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Funding your Future: Credit Myths

Posted at 2:43 PM, Jun 14, 2017
and last updated 2017-06-14 16:45:40-04

Rachel Langlois, our financial expert from Cyprus Credit Union, shared some credit myths that you need to be aware of:

1. No need to check my credit - I pay on time

2. It hurts my score to check my report

3. Paying off a debt will remove it from my report.

4. Only one entry per debt.

5. Canceling an old card will hurt my credit history.

6. Hiring a credit repair company will fix my reports instantly.

7. When I get my free credit report, I`ll also get a free score.

8. Little debts, like outstanding library fines and parking tickets, don`t count.

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