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.
For more finance tips go cypruscu.com