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There are several things that can hurt your credit score. Unpaid collection accounts, past due accounts, and short credit history are some of the few. But there are some things that people think will damage their credit score, but won’t. Here are three total myths people erroneously think will damage their credit score:
- Checking their credit report – Checking your credit report is a responsible thing to do and should be done often. It does not count against your credit points.
- Being denied credit – If you’re denied credit, you will not have points taken off your score either.
- Interest rate on the loans - The amount of money you pay in interest does not hurt your credit score. However, if your interest rates are so high to where you can’t handle the payments that will hurt your credit score.
As long as you’re responsible and on time with your payments, you have no reason to worry about your credit score taking a hit for the reasons mentioned above.