Common Credit Myths Debunked
Join our weekly #CreditChat on Periscope, Huzza.io, Twitter, and Snapchat every Wednesday at 3 p.m. ET. This week, we talked about the most popular credit myths getting spread right now.
The panel included: Jim Akin: Senior Manager of Digital Communications at Vantage Score; Rod Griffin: Director of Public Education at Experian and Mike Delgado: Director of Social Media at Experian.
We also featured financial tips all week on Snapchat.
Questions We Discussed:
- Q1: What is the worst credit myth you’ve ever heard?
- Q2: What information goes into calculating a credit score?
- Q3: Why should someone care about their credit score if they don’t plan to apply for credit any time soon?
- Q4: If someone has had issues with credit in the past, will they have to wait 7 years for their credit score to improve?
- Q5: Is it true that you should carry a balance on your credit card to have a good score?
- Q6: How many credit cards should you have for a good credit score?
- Q7: How often do credit scores change?
- Q8: Are the credit bureaus responsible for granting or denying credit?
- Q9: Do debit cards or prepaid cards help build credit?
- Q10: What’s the best way to rebuild or improve credit?
View Entire Story via Storify:
If you’ve never heard about #CreditChat, here is a brief overview:
Relevant chats on YouTube:
- Ways to Control Emotional Spending
- How to Juggle Debt & Retirement
- How to Pay Down Credit Card Debt Faster
- How to Eat Healthy (Without Breaking the Bank)
- How to Throw a Fun Dinner Party on a Budget
Relevant Articles:
- Credit Myths Debunked: Learning About Credit Misconceptions
- Learning the Basics: Adding in Credit with the Reality Changers
- How is Your Credit Score Determined?
- 11 Credit Myths: Don’t Fall for ‘Em
- Does Everyone Start Out With the Same Credit Score?
- 10 Things You Think Affect Your Credit Score – But Don’t via Wise Bread