5 Ways You Can HURT Your Credit Score

Below may seem like small bumps on the credit highway, these actually help to slowly mangle your credit rating, and may significantly alter your plans of buying a new home, getting a new car, or paying for your child's college tuition.

Late Credit Card Payments and Large Balances
Late credit card payments not only burden you with additional surcharges and fees, but it can also put a black eye on your credit history. According to credit report experts, poor payment history accounts for 35% of your total credit score, and even a single late payment can quikcly chop-off 100 points from your score.

Unpaid Medical Bills Can Affect Your Credit Rating
Once these are turned over to a collection agency, the bad news will certainly be circulated aorund the lending community.

Non-Payment Of Apartment Rentals
Your landlord can actually report that he or she has evicted you for defaulting on your apartment rent, and this would surely send shivers down most property management companies and mortgage lenders.

Mounting Utility Bills Paint a Bad Credit History
While late payments on utility, cable TV and telephone bills are not often reported to credit agencies, a number of US states actually report these types of delinquencies to collections agencies.

Unpaid Library Fines And Parking Tickets
Today, most municipal and city governments are turning to collection agencies to salvage hese unpaid bills, especially if your dilly-dally on repaying them. For example, if a collection agency reports that you weren't able to pay overdue parking tickets or library fines, this could make your credit score drop by as much as 100 points.