Top 3 Credit Mistakes Which Will Harm Your Credit Scores
Credit scores are the financial measurement to determine your financial creditworthiness. Lenders like banks and credit card companies use these credit scores to know your financial ability. Thus is important to maintain your good credit scores. Let review the 3 top credit mistakes which you may make and harm your credit scores:
1. Missing Payment
Your credit score is count based on your credit history and how you have managed your current and pass credit obligations. Many lenders will use this piece of information to predict your future miss payment probability and it is important factor to approve or reject any of your loan application. There are three ways that missing payments will hurt your credit scores. They are:
-> How Frequent are Your Late Payments? – Sometimes you may make your payment late due your busy schedule. But if you do it frequently, it may hurt your credit score seriously. Don't make the late payment as your habit; maintain your good credit behavior with your timely payment.
-> How Recent is Your Late Payments? – The scoring model are designed to...