What factors affect my credit and how can I avoid them?
Hello again, dear reader. We have already come a long way, eh? We have discovered information about our credit, which many did not know and others, soaked even more. After having covered some topics of great interest to everyone regarding our credit, today you are going to discover some factors that damage your credit and how you can avoid them.
One of the first factors that affect our credit, is the most common and known by all:
-Delinquent payments, not making payments on time, of any kind, this causes a negative impact on your credit score. While it is true that the damage varies, depending on how long the payment is overdue. A payment 15, 30 days late is not the same as a payment 60 or more than 90 days late. In the same way, this type of carelessness damages your credit score.
-The famous credit cards: If you have high balances in your credit cards this can damage your credit score. It is advisable not to use more than 30% of your credit limit for more than 30 days.
-Unnecessary new accounts: Opening new accounts can decrease the length of your accounts, which can have a negative impact on your credit score. However, having a short credit history with a new account will not affect your credit score if you pay your bills on time and reduce your debt.
-Combining different types of credit: Having multiple types of credit, such as credit cards or installment loans, can have a positive impact on your credit score. However, don’t worry if you don’t have them; you don’t need to open new accounts just to create a combination of credit types. After all, this is one of the factors that least affects your credit score.
-Applying for new lines of credit often: if you’re a person who constantly applies for loans, you may be hurting your credit score, this in conjunction with checking credit at every turn seriously affects your credit score.
From now on, start being more responsible and disciplined with your credit. A healthy credit life.