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Credit Myths Debunked

2013/01/09 by

How is everybody doing with their financial New Year’s resolutions? Keeping that budget straight? Adding more to that 401K? How about improving that credit score? It occurred to me today that you can only help something as much as you know how to, which inspired me to find an article which debunks several credit report and credit score myths, and sets the record straight once and for all just what will–and won’t–help improve your credit score. No excuses after reading this one! And it is worth a read. You could be surprised to find that something you believed to be true is actually just a myth, and it could make all the difference in getting the score you’re shooting for. Here is Jill Krasny’s post, featured in MSN Money today:

“When one year ends and another begins, it’s hard not to look ahead and strive to do better. And when it comes to credit, we’re definitely creatures of habit. We resolve to spend less, but we open store credit cards anyway. We vow to pay off debt, but we put down only the minimum due.

We aim to turn our credit around and boost our scoresĀ — and while we might think we have a handle on how the system works, we might actually have some misconceptions about credit that can keep our goals out of reach.”

Click here to read Krasny’s article about which credit untruths to ditch this year.

Read up fellas and make sure you know the ins and outs of how credit scores are computed. Once you know the rules, you can play the game!

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