15 Years In Business!

Let's Talk
(818) 299-1636

CPN Number SCN Number

All the information you need about CPN Number / SCN Number, How does CPN Number and SCN Number Work, Build a Credit Score. ShapeMycredit give you all the information you need under one website. ITS YOUR RIGHT WE HERE TO HELP!

All you need to know about CPN / SCN Numbers

Credit Repair

Here at ShapeMyCredit we take our job and your Credit Repair needs very seriously. As a top leader in our industry with umbrella of credit repair services and understanding the applicable consumer protection laws, so we can help you to leverage your legal rights.

All you need to know about Credit Repair

What Could Lower Your Credit Score? - 5.0 out of 5 based on 6 votes

What Could Lower Your Credit Score?

Five Credit Missteps that Could Lower Your Credit Score

Even if you are diligent about maintaining your good credit standing, the following missteps could lower your credit score in the blink of an eye.

  1. Late PaymentsBills
    One of the biggest factors and the fastest / easiest way to lower your credit score is through delinquent payments or by not paying your bills as agreed. Since your payment history makes up a significant portion of your credit score, failing to make the minimum payment within 30 days of the due date could lower your credit score.
    For instance, if you've never missed a payment and have a credit score in the high 700s or low 800s and missed the 30-day grace period to make your payment, your score could drop significantly.

  2. Not Paying the Minimum Amount Required
    in worst case you need at least the minimum amount due on you credit cards balance or any type of loans, creditors report to your account approx 60 days after your payment is past due, not paying your balance or minimum amount due will damage your score. Additionally, not paying the minimum amount due can result in late fees and interest charges which.

  3. High Credit Card Balances
    Maxing out your credit cards or pushing your account(s) to its limit can have a negative impact on your credit score. Keeping credit card account balances below 30 percent of your credit line can help you avoid such an impact. For example, if you have $1000 credit limit on your card, try to keep the balance no higher than $300.

  4. Too Many Credit Cards or In-Store Cards
    Even if you believe that you can pay them off quickly, opening up several credit cards or in-store accounts in succession could mean trouble for your score because opening multiple lines of credit in a short period of time is considered abnormal behavior by credit agencies because it suggests that you might be a credit risk.

  5. Changing Personal Information
    When you change you move between apartments frequently you need to remember to update your address on bills, because you run the risk of not paying your bills on time. Not updating the 3 creditors of any change can get you to lose good reporting because information is not accurate and it will reflecting the credit you’ve build.

  6. Closing Credit Cards
    Cancelling a credit card doesn't just mean it won't work when you go to swipe it — the cancellation can also affect your credit score. The biggest impact is likely to be possible harm to your credit utilization ratio, which shows how much of your available credit you actually use.

  7. Collection Accounts
    Collection accounts can significantly lower your credit score. When you don't make credit card payments as agreed, creditors may use third-party debt collectors to try to collect payments from you. Creditors might send your account to collections before or after charging it off. A collection status on your credit report shows that the creditor gave up trying to get payment from you and hired someone else to do it.