Two Stupid Things People Do to Royally Screw Up Their Credit Score and How to Avoid Them
The problem with department stores and gas stations is that they offer you credit cards that will give you discounts on your purchase.
The immediate discount sounds good...
until you go to check your credit , and you realize that it has dropped a whopping 10 points.
Just for opening a single card.
Here is a quick tip.
Don't open these kind of cards.
Ever.
The amount of money you will save on your purchase is extremely small compared to the amount of money you will have to pay if you fail to pay off the card.
The interest rates on these sorts of cards skyrocket, more so than bank issued credit cards.
Additionally, the line of credit you will get from these sorts of cards is really small, and will just overall make your credit worse.
There really isn't anything good to be had from owning one of these credit cards.
The next stupid thing people do to screw up their credit score is not checking it after they have gone through the bankruptcy process.
It's really easy to forget to check your credit report after going through a process like bankruptcy, but you still need to do it.
Heres why.
Sometimes all the previous debts won't be cleared off your credit report, which will tank your credit score.
Just make sure you remember to get those removed from your report after you've gone through the bankruptcy process.
By avoiding these two mistakes, you will be able to protect your credit score, and it will be easy for you to get loans and lines of credit in the future.
The immediate discount sounds good...
until you go to check your credit , and you realize that it has dropped a whopping 10 points.
Just for opening a single card.
Here is a quick tip.
Don't open these kind of cards.
Ever.
The amount of money you will save on your purchase is extremely small compared to the amount of money you will have to pay if you fail to pay off the card.
The interest rates on these sorts of cards skyrocket, more so than bank issued credit cards.
Additionally, the line of credit you will get from these sorts of cards is really small, and will just overall make your credit worse.
There really isn't anything good to be had from owning one of these credit cards.
The next stupid thing people do to screw up their credit score is not checking it after they have gone through the bankruptcy process.
It's really easy to forget to check your credit report after going through a process like bankruptcy, but you still need to do it.
Heres why.
Sometimes all the previous debts won't be cleared off your credit report, which will tank your credit score.
Just make sure you remember to get those removed from your report after you've gone through the bankruptcy process.
By avoiding these two mistakes, you will be able to protect your credit score, and it will be easy for you to get loans and lines of credit in the future.