Knowing the truth behind credit score myths is a good way to direct you to improve your credit scores. Also, by knowing the don’ts in getting a high credit score, you will be successful in getting that credit score that will put you in a low interest loans.

* A 50 points merit will be added to your credit score if you pay off a debt. This is not actually true because the credit scores are evaluated through complex algorithm, and paying debt is not only the factors to consider. Changes in one factor will reflect on your score, but it is hard to tell how much is it. But these tips will surely improve you credit scores, just continue paying your bills on time, lessening your debts and eliminating negative information from your credit report. Just remember that being on time and good financial performance are the two most significant factors on your credit score

* After disputing and changing negative record, will it be removed from your credit report? The answer is no, negative records will stay on your credit report for seven years prior to their first posting; the bankruptcies will remain for 10 years. If you pay off the account before the due date, it will not be removed from your credit report, but a 'paid' mark will appear. Continue paying your debt for it will improve your credit score, and the main enhancement will be at the time when the record expires.

* Your credit score will increase if you open several new accounts. Opening new accounts where you have none may help you in increasing the score and ascertain a preliminary good score and possibly up to three of a specific type can work to the benefit of improving credit score; but someone who previously has some established account must not try to generate more credit lines in order to achieve an improved credit report.

* Old accounts can be closed and lead to improve your credit scores. This factor differs in all people. However, if you close delinquent and old accounts, you will in fact experience the opposite. Your credit history will look shorter if you go for abandoning old credit accounts and hence lowering your credit rating. Think carefully before closing the oldest account. Reducing available credit can be done by asking to lessen your credit limit/s or closing newer accounts.

* Checking your credits will cause your score to decrease is not definitely true. Through checking your own credit report and score, it will not affect your credit at all for this will only be counted as a 'soft inquiry'. The 'hard inquiries' like applying for credit from a lender or creditor may cause decrease in your credit score.

* Co-signer will not make you accountable for that account. Being a co-signer has lawful responsibility for the said account. All kinds of transaction on these shared accounts will reflect on both people's credit reports. Through refinancing the loan, you are stopping this kind of reporting. You can also talk to the creditor to legitimately eliminate you from the said account.

Now that you are enlighten to some of the credit score myths, it is not time to change some of your habits to improve your credit scores. But the ultimate way to increase your credit rating is by continuous effort with time