Cash course helps debunk credit card myths

Cash course is a financial education website that covers different topics of interest to students. One of the topics covered on the website includes the debunking of credit card myths. According to cash course, one of the most popular myths is that opening multiple credit cards at once will get you a good credit score and closing your unused credit accounts at once will strengthen it. Many people believe these myths to be true, but contrary to popular beliefs multiple credit cards can only help you if you manage them properly. Exceeding over 30% of your limit can make you seem like a risky borrower so making sure you consistently pay off your balance each month, don’t exceed your limit and rotate the multiple cards you’re using can help you avoid hurting your credit score. Opening new lines of credit can temporarily knock points off your credit score, so utilizing them wisely is important. The span of time you hold a credit card is also important because it is a part of your credit history, so closing multiple cards at once will wind up shortening your credit history and could hurt your score. Planning ahead and making sure you are using your credit cards in a responsible way can help you in the long run and increase your score. For more information on credit card myths, visit