What Factors can pull My Credit Score Down?

Your credit score is an important number. Why? It is used by creditors and lenders to gauge your credit worthiness. Thus, you need to protect your credit rating as much as you can. You need to consistently monitor your credit records with the three credit report bureaus. You need to maintain its accuracy and credibility. In so doing, you can protect the financial prospects and credit options that you might take in the future.

But what factors can pull your credit score down? What should you do to prevent your credit score from sliding down? You will find the answers to these questions in the remainder of this article.

Factors that Can Hurt your Credit Score

1. Late Payments.
2. Not paying at all.  
3. Filing bankruptcy.
4. High credit card balances.
5. Applying for several credit cards or loans.

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