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Four Damaging Myths About Your Credit Score

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  For the majority of people, credit scores remain to be a mystery.   Many of us know 800 is a high score, 700 is acceptable, and anything below 600 is considered to be bad.   But what actually determines the number?   What is the main factor that influences this number with the potential to provide you with the house or car that you've always wanted or smash them to oblivion? Credit scores, which are also known as an FICO score is calculated based on a lot of different data from your credit report.   There are three FICO scores, one per bureau, which is three: Experian, TransUnion, and Equifax.   Each score is based upon information the credit bureau keeps on file for you.   When the information contained in your credit reports changes your credit score is likely to alter as well.   Your three scores impact the amount of credit given to you, and on which conditions (interest rate, etc.).   After bankruptcy, your scores are likely to be quite low however, you can do things to build