10/29/2026
Trying to improve your credit? 💳
Be careful which advice you follow.
Some of the most common credit tips people swear by can actually work against you. And when you're preparing to buy a home, even small credit mistakes can create unnecessary setbacks.
Here are 5 credit myths worth leaving behind:
❌ "I should close old credit cards I don't use."
✅ Keep older accounts open whenever it makes sense. Long-standing accounts can help strengthen your credit history and available credit.
❌ "Carrying a balance helps build credit."
✅ Focus on making on-time payments and managing balances responsibly. Paying interest doesn't improve your credit.
❌ "Checking my own credit hurts my score."
✅ Review your credit regularly. Checking your own credit is typically considered a soft inquiry and generally doesn't impact your score.
❌ "700 is the only number that matters."
✅ Focus on putting yourself in the strongest position possible. Even small score improvements can make a difference depending on your situation.
❌ "The score in my banking app is the same score used for home financing."
✅ Understand that different scoring models exist. The score you see online may not be the same score reviewed during the lending process.
The biggest credit mistakes usually come from good intentions.
Before making major credit decisions, make sure you're working from accurate, up-to-date information, not advice that's been passed around for years.
SAVE this for future reference.
SHARE it with someone working on their credit.
FOLLOW for practical home buying and financial education.
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