Mistakes That Hurt Your Credit
People commonly make some really simple to avoid mistakes that really can hurt your credit score and to be honest these simple mistakes are quite easy to fix so you can avoid harming your credit score.
Paying Bills Late
Paying bills even a day late reflects on your credit score. If you pay rent, utilities or a library fine late even one day it can and is often reported to a credit agency. Make sure you pay your bills on time, or even look at setting up automatic payments!
Not Checking Your Credit Reports
Your credit report often contains mistakes which is why you should check it at least once a year. These mistakes are often very simple to clear up with just a few phone calls or even a letter. Be sure you get a credit report from the three major credit reporting companies: Equifax, Experian and TransUnion.
Using All Your Credit
Using all your credit means you have no credit left. This means that companies will be less likely to loan to you! Make sure you don’t over extend your available credit!
Use Credit Not Cash
When spending cash you are not giving lenders any information on how good you are at paying off your debts! While spending cash is good on your budgeting it really is very harmful to your credit score.