These common misconceptions can prevent you from achieving that perfect credit score
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Randy had an 850 credit score. According to FICO, the most popular scoring model, that’s as good as it gets.
Still, a line on his credit report said he could lower his utilization rate, so he promptly paid off the remainder of his car loan with one $6,000 payment, and then his score sank 30 points. (Randy has been a target of identity theft and asked to omit his last name for privacy concerns.)
Most people assume that wiping out those auto payments couldn’t hurt, but that’s a mistake.
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