There are certainly a lot of myths floating around these days when it comes to credit scores. It's time to separate fact from fiction with these great informative SlideShare.

1. www.creditinfocenter.com

2. Some people believe opening a lot of accounts will
prove they can handle credit. It actually has the opposite
effect. Lenders will wonder why you need so much
credit and interpret this as a sign that you are high risk.
www.creditinfocenter.com

3. Checking your own credit score is called a “soft
inquiry”, and soft inquiries do not affect your credit
score. You can actually check your credit for free once a
year at annualcreditreport.com
www.creditinfocenter.com

4. Closing old accounts could actually hurt your credit
score because it shortens your credit history and leaves
you with less available credit.
www.creditinfocenter.com

5. There is no such thing as a joint credit report. While you
can have joint accounts that appear on both of your
credit reports, your credit report is yours alone and is not
affected by your spouse’s credit except for joint accounts.
www.creditinfocenter.com

6. Sure, it helps, but even if you pay off delinquencies, they
will still show on your report, albeit with a zero balance.
The trick is to get the creditor to remove the
delinquency in exchange for you paying the account.
www.creditinfocenter.com

7. Whether you pay 20 days early or on the due date, your
score will be the same. However, paying off the balance
before the statement closing date will show a zero
balance on your report thus helping your utilization rate.
www.creditinfocenter.com

8. Creditors consider late payments on your mortgage and
auto loan to be more serious than a credit card. If you
don’t have enough money to pay all your bills, focus first
on paying your mortgage followed by your auto loans.
www.creditinfocenter.com

9. Newer accounts carry far more weight than older
accounts, and a few old dings won’t destroy your credit.
Try to remove as many old negative items as possible, but
focus more of keeping newer accounts current.
www.creditinfocenter.com

10. Despite what many people say, your income isn’t a factor
in your credit score. You can make millions of dollars a
year and still have terrible credit, or make very little and
have great credit.
www.creditinfocenter.com

11. Most credit reports contain at least one major error or a
mistake of some sort. This is why it’s always important to
check your report regularly and fix mistakes so that you
don’t have a problem when you need to use your credit.
www.creditinfocenter.com

12. To learn more about credit scores, credit repair, and how
to effectively build your credit, visit us at
CreditInfoCenter.com
www.creditinfocenter.com