If you’ve ever carried a balance on a credit card thinking it would help your credit score, you’re not alone.
About 43 million Americans, which is 22 percent of credit card users, have carried a balance to improve their credit score, according to a new CreditCards.com report. The report surveyed 1,000 adults across the United States in June.
Unfortunately, carrying a balance is not one of the five main criteria that makes up a credit score, though how close you come to your spending limit is.
“This is the cockroach of finance myths,” said Matt Schulz, senior industry analyst at CreditCards.com. “Impossible to kill.”