Credit Bureaus: Myths and Facts
There is a lot of misinformation that keeps people from building strong credit. It’s time to separate fact from fiction.
- Myth: Credit bureaus are only for “defaulters”. Fact: It’s your financial resume, and you want to be on it with a good history.
- Myth: Income and savings determine your score. Fact: Your score reflects your borrowing habits, not your wealth.
- Myth: Using cash is always safer. Fact: Without using credit, you have no history, making it impossible to get a home or car loan later.
Watch this video to bust the remaining myths and take charge of your financial story.