8 things not in your credit score
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Here are 8 things that have no part in your credit scoreTRANSCRIPT
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8 Things NOT Included In Your Credit Score
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1. Your age• A 19 year old with good credit
has an equal opportunity to qualify for a loan as an older adult and vice-versa
• The same holds true for the elderly, and lenders may not age-discriminate– A 95-year old can qualify for a
30-year mortgage, just as easily as a younger person can
Flickr/ Akash Kurdakar
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2. Your salary• Whether you
make $15,000 per year or $1 million, it will have no bearing on your credit score
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3. Your employment status• Even if you’re
unemployed, it won’t affect the score lenders receive
• However, lenders can and will use employment information when making decisions, such as– Employed or not?– Length with employer– Salary– Employment history
Chris Smith
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4. Marital status• As long as your joint
accounts are current, your martial status won’t affect your credit score
• A common misconception, any individual accounts will only affect the account holder’s credit score– You do not “inherit” your
spouse’s credit problems
Jasen Miller
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5. Your interest rates• While it’s true that
high interest rates are generally given to high-risk borrowers, the rates are not factored into your credit score for future lending decisions
Wikipedia/ Rammiefong
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6. Child support• Any items
reported as child or family support obligations don’t affect your score
Flickr/ Paul Hamilton
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7. “Soft” inquiries• Checking your own credit
will not affect your score• “Promotional inquiries” are
also soft inquiries– These are inquiries to “pre-
qualify” you for credit offers• Administrative inquiries
made by your current lenders to review your account also don’t count
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8. Credit counseling• If you seek credit counseling services, it will
not affect your credit score
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Your credit card may soon be completely worthless!