2. TOP 26 Misconceptions of CreditAs industry experts, we understand just how easy it is for anyone toslip into a bad credit score. Whether your credit has been affectedby student loans, a bankruptcy, a divorce, foreclosures or anythingelse, it can be an extremely frustration experience which can denyyou access to many of your most important life goals. 3. Myth #1: You share a credit score with yourspouse. 4. Myth #2: Your credit score only counts whenyoure looking to borrow money. 5. Myth #3 Always pay your credit card balance infull and that will give you the best credit. 6. Myth #4: My mortgage broker can use the creditreport I obtained from Annual Credit Report. 7. Myth #5: Too many accounts will hurt, thereforeyou must close accounts. 8. Myth #6: A co-signer is not responsible. 9. Myth #7: If a judge in a divorce proceedingorders a spouse to pay a debt, its no longeraffected by credit. 10. Myth #8: Piggybacking does not work anymore. 11. Myth #9 Opting out will increase your creditscore. 12. Myth #10: Multiple auto loan inquiries increasewill hurt your score for each one. 13. Myth #11: It will take me seven years to improvemy credit, when in actuality its an ongoingprocess to improve your credit. 14. Myth #12: A serious financial crisis like as aforeclosure or bankruptcy permanently hurtsyour credit score. 15. Myth #13 FICO scores are locked in for sixmonths, and that they change every six months. 16. Myth #14 "I dont need to check my credit reportif I pay my bills on time." 17. Myth #15 "Checking my own credit report harmsmy credit standing." 18. Myth #16 Consolidating into a low interest creditcard will increase your score. 19. Myth #17: Going over the balances on your creditlimits are okay because the credit card companyauthorized the purchase. 20. Myth #18 "As long as you pay off your creditcard balances, your score will go up." 21. Myth #19 Types of Credit dont matter. 22. Myth #20 Paying off an old collection or chargeoff will increase your credit score. 23. Myth #21 Using debit cards which will help tobuild your credit is another myth. 24. Myth #22 "The credit bureaus are governmentagencies." 25. Myth #23 "If I get one credit bureau to remove anitem from my credit report, all the other bureauswill remove it automatically. 26. Myth #24 Credit repair is against the law, isanother myth. 27. Myth #25 Your salary makes a difference in yourcredit score is another myth. 28. Myth #26 Adding a consumer statement to yourcredit file makes a difference, and ultimately,does not make a difference in your credit scoringat all.
Top Related