10 Things Most Americans Don’t Know About Credit Cards

November 3, 2022

By : Quick Insurance Guru

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Credit cards are so convenient that they are part of daily life for many Americans.

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1. Your Credit Report Shows as Debt-Free If You Pay Your Balance in Full Every Month

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2. Applying For a Store-Branded Credit Card Won't Hurt Your Score

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3. Closing Unused Accounts Raises My Credit Score

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4. You Must Carry a Balance To Improve Your Credit Score

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5. All Credit Cards Charge More or Less the Same Interest Rate

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6. It's OK To Carry a Balance If You're Earning Credit Card Rewards

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7. Paying Off Delinquent Debts Erases Them From Your Credit History

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8. It Never Makes Sense To Pay an Annual Fee To Get a Credit Card

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9. Credit Reports Are Always Accurate

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10. All You Need Is a Single Credit Card