Credit scores are confusing. You can pay off your student loans and see your credit score drop. You can add significant credit card debt and see your score soar. It’s no wonder there are so many misconceptions about how to build or improve credit.
Many of these credit myths are accepted as truth by a significant portion of Americans — maybe even you. And they can be costly.
Click through the gallery for three credit myths that are especially damaging.
[custom_gallery
[See: 12 Habits to Help You Take Control of Your Credit.]
[See: 12 Simple Ways to Raise Your Credit Score.]
[See: What to Do If You’ve Fallen (Way) Behind on Your Credit Card Payments.]
More from U.S. News
10 Completely Careless Credit Card Mistakes You’re Making
10 Offbeat Ways to Earn Extra Money
Credit Myths That Cost You Money originally appeared on usnews.com