{"id":57835,"date":"2025-09-10T09:15:04","date_gmt":"2025-09-10T13:15:04","guid":{"rendered":""},"modified":"2025-09-10T09:15:06","modified_gmt":"2025-09-10T13:15:06","slug":"5-myths-about-your-credit-score","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-myths-about-your-credit-score\/","title":{"rendered":"5 Myths about Your Credit Score"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">5 Myths about Your Credit Score<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Royal Bank of Canada<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"878\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Image showing a young woman paying bills with a credit card\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg 1190w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?resize=300,257 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?resize=768,658 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?resize=1024,878 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=5 Myths about Your Credit Score &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-myths-about-your-credit-score\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-myths-about-your-credit-score\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published September 10, 2025 \u2022 6 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block drop-shadow pos-rel top-line-blue block-wpr\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<h4 class=\"wp-block-heading\" id=\"h-tldr\">TLDR<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Checking your own score doesn\u2019t affect it.&nbsp;Do check it regularly to keep tabs on where your credit stands.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Don\u2019t close old credit cards; doing so can lower your score&nbsp;by increasing credit utilization (a calculation that measures how much of your credit you\u2019re tapping into).<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Your income doesn\u2019t affect your credit score.&nbsp;Lenders may use it, but it isn\u2019t factored into your score.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>You don\u2019t need to carry a balance to build credit.&nbsp;Pay off your cards to avoid interest and maintain a good utilization rate.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Your credit score may vary between the two major credit reporting agencies.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>Everyone has heard about credit scores, but how many people really know about the impact they can have on their lives? The answer is likely not many. From how they are calculated to what does and doesn\u2019t impact these numbers, there are many misconceptions about how credit scores work in Canada. But whether you\u2019re buying a new home, applying for a loan or renting an apartment, this three-digit figure can play a big role in your financial life. Let\u2019s debunk five of the most common credit score myths so you can improve your financial health.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-credit-score\">What is a credit score?<\/h2>\n\n\n\n<p>When you borrow money, whether for a car loan, a mortgage, a credit card or a line of credit, your lender wants to know how reliable you\u2019ll be at paying it back. They make that determination by looking at your credit score: a number between 300 and 900, which takes several things into account, such as how much debt you have outstanding, the types of credit you\u2019ve applied for over your lifetime, like a car loan or line of credit, the number of credit applications you\u2019ve made and more.&nbsp;<\/p>\n\n\n\n<p>While credit-scoring models vary, scores between 660 and 724 are generally considered <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/good-credit-score\/\" target=\"_blank\" rel=\"noreferrer noopener\">good<\/a>, 725 to 759 are considered very good and 760 to 900 are considered excellent. The score isn\u2019t a fixed number, it changes based on your <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/6-ways-to-rebuild-your-credit-score\/\" target=\"_blank\" rel=\"noreferrer noopener\">borrowing and repayment activity<\/a>. Lenders also set their own rules for how they interpret your credit score.<\/p>\n\n\n\n<p>Those with good scores can often borrow money at better interest rates than those with poorer credit. They also tend to get accepted for more loans and can borrow more money. Credit scores can even influence whether a landlord will let you rent their property.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-myth-1-checking-your-own-credit-score-can-lower-it\">Myth #1: Checking your own credit score can lower it<\/h2>\n\n\n\n<p>This is a common concern, but it isn\u2019t true. Checking your credit score yourself, such as through a credit rating agency, is called a <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-tips-to-help-keep-your-credit-score-in-good-standing\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u201csoft\u201d inquiry<\/a>. It gets recorded on your credit report, but only you see it.<\/p>\n\n\n\n<p>There\u2019s no need to worry about looking into your credit score. In fact, it\u2019s a good idea to check it from time to time to see where your credit stands.