True or false?
Bust the myths.
The credit myths that quietly cost people money. Tap your answer and learn the truth.
1Checking your own credit report lowers your score.
False. Checking your own report is a "soft" inquiry and never affects your score.
2Carrying a small balance month to month helps your score.
False. You can pay in full and still build credit. Carrying a balance just costs you interest.
3Closing an old credit card can hurt your score.
True. Closing a card lowers your available credit (raising utilization) and can shorten average account age.
4You have one single credit score.
False. There are many models (FICO, VantageScore) and three bureaus, so you have many scores.
5Paying off a collection always deletes it from your report.
False. A paid collection can remain, though newer models weigh it less. You can request deletion, but it is not guaranteed.
6Your income is part of your credit score.
False. Income is not in your credit score, though lenders may consider it separately.
7You can dispute accurate information just to remove it.
False. You may dispute information you believe is inaccurate, incomplete, or unverifiable—not accurate items just to game the system.
Educational only. These activities explain how credit and consumer-protection laws generally work. They are not legal or financial advice, and no outcome is guaranteed. For your own case, use your secure portal or speak with a qualified professional.