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True or False? It helps your credit score to carry a small balance on your credit card every month.

ngpf.org 4/9/22

Q:

Managing Credit

QUESTION OF THE DAY

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A:

QUESTION OF THE DAY

Managing Credit

FALSE.

79% of Gen Z respondents answered TRUE!

Source: LendingTree Survey, 2022

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FOLLOW-UP QUESTIONS

  1. Why do you think so many young people get the answer to this question wrong?
  2. 49% of credit card users admit to making a late payment on their credit cards which will lower their credit score, lead to a late fee and increase their interest charges.
    1. Why do you think so many make late payments?
    2. What steps can card users take to avoid paying their bill late?