inaccurate credit report scores
sponsorTop 10 Credit Mistakes Consumers Make When Applying For a Loan
90% of all consumers don’t even know what is on their credit report! Learn why this is the biggest mistake you can make.
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MISTAKE #1: Assume that paying off credit cards on which you have been delinquent will improve your credit score. |
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MISTAKE #2: Assume that because you are an authorized user of a credit card and not responsible for the payments, you can’t be hurt if the responsible party does not pay. |
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MISTAKE #3: Assume that shopping multiple loan sources will adversely affect your credit rating. |
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MISTAKE #4: Confuse “qualification” with “approval”. |
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MISTAKE #5: Accepting that you need an adjustable rate mortgage to qualify because the loan officer said so |
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MISTAKE #6: Incorrectly believing that a married couple has a combined credit score |
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MISTAKE #7: Incorrectly believing that there is only one credit score (when in fact there are three). |
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MISTAKE #8: Incorrectly believing that using a credit card’s full credit line will improve one’s score |
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MISTAKE #9: Incorrectly believing that age, income and marital status are calculated into your credit score. |
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MISTAKE #10: Assuming that an average credit score will qualify for the best interest rate (average score in America is 680) |