The Truth About Credit: Debunking Common Credit Myths 

Our weekly #CreditChat started in 2012 to help our community learn about credit and important personal finance topics (e.g. saving money, paying down debt, improving credit scores). Each chat is hosted by @Experian on X (formerly Twitter) and all are welcome to participate. DM us any questions.

Join us for our fourth #Creditchat of Financial Literacy Month! We’ll be debunking common credit myths with expert panelists in this week’s chat. Don’t miss out on this engaging and informative conversation!

Topic: The Truth About Credit: Debunking Common Credit Myths

When: Wednesday, April 23, 2025 at 3 p.m. ET.

Where: Join the live hashtag discussion

The panel will include: Jeanne Kelly: Credit expert, identity theft expert, speaker and founder of JeanneKelly.net; Gabrielle Olya:Lead Writer and Editor at GoBankingRates.com; Ilyce Glink:Real Estate and Financial Wellness expert, author, speaker, entrepreneur and founder ofThinkGlink.com; Danielle YB Vason: Founder of SheMakeCents.com; American Consumer Credit Counseling; Rod Griffin: Senior Director, Consumer Education and Advocacy, Experian; Jennifer White: Consumer Education and Advocacy Team, and Christina Roman: Consumer Education and Advocacy Manager at Experian.

Gift Card Giveaway
Enter here for a chance to win a $50 Amazon gift card! We will be announcing a winner at the end of the chat. Entry Period: Raffle open now and closes at the end of this chat at 4 p.m. ET. Complete rules here.

Questions we will discuss:

1. What are the most common sources of credit myths?
2. How do social media platforms contribute to the spread of credit myths, and what are some ways to counteract this misinformation?
3. What do you think are the most prevalent credit myths, and how are they harmful for individuals who may not understand credit well?
4. Is there a particular credit myth you encounter that often confuses people, even those with solid financial knowledge?
5. Many believe checking your own credit report or credit score often can harm it, which is false. What is your favorite way to stay informed about what’s in your credit history?
6. Many people believe that they should carry a credit card balance month to month to improve their score, which isn’t true. What are some real strategies to build credit?
7. How can credit myths disproportionately affect younger consumers, and what is the best approach to guide them through credit decisions?
8. Some people think that not using credit at all is the best way to protect their score. How can credit experts debunk this myth, and what can consumers do instead?
9. There are hundreds of credit scores depending on the type of lender or type of lending.  How can understanding there are different scores help debunk common credit myths? 
10. What’s one piece of credit advice you wish everyone knew, and how can consumers recognize credit myths and avoid the damage and frustration they can cause?

Check out our complete list of upcoming personal finance Twitter chats here.