Myth #1: Inquiries significantly hurt your credit score.
False. While inquiries can have a minor impact, they don’t have to be a problem when handled strategically. At Fund&Grow, we help guide your applications in a way that minimizes the impact — by timing submissions carefully and targeting lenders that pull from different bureaus.
Myth #2: Balance transfers have to be used to pay down credit cards.
False. Done properly, the transfer can be used for any desired purpose.
Myth #3: It’s all done by computer.
False. This may be true when you apply for a credit card in the $3,000 – $10,000 range, but when you are asking for higher limits, you need to speak with a human being.
Myth #4: Applying for multiple credit cards will destroy your credit.
False. Strategic applications, spaced correctly and tailored to your profile, can minimize the impact on your score. Fund&Grow uses a system designed to preserve credit health and maximize approvals.
Myth #5: After 6-18 months my interest rate will go through the roof.
False. We can show you how you can get interest rates that are even better than home equity loans – with no collateral.
Myth #6: You can't use credit cards for big purchases or non-card friendly expenses.
False. With the right strategy (and third-party tools), credit card limits can be leveraged for large purchases, vendor payments, or even real estate deals. Fund&Grow guides you through this process.