Having a good credit score is important to your financial health. Â It enables you to get more credit, receive better interest rates on loans and credit cards and increases your purchasing power. Â However, there are some common credit card myths floating around that contrary to the belief, can actually hurt your credit score.
- Relying exclusively on a debit card
- Carrying a small balance each month on your credit card
- Decline a credit limit increase
- Cancel some credit cards
To learn more about why these are myths, visit MentalFloss.com and read their article: 4 “Smart” Credit Moves That Are Actually Dumb