![]() Mistakes and identity theft – If you ever see a drop in your credit and can’t pinpoint a concrete reason, make sure to reach out to the credit bureaus to avoid any errors or identity theft.In reality, a person with a spotless credit history can lose up to 100 points if a payment is more than 30 days past due. If you’ve never missed a payment before then the idea of one slip might seem minimal. Not making payments on time – Missing and late payments negatively affect your credit score.Opening a new credit card – When you do this it lowers your average credit age which can decrease your score by as much as 12 points.While knowing the tips and tricks for improving your credit is important, you also need to know what can hurt your credit score.Īvoid these credit score pitfalls as much as you can: Read More: Rent to Own Credit Repair: What it Means for Your Home-Buying Goals How does my credit score decrease? Check your credit score often – Keep track of your credit history so you’re not surprised by sudden changes.You should also avoid adding additional consumer credit. A long credit history indicates to lenders that you have experience handling credit. This way you’ll benefit from longer average credit history and a larger amount of available credit. Keep credit cards open – Don’t close old accounts even if you don’t use them.The more on-time payments and longer your credit history, the better. Make frequent payments – Pay down your card twice a month.It’s good to keep balances low on credit cards and revolving credit. ![]() Pay down the card that’s close to its limit first – Your credit score is impacted by your debt-to-credit ratio.Consider setting up automated payments if you struggle to remember payment deadlines. ![]()
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