5 Ways You Can HURT Your Credit Score
A great deal of factors can do serious damage to your credit rating, and it will not only be limited to the irresponsible use of a charge card. Other loans and forms of credit also hurt your credit report, and may have severe effects on your financial health. Apart from credit card payments, other loans or bills like unpaid apartment rentals and medical bills can likewise hurt your general credit rating. Here are five ways to hurt your credit rating.
Late Credit Card Payments and Large Balances
Late credit card payments not just burden you with extra surcharges and fees, but it can also put a black eye on your credit report. According to credit status experts, poor payment history accounts for 35% of your total credit rating, and even a single late payment can quikcly chop-off 100 points from your score. If the charge card you’re using also carries a really large balance, it would also send a bad signal to various lenders and creditors.
Unpaid Medical Bills Can Affect Your Credit Rating
Unpaid medical bills can do a lot of harm to your credit rating. Once these are turned over to a collection agency, the bad news will certainly be circulated aorund the lending community.
Bushwick Credit Score - Ready To Change Your Life and Fix Your Situation ? Call 347 369-4249
Non-Payment Of Apartment Rentals
Defaulting on your apartment rental payments can likewise add to your credit rating woes. Your landlord can genuinely describe that he or she has evicted you for defaulting on the place where you live rent, and this would surely sne dshivers down most property management businesses and mortgage lenders.
Mounting Utility Bills Paint a Bad Credit History
While late installments on utility, cable TV and telephone bills are not often reported to credit authorities, a few US states actually report these sorts of delinquencies to collections agencies. Although, for people who pay their utility bills on time, this practice may in reality do a lof of help in enhancing their credit score.
Did You Know Bay Ridge Credit Counseling Has A Money Back Guarantee & Starts As Low As $199 - Call 347 369-4249
Unpaid Library Fines And Parking Tickets
Even tiny stuff such as an unpaid $25 library fine or $50 parking ticket, can inflict an uncomfortable pinch on your general credit rating. Today, most municipal and city governments are turning to collection agencies to salvage hese unpaid bills, in particular when your dilly-dally on repaying them. As an example, if a collection agency reports that you weren’t able to pay overdue parking tickets or library fines, this might make your credit score drop by as much as 100 points. Ensure that you pay your library fines or parking tickets on time, as you won’t know when they send these bills to the collection agencies.
While late credit card payments, or mounting medical bills and unpaid parking tickets may appear to be small bumps on the credit highway, these actually help to slowly mangle your credit score, and could significantly alter your plans of buying a new home, acquiring a new car, or paying for your youngsters school tuition.
Brooklyn Credit Repair - Money Back Guarantee By an “A” Rated BBB - Cerified Credit Union Service Organization - Get Started For $199 Call 347 369-4249 Credit Repair In Brooklyn