It’s that time again – Myth Thursday is here!
Each week, we’re breaking down popular money myths so you can make confident, informed financial choices.
Myth: Carrying a balance on your credit card improves your credit score.
Truth: Carrying a balance doesn’t help your credit score - but paying your balance in full each month is a good way to build credit without paying interest.
Here’s the deal:
Credit scoring models actually reward you for responsible use, not for how much debt you carry. When you pay your balance in full and on time, you show lenders you’re reliable - without racking up interest charges.
Pro Tip: Aim to pay your balance in full each month if you can. This helps you avoid interest charges while building a strong credit history.
Want to learn more? Check out this insightful article from Equifax on how paying off your credit card balance helps your score: 
Read more here
What’s a credit myth you used to believe? You’re not alone, drop it below and let’s learn together. 