Surprising Ways to Affect your Credit Score

Most people know the big things that make it to your credit report and affect your score such as revolving debt, car and home purchases and school loans. There are some sneaky little things that may show up on your credit report that you are aware of and that could actually hurt your overall credit score.

Skip the Rent

This one may not be that surprising. Paying your rent on time seems like a no brainer, but you may not be getting the credit you deserve when you pay your rent every month on time. Even though your timeliness might not be reported, you lateness could. Your landlord may decide he/she is fed up with your slow payments and report you to the credit bureau or start collection proceedings on the late rent.

Medical Bills

Even with insurance, there is usually some out of pocket expense even for a simple office visit. Health care service providers can decide to report your unpaid bills to the credit bureau or send you to collections. Many healthcare providers will work with you on larger bills, so take that step instead of not paying to prevent negative credit consequences.

Library Fines

Library fines with their small amounts can be easy to forget or overlook. Even with that small amount, some libraries have been sending unpaid fees to collection agencies. If this happens, you will end up paying more than you originally owed, and have a ding on your credit report.

Utilities Missing utility payments or not shutting them off when you move can have a negative impact on your credit. Again, you will not win credit points by paying on time, but not paying can have an impact. Also be sure that when you move you have a set date to turn them off. Bills could be going to your old address and you would have no way of knowing that you owe money.

Our credit score is something we like take care of. Your best course of action is to pay anything with your name that is a bill. Even if you aren’t sure what will affect your credit, it is better to pay on time then find out later that your credit score has suffered. Contact Carolina Money Minders for more help on your credit score!