Despite having more access to credit score information than ever before, there's also a lot of misleading and mythical information circulating. Some of these myths can be quite alarming. For instance, it’s not true that factors such as your race, gender, age, occupation, or neighborhood impact your credit score. These elements are not considered in your credit evaluation.

Here are some more misconceptions about your credit score:

1. Employers Check Your Credit Scores
   Employers can review your credit report as part of the hiring process, but they cannot access your credit score. They must also obtain your consent before doing so.
2. Checking Your Own Credit Hurts Your Score
   While creditors pulling your credit report can slightly lower your score, checking your own credit does not have any negative impact. In fact, regularly reviewing your report helps you manage your credit and address any errors.
3. Shopping for a Better Mortgage Rate Negatively Affects Your Credit
   When applying for a mortgage, it’s beneficial to compare rates, and the credit bureaus accommodate this. As long as all credit inquiries are made within a two-week period, your credit score will reflect only one inquiry.
4. Credit Reporting Agencies Decide What Appears on Your Credit Report
   Credit bureaus only collect and store information reported by lenders. They do not add or alter details; they are legally required to report only accurate information.
5. Building a Good Credit Score Takes a Long Time
   While establishing a good credit score can be a lengthy process, damaging it can happen quickly. A single missed payment can significantly lower your score, and long-term delinquency can lead to a charged-off account, which is severely detrimental to your credit.
6. Closing Credit Accounts Improves Your Credit Score
   Closing credit accounts can actually harm your score. Since part of your credit score is based on your credit utilization ratio, keeping accounts open, even with a zero balance, is beneficial for maintaining a good score.