These are of No Affection to Your Credit Score III

Credit card interest rate

You credit score will not be affected with high or low interest rates on credit cards. However when lenders typically give the best rates to borrowers with the best credit scores, there could be a correlation between credit scores and interest rates. Then you interest rate could be affected by your credit scores.

Credit counseling

Don’t think that credit counseling is as bad for your credit as chapter 13 bankruptcy. Credit counseling will not influence your credit score though it may be reflected on your credit report. However you should make sure your creditor is getting your payments on time if a credit counselor is managing your credit cards payments. Even they are credit counselor your credit score will be affected as well.

Young or old

The credit score is not calculated with you age. However your credit score somehow has something to do with your age. As for a young, whose credit score could be limited because he does not have enough experience with credit. The people older with more credit history could have a higher credit score since they have time for early credit mistakes to drop off their credit report.

These are of No Affection to Your Credit Score I

These are of No Affection to Your Credit Score II

These are of No Affection to Your Credit Score III

Some Reasons That Hurt Your Credit Score II

The loan default

Defaulting on a loan means you do not have fulfilled the end of your loan contract, which is similar to credit card charge-offs.

Filing bankruptcy

You can look for alternatives such as consumer credit counseling before you are going to file bankruptcy because it will devastate your credit score as well.

Having your home foreclosed Foreclose on your home

Your lender could foreclose on your home if you get behind on your mortgage payments. You credit score will be hurt and it is more difficult to get approved for future mortgage if you make late payments.

Causing a Judgment

If you got a judgment, you are considered avoiding your bills and the court will get involved to make you pay the debt you own. It is better not to have unpaid judgment though both paid or unpaid one will both hurt your credit score.

Big amount with credit card balances

The level of debt is measured by credit utilization, which is the second most important part of your credit score. It will increase your credit utilization and decreases your credit score if you have a high credit card balance which is relative to your credit limit.

Some Reasons That Hurt Your Credit Score I
Some Reasons That Hurt Your Credit Score II
Some Reasons That Hurt Your Credit Score III

Some Reasons That Hurt Your Credit Score I

Credit score is important to everyone, by with you will be considered to be creditworthy or not by creditor or lenders. In order to stay away from them you need to find out which action hurt your credit score.

Delay payment.

You payment history will count 35 percent of your credit score. You credit score will be hurt heavily if you keep delay payment on your credit card. Prevent your credit score from being hurt by paying your credit card bills on time.

No payment or miss paying to your credit card

It will be much worse than paying late if you didn’t make payment or forget paying to your credit card. If you miss a credit card payment this month, you are one month closer to be charged off then.

Account got charged off

One of the worst things is your account got charged off, which will hurt your credit score much and bring your account into a very bad status. So make sure to pay your credit card bills on time and the creditors will not charge off your account.

Account sent to collections

Your payment can be collected by third-party debt collectors so creditors will be able to use it. A collection status shows that the creditor gave up trying to get payment from you and hired someone else to do it. Before or after your account got charged off they could send it to collections. 

Some Reasons That Hurt Your Credit Score I
Some Reasons That Hurt Your Credit Score II
Some Reasons That Hurt Your Credit Score III

New Credit to You

It is recommended to make effort to get positive information added as new credit after you have fixed the negative items on your credit score. Make payments timely will help your score while late payments hurt your credit score, so it is ideal to have some credit cards and loans being reported on time. Always make payments on time that will keep your balances at a reasonable level.

How to get new credit

You may open up a new account for reestablishing your credit. You will not be approved for a major credit card to limit your credit card application if you have past delinquencies, which will keep your credit inquires low until your credit score improves. When you make a new application for credit the credit inquires will be added to your credit report each time, which will also hurt your credit score and your ability to get approved as a result.
Retail store have reputation for approving applicants with bad or limited credit history, so you can try to apply for their credit card if you got denied for a major credit card. But if they do not allow it, you can make a security deposit to get a credit limit in order to get a secured credit card, which can be used in more places than a retail credit card so somehow a secured credit card is more useful than a retail credit card.

Get High Balance Below Your Account Limitation

Another big factor called credit utilization will affect you credit score as large as 30 percent, which is a ratio that compares your total debt to total credit. The balance will hurt your credit score directly depends on whether it is high or low. If you have maxed out credit cards, you will need to spend a big fee for the score points. Get high balance below your account limitation and then pay the whole balance off. If the balance is less than 30% (10% is even great) of the credit limit, you will have better credit score.

