Myths, Fictions and Facts regarding credit scores

There are many myths regarding how to maintain or improve your credit score. Here are a few;

1. Don’t close accounts! Closing unused or old credit cards lowers your score.
2. Transferring balances to a new card with a lower rate lowers your score.
3. Multiple inquiries into your credit by the same source, i.e, mortgage lenders, within a 14-28 day period does not lower your score.

If you have questions about your credit score, don’t rely on myths. You can obtain a resource called "Know Your Credit" by requesting it from me. It’s free. Just drop me an email with your physical address and I’ll snail mail it to you. mailto:kristal@theberkshiregroup.net

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