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Shocking Behaviors that can Drag Down Credit Scores

2012/11/19 by

Woah! Who knew that getting a new cell phone, renting a car, and not paying a traffic ticket are all things that could potentially damage your credit score? Of course we all know that doing things like opening up a new line of credit, using a large percentage of a credit line, and missing loan payments are obvious ways to screw up your score. But I just read this enlightening article by Sabah Karimi of Wise Bread, featured in U.S. News’ Money section, describing some of the lesser-known actions that can have a nasty effect on one’s score. I cannot more highly recommend folks to give this a read, as it most likely contains at least one or two surprises– and not the good kind! Chances are, we’ve all done a couple of the things on this list without so much as giving it a second thought, completely unaware of any impact to our score. Check it out:

“Whether you have stellar credit right out of college or are prepared to put together a credit repair plan after years of credit card use, you need to make sure your post-college decisions won’t negatively impact your credit score. Some simple money moves can unintentionally hurt your credit score and make it that much harder to maintain a score that makes you attractive to future lenders, employers, and financial institutions.

Be wary of these lesser-known actions that can damage your credit score: “

Click here for a list of the eight surprising behaviors that can damage one’s credit score.

Get on that one, fellas. I believe one of the great keys to success is staying informed, and this is definitely one of those times where it will literally pay off to stay informed. How? Well, it’s a proven fact that people with higher credit scores save money by getting better interest rates, and in order to maintain a good credit score you’ll need to know what factors will drag it down. Booyah!

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