<p>When it comes to credit, misinformation spreads faster than the truth. Many people make decisions based on outdated myths that hurt their financial progress. It’s time to separate fact from fiction.</p><p>Here are <strong>five common credit myths</strong> you should stop believing today—brought to you by the experts at <strong>Laced Up Financials</strong>.</p><h3 id="53afc988-e183-4b75-9e7a-d18b96cbf156" data-toc-id="53afc988-e183-4b75-9e7a-d18b96cbf156" style="font-size: 20px; font-weight: 600; line-height: 1.2;"><strong>Myth #1: Checking Your Credit Hurts Your Score</strong></h3><p>False! Soft inquiries—like checking your own credit—don’t impact your score. Only “hard pulls” from lenders can cause minor dips.</p><h3 id="c3a7ff3c-9373-4358-bbff-0107a63fa8e4" data-toc-id="c3a7ff3c-9373-4358-bbff-0107a63fa8e4" style="font-size: 20px; font-weight: 600; line-height: 1.2;"><strong>Myth #2: You Must Carry a Balance to Build Credit</strong></h3><p>Wrong. Paying your balance in full each month is best. Carrying debt only leads to interest charges and a higher utilization ratio.</p><h3 id="b630d56b-8ce7-4c50-b500-878373be96b6" data-toc-id="b630d56b-8ce7-4c50-b500-878373be96b6" style="font-size: 20px; font-weight: 600; line-height: 1.2;"><strong>Myth #3: Closing Old Accounts Helps Your Score</strong></h3><p>Actually, closing accounts can reduce your credit history length and hurt your score. Keep older accounts open when possible.</p><h3 id="fb299e65-14af-4cfe-a6fd-fec176a6658f" data-toc-id="fb299e65-14af-4cfe-a6fd-fec176a6658f" style="font-size: 20px; font-weight: 600; line-height: 1.2;"><strong>Myth #4: Paying Off Collections Removes Them Immediately</strong></h3><p>Not necessarily. Paid collections can remain on your report for up to seven years unless successfully disputed.</p><h3 id="12a28bc4-0833-4840-842a-37dd5c42cc83" data-toc-id="12a28bc4-0833-4840-842a-37dd5c42cc83" style="font-size: 20px; font-weight: 600; line-height: 1.2;"><strong>Myth #5: Your Income Affects Your Credit Score</strong></h3><p>Your credit score measures debt management, not income level. Even high earners can have poor credit if they misuse credit.</p><p>At <strong>Laced Up Financials</strong>, we help you understand the truth about credit and build healthy habits that lead to real results. Don’t let myths hold you back—let us guide you toward lasting financial success.</p>

Stop believing credit myths! Laced Up Financials reveals the truth behind common misconceptions so you can take control of your financial health.

5 Common Credit Myths You Need to Stop Believing

Myth #1: Checking Your Credit Hurts Your Score

Myth #2: You Must Carry a Balance to Build Credit

Myth #3: Closing Old Accounts Helps Your Score

Myth #4: Paying Off Collections Removes Them Immediately

Myth #5: Your Income Affects Your Credit Score

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5 Common Credit Myths You Need to Stop Believing

5 Common Credit Myths You Need to Stop Believing

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