If you want to buy a car but have a low credit score, you are more likely to get a loan with a low interest rate
False
True
Your credit history is little to none, which makes it difficult to obtain credit moving forward.
Thin File
Bad Credit
Applying for multiple credit cards in a short amount of time so you can manage multiple lines of credit at the same time is a good way to improve your credit score
True
False
What is our coping skill of the day?
Lenders use credit scores to determine whether to grant credit and at what rate.
True
False
“I can’t get my first credit card until I’m 21, the official age of responsibility.”
Myth
Fact
“The more credit cards I have, the higher my credit score will be.”
Fact
Myth (sort of)
“If I make a late bill payment, it’ll be stuck on my credit report for 7 years.”
Fact
Myth
“I need a credit score to get a house (loan)”
Fact
Myth
“I can close an old account to boost my credit score”
Fact
Myth
