Credit Score

8 Credit Score Myths Debunked

Comments 7 Comments

I have received thousands of questions and comments about credit scores in my 20+ years of working in the credit scoring business—and I realize there are a lot of misconceptions about credit scores and lending practices.  Here are several common credit score myths that I see repeatedly surface.

Myth #1: Every inquiry for credit costs 5 points.


Photo by svenwerk — Slide 1 of 8

Fact:

There is no fixed set number of points that an inquiry will cost.  Generally speaking, inquires have a relatively minor contribution to the overall score.

[Featured Product: Get a free trial credit score]

Slide 2 of 8 »

Pages: 1 2 3 4 5 6 7 8

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay Connected to your experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.