How to Kill your Credit Score

Your credit score is like your heart it’s your life support system in the real world. Pay attention to your action these are ways you hurt your credit score.

Difficulty: Easy

Instructions

1. Paying late.
   When you pay late you will hurt your credit score. Pay your credit card bills on time to help your credit score. Lenders look at your history, your history is your payment plan.

2. Not paying at all.
   Each month you miss a credit card payment, you are hurting your score. Try not to ignore the problem it will still be there in will hurt you in the long term.

3. Defaulting on a loan.
   I learned this the hard way with a student loan. A default shows that you have not fulfilled your end of the loan contract. It’s almost the same as charge offs. Charge offs are when creditors think you’re not going pay, so they charge off the account.

4. Maxed out credit cards.
   This is a terrible way to hurt your credit it shows irresponsibility, over the limit credit card balances make creditors question your judgment.

5. Closing old credit cards.
   Closing old credit cards makes your credit history seem shorter than it really is. Closing credit cards that look like you maxed out your credit card, causing your score to drop.

Tips & Warnings

• Keep your credit applications to a minimum.

[alexxandrahh]

on 11/4/2009 Amazing article

[funmom970]

on 10/22/2009 Great article on keeping your credit score up.

[askanna]

on 10/13/2009 Very good information and very, very true. Thanks for telling people what *not* to do. Well done!

[KaraDiablo]

on 10/8/2009 Good infomation.

[paulo55]

on 10/8/2009 Grat article! Good information, too! 5*