Do you tackle with maintaining a good credit score?  Although, you may try your best at making timely monthly payments, there are several key things that you are doing that is affecting your score negatively.

 

If you’d ever wondered why your score was low, it may be because high percentage rates which causes creditors to hit you over the head with high minimum payments and late fees. Or it may be because of certain purchases you make with your debit card (such as renting a vehicle).  Renting a car with your debit card, for instance, gives car companies the OK to look at your credit report.

 

Once this occurs, your credit report is hit with a “hard” inquiry.  Hard inquiries are negative dings to your report and they also last on your credit report for 2 years.  Matter of fact, anytime you make big purchases (i.e. houses, cars, etc) hard inquiries are made in order to check your score.

 

Here is a video from CNN Money that explains how you are hurting your credit and how to stop it from happening.  Check it out:

 

 

 

 

PREVIOUS RELATED ARTICLES:  What’s Your Credit Score? (Part 1),    What’s Your Credit Score? (Part 2)