports are the same from each major bureau.
  • A credit report merges with your spouse when you marry.

Your Chapter 2 Checklist:

Chapter 3: Rebuilding Credit Potential Jobs and Corrections Next Step

Practical Ways to Build Your Credit
Make the moves necessary to successfully improve your credit score. See how to do it here.