SAN ANTONIO – Your credit score is key to so many things in your financial life -- from getting a good interest rate on a loan to getting a job.
But when it comes to what affects your credit, there are a lot of myths.
Let's take a look at what's true and what's not about credit scores.
Q: Do unpaid library fines affect my credit score?
A: Overdue library fines will not affect your credit. They are reported by municipalities and municipal court records, but they won't go on your credit report.
Q: Will unpaid parking and traffic tickets affect my credit score?
A: Parking and traffic tickets, like library fines, come from municipal records and aren't collected by any of the credit reporting agencies.
Q: Will opening up a bunch of credit cards at the same time affect my credit score?
A: Opening up a lot of credit cards in a short period of time can have a negative impact, because it suggests you might be in credit trouble.
Q: Will frequently checking my credit scores ding my credit scores?
A: You can check your credit report at any time without it affecting your credit score.
Tip: If you want to check your credit score, you do not have to pay for it. Websites like annualcreditreport.com offer scores for free.