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Credit Myths

Six Credit Myths That Cost People Money

Myth: checking your own credit report lowers your score. Reviewing your own file is generally treated differently from a lender's inquiry.

Myth: carrying a balance builds credit. Paying as agreed is what is reported; interest paid is not a scoring benefit.

Myth: a company can legally remove accurate, verifiable information. It cannot, and any company promising that should be avoided.

This article is educational information, not legal or financial advice. Results vary by credit profile and no specific outcome is guaranteed.