06/28/2012 10:10 am ET Updated Aug 28, 2012

7 Credit Myths Even Smart People Believe

Everybody knows how important it is to maintain good credit, but a lot of people don't know how. Some think it's necessary to revolve a credit card balance to get a higher score or don't know the impact of checking their own credit. Even people who consider themselves financially savvy or who do a fine job managing their own household budgets can be misinformed.

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