Low Credit Myths and Misconceptions - Ashland Community Federal Credit Union

Low Credit Myths and Misconceptions

Low Credit Myths and Misconceptions

Exposing the truth behind Low Credit Scores

The storyline today makes it seem as if low credit scores are shaming, oppressive, bullying forces that will keep you from living the American Dream.  That you can’t live unless you raise your score.  t’s simply not true.

The biggest myth of all is that you are your credit score.  You’re not.  You’re a human being with a heart and a life a that you deserve to live yours. 

If you think your low credit score is a high wall you’ll never climb, think again.  We’ve already told you the truth that you are not your score.  Here are four more myths to expose:

Credit Scores are the law.  False

No, credit scores are big business.  People make a lot of money giving you a score, and by trying to help you raise it.  FICO, the most trusted credit score data provider, is a for profit company trading on the stock market.  Often over $600 a share!

Big banks are better.  Myth

Nope, just bigger. Banks trust the scores and make their choices, no questions asked.  Smaller, local lenders can make their own rules.  As a matter of fact, at the Ashland Community Credit Union, we give loans to lower credit scores all the time.  Because we can, and because we care

A late payment can’t be unmade. True...but...

Well, that’s true, but that’s not all a credit score is.  A credit score also measures time, total owed, new credit and credit mix.  By simply consolidating multiple payments into a debt consolidation loan, you could be raising your score, and saving money!

No one cares.  False.

Find someone who will listen to your story.  Someone who will look past the myths.  The Ashland Credit Union knows that sometimes bad things happen to good people.  Tell us your story.  In fact, we want to give you a loan unless you can talk us out of it.

Life is hard enough without people telling you how bad your credit is.  Yes, live right.  Do the right things.  But don’t let other people judge you by a score.  

When you take a peak behind the curtain, you’ll find the truth.  And the truth, as they say, can set you free.

If you need help gaining a loan but have a poor or low credit score, call us and tell us what's up.  Contact Us

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Ashland, Ohio 44805
(419) 289-6211

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