Myths, Fictions and Facts regarding credit scores

By Kristal Kraft Denver Realtor | Published: April 3, 2006

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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About the Author

Kristal Kraft
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog

Related posts:

  1. Facts about Your Credit Score
  2. FICO 08 Upping your Credit Score
  3. 2 Big Time Lenders Get Loose ~ With Lending
  4. Your Delinquent Mortgage Affects Your FICO Score
  5. Federal Tax Credit for Homebuyers $15,000!

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