Five Surprising Things That Can Impact Your Credit

Five Surprising Things That Can Impact Your Credit

Five surprising things that can impact your credit

Hopefully you already know the five factors that can impact your credit — payment history, mix of accounts, amount of debt, history of credit inquiries and the age of your accounts. But did you know some of your other behaviors can have far-reaching consequences as well? It's true — even your cable bill can come back to haunt you. Here's a look at five of the lesser-known factors that can affect your credit.

1. Parking Tickets

Parking tickets are one of those things that can easily slip through the cracks. But let those tickets slide for too long, and your credit could get dinged. The ticket could be reduced to judgment, John Heath, a credit expert with Credit.comaffiliate Lexington Law, said via email. "The judgment is a public record that can be picked up as a derogatory mark on your credit report."

2. Credit Report Errors

"Consumers, on average, across all the [credit] agencies have some sort of error on their credit file," Michael Bruemmer, vice president of consumer protection at Experian, said. Typically, they don't have a clue about it because they haven't checked their credit in awhile. (You can pull your credit reports for free each year at AnnualCreditReport.com and view two of your credit scores for free, updated monthly, on Credit.com.) Not sure how to go about disputing any errors you've found? This handy guide can help you get started.

3. Applying for Too Much Credit

There's nothing wrong with shopping around for good credit offers (and some credit scoring models are built to allow for a certain amount of comparison-shopping for a particular type of loan). But apply for too much credit at once and your score could take a nosedive, Bruemmer warned. Some people think adding a new card will increase their credit utilization, or level of debt compared to their credit cards' available credit limit. But, while this is correct in theory, applying for too much credit at once can create several hard inquiries — each application for a can trigger a credit pull — which can make you look risky in lenders' eyes.

4. Public School Fees

Failing to pay public school fees for things such as labs, library books, athletics and so on can result in a referral to a collection company, Heath said, so don't forget to take care of them. If you don't, and they end up in collections, it can reflect poorly on your credit history and stick with you for years, even after you've repaid the debt.

5. Utility Bills

As with parking tickets, not paying your utility bills can also do a number on your credit, Heath said. "These past-due bills can result in a referral to a collection company, which in turn can result in a derogatory mark on your credit report."



Victor DeFrisco Headshot
Author:
Phone: 561-951-3759
Dated: September 6th 2016
Views: 178
About Victor: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Snow Birds In South Florida - click
25 Of Homes With A Mortgage Are Now Equity Rich - Rising home prices have been in
The Importance Of Keeping A Clean Home -  A clean house is
Sep 18 2018 48981 2 - 34 Reasons Why I Love Real Estate

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Exit Realty Premier Elite
8961 Hypoluxo Road
Lake Worth, FL
561-701-8124


Other Locations