#2: Paying off a debt will make your credit score jump up 50 points right away This one's not true either. Here's why: scores are calculated with so many different factors and values that it's hard to say exactly how many points you can gainor loseby doing one thing. Every person's situation is different. The fact is, there's no one quick fix to perk up your score. Instead, doing things like paying on time...reducing your debts...and making sure your credit report is accurate are the recipe for a stronger score.

And the number one credit misconception is...