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Welcome back thing to get -- getting it turned down for a credit card Hersh your credit score not so but it's one half dozen.
Credit -- that even the smartest people are falling for joining us from Miami is Elizabeth.
Carol lost -- from get credit healthy -- -- to see your last name correct.
Close enough car while -- all right well thank you for correcting me.
Bob let's start with this because I think a lot of people forget that there are certain things you can do to improve your credit they can be pretty easy but they're also some big myths out there -- web about the way in which were being -- first up on your list here is checking your credit information.
You know dialing it up online find out information hurts your credit score that is false that -- something I have long believed why is that false.
Because many people think that when you check your own credit score you're going to -- negative hit to hit against you it's an inquiry.
But that's only when lenders check your credit they have permissible purpose which is a hard pulling your credit score.
-- this apple which you do.
Interesting -- number two on your list getting turned down for a credit card also -- your school we've heard this.
That apparently is false you keep applying for credit cards you get turned down.
But that does not have an adverse affection.
It does not -- what we're going back to thinking that.
Getting turned down -- -- negative thing.
The negative part about it is that first she didn't get the credit card.
But on top of it is that it's a hard inquiry remember when I just -- the permissible purpose.
You gave that creditor the option to -- your credit score and that is a heart -- so that will have a negative hit.
Inquiries are 10% of your credit score if you use the tackle scoring model so when you're looking like a house or something -- -- sees that the bank looks -- -- getting constantly being pulled for different reasons that's not a big issue for them.
It it what it is it is it's actually again ankle -- back to the creditor is pulling your credit score not you.
If you pull it you're not having a hard inquiry on your credit okay good aren't as good now.
All three credit bureaus have the same information and -- generate the same score that's long thought -- Equifax -- union and Experian or whatever.
That's false they don't all generate the same score why no.
Well -- so confused because there's so many and so much information out there but the reality is that the three bureaus are three separate entities.
And not all creditors actually report took off three -- that's why it is so important within our organization we stressed.
That you pull your own credit report through annual credit.
Report dot com.
Once a year to see what is being reported and it's free of course to to get that credit report it is free yeah coveted asset if you once -- year.
Once again get unless you pay for right.
Once they hear one also if you get declined for any reason from a lender they're supposed to send your credit report based on why you had declined to you know let me ask that because they don't just automatically on the number four on your -- Is your credit report includes your credit score that's false him.
Cracked as -- -- just talking about it through annual credit report you get your credit report for free.
A score is a separate entity completely I mean 90% of lenders use the -- -- scoring not all.
So it's where you hefty pay for it.
Legally we could get your report but not your credit score for free.
Replied on your list here that debit cards can help your credit we've heard that if you have a debit card you'd.
Through it at different store is that you'll get better credit as a result of a false it is it just credit card that help.
It will -- -- now coming across a lot of the prepaid credit cards and people are thinking whether it's.
Prepaid or debit cards that it reports to the bureau's.
Those credit cards -- that debit cards do not report to the -- and it's not reporting it's not part of the formula and it snapped pulling the information.
To help you build your credit.
Thank you so much Elizabeth yet get healthy credit dot com is the website please go there and check it out and get credit healthy dot com.
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