Ever wondered exactly how some people end up with terrible credit? What are the common characteristics of those at the very bottom of the credit scoring scale? Are there things that you can do to avoid ending up with bad credit?
- Make late payments
- Pay only the minimum amount
- Carry high percentage balances on multiple cards
- Apply for multiple lines of credit within a short period of time
See yourself in any of these characteristics? If so, then you need to make a concerted effort to start making your credit cards, car payments, house payments, etc., on time, work toward paying down the balance on credit cards, and stop applying for new credit cards.
It’s also a good idea to regularly review your credit reports for accuracy, as your credit score can be lowered considerably by inaccurate information.