Your credit score can give an astounding amount of information about you. The information is easily accessible to anyone who needs it but, there are misconceptions about credit scores that can hurt you big time. It’s important to debunk these myths, so here are four common ones.
A bad credit score will never go away
Many people think that once they have a bad credit score, they’re stuck with it for good. But your bad credit only lasts for as long as you continue to make poor financial choices. But if you start managing your credit well, your credit score improves, and soon you can access that affordable home offered by many mortgage brokers in Salt Lake City, like the Altius Mortgage Group.
You can hurt your credit score by checking it
This is one of the most commonly held misconceptions about credit scores. Some people hesitate in checking their credit score as they think it can affect their score. The truth is that as long as you are using credit score services, you can check your score whenever you wish.
Your credit scores get merged upon marriage
After marriage, both you and your spouse continue to maintain different credit histories, as long as your accounts are individually held. However, if you open a joint account, then both your credit scores will be affected.
Your employers can check your credit scores
Your employers cannot access your credit score. That is against the law. However, they can access your credit report. These two are not the same thing.
With more accurate information about credit scores, you can take measures to improve yours, no matter its current state. An excellent place to start is by dispelling some of the commonly held misconceptions about the subject.