There are many kind of sins we can commit against our credit score and it will be of a greater advantage to us. This is because credit score helps us in so many ways especially in the case of mortgage and auto loans. A good credit score is always one of the best ways to have a low interest rate on loans and mortgages which can save us thousands of dollars with a period of time. Infact, being involve in this sins deny you alot of life opprotunities and again lenders and financial institutions will not respect you and will not be willing to associate with you because they will see you as someone who lacks integrity especially with your bad credit score which will be the resultant of the credit sins you will be committing.
When we try to avoid this deadly sins, we can be able to have a good credit score that will make us stand firm in financial environment. These six deadly credit sins could bring about a bad credit score for you 1. SLOTH
Trying to pay a blind eye to your credit report is a very bad attitude, you thinking since you didn’t see your credit report, then it doesn’t exist. It do exist and you must do everything to see it, because studies have shown that 1 percent or more of credit reports that are prepared are always having ome mistakes or another and this mistakes could be a very costly one, so if you didn’t care to know what is in your credit report then you will be at the disadvantage. Because it could lead to a lower credit score which will inturn makes you to pay more interest rate on mortgage and loans. There for in other to avoid this kind of mistakes, you need to go through your report which is always make available every four months by any of the three major credit bureau which include; Experian, Equifax, TransUnion). Going through this report every four months allows you to be able to point out any form of error and get it corrected in a short time so that it won’t affect your credit score. 2. APPLYING FOR TOO MANY CREDIT CARDS