Facts and Fictions of Credit Scores

Facts and Fictions of Credit Scores

Below are few fictions and respective facts that you need to know about credit score and how do credit bureaus evaluate it:
Fiction: The more money you earn, the better is your credit score
Fact: The amount your earn has nothing to do with credit score. It is not even reported to the credit bureau
Fiction: Credit bureaus never make mistakes
Fact: Nearly 8 in 10 credit reports contain an error or some sort of inaccuracy as per the surveys conducted by open source
Fiction: If you are maintain your expenses from only your debt, take no credit – will help your credit score
Fact: Having good credit is a purpose of having credit accessible to you and using it maturely.

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