5 Biggest Misconceptions About Credit Score Debunked
2. Employers should not check a job applicant’s credit
This myth is wrong it is actually legal for an employer to pull and review a credit report of a job applicant before hiring him or an employee. But yes the employer should seek job applicants or employees permission for this reviewing. In some of the fields like finance, government and banking agencies have to often review credit reports before hiring any person as they might have access to large amount of money or any confidential information. But it is advisable for employers to just check the financial habits or failings of a job applicant instead of checking their credit report.
3. By paying cash instead of using credit card might increase my credit score
Using cash every time instead of credit cards will not help you increase your credit scores, instead using credit accounts is the best way to help you establish and build credit. As both cash and debit cards are just like an electronic check these are not the better options. In order to get qualified for the best rates in order to for instance apply for a home loan or a student loan you need to prove that you can manage your credit responsibly. Second way to build your credit score is to make sure that you make loan and rent payments on time and in addition to that when you have high scores you will be offered with best and new services.
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