Most Common Myths About Credit Cards
Credit cards have become a universal financial tool that many people rely on for everyday purchases, from travel bookings to groceries. However, despite their popularity, there are still many misconceptions and myths about credit cards that persist. In this article, we’ll explore some of the most common myths about credit cards and debunk them, providing you with accurate information so you can make informed decisions about your finances. Common credit card myths: Myth 1: Applying for a credit card will hurt your credit score One of the most persistent myths about credit cards is that applying for a new one will damage your credit score. This isn’t entirely true. While it’s true that every credit card application will generate a hard inquiry on your credit report, which can temporarily lower your score by a few points, the effect is typically minor and temporary. Moreover, the long-term impact on your credit score is more significant and can be positive if you make your payments on