#1: My credit score determines if I get credit.
Many facts are used to determine if you
will get the credit card or loan youíve applied for. Your credit score
does matter, however, lenders also have their own policies that help
them make credit decisions.
#2: Once my credit is damaged, I canít raise my credit score.
A credit score shows how your credit
looks right now. You canít change your credit history, but with time
and effort, you can improve your credit score.
#3: My credit score will drop if I apply for new credit.
Applying for credit cards or loans
over varied periods of time wonít hurt your credit score. If you
apply for several credit cards in a short period of time, multiple
requests for your credit information will appear on your credit
report. To many requests can raise a red flag for lenders.
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