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Small Things That Ruin Your Credit Score

by Charlene Brennan 10/07/2018

Your credit score is one of the most important numbers to your financial picture. You know how important it is to have a high credit score. If you pay your bills on time and keep your debt down, you think that your score will be just fine, but this isn’t always the case. There are a few hidden mistakes that you could be making that are bringing your credit score down. Read on to find out what to avoid when trying to keep your credit score up and maintain it. 


Too Many Credit Inquiries


Beware that every time you apply for a new loan or even just check on what type of interest rate you can get, your credit will be reviewed. You want to avoid too many credit inquiries because a high number will bring your credit score down. Always ask if a lender is pulling a hard inquiry to check your score, don’t allow too many of these credit checks. 


Anything Small Can Make A Big Impact


Was there a mistake on a medical bill that you paid but it says it was unpaid? If you let this go, your credit score could be impacted. Even unreturned library books that have been turned over to collections can negatively affect your score. Stay on top of things because you never know how a small mishap can affect you.


Your Information Is Wrong


You should look at your credit report so that you can see more than just your history. You can see the information that is being reported to check for mistakes. Incorrect information can bring your credit score down. You can call the credit bureau that’s associated with any errors that you see on your credit report. It can be a little bit of a process to correct the mistakes on your credit report, but the time and effort is definitely worth it for your credit score.                       



Not Using your Credit


While using your credit too much is a problem, not making use of your credit at all can be a problem. Responsibly use your credit. Open a credit card and use it to make small purchases. Charge only things that you can afford and pay the balance off each month. This simple use of a card is one of the easiest ways to establish credit.      


It’s important to do what you can to develop and maintain a healthy credit score. Keep all of your avenues covered to be sure that nothing hidden can negatively affect your credit score. 


About the Author

Author
Charlene Brennan
I have been a Broker with Strano & Associates since 1981. I am a Multi-Million Dollar Producer, have been the Top Listing Agent, Top Producing Agent and have also been the Corporate Relocation Director for Strano & Associates. My Professional Associations include: Broker, GRI, CRS, Member of National Association of Realtors, Illinois Association of Realtors and Realtors Association of Southwestern Illinois. I have been married for 45 years to Patrick Brennan. Pat is the owner of Brennan Building & Remodeling, Inc. We have two sons Michael, 36, married to Shelby and father of Kate, Halle and Jack. Cory, 31, married to Stephanie. Cory is an Engineer, practicing in Solar Energy and Stephanie is a Chemical Engineer. When I am not servicing my Real Estate clients, you will find me spending time with my family or volunteering as a Care Coordinator for The Belize Children’s Program, a World Community Service Program, for Illinois Rotary District 6510 and The Rotary of Belmopan Belize or Ministry at the National Shrine of Our Lady of the Snows. A Proven Real Estate Professional Specialties: Broker Associate with Strano & Associates for over 35 years Realtor Associate of the Year – 2014 Realtor Associate of the Year – 1986 GRI – Graduate of Real Estate Institute CRS – Council of Residential Specialists RMM – Residential Marketing Master Member of National Association of Realtors Illinois Association of Realtors Realtors Association of Southwestern Illinois Life Member Rotary District 6510, Care Coordinator for Belize Children’s Program Experience: 1979-1981: Independent Real Estate Professional with Ira E. Berry, Inc. 1981-Present: Left Ira E. Berry, Inc. with Robert & Deanna Strano to open Strano & Associates Multi-Million Dollar Producer Top Listing Agent Top Producing Agent Corporate Relocation Director Education: 1972 – Graduate of the Academy of Notre Dame – Belleville 1973-1979 Attended Blackhawk Community College 1979-1981 Attended Belleville Area College (SWIC) for Real Estate Brokerage License 1985- Illinois Association of Realtor, Graduate of Realtors Institute, GRI Designation 1996- Attained National Certified Residential Specialist Designation, CRS