Credit score myth.

Myth! The inclusion of the CPF in the invoice is not part of the information that is used to calculate your Credit Score. Thus, whether or not to include the CPF in the grade does not affect your score.

Learn more about credit scores and see myths and truths about credit score myths.

Putting CPF on the invoice increases the score

When it comes to qualifying for the best credit cards or even renting an apartment, your credit score matters. While establishing a good credit score is a vital piece of your overall financial picture, there are many common misconceptions about what does affect your credit score.

 The score increases right after paying off the debt

Myth! Paying and settling debts increases your score, but it takes time for your score to rise. There’s no magic formula for increasing credit score. So the sooner you pay off your bills and clear your name , the better your score. If someone says they have a way to instantly change the score, beware. That’s a hit.

Score only uses negative data

One more myth that many people believe is that only negative data counts towards the score, causing the score to go down.

In fact, all the registration information, whether negative, positive and even behavioural in relation to the available credit request, count towards the score.

All financial history counts towards the score. Many people believe that the score considers the entire financial history of the citizen, which is a mistake, after all, according to the Consumer Protection Code, debts expire in five years after maturity.

Having a higher income increases the score

The salary alone, whether higher or lower, does not increase the credit score at all, after all, what is considered for the score is the consumer’s relationship with their accounts.

Therefore, we see many people who have a clean name and a good salary do not get credit, after all, without a good relationship with financial institutions, it is difficult for credit protection agencies to monitor the consumer’s profile, that is, debts can help the consumer to have a better credit score, as long as the debts are paid on time.

CPF on the invoice increases the score?

MYTH. The inclusion of your CPF on the invoice is not part of the information that is used to calculate your credit score. Therefore, informing your CPF at the time of purchase so that it is informed in the note does not affect your score. However, credit card purchases, payment of water, electricity, telephone bills, among others are considered.