- Using expensive or undesirable types of credit costs too much and is
- Accumulating too many lines of credit or too many credit cards causes
credit report remarks like "too much consumer credit."
- 3. Only paying the minimum due keeps balances too high. make sure you make
it a habit to always pay more than minimum
- 4. Maxing out your credit card will drop your score dramatically
- 5. Cash advances from Credit cards cost higher interest rates and credit
cards companies love you, when you do that
- 6. Exceeding limits and having to pay over-limit fees is a negative with
creditors and causes "high proportional amounts owed" remarks on credit
reports and subtracts credit score points.
- Charging more than you can afford causes a snowball effect of debt
with no easy way to pay it off.
- Ignoring credit problems causes unnecessary negative impact. Talk to your
creditors, and give them a heads up that you are about to be late. This wont
always work, but sometimes creditors wont report it to bureaus
- Always report change of address to your creditors in a timely manner
Credit Repair & Analysis