Saturday, March 8, 2014

3 Reasons Your Credit Score Is Awful And You Don't Even Know It.

3 Reasons Your Credit Score Is Awful And You Don't Even Know 




One of  the biggest reasons your credit score is falling fast and you have NO CLUE is because you have not checked you credit score in a few years or you have but can't understand why it keeps going down!





Reason 1:

You would think paying off all your debts and cutting up those high interest credit cards is just what you needed to do to get out of debt right?? Wrong.Credit is something that you need to keep reporting every month to maintain your score (IE :mortgage payment, or some type revolving line) If you have no activity on you credit report....it's falling fast.

Reason 2:

Know Your Score
Some of your credit card balances are to close to being MAXED OUT!!!. If your credit cards balances are over 70% the balance of the card then there is a good chance that every month when your credit is reported it is showing up negatively . So try to keep you each credit card under 70% of the limit.


Reason 3:

The terms and conditions of your current credit card have changed......"Is that even Legal" (Sadly..YES)
your credit card provider or lender might have changed your original term and conditions that you once had and now some of the things you are doing might cause your credit score to be hammered (example: using your credit card for the rewards points and paying it off to much or to fast)


If you are interested in learning more or  would like a free credit score and/or credit consultation click below

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