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The Facts Behind The Undying Credit Misconceptions

The following are the thruth behind undying credit myths. Re-check what you know about your credit by using these things as your guide. For more information read http://www.newhorizon.org/credit-info/truth-behind-undying-credit-myths/<br><br>Get a copy of your credit report http://www.newhorizon.org/Info/creditreports.htm<br><br>

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The Facts Behind The Undying Credit Misconceptions

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  1. The Facts Behind The Undying Credit Misconceptions by: www.newhorizon.org

  2. The following are the truth behind undying credit myths. Re-check what you know about your credit by using these things as your guide.

  3. TRUTH: No matter how much you earn will not affect your credit score. If you strive to double the amount of money you make believing it can help establish your credit rating better, you’re wrong. ● Your income is not by any means reported to the credit agencies or listed in your credit history. ●

  4. Fiction: When you look at your credit file regularly, it will lower your credit score. Truth is, when you check your credit report for informative purposes, it will fall under the category called soft queries. Meaning, it won't by any means impact your credit rating. ● At the same time, a creditor or lender that demands a copy of your credit report for certain reasons such as extending your loan or credit, this falls under the hard inquiries category that will have a damaging effect on your score. ●

  5. Truth: Terminating old accounts will not boost my 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.

  6. FOR MORE INFORMATION READ http://www.newhorizon.org/credit-info/truth-behind-undying-credit-myths/ GET A COPY OF YOUR CREDIT REPORT http://www.newhorizon.org/Info/creditreports.htm

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