Which of the Following Actions Can Negatively Impact Your Credit Score? A

Your Neb Payment History

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Payment history determines 35% of your credit score. In fact, how timely yous pay your bills affects your credit score more than any other factor. Serious payment problems, like accuse-offs, collections, bankruptcy, repossession, tax liens, or foreclosure tin can devastate your credit score, making it almost impossible to become canonical for annihilation that requires proficient credit.

The best thing y'all can do for your credit score is to make your payments on time each month.

Your Level of Debt Matters

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Your debt level determines 30% of your credit score. Credit scoring calculations, such as the FICO score, await at a few key factors related to your debt. The amount of overall debt you lot carry, the ratio of your credit carte balances to your credit limit (also called credit utilization), and the relation of your loan balances to the original loan amount.

As a guideline, yous should keep your credit menu utilization at 30% or less, meaning only charge up to xxx% of any card'southward available limit.

Having loftier balances or too much debt can heavily impact your credit score. The good news is that your credit score tin can ameliorate quickly as yous pay down your balances.

Types of Credit on Your Report

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Ii bones types of credit accounts exist, revolving accounts and installment loans. Having both types of accounts on your credit report is meliorate for your credit score because it indicates you have experience managing diverse types of credit.

It'southward even better if you lot have loans for different types of avails, such as a car or a abode, in addition to credit cards, and mayhap a student or personal loan. However, the types of credit just constitute 10% of your credit score, so not having a sure type of credit, such as an installment loan, won't devastate your score.

Number of Credit Inquiries

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Each time you submit an awarding that requires a credit cheque, an inquiry is placed on your credit report showing that you've made a credit-based application. Inquiries brand upwards ten% of your credit score. One or two inquiries won't hurt much, but several inquiries, especially within a short period of time can toll y'all many points off of your FICO score. Proceed your applications to a minimum to preserve your credit score.

The skillful news is that merely those inquiries made inside the last 12 months cistron into your credit score. Inquiries completely disappear from your credit study after 24 months.

Note that checking your own credit report results in a "soft" research, which does not impact your credit score.

Factors That Don't Bear upon Your Credit

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Some factors are commonly thought to influence your credit score, but they don't—not straight at least. Information similar income, bank balances, and employment condition tin influence your ability to become approved, but they don't actually factor into the algorithm that calculates your credit score. Age, marital status, and debit or prepaid carte du jour usage also practice not influence your credit score.

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Source: https://www.thebalance.com/factors-affecting-credit-score-960527