Myth 1: there is one official score
There is no single universal score. Different credit reference agencies and lenders use different data, scoring models and acceptance rules.
The useful version
Myth 2: checking your own report hurts you
Checking your own report is normally a soft check. It is sensible hygiene, especially before applying for a mortgage, loan or 0% card.
Myth 3: missed payments disappear quickly
Payment history matters. A missed payment, default or CCJ can be far more important than a small change in the displayed score.
Myth 4: credit limit equals spare money
A credit limit is borrowing capacity. Treat the statement balance and repayment date as the real numbers.
Myth 5: utilisation is everything
High utilisation can be a warning sign, but it is only one part of the wider report and affordability picture.
Myth 6: every application is harmless
Eligibility checks are often soft searches. Full applications can leave hard searches. Space applications out when you can.
Myth 7: closing every old account helps
Closing unused credit can reduce available credit and change utilisation. Close accounts for security and simplicity, not because a hack told you to.
Myth 8: score improvement beats debt reduction
If high-interest debt is active, the first win is usually affordability and repayment progress, not obsessing over a score badge.
Self-audit