Avoid The
Credit Wreckers
It might be shockingly easy to wreck your credit score, but it‘s far less likely to happen when you know exactly what to avoid.
MAX OUT
Max Out’s eyes are bigger than his wallet. When he sees something he wants, he buys it… and his credit score pays the price. He frequently buys himself little treats, but even small purchases can easily add up to big balances, pushing his credit card limits. What Max Out doesn’t know is that using his full credit limit can lower his score. If only he knew he might be able to set balance alerts to keep his credit utilization under 30%.
Stay Below 30% Credit Limit Utilization
MISS PAYMENT
Miss Payment means well, but more often than not she misses her monthly credit card payments, and each one missed can stay on her credit report for up to seven years! She could be using AutoPay, but she’s afraid of overdrafting her bank account. If only she knew she might be able to schedule her due date to better align with her payday.
How Not To Miss A Payment
CANCELINA
Watch out for Cancelina. She just loves canceling her unused credit cards once they’re paid off. But what she doesn’t know is that canceling them can decrease the length of her credit history and hurt her credit mix.
Don't Cancel Your Old Or Unused Credit Cards
one track jack
One Track Jack only has eyes for one... one type of credit, that is. But what he doesn’t know is that by focusing all of his attention on only one type of credit, he isn’t building a more robust credit mix — which could limit his credit growth.