This PODCAST compares credit advice today to the old TV game show To Tell the Truth. On the show, three people all claimed to be the same person, and only one was telling the truth. The panelists had to figure out who was real. Now, the same thing happens with credit advice—but there’s no host to help, no warning when you're wrong, and the cost is real money, not game show points.
The main idea? Most “credit hacks” online are wrong. Social media is full of so-called “credit experts” giving fast, flashy advice that’s often FALSE. They say things like “Max out your cards, it’s fine if you pay them off!” or “Pay collections and your score will jump!”—but these claims can hurt your credit, not help it.
Why? Because:
There are over 100 different FICO scoring models, not just one.
VantageScore (what apps like Credit Karma use) isn’t the same as FICO (what most lenders check).
Collections, even if paid, stay on your report for up to 7 years.
Tricks like CPNs (fake credit numbers) are actually fraud.
BNPL loans (Buy Now, Pay Later) now show up on credit reports and can hurt scores.
Confusion is profitable. The louder the advice, the more likely it’s fake.
Bottom line:
You’re the game show panelist now. It’s your job to question the advice you hear:
Who profits if I believe this?
Where’s their info coming from?
Does it match how credit really works?
In today’s world, financial misinformation can cost you years of progress. Don’t trust influencers—trust real facts.
Share this post