If you have been lucky enough to get a free copy of the FICO credit score, you should be aware by now that the lenders know about your financial status. But have you ever imagined that there could be various ways in which you can kill your credit score? Understanding credit scores have been a source of perennial problem for the American consumers. Until recently they were deeply troubled by the debt burdens which kept them hooked to the various debt relief programs; debts are one of the many reasons to have a bad credit score. But there are several attitudinal sins which can but kill your credit score:
· The first sin is that of failure to pay bills. Paying the bills on time can help you to avoid credit score disaster and it is something that cannot be left as delinquent.
· An attitude of neglect if applied towards checking credit scores would mean that lenders are sharing information which you do not know. Ideally it is mandatory to check your scores and update yourself about the same.
· The worst habit or attitude whatever you can call it is that of postponing the payment of bills. What the consumer fails to understand often is that when the bills are paid on time it will help them to avoid hundreds of hassles regarding their finances. Moreover a good credit score can allow an individual to hold his head high in the society.
· Closing the accounts can be the greatest sin as old credits can actually allow the creditor to have a broader view about your payment habits.
· Too many accounts can wreak havoc as the lenders often get a bad idea that the consumer is simply trying to access instant cash.
· None of the accounts should be maxed out as it makes the lenders suspicious about your repaying abilities. Moreover the credit utilization should never exceed the amount of credit which is available.
Credit score is your responsibility entirely and in no way should you hand it over to a third party or any other company.Therefore, good habits and patience will definitely give a boost to your credit score.
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