Marvin Nathaniel Smith JR explains 8 ways you may be hurting your credit score

You do not only have to make sure that you are building your score, you also have to make sure you are not hurting your current score. Your current score will also be benefitting if you will be making sure you are careful enough. You have to watch your activities closely and make sure you are monitoring yourself.

Here are 8 ways you may be hurting your credit score

Here are at least 8 ways you may be hurting your credit score.

Not paying timely and making payments after due time

This will be the biggest problem for you, as you will not be making your report any better. This will hurt your report and show you in a bad light for being nonpunctual towards your report.

Giving less time to the analysis of your report

Giving less time to the analysis of your report is such a problem because at the end of the day when there is no time given to understanding the report, it gets ignored and often falls into a problematic pattern.

Having authorized users

If you have given authority to certain users, it will bring you to a point where you will be feeling helpless because the other users will be using your card on their own terms and will make your credit report become nonsatisfactory. Especially if the authorized user is a child, that could be very hurtful for your score.

Taking out new cards

Taking out new cards will be putting more load on your credit score and sometimes it can become bad due to the added pressure of so many cards.

Expanding your limit

You may feel expanding your limit is putting you at a better spot but in reality it is not, it is in fact putting you at a more vulnerable spot and can easily make you feel more and more tempted to be spending more and then falling into the vicious circle of not paying back on time and so on and so forth.

You should at least check your credit score every few months because it really is the most important part of your finances in case let us say you need a loan or something. A bad credit score will never allow you to take good loans, and take good big opportunities up, for example for a mortgage you definitely need a good credit score.

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Pay attention to these details as they will make your future brighten up in the best possible way you can imagine.