Some bad advice you receive is NBD, honestly. Those bangs your best friend swore would look great on you will eventually grow out after an awkward phase. And maybe one day Dad’s method of filling out a March Madness bracket based on team mascots will actually pay off.
But then there’s some bad advice that qualifies as a VBD—yes, a very big deal because it concerns your financial well-being.
Establishing and maintaining a solid credit score isn’t just key when it comes to qualifying for a good interest rate on a credit card. That almighty three-digit number attached to your identity can determine whether you need to put down a security deposit on utilities and if you can qualify for a mortgage (and do so at a low interest rate). So, when you get dealt some bad credit advice, yeah, it can sting.
Here, finance experts reveal some of the worse nuggets of credit advice they’ve heard—and share what to do instead: