Credit Score Myths Debunked [Infographic]

By: Shawn Hess - March 16, 2012

Looking to increase your credit score? Of course you are or you wouldn’t be reading this article. Buying power is an important part of credit health and surprise, it all depends on your credit score. What is a credit score?

A credit score is a complex calculation of figures based on how much money you take in, how much money you owe, your behavior on how you’ve handled financial obligations in the past, and a likelihood that you are able to repay the money you want to barrow. It’s not a simple equation and there’s a lot of misinformation out there on how to achieve good credit health.

Hopefully this infographic will help set us straight and reveal some of the major credit myths that exist out there. Getting on the track to better credit health is not easy, but it looks like there’s some easy thing we can all do right away to increase our scores. Take a look:

About the Author

Shawn HessShawn Hess is a staff writer for WebProNews and an expert procrastinator. Follow Shawn on Twitter, on StumbleUpon, and .

View all posts by Shawn Hess
  • http://ewhatsagoodcreditscore.com pmutanen

    It’s strange to think closing credit accounts will damage your score, but it will. It’s good to do some research before taking action.