5 Most Common Myths About Credit Score

We all have heard that having a good credit score is essential for getting easy approval on a loan. It could play a vital role in making the financial picture a perfect one yet there are so many misconceptions regarding it that affects it. Speaking of taking an instant personal loan online paperless is what anyone in a financial need would prefer. But getting that is bound with some clauses. A credit score is one of them. Also, people looking forward to borrowing a loan get confused with a few myths. Here is the truth behind the 5 most common myths people have regarding credit score. 1. Myth: Checking credit score lowers it. Reality: It’s not true. Checking for credit score does not lower the score. It may be that people are doing it just for the sake of awareness. Though, checking for a credit card and applying for it can pull down the credit score yet temporarily. 2. Myth: One only has 3 credit scores. Reality: Any person usually has 80 credit ...