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Five Counterintuitive Ways You Can Ruin Your Credit
Dated: August 29 2025
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December 26, 2024 04:10 PM
Regarding your credit, you may think you know how to safeguard your FICO score – pay your bills on time and don’t overextend. However, some behaviors that seem harmless, or even helpful, could unexpectedly tank your score. Learning more about what these actions could be will help you keep your credit safe and avoid pitfalls.
Closing Old Credit Cards – Many people have old credit cards cluttering up desk drawers that are not really needed anymore. But before you close an old card you never use, understand that the length of credit is one factor of good credit, so closing an old card could lower your score.
Paying Off All Debt – Lenders like to see that you can manage debt. Paying off all debt can lower your score. Keeping a small, manageable balance and regular payments might be a better strategy.
Co-Signing Loans – Helping someone by co-signing a loan might seem like a generous offer but understand the risks. If they miss even one payment, that bad debt will show up on your credit report and could dramatically affect your credit score.
Applying for Credit – If you are considering a new car or home loan, you may think applying to multiple places is the responsible thing to do. Too many inquiries in a short amount of time can lower your score.
Ignoring Small Bills – Take all your bills seriously. Even small bills like cable or the pool service could end up in collections if not paid on time. A collection can negatively impact your credit score for up to 10 years.
Taking your credit seriously is only the first step. Understanding all the unintended ways you can damage your score is the best way to protect your credit and financial health.
Tracey Dedee
For over 20 years, I've had the privilege of helping buyers and sellers throughout Rochester and the Greater Rochester Region achieve their real estate goals with confidence. As an Associate Broker wi....
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The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of NYSAMLS. Real estate listings held by firms other than REMAX Plus, are marked with the IDX logo and detailed information about them includes the Listing Brokers Firm Name.
Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor REMAX Plus shall
