Ten Credit Card Myths

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The website FoolProof uses videos and straightforward messages to warn young people (and everyone else, really) about the hazards of debt, interest, bouncing checks, and more.

Read more about the website at this story, which includes the site’s top financial myths:

–I don’t have to worry about credit at my age.

–Bad credit can’t keep me from getting a job.

–All loan companies have the same rates.

–All credit cards are alike.

–The job of financial advertising is to tell the truth.

–It’s OK to bounce a few checks.

–It’s OK to make minimum payments on a credit card.

–Paying late occasionally can’t hurt my credit.

–Fine print isn’t important.

–Young people don’t have credit scores.

I’ll add one more myth to this list: Debit cards are a safe, fee-free alternative to credit cards.