While establishing a good credit score is a vital piece of your financial picture, there are many common misconceptions about what affects it. Telling facts from myth is crucial, as consumers strive to do what they can to improve their credit scores.A good credit score means you’re rich
Is it easier to pay your accounts when you’re rich? Of course, it is. Does being rich automatically mean that you can or will pay your accounts on time? No, it does not. Being rich means that you have the resources to cover your expenses, but it doesn’t mean you have the discipline or desire to pay your accounts on time. each month.Checking my credit score lowers my credit score
Checking your score helps you track your credit status, but it is important to check it the right way. Every time your credit report is checked, it results in an inquiry. But there are two kinds of inquiries you need to know about: hard and soft. Checking your own credit report is considered a soft inquiry and will not affect your credit score. These types of inquiries do not appear to credit providers and do not affect your credit score. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Analytical cookies are used to understand how visitors interact with the website.