Top 7 Credit Score Secrets, part 2

credit score secretsIn my last post, I shared the first of seven secrets to help protect or improve your credit score. A higher credit score leads to better interest rates on car loans, mortgages and large purchases, and I’m pleased to share with you the remaining secrets to help you achieve financial security.


4. Applying for too many credit cards at one time is extremely detrimental to your credit score since every time someone checks your current credit status, it leaves a ding that can last up to one year. When you suddenly start applying for a large amount of credit, it sends a red flag that you are either enduring some type of financial trouble or that you are accumulating too much debt. Either way, it negatively impacts your credit.

5. Although teenagers are not always the most responsible with money, getting your teen a credit card early in life can make a significant difference in their credit scores over the long run. There are a few excellent options for low-limit cards and prepaid cards, both of which will help your child start building a positive foundation for their future credit.

6. Avoid “free” online credit reports! Usually, they are not free and can be a complete scam. If you want to receive a free credit report, you can check with all three major reporting companies once every 12 months with no negative impact on your credit. You can access this information at the government-sponsored site:

7. Never lie or falsify information about your credit score. Your credit score can easily be checked by anyone, and you may even face legal action for falsifying information on a loan application.


We hope this information will help you maintain or improve your credit score, as well as lead to favorable interest rates. Please feel free to contact me with any questions or for assistance with any financing needs.


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