Posts Tagged ‘credit score myths’
When it comes to your finances, your credit score is the most important factor. Any and every potential lender, whether it be for a car, a home, or a utility company, will look at your credit score to determine whether or not you are worth the investment. Because the majority of people have no clue what their credit score consists of, there’s a lot of room for misconceptions to arise. Having this knowledge, it would be responsible to check up on your credit score every so often to make sure everything is legit and correct.
Myth 1 – If an error is detected on your score, simply writing a letter to dispute it will remove it from your score. Unfortunately, this is not the case. If your dispute is completely legit, you only have 30 days to notify the credit bureau, else you have to let the bad credit sting your record.