Top 7 Credit Score Mistakes

1
(No Transcript)
2
Top 7 Credit Score Mistakes
3

• Believe it or not, credit score mistakes aren't
  only made by people new to credit, and even the
  most savvy spenders could be making common credit
  score errors including under-compensating for
  credit inquiry, or simply forgetting about due
  payments.
•  
• Below are the seven most common credit score
  mistakes, and how to avoid them.

4
Making less than the minimum payment

• Minimum payments are not optional payments, they
  are the smallest amount you can pay and still be
  current. If you pay any less, it will be counted
  as a missed payment and can cause financial
  problems down the road.

5
Applying for too many things at once

• Excessive credit inquiry can cause your credit
  score to drop, leaving you with two options
  remove each unwanted credit inquiry with the
  professional help of Inquiry Busters, or wait 2
  years.

6
Not keeping tabs on your card balance

• Identity theft isn't as uncommon as you might
  think. Even if you havent used your cards,
  review your monthly statements and if you see a
  charge that isn't yours, report it to avoid
  future financial problems.

7
Maxing out your credit limit on one card

• Believe it or not, it is better to have a handful
  of small, manageable balances than one big one.
  The closer you are to your credit limit, the more
  it damages your credit score.
•  
• To avoid unwanted financial problems caused by
  bad credit down the road, always keep your
  balance under 30 of your limit.

8
Only having one active credit card on file

• Having only one credit card not only increases
  the risk of maxing it out, but it limits the
  potential of your credit score. Even if you don't
  use them, try for two or more cards.

9
Having credit limits that are too low

• A credit limit of 10,000 with a great history is
  more impressive than one with a limit of 1000
  because it shows that the card holder can be
  responsible with more, not less. It is always
  better to retain a higher limit and not use it
  than it is to lower an unused limit.

10
Failing to establish credit after bankruptcy

• After bankruptcy, it might be tempting to avoid
  new credit and more problems, but it's important
  to get back on the horse and rebuild your credit
  score as soon as you can no matter what caused
  the bankruptcy in the first place.

11
Thanks For Stay With Us