Many credit card holders mistakenly believe that carrying a balance and paying interest is necessary to build or maintain a high credit score. This is a persistent myth, despite the efforts of financial experts to dispel it.
This belief is often likened to a resilient pest in the world of personal finance. Experts repeatedly attempt to eradicate this misconception, but it continues to endure.
I’m referring to the flat-out wrong belief that you need to carry a balance on your credit card to build or maintain an excellent credit score.