Find credit cards confusing? Debunk these 7 myths to enjoy using them

Dubai: Many misconceptions about credit cards can impact your ability to manage them effectively. Understanding the truth behind these myths is key to making informed financial decisions. Here’s a breakdown of seven common myths and the reality behind them.

Myth #1: A new card only affects your credit once you start using it
A common belief is that a new credit card affects your credit score only when you begin using it. In reality, applying for a new card triggers a credit inquiry, which impacts your score, whether or not you use the card. Too many inquiries can harm your credit, so make sure to apply for new credit only when necessary.