<\/p>\n\n\n\n<p>The checks that do affect your score are called \u201chard\u201d inquiries&nbsp;and include credit card applications, mortgage applications, and some rental applications. These inquiries, which may stay on your credit report for up to 36 months, tell a lender that you\u2019ve been looking for credit. Depending on your history, the number of hard inquiries made on your report could influence how reliable a lender determines you to be. &nbsp;<\/p>\n\n\n\n<p>There\u2019s an exception for rate shopping, however. If you\u2019re looking for certain types of loans, like a mortgage, multiple inquiries over a short period (generally between 14-45 days) are usually considered as a single hard inquiry.<\/p>\n\n\n\n<p>Checking your credit score can help you understand what information is reported and help you prepare to shop for a loan. &nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-myth-2-closing-old-credit-cards-improves-your-score\">Myth #2: Closing old credit cards improves your score<\/h2>\n\n\n\n<p>It may seem counterintuitive, but reducing the amount of potential debt you have access to may actually lower your credit score.<\/p>\n\n\n\n<p>That\u2019s because your credit score is based in part on what\u2019s called \u201c<a href=\"https:\/\/www.rbcroyalbank.com\/credit-cards\/credit-card-information-and-questions\/how-to-use-credit-cards-to-improve-credit-score.html#:~:text=Use%20a%20Credit%20Card%20as,more%20than%20you've%20borrowed.\" target=\"_blank\" rel=\"noreferrer noopener\">credit utilization<\/a>,\u201d which measures how much of your available debt you\u2019re tapping into.<\/p>\n\n\n\n<p>For example, say you have two credit cards with limits of $10,000 each. You have $10,000 on one card and no balance on the other. In this case, your credit utilization ratio is 50%, or $10,000 divided by $20,000. If you decide to cancel the card with no balance, your credit utilization is now 100%<\/p>\n\n\n\n<p>This high credit utilization ratio could signal to the credit reporting agencies that you\u2019re struggling to manage your payments. Keep your credit accounts open and use them occasionally so they stay active.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-myth-3-your-income-impacts-your-credit-score\"><strong>Myth #3: Your income impacts your credit score<\/strong><\/h2>\n\n\n\n<p>The more money you have, the better you can pay off your debts, right? While lenders will often use your earnings to determine how much you can borrow, your credit score does not take salary information into account.<\/p>\n\n\n\n<p>On the flip side, having a lower income doesn\u2019t affect your score either. People across all income levels are good and bad at paying off loans and managing credit, and that\u2019s what matters more.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-myth-4-you-need-to-carry-a-balance-on-your-credit-card-to-build-credit\">Myth #4: You need to carry a balance on your credit card to build credit<\/h2>\n\n\n\n<p>Using your credit card regularly can improve your credit score, but carrying a balance doesn\u2019t. That\u2019s partly because of that credit utilization rate \u2013&nbsp;if you don\u2019t pay down your debt, the interest on those funds can grow rapidly, adding more to pay back. If you let that balance build, you might increase your utilization ratio. If you can\u2019t pay off your bill every month, at least try to <a href=\"https:\/\/www.rbcroyalbank.com\/credit-cards\/credit-card-information-and-questions\/how-to-use-credit-cards-to-improve-credit-score.html#:~:text=Use%20a%20Credit%20Card%20as,more%20than%20you've%20borrowed.\" target=\"_blank\" rel=\"noreferrer noopener\">keep the balance at or below 30%<\/a> of your available limit.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-myth-5-all-credit-scores-are-the-same-across-rating-agencies\">Myth #5: All credit scores are the same across rating agencies<\/h2>\n\n\n\n<p>This one takes some explaining, so let\u2019s break it down:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Scores vary between agencies<\/strong><\/p>\n\n\n\n<p>There are two national credit reporting agencies in Canada, <a href=\"https:\/\/www.consumer.equifax.ca\/personal\/\" target=\"_blank\" rel=\"noreferrer noopener\">Equifax<\/a> and&nbsp;<a href=\"https:\/\/www.transunion.ca\/\" target=\"_blank\" rel=\"noreferrer noopener\">TransUnion<\/a>, but ratings scores between the two can be different. &nbsp; There are a few reasons why this may be the case, including different scoring models for each agency, lenders not reporting to both agencies and the timing of creditor inquiries. Different lenders may ask for different versions of your score, which can lead to further variations.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>It\u2019s important to check your score with both agencies<\/strong><\/p>\n\n\n\n<p>Because your score may vary between agencies, you should keep track of both. Not only will this give you a clear picture of where you stand with your credit, but it can also help you spot signs of identity theft.<\/p>\n\n\n\n<p>Understanding how credit scores work is key to managing your finances and qualifying for better credit terms. Wondering about your rating? You can make a soft inquiry to access your credit score with RBC Online Banking. <a href=\"https:\/\/www.rbcroyalbank.com\/dms\/olb\/credit-score\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">A Convenient &amp; Secure Way to See Where Your Credit Stands &#8211; RBC Royal Bank<\/a>. And remember, checking your rating regularly can help you make stronger financial decisions.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-0299cd27-37c3-4864-9446-4b2800c147e5\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=5 Myths about Your Credit Score &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-myths-about-your-credit-score\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-myths-about-your-credit-score\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-560885cd-e7b4-422c-93a0-a6c973cfc536\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/banking-digital-banking\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Banking\/ Digital banking<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Credit and Debt<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A group of five young adults sitting at a caf\u00e9 table, smiling and taking a selfie together. They are casually dressed and appear to be enjoying coffee and each other\u2019s company. The setting is bright with natural light coming through large windows.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg 5472w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/shutterstock_1016243905_gradfinances.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/\">\n\t\t\t\t\t\tImproving Your Credit Score\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/beyond-the-books-your-post-grads-playbook-to-help-you-conquer-student-debt\/\" class=\"card-title h4 mar-t-0\">Beyond the books: Your Post-Grad\u2019s Playbook To Help You Conquer Student Debt<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_513707488_0fbed9.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Diverse students studying. Represents higher education and financial aid.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_513707488_0fbed9.jpg 8688w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_513707488_0fbed9.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_513707488_0fbed9.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_513707488_0fbed9.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_513707488_0fbed9.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/05\/shutterstock_513707488_0fbed9.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-loans\/\">\n\t\t\t\t\t\tUnderstanding Loans\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-loans\/everything-you-need-to-know-about-student-loans-in-canada\/\" class=\"card-title h4 mar-t-0\">Everything You Need to Know About Student Loans in Canada<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Image of person looking at an app on their smartphone to check their credit score.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg 4387w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/07\/shutterstock_1640431096_CreditScore_CostofLivingCrisis-1.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/\">\n\t\t\t\t\t\tImproving Your Credit Score\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/improving-your-credit-score\/how-to-maintain-a-strong-credit-score-during-challenging-times\/\" class=\"card-title h4 mar-t-0\">How to Maintain a Strong Credit Score During Challenging Times<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-0299cd27-37c3-4864-9446-4b2800c147e5 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-0299cd27-37c3-4864-9446-4b2800c147e5 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-560885cd-e7b4-422c-93a0-a6c973cfc536 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-560885cd-e7b4-422c-93a0-a6c973cfc536 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>Canadians have a lot of misconceptions about how credit scores work, from how they\u2019re calculated to what makes them go up or down. We debunk 5 common credit score myths so you can improve your financial health.<\/p>\n","protected":false},"author":128,"featured_media":68297,"parent":57318,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[62,510],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[35],"rbc_difficulty_level":[33],"rbc_mmm_category":[319,302,329,304,306,371],"class_list":["post-57835","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-banking-digital-banking","tag-credit-and-debt","rbc_content_type-article","rbc_lob_group-business","rbc_difficulty_level-beginner","rbc_mmm_category-credit-and-borrowing","rbc_mmm_category-debt-stress-relief","rbc_mmm_category-improving-your-credit-score","rbc_mmm_category-money-academy","rbc_mmm_category-struggling-to-make-ends-meet","rbc_mmm_category-understanding-credit-and-credit-scores"],"acf":{"contently_publication_id":"286894","custom_author":"Royal Bank of Canada","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":"Generate Table Of Contents"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Debunking the 5 common myths Canadians hold about credit scores and how to improve your financial health.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-myths-about-your-credit-score\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"Debunking the 5 common myths Canadians hold about credit scores and how to improve your financial health.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/5-myths-about-your-credit-score\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Royal Bank\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-10T13:15:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-feature-535-1.jpg?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"1190\" \/>\n\t<meta property=\"og:image:height\" content=\"1020\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n<script 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