What can hurt your credit?

Answer 1

Things that affect your credit report negatively are listed below: * Late or missed payments * Using more than 80 percent of your total amount of available credit * Bankruptcy * Liens or foreclosures * Periods of unemployment * Too many requests for new lines of credit

* Your payment history. The most important factor to a potential lender is whether or not you will pay your bills in full and on time. The more recent your good (or bad) payment history, the more important it will be for your credit score. * Your outstanding debt. The more credit cards you have that are maxed out, the lower your score will be. As mentioned above, try to keep your credit card balances at 25 percent or less of your limits. * The length of time you've been building credit. The longer your credit history, the higher your credit rating. * The number of inquiries on your credit report. The more times you've applied for credit cards or loans, the more credit report inquiries will show up on your credit report. A higher number of credit report inquiries may indicate that you're struggling financially or may have a lot of debt (even if you never used the cards or gotten the loans). If you need more detail information regarding this subject look at Phil Turner Credit Bible, it has a wealth of information regarding solving credit problems and understanding the credit system.