10 Myths About Credit Scores That Could Hurt You!

Credit scores can feel like gossip—everyone has an opinion, but not everyone is right. Let's debunk some myths that might be messing with your financial decisions.

## 1. "Checking my score will lower it!"
Nope. You can check your own score a hundred times—no one cares. That's called a soft inquiry.

## 2. "Closing old accounts boosts your score."
Actually… the opposite. Old accounts give your credit history length. Don't close them unless you have a good reason.

## 3. "You must carry a balance to improve your score."
Banks would "love" if that were true. But you don't need to pay interest to prove you're responsible.

## 4. "Your income affects your score."
You could earn 20,000 taka or 2 crore taka—the score only cares about how you use credit, not how much you earn.

## 5. "Paying off a loan always increases your score."
Sometimes your score dips a little because the account closes. Don't worry—it's temporary.

## 6. "All debt is the same."
Credit card debt hits harder than a home loan or student loan.

## 7. "Everyone has only one credit score."
Nah. You have multiple scores from multiple credit bureaus.

## 8. "Using a debit card builds credit."
Your debit card isn't reported anywhere. It helps your finances, not your score.

## 9. "Negative marks stay forever."
Thankfully, they fade after about seven years.

## 10. "A high score guarantees loan approval."
Lenders also check income, job stability, and existing debt.

The more myths we bust, the easier it becomes to take control of your financial life.