5 Credit Repair Myths That Are Keeping You Stuck

5 Credit Repair Myths That Are Keeping You Stuck

Let’s be real credit can be confusing. There’s so much misinformation out there that it’s hard to know what’s fact and what’s fiction. I’ve heard all kinds of wild claims about credit repair, and unfortunately, believing the wrong things can keep your score stuck in the gutter.

So today, I’m clearing the air. Let’s break down five common credit repair myths that might be holding you back from improving your financial future.

Myth #1: Checking my credit score will hurt my score.

This is one of the biggest myths out there, and I hear it all the time. Checking your own credit score, also known as a soft inquiry, DOES NOT hurt your credit. You can (and should) check your score regularly to monitor changes and catch any errors.

Now, what does impact your credit is a hard inquiry, which happens when a lender pulls your credit for a loan or credit card application. But even then, a single hard inquiry typically drops your score by just a few points. The real problem is multiple hard inquiries in a short period, so be strategic about applying for new credit.

Myth #2: I have to carry a balance to build credit.

Nope, not true. Carrying a balance does nothing but cost you money in interest. What actually matters is your credit utilization, the percentage of your available credit that you’re using.

Keeping your utilization below 30% is ideal, but if you really want to boost your score, aim for under 10%. That means if you have a $1,000 credit limit, try to keep your balance under $100. And always pay your statement balance in full when possible to avoid unnecessary interest charges.

Myth #3: Closing old credit cards will boost my score.

I know it might seem logical, if you’re not using a credit card anymore, closing it should help, right? Wrong. Closing a credit card can actually hurt your score in two ways:

1. It shortens your credit history. The length of your credit history makes up 15% of your score. The longer your accounts have been open, the better.

2. It increases your credit utilization. If you close a card with a high limit, your total available credit drops, which can raise your utilization percentage.

Instead of closing an old card, consider keeping it open with a small recurring charge (like a subscription) to keep it active.

Myth #4: I can pay to have negative items removed from my credit report.

Listen, there are companies out there that will promise to erase negative marks from your credit report for a fee. But the truth is, if the negative information is accurate, no one can legally remove it.

However, if there’s an error on your report (like a mistaken late payment or an account that isn’t yours), you do have the right to dispute it and have it removed. The best way to repair your credit is by paying your bills on time, lowering your debt, and making smart financial decisions over time. There are no shortcuts, just real strategies that work.

Myth #5: Credit repair is impossible, I’ll never have good credit.

If you’ve ever felt like this, trust me, I get it. Bad credit can feel overwhelming, and it’s easy to think you’ll never get ahead. But I’m here to tell you that credit repair IS possible, and you have more control than you think.

By understanding how credit works, taking small steps to improve your habits, and staying consistent, you can turn your credit around, no matter how bad it is right now. I’ve done it myself, and I’ve helped others do it too.

If you’re ready to start fixing your credit the right way, I put together an easy-to-follow, step-by-step guide to help you do just that. No fluff, no scams, just real results.

Grab one of our ebooks today and start your credit repair journey!

Credit repair isn’t about tricks or quick fixes, it’s about knowledge and smart financial decisions. Don’t let these myths hold you back. Take control of your credit, and start building the future you deserve.