Credit Score Myths
Some of the things you think you are doing to help your credit score may actually be doing more damage. Double check that you are not making these costly mistakes by reviewing these credit score myths: Accumulating Too Much Credit is Bad. This is False. What does affect your credit score is too frequently requesting to receive credit, but having too many credit cards in itself does not affect your credit score. In fact, the opposite is true. The more available credit you have the better, if you are capable of keeping your balance low. Closing Credit Cards Helps. Wrong again. Closing credit cards is a double whammy in a negative way because you are limiting your available credit and you may be erasing a credit history from your report. ...
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