7/6/2023 0 Comments Turbotax credit score![]() ![]() Paying your utility bills on time improves your credit. Although one or two credit inquiries won’t hurt your credit score significantly, Experian says too many at once could be a red flag to lenders and have a more noticeable impact. That being said, if you have bad credit and want to tackle your debt, formulate a repayment strategy and only apply for cards if you’re likely to get approved. Total Visa, Discover it Secured and the Capital One QuicksilverOne Secured are a few of Money’s recommended list of so-called “bad credit credit cards” - for people with low scores. The truth is that while you may not get approved for an exclusive platinum card with a low credit score, there are plenty of other options that people with bad credit can qualify for. A low credit score disqualifies you from all credit cards.Ī whopping 70% of respondents in the survey think they won’t be approved for any credit cards if they don’t have a high enough credit score. Make sure you’re not one of the many people who believe the following common misconceptions about how credit scores work and how to improve your credit score: 1. Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas Repair My Credit Common credit score myths You probably have an idea that your credit score is important for things like renting an apartment, buying a house and taking out loans, but misunderstandings about the ins and outs of credit may be holding you back financially. (Only 32% and 27% of respondents, respectively, said they were highly confident in their answers.) ![]() ![]() Almost as many (68%) also believed incorrectly that paying utility bills on time can raise their credit scores. And perhaps unsurprisingly, in the survey of about 3,500 Americans conducted in July, most respondents weren’t confident in their answers.Īsked to identify whether statements about credit were true or false, 70% of respondents said incorrectly that they believed having too low of a credit score disqualifies them from any type of credit card.
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