How to Lower a Credit Score

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The fastest way to lower a credit score is by spending money irresponsibly and not making payments on time. Avoid maxing out credit cards with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management
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Video Transcript

In the world of finance, it's different than the world of golf. You know the higher your credit score, the better. The higher your golf, not so good. Always remember how to lower your credit score is to be irresponsible in life. If you pay your bills late, if you carry too many credit card balances, your credit score will go down. Down is not good. You want your score to go up. So you want to make sure that you are responsible and with your credit making sure you don't max out your credit cards, that's another way to lower your credit score and lowering the score is not a good thing. Many things that Americans do in their life reflect negatively on their credit bureau and it's a result of behavior. So behavior modification is what you have to do to yourself to make sure that you develop a budget, stay within your means, do not buy extraneous things that you don't need resulting in concurrent debt. This will lower your credit score and you don't want that. This is Patrick Munro talking about how to lower your credit score.

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