Free annual credit reports Lubbock

Tags: Bad Credit, Bill Collectors, Car Loan, Credit, Credit Card, Credit Score, Credit Scores, Danger Zone, free annual credit reports Lubbock Fact Of The Matter, Fast, Improve Credit, Job, Last Minute, Nasty Phone, Raise, Score, United States Required fields are marked *Your email address will never be published or shared. Think Twice Before Canceling Credit Cards Before you cancel your credit cards, think twice free annual credit reports Lubbock about how it might affect your credit score. I made this mistake about two years ago when I canceled a card I had for over 8 years. Because I hadnt used it for 5 years, it wasnt a rewards card like my new credit card, and I didnt think it would affect my credit score. on line credit reports But canceling that card actually had a negative affect on my credit score! Thankfully, I already had a good credit score and wasnt planning on applying for free annual credit reports Lubbock any lines of credit free annual credit reports Lubbock at the time. At the time, I didnt know how credit scores are determined. I thought that since I had an open line of credit that wasnt being used, it would lower my credit score (too free annual credit reports Lubbock much available credit can be a bad thing). credit scores free That was partially true, but I didnt realize that the age of your credit history also affected your credit score.

That line of credit was open for 8 years, had a $1,000 limit, free annual credit reports Lubbock and I was never late or missed a payment. Besides that card, my newest lines of credit were another credit card and a car note, both of which were free annual credit reports Lubbock about a year old. Canceling that credit card reduced my average free annual credit reports Lubbock age of credit quite a bit, and there was no substantial benefit by reducing my line of credit free annual credit reports Lubbock by $1,000. This chart breaks down the components of your FICO score. As you can see by the above chart, making any drastic changes to any of the categories can affect your credit score. how to get my free credit report

This would include missing payments, raising your credit utilization, canceling cards and reducing the length of your credit history, taking out new credit cards, and taking out different forms of credit (mortgages, store brand credit cards, student loans, etc.).