New Delhi, June 23 -- Credit cards offer flexibility and convenience at the same time. They are surrounded by several myths which can mislead consumers and ruin financial health.

As we undergo the landscape of digital finance, it is probably the right time to bust some of the myths aroundcredit cards.

1.Carrying a balance improves your credit score: This is one of the most harmful credit card myths. Many people believe that keeping a balance on their card (and paying interest) helps build credit. In reality, paying your balance in full each month is what boosts yourcredit score. What matters most are your payment history and credit utilization rate-not whether you carry a balance.

Therefore, you should avoid interest charges by paying ...