5 on Your Side

Common misperceptions can hurt your credit score

Posted May 17
Updated May 18

Let's say you have $1 million in the bank, but no credit history. Are you GUARANTEED a credit card when you apply? No, you're not!

It's one of many common misconceptions involving your credit history and the all-mighty FICO, or credit score.

Your credit score follows you everywhere, impacting everything from insurance rates you pay, to utility deposits, even whether you land a job!

Thursday at 5 on WRAL-TV, we'll sort through the misunderstandings and lay out the four best ways to boost your score.

We'll also show you what you need to know about children and credit. Yes — very young children can already have bad credit. We'll tell you what's behind it, and what parents need to do about it.

See you Thursday at 5!

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About this Blog:

In addition to the stories you see on TV, Monica is always looking for ways to help consumers find deals and avoid fraud. She'll blog about what you need to know here.