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Your credit rating and credit file are among the biggest factors lenders examine once you submit an application for financing otherwise financial. For those who have struggled with your money before, understanding your credit rating is overwhelming. But information their get and you will what goes in it’s very important to help you getting the loan you need.

There are various mythology surrounding your credit rating and you will so what does or doesn’t apply to it. Let us take a look at several of the most prominent myths while the information in it.

step 1. Holding a credit card equilibrium speeds up my personal credit score

This really is a long-term myth around building borrowing. (more…)