BENGALURU: Each and everyone know how important their credit score is for their financial well being. Late payments, hard credit inquiries, payments history and other things can be exhausting. However, there are also some common credit myths when it comes to factors that don’t have any bearing on your score at all, according to cheatsheet.com.

 Here are five financial factors that don’t affect your credit score.

Interest Rates:

Though the affordability of the interest rates that you obtain is based on your credit worthiness, the lower your score, the higher your rates and just paying a high interest rate alone will not lower your score but as long as you pay your bill in full and on time your credit score will remain intact.

Credit Counseling:

You don’t have to be in poor financial situation to obtain the services of a credit counselor, and even if you are, then doing so will not have any effect on your credit score. Hopefully, it will do just the opposite by helping you manage your debts and finances better. Credit counseling used to be noted on credit reports, but it was later found that people were visiting counselors before they experienced financial troubles, which changed the way people understand their credit score.

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