RE/MAX Properties Inc
Todd & Lisa McLain, RE/MAX Properties IncPhone: (719) 290-6734
Email: [email protected]

Simple Things That Ruin Your Credit Score

by Todd & Lisa McLain 05/31/2019

Your credit score is one of the most important numbers to your financial picture. You know how important it is to have a high credit score. If you pay your bills on time and keep your debt down, you think that your score will be just fine, but this isn’t always the case. There are a few hidden mistakes that you could be making that are bringing your credit score down. Read on to find out what to avoid when trying to keep your credit score up and maintain it. 


Too Many Credit Inquiries


Beware that every time you apply for a new loan or even just check on what type of interest rate you can get, your credit will be reviewed. You want to avoid too many credit inquiries because a high number will bring your credit score down. Always ask if a lender is pulling a hard inquiry to check your score, don’t allow too many of these credit checks. 


Anything Small Can Make A Big Impact


Was there a mistake on a medical bill that you paid but it says it was unpaid? If you let this go, your credit score could be impacted. Even unreturned library books that have been turned over to collections can negatively affect your score. Stay on top of things because you never know how a small mishap can affect you.


Your Information Is Wrong


You should look at your credit report so that you can see more than just your history. You can see the information that is being reported to check for mistakes. Incorrect information can bring your credit score down. You can call the credit bureau that’s associated with any errors that you see on your credit report. It can be a little bit of a process to correct the mistakes on your credit report, but the time and effort is definitely worth it for your credit score.                       



Not Using your Credit


While using your credit too much is a problem, not making use of your credit at all can be a problem. Responsibly use your credit. Open a credit card and use it to make small purchases. Charge only things that you can afford and pay the balance off each month. This simple use of a card is one of the easiest ways to establish credit.      


It’s important to do what you can to develop and maintain a healthy credit score. Keep all of your avenues covered to be sure that nothing hidden can negatively affect your credit score. 


About the Author
Author

Todd & Lisa McLain

Todd McLain is proud to be the leader of The McLain Group at RE/MAX Properties, Inc. He is a third generation Colorado native and truly loves the lifestyle this beautiful part of the country offers. He graduated summa cum laude from the University of Colorado. Before joining the real estate profession 18 years ago, he was a teacher in Cherry Creek Schools and Academy School District and was nominated twice for Disney’s American Teacher Award. Lisa, originally from Minnesota, has called Colorado home for 30 years. It was her training to become a Registered Dietitian that brought them to the Pikes Peak Region nearly 27 years ago and they are convinced there isn’t a better place to raise a family. At any given time, they may be found hiking, biking or snowmobiling, enjoying friends, family and church events or visiting their sons, now busy college students in Washington and Texas. 

Todd and Lisa are experienced professionals committed to providing their clients with superior real estate service throughout the home buying and selling processes. They provide current and accurate information, expert analyses and intelligent problem solving to empower their clients to achieve their real estate goals. They invest in understanding clients’ goals and in building long term relationships by providing value to the client and demonstrating respect for their clients’ interests and objectives. Todd and Lisa measure success by repeat business and the referrals to family and friends received from past clients.