There’s a lot of false information out there, but Georgia consumers should know the truth behind these popular credit score myths.

Georgia consumers may find it difficult to separate fact from fiction when it comes to credit scores. After all, there is a lot of information out there concerning credit reports and credit scores. Unfortunately, though, not all of it is accurate. This means that, in attempting to get the best credit score possible, some consumers in Georgia make mistakes because they are misinformed. Buying into popular credit score myths, they unintentionally do more harm than good. However, the right information from reliable sources can help Georgia consumers debunk common credit score myths. They can then move forward with the best possible plans for building, rebuilding, or maintaining good credit scores.

No Georgia Consumer Should Believe These Five Common Credit Score Myths

A lot of consumer in Georgia fall for certain credit score myths because they seem accurate, and because so many other consumers believe in them. Yet, sometimes conventional wisdom isn’t all that wise. With this in mind, here are a few of the most popular myths currently circulating about credit and credit scores.

You should always carry at least a small balance on your credit cards.

Many Georgia credit card users mistakenly think that they have to always carry balances in order to actually use credit. But this just isn’t true. Actually, paying credit card balances in full every month helps credit scores. This is because 30% of your credit score is based on your utilization ratio – how much of your available credit you’re using right now. Typically, consumers with lower utilization ratios have higher credit scores. Also, paying off credit card balances instead of rolling them over saves you from paying interest charges.

Georgia consumers with higher income have higher credit scores.

Too many people live with the common misconception that there is a correlation between their credit scores and how much money they make. They think that there’s no point in working to improve their credit scores until they have higher paying jobs. Yet, your income technically has nothing to do with whether you have a high or low credit score. Granted, Georgia consumers with higher incomes may struggle less to keep up with bills, and late payments can hurt credit scores. However, no well-known credit scoring model uses income as a factor to calculate credit scores.

Closing unused credit cards automatically boosts credit scores.

Keeping credit cards that you no longer use may seem extraneous, especially if they come with annual fees. Yet, closing these accounts often isn’t always the best plan for consumers in Georgia. Instead of helping your credit score, closing credit card accounts can actually cause it to drop. For example, if an account is older and established, closing it reduces the overall age of your credit history. In addition, by removing a credit card, you reduce the amount of your available credit. This can raise your credit utilization rate and lower your credit score.

Consumers in Georgia who avoid credit altogether have good credit scores.

Some Georgia consumers believe that those with the best credit scores are individuals who never take out credit cards or loans. And, while it is true that those who never use credit don’t have bad credit, having no credit isn’t the same as earning good credit. In fact, having no credit history is almost as inconvenient as having bad credit. This is because, if you need to finance a large purchase, lenders may deny your application because they can’t determine whether or not you’re a credit risk. The truth is that only those who use credit, and use it responsibly, build good credit scores.

Checking your own credit hurts your credit score.

A lot of Georgia consumers understand that applying for loans and credit cards causes hard inquiries to appear on their credit reports. These hard credit report inquiries cause credit scores to temporarily drop by a few points. Knowing this, they avoid checking their own credit reports and credit scores because they think the same thing will happen. Fortunately, however, this isn’t true at all. Instead, when you check your own credit, it is considered a “soft credit pull.” So, luckily, it has no impact on your credit score whatsoever.

In fact, all consumers in Georgia should check their credit reports at least once every 12 months. This is how frequently the Fair and Accurate Credit Transactions Act (FACTA) allows you to request a free copy of your credit report from each of the three major credit bureaus. Just go to to get credit reports from TransUnion, Equifax, and Experian all in one place.

When you have access to your credit reports, look them over carefully for errors and signs of identity theft. Then, if you spot fraudulent accounts or bogus transactions, file a police report immediately. Next, contact Credit Repair Lawyers of America. If, on the other hand, you spot credit score damaging errors created by creditors and the credit bureaus, call Credit Repair Lawyers of America right away.

When you contact our firm, an experienced credit attorney will fix your credit issues and get you clean credit reports – for free. No matter what we have to do to get errors or identity theft damage off your credit reports, you never pay anything out of pocket for the work we do.

The Free and Legal way to Get Better Credit in Georgia

Don’t let identity theft damage or errors on your credit reports bring your credit score down. At Credit Repair Lawyers of America, we’ve been cleaning up credit reports for consumers since 2008 for free. How do we do it? All of our fees come from the defendants in settled cases. This is why our clients pay nothing for the work we do.

Let’s start the conversation about what we can do for your credit. Set up your free consultation today by calling Attorney Gary Nitzkin at (404) 591-6680 or sending him a message through our contact page.

For more information about Free Credit Repair, please visit Or, for more information about Free Credit Repair After Identity Theft, check out