It doesn’t matter if you have an excellent credit score or one that needs some work, nothing changes the fact that you need to avoid costly mistakes down the road.

There are many things that can damage your credit score, all of which you want to avoid at all costs. Consider the following:

  • Late and missed payments. For many consumers, this is where their problems begin. You begin to believe it’s okay to make payments a few days late. Soon enough, a few days turn into a few weeks. From there, you miss a payment altogether and it drags down your credit score. Know your due dates and stick to them!
  • Too many credit requests. There will be times when you make multiple credit requests, such as when purchasing a vehicle or buying a home. However, you don’t want this to turn into a long term habit. If you’re going to make a big purchase that requires credit, lump all your credit requests into a short period of time.
  • Increased debt to credit ratio. This one can be a challenge to avoid, especially if you’re relying on credit cards to make ends meet. If you’re able to reduce your debt to credit ratio, as opposed to increasing it, you’ll realize a positive impact on your credit score.
  • Neglecting to fix inaccuracies. If you come across any type of error on your credit report, even one that appears inconsequential, you should take immediate action. A minor inaccuracy can have a major impact on your credit score. The worst part about this is that you didn’t do anything wrong.

These are not the only things that can damage your credit score, but they are among the most common.

If you avoid these things, you’ll find it much easier to maintain your good score and/or hopefully increase it in the future.

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