It doesn’t matter whether you’re trying to improve your credit or build a positive credit history from scratch, there are a few financial moves you should almost always avoid. Even one small misstep can result in lasting damage, undoing all the hard work you’ve already achieved.
#1. Making Late Payments
The largest factor determining your credit score is your payment history, making it extremely important to avoid paying any of your bills late. Obviously, this includes any type of financing payments, like credit cards, student loans, mortgage, car loans, and any other kind of personal loan. But even things like your cell phone bill or utility payments have the potential to impact your credit report if you leave them unpaid for too long.
#2. Reaching Your Credit Limit
Another credit mistake to avoid in order to fix credit or build it is to balance your credit utilization. How much you utilize each line of credit available to you also has a major impact on your credit health.
#3. Closing Accounts for the Wrong Reasons
When you have problems with accumulating credit card debt, your immediate reaction may be to shut down your accounts. But that can actually hurt you instead of helping to improve your credit.
At Credit Repair Ease, it’s easy to find out if you would benefit from professional credit repair services. See if it’s the best option for your personal situation by Call on (888) 803-7889 for a free consultation on our site.
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