the truth and the fiction behind undying credit myths
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Here are the top truths and fictions about your credit report. Recheck what you know about your credit by using these things as your credit repair guide. For more info about Credit facts visit: http://www.newhorizon.org/credit-info/ Or Contact Us! - http://www.newhorizon.org/NHBS/contact.htm Email us at [email protected] Toll Free Phone no. (888) 778-5677 You can also connect us: Facebook: https://www.facebook.com/NewHorizonBusinessServicesInc Twitter: https://twitter.com/NewHorizonOrg youtube: https://www.youtube.com/user/CreditRepairCoach Pinterest: http://www.pinterest.com/newhorizonorg/ G plus: https://plus.google.com/u/0/ NewhorizonOrg/ - PowerPoint PPT PresentationTRANSCRIPT
There are several misconceptions when you check your credit score regularly. Here are the top truths and fictions about your credit report. Recheck what you know about your credit by using these things as your credit repair guide.
TRUTH: NO MATTER HOW MUCH YOU EARN WILL NOT AFFECT YOUR CREDIT SCORE.
If you work hard to double the money you make thinking that it will help make your credit score better, you’re wrong. Your income is not in any way reported to the credit bureaus or listed in your credit reports.
FICTION: WHEN YOU CHECK YOUR CREDIT REPORT REGULARLY, IT WILL LOWER YOUR CREDIT SCORE.
Truth is, when you check your report for your educational purposes, it will fall
under the category called soft inquiries. This means, it will not in any way affect your
credit score. Meanwhile, if it is a creditor or lender that requests a copy of your
credit report for certain purposes such as extending your loan or credit, this falls under the hard credit category that will
surely have a negative impact on your score.
TruthClosing old accounts will NOT improve your credit
score.
If you’re planning to close old and inactive accounts to improve your credit, better think twice. Doing this will actually lower your credit score. Better yet, check your available credit, ask for your credit limits to be reduced, or close newer accounts instead.
FICTION:A LOW SCORE NOW MEANS YOU’LL
HAVE A LOW SCORE FOREVER.
It is definitely NOT TRUE that having a bad credit now means you’ll have a low credit forever. Paying your debts and bills on time will help you improve your low credit. Also, having a stronger sense of responsibility and checking your credit report regularly may help in repairing your credit.
Read the article at: http://www.newhorizon.org/credit-info/know-facts-acquire-get-free-credit-report
/ to know the length of time or span of years the information in your credit report will stay
in your credit.
Contact Us http://www.newhorizon.org/NHBS/contact.htm
Or you canEmail us at [email protected] Free Phone no. (888) 778-5677