Paul Sakuma, Associated Press
FILE - This July 30, 2008, file photo, shows credit card stickers posted at a bowling alley in Palo Alto, Calif.

More than 33 percent of Americans believe that making minimum payments on credit card debt will reduce the interest rate or stop it from accruing until the next bill, according to a recent survey from

CreditDonkey, a credit card comparison website, commissioned a survey on credit card literacy showing that 30 percent of Americans think that Chapter 7 bankruptcy doesn’t eliminate debt.

About 36 percent of respondents said they believe self-checking your credit report will hurt your score, which it doesn’t.

The good news is nearly 92 percent of respondents were aware that debit cards can’t build a credit history or repair damaged credit. Nearly 90 percent knew that asking for a lower credit limit does not automatically improve a credit score.

“Overall, I was pleasantly surprised at how many people knew their stuff when it came to credit cards,” Charles Tran, founder of, said in a statement.

TWITTER: @joeyferguson