If you are trying to raise your credit score to get a good rate for a loan or refinance, you might be surprised by what affects - or doesn't affect - your score.
1. More money improves your credit score = FALSE
2. Ownership of several credit cards can hurt your credit score = MOSTLY FALSE
3. Opening and closing credit lines can hurt your credit score = TRUE
4. Consolidating credit lines will help your credit score = MOSTLY FALSE
5. Changing jobs can hurt your credit score = PARTLY TRUE
6. Co-signing for others can hurt your credit score = PARTLY TRUE
7. Judgments and liens aren't considered in your credit score = FALSE
Additional details on how to manage your FICO score are available on the FICO site.
references: houselogic, gwen moran, don horne
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