There are many myths associated with credit scores, so we are going to tell you the truth behind some of the myths so that you don't make uninformed decisions.

1. Each person has one credit score

This is a complete myth. The truth is that each person has three credit scores and they are given out by three different credit bureaus. Each credit score can vary by as much as fifty points, so it's a good idea to thoroughly check all three to make sure they are accurate.

2. When you check your credit score, it becomes lower

No matter how many times you check your credit score, it won't affect it in the slightest. But in order to get accurate information, make certain that you are checking the score with either the credit bureau itself or with a reputable score seller.

3. The higher your salary, the higher your credit score

No matter how much money you make your score won't become any higher unless you are using that money to pay off your debts. Simply having a high salary doesn't affect your credit, it's the way that you use your salary that will help your credit.

4. You can dispute unfavorable items on your credit report and have them removed

If you truly believe that there is an error on your credit report, then yes, dispute it. But if you bought a stereo three years ago and didn't make a single payment, don't think that simply because you are disputing it that stereo is going to be removed from your credit report. All disputes are thoroughly investigated to make certain that they are legitimate and they will not fall for fraudulant claims.

5. Looking around for a loan hurts your credit score

While it is true that multiple inquiries to your credit report can lower your credit score, you can feel secure when searching for a car loan, a home equity loan, or a mortgage that you aren't affecting your credit. Any loan inquiries made within two weeks of one another count as one inquiry on your credit report. Please note that this does not apply to credit cards.

6. When you are offered credit cards, they affect your score.

Credit card offers that come in the mail do not affect your score at all unless you accept them. So shred them and toss them in the garbage, you don't have to worry about them coming back to haunt you.

7. Husbands and wives combine their credit

When you get married your spouse keeps their own credit score and you keep your own credit score. You do not need to worry about your credit being affected by bad decisions that your spouse makes unless both of your names go on the loan or on the credit card. Then, both of your scores will be impacted.