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Many Americans Are Still Totally Confused About Credit Scores

When it comes to credit, most Americans know a few key points. They understand that a good credit score is important and a bad score can stop them from getting a credit card or qualifying for a loan. After that, theres a good deal of confusion and misinformation, according to a new survey by the financial website NerdWallet.

Im really heartened that people know credit scores exist, and that they have a general idea about how they work, but some important details are still escaping a lot of people, said Liz Weston, NerdWallet columnist and author of the book Your Credit Score.

People still dont understand how pervasive credit scoring is in their financial lives, she told NBC News. Theyre missing how important good credit is to all areas of your financial life, not just for borrowing money.

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