7 Credit Myths That Are Hurting Your Score

By Novaz Credit – Helping You Build a Better Financial Future

❌ Myth 1: Checking your own credit score will hurt it.

✅ Truth: This is called a “soft inquiry,” and it has zero impact on your score. Only “hard inquiries,” like when you apply for a loan or credit card, can cause a slight dip.

❌ Myth 2: You need to carry a balance to build credit.

✅ Truth: Nope! You do not need to carry debt month to month. Paying off your credit card in full every month is actually the best way to build credit and avoid interest.

❌ Myth 3: Closing old accounts helps your score.

✅ Truth: Closing old accounts can shorten your credit history and hurt your score. If there’s no annual fee, keep old accounts open to show long-term responsibility.

❌ Myth 4: You only have one credit score.

✅ Truth: You actually have dozens of credit scores from different bureaus and scoring models (like FICO 8, VantageScore, etc.). What lenders see can vary.

❌ Myth 5: Paying off collections removes them from your report.

✅ Truth: Paying off a collection doesn’t automatically delete it. It can remain on your report for up to 7 years unless it’s removed through credit repair or disputes.

❌ Myth 6: You can’t fix credit without a lawyer.

✅ Truth: You don’t need a lawyer. With the right knowledge (or a professional team like Novaz Credit), you can dispute errors, negotiate, and rebuild your score yourself.

❌ Myth 7: Once you have bad credit, it’s over.

✅ Truth: False! Bad credit is temporary—if you take action. We’ve helped clients go from the low 500s to the 700s in just a few months with the right steps.

💡 Final Thoughts:

Don’t let these myths hold you back. The truth is, credit can be fixed, but only if you know how it really works.

👉 Need help clearing up your credit confusion?
Book a FREE consultation with Novaz Credit today and let’s start rebuilding your financial future.