6 Credit Card Myths You Need To Stop Believing

By | Wednesday, March 16, 2016


Let’s face it: credit cards are scary as hell. And even if you’re someone who is good overall with money, it can often feel like just having access to all that extra money — not to mention the constant reminders in your mail that you can have even more — is dangerous. But credit cards aren’t just a source of temptation, and if you can learn to master them, they can be a huge tool for your financial growth. Everyone has the power to use credit to their advantage, even someone like me who formerly used it to her extreme detriment.

But the first step on the path towards Credit Mastery is knowing what is truth and what is myth when it comes to using them. For example, did you know that you have more than one credit score? I certainly didn’t until we spoke to our financial expert last week and asked him some (sometimes embarrassingly basic) questions. And did you know that sometimes opening more cards can actually directly benefit your score? Well, it can, and in this week’s video, we go over exactly how to use all these nuances to your advantage.

So join us as we explore credit cards and dispel myths, so that we can all raise our scores while living better. (And yes, if you absolutely need to, you can freeze your card in a block of ice to avoid temptation — but you can still have one.)

Image via Pexels

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