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Bing Search If you want to avoid problems with lenders, landlords, insurers and others, it pays to know the difference between credit fact and credit fiction. Related topics: credit score, credit reports, financial planning, loans, Liz Weston A decade has passed since the vault cracked open and we started learning how credit scores really work. For years, the creators of the leading credit scoring formula, the FICO, didn't want consumers to know the scores existed, let alone what went into them. In early 2000, however, E-Loan started credit reports credit Oklahoma City letting customers see their credit reports credit Oklahoma City FICO scores. That free experiment was quickly credit reports credit Oklahoma City shut down, but the secret was out. Pressure from consumer advocates and lawmakers finally persuaded the FICO creators -- a company named Fair Isaac, now known as FICO -- to reveal later that year the 22 credit reports credit Oklahoma City factors, grouped into five credit reports credit Oklahoma City categories, that went into creating its scores. yearly free credit report

But 10 years credit reports credit Oklahoma City later I'm still hearing many of the stupid myths about credit and credit scoring that prevailed 10 years ago, plus some that have sprung up since. Their prevalence is keeping people from understanding one of the most important numbers in their financial lives. Credit scores are used: Failing to understand credit reports credit Oklahoma City credit scores and how they work, in other words, really can put a dent in your financial life. Here are the seven most dangerous myths that need to be dispelled: Myth No credit reports credit Oklahoma City 1: "If you handle your finances credit reports credit Oklahoma City responsibly, your credit scores will take care of themselves." Fact: credit reports credit Oklahoma City A credit score is not a financial-health score. credit free score It doesn't measure your income, assets or financial savvy. There are some behaviors that may be good for your wallet that aren't good for your scores.

Keep in mind credit reports credit Oklahoma City that credit scoring formulas have one primary purpose: to help lenders gauge the likelihood you'll default, based on how you handle credit. If you stop using credit or use it in a way the formulas don't like -- using only one card, shutting down a credit reports credit Oklahoma City bunch of accounts or maxing out your cards, even if you then pay them off in full -- your scores could suffer.

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Bing Search If you want to avoid problems with lenders, landlords, insurers and others, it pays to know the difference between credit fact and credit fiction. Related topics: credit score, credit reports, financial planning, loans, Liz Weston A decade has passed since the vault cracked open and we started learning how credit scores really work. For years, the creators of the leading credit scoring formula, the FICO, didn't want consumers to know the scores existed, let alone what went into them. In early 2000, however, E-Loan started credit reports credit Oklahoma City letting customers see their credit reports credit Oklahoma City FICO scores. That free experiment was quickly credit reports credit Oklahoma City shut down, but the secret was out. Pressure from consumer advocates and lawmakers finally persuaded the FICO creators -- a company named Fair Isaac, now known as FICO -- to reveal later that year the 22 credit reports credit Oklahoma City factors, grouped into five credit reports credit Oklahoma City categories, that went into creating its scores.

But 10 years credit reports credit Oklahoma City later I'm still hearing many of the stupid myths about credit and credit scoring that prevailed 10 years ago, plus some that have sprung up since. Their prevalence is keeping people from understanding one of the most important numbers in their financial lives. Credit scores are used: Failing to understand credit reports credit Oklahoma City credit scores and how they work, in other words, really can put a dent in your financial life. Here are the seven most dangerous myths that need to be dispelled: Myth No credit reports credit Oklahoma City 1: "If you handle your finances credit reports credit Oklahoma City responsibly, your credit scores will take care of themselves." Fact: credit reports credit Oklahoma City A credit score is not a financial-health score. It doesn't measure your income, assets or financial savvy. There are some behaviors that may be good for your wallet that aren't good for your scores.

Keep in mind credit reports credit Oklahoma City that credit scoring formulas have one primary purpose: to help lenders gauge the likelihood you'll default, based on how you handle credit. If you stop using credit or use it in a way the formulas don't like -- using only one card, shutting down a credit reports credit Oklahoma City bunch of accounts or maxing out your cards, even if you then pay them off in full -- your scores could suffer.