When talking about credit score, there are many credit score myths and misconceptions that keep the borrower’s judgement iln doubt or dilemma. A credit score is an important number when you plan to apply for a credit card or a new loan. Many times, your credit score is also fetched by insurance companies to decide your premium amount and/or coverage.
Understanding Credit Score – Common Myths
Because credit score can easily be misunderstood, it is important to debunk the most common credit score misconceptions surrounding credit score. These are: