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What Won't change your Credit Score?

Are you confused what affects your credit score, and what doesn’t? Here are 5 factors that do NOT affect your credit score.


Your credit score is a reflection of your ability to repay your debts on time.


Checking your credit report does not affect your credit score. Although, over a short time period, applying for a loan or credit card, do negatively impact your credit score.


Another factor is working with a credit counselor. Working out a multi-year repayment plan with a debt counselor will not impact your credit score. If you repay every cent of what you owe, you’re in luck.


Your age is another factor that does not impact your score. If you make your payments on time, and keep good-standing accounts open, you will more than likely have a good or excellent credit score.


Your income and insurance payments are the last two factors.


Often, insurance companies will check your credit report and decide whether to insure you, and what to charge you, based on your credit history. But luckily, they will not send debt collectors your way- which would hurt your credit score.

Do you know what your credit score is?


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