Myths vs Facts: What You Should Know About Credit Scores​

While your credit score is important to avail loans, there are many myths surrounding them. Let’s check these myths and their relevant reality.

Myth #1: Only payment default affects the credit score

Fact: Credit utilisation, credit mix and credit history also impact the credit score.

Myth #2: A bad credit score is very difficult to improve

Fact: It can easily be improved! You just need to manage your credit behaviour and your score will gradually improve.

Myth #3: Checking your score too often hampers it

Fact: No, it doesn’t. On the contrary, you can take steps to improve the score when you keep an eye on it.

Myth #4: The credit report is always correct

Fact: It may not always be right, and you can always get the errors rectified.

Myth #5: Checking the score incurs a fee

Fact: Credit score checks are FREE of cost. However, a credit report is chargeable.

To build your score, apply for lifetime-free Metra Trust Credit Cards and unlock a world of delight and never-expiring Reward Points.