Separating Facts and Myths About Credit Reports and Scores

Our weekly #CreditChat started in 2012 to help our community learn about credit and important personal finance topics (e.g. saving money, paying down debt, improving credit scores). Each chat is hosted by @Experian on Twitter and all are welcome to participate. DM us any questions.

This week, we’ll debunk common misconceptions about credit reports.

Topic: Separating Facts and Myths About Credit Reports and Scores

When: Wednesday, July 7, 2021 at 3 p.m. ET.

Where: Twitter chatroom or join the live hashtag discussion.

The panel will include: Patrina Dixon: Personal Finance Expert and Author, It’$ My Money; Leslie H. Tayne, Esq: Founder and Managing Director of Tayne Law Group, P.C. (f/k/a The Law Offices of Leslie H. Tayne, P.C.); Beverly HarzogCredit Card Expert and Consumer Finance Analyst for U.S. News; Lawrence D. Sprung: CFP® President of Mitlin Financial, Inc.; Rod Griffin: Senior Director, Consumer Education and Advocacy, Experian and Christina Roman: Consumer Education and Advocacy Manager at Experian.

Gift Card Giveaway

Enter here for a chance to win a $50 Amazon gift card! We will be announcing a winner at the end of the chat. Entry Period: Raffle open now and closes at the end of this chat at 4 p.m. ET. Complete rules here.

Questions We’ll Discuss:

  1. What are some common myths about credit reports? 
  2. Fact or Fiction: Credit scores are part of a credit report. Why or why not? 
  3. Fact or Fiction: Variations in your name, social security number, or address are not errors in your credit report. Why or why not? 
  4. Fact or Fiction: Bankruptcies are deleted when they are discharged. Why or why not? 
  5. Fact or Fiction: A divorce decree will remove your responsibility for paying a debt. Why or why not? 
  6. Fact or Fiction: Your credit score can keep you from getting a job. Why or why not? 
  7. Fact or Fiction: Closing your credit card accounts can hurt your credit scores. Why or why not? 
  8. Fact or Fiction: You should always leave a small balance on your credit cards to help your credit scores. Why or why not?  
  9. Fact or Fiction: Inquiries can cause you to be declined. Why or why not? 
  10. Fact or Fiction: Your new spouse’s credit report will be merged with yours after marriage. Why or why not? 
  11. Fact or Fiction: You have three credit scores. Why or why not?  

Check out our complete list of upcoming personal finance Twitter chats here.