A credit score floating in the 800s is certainly a mark of credit excellence, a badge earned by a counted few consumers in the United States. Most others struggle to maintain a reasonable credit score. There is plenty of information on how one can increase their credit score, and there are plenty of myths regarding credit scores that circulate as well. Today, we present to you a few credit score myths and the truth behind them, to help you fix credit score.

A Bad Credit Score Will Last Forever

Many consumers presume that a bad score will only last forever. But unless you do not make your credit card payments on time, max out your credit cards, shop impulsively, and let the bills go to collections, your credit card will improve with time. Once you start managing your credit well, you will see your credit score rise.

It Takes Years for a Credit Score to Dip

Contrary to common belief, it takes merely a few months for a good credit score to be ruined. When you hit the six months past due, do not be surprised to see your credit account charged off. This is easily one of the worst things you could possibly do to your credit score.

If your account incurs multiple charge-offs or is sent to collections, it will take just a few months for your credit score to plummet and make it hard to fix credit score.

Checking Credit Frequently Hurts Your Score

As long as you aren’t using mortgage lenders, but credit scoring services, you can check your credit score as many times as you may wish. Checking your score doesn’t hurt your credit score and can in fact be used to take proactive steps to fix credit score.

You Need to Earn a lot to have a good credit score

How much money you earn isn’t a factor used in deciding your credit score. That said, bill payments that could be impacted by your earning capacity can factor into your credit score. No matter how much money you earn, if you pay your bills on time, you will earn yourself a good credit score.

Getting Married Will Merge and Fix Credit Score

This is a very common misconception. As much as we wish it would be true, you and your spouse will continue to have separate credit scores and histories even after a marriage. Yes, joint accounts will certainly affect both partner’s scores, but all individually held accounts will have a direct effect only on the said account holder’s score.

Credit is a tool. And, like any other tool, it is neither bad or good in itself. So, use it wisely, so it comes to your use when you need it most.