7 Must Read Myths

Since FICO scores became public nearly a decade ago, many myths regarding credit building, scoring and use have been spreading through public opinion. Some of the biggest: 1. Checking your own credit will hurt your score 2. Closing accounts is a good thing 3. Not using accounts is good It's important, especially in today's market, for consumers to understand the basics of building a good credit score. Being aware of your history is a big part of this process. FICO uses a formula to calculate and keep your score and finding out how to build a strong credit rating is key to purchasing power.