You have been worrying about your credit scores for quite some time now. You must be looking for the best credit repair improvement agency available in the market for helping you to get the desired score. But while you shortlist the appropriate agency for your score, it is essential for you to know a few little details about the same.
In most cases, people are more aware of the myths about credit scores. They believe these concepts much more than the actual ones. Therefore, it is time for you to identify the myths from the truths and bid them goodbye.
You cannot spend hours worrying about these myths as they can never help you increase your credit scores. Confused? Here is a list of these myths for your reference:
- Your Bad Score Can Last a Lifetime
One of the common myths about a credit score is that your bad score will last forever. Well, honestly, nothing can last forever until you choose that path for yourself. That is a fundamental concept that you need to tell yourself every time you think your bad credit score will never go away. If you get the services of the right CIBIL score repair agency, you can improve your score quite fast without any troubles.
- It Takes A Long Time to Ruin A Score
Another common myth about a credit score is that it requires a lot of time to hit bottom. No, it isn’t true at all. It will only take a few payments and months to lower your score. If you miss the payments or the due dates, you are most likely to hit bottom pretty fast.
And if the bill is six months past due, you might get charged-off. It is one of the worst things that can ever happen to your credit score. And if it happens multiple times, it can completely ruin your score. Along with this, make sure to understand the differences that lie between the CIBIL report and scores.
- Regular Checking Hurts the Score
Now, this has to be a relatively common and silly myth about credit scores. You do not lower your score if you continuously check it. You can check it as many times as much you wish and still have the same score. Remember that your credit score depends on your repayment habits and not checking it frequently.
- You Need A Lot of Money to Get A Good Score
Well, a bad credit score can happen due to multiple reasons. But that doesn’t mean that you need a lot of money to get a good one. Instead, you need to understand the little details of your credit score before you aim to increase it.
Your score might have hit bottom because of repayment failures. And yes, you need to make these payments as soon as possible to get the due score. But if you need professional help, you must find the best credit improvement agency available in the market.
- Every Individual Has Only One CIBIL Score
Nope, this has to be another myth that must get your attention right now. Every person can have several credit scores because there are several credit scoring models. As there are various scoring methods, you will have different credit scores as per the bureaus.
- You and Your Lender Can View the Same Score
Well, sorry to burst the bubble here, but this isn’t the truth here. Although many lenders would want you to believe this one, it isn’t true. You might get the credit score online. It can be purchased or free, but the score isn’t the typical one visible to your lender. To know more, you can contact the best credit improvement agency around.
- Marriage Will Merge the Credit Scores
Well, it is not wholly accurate. Instead, if you and your spouse decide to maintain individual accounts, then there is no scope to merge the credit score. Even after you tie the knot, you can still keep the individual scores. In case you have joint accounts, then that can indeed affect both of your scores in certain aspects.
- You Can Build A Better Score with Prepaid and Debit Cards
If you have applied for prepaid cards hoping to increase your credit score, well here is something for you. You cannot improve the prepaid card score as these cards’ history won’t be factored into the score.
If you need to improve your score, try hiring the services of a well-known CIBIL score improvement agency. The fact here is that your ongoing or previous loans, repayment history and credit cards are the ones responsible for your credit score.
- Closing Your Card Can Improve Your Score
Well, one essential thing you need to know about closing a credit card is that it can do severe damages to your credit score. Yes, if you are battling with a lower score, closing the card would hurt it more.
You better leave the accounts open if they are in good standing. That can certainly help you to improve the score in the coming years. For more such suggestions, look for the best services from the credit repair improvement agency around your location.
- Bad Score Means No Approval
Yes, in a few instances, you might not get approval instantly because of a score. But that doesn’t put an end to your dreams. And if you manage to get the right professional services, you can quickly get approvals. So, if you feel that you can’t get approval because of your low score, think again. It is time to focus on finding the right agency to help you out.
The blog focuses on the most common myths that circle credit scores. And the list is never-ending as there are many aspects to consider here. But if you are struggling to get a decent score, it is time to consider hiring professional services.
If you want the best CIBIL score improvement agency by your side, consider Credit Triangle’s services. It is a reliable name in the industry that offers clients easy and hassle-free solutions to complicated financial issues.
The professionals help their clients fix their bad credit scores in any situation, thereby boosting their creditworthiness in the market. To know more, make sure to call them today.