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5 things people do that hurt their credit scores


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After suffering from a poor credit report for years, Mark Clayborne went on a mission to study everything he could on restoring his credit. Concluding the extensive research, he repaired his credit report and learned various hidden secrets on how to improve a bad credit file. Because of this new found tested knowledge, Mr. Clayborne helped over a hundred consumers repair their credit and take their financial life back. Now, he wants to share these strategies with the world and as a result HIDDEN CREDIT REPAIR SECRETS was created which has sold over 1000 copies as of today. Mark is a certified credit consultant with over 100 articles written in the area of credit repair and a successful radio show titled “Who Else Wants Better Credit”, which is aired on Blog Talk Radio every Tuesday & Thursday at 7:30PM-PST. Mark educates his customers through articles, videos, his blog and various credit repair kits. He graduated from Virginia Commonwealth University with a Bachelor's Degree in Criminal Justice. He also holds a paralegal diploma. He currently lives in sunny California with a beautiful wife and lovely daughter.

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5 things people do that hurt their credit scores

  1. 1. Presents5 Things People Do That Hurt Their Credit Scores
  2. 2. Rebuilding your credit score could be a challenge to most consumers, but with the proper education combine with action your goals could be achieved.Once you get your score to the number you want, you want to protect it by not making careless financial mistakes. In this article, I will disclose the fivethings that will hurt your score that you have been trying so hard to improve.
  3. 3. 1. To many Inquiries and lying on a loan application Be careful not to get too many credit card inquires because it could dropyour score. The banks dont like to see that you have applied for credit all around the town. If you are applyingfor a car loan or a mortgage within 45days, it will count as one inquiry. Soft inquires wont hurt your score, but hard ones will. Be careful when you search online comparing car quotes because some credit bureaus may count the inquiries against you.
  4. 4. Dont lie to improve your score for the following reasons: First, banks can check your correct score with noproblem. And second, its fraud if youmisrepresent information on a credit card application.
  5. 5. 2. Lack of budgeting and savings Lack of budgeting is a major factor in why people have a bad score. Spend timeformulating a weekly and monthly budget. It will allow you to spend less than you earnand put extra money away toward paying of f your debt.
  6. 6. Try to save each month for emergencies. By saving, you will avoid over-extending your credit cards, which can bring your score down. Start out with saving 5% of yourincome every month and then go to 10%. Youcan have your bank take the money out every month and have it transferred to your savings.
  7. 7. 3. No emergency funds or insuranceEmergencies such as losing your job, a medical crisis, or a death in the family can often be an unexpected financial strain, if youre unprepared. You must have money in place to maintain your bills, or your three digit number could take a hit because all of your available money will go toward your emergency.
  8. 8. Get life insurance, health insurance, disability insurance, and car insurance. If you have anemergency in any of these areas and you donthave proper coverage, you can find yourself in serious debt and with a damaged your three digit number.
  9. 9. 4. Not protecting your credit during a divorce If you are married and you and your spousedecide to get a divorce, joint accounts can bringyour three digit number down if one of you doesnot pay the bill. Even if youve gone to court andhave legally decided who will be responsible for each bill, the only thing that matters to your creditors is that one of you send your payment on time. According to the lenders, both parties are liable for the debt.
  10. 10. 5. Closing old credit cards. Closing old credit cards will hurt your creditscore in two ways. First, when you close an old card, it will reduce the over length of your credit history which will in return lower your credit score. Second, closure will lower theamount of high credit you have between all of your credit accounts.
  11. 11. Now that you are aware of the five things thatcan lower your three digit number, go out there and take action to prevent your three digit number from taking a hit.
  12. 12. If you are ready to say goodbye to credit rejection and debt collectors, visit hiddencreditrepairsecrets.comand sign up for the Free 8-Day E-Credit Repair Course, and claim your Free Gift-60 minute Podcast on Rebuilding Your CreditHiddencreditrepairsecrets.c om