Differentiating Credit History Facts From Myths: What Really Works

The importance of a good score in the modern world cannot be understated. Unfortunately, the myths surrounding how credit score works do not help individuals improve their credit score and thus, it is important that you learn to differentiate the truth from myth. Basically, a credit score is a number that is calculated using information from your past credit information to help lenders know your creditworthiness. The information is used by lenders to determine whether you will likely repay the debt as agreed. Therefore, a credit score can be described as a risk score.

What is the truth about your credit score?

Your credit score is a reflection of your past repayment details with an emphasis on the recent information. As a precaution, you should always pay your credit on time as late payments can negatively affect your credit score. You should always try to keep balances on your credit cards low as high outstanding debt can negatively affect your score. You should not fall for a myth that opening many credit accounts puts you in a better credit mix. Instead, you should only apply and open credit accounts that you need. You should also pay off your debt instead of moving it around. You should also avoid closing your unused cards as a short-term strategy to improve your credit score. You should also remember that the modern financial market keeps changing and thus, you should subscribe and follow credit secrets YouTube channels and LinkedIn to learn about the latest credit history details.

Things you should know about credit history

When it comes to credit score, you should note that some factors are more important than others in many critical credit scoring models. For example, the credit utilization ratios and payment history play a bigger role in influencing your credit score. When it comes to issuing loans, a good past payment history is considered a good sign of future performance. Paying all your bills on time as agreed every time you borrow plays a major role in influencing good rating while paying late or settling less amount than the agreed amount will negatively affect your rating significantly. If you have late or missed payments, you should keep them current and continue to pay on time. Over time, the influence of older late repayments will diminish.

The credit utilization ratio is determined by dividing the total balance of your credit cards and dividing the balance with your credit limit. You should remember that like payment history, the credit utilization ratio is considered highly in determining your credit score across all major credit scoring models. The scoring models use the credit utilization ratio to find how you manage your credit. Generally, lenders like to see a very low credit utilization ratio of about 30-percent or less. Low credit utilization means that you have not maxed out your cards and thus, you are a good manager of your credit. Opening a new credit card may increase your total credit limit but the act of applying will create a hard inquiry on your report. Many hard inquiries can negatively affect your credit score.

Understanding the different credit score ranges

To start with, lack of a credit history or low credit history does not necessarily mean that you cannot get a loan. There are credit lenders who offer special loans that target people with a poor or bad credit history. However, with a poor credit score, you are more likely to be denied a loan than a person with a good credit history. Furthermore, if you qualify for a loan with a poor credit history, you will likely be offered higher interest rates to compensate for the bigger risk. There are many different types of credit scores but the major types are FICO and VantageScore.

FICO has a rating score range of between 300 and 850. A FICO rating of between 300 and 579 is considered very poor and people with this rating may find it difficult to get credit. A rating of between 580 and 669 is considered fair and people in this rating are considered the subprime borrowers. A FICO rating of between 670 and 739 is considered good while a rating between 800 and 850 is considered exceptional. Factors that greatly influence FICO ratings include payment history on credit cards and loans, total debt and amounts, length of credit history and the types of credit accounts.

VantageScore model has a rating score of between 300 and 850 with a rating of between 500 and 549 considered very poor, 550 and 649 considered poor, 650 and 699 considered fair, 700 and 749 considered good and 750 and 850 considered excellent. Factors that greatly influence VantageScore ratings include the payment history, credit type, and age, percent of credit limit used, recent credit behavior, total debts and balances and inquiries.


As much as it is good to find credit secret tips that work on various platforms like LinkedIn or credit secrets YouTube channels, it is also good to find what does not influence your credit score. Generally, your race, sex, occupation, or marital status does not influence your rating. You should also note that checking your own credit history does not affect your credit score. It is also imperative to note that there is no quick fix to a poor credit history. Your credit score will constantly change as the information in your credit report changes and thus, you should look for long-term solutions to improve your rating.

Getting A Balanced Diet

Protect Your Health With A Better, Balanced Diet: What Have You Got To Lose?

When you make a conscious effort to eat better, whether it’s to lose weight or just improve your health, you’re making a wise investment that spans from the present, well into the future. If you’re concerned that you’re not eating properly, why not make the change to something healthier and more balanced? What have you got to lose? A whole lot, if you continue down the path of unhealthy eating.

One thing we like to do is take pictures of our food to help document and journal our eating. There is an ebook by the name of Trick Photography Book that does an excellent job showing you how to properly take photographs.

Your Body Really Needs Better Foods

It’s not just media hype or certain food manufacturers trying to sell more products, your body needs certain vitamins and nutrients to maintain itself. Without these essential elements, your body can break down, with the most important organs suffering the worst of it. You can even get these foods from certain smoothies if you don’t want to always be eating for nutrients. Checkout Red Smoothie Detox Factor Reviews – 2016 if you are particularly interested in smoothies.

You’ll Have A Lot More Energy

Life is simply too short to be dragging yourself around, but that’s what a poor diet will do for you, particularly if you are overweight. If you find yourself sitting around a lot more than you used to, or just not as interested in getting out and about anymore, take a good look at what you’re eating; chances are good that’s at least partly to blame for how you’re feeling.

Dieting Improves Your Self-Esteem

Even if you have a long way to go with your weight loss goals, every step you take in the right direction raises your level of self-esteem. You’ll feel good, just knowing you’re doing right by your body and that someday soon, you’re going to look the way you want to look. You CAN also still eat desserts! Look into some Guilt Free Desserts and you’ll find out what some of these “good desserts” are.

Your Blood Pressure May Go Lower

High blood pressure is called the silent killer, and that’s because it can sneak up on you without warning, with devastating consequences. A healthy, balanced diet will work toward lowering your blood pressure, keeping you heart-healthy and less apt to succumb to the associated diseases.

Cholesterol Levels Can Go Lower, Too

Cholesterol is another indication of how you’re treating yourself, and if you’re not eating right, bad cholesterol can kill you. Being overweight, partaking of too many gluttonous meals and just not making your health a priority will catch up to you, sooner or later. Watch what you eat, and watch your cholesterol levels go right back down where they belong.

Less Visceral Fat Means You’re Less Apt To Develop Dementia

Visceral fat, you know, the obvious overweight-ness around your middle that’s so hard to get rid of, actually, creates a cellular state throughout the body of inflammation that can extend to your brain. These cells are much more common in people with dementia, meaning a healthy diet can keep your mind more fit for a lot longer.

Dieting Makes Life Easier On Your Joints

Imagine carrying around a 10-pound weight, all day long; you couldn’t put it down, even for a minute, for any reason. You wouldn’t just be tired by the end of the day; you’d be sore and feel injured – that’s a lot of weight to hold onto. Well, that’s exactly how your joints feel when they’re supporting a lot of excess weight, and this condition can easily lead to long-term, permanent damage. When your diet is lean, mean and healthy, eventually, the job your joints do becomes much easier. Losing weight is an investment in your joints, which may mean the difference between growing older in a lot of pain, or growing older with less pain and greater mobility.

Healthy Living Actually Saves You Money

Junk foods are much more expensive than plain, natural foods, in both the short and long terms. All the chemicals and calories cost you more when you consider all that you’re going to spend on health care and all the problems, both big and small, that are eventually going to catch up with you. Americans spend billions on obesity, arthritis, diabetes and more, but ultimately, the cost is measured by more than money – it’s measured in the years you can live and how happily and healthily you can live them!

You have so much to lose if you continue with unhealthy eating habits, and so much to gain by changing your ways. Whether you need to start managing your weight better or are seriously considering the ill effects of a poor, imbalanced diets on your long-term wellness, it’s time to make a change. Each day that goes by with you on the same careless, unhealthy path is one to regret.


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