7 Credit Score Myths Costing North Miami Consumers Thousands
Checking your own credit does NOT hurt your score. That myth alone costs North Miami buyers a fortune. Here are six more.
Myth 1: Checking my credit lowers my score
Soft pulls (you, employers, prequal offers) do nothing. Only hard pulls from lender applications ding you.
Myth 2: I need to carry a balance to build credit
False. Pay in full every month. The card issuer reports the statement balance regardless.
Myth 3: Closing paid cards helps my score
It hurts — you lose credit line and length of history simultaneously.
Myth 4: Disputing hurts my score
It doesn't. Disputes are a federally protected right and appear nowhere on your report.
Myth 5: Once it's paid, it comes off
Paid collections still sit on your report for 7 years unless you negotiate a deletion.
Myth 6: All three bureaus report the same info
Nope. About 30% of files have differences between Equifax, Experian, and TransUnion — always pull all three.
Myth 7: A cosigner shares my credit history
They share liability, not history. Their late payments show on YOUR report if they miss.