Your credit score plays a big role in the loans for which you qualify, the housing you can acquire, and sometimes even the jobs you can get. Despite this, there are many common myths about credit scores that cause people to make bad decisions. If you're trying to improve your credit score or simply maintain your existing one, don't let myths about credit scores lead you down the wrong path.


1. Checking Your Credit Score Makes it Drop

This is one of the most pervasive myths about credit scores, but there's very little truth to it. There are two ways to check credit scores -- hard inquiries and soft inquiries. Hard inquiries are the ones that creditors run before signing off on final approval for a loan or line of credit, and too many of those can lower your score. Soft inquiries, on the other hand, are just a basic look for educational purposes. You can do as many soft checks as you want without hurting your credit score.


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