10 Credit Myths Debunked

This is a guest post by By Experian When it comes to debt, credit reports, and credit scores, conventional wisdom is peppered with myths, misunderstandings, and misrepresentations. Credit is a tool. Like any tool, it's neither good nor bad in itself. What matters is how you use it. Myth #1: Debt is Debt Not all debts are equal. Say you've got a $150,000 debt on your credit report. If it's there because you maxed out your credit cards to throw a birthday blowout for yourself two years

Do you Really Understand Your Credit Rating?

Credit Rating is a very misconstrued word. Simply put, credit rating indicates how creditworthy you are.

Many myths and interpretations are associated with Credit Rating. Essentially, its a rating system worked by Lenders to determine the credit-worth of prospective customers and borrowers. And this system takes multiple factors into account to decide the rating for your eligibility for the credit. Hence it is a good practice to review your finances frequently and keep a check on your theories

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