Your Credit Score could be affected by little mistakes made on your part. These mistakes are made all the time, and most don’t realize the impact on your credit report and credit score. We have seen these common problems quite often, even though you are providing help for a family member or friend.Co-signing for loans:One of the most common credit mistake is co-signing on a loan for friends and family members that don’t pay there bills. Yes you thought you were helping someone out, but in return hurt your personal credit. Over the years we have seen more and more people helping out other people with loans, and there credit report is littered with late payments. The result is sorry we cannot help you with the loan you are applying for because your credit score is too low. Late payments will drop your credit score 100 points. So if you had a 700 FICO score, now you have a 600 FICO score. So don’t co-sign for someone else. They need to learn how to establish credit on there own.Closing Credit Card Accounts:Fair Isaac Corporation does not recommend closing out credit cards, especially if the card is in good standing. Once […]

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