How to Damage Your Credit Score

Damaging your credit score is fairly easy but it’s certain that it is not a good thing to do. If you have just started establishing credit history by a bank as Chase or Citibank, you need to make sure that you don’t indulge in activities which will curtail you from having a good or excellent credit score in the not-too-distant future.

When thinking of actually damaging your credit score, you need to make sure that you aren’t paying your credit card bills on time. There is certainly no way you will be able to raise your credit score if your new VISA credit card has been used by you in an inappropriate manner. You cannot be buying expensive shoes with your credit card, avoid paying bills on it on a monthly basis and expect not to damage your credit score within a few months.

You will damage your score if you expand the debt ratio on the Bank of America credit card you have just applied for. All banks offering credit cards as part of their services offer credit cards which could lead you to damage your credit score. Basically, if you have a credit card which is loaded with an amount of $5000 and you decide to purchase a couch from Macy’s for $5000 by using it, you would be increasing your debt ratio. Have you noticed that if you had to use a credit card in such a manner, you would be keeping your debt ratio in between a percentage of 99% to 100% ?

You will damage your credit score if you let wicked thieves utilize your credit cards. Keep your credit cards in a safe place because when a thief gets hold of your credit card and misuses it, you will be liable for all charges it accrues if you are banking with a seriously bad bank. A word to the wise is enough.

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