Are Common Misconceptions Influencing Your Credit Score A Step By Step Analysis
                     Are Common 
Misconceptions 
Influencing Your 
Credit Score? A 
Step By Step 
Analysis
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How to check 
your credit 
score
Are you believing what is not true? Well, 
when you comprehend wrong, you end 
up with false information and you tend 
to harm your credit health. There are 
rumors around that disrupt your score. 
You need to make sure that you clear out 
all the doubts and then go for the right 
steps to clear Experian credit score 
doubts. 
 
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A low credit score permanently 
damages your score
Not using your open credit card can impact your 
credit score: This is subject to a variety of factors 
which includes whether you have created a 
balance on the credit card. If it is paid off, then it 
leads to a decrease of debt to credit ratio which is 
a good thing towards a good credit score. Using 
your credit card for small purchases and then 
repaying the balance in full every month will 
create a positive payment record and also keep 
the card active. 
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Why check my credit 
score? 
Having a small balance on your credit card is a 
good thing: This can affect you in two ways, 
firstly, you will have to pay a high rate of 
interest on the cards and the fee you pay to 
borrow money. Secondly, If you fail to make 
monthly repayment, your debt to credit ratio 
will keep increasing. This will lead to a burden 
and your credit card loan will become a burden 
with added interest. Learn How to calculate 
business loan by using business loan calculator
.
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How to improve your credit score? 
Application of a new credit card will not 
harm your credit score: A new credit card 
application will generate a hard inquiry on 
your credit score report, which will impact 
the credit score. It is important to note that 
you should apply for a credit card only 
when you need it. It is good to have just 
one credit card for all your small needs. 
Make sure you are not applying for multiple 
credit cards. 
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Thank You
For more information please contact:
Clix Capital Services Private Limited
Email: [email protected]  |  Mobile: 18002009898  
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