Len & Carol Hoare

• You should avoid using credit cards it will hurt your credit: FALSE
• As long as you pay off your credit card each month your credit score will go up: FALSE

It’s best to keep your credit cards at less than 30% of available credit and to pay at least the minimum amount each month.  Do not pay your credit card bill on the day it is due, it can take up to 3 to 4 days to process the payment making it look as if your were late with your payment.

More Myths:

• Closing credit cards will help your credit score: FALSE
• Consolidating all your credit cards will increase your credit score: FALSE
• Your divorce decree protects your credit score: FALSE
• Your income makes a difference to your credit score: FALSE

- Len Hoare