Archive for the ‘fre credit report’ Category

Your credit score may just been lowered

Thursday, July 24th, 2008

If your credit score was just lowered, how would you find out? There are so many avenues now to get your credit report it’s actually pretty easy. But what if it actually was lowered to the point that it would really cost you on loans? This is where the constant stream of information is flowing about how important your credit score is these days. A credit score is so powerful these days that it has become the driving force of the lending industry. When it comes right down to it, all of this is the result of money. If someone loans you money and your credit score states you are low risk, then there is a pretty good chance that the bank will not need to worry about you defaulting. But in this article I wanted to discuss some matters that would affect your credit score.

Applying for credit
If you are going out applying for a bunch of credit, this will lower your credit score. The reason is the credit score risk models look at this type of activity in a negative way. The reason is it looks like you are applying for too much new credit which could be a risk to a creditor. The reason it look negative at this is because you could be acquiring too much debt too soon

Late payments
If you were just late on a payment that is with a creditor, you credit score was just destroyed. Late payments will affect your credit rating about 100 points.

High credit card balances
If you just went out and charged up your credit cards above 30% of allowed credit limit, you score just dropped. If you charged over the credit limit your credit score just dropped as well.

Closing credit card accounts
If you just closed one of your credit card accounts you just lowered your credit score. You really should not close out good credit unless there is a really good reason. This type of activity will lower your fico score.

Not enough credit
Maybe your credit score is not increasing because you don’t have a mix of credit on your credit report. You should have a couple credit cards and maybe a auto loan. You credit score is calculated by your mix of credit and your activity with this credit.

These are some quick tips on what could lower your credit score. What out for stuff like this, it will cost you.

About the Author: Mike Clover is the owner of is the one of the most unique on-line resources for free credit score report, fico score, free credit check, identity theft protection, secured credit cards, student credit cards , credit cards, mortgage loans, auto loans, insurance, debt consolidation ,and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness

Disclaimer: This information has been compiled and provided by as an informational service to the public. While our goal is to provide information that will help consumers to manage their credit and debt, this information should not be considered legal advice. Such advice must be specific to the various circumstances of each person's situation, and the general information provided on these pages should not be used as a substitute for the advice of competent legal counsel.