7 Credit Misconceptions and Myths Debunked

1
Paying-with-cash-blog
Blog.penfed.org

2. Paying with only cash will help your score

This is false – the only way to establish and build credit is by using credit accounts. Using cash and debit cards might be good if you are learning to budget a little better, but if you are building credit – you need to demonstrate that you are financially responsible and can manage your credit. You have to use credit to build positive credit history.