Your Credit Score Affects the Loan Balances

Your credit score will be affected by your loan balances. Your current loan balance will be compared to the original loan amount by credit score calculation. The loan balance will hurt your credit score much if it is very closer to the original amount you borrowed. In order to downgrade the impact on your credit score, you have to be focus on paying down credit card balance soon.

High Balances and Past Due Accounts

You have to prioritize where you spend your money because each month you will have a limited amount of money to put toward credit repair. Get as many of the accounts that are in danger of becoming past due as possible and work on bringing down your credit card balances. Finally take care of the accounts that have already been charged-off or sent to a collection agency and deal with them via regular ways.

Resolve Your Due Accounts’ Status

The most important factor that impacts your credit score is your payment history, which will take 35 percent of your score. If you have several past due accounts on your credit which will affect your score significantly because your payment history is a large part of the credit score. Make effort to let all your past due accounts reported as “current” or at least “paid.” because it is much important to take care of the payment history for your credit repair.

Check the current on your accounts that are past due which are not yet charged-off. One your payment is 180 days past due with your account, it is the worst thing as charge-off.

Pay the total amount that’s less than 180 days past due so you will save from charged-off even your accounts are delinquent. Be known that the further behind you are, the higher your catch up payment will be. The creditors may help to waive some of the latest penalties or spread the past due balance over few payments, so, in order to figure out what you can do to get back current, contact your creditor as soon as possible. Ask them for help and let them know how you are anxious to avoid charge-off. It is better to talk to your creditors and negotiate with them so that you will have opportunity to re-age your account to show your payments as current rather than delinquent.

Make payment to your accounts that’s already charged-off as soon as you can. You are always responsible for a charged-off balance with your accounts. If it takes too long and become older, charge-offs will affect your credit score heavily and so it will be much hard or even impossible to get approved for new credit and loans for you in the future.

When the account balance become zero which means it is paid, you should have your charge-off paid in full and the credit report has been updated already. Anyways the charge-off statues will continue to be reported for 7 years from the date of charge off. Beware that if the creditor agrees to accept a settlement and cancel the rest of the debt, you will be able to settle charge-offs for less than the original balance which is a good option. Also The settlement status will go on your credit report and stay for seven years. Sometimes you are able to convince the creditor to delete charge-off status from your credit report in exchange for payment, but it is not that easy. However, paying your charge-off and getting a favorable account status is an added bonus to you.

Keep an eye on with your collection accounts. If the accounts have been charged-off or fallen behind for some months they will be sent to a collection agency and added to your credit. They will be sent to a collection agency even if the accounts are not normally listed on your credit.

The collection will keep with your credit report for 7 years based on the original delinquency. However, you can pay in full and even try to pay to delete in the process or you can settle the amount for less than the balance due if you are approach to paying collections for charge-offs.

Credit Report Errors Dispute

If you think that your credit report is not accurate, incomplete or it is not verified yet, you can dispute the information as you want. You will receive instructions about how to dispute it when you make an order to the credit report. You can make dispute online or over the phone and through the mail as you need.

Dispute Credit Repair with Best Method

It is better to take a screenshots of your dispute. You do not have paper trail if you just dispute credit repair online or over the phone though it is a litter fast and easy. Send the proof for example a cancelled check showing you make your payment on time to support your dispute. Keep the copy of the dispute letter as a record. Then you will wait 30-45 days to wait for investigate and respond to your dispute from the credit bureaus. It is good to keep a credit report dispute template, which you will be able to modify in different disputes from the three credit bureaus.

Dispute Sending

You’d better send a copy of your credit report that will be an important proof to support your dispute when you are going to send your dispute to bureaus. The credit bureau may not process and decline to investigate the dispute or update your credit report if you do not provide enough information about your dispute. When you have sent a legitimate dispute, the investigation will be conducted soon and the credit bureau will respond you as schedule.

Credit Bureau Dispute Alternative

When it is necessary you can also send the disputes directly to the bank or business that listed the information on your credit report. Because they have the same legal obligation as you to investigate your dispute and remove inaccurate, incomplete, unverifiable information from your credit report. It is also an important way to approach the investigation.

What Will Change after Dispute

The bureau will make the change and alert the updated credit report to other credit bureaus if the dispute is successfully investigated. You will receive the updated copy of your credit report and you will be able to add a personal statement to it. When a business manually reviews your credit report, the personal statements will help to give additional insight into your dispute though it won’t affect your credit